Cryptonews

Who is selling Bitcoin in 2024?

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Bitcoin trades in 2024

In this article we try to explain the reason why Bitcoin cannot surpass its all-time high in 2024.

The price of Bitcoin (BTC) fell today to $65,000 (USD), sharpening last week’s retreat, which exhibits greater supply. “Who the hell is selling?”, questioned the renowned analyst Willy Woo in this context.

Investors in Bitcoin exchange-traded funds (ETFs) in the United States ended the last week with outflows of $580 million. This comes after they recorded four consecutive weeks of capital inflows, as seen below.

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Bitcoin breaks correlation with the Nasdaq index

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Correlation between Bitcoin and Stocks

For the first time since July 2023, the correlation between both assets, Bitcoin and the Nasdaq 100 stock index, enters negative territory. Nasdaq 100 includes a hundred non-financial technology companies from the United States. Stock markets have fallen due to the turmoil of conflicts in the Middle East. Bitcoin (BTC) has lost correlation with major Wall Street stocks while remaining … Read more

Whales are accumulating bitcoin, what does this mean for the market?

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Binance spot trading volume soars on whale purchases of BTC. Despite the bitcoin (BTC) bear market, there are signs of significant buying by large whales, CryptoQuant CEO Ki Young Ju noted on Twitter. These BTC purchases could indicate that there are entities that are seeing an investment opportunity at current prices, below USD 20,000. Binance’s spot BTC trading volume rose … Read more

What are the factors that can sink bitcoin further or give it back its bullish momentum?

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What is double spending?

June ends with bitcoin’s worst monthly close since 2011, down 37%. If the control of inflation in the US works, the markets will resume the boom. Ending the first half of the year, the bearish outlook in the bitcoin market is accentuated. June is about to close with the biggest monthly losses since 2011, around 37%, while the price drop … Read more

Bitcoin price falls from 20,000 dollars and challenges its history in the market

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At the time of writing this article, bitcoin is trading above $19,100. So far this week, the drop exceeds 27%. What market analysts and investors feared has finally happened: the price of bitcoin broke the level of 20,000 dollars downwards this Saturday, June 18, which also implies the breaking of a historical pattern for the cryptocurