Tag: Reasons

Is the Bitcoin (BTC) Price Rally Over? Reasons to Stay Bullish Despite Crypto Correction

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CryptoQuant shares reasons behind Bitcoin’s $70k recovery

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The CryptoQuant platform author shared their opinion on the return of the Bitcoin price above $70,000 after several weeks of correction. According to the expert, the price of Bitcoin (BTC) recovered after several weeks for several reasons. First, the crypto market saw a significant portion of investors’ profits for $2.7 billion, while selling pressure weakened as holders of short-term bonds ceased to realize the losses from the price correction. Another reason for recovering the first cryptocurrency is the release of several billion stablecoins USDT last week. “New USDT has been…

Bitcoin Price Tumbles Below $66,000: 4 Major Reasons

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The Bitcoin market has witnessed a significant downturn, with prices plummeting below the $66,000 mark. This abrupt -5.6% price movement can be attributed to four major factors: a long liquidation event, a rising US Dollar Index (DXY), profit-taking by investors, and spot Bitcoin ETF outflows. #1 Long Liquidations The main force leading to today’s downturn in Bitcoin’s price was a significant deleveraging event characterized by an unusually high level of long liquidations. Before the downturn, Bitcoin’s Open Interest (OI) Weighted Funding Rate was unusually high, indicating that leveraged traders were…

Bitcoin Price Surges Past $71,000: 4 Key Reasons

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The Bitcoin price has soared past the $71,000 mark. In the past 24 hours alone, the price of Bitcoin surged by 6.5%, climbing from just below $65,500 to reach $71,491. This remarkable rally can be attributed to a combination of factors that have collectively contributed to the upward trajectory of the world’s leading cryptocurrency. Here’s a closer look at the four key reasons behind Bitcoin’s latest price surge. #1 Futures Market Influence The futures market has played a pivotal role in driving Bitcoin’s price upwards. According to data from Coinglass,…

Why Is Bitcoin Price Up Today? Key Reasons Explained

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Within the last 24 hours, the market witnessed a significant rally in the Bitcoin price, which soared by 10% from a daily low of $60,805 to a peak of $68,250. This remarkable price movement can be attributed to several key factors, including yesterday’s Federal Open Market Committee (FOMC) meeting, a notable change in the Coinbase Premium, and Bitcoin’s technical breakout from a downtrend channel. #1 FOMC Meeting: Dovish Remarks By Jerome Powell Fuel Optimism As reported yesterday, the macro environment came back into focus for Bitcoin and crypto following the…

Top Reasons Why The Bitcoin Price Crashed Below $63,000

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The flagship cryptocurrency, Bitcoin, dropped below the $63,000 mark in the last 24 hours and is currently on a price correction, having recently hit a new all-time high (ATH) of $73,750. This price dip is believed to be due to several factors, including the Bitcoin Halving, which is fast approaching.  Bitcoin Price Is In The Second Phase Of The Halving Trend Crypto trader and analyst Rekt Capital recently provided insights into the four phases of Bitcoin Halving, which provides a plausible explanation for Bitcoin’s recent decline. He suggested that Bitcoin…

Why Is Bitcoin Price Down Today? 3 Key Reasons

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Today’s Bitcoin price movement is a confluence of factors including massive liquidations, macroeconomic pressures, and the impact of negative Coinbase Premium alongside Bitcoin ETF dynamics. These elements combined have led to a noticeable dip in Bitcoin’s price. #1 Long Liquidations Today’s Bitcoin market saw a significant price drop, initiated by a sweeping liquidation event on the futures market. Over the last 24 hours, crypto trader liquidations exceeded $682.54 million across more than 191,000 traders, according to Coinglass data. This surge in liquidations resulted in Bitcoin’s price plummeting by 8% in…

Samson Mow Gives Reasons Why Bitcoin Price Could Reach $1 Million This Year

The CEO of Jan3 and Bitcoiner, Samson Mow, is still standing by his prediction that Bitcoin could hit $1 million sooner rather than later. During a recent interview, he explained why he is sticking to his ambitious price prediction.  Why Bitcoin Would Hit $1 Million This Year Mow mentioned during an interview with ‘What Bitcoin Did’ Host Peter McCormack that BTC will hit $1 million this year, if not this year, in 2025. He further explained that BTC’s current setup is well structured for this parabolic run. For one, he…

3 Reasons Ethereum Price Could outperform Bitcoin in 2024

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Ethereum price broke above $3,9500 barrier again on Feb. 22, while Bitcoin price rally struggles for momentum: 3 vital market metrics suggest ETH could further extend its lead over BTC in the weeks ahead.  Ethereum (ETH) and Bitcoin (BTC) are historically closely correlated, but in 2024, ETH seems to have gained the upper hand. A deep dive into the on-chain data trends and expert analysis provides key insights into which asset would come out on top as the year unfolds.  Is Ethereum better than Bitcoin in 2024?  So far in…

Shiba Inu (SHIB) Price Skyrockets By 28%: 4 Key Reasons

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The price of Shiba Inu (SHIB) has surged by 28% in the last 24 hours and 45% in the last seven days. Today’s surge can be attributed to a confluence of factors, including a rekindling meme coin frenzy, actions by crypto whales, a favorable chart setup, and significant partnerships and ecosystem expansions. Here’s an in-depth look at these pivotal elements fueling SHIB’s impressive rally. #1 Meme Coin Frenzy In the wake of yesterday’s significant Bitcoin surge, there’s seemingly a noticeable resurgence of interest in higher-risk investments within the crypto sphere.…