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.
The cryptocurrency market has experienced a notable downturn, with the total market capitalization falling by 10% and triggering significant liquidations on futures contracts, attributed to factors such as rising interest rates, inflation, delays in approving a Bitcoin exchange-traded fund (ETF), financial difficulties within the Digital Currency Group (DCG), regulatory tightening, and a strengthening US dollar.
Federal Reserve Chair Jerome Powell cautions that inflation is still too high and hints at the possibility of raising interest rates further, leading to uncertainty in the markets; meanwhile, Pantera Capital predicts that Bitcoin could reach $35,000 by 2024 and potentially climb to $148,000.
Bitcoin briefly dipped below $26,000 after US Federal Reserve Chair Jerome Powell hinted at the possibility of raising interest rates again, but has since rebounded to over $26,000.
Bitcoin experienced a dip in price after the U.S. Federal Reserve Chair hinted at the possibility of an interest rate hike, but an on-chain indicator suggests that Bitcoin is undervalued and presents a good opportunity for long positions in the coming week.
The average transaction fee on the Bitcoin network has dropped by over 15% due to a decrease in daily transactions, while the price of BTC remains stagnant at around $26,000.
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 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 has experienced a significant decline of nearly 20% since Standard Chartered's prediction of reaching $120,000, with the cryptocurrency falling for a second consecutive month amid a broader sell-off in financial markets.
Bitcoin and other cryptocurrencies are experiencing low volatility and waning investor interest, with Bitcoin remaining below $26,000.
Bitcoin showed some signs of stirring from its September stupor, rising around 3% to $26,400 before dropping back below $26,000, while Coinbase plans to expand internationally and MicroStrategy's bitcoin impairment losses may be resolved with changes to accounting standards.
Bitcoin could decline by more than 60% if Apple's market cap continues to decline, according to crypto analyst Nicholas Merten. A plummeting Apple market cap would have a significant impact on Bitcoin and other equities.
The recent decline in the price of Bitcoin has raised concerns of a larger market downtrend, with Ethereum and Ripple also at risk of falling if Bitcoin weakens further.
The price of bitcoin rebounds by 4.5% as fears around FTX liquidations ease and investors cover short positions, but uncertainty remains due to weakened momentum and lack of clear market catalysts.
Bitcoin's recent dip below $25,000 is seen by some as a buying opportunity, but the low amount of BTC changing hands and the risks associated with a potential price increase suggest otherwise.
The recent increase in interest rates has impacted the price of bitcoin, with factors like opportunity cost, risk sentiment, and inflation expectations playing a role.
Bitcoin could potentially surge over 70% in a move similar to 2015, as crypto analyst Michaël van de Poppe observes patterns that indicate a sustained trading range before a significant upside move ahead of the 2016 halving event.
Bitcoin price may experience a 10% drop before its next move upwards, while Ethereum could follow suit and fall by 10% as well, and Ripple's price is poised for a significant move after breaking a major trendline.
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 could experience significant inflows from China in the coming months due to a weakening Chinese yuan and increasing capital flight, with Chinese investors turning to Bitcoin as a familiar investment in times of economic uncertainty, according to experts. The recent data shows that China's capital outflow reached its highest level since 2015 in August, potentially putting further pressure on the yuan. While Chinese capital controls may limit investment options, cryptocurrency, particularly Bitcoin, is seen as a viable alternative. However, analysts caution that the impact of Chinese capital flight on Bitcoin may not be as significant as it was in 2017 due to changes in regulations and crackdowns on certain practices.
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, Ethereum, and Solana could experience significant price declines, with Bitcoin potentially dropping by over 20% and Ethereum and Solana also facing dips, according to crypto strategist Kaleo.
Bitcoin rose 2% to $26,750 during early U.S. trading hours, defying the strong dollar and driven by spot market buyers and a short squeeze, accompanied by an increase in net capital inflows in the spot market.
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 is on track for its first quarterly drop of the year, declining approximately 11% since June, amid global economic uncertainties and investor apprehension, leading to significant withdrawals from cryptocurrency ventures.
Bitcoin's price dropped 4.5% after failing to break resistance at $28,500 due to disappointing performance of Ether (ETH) futures ETFs and concerns about an upcoming economic downturn, while the traditional finance industry's impact on investor confidence is discussed.
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 experienced a brief rally above $28,000 but quickly dropped to $27,300, remaining relatively flat compared to the wider crypto market; however, it is still defying the market rout in equity and U.S. Treasury bond trading, signaling a bull market, according to ByteTree's chief investment officer.
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.
A spike in interest rates has negatively impacted stocks and bonds, but Bitcoin may continue to rise regardless of the rate changes.
The possibility of a 50% crash in the S&P 500, a recession next year, and falling house prices are predicted by Jeremy Grantham, who also criticizes bitcoin as a scam and advises against investing in US stocks or real estate.
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's price may experience a significant drop to $19,000 before entering a full bull market next year, according to a trader who accurately predicted the cryptocurrency's 2018 bear market bottom; the trader also suggests that the smart contract platform Avalanche's altcoin bounce is over after failing to break resistance at $11.
Bitcoin slipped 1.2% to trade just over $27,000 as worsening scenarios in the Hamas-Israel conflict shattered investor confidence in riskier assets.
Crypto strategist Benjamin Cowen predicts that Bitcoin could fall by at least 8%, which could have a negative impact on altcoins and potentially lead to a significant decline in the altcoin market.
Bitcoin jumped 4.5% amid hopes for the approval of a bitcoin exchange-traded fund (ETF), potentially clearing the way for the first bitcoin ETF in the US.