The recent decline in the price of Bitcoin can be attributed to various factors, with one of the major contributors being the large sell-offs orchestrated by governments. The German government’s decision to sell around 2,786 BTC, equivalent to roughly $140 million, sent shockwaves through the market. Similarly, news broke that the US government had moved
Bitcoin
Bitcoin, often referred to as the digital gold, has had a rollercoaster ride in terms of price movements. The Bitcoin Rainbow Chart, a tool that analyzes price movements through a logarithmic scale, currently places Bitcoin in the “Buy” zone. This suggests that there is still room for growth before reaching a peak. Moreover, historical price
Bitcoin recently faced a significant rejection at the $62,498 resistance level, signaling a prevailing bearish dominance in the market. This failure to break through a critical threshold has raised concerns about potential downward trends and highlights the strength of selling pressure among traders and investors. As of the time of writing, the market capitalization of
The recent outflows in Spot Bitcoin ETFs have sparked concerns among investors, as they have now recorded seven consecutive days of outflows. These outflows, averaging around $100 million daily, have led to a total of $1.2 billion being pulled out from the funds so far. The correlation between these outflows and the decline in the
As the once-sizzling crypto market continues to sputter, with Bitcoin at the helm of the downturn, investors are left grappling with a period of uncertainty and frosty sentiments. The recent weeks have been marked by a mass exodus from Bitcoin, with a staggering outflow of $630 million recorded just last week. This retreat has not
Anthony Scaramucci, the founder of SkyBridge Capital, has made some interesting predictions regarding the future of Bitcoin in relation to the upcoming presidential election. He believes that if Joe Biden wins a second term, Bitcoin could reach new all-time highs (ATH) ranging between $170,000 and $250,000. This prediction is based on his belief that the
Bitcoin, the leading cryptocurrency, has been facing a significant decline recently, with its price edging closer to the crucial $60,000 mark. The market sentiment has turned bearish, influenced by a combination of macroeconomic factors and a surge in selling pressure. This shift has left many investors and traders anxious as Bitcoin struggles to maintain higher
A recent analysis by a crypto analyst has raised concerns regarding the price of Bitcoin potentially dropping to lows of $52,000. The analyst pointed out that Bitcoin has broken key support levels, leading to a possible transition from a bullish to a bearish stance. This prediction comes at a time when Bitcoin’s price has been
The recent performance of Bitcoin has left investors and traders disappointed as the leading cryptocurrency struggled to find solid ground in the ever-volatile crypto market. Not only has Bitcoin failed to impress, but it has also dragged down the prices of other large-cap assets, leading to significant losses across the board. The lackluster performance has
Bitcoin is currently facing a downturn, with its value dropping below $64,000 to $63,564. This decline of 2.5% in the last 24 hours and 12% over the past two weeks has led to concerns among investors. However, Arthur Hayes, the co-founder of BitMEX, remains bullish on Bitcoin, advocating for investors to ‘buy the dip.’ His
