Bitcoin exchange reserves have dropped to 2.66 million BTC, levels last seen in August 2019, signaling reduced supply on trading platforms. However, short-term price indicators like MACD and RSI remain bearish, and long-term holder profitability is weak with SOPR near 0.87, indicating some holders are selling at a loss. The market differs from 2019 due to the presence of spot Bitcoin ETFs since January 2024, which create new demand channels but have not yet offset cautious market sentiment. Bitcoin trades near $73,000 with a cautious outlook as traders watch for stronger volume and support levels around $70,000 and $68,000 to confirm recovery.
Bitcoin is currently near a critical support level at $72,000, with analysts divided on whether it will hold or break down further. One analyst highlights key accumulation zones at $60,000, $45,000, and $35,000 as potential buy areas before any long-...
XRP dropped sharply to $1.2723, its lowest since February, following US military strikes on Iranian targets near the Strait of Hormuz. This geopolitical event caused nearly $1 billion in forced liquidations across the crypto market, with XRP losing 3...
Bitcoin has been declared "dead" 472 times since 2011 across various market cycles, yet it has grown over 70 million percent in value. Despite recent weak sentiment and price corrections, Bitcoin remains resilient. Currently, traders are showing incr...
Ethereum dropped below $2,000 following US airstrikes on Iran, causing a $1 billion forced liquidation in crypto markets and a sharp price decline. Market sentiment turned bearish with a 63% chance ETH could fall to $1,500, while ETFs saw $500 millio...
On May 28, major cryptocurrencies Bitcoin (BTC) and USD Coin (USDC) experienced significant net outflows of approximately $200 million and $184 million respectively, signaling a risk-off sentiment in the crypto market. Ethereum (ETH) also saw a net o...
