Bitcoin Rebounds Above $85,000 Amid Weak Market Demand
Bitcoin (BTC) is experiencing a notable price recovery, reclaiming the $85,000 level after a 4.3% increase in the past 24 hours. This rebound has sparked renewed optimism among investors, who are now looking for signs of further momentum in the market. However, while Bitcoin is showing signs of a potential uptrend, on-chain data suggests that market demand remains weak, which could impact the sustainability of this rally. Related Reading: Bitcoin & Altcoin Volume Fades—Investor Exhaustion Setting In? Bitcoin Demand Drops Despite Price Recovery Recent on-chain analysis by CryptoQuant....
Related News
Given Ethereum‘s waning performance, despite being the second-largest digital asset, crypto enthusiasts are beginning to demonstrate heightened uncertainty toward ETH. Presently, ETH’s market sentiment has witnessed a significant decline as the altcoin’s weak price action persists, triggered by a broader crypto market downswing. Market Turns Cautious On Ethereum’s Short-Term Prospects Ethereum’s market sentiment has witnessed […]
Bitcoin has experienced massive price swings since the weekend, dropping to $91K before staging a strong recovery above $100K. However, BTC now sits around $98K, struggling to maintain momentum amid ongoing trade war fears that have shaken global markets. The uncertainty surrounding these geopolitical developments has played a significant role in Bitcoin’s volatile performance, and […]
Bitcoin has been flashing some signs of intense weakness throughout the past few days and weeks, which has caused the cryptocurrency’s price to decline below $18,000 on a few occasions. So far, the buying pressure here has been significant enough to catalyze multiple rebounds, but its reactions to each dip are getting weaker as time […]
Last week's rout in bitcoin market looks like "weak hands" selling out because bidders appeared to materialize whenever prices fell to $30K.
Bitcoin might be weak at spot rates, sliding roughly 13% from $74,800 amid intense liquidation pressure. Even as prices retract from all-time highs and $66,000 proves to be a mirage, analysts are upbeat about what lies ahead. Most expect the coin to surge towards the all-important psychological line, $100,000, in the coming days or weeks. […]