The recent drop in Bitcoin’s price below the $59,000 support level has caused concern in the cryptocurrency market. This price dip led to liquidations in the futures market, prompting analysts to warn of a potential further decline without a market capitulation. While $120 million in liquidated long positions was reported by CryptoQuant, it is important
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The recent market-wide crash in the cryptocurrency space has brought the Bitcoin price below $60,000, triggering a 20% decline. This has exposed crucial support levels for Bitcoin, with the most significant support now identified at $51,800 by the crypto analyst Norok. According to Norok, this support level, last seen in December 2023, is essential for
Bitcoin, the world’s largest digital asset, recently broke below the $60,000 support level for the first time in two months. This decline comes after several months of euphoria in the market, particularly driven by the launch of Spot Bitcoin ETFs in the US. However, a new report from Glassnode suggests that this euphoria may be
Cryptocurrency analyst Ali Martinez recently highlighted the significance of the $59,800 price level for Bitcoin’s future trajectory. According to Martinez, this price level is crucial as it historically serves as a bounce-off point during uptrends. If Bitcoin were to drop to $59,800, it could spark a massive pump in the flagship cryptocurrency. However, Martinez also
Cryptocurrency analyst and trader Lark Davis has highlighted several significant developments in the Bitcoin ecosystem that could potentially lead to a more intense bull cycle than previously expected. These changes include factors such as institutional and global acceptance, which have the potential to drive the current bull market further. One key aspect that Davis pointed
Crypto analyst DonAlt has recently discussed a scenario where the Bitcoin price could potentially drop to as low as the mid-$40,000 range. This price breakdown, as suggested by DonAlt, might be necessary for the continuation of BTC’s bull run. In his analysis, DonAlt noted that Bitcoin has dropped back to around the $60,000 price range
The Bitcoin network has experienced a significant increase in trading activity following the recent halving event. While the halving did bring attention to Bitcoin, the surge in trading activity can be primarily attributed to the introduction of a new token standard known as Runes. Data from on-chain analytics platform IntoTheBlock reveals that the number of
Recent on-chain data reveals a concerning trend for the Bitcoin network – a steady decline in high-value transactions over the past few weeks. This decrease in activity has been reflected in the price of Bitcoin, which has struggled to break out of consolidation throughout the month of April. Despite several attempts to surpass the $67,000
The cryptocurrency market is buzzing with excitement as a deep learning model has forecasted a significant price surge for Bitcoin in the near future. According to CryptoQuant, a prominent blockchain analytics platform, Bitcoin could potentially hit an all-time high of $77,000 within the next 30 days. This prediction has sparked optimism among investors, who have
Crypto expert Peter Brandt has recently speculated that the Bitcoin top for this market cycle may have already been reached. His analysis is based on what he calls the “exponential decay” thesis, which he believes could actually benefit the Bitcoin ecosystem in the long run. Brandt’s theory revolves around the idea that Bitcoin’s percentage gain