As Bitcoin approaches a pivotal support level, analysts are cautioning that this week is crucial for the leading cryptocurrency, potentially determining the fate of its recovery rally. On Tuesday, Bitcoin fell beneath the $76,000 support level for the first time in a week, hitting $75,666 before making a recovery. The leading cryptocurrency has been fluctuating … Read more
Bitcoin’s price has continued its multi-week corrective phase, dipping below significant psychological and technical levels as traders evaluate both emerging economic challenges and internal market factors. The bitcoin price experienced a downward trend over the weekend and into Monday, highlighting a market atmosphere that is becoming increasingly cautious. Bitcoin price first breached the $65,000 support … Read more
According to Geoff Kendrick, Bitcoin faces the potential for deeper losses as risk appetite diminishes and macroeconomic pressures intensify. In a note, Kendrick indicated that diminishing U.S. economic momentum and lowered expectations for Federal Reserve rate cuts have impacted crypto markets. He noted that declining digital-asset ETF holdings have eliminated a crucial source of demand. … Read more