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's volatility is expected to decline, signaling a maturation process and potential retracement period, according to Bloomberg analyst Mike McGlone.
The recent price pullback in Bitcoin and the cryptocurrency market is not surprising, as most risk assets typically suffer when the S&P 500 falls; however, volatility for both Bitcoin and the S&P 500 is declining, which suggests mainstream migration and a potential lack of price-pump potential for Bitcoin.
Cryptocurrency traders are preparing for increased volatility in the market after bitcoin's recent plunge, as indicated by on-chain data showing a surge in implied volatility and adjustments in traders' strategies.
Bitcoin's price dropped below $26,000, losing most of its gains from the previous day, as both cryptocurrencies and traditional markets experience a significant downtrend.
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 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 on-chain activity is at multiyear lows, with a decrease in velocity indicating a lack of major trading activity and new investors entering the market, resulting in a stagnant BTC price.
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.
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.
Bitcoin's price dropped below $26,000 as the approval of a Bitcoin ETF was further delayed by the SEC, reversing the bullish gains from the Grayscale court decision earlier in the week. The crypto market also experienced a decline, with Ethereum's price going down by 3.5% and the overall market cap losing $11.2 billion. However, Maker and Toncoin managed to resist the bearish trend with positive gains. The global macroeconomic landscape also added to the uncertainty, as key economic data raised doubts about a potential interest rate hike.
Bitcoin, the pioneer digital currency, is showing signs of declining interest as trading volumes and search traffic decrease, indicating a period of uncertainty and potential downside movement in the market.
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'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.
Bitcoin and other cryptocurrencies are experiencing low volatility and waning investor interest, with Bitcoin remaining below $26,000.
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.
Bitcoin and the overall digital asset market have seen a significant decline, with Bitcoin dropping to its lowest price in three months at $25,048, attributed to failed crypto exchange FTX seeking approval to liquidate $3.4 billion in various digital assets.
Bitcoin, ethereum, and other top cryptocurrencies have been struggling recently despite the market conditions, as the bitcoin price drops and Coinbase plans to integrate bitcoin's lightning network, potentially causing crypto price chaos.
August saw the crypto markets experience a downturn, with Bitcoin and Ether losing significant value due to liquidations on the derivatives market, while venture capital investment in the blockchain industry hit a new low and derivatives drove negative sentiment for Bitcoin.
Bitcoin and other cryptocurrencies experienced a rise in value as traders made bullish bets in anticipation of the Federal Reserve's interest rate decision, though this surge may be premature.
Bitcoin experienced volatility as the Federal Reserve maintained interest rates, with experts predicting no more rate hikes and the potential for Bitcoin to trend upwards.
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.
Dogecoin's volatility has decreased to the point where it is now more stable than Bitcoin, indicating a lack of investor interest in alternative cryptocurrencies and a drain of liquidity toward Bitcoin.
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 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 and Ether fell below key price levels as cryptocurrency markets retreated following the US Federal Reserve's hawkish stance on interest rates, with more downward movement expected for Bitcoin as it fails to break its 50-day moving average, while Ether's failure to rally above the $1,650 support level could have significant implications for altcoin sentiment.
Bitcoin trading volume has significantly decreased, reaching levels not seen since 2018, as traders navigate macroeconomic uncertainty and fear of a possible recession caused by US economic policy.
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 and other cryptocurrencies remained stable or slightly increased in value despite market turbulence, raising questions about the stability of Bitcoin.
Bitcoin's volatility has been declining since April, raising questions about whether this lower volatility is the new norm or the calm before a major spike in value, with its future price trajectory heavily dependent on this metric.
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 (BTC) experienced decreased volatility as it struggled to push past the $28,000 mark and faced concerns from market participants over potential losses to come.
Major cryptocurrencies experienced a decline as investors awaited crucial jobs data that could impact interest rates, with Bitcoin, Ethereum, and Dogecoin all seeing price drops.
Bitcoin and other cryptocurrencies experienced a slight decline along with the wider market, but analysts are optimistic that the recent uptrend will persist.
Bitcoin has decoupled from traditional equities such as the S&P 500, with its price trajectory no longer mirroring that of major indices, highlighting the changing dynamics between traditional financial markets and the cryptocurrency sector.
