There are five key indicators that can help investors tell if Bitcoin is bearing a local top, and one of them is already flashing red.
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CryptoQuant CEO Ki Young Ju tips Bitcoin to finish the year at $58,974 but another analyst disagrees, saying a major pullback is unlikely.
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Bitcoin dominance has notched a new yearly high amid a brutal Ethereum-led sell-off.
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A sudden crypto market nosedive has seen over $600 million in leveraged long positions wiped out, as Bitcoin, Ether and otther cryptocurrencies tumbled sharply.
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Analysts say Bitcoin could sink as low as $50,000 but said strong macro and an entrenched “buy the dip” mentality could see price rebound quickly.
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According to 10x Research, Bitcoin’s potential drop below $50,000 is linked to dwindling buy flows and accelerating sell flows.
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The price of Bitcoin briefly dropped to $57,874 amid a wider sell-off in the crypto market, while $54.9 million in Bitcoin long positions have been liquidated in the last 24 hours.
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The price of Bitcoin suddenly dropped 6.5% to fall below $41,000 on Dec. 11, wiping out around five days of gains.
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Bitcoin’s price fell approximately 8% in a span of 10 minutes, leaving crypto investors scrambling to make sense of the drop.
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The price of Bitcoin plunged 4% as the Federal Reserve pressed pause on interest rates.
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