Bitcoin (BTC) faces uncertainty and fear in the market as it struggles to recover from a 10% crash, with short-term holders experiencing increasing unrealized losses and on-chain transactions setting multiyear highs. Traders are cautious about the outlook, but historical patterns and upcoming events, such as the Jackson Hole Economic Symposium, may provide opportunities for recovery.
Short-term holders of Bitcoin are currently experiencing unrealized losses, with 88.3% of their supply underwater, leading to increased selling pressure in the market and potential liquidation by these holders.
Bitcoin's longest-ever period of negative year-over-year returns is coming to an end, according to Dan Morehead, founder of Pantera Capital, who believes that the market can only stay down for so long. Despite last week's downturn, Bitcoin is currently up over 20% from the previous year, and positive catalysts such as the XRP court ruling and endorsements from asset managers could further boost its value, along with the upcoming halving in April 2024. Morehead's models suggest Bitcoin could reach around $35,500 by the halving and nearly $150,000 by late 2025.
Bitcoin might experience a period of stagnation followed by a potential peak at $200,000 by the end of 2025 or early 2026, according to a crypto analyst, although short-term prospects for Bitcoin appear challenging due to a comparison with the 1930s stock market and oversold condition.
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's recent correction and regulatory news have caused a wave of selling, but analysts from JPMorgan believe that the sell-off may be nearing its end phase, with limited downside predicted for the crypto market in the near term.
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 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 is predicted to experience a 10% slump in September, according to strategy analyst Benjamin Cowen, who also believes that altcoins will see a recovery due to a combination of macro factors.
Bitcoin and other cryptocurrencies are experiencing a decline as analysts predict further decreases ahead.
Bitcoin's daily chart is showing a death cross, indicating short-term price momentum underperforming the long term, potentially leading to a bearish trend, while the strengthening U.S. dollar and macro developments suggest tough times ahead for risk assets, including cryptocurrencies.
Bitcoin (BTC) remains near a key long-term trendline as the U.S. dollar strengthens, with market participants predicting further downside for BTC and altcoins.
Big tech stocks and cryptocurrencies, including Bitcoin, may underperform in the coming years due to contracting market liquidity and the Federal Reserve's hawkish policies, according to crypto analyst Nicholas Merten.
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 is said to be at a crucial turning point, with a potential accumulation phase underway and an upcoming decisive move, according to the co-founders of Glassnode. They also caution against exposure to altcoins and advise waiting for Bitcoin's stability before considering investments.
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 (BTC) experienced a short squeeze, leading to a rally in prices and a decline in open interest in futures and perpetual swaps trading. However, the lack of immediate bullish catalysts may cap the price recovery.
Bitcoin and other cryptocurrencies advanced on Friday, but a key technical indicator suggests that losses are likely coming.
