Bitcoin could drop towards the $25k level as bearish sentiment thickens

Bitcoin could drop towards the $25k level as bearish sentiment thickens
фото показано с : coinjournal.net

2022-5-12 14:52

The broader cryptocurrency market has been underperforming in recent weeks.

The crypto market has been in a bearish trend for the past few days. Since the start of the week, the market has lost more than $400 billion.

So far today, the crypto market has lost more than 16% of its value, and the total market cap now stands above $1.1 trillion. The cryptocurrency market has lost more than 50% of its value since reaching an all-time of $3 trillion in November 2021.

Bitcoin remains the number one cryptocurrency by market cap. With a market cap of more than $500 billion, Bitcoin has lost more than 50% of its value over the past six months.

At press time, Bitcoin is trading at $28,415 per coin, down by more than 11% in the last 24 hours. Bitcoin has lost over 50% of its value since reaching an all-time high of $69k in November 2021.

Key levels to watch

The BTC/USD 4-hour chart is bearish as Bitcoin has been underperforming in recent weeks. The technical indicators show that Bitcoin is currently in a bearish trend.

The MACD line is below the neutral zone, indicating bearish momentum. The 14-day relative strength index of 26 shows that Bitcoin is currently oversold.

If the bearish momentum continues, Bitcoin could slip below the first major support level at $26,762 before the end of the day. In the event of an extended bearish period, Bitcoin will trade below the $25k level for the first time in nearly a year.

However, if the bulls regain control of the market, Bitcoin could retest the $30k resistance level again soon. The resistance level at $33k should cap further upward movement in the short term. 

The post Bitcoin could drop towards the $25k level as bearish sentiment thickens appeared first on Coin Journal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Level Up Coin (LUC) на Currencies.ru

$ 0 (+0.68%)
Объем 24H $0
Изменеия 24h: 1.94 %, 7d: 12.29 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 7.53E-5 (-100%)

sentiment bearish thickens bitcoin market level could

Источник: coinjournal.net

sentiment bearish → Результатов: 126


Majority of Bitcoin holders are still in profit, $6,649 could be BTC’s key support level

Despite Bitcoin’s recent bearish condition and low market sentiment, the majority of Bitcoin holders are still in profit, according to data from the crypto analytics platform IntotheBlock. Just over 59 percent of addresses hold Bitcoin bought with an average purchase price below $7,470, putting them “in the money” on unrealized gains even after the cryptocurrency’s […] The post Majority of Bitcoin holders are still in profit, $6,649 could be BTC’s key support level appeared first on CryptoSlate.

2019-10-25 12:30


Crypto Analyst: Bitcoin Indicator Resembles Mid-2016 Bullish Beginnings

Much of the crypto market may have flipped sentiment to being bearish on Bitcoin after yesterday’s dump that bled out over $20 billion from the total crypto market cap. However, according to one of the most respected crypto analysts in the space, an important trend indicator suggests that the current price action very closely resembles.

2019-8-30 01:00


GXChain Price Analysis GXC / USD: Yet Another Buy-Back

GXChain has a bearish short-term bias with the cryptocurrency trading below its 200-period moving average on the four-hour time frame The four-hour time frame is showing that a bullish inverted head and shoulders pattern is forming A bearish double-top pattern continues to weigh on medium-term sentiment Fundamental Analysis GXC spiked after the project announced the […] The post GXChain Price Analysis GXC / USD: Yet Another Buy-Back appeared first on Crypto Briefing.

2019-7-26 16:09


Bitcoin’s recent surge speculated to be strongly correlated to global negative yielding debt

Bitcoin’s momentous boom has been the focal point of discussion for a lot of investors in the world of cryptocurrencies, with the market sentiment shifting drastically from bearish to bullish. The coin’s price was not the only parameter under the scanner as various factors like growth rate and market correlations have also been discussed.

2019-6-27 18:00


Фото:

Statistics Show Bitcoin Cash Is a Strong Contender After Crypto Winter

Over the last few weeks, bitcoin cash (BCH) and the network itself have been shining brightly after a year of bearish sentiment and the blockchain split last November. Most notably, this month BCH has shown a significant increase in daily transactions, the price has doubled, and today the network has produced the second highest value […] The post Statistics Show Bitcoin Cash Is a Strong Contender After Crypto Winter appeared first on Bitcoin News.

2019-4-19 23:45


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Сальвадор: ещё +11 Bitcoin в кассу

Сальвадор купил ещё 11 биткоинов за $1 млн. Теперь в национальном резерве страны уже 5,980 монет. И это несмотря на договорённость с МВФ, где Сальвадор пообещал “притормозить” с криптой.

Crypto hacking losses hit $2.2 billion in 2024, a new report says

The cryptocurrency world, while experiencing a surge in mainstream adoption and market value, is also grappling with a stark reality: a significant increase in losses due to hacking. A new report from blockchain analysis firm Chainalysis reveals that funds stolen from crypto platforms jumped to a staggering $2.2 billion in 2024, a 21% increase from […]