The recent drop in the price of Bitcoin below the $59,000 support level has caused concern among investors in the cryptocurrency market. Analysts are wary of a potential further decline if a market capitulation occurs. Following the price drop, CryptoQuant reported approximately $120 million in liquidated long positions, signaling a significant shift in market sentiment.
Bitcoin
The recent market-wide crash has sent the Bitcoin price tumbling below $60,000, triggering a 20% decline and exposing critical support levels for the cryptocurrency. One of the key figures in the crypto space, Norok, has identified $51,800 as the most crucial support level for Bitcoin. According to Norok, this level is essential for maintaining the
The recent downturn in the price of Bitcoin has caught the attention of investors and analysts alike. After months of euphoria following the launch of Spot Bitcoin ETFs in the US market, Bitcoin has finally broken below the $60,000 support level for the first time in two months. This signals a potential shift in market
Crypto analyst Ali Martinez has shed light on the significance of the $59,800 price level for the future trajectory of Bitcoin. According to Martinez, this particular price point has often served as a crucial support level for BTC during uptrends. If Bitcoin were to drop to $59,800, there is a high probability of a massive
The cryptocurrency analyst Lark Davis has drawn attention to crucial developments within the Bitcoin ecosystem that could lead to a more intense bull cycle than initially expected. One of these significant changes is the growing institutional and global acceptance of Bitcoin, which has the potential to drive the current bull market even further. The recent
The crypto analyst, DonAlt, has recently put forward a scenario where the price of Bitcoin could potentially drop to the mid-$40,000 range. This prediction is based on the current market conditions and the possibility that a price breakdown might be necessary for the continuation of Bitcoin’s bull run. DonAlt suggests that a price breakout below
The Bitcoin network has experienced a significant increase in trading activity following the recent halving event. While the halving did garner attention for the cryptocurrency, the surge in trading can be attributed to other factors as well. Data from on-chain analytics platform IntoTheBlock reveals a rapid growth in daily BTC transactions, reaching a new peak
The latest on-chain revelation indicates that the Bitcoin network has been experiencing a steady decline in high-value transactions over the last few weeks. This decline has been reflected in the price of Bitcoin, which has struggled to break out of consolidation in April. Despite touching the $67,000 level multiple times, the price of BTC has
Crypto expert Peter Brandt has recently made a bold claim suggesting that the top of the current Bitcoin market cycle may have already been reached. He arrived at this conclusion by analyzing historical data and applying his “exponential decay” thesis to the current market conditions. Brandt pointed out that Bitcoin’s percentage gain has decreased significantly
The cryptocurrency world is buzzing with excitement as a deep learning model developed by CryptoQuant has projected a significant price surge for Bitcoin in the next month. Trained on a vast dataset of historical price movements and on-chain activity, the model predicts that Bitcoin could reach a new all-time high of $77,000 within the next
