Bitcoin Observes Pullback To $58,000: Is This The Cause?
Bitcoin has observed a pullback down to the $58,000 level during the past day. Here’s what could be the cause behind it, according to on-chain data. Exchanges Have Seen A Large Amount Of Tether Withdrawals Recently According to data from the market intelligence platform IntoTheBlock, centralized exchanges have recently seen a Tether (USDT) outflow spree exceeding $1 billion. Related Reading: This Is The On-Chain Level That Made The Bitcoin Crash Bottom Investors usually keep their coins in exchanges when they want to trade them in the near future, so them making the move to withdraw....
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The general crypto market has experienced a strong downward movement. Ethereum is no exception to this bearish development since the digital asset has experienced a pullback below key support levels. With waning market performances hindering investors’ sentiment toward ETH, the altcoin is likely to undergo an extended pullback in the upcoming days. Bearish Forces Weigh […]
Bitcoin price might be in for a quick pullback to the broken triangle support before carrying on with its drop. Bitcoin price has formed a small double bottom pattern, indicating that a quick rally could take place. This could stall around the broken triangle support near the $430 level and the 61.8% Fibonacci retracement level. A shallow pullback could last until the 50% level or the $428 mark, which is also near the dynamic resistance at the moving averages. For now, the 100 SMA is above the 200 SMA but a downward crossover could confirm that the selloff is about to resume. An even....
Bitcoin has seen some wild price action today, setting new all-time highs before facing a 10% pullback that took place over the span of a few minutes This pullback was short-lived and has mostly been erased in the time since This type of volatility is to be expected in bull markets and is certainly not […]
Even though Solana seems to have lost its recent upward momentum, leading to a notable pullback to the $136 price level, there is a possibility that the brief bullish move was just the beginning of a much bigger upsurge. In light of the pullback, many crypto analysts have predicted a potential price reversal for SOL […]
Investors and traders of Dogecoin have been struck with liquidations following a notable price pullback, triggered by a broader crypto market whirlwind. Dogecoin has dropped below the $0.30 level, finding support at the $0.25 mark. While this correction has triggered fear and uncertainty, analysts claim it is a key part of DOGE’s journey to new […]