Bloomberg Intelligence warns of a possible 86% crash in Bitcoin, predicting a drop to around $10,000 due to a breakdown in its historical correlation with the S&P 500. Bitcoin's recent decoupling from the stock market and the collapse of the Bloomberg Galaxy Crypto Index below 2,000 points signal a major sell-off. The analyst compares this to the 2018 crash but notes that today's market includes strong institutional support from ETFs, which might prevent such a steep decline. Bitcoin must reclaim and hold above $75,000 to invalidate this bearish outlook.
Cryptocurrency markets saw a general decline with Bitcoin trading near $72,364, down about 1.94%, and Ethereum around $1,980, down 1.90%. Other major coins like Binance Coin and XRP also fell, signaling cautious investor sentiment. Stablecoins remain...
Bitcoin is retesting a crucial support zone near $73,500 after falling from the low $80,000s. This area has historically acted as both resistance and support, making it a critical level for Bitcoin's price direction. Selling volume remains low, keepi...
Crypto markets opened June with declines as US-Iran tensions weighed on sentiment, pushing bitcoin and ether down about 1%. Despite $2.97 billion outflows from spot bitcoin ETFs, derivatives data suggest stable institutional risk appetite. Stellar's ...
Bitcoin's price is currently testing critical support levels as a small bear flag pattern breaks down, threatening a significant decline. The price is near the bottom of a 4-month bear flag and may soon fall below the 100-day moving average, with a p...
Bitcoin has entered a bearish channel after slipping below key support near $72,000 amid over $2.4 billion in spot ETF outflows, rising oil prices above $90, and renewed US-Iran military tensions. These factors have increased market uncertainty and s...
