Bitcoin – Page 32 – BitcoTasks BLOG

$0 Flows: BlackRock Unshaken Despite Recent Bitcoin Market Crash, Data Shows

August 7, 2024

Bitcoin and the broader crypto market faced a notable price plunge on Monday, with the global crypto market cap losing $100 billion in valuation and total liquidations surpassing $1 billion. Interestingly, despite this so-called ‘Red Monday,’ Eric Balchunas, a Bloomberg Senior exchange-traded fund (ETF) analyst, revealed in a post uploaded earlier today that investors of…

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Solana (SOL) Bounces 30% Amid Market Recovery, Analysts Remain Bullish

August 7, 2024

Cryptocurrency Market News

Solana (SOL) is leading the crypto market recovery following the massive Monday crash. SOL registered some of the largest gains after reclaiming the $140 support zone on Tuesday morning. Its strength was highlighted by several market watchers, who shared their bullish predictions for the token. However, an analyst warned investors of a key level to…

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Analyst Predicts Bitcoin Could Plunge Back To $51,000 On Wedge Pattern Breakdown

August 7, 2024

Bitcoin News

Bitcoin may be experiencing a price recovery towards the $57,000 level after a sharp 20% drop on Monday that sent the largest cryptocurrency on the market to a low of $49,000 not seen since February. Still, BTC is not out of the woods yet, as a concerning pattern has emerged on its 10-day chart. Analysts…

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Is Bitcoin In A Bear Market Now? Here’s What On-Chain Data Suggests

August 7, 2024

Bitcoin News

Bitcoin has gone through a major crash recently, but has the asset yet breached the historical bear market boundary? Here’s what on-chain data says. Bitcoin Is Currently Under Realized Price Of New Whales In a new post on X, CryptoQuant founder and CEO Ki Young Ju has discussed what the Realized Price of different key…

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Is Bitcoin Really Safe? New Insights from ‘Black Swan’ Author on Recent Crash

August 7, 2024

Bitcoin News

Bitcoin has led a global crypto market downturn in the past few days, with the asset down to as low as $49,751 on August 5. This significant plunge from Bitcoin has been attributed by many to the downturn in the Japanese markets. The Trigger in Japan Speaking on the crash, Nassim Nicholas Taleb, a risk…

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Bitcoin Price Gains Strength: 100 SMA Crucial for Sustained Gains

August 7, 2024

Btc

Bitcoin price started a recovery wave above the $55,000 resistance. BTC must clear the 100 hourly SMA to continue higher in the near term. Bitcoin started a recovery wave above the $53,500 and $55,500 levels. The price is trading below $58,000 and the 100 hourly Simple moving average. There is a contracting triangle forming with…

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Bitwise CIO Believes The Crypto Crash Sets The Stage For Bitcoin To Thrive – Key Reasons Why

August 7, 2024

Bitcoin News

In the aftermath of a tumultuous week that saw Bitcoin (BTC) plummet to a seven-month low of $49,000 on Monday, global financial markets were rattled by a significant downturn, sparking concerns across stock exchanges and the crypto sphere. However, amid the chaos, Bitwise’s Chief Investment Officer Matt Hougan analyzed the drivers behind the recent market…

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Bitcoin Crash Over? Veteran Trader Predicts Rebound To $90,000

August 7, 2024

Bitcoin

The Bitcoin crash may be over, as a crypto trader has predicted a significant rebound for the pioneer cryptocurrency, foreseeing Bitcoin soaring to new all-time highs of $90,000. This bullish projection comes amid the recent downtrend in the price of Bitcoin, which saw a dramatic crash below $50,000 at some point over the past few…

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Bitcoin Sellers Running Out Of Coins As Dominance Hits 3-Year High

August 6, 2024

Bitcoin

Bitcoin’s dominance. Bitcoin Seller Exhaustion Is At Its Peak In an X (formerly Twitter) post, Rekt Capital mentioned that “the sell-side volume has reached and even dramatically eclipsed Seller Exhaustion levels seen at previous price reversals to the upside.” The analyst added that Bitcoin hasn’t seen this level of sell-side volume since the Halving event…

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Bitcoin Rebounds Past $56,000, Ethereum Over $2,500: Key Factors

August 6, 2024

Cryptocurrency Market News

Bitcoin and crypto markets experienced a robust recovery Tuesday, with Bitcoin surging past the $56,000 mark and Ethereum breaking above $2,500, bouncing back from the “Block Monday.” Yesterday, Bitcoin plummeted over 15%, touching lows near $49,000, while Ethereum dropped by more than 20% to a low of $2,115. The recovery in Bitcoin and crypto paralleled…

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Bitcoin MVRV Lowest Since FTX Crash, Signal To Buy?

August 6, 2024

Bitcoin News

On-chain data shows the Bitcoin Market Value to Realized Value (MVRV) ratio has observed a plunge alongside the latest price crash. Bitcoin 30-Day MVRV Ratio Is Now At Lowest Levels Since FTX Collapse As explained by analyst Ali Martinez in a new MVRV ratio” refers to a popular on-chain indicator that, in short, tells us…

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