Bitcoin

For the first time, every single Spot Bitcoin ETF had an outflow day, and this led to a total $563 million total outflow for Wednesday. The $BTC price is teetering on the edge of a potential further dump. FOMC announcement sparks short-lived rally The FOMC meeting took place on Wednesday, and the Federal Reserve Chairman Jerome Powell said that progress had stalled in bringing inflation back to 2%. With this in mind, he said that interest rates would stay as…

BlackRock’s iShares Bitcoin Trust (IBIT) experienced its first-ever outflow day, with $36.9 million leaving the fund on May 1. This notable outflow broke a 77-day streak of stable or positive net flows, raising eyebrows among investors and analysts alike. Spot Bitcoin ETFs Experience Record Outflows This shift comes at a time when the broader US spot Bitcoin exchange-traded funds (ETFs) have also witnessed record net outflows. The outflows sum up to $563.7 million across various funds on May 1. Among…

The spot Bitcoin exchange-traded funds (ETFs) in the United States have recently observed a noteworthy trend, marked by a consecutive six-day period of outflows. Notably, BlackRock’s IBIT ETF encountered its first instance of outflows just yesterday. This development coincides with bitcoin navigating through its most challenging month since the aftermath of the 2022 FTX collapse, registering a notable decline of 11% over this week. Record Breaking Outflows and Market Downturn According to data from Farside Investors, BlackRock’s Bitcoin fund saw…

TL;DR Bitcoin (BTC) experienced another sharp decline, falling to a multi-month low of approximately $56,600. Shiba Inu (SHIB) saw its price fall by 13% over the week, despite advancements in its ecosystem and a significant increase in its token burn rate, aimed at reducing supply. Ripple’s XRP maintained relative stability in a turbulent market, with analysts predicting substantial future price increases based on strong technical signals. BTC Price Swings The cryptocurrency market flashed red in the past several days, with vitcoin…

Bitcoin is facing a critical juncture as it has entered a ‘danger zone,’ according to prominent gold advocate Peter Schiff. This investor, known for his skepticism toward Bitcoin, suggests that the cryptocurrency is entering a “do or die” phase, potentially marking the end of its bullish run if current trends continue. Breaking Points And Bearish Signals Peter Schiff has often voiced his bearish outlook on Bitcoin, and his latest comments come as Bitcoin has just slipped below the crucial $60,000…

Bitcoin price extended losses and settled below $60,000. BTC is now consolidating losses near $58,000 and remains at risk of more downsides in the near term. Bitcoin extended losses and traded below the $60,000 zone. The price is trading below $59,000 and the 100 hourly Simple moving average. There is a major bearish trend line forming with resistance at $58,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down since…

Co-founder and Chief Executive Officer (CEO) of Real Vision, Raoul Pal has shed light on the current market state and the future outlook of Bitcoin, the world’s largest cryptocurrency. Despite the cryptocurrency witnessing declines of more than 15%, the financial expert has uncovered a significant pattern that indicates a potential bull flag following Bitcoin’s price correction.  Crypto Expert Unveils “Banana Zone” Rally For Bitcoin In an X (formerly Twitter) post published on Tuesday, April 28, Pal shared a yearly chart…

Bitcoin has recently concluded April, marking its most significant monthly decline. Despite the bearish momentum, leading market analysts, including Michael van de Poppe, believe that the worst may soon be over, suggesting that Bitcoin is nearing the end of its current correction phase. Bitcoin At The End Of Correction? April was challenging for Bitcoin, as its value plunged nearly 20%, dipping below $57,000, the lowest level traded since late February. This drop is part of an intense market sell-off that…

As May 1st started, Bitcoin (BTC) faced a new correction that made the price stumble under the $60,000 support level. The flagship cryptocurrency has seen several retraces during this bull cycle, with BTC swiftly recovering the crucial support zones each time. However, in the past 24 hours, the largest cryptocurrency by market capitalization has struggled to regain its momentum. Some analysts believe Bitcoin’s bottom this cycle might be in as this correction officially became its deepest retrace. Is The Bitcoin…