The price of Bitcoin (BTC) has continued its downtrend, dropping to new local lows of under $59,000. During the mid-hours of the United States Monday trading session, BTC briefly fell below $60,000 to hit a new local low of $58,500. This downward trend has been sustained as outflows from the U.S. spot Bitcoin exchange-traded fund
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The once-thriving crypto market is currently experiencing a significant downturn, with Bitcoin at the forefront of the retreat. Following its meteoric rise to over $73,000 earlier this year, Bitcoin has lost its momentum and is now plunging to new lows. This downward trend has sparked a wave of panic among investors, triggering a mass exodus
Anthony Scaramucci, the founder of SkyBridge Capital, has made some bold predictions regarding Bitcoin’s price if Joe Biden wins the upcoming US presidential election. During an interview on Unchained, Scaramucci claimed that Bitcoin could potentially reach new all-time highs under a second Biden administration. He anticipates that Bitcoin’s price could soar to anywhere between $170,000
Coinbase, a prominent player in the cryptocurrency market, is facing potential regulatory challenges over its compliance with new Financial Accounting Standards Board (FASB) rules. These rules, which were approved in 2023 and are set to take effect in 2025, shift the accounting and disclosure for crypto assets to a fair-value model from a cost-less-impairment model.
Bitcoin has experienced a significant price drop in recent days, falling from the $70K level and approaching a critical support level. The downward trend has been evident on the daily timeframe since the beginning of June, following a rejection from the $72K zone. As the price nears the pivotal $60K support level, there is speculation
A crypto analyst recently highlighted the possibility of Bitcoin facing further declines, potentially dropping to $52,000 lows. The analyst pointed out that Bitcoin has broken key support levels, indicating a shift from a bullish to a bearish position. This prediction was based on a post made on X (formerly Twitter) by crypto analyst Justin Bennett,
The ongoing case involving Ripple is a significant topic within the cryptocurrency industry, with potential implications for the price of XRP. Analysts are actively studying technical patterns to forecast potential price points, regardless of the outcome of the SEC lawsuit. One prominent analyst, EGRAG CRYPTO, recently identified a bullish candle formation called the quarterly hammer.
The cryptocurrency industry experienced a significant milestone in May, with a total of $1 billion in investments reported. Ethereum emerged as the dominant player in these investments, showcasing its strong market presence. Despite facing money laundering accusations, Binance executives had tax evasion charges dropped by Nigerian authorities. This development sheds light on the complex legal
Bitcoin has seen a notable decline in the price, dropping below the $64,000 mark to reach $63,564. This downward trend has resulted in a 2.5% decrease in the last 24 hours and an overall 12% decline over the past two weeks. Despite this, Arthur Hayes, the co-founder of BitMEX, remains bullish on Bitcoin, advocating for
In the realm of cryptocurrency, Bitcoin has long been viewed as a key player influencing market trends. Its movements often serve as a primary indicator for other digital assets, setting the tone for the overall market sentiment. However, recent data suggests a shift in this traditional narrative, particularly in the behavior of long-term holders of