Crypto Market Sheds $25 Billion With Bitcoin Losing 11%, What Triggered It?

Crypto Market Sheds $25 Billion With Bitcoin Losing 11%, What Triggered It?
фото показано с : zycrypto.com

2020-5-10 10:04

The market after a strong week has made a huge retracement. In the last 24 hours, the market has wiped out over $25 billion. For many cryptocurrencies, this has seen them wipe out their weekly gains. For Bitcoin, the asset has suffered a more than 10% drop.

Market Capitalization Via Coinmarketcap

At the time of writing this, Bitcoin is holding up in the mid 8K. This comes just days after reaching $10K, a position that continues to elude the digital asset.

The market drop was predictable. Popular analyst Josh Rager had earlier warned that whales could be in action soon. Predicting when Bitcoin would be able to reach over $10K, Rager warned that there would be a price crash triggered by whales.

This would allow them to accumulate before making a push for the $10K position. With no other development taking place in the last 24 hours, the flash crash in the last couple of hours certainly seems to be their hand at work. 

For everyone that bought #bitcoin for the first time this week thanks to the Paul Tudor Jones news, you have now been officially baptized into crypto's world of volatility.

Welcome. pic.twitter.com/QQGMmWMM33

— Joe McCann (@joemccann) May 10, 2020

With the Bitcoin halving just two days away, this will shake out a few investors. A few were already nervous after Bitcoin was unable to remain above $10K, failing to convince its in a strong bullish trend. The latest drop will require a lot of accumulation if Bitcoin is to be bullish through the halving.

Is The Halving Hype Dead?

The $10K position now looks impossible before the halving. Most investors were optimistic that this would be achieved and in turn confirm a strong bullish trend. But while this has been delayed, analysts are advising that the latest drop is in no way a sign of a changing trend.

The crypto community is optimistic that Bitcoin has found its bottom in the $8.5K position and will be making a strong comeback mainly through reaccumulation. 

Whales will be buying up at this position and soon we could see Bitcoin turn green and aim for the $10K highs. But unless Bitcoin goes into the halving green, we may see further bleeding post halving as speculators exit.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Market.space (MASP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 MASP

market out billion many hours wiped weekly

Источник: zycrypto.com

market out → Результатов: 126


Фото:

Bitcoin Price Analysis: Bullish Rejection Wipes Out Bitcoin’s Weekend Gains

Over the weekend, a strong rally was stifled by an even stronger rejection as the bitcoin market was shoved into a band of overhanging resistance. This band of resistance has been mentioned several times in our analyses over the last few weeks as it has proven impossible to overcome for the time being:Figure 1: BTC-USD, Daily Candles, Failed BreakoutThis run to the low $4,000s coincided with a breakout of a rather large symmetrical triangle consolidation shown above.

2019-2-26 02:42


2019 Dow Recovery ‘Nothing More Than a Bear Market Rally’

The Dow Jones Industrial Average and wider US stock market have made extraordinary recoveries in 2019, but several equities analysts warn that stocks remain firmly in a bear market. Stock Market Recoveries Following Sell-Offs Are Head Fakes A former adviser to the president of the Dallas Federal Reserve, Danielle DiMartino Booth, wrote in a Bloomberg op-ed that the Dow’s push past 26,000 from its late December low is just a “head fake.

2019-2-26 01:17


Newsflash: Sunday Crypto Bloodbath Sees $11 Billion Wipeout Within Minutes

On February 24, following an impressive short-term rally from February 21 to 23, the valuation of the crypto market plunged by $11 billion from $141 billion to $130 billion. Several analysts have suggested that the inability of Bitcoin to break out of the $4,200 mark, a crucial resistance level for the dominant cryptocurrency, led most crypto assets to retrace.

2019-2-24 18:25


Breaking: $15 Billion Wiped Out Of The Crypto Market In Less than 1 Hour

The Crypto Markets have been taking a bullish path but things seem to have changed in the last hour, the Market cap has dropped in a flash crash from $146 Billion to $129 Billion at Press Time. The Bitcoin price has seen a sharp decline from $4,200 to the current price of $3,850, the bears […] The post Breaking: $15 Billion Wiped Out Of The Crypto Market In Less than 1 Hour appeared first on ZyCrypto.

2019-2-24 18:20


After Predicting a $1 Million Price Point for Bitcoin, John McAfee Settles on a “Hard Date”

The bear market has taken over the crypto industry for a while now, but the recent upswing of Bitcoin has urged proponents to come out of the woodwork with predictions. While there’s been bets and possible milestones believed that Bitcoin will be on the way to reach, US Presidential Candidate and former supporter of ICOs, […]

2019-2-23 02:50


Фото:

Bitcoin Price Analysis: Bullish Setups Could Break Current Market Structure

The cryptomarket remains coiled as we lead into the weekend with no new highs and no new lows being established for bitcoin. However, it is nicely consolidating on lower time frames and hints toward the possibility of another leg up:Figure 1: BTC-USD, Hourly Candles, Consolidating PennantThe pattern shown in Figure 1 outlines a potential continuation pattern called a “bullish pennant.

