As bitcoin trades near its 200-week moving average, a long-term support indicator currently sitting around $62,400, investors are closely watching whether the level can hold. If the 200WMA breaks, attention is likely to shift to bitcoin’s realized price, currently around $53,457, which has historically acted as the final line of support during major bear markets.
Bitcoin’s price was rejected at almost $66,000 yesterday, and the crash has worsened over the past few hours, with the asset dumping below $63,000. Most altcoins have followed suit, including many of the larger-cap ones, which has increased the total value of liquidations from over-leveraged positions. Why Is Crypto Down Today? After a calm weekend
Strategy is raising funds through equity sales and using that to add more Bitcoin [$BTC] to its arsenal! As it stands, sentiment is weak, so investors are not fully back in profit-taking mode. Hence, the timing here is very peculiar. Strategy sells… and buys too! Between 15 and 21 June, Strategy sold 2.71 million MSTR
A strengthening US dollar could put further pressure on Bitcoin, which is already suffering from major institutional selling pressure amid geopolitical uncertainty and increasing inflation. “The bear market was confirmed almost exactly when the DXY found its bottom,” said Swissblock analysis on Monday. “At first, the dollar decline looked supportive for $BTC. But the reversal
Bitcoin price has retreated toward key support after progress in U.S.-Iran talks sparked a broad selloff across risk assets and accelerated liquidations in crypto markets. According to data from crypto.news, Bitcoin ($BTC) price slid as much as 2.2% to an intraday low near $62,560 on June 23 before stabilizing around the $62,800 area. The drop
As talks between the US and Iran begin in Switzerland, significant steps are being taken by both countries as part of the negotiations. Accordingly, Iran committed to ensuring unimpeded freedom of navigation through the Strait of Hormuz and granting International Atomic Energy Agency (IAEA) inspectors full access to its nuclear facilities. The US, meanwhile, issued
The declines seen in US stocks yesterday were first reflected in Asian markets this morning. Chip manufacturers, in particular, experienced sharp sell-offs, and these declines caused Bitcoin to fall to $62,000 and gold to drop to $4,100 per ounce. While Bitcoin remains above the $62,000 level, analysis firm QCP Capital predicts that BTC and the
Bitcoin ($BTC) neared two-week lows on Tuesday as Asia stock markets pulled back on a tech sell-off. Key points: Bitcoin heads lower with Asia equities as “unprecedented inflows” become a tech-driven rout. Analysis warns of “new lows” for $BTC price, with one target at $54,000. Options markets continue to seek a suitable catalyst for volatility.
Fed Policy Expectations Drive Divergence Across Markets Grayscale Investments is tying bitcoin’s lag behind equities to a repricing of Federal Reserve policy, arguing that bitcoin could narrow the performance gap with stocks if the Fed holds off on rate hikes. In a June 22 research note, the crypto asset manager said changing rate expectations have