Bitcoin's price appears to have found short-term support around $61,000, slightly above its February low of just under $60,000, according to economist Peter Schiff. Despite recent losses and significant selling pressure from large holders and U.S. spot ETF liquidations, Bitcoin has bounced over $2,000 off this support level. Schiff suggests the price could follow a bullish reversal pattern similar to post-2021 rallies, but warns that a breach below $60,000 could lead to further declines. The current price action is influenced by a stock market rally driven by AI, which has reduced institutional demand for Bitcoin despite its strong fundamentals.
More than half of all bitcoin in circulation is now held at an unrealized loss, with 10.5 million BTC underwater compared to 9.8 million BTC in profit. This crossover, which has historically marked major bear market bottoms, coincides with bitcoin te...
Bitcoin closed May near $70,600 after losing 8-10% due to rising inflation, higher Treasury yields, and geopolitical tensions. The cryptocurrency fell below key holder cost basis levels, increasing potential selling pressure, but found support betwee...
Bitcoin has dropped below $72,000, prompting analysts to focus on two main support zones: $50,000-$54,000 and $61,000-$62,000. One model based on MVRV Pricing Bands suggests Bitcoin could fall further toward the $50K range if current support fails, w...
Bitcoin's recent price drop to around $62,099 has sparked renewed concern over its quantum security, with Capriole Investments founder Charles Edwards highlighting a 28% 'quantum discount' due to slow developer progress on post-quantum upgrades. This...
Bitcoin's price recently dipped to around $61,300, touching a major bull market trendline, before rebounding to just under $64,000. This move follows a 15.8% drop after breaking below a bear flag trendline. Despite poor market sentiment, technical in...
