Bitcoin’s Price Sees Drop as Altcoin Traders Face Increased Pressure
Bitcoin’s recent upward trajectory has encountered resistance after reaching a record-breaking peak of over $111,000 last week. Following this new all-time high, Bitcoin has retraced approximately 4% in the past seven days, bringing its current trading price down to $105,485. This represents a daily decline of 1.8%, reflecting cautious market sentiment and potential profit-taking among traders. In light of these recent price movements, a CryptoQuant analyst has been closely observing market dynamics, particularly concerning the launch of the Bitcoin Exchange-Traded Fund (ETF). A detailed....
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Crypto analyst Altcoin Sherpa recently suggested that the Bitcoin bottom isn’t yet in and that the flagship crypto could still drop to new lows. Meanwhile, other crypto analysts like Mikybull Cypto have made a case for why the bottom is in and suggested that it is unlikely that Bitcoin will drop below $50,000 again. Bitcoin Bottom Is Likely At The $40,000 Range Altcoin Sherpa mentioned in an X (formerly Twitter) post that Bitcoin is more likely to find its bottom at the $40,000 range rather than at 50,000. He noted that this would mean a “few more nasty wicks, a few more liquidations, and....
Since bitcoin’s significant price rise, altcoins have been brushed off to the side as bitcoin’s dominance climbed to 87.4 percent. Altcoin interest has waned as each alternative digital asset has lost market capitalization over the past two months. There are various reasons. All Eyes Focused on Bitcoin. Let’s face it: all eyes are on bitcoin’s price....
Litecoin is one of the many altcoins whose prices have fallen over the past 24 hours. On Tuesday, the bitcoin price rallied, passing the $400 threshold and reaching $426.08 at press time. The bitcoin price increase has had a negative effect on altcoin prices. Most of the top altcoins have experienced price decreases in the past 24 hours. Bitcoin Price Explosion Leads to Altcoin Price Drop. The bitcoin price rose more than 16% on Tuesday, increasing bitcoin's market cap to ~$5.75 billion. Most altcoin prices are tied to the bitcoin price because bitcoin is the primary trading pair for....
Litecoin’s bullish momentum has cooled off, with the price sliding back to $97.8 after struggling to sustain its recent uptrend. The pullback comes amid increasing selling pressure, raising concerns about whether this is a temporary correction or the start of a deeper decline. While LTC previously showed strength, the inability to maintain higher levels suggests that market sentiment is shifting, leaving traders questioning the coin’s next move. As the price approaches key support levels, traders are closely monitoring market signals to determine the next move. Will buyers step in to....
Bitcoin has undergone some shaky price action after a push to $19,000 this past week. Ki Young Ju, CEO of Crypto Quant, recently said that the coin could face a correction in the days and weeks ahead. The percentage of whale deposits relative to retail deposits into Coinbase addresses has increased, he noted. Bitcoin Could See Price Drop As Whale Deposit Ratio Spikes Bitcoin has undergone some shaky price action after a push to $19,000 […]