Over the weekend, the Bitcoin price dropped below $60,000 amid rapid selling by major holders such as the German and US governments. This led to one of the largest drops seen for the pioneer cryptocurrency in the last two years, costing the market billions of dollars. However, despite this, Bitcoin holders are still seeing major
Selling
Ethereum price has been struggling to break above the $3,150 zone, remaining in a bearish trend. Recent movements have seen ETH moving lower, potentially aiming for a drop below $2,800. This lack of bullish momentum is concerning for investors, as it indicates a lack of market confidence in Ethereum’s ability to rally. Looking at the
Bitcoin has once again shown its unpredictable nature with a sudden drop below the $54,000 mark on July 5th, leaving investors wary of the market’s volatility. Despite a brief recovery to $56,000, the overall trend in the past seven and thirty days has been a decline of 7% and 20.25%, respectively. This rollercoaster ride has
Bitcoin, the leading cryptocurrency, has been experiencing significant selling pressure lately. On July 4, a dormant Bitcoin wallet that had been inactive for 12 years suddenly sprung to life and transferred over $6.8 million in Bitcoin. This wallet, known as 1Nxxi, sent 76 BTC ($4.46 million) in the first transaction and 43 BTC ($2.46 million)
The recent plummet in Bitcoin’s price can be largely attributed to the impending distribution of 142,000 BTC by the defunct crypto exchange Mt. Gox. This distribution, representing a substantial portion of the total Bitcoin supply, has stirred up market anxiety among investors. The large transfers of 52,633 BTC in recent hours suggest that preparations are
BNB, one of the top cryptocurrencies in the market, has recently experienced a significant drop below the critical $500 support level. This decline has raised concerns among analysts and traders, indicating a bearish trend in the near future. The increased selling pressure and growing bearish sentiment have contributed to the downward movement of BNB, signaling
Cryptocurrency expert Tom Lee has reiterated his belief in Bitcoin’s potential to reach $150,000. Despite recent bearish trends, Lee remains optimistic about the future of the pioneer cryptocurrency. In a recent interview with CNBC Television, he emphasized his forecast for Bitcoin to hit all-time highs by the end of 2024. One of the key factors
Recent on-chain data indicates that the selling pressure from Bitcoin miners has decreased significantly. This decrease is crucial as it could potentially impact Bitcoin’s price as we enter the third quarter of the year. According to Crypto Dan, a crypto analyst who referenced data from CryptoQuant, the reduced selling pressure can be attributed to two
Bitcoin has recently encountered a significant rejection at the $62,498 resistance level, which has emphasized the prevailing bearish sentiment in the market. This failure to surpass this critical threshold highlights the robust selling pressure that Bitcoin is currently facing, leading to concerns about potential downward trends. Traders and investors are now urged to approach the
The once roaring crypto market now finds itself in a state of retreat, with Bitcoin taking center stage in the downturn. From reaching unprecedented highs earlier in the year to plummeting to new lows, the journey of Bitcoin has been nothing short of tumultuous. A recent report by CoinShares revealed a significant outflow of $630