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…
Analysts’ Confidence Soars Analysts at Bernstein, a private wealth management firm, have doubled down on their prediction that Bitcoin will reach $150,000 by 2025. Gautam Chhugani and Mahika Sapra believe the cryptocurrency has a high probability of hitting this milestone. Factors Driving the Surge Spot Bitcoin ETFs: The success and demand for Spot Bitcoin Exchange…
Bitcoin ended the week on a sour note, crashing hard early Friday morning. The drop pushed the price below $66,000, dragging the rest of the crypto market down with it. Spot ETF Inflows Slow Down The crash may have been triggered by a slowdown in Spot Bitcoin ETF inflows. These ETFs had been driving the…
The Bitcoin price has plummeted from over $72,000 to as low as $65,500. While factors like liquidations and inflation fears have been cited, a rumor suggests a failed hedge fund trade may have also contributed. The Failed Spread Trade Andrew Kang, founder of Mechanism Capital, revealed that a hedge fund lost over $1 billion on…
Despite a recent market downturn, the Solana memecoin Dogwifhat (WIF) has seen a surge in value, defying the odds. From Humble Beginnings to Sin City Lights Dogwifhat, featuring a Shiba Inu with a stylish beanie, started as a simple meme coin. However, a community-driven fundraising campaign raised over $680,000, securing a prime advertising spot on…
Liquidations Triggered Price Drop The Bitcoin market experienced a sharp decline due to a massive liquidation event in the futures market. Over $682 million worth of crypto trader liquidations occurred, with 80% being long positions. This caused Bitcoin’s price to plummet from $72,000 to $66,500 in a matter of hours. Macroeconomic Pressures Weigh In Macroeconomic…
