The Bitcoin market is experiencing significant movement as long-term holders eye a $90,000 price point for profit-taking opportunities. Recent analysis indicates that many Bitcoin investors, particularly those who have held
The post Why is Bitcoin Price Down Today? appeared first on Coinpedia Fintech News Bitcoin is currently down by more than two percent, trading slightly below the $90k mark. It is currently experiencing a period of sideways movement, which, while not exciting, could present opportunities for traders. Although Bitcoin’s price has been relatively stable lately, the bigger question on everyone’s mind is how much lower it might go in …
A crypto analyst reiterates that "some of these" Bitcoiners have been “here for many years,” and $90,000 is the “first target” for profit-taking.
Bullish SEC could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did. Bullish SEC (BULLSEC), a new Solana memecoin that was launched today, is set to explode over 11,000% in price in the coming days. This is because BULLSEC is set to soon be listed on numerous crypto exchanges, according to reports. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up. Currently, Bullish SEC can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to
The post Cameron Winklevoss Emphasizes The Importance Of DOGE Initiative, Says It Could Reduce Inflation appeared first on Coinpedia Fintech News US President-elect Donald Trump recently announced the creation of a new initiative known as the Department of Government Efficiency (DOGE) which will be led by Elon Musk and Vivek Ramaswamy. Its ultimate goal is to streamline federal operations and cut significant government spending by at least $2 trillion, a target that various budget experts have …
The recent surge of BONK has positioned it prominently as one of Solana’s top memecoins, showcasing impressive market dynamics and investor interest. In the last week alone, BONK has experienced
MicroStrategy Bitcoin holdings reached an estimated $26 billion, topping the cash reserves of industry giants like IBM, Nike, and Johnson & Johnson combined. Read original article on coincu.com
BONK broke records, solidifying its position as one of Solana's leading memecoins.
Bitcoin recorded another remarkable price performance in the past week, gaining by 19.16% according to data from CoinMarketCap. The crypto market leader established a new all-time high at $93,434 on Wednesday, as odds of achieving a six-figure market price by year’s end are now higher than before. Amidst the current market euphoria, CryptoQuant analyst Amr Taha has shared some market insights that may indicate an impending price fall. Related Reading: Analyst Says Bitcoin Has Entered The ‘Thrill’ Phase, Here’s What To Expect Next Bitcoin Enters Profit-Taking Zone – Sell Or HODL? In a Quicktake post on Friday, Amr Taha stated many investors may be preparing for a cash-out as the Bitcoin MVRV ratio reached 2.64. Generally, the Market Value to Realized Value is a trading indicator used to measure whether an asset is overvalued or undervalued or to identify market tops or bottoms. Amr Taha explains that a Bitcoin MVRV ratio above 2 indicates that investors currently hold significant amounts of unrealized gains and are likely to commence profit-taking. However, historical data from late 2021 and early 2022, shows that profit-taking occurs as the Bitcoin MVRV ratio moves into a range of 2.5-3.5, and is accompanied by significant corrections. Following the Bitcoin price surge over the past few weeks, an MVRV ratio of 2.64 presents substantial potential for a major price correction, despite the minor price drops in the past few days. This sentiment is further backed by the asset’s relative strength index (RSI), which remains in the overbought zone. However, Ama Taha further explains that Bitcoin may sometimes only form a major market top when the MVRV ratio reaches as high as 4. Therefore, at 2.64, the premier cryptocurrency may still sustain its current upward price trajectory, if bullish market momentum persists. The analyst advises that investors monitor the MVRV ratio as a rise towards 3 would signal the potential for further price gains while a decline to a range of 1.5-2 indicates a local market top is forming. Related Reading: Bitcoin Volume Crashes 27% As Price Falls, What Does This Say About The Decline? Short-Term Holders Realized Cap Hits $30 Billion In addition to Bitcoin’s alarming MVRV ratio, Taha also noted that short-term holders have now accumulated a realized market cap of over $30 billion, a level last observed in March 2024. The CryptoQuant analyst stated Bitcoin has historically undergone significant price corrections whenever the STH realized cap reached similar levels, signaling another warning for investors of a potential price dip. At the time of writing, Bitcoin is trading at $91,738 with a 3.97% gain in the past 24 hours. However, the asset’s trading volume is down by 7.42% and is valued at $80.73 billion. Featured image from Shutterstock, chart from Tradingview
Pepe Sees a 50% Surge after Coinbase Listing, but Could Propichain Reach a New High? Join the Presale for a 38,203% ROI Read original article on coincu.com