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 (BTC) remained stagnant around the $26,000 mark despite being heavily oversold, leading to concerns about a potential lower low and a decline to sub $20,000 levels, although some analysts are hopeful for a V-shaped recovery and a return to focus on $26,500.
Bitcoin and Ether both rose over 3% as the crypto market recovered from its losses last week, while alternative cryptocurrencies also saw gains; however, experts remain divided on the future of prices, with some predicting continued downtrend and others expecting a rebound.
Analyst Nicholas Mertens warns that both Bitcoin and Ethereum are likely to face significant challenges and potential price declines, with Ethereum at risk of breaking support and dropping below $1,000 due to a lack of buyers.
Bitcoin prices experienced a sudden drop last week, with analysts attributing it to large liquidations of perpetual futures and a report that SpaceX had sold the cryptocurrency, while industry insiders have mixed opinions on the impact of spot bitcoin ETFs and Coinbase's investment in Circle.
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.
Ethereum's price has surpassed Bitcoin's in the second half of 2023, as investor sentiment towards Ethereum has improved and Bitcoin dominance has declined, indicating a shift towards altcoins; Ethereum's oversold status and resilient consolidation above $1,500 suggest a potential bullish reversal in the coming days, but a drop below $1,500 is possible if bears gain control.
Bitcoin (BTC) remained relatively unchanged this week with a price of around $26,000, while the crypto market saw developments such as increased Bitcoin mining difficulty, negative reports on Binance, and the integration of USD Coin (USDC) on multiple blockchains. Additionally, there were updates on regulations, legal matters, crimes, and NFTs.
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 pulled back from its all-time high above $28,000 as investors analyzed the implications of Grayscale's court victory against the SEC, with the cryptocurrency dropping 2% to $27,240, while Ether decreased 1.7% to just above $1,700, leading to a decline in the broader crypto market.
Crypto prices, including bitcoin and major tokens, experienced a decline due to profit-taking and a general risk-off environment, erasing gains from Grayscale's court victory, with prices weakening ahead of the U.S. jobs report release.
The price of BTC dropped significantly following the SEC's delay of seven pending spot Bitcoin ETF applications, erasing the gains it made from Grayscale Investment's court victory.
Bitcoin remains in a tight range between $25,800 and $26,000 after a recent price spike, as the SEC's delay in key ETF decisions dampens hopes of a long-term recovery in the market.
Bitcoin and other cryptocurrencies experienced a decline as analysts predict further declines in the market.
Bitcoin continues to trade below $26,000, with the crypto market experiencing a sideways trend, while Deribit's options segment saw increased trading volume in August.
The price of bitcoin fell nearly 1% in the past 24 hours to below $25,700, following a surge last week after Grayscale's court victory, while the announcement of extended oil production cuts by Saudi Arabia and Russia could be bearish for bitcoin prices. However, Solana's SOL token saw a 3.7% increase after Visa's announcement of expanding its stablecoin settlement capabilities with Circle's USDC stablecoin to the Solana blockchain.
The price of bitcoin briefly rose above $25,900 after the FASB approved favorable accounting treatment for companies holding crypto on their balance sheets and ARK Invest submitted paperwork for a spot ether ETF, but quickly returned to its previous level.
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.
Crypto markets experienced a decline as FTX's potential selling pressure raised concerns, causing Bitcoin to fall below $25,000 for the first time since mid-June, and altcoins to underperform, particularly Solana (SOL).
Cryptocurrency prices experienced a sharp drop and rebound, leading to $256 million in liquidation losses over the past two days, as traders faced a wave of leveraged position closures due to market fears and sudden price swings.
Bitcoin trades at $25,933, up 0.66% as U.S. CPI data is anticipated to show a small increase in August, driven by rising oil prices, while digital assets remain stable due to short covering and liquidity crunch, although a sustained bullish momentum is yet to be seen; meanwhile, the price of CRV token falls by 3.3% following negative events and selling pressure.
Cryptocurrency prices remained stable as inflation in the U.S. surpassed economists' expectations, with Bitcoin trading at around $26,100 and Ethereum experiencing a slight dip of 0.5%. The Federal Reserve will consider this report, among other factors, for its upcoming interest rate announcement on September 20. While inflation has decreased since June, it still exceeds the Fed's target of 2% annually. Core inflation, excluding volatile food and energy costs, decreased to 4.3% in August compared to July's 4.7%.
Ether's price has recovered 6% after hitting a critical support level, but questions remain about whether it can reach $1,850 due to challenges such as regulatory uncertainty, high network fees, and declining smart contract activity. Additionally, derivatives metrics indicate reduced interest from leveraged long positions, suggesting a bearish sentiment in the market.
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.
The Bitcoin price may drop to as low as $21,750 in the coming months, according to technical and fractal setups.
Bitcoin (BTC) surpasses $27,000, while ether (ETH) holds support levels, but interest-rate decisions this week may bring downward pressure; overall market capitalization grows just 0.4% in the past 24 hours.
Bitcoin (BTC) briefly surpassed $27,000 before experiencing a 2% drop, resulting in liquidations of approximately $100 million in leveraged trading positions, with short traders suffering $60 million in losses and long traders experiencing $40 million in losses.
Bitcoin and other cryptocurrencies experienced a decline in prices due to the Federal Reserve's monetary policy decision, signaling an anticipated return to range-bound trading.
Deep-pocketed crypto investors have moved over $660 million worth of Bitcoin, Ethereum, and Chainlink as Bitcoin's price drops below $27,000.
Bitcoin (BTC) experienced a slight decrease in price after predictions of reaching $20,000 resurfaced, with market participants anticipating a "slow grind" to $28,500.