Key Reasons: 1. FOMC Meeting: Optimism from Powell’s Remarks Federal Reserve Chair Jerome Powell’s dovish tone in the FOMC meeting reassured investors. Powell indicated potential interest rate cuts in 2024, despite high inflation. 2. Coinbase Premium Turns Green: Demand for Spot ETFs The Coinbase Premium, which reflects demand for spot Bitcoin ETFs, shifted to positive…
Current Market Conditions Top crypto analyst Markus Thielen cautions against buying the recent dip in the crypto market. He believes that the conditions are not yet right for such a strategy. Bearish Outlook Thielen’s analysis suggests that Bitcoin (BTC) and Ethereum (ETH) may continue to decline before any significant rally. He identifies $60,000 as a…
Experts Weigh In Bitcoin has taken a hit, dropping from over $73,600 in March to around $60,800 today. This has sent shockwaves through the crypto community. Causes of the Crash Experts have identified several reasons for the decline: Excessive leverage: Traders were borrowing too much money to invest in Bitcoin. Ethereum’s influence: Ethereum’s price drop…
Bullish Fundamentals Bitcoin’s supply on exchanges has hit a four-year low, indicating that investors are holding onto their coins rather than selling. Demand for Bitcoin is also outpacing supply, which typically boosts its value. Price Crash Causes Despite these bullish signals, Bitcoin’s price has been declining. Crypto analyst Alex Kruger attributes this to: Overleveraged Traders:…
Halving Trend Bitcoin’s price has been following a pattern before its halving events. In 2020, the price dropped about 20% in the month leading up to the halving. Expected Crash This time around, the price crash is expected to happen around the same time as the halving. The price could drop between 20% and 38%,…
What Was the Alameda Gap? After the collapse of FTX and Alameda Research, a “gap” in liquidity emerged in the Bitcoin and crypto market. Alameda, a major market maker, had provided significant liquidity before its downfall. Gap No Longer Exists Crypto research firm Kaiko reports that the Alameda Gap has been filled. Market depth has…
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…
