$15 Billion Leaves Crypto Markets as Bitcoin Encounters Fresh Price Decline

Bitcoin Trading

Bitcoin News Today: $15 billion leave crypto markets as Bitcoin encounters fresh price decline. The rough circumstances have persisted while BTC has stayed range-bound, this could be its fifth trip into four-figure prices. The market instability has persisted all week as Bitcoin has wavered between $11k and the high $9k price ranges. Though in a recent Bitcoin price prediction, analysts are optimistic about a bearish price trend in the short term even though BTC has not stayed in four figures for long.

Bitcoin Price Analysis – Bitcoin Price Forecast – Bitcoin Price Analysis – BTC Faces Fluctuating Price Movement

In the past few days, BTC has been progressively surging above $10k. With a golden cross on the hourly time structure with the 50 and 200 moving medians signifies that the trend was consolidating. Though the contrasting cross on the four-hour chart triumphed and a downside change succeeded. From its previous low of $9,750, BTC improved to repossess the $10k level swiftly and has lingered there for a while now. From an intraday high of around $10,800, earlier today, Bitcoin declined to $10,100, and it seems it is settling at this price, the uneven strengthening has persisted and it is expected to prolong into the weekend.

Bitcoin (BTC) Price Today – BTC / USD

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The recent price movement has ripped almost 7 percent off the price and as it stands now, BTC is in the risk of dropping back into four figures. There is a possibility of a recurring decline to $9,750, as occurred last Thursday. Although several buyers were expectant at this level when it happened previously. Going by the BTC price analysis, there seems to be anxiety in the air, as several crypto traders quitted. The fear and greed pointer has flicked to ‘extreme fear’ once again, declining to 11 out of 100 on the level. This could indicate that markets are exaggerated and BTC may begin strengthening around the $10k level before its ensuing move.

Bitcoin Price Prediction – Further losses could be Incurred in BTC Trading Price

On the downside, the mid-$9,000s has offered firm support and beneath that, there is $9,150 which has been its lowest decline so far since the rally started. There have been different observations from traders on the weekly MACD, which seems quite bearish and could indicate additional losses. ChonisTrading stated, “$BTC – weekly MACD closing in on cross test in the coming weeks… The last time these indicators crossed the BEAR market was confirmed…”

John McAfee, Crypto expert, and web security kingpin stays unwavering, he agrees that the present stage of fear is completely needless. “Bitcoin jitters? Just stop it! Short term fluctuations are meaningless. Bitcoin is still up almost 300% from 6 months ago. Every time there’s a dip I have to calm people in replies, DMs, etc. GET A GRIP! You know in your heart Bitcoin cannot lose. Relax!” he stated. The $700 decline by Bitcoin has had the normal consequence of diminishing the altcoins, several altcoins are declining drastically. About $15 billion has exited the universe in the past 24hours, as crypto market capitalization decline back to $265 billion.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.


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