Amidst the market turbulence and uncertainty surrounding Bitcoin’s future, cryptocurrency analyst and trader, Crypto Jelle, remains optimistic about the digital currency’s trajectory. Despite the recent consolidation phase, Jelle believes that Bitcoin’s bull run is far from over and foresees the potential for further price rallies in the coming months. Following the fourth Bitcoin Halving event,
Bitcoin
As crypto analyst Ali Martinez has pointed out, Bitcoin’s journey to $76,000 is contingent upon its ability to reclaim key support levels. Martinez emphasizes the importance of Bitcoin reclaiming $64,290 as support in order to pave the way for a potential rise to $76,610. Failure to surpass this crucial level could spell trouble for the
Bitcoin, the flagship cryptocurrency, has been experiencing a downward trend since hitting its all-time high in March. This has resulted in a shift in sentiment among crypto traders, with many no longer eagerly buying the dip in hopes of a quick turnaround. The previously prevalent “buy the dip” mentality seems to be fading as Bitcoin
The recent sluggish price action of Bitcoin has not only led to concerns among investors but has also brought attention to the decline in on-chain activity on the Bitcoin network. Data analytics firm Santiment has revealed that various on-chain metrics, including transaction volume, daily active addresses, and whale transaction count, have all significantly dropped since
The dynamics of Bitcoin price movements are heavily influenced by the actions of major whale investors in the crypto market. Recent on-chain data provided by IntoTheBlock suggests a noticeable decline in whale accumulation volumes during each buying cycle over the past month. This trend raises concerns about the conviction of these whales, especially as the
The recent underwhelming performance of Bitcoin has not gone unnoticed by institutional investors, who are now showing signs of bearish sentiment. Data from CoinShares has revealed a significant outflow of $284 million from Bitcoin investment products last week. Most of these outflows came from US Spot Bitcoin ETFs, with $156 million exiting these funds. This
Bitcoin (BTC) has recently seen a slowdown in its price movement, despite having recovered above $60,000. One of the main reasons for this tepid movement is believed to be the reduced demand for Spot Bitcoin ETFs. The Spot Bitcoin ETFs experienced a surge in net inflows in the first three months of their launch, which
The Bitcoin price has been on a rollercoaster ride recently, experiencing both bearish pressure and a strong comeback. After falling below the $60,000 mark for the first time in almost two months, the price of BTC managed to recover above $60,000 and even reached as high as $63,000 in the past day. This raises the
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.
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
