Bitcoin Nears Bottom? QCP Analysts Spot Signs of Capitulation as Prices Tumbl...
Recent trading patterns have led QCP Capital, a prominent trading firm, to highlight potential signs of a market bottom in the crypto market. Bitcoin, the leading digital currency, recently dipped below $58,000, causing analysts to focus on the behavior of miners and their possible capitulation. Such capitulation could indicate a market bottom, similar to past market cycles. In 2022, a parallel hash rate drop saw Bitcoin prices plummet to $17,000, suggesting a recurring theme that could signal an upcoming rebound. Related Reading: Buckle Up: Here Is Why Bitcoin Might Just Be Gearing Up For....
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People are wondering when and at what price bitcoin will bottom and there are many opinions on this matter. This article will not explore a certain price or date when bitcoin will bottom but some of the characteristics that need to be shown to know that a real bottom in place. Instead, this article will explore the concepts of panic selling and capitulation as well as what a bottom will look like if these things occur. To date, you have not seen either of these things play out in the bitcoin price, as the selling has been very orderly for quite a while. Essentially, capitulation comes from....
While many indicators suggest that the market bottom may be close, time will be the ultimate determinant, according to a new report from Glassnode. Bitcoin wealth is being distributed from weak hands to strong hands due to ongoing capitulation from retail investors and miners, signaling that the bottom may be close.The latest ‘The Week On-Chain’ report from blockchain analysis firm Glassnode on July 11 explains that market capitulations have been ongoing for about a month and that several other signals suggest bottom formations in Bitcoin prices. However, Glassnode analysts wrote that the....
To mine, or not to mine, that is the question. Professional Bitcoin miners discuss the nuance of BTC mining and whether now is a good time to get started. Your favorite trader is saying Bitcoin (BTC) bottomed. At the same time, the top on-chain indicators and analysts are citing the current price range as a “generational buy” opportunity. Meanwhile, various crypto and finance media recently reported that Bitcoin miners sending a mass of coins to exchanges are a sign that $17,600 was the capitulation move that pins the market bottom. There’s so much assurity from various anon and doxed....
Altcoins have seen some immense selling pressure throughout the past few days and weeks, bleeding against their USD and BTC trading pairs Bitcoin’s immense strength – which has allowed it to surmount $15,000 – is showing no signs of ending anytime soon Although this seems to be overtly positive for the crypto market as a whole, it is important to note that most altcoins have been plunging in value in tandem Some analysts are speculating […]
BTC’s sell-off is easing slightly, but traders are afraid that negative newsflow and future U.S. interest rate hikes could push the price lower. Bitcoin's (BTC) month-long choppy price action came to an end on June 13 after a deep market sell-off pressed the top cryptocurrency under the $29,000 support. The move took place as equities markets also sold off sharply, hitting their lowest levels of the year. Data from Cointelegraph Markets Pro and TradingView shows that the Bitcoin sell-off began late in the day on June 12 and escalated into midday on June 13, when BTC hit a low of $22,592.....