2019-2-23 02:23


Фото:

Bitcoin Price Analysis: Consolidation Breaks Out Into Macro Resistance Test

Over the course of the last 10 days, bitcoin has managed to rally nearly 20% in value as it burst through two major resistance levels and is now beginning the test of a major macro level:Figure 1: BTC-USD, Daily Candles, Macro ResistanceWe can see a clear, descending supply-and-demand channel that governed the market for the last two months.

2019-2-20 01:38


Where To Find The Most Profitable Cryptocurrency Coins To Mine During Bear Market Season?

A Miners Frosty Winter – How To Survive The Bearish Market As A Crypto Miner If the cryptocurrency marketplace hasn't been a merry and optimistic one for the average cryptocurrency investor, spare some thought for what the outlook is for the average crypto miner out there, especially for mining companies that deal with this on […]

2019-2-19 00:41


Newsflash: Amazon Leads Massive $700 Million Funding Round in Tesla Competitor Rivian

Elon Musk and Tesla had better watch out because tech conglomerate Amazon just led a massive $700 million funding round in electric vehicle competitor Rivian. Amazon Leads Major Funding Round in EV Startup Rivian The Michigan-based Rivian has sought to carve out a segment of the burgeoning electric vehicle market by focusing its efforts on building pickup trucks and SUVs.

2019-2-15 17:36


Фото:

Bitcoin Price Analysis: After Sudden Upswing, Bitcoin Price Drifts Downward

Last week, we saw a violent move to the upside as bitcoin rallied 11% over the course of one day. Since peaking in the upper $3,600s, bitcoin has seen close to zero bullish follow-through, and the price has begun to drift downward over the course of the last week:Figure 1: BTC-USD, Hourly Candles, Downward DriftDownward-drifting markets like this can often be a sign that distribution is taking place.

2019-2-15 00:21


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Has Solid On-Chain Cushion Below $68,900: Stage Set For Fresh Rally?

On-chain data shows Bitcoin could have significant support between $66,900 and $68,900, which may help provide solid ground for a fresh surge to higher levels. A Large Amount Of Investors Bought Their Bitcoin Between $66,900 & $68,900 According to data from the market intelligence platform IntoTheBlock, BTC is currently floating above a major demand zone.

Bitcoin Volume Plummets To Historical Lows: Market Boredom Setting In?

Data shows that Bitcoin trading volume has plummeted to extreme lows recently, a sign that investor interest in trading the asset is low. Bitcoin Trading Volume Plunges As Price Continues To Move Sideways According to data shared by CryptoQuant author IT Tech in an X post, the BTC trading volume has been quite low recently. […]

Is This The Biggest Bitcoin Bull Run Ever? Analyst Says Yes!

Crypto analyst TechDev (@TechDev_52) recently shared a detailed chart analysis suggesting that Bitcoin might be on the cusp of its most significant breakout to date. This analysis, backed by historical patterns and technical indicators, points to a potential shift in the market that could lead to unprecedented price levels for Bitcoin.

Bitcoin ‘Realized Volatility’ Showing Very Rare Trend: What Could Be Next

Data shows that the Bitcoin Realized Volatility metric has fallen to historically low levels. What generally happens after this pattern forms? Bitcoin Realized Volatility Has Decline To Extreme Lows Recently In a post on X, CryptoQuant author Axel Adler Jr has discussed about the latest trend taking place in the Realized Volatility of Bitcoin.

How High Can Bitcoin Go Before A Top? Analyst Chimes In

An analyst has explained how the Bitcoin rally could still have room to run before hitting a top based on the data of this indicator. Bitcoin Macro Oscillator Isn’t At Historical Top Zone Yet In a new post on X, analyst Willy Woo has discussed the recent trend developing in the Bitcoin Macro Oscillator (BMO).

Halving Woes Already Over? Bitcoin Hashrate Smashes All-Time High

On-chain data shows the Bitcoin mining hashrate has sharply rebounded from its post-Halving lows and has achieved a new all-time high (ATH). 7-Day Average Bitcoin Mining Hashrate Has Just Set A New ATH The Bitcoin network runs on a consensus mechanism known as the “proof-of-work” (PoW).

Bollinger Bands Inventor Foresees Bitcoin Pullback: Key Levels To Watch

Renowned financial analyst John Bollinger has recently issued a caution regarding the potential for a Bitcoin pullback. After BTC price surged from below $66,000 to almost $72,000 at the beginning of the week, Bollinger, the creator of the widely utilized Bollinger Bands indicator, pointed to specific features in the Bitcoin price chart that suggest a consolidation or pullback could be imminent, though he clarified that his perspective was not bearish on a longer term.