Bitcoin has suffered a decisive breakdown from its multi-month rising channel, triggering a sharp sell-off that pushed the price toward a major support cluster around $65K. The rejection from the 100-day moving average and the inability to reclaim lost support levels suggest sellers remain in control in the near term, although $BTC is now approaching
Bitcoin ($BTC) has dropped 8% to a nine-week low of $65,360 from Tuesday’s high of $71,300 amid increasing geopolitical risks surrounding the US-Iran war. Key takeaways: Bitcoin slipped to $65,000 on Wednesday in a market-wide correction, liquidating $774 million in longs. Traders say Bitcoin needs to hold $60,000 as support to avoid a deeper correction
The leading cryptocurrency, Bitcoin ($BTC), surged above $82,000 in the first week of May, but this was short-lived. Since mid-May, factors such as rising geopolitical risks in the Middle East and increased ETF outflows have caused the $BTC price to fall to $65,000. However, Bitcoin has reached its lowest point at the Power Law level,
Bitcoin has returned to the center of market attention after prediction markets assigned nearly even odds that the cryptocurrency would fall below $50,000 before the end of 2026. The forecasts emerged after Bitcoin declined from approximately $71,300 to $66,500, leaving the asset more 30% below its 2026 high above $100,000. At the time of writing,
A monthly research report from Bitwise’s European arm published this week pegs bitcoin’s theoretical “fair value” at roughly $224,000 if the asset were widely adopted as portfolio insurance against G20 sovereign debt defaults. The research team described the figure as a “model-implied illustrative figure, not a price target or forecast,” however. The figure stems from
Strategy’s (MSTR) recent bitcoin sale has had an outsized impact on market sentiment, but Wall Street bank Citi does not see the move as changing the company’s long-term strategy. The bank said the sale was anticipated after Strategy signaled plans to dispose of certain tax-disadvantaged bitcoin holdings during its first-quarter earnings call as part of
After briefly falling below $66,000 on Wednesday, bitcoin is trading near the bottom of the Power Law corridor, a level that has historically come shortly before rebounds in the price of the largest cryptocurrency. The model, popularized by physicist Giovanni Santostasi and refined by Porkopolis Economics, plots bitcoin’s price against time on a logarithmic scale
Bitcoin’s aggressive break below $70,000 has shifted the market from a debate over dip-buying to a more defensive question of how far traders now need to insure against the next leg lower. Data from CryptoSlate showed that the largest cryptocurrency fell to as low as $65,404 over the past day, triggering $1.8 billion in liquidations