Why is Bitcoin taking a downtrend over the past week, failing to hold up its recent gains and positive momentum. Summary Bitcoin is trading at $113,721, down 1.5% in 24 hours, with weekly losses above 55%. Large-scale profit-taking by long-term holders and loss-selling from short-term investors has added significant downward pressure on Bitcoin. Bitcoin (BTC)
According to Maartunn, a community analyst at on-chain data platform CryptoQuant, $5.69 billion worth of Bitcoin flowed to crypto exchanges at a loss in 48 hours as short-term holders capitulated. Deposits to exchanges often imply an intent to sell; this is the case as the market has seen a drop since the start of the
With $110,000 in sight as traders consider Fed signals and cooling accumulation, Bitcoin’s rise has reached a temporary roadblock. Summary After a steep post-ATH decline, Bitcoin is now consolidating around the mid-$110Ks; the tone was set by profit-taking into August 16. A $ 110,000 sweep remains on the table after a failed reclaim; on-chain data
This is a daily analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole. Bitcoin BTC$113,859.77 bulls are attempting to establish an interim low around $113,000, but the effort appears weak in terms of both price and volume. So far, the bounce has been barely notable, with upside capped above $114,000. Additionally, volumes have stayed
Crypto whales and institutional investors are on a selling spree, which is causing cryptocurrency prices to go down. A crypto user on X highlighted some parties involved in the ongoing crypto selloff, including those taking short positions and long trades that are being liquidated. That explains the market-wide pullback that cryptocurrencies have experienced in the
Tim Kotzman sat down in a New York studio in September 2023 to record a podcast, something he saw as little more than an experiment. The first few episodes drew almost no attention. Kotzman had no background in journalism, and his only prior podcast experience was appearing on a friend’s show to discuss his private
Retail crypto traders have seemingly flipped bearish after Bitcoin failed to pick itself up from a recent dip below $113,000, clocking a 17-day low. “Retail traders have done a complete 180 after Bitcoin failed to rally and dipped below $113,000,” said analysts at blockchain analytics firm Santiment on Wednesday. Santiment also reported that the past
On-chain data shows the Bitcoin sharks and whales have been accumulating during the latest price decline, a sign that could be bullish for the asset. Bitcoin Sharks & Whales Have Bought Over 20,000 BTC In This Dip In a new post on X, on-chain analytics firm Santiment has shared how some of Bitcoin’s key investors