Bitcoin price downside may last 2 months — Analysis
Bitcoin could experience another two months of downside pressure before a bullish chart pattern could lead to a breakout.
Bitcoin could experience another two months of downside pressure before a bullish chart pattern could lead to a breakout.
Jump Trading significantly contributed to the crypto market sell-off and it could be looking to sell another $104 million worth of wstETH.
As Bitcoin dropped below $50,000, analysts expect more outflows that would potentially drive prices down to $42,000.
Crypto traders faced significant losses as major cryptocurrencies, including Bitcoin and Ether, experienced a sharp decline, resulting in over $1 billion in liquidations.
Crypto whales are positioning themselves for the next “altcoin season,” while DeFi loans are seeing a resurgence back to 2022 highs.
Despite the gloomy outlook, Bitcoin could prevent more downside pressure if it manages to remain above the $51,000 mark.
Findings from a 10x Research report reveal potential Bitcoin value drop below $50,000 amid US economic uncertainty, impacting the broader crypto market.
Bitcoin sees a giant $30,000 crash in a week while Ethereum retreats 40% and Berkshire Hathaway’s Apple sale takes on new meaning as stocks dive worldwide.
Hackers exploit the market crash, using stolen funds from the 2022 Nomad bridge hack to purchase 16,892 ETH at a significant discount.
BTC dominance hits 58% as the cryptocurrency market suffers a 17% drop, leading to a market cap of $1.76 trillion.