Bitcoin has fallen below the $70,000 mark, placing it beneath the lowest valuation band on the Bitcoin Rainbow Chart, a model that tracks its long-term price trend using logarithmic regression. This suggests Bitcoin is currently undervalued relative to its historical growth, even below the "Bitcoin is dead" zone, which signals extreme market pessimism. While the chart is popular among long-term investors for gauging market sentiment, it is not designed for short-term price predictions. The model indicates Bitcoin remains a potentially attractive buy at current levels compared to its long-term trend, despite recent bearish sentiment.
Ethereum fell below its key $2,000 support level, reaching a low near $1,963, driven by Bitcoin's drop below $70,000 for the first time in nearly two months. The decline was triggered by MicroStrategy's $2.5 million Bitcoin sale and record outflows f...
Mt Gox, the defunct crypto exchange that lost over 850,000 Bitcoin to hackers, recently transferred 10,423 BTC worth about $739 million to a new wallet. This move, followed by another smaller transfer, signals preparations for the final distribution ...
Bitcoin price fell below $70,000 following over $3.4 billion in ETF outflows and a $739 million BTC transfer linked to Mt. Gox, stirring fears of increased market supply. The drop broke key support levels between $72,500 and $73,000, triggering $744 ...
Mt. Gox transferred about 10,306 BTC worth $739 million, its first major Bitcoin movement in over two months, raising speculation about possible creditor repayments. This transfer caused Bitcoin's price to drop 2.12% to around $79,569 as investors wo...
Bitcoin fell below $70,000 for the first time since April 7, dropping over 2% amid concerns triggered by Strategy's $2.5 million bitcoin sale, signaling potential further sell-offs. Ether also declined, while AI-related tokens like Humanity Protocol ...
