Bitcoin (BTC), the largest cryptocurrency in the market, has experienced a sharp drop below the $41,000 mark as exchange-traded funds (ETFs) for Bitcoin went live on January 12. The subsequent profit-taking, selling pressure, and outflows from Grayscale’s Bitcoin Trust ETF (GBTC) played a significant role in the downward trend. Grayscale’s Bitcoin Transfers To Coinbase Intensify…
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Image Source: Adobe Bitcoin bears are eyeing a potential break below the psychologically important $40,000 level as post-spot Bitcoin ETF approval sell pressure ramps up and macro headwinds rise. The Bitcoin (BTC) price dipped as low as the $40,200s on Friday, though has since rebounded towards $42,000. Despite a solid near-4% recovery from intra-day lows,…
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Despite recent dips in price, Bitcoin is still on track for further gains, according to BitQuant. Based on technical analysis, the analyst predicts that the world’s most valuable coin will likely top out at $61,000, not $50,000, as some analysts have suggested. Bitcoin Has Room For Growth, May Peak At $61,000 Sharing a screen grab on…
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Rekt Capital, a well-known cryptocurrency analyst and enthusiast, has revealed the potential directions that the price of Bitcoin could take in light of the upcoming fourth BTC Halving. Potential Retracement For Bitcoin With the halving event approaching, analysts are debating what steps Bitcoin should take after its recent breach from the macro downtrend. One of…
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The Bitcoin price experienced a further sell-off yesterday and fell by more than 5% intraday to as low as $40,660. Since the year-to-date high of $49,000 on January 11, the BTC price has dropped by as much as 17%. However, according to renowned crypto analyst Jacob Canfield, this may not be the end of the…
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Bitcoin price extended its decline below the $41,450 support zone. BTC is showing bearish signs and might struggle to stay above the $40,000 support zone. Bitcoin price is gaining bearish momentum below the $42,500 zone. The price is trading below $42,000 and the 100 hourly Simple moving average. There is a key bearish trend line…
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Data shows the Bitcoin NVT Golden Cross indicator has recently dipped inside the undervalued zone, a sign that could be bullish for the price. Bitcoin NVT Golden Cross Has Entered The Bullish Territory An analyst in a CryptoQuant Quicktake post explained that the NVT Golden Cross has recently indicated upside potential. The “Network Value to…
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2023 started with a challenging overall landscape for the crypto market that continued throughout the rest of the year. However, the market saw a recovery with a spike in bullish sentiment and ended the year on a positive note. Additionally, 2023 saw a decline in crypto scamming and crypto-related illicit activity compared to the previous…
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The Bitcoin price has been moving steadily at its current but failed to meet general expectations. Following the approval of the spot Bitcoin Exchange Traded Funds (ETFs), market participants were expecting potential scenarios. In these potential scenarios, Bitcoin pushed through critical resistance at $48,000 and continued making new highs, or the cryptocurrency retraced to $30,000.…
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Renowned macroeconomist Henrik Zeberg has set the financial world abuzz with a stark prognosis on X (formerly Twitter), forecasting a dramatic surge in the Bitcoin price to a peak of $115,000 to $150,000. However, this meteoric rise is predicted to find an abrupt end, caused by a devastating macroeconomic downturn, one that Zeberg anticipates will…
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