Bitcoin Slips to $65K Amid Stronger Dollar, But Analyst Says the ‘Pullback Is Over’
Bitcoin could consolidate first before reclaiming the $69,000 level to reignite its uptrend, one trader noted.
Bitcoin could consolidate first before reclaiming the $69,000 level to reignite its uptrend, one trader noted.
Spot BTC ETFs witnessed record outflows on Tuesday, provisional veri from Farside show.
Large sell orders worth $55.49 million drove bitcoin’s price down to $8,900 on BitMEX. The overnight crash was short-lived.
Bitcoin ETF inflows on Monday and Tuesday will be the “real test” for what’s next for the largest crypto asset’s price, Markus Thielen wrote.
The bank also predicted that approval of an ether ETF could be expected on May 23, leading to as much as $45 billion of inflows in the first 12 months and ETH climbing to $8,000 by the end of 2024.
Over $100 million in bitcoin long positions have been wiped out as the world’s largest digital asset fell from $70K.
A pre-launch market may help create better price discovery, Drift co-founder Cindy Leow said.
“Normally rising wedges resolve bearish,” crypto analyst and trader Josh Olszewicz told CoinDesk.
Bitcoin nearly doubled in price since late January, but a “counter move seems to be near,” Swissblock analysts said.
The latest price moves in crypto markets in context for March 13, 2024.