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Bitcoin (BTC) lost a four-month price range after breaking down from $60,000, trading as low as $53,540. Now, a prominent cryptocurrency analyst believes BTC can revisit its lows and maybe drop even further in a bearish context. CrypNuevo shared this analysis in his “Sunday Update” as a thread on X, pointing to key technical indicators. In the analyst’s words, “The next key level to the downside is exactly $51.7k.”  Essentially, the $51,700 price level matches with leverage liquidation pools formed after the wick down to $53,540. Moreover, it matches the 50-week exponential moving average, which is a solid price and trend indicator. Picks for you Monero surpasses Bitcoin in payment volume for the first time on platform 2 hours ago ...

Bitcoin’s (BTC) price has weakened again after failing to steady above the $65,000 zone, with the cryptocurrency continuing to be weighed down by rising geopolitical tensions in the Middle East. As Bitcoin remains bearish, the majority of the market is monitoring its direction, particularly given that the price movements are playing out in a monumental week characterized by the upcoming halving. In line with this, crypto analyst  Ali Martinez , in an X (formerly Twitter) post on April 16, pointed out that Bitcoin has established new support and resistance levels investors should watch . Picks for you 1inch Swap API now integrated by Magic Square, with Swap Competition on the way 36 mins ago Saakuru Labs raises $2.4 million as it prepares to expand with 40 projects in 2024 36 mins ago Supply shock alert: ‘9 months’ left of Bitcoin supply on exchanges 48 mins ago Japanese Yen (JPY) struggles at a 34-year low against the U.S. Dollar 1 hour ago ...

Bitcoin (BTC) price and search scores on Google Trends are fairly correlated metrics, as a growing market interest for the leading cryptocurrency can be reflected in both higher prices and more search es for ‘Bitcoin’ on Google. In the last two years, Bitcoin has traded in a downtrend, going from as high as $69,000 in November 2021 to as low as $15,400 per BTC in November 2022. Currently, Bitcoin is trading in a consolidation range from $24,700 to $31,800, since March 2023. Despite the year-over-year price recovery from this cycle’s lows and historical correlation within Bitcoin’s performance on Google Trends, the search score for the word ‘Bitcoin’ reached new lows on October 12, currently resembling 2020’s level s of interest. Particularly, data retrieved by Finbold from Google’s platform shows a score of 14 for this current week. It is important to say that the week is not finished yet, so the score can increase until October 14. Cryptocurrency Bitcoin may lead ...

According to a recently released report by CCData, total Stablecoin market cap fell by 0.45% in the past month. This means it’s fallen for 14 consecutive months and currently sits at $130 billion — its lowest level since September 2021. At the same time, stablecoin market dominance has risen to 11.1% in the overall crypto market, possibly a bearish sign for crypto. The decline in Stablecoin market cap coincides with an exit of liquidity from Crypto exchanges. Metrics by numerous sources, including the Block, confirm that May was the lowest month in terms of Crypto trading volume on exchanges since the beginning of 2022. This decline in overall liquidity is paired with a heavy decline in stablecoin trading volume, which according to CCData fell in May by 40.6% to $460 billion . This represents the lowest monthly trading volume by stablecoins on centralized exchanges since December 2022. Tether’s market cap has grown in tandem with bitcoin’s rise in price t...