Bitcoin

The post Bitcoin Breaks Under $60K As ETF Markets Down For Second Week Straight appeared first on Coinpedia Fintech News The Bitcoin ETF market is heating up with some wild swings! Last week, the Bitcoin spot ETF surged with a $169 million inflow, while Grayscale’s GBTC hit a rough patch, suffering a significant $391 million outflow. However, BlackRock’s IBIT showed strength, pulling in $219 million. Bitcoin itself faced a tumultuous week, breaking under $60,000 on Sunday with a 3.65% drop,…

The post Crypto Market News Today: Bitcoin Crashes Below $59,000—Ethereum Heads to $2500, Altcoins Consolidate appeared first on Coinpedia Fintech News Yet another weekend remained under bullish influence as market sentiments turned extremely bearish during the weekend. Bitcoin faced massive selling pressure, which eliminated 50% of the gains incurred in the previous week. While the bulls are unsure of the next price action, the bears appear to be waiting for the right time to jump in. Therefore, the bearish clouds…

Bitcoin price started a downside correction from the $62,700 resistance zone. BTC is now consolidating near $58,500 and struggling to recover. Bitcoin started a decent downward move below the $61,500 and $60,000 levels. The price is trading below $60,000 and the 100 hourly Simple moving average. There was a break below a key bullish trend line with support at $61,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might decline further if it trades…

Bankrupt crypto lender Celsius Network has initiated legal proceedings against Tether, the company behind the USDT stablecoin. The lawsuit, which was filed concerning a contract dispute dating back to 2022, alleges that Tether violated their agreement by unjustifiably liquidating 39,542.42 Bitcoins that were held as collateral for a loan issued in USDT. Celsius contends that Tether’s decision to sell the Bitcoin at that time was improper and a breach of the loan agreement. Celsius Files Lawsuit Against Tether Celsius Network’s…

Bitcoin (BTC) holders faced a rough period last Monday as the price crashed from $61,000 to $54,000 within a few hours. This decline, tagged as one of the worst days for BTC this year, caused massive losses and liquidations.  While the coin has reclaimed the previously lost peak, data shows that the BTC price may still be in danger of another decrease. Bitcoin HODLer Behavior Lacks Confidence A crucial metric fueling this bias is Bitcoin’s Holder Net Position Change. The Holder…

The recent slide in price of Bitcoin below the $60,000 threshold, followed by a subsequent drop below $50,000, might finally be showing signs of reversal, as suggested by the latest buying trends. These trends indicate a strong accumulation phase among large-scale investors, commonly known as whales, who have been capitalizing on the price dip to bolster their crypto holdings. As such, Bitcoin addresses have collectively withdrawn over $1.7 billion worth of Bitcoin from various exchanges, marking the largest weekly outflow…

The price of Bitcoin has shown no significant movement in the last day rising by only 0.78% according to data from CoinMarketCap. Following a widescale crash in the global financial markets, the crypto market leader pulled off a strong recovery in the past week, gaining by 16% to reach a peak of $62,000. As Bitcoin currently retains a sideways movement, crypto analyst Michaël van de Poppe has revealed a likely condition for the token’s next bullish run.  Bitcoin Poised For…

The post ‘Don’t Panic’: Top Analyst Says Bitcoin Will Hit $175,000 This Market Cycle appeared first on Coinpedia Fintech News Bitcoin is at a critical point, and crypto analyst Caleb Franzen is paying close attention. He recently analyzed a key chart that tracks Bitcoin’s performance since the end of 2022, focusing on the 200-day moving average. In an interview with Thinking Crypto, Franzen explained that Bitcoin’s recent drop below these long-term averages is concerning. In bull markets, prices usually stay…

Most large-cap cryptocurrencies, including Bitcoin and Ethereum, have not exactly lived up to the hype and promise in the second half of 2024. Investors saw the general market experience a negative start to the past week, with most assets shedding a significant portion of their value. Interestingly, this recent price action has offered a unique insight into the current state of the crypto market and its relationship with the macro capital markets. Spot Bitcoin ETFs Vs. Ethereum ETFs — Relative…