Bitcoin (BTC) has crashed below $70,000, underperforming the already weak crypto market as selling pressure tests price action. Market analyst Crypto Patel noted that he had anticipated this significant drop, citing BTC’s fragile price structure and persistent bearish factors in recent weeks. Now, the expert is sharing new insights on the latest price decline, forecasting how far the ongoing correction might go and what could come next for the leading cryptocurrency. Analyst Predicts More Declines Ahead For Bitcoin Crypto market analyst Crypto Patel on X is predicting further declines for Bitcoin, identifying $50,000 as a potential bottom for this cycle. In what he called a “Bitcoin Profit Update,” Patel highlighted that he had accurately forecasted the recent 19% crash in Bitcoin in his earlier posts. Related Reading: Here’s Why The Bitcoin Price Is Crashing And What To Expect Next Previously, the analyst had warned that Bitcoin’s previous $80,000 level represented strong resistance,
Data shows the spot ETFs and Strategy have absorbed more Bitcoin than Satoshi’s stack since the asset was last at $63,000, yet the asset has returned to the same level. Bitcoin Could Be Headed Toward The Realized Price In a new post on X, CryptoQuant founder Ki Young Ju has talked about the latest crash in the Bitcoin price. Since mid-May, the cryptocurrency has gone through a significant drawdown that has taken its value from a high above $81,000 all the way down to the $63,000 level. A major part of this decline has come in June alone, with BTC even hitting a brief low below the $62,000 mark. Related Reading: Bitcoin Traders Turn Most Fearful In 2 Months Following Crash The latest downturn has interestingly arrived despite some positive developments in the market. Young Ju pointed out that since BTC was at $63,000 in March 2024, the asset’s supply has gone through a distribution shift. The spot exchange-traded funds (ETFs), investment vehicles introduced in the United States in 2024,
Morgan Stanley's Bitcoin ETF signals growing institutional acceptance, potentially driving significant capital inflows and influencing market dynamics.
The post Morgan Stanley boosts Bitcoin holdings by over 220 BTC via MSBT ETF appeared first on Crypto Briefing.
Cardano (ADA) is facing a sharp downturn, having suffered a major monthly drop of around 30% and slipped below the crucial $0.20 support level on Thursday for the first time in over five years. The selloff is unfolding against two pressures at once: bearish momentum across the broader crypto market and fresh warnings from Cardano […]
Bitcoin price started a fresh decline below the $65,000 zone. BTC is showing bearish signs and might continue to move down if it dips below $62,000. Bitcoin failed to stay above $65,500 and extended losses. The price is trading below $64,000 and the 100 hourly simple moving average. There is a bearish trend line forming with resistance near $63,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might extend losses if it stays below the $65,000 and $65,500 levels. Bitcoin Price Extends Losses Bitcoin price failed to stay above the $66,500 support zone. BTC remained in a bearish zone and extended losses below the $65,000 level. There was a move below the $64,000 level. The price even dipped below $62,500. A low was formed at $61,255 and the price is still showing many bearish signs. It is below the 23.6% Fib retracement level of the downward move from the $74,070 swing high to the $61,255 low. Bitcoin is now trading below $64,000 and the 100 hourly simple movin
Strive's unique funding strategy and aggressive Bitcoin accumulation could redefine corporate treasury management and influence market valuations.
The post The Benchmark Company initiates buy rating on Strive with $32 price target, sees nearly 100% upside appeared first on Crypto Briefing.
Bitcoin has reached Peter Brandt’s February downside target, but the veteran trader says BTC could still move lower before forming a tradable bottom. In an earlier outlook, he projected a potential $300,000 to $500,000 bitcoin peak in 2029. Peter Brandt Says Bitcoin May Not Find a Tradable Low Until October Bitcoin’s latest drop has returned […]
MicroStrategy's preferred stock strategy raises investor concerns over mounting cash obligations and market stability.
The post Jeff Dorman: MicroStrategy’s flawed balance sheet management threatens Bitcoin holders, $2 billion raised to address dividend fears, and the impact of preferred stock on market sentiment | Unchained appeared first on Crypto Briefing.
On-chain data shows the Bitcoin long-term holders are now holding more underwater supply than even the lowest point of the 2022 bear market. Bitcoin Long-Term Holders In Deepest Pain Since COVID Crash As highlighted by Glassnode lead research analyst CryptoVizArt in an X post, the Bitcoin long-term holders have seen a spike in loss supply […]
