Bitcoin

The post Bitcoin News Today : BTC Price Faces Its Worst Month, How Low Will it Go? appeared first on Coinpedia Fintech News Bitcoin (BTC) is facing its worst month of the year, dropping over 12% in the past 24 hours to trade around $51,000 early in the New York session on Monday. With over $1.1 billion liquidated from crypto-leveraged markets, web3 investors are feeling a wave of despair and uncertainty. The Bitcoin Fear and Greed Index has fallen to…

The Relative Strength Index (RSI) is an important indicator for any cryptocurrency, and Bitcoin is no different. Given that the pioneer cryptocurrency has been around the longest, the abundance of data makes it possible to use this indicator in an attempt to pinpoint where the price might be headed next. This time around, the indicator is turning bearish, which means that the Bitcoin price could be headed toward further decline from here. Analyst Says RSI Is Turning Bearish For Bitcoin…

The post Will The Crypto Market Recover As Bitcoin Hits $50K? Or More Crash On Horizon? appeared first on Coinpedia Fintech News The Bank of Japan’s rate hikes led to a global market sell-off by affecting the profits of carry-forward traders. With the increased rates of overborrowing, investors closed their existing positions in risky instruments to pay off their debts. Amidst such volatility, Bitcoin and altcoins take a massive hit as the crypto market flow is highly dependent on international…

The post Emergency Fed Rate Cut: What It Means for Bitcoin and the Global Crypto Market appeared first on Coinpedia Fintech News In response to a severe global crypto market crash, the U.S. Federal Reserve (Fed) has called an emergency meeting today. This decision comes as Japanese markets face a substantial collapse, with the Japanese yen plummeting by 13%, and other Asian markets, including Korea and Taiwan, seeing declines of nearly 10%. Bitcoin has also been hit hard, experiencing an…

Over the past 24 hours, the crypto market has witnessed a severe downturn, with Bitcoin’s price tumbling down 15% to a low of $49,000 on Binance (BTC/USDT), marking a significant departure from its $70,000 high last week—a 26% crash. Similarly, Ethereum (ETH) plunged 39% from $3,400 to $2,100. This downward trend was not isolated but echoed across the altcoin spectrum, which experienced even steeper declines. #1 Recession Fears Cause Bitcoin Crash The initial spark for the current market volatility appears…

Bitcoin crashed spectacularly on Sunday, with the price of $BTC plummeting as far down as $49,300. The US economy is signalling a recession, and war is brewing - will Bitcoin be able to recover in such an environment? Sunday carnage The last eight days for Bitcoin have seen some torrid price action. Since spiking through the top of its bull flag on 29 July, the $BTC price has seen a nigh on 30% correction from top to bottom, corresponding to…

The sudden drop in the crypto market today has garnered significant attention. Bitcoin (BTC), the largest cryptocurrency by market capitalization, briefly dipped to $49,000 before stabilizing at $52,765. Ethereum (ETH) mirrored this volatility. CoinGecko data shows it briefly touched $2,100 before trading at $2,359. Investor Nerves Shaken as Crypto Volatility Surges These swift fluctuations led to extensive liquidations. According to Coinglass data, the liquidation amount in the last 24 hours has reached $1.06 billion, with $901.33 million from long positions…

Bitcoin mining difficulty continues to increase, reaching an all-time high in early August as crypto markets crashed. In the aftermath, the profitability of miners continues to suffer as BTC mining machines fall below their break-even point. Bitcoin Miners Capitulate as Mining Difficulty Soars Head of Research at Galaxy Alex Thorn recently highlighted the 24th biggest increase in Bitcoin mining difficulty since 2016. According to f2pool, at Bitcoin’s current price of $52,982, BTC mining difficulty is at a 90.67 hashrate. “Today,…

For the first time since February, Bitcoin’s (BTC) price has fallen below $50,000. In the early hours of August 5, the coin ranked as the most valuable cryptocurrency dropped as low as $49,032. The decrease is part of a broader crypto sell-off that has caused panic in the market. Further, this development was also a result of macroeconomic factors affecting the crypto ecosystem. Global Market Changes Force Bitcoin Down According to Bloomberg, the Bank of Japan’s unexpected increase in interest…