Bitcoin's price chart resembles the stock market in the 1930s, suggesting that the cryptocurrency could be heading towards a major drop, according to Bloomberg's senior commodity strategist, Mike McGlone.
Bitcoin, the top cryptocurrency, reached a two-month low due to risk aversion in global markets triggered by concerns about China's economy and U.S. interest rates, as well as a report that Elon Musk's SpaceX sold its bitcoin holdings.
Bitcoin drops below $26,000 as market awaits central bankers' meeting at Jackson Hole, BNB hits lowest level in over a year due to regulatory and legal pressure, and Australia delays decision on central bank digital currency (CBDC) due to unresolved issues.
Bitcoin remains on track for a massive bull cycle despite recent price decline, as indicated by broader indicators of its price patterns and the use of logarithmic growth curves. The 200-week moving average is seen as less significant as a key price support level for Bitcoin, and the analyst is also looking for an entry point for Ethereum.
Bitcoin and other cryptocurrencies are experiencing a decline, with Bitcoin falling below $26,000, as traders remain cautious following Federal Reserve Chairman Jerome Powell's speech.
Bitcoin is down 11% in August and could potentially nosedive to as low as $10,000 in case of a global economic reset, according to Bloomberg Intelligence senior macro strategist Mike McGlone.
Bitcoin's trading volume has reached its lowest level in four years, with investors waiting for reasons to reenter the market, as the price of bitcoin remains up 57% for the year but has struggled to rebound from its recent decline.
Bitcoin could experience a major market correction in September, potentially dropping by more than 16% based on historical performance and predictions by crypto analyst Benjamin Cowen.
Bitcoin's spot trading volumes for the current quarter have been significantly lower compared to previous quarters, potentially indicating a decline of around 14% month over month, while Ethereum's trading volumes are also at a level not seen since 2019, suggesting a similar trend for the cryptocurrency.
Bitcoin and other cryptocurrencies experience a decline as the Securities and Exchange Commission slows down the decision process for crypto exchange-traded funds.
Bitcoin's price has fallen below its 200-week moving average, indicating a bearish trend, but historical data suggests that this could be a buying opportunity for patient investors.
Despite the recent downturn in the crypto market, a key Bitcoin metric shows that 95% of the existing supply of Bitcoin has not moved in the past 30 days, indicating strong holding behavior and potential for a price rally with a buy-side catalyst.
Bitcoin and other cryptocurrencies experienced a decline after the Federal Reserve decided not to raise interest rates, suggesting that significant gains may not be anticipated in the near future.
Bitcoin and other cryptocurrencies are experiencing a decline in prices due to a strengthening dollar and risk-aversion, but there is hope for a rebound.
Bitcoin (BTC) could experience a market correction and drop to $20,000 this year, according to a crypto analyst, who points to historical patterns, the presence of a trading gap, and a dip below the 50-week exponential moving average as indicators of a potential decline.
Bitcoin may be heading for a further price decline according to a top trader who previously predicted the cryptocurrency's 2018 bear market bottom, citing a bearish lower-high setup and an ABC corrective move that could push Bitcoin down to $23,800.
Bitcoin is on the verge of reaching levels that offer accumulation opportunities and could potentially start an uptrend, according to crypto trader Michaël van de Poppe, who compares the current price action to that of a pre-halving year.
Fidelity Investments' global macro director believes that a recession could lead to a significant rally for Bitcoin, with the potential for prices to reach $96,210 by the end of 2025 if interest rates decline. He also suggests that Bitcoin's correlation with equities has decreased, making it a potential source of uncorrelated returns in the next market cycle.
Bitcoin experienced a significant surge in September despite resistance from the SEC, marking its first positive performance for the month since 2016, and investors are cautiously optimistic for a bullish October.
Bitcoin's price has fallen in the third quarter of 2023, but a positive monthly close in September suggests a potential recovery, and altcoins are also showing signs of strength, with Bitcoin's relief rally potentially reaching $28,000.
Bitcoin is expected to continue its upward trajectory, leaving behind traders who are waiting for a further correction, according to crypto analyst Credible Crypto.
Bitcoin could potentially face a 60% price drop, as liquidity remains negative and global rates continue to rise, according to Bloomberg Intelligence senior macro strategist Mike McGlone. He also suggests that a stock market drawdown related to a recession poses the biggest risk for the overall cryptocurrency sector.
Bitcoin's price experienced volatility and dropped 2.1% after strong US employment data dampened expectations of further Federal Reserve counterinflation measures, but rebounded with $27,700 back in focus; Bitcoin open interest also declined.
Bitcoin could potentially drop by more than 46% if there is a recession caused by the Federal Reserve's actions, according to crypto analyst Nicholas Merten.
Bitcoin registered a loss of 11.1% in the third quarter of the year, defying recent positive developments in the crypto space, but there is hope for a recovery in the historically strong fourth quarter.
Bitcoin and other cryptocurrencies experienced a slight decline along with the wider market, but analysts are optimistic that the recent uptrend will persist.
Bitcoin slipped just under 1% in the past 24 hours as bearish calls among analysts, including Jim Cramer, grew, while overall market capitalization lost 0.3%.
Bitcoin and other cryptocurrencies experienced a sixth day of decline, with a previous bullish trend fading, causing them to return to familiar trading ranges.
Bitcoin has historically performed well on Friday the 13th, with prices rising an average of 1% on the day and surging by 14% and 66% in one and three months, respectively, afterward; however, there are concerns of a corrective phase within the crypto market due to challenges facing Ethereum and signs of weakness in the crypto markets.
Bitcoin and the broader crypto market are down following the U.S. Consumer Price Index (CPI) report, which showed slowing inflation, with experts noting that investors are increasingly viewing Bitcoin as a safe-haven asset and CPI figures are becoming less relevant for the crypto market.
Bitcoin and crypto markets are following a cyclical pattern, with bull markets typically occurring after halving events, but a significant pullback is anticipated in the period leading up to the next halving event in April or May 2023, potentially causing a drop in BTC prices.
Bitcoin outperformed the cryptocurrency market as Ethereum and DeFi tokens experienced declines, with BTC reaching its highest market share since April 2021.
Bitcoin outperformed the cryptocurrency market as Ethereum and DeFi tokens slid, with BTC rising to near $28,500 and its market share reaching over 52%, the highest since April 2021.
Bitcoin and other cryptocurrencies experience a decline after a recent rally, but still remain close to the year's peak, as traders anticipate further advances.
