Massive Drop on BitMEX Bitcoin (BTC) has been on a downward spiral since crashing to $64,000 earlier this week. On Monday, the cryptocurrency plummeted to a shocking $8,900 on the BitMEX exchange. A massive sell-off by an unidentified user caused the price to drop sharply. The user sold over 400 BTC in increments of 10-50…
Halving Effect Bitcoin’s recent price drop is partly due to the upcoming Bitcoin Halving, which is expected to happen within the next 30 days. According to analyst Rekt Capital, Bitcoin is in the “Final Pre-Halving Retrace” phase, which typically involves a price pullback. Profit-Taking by Long-Term Holders Long-term Bitcoin holders are starting to sell their…
Exploring Diversification Japan’s Government Pension Investment Fund (GPIF), the world’s largest with $1.5 trillion in assets, is looking into adding Bitcoin to its investment mix. This move signals a potential shift for the fund, which has traditionally invested in more conservative assets. Information Gathering GPIF is currently gathering information about Bitcoin and other non-traditional assets….
Bitcoin has been on a rollercoaster ride lately, hitting a record high of $73,780 and then dropping 12% to below $65,000. But behind the scenes, something interesting is happening: big investors, known as whales, are pulling massive amounts of Bitcoin off exchanges. Whales Withdraw Bitcoin According to crypto analyst Ali Martinez, over 21,400 Bitcoin were…
Bitcoin’s Price Decline Since hitting a record high of $73,000, Bitcoin’s price has been on a downward trend. This recent dip has triggered a broader crypto market pullback. Danger Zone Ahead Crypto analyst Rekt Capital predicts a further decline in Bitcoin’s price before the upcoming halving event. He identifies a “Danger Zone” where Bitcoin is…
Bitcoin has hit a bump in the road after a record-breaking climb. The past week has seen a sharp drop in price, leaving investors wondering if it’s a temporary setback or a sign of a bigger decline. Bearish Concerns Analysts point to a series of failed attempts to push higher, along with declining profitability and…
Bitcoin Plunges Bitcoin has taken a hit, dropping to $65,000. This is a significant setback after its recent record highs. At the time of writing, Bitcoin is trading at $65,710, down 5.6% in the last 24 hours and 4.5% in the last week. Altcoins Suffer Too Bitcoin’s downturn has also affected altcoins. Ethereum (ETH) and…
Market Crash The crypto market took a hit, wiping out over $800 million in a matter of hours. Bitcoin dropped to $67,500 after reaching all-time highs. Altcoins also took a beating, with over 200,000 traders facing liquidations. Long Squeeze The crash was triggered by a “long squeeze,” where traders with bets on rising prices were…
Bullish Signals from Bitcoin Futures The Bitcoin futures market is showing signs that have historically signaled a bullish trend. The futures basis, which measures the difference between the futures price and spot price of Bitcoin, has climbed to its highest level since Bitcoin’s all-time high in 2021. Trading Opportunities This elevated basis creates opportunities for…
Price Correction Bitcoin has been on a wild ride lately, reaching a new high of $73,750. But since then, it’s taken a tumble, dropping to $65,630. Analyst Michaël van de Poppe thinks the correction is far from over. Bearish Divergence Van de Poppe points to a bearish divergence, where the price of Bitcoin is making…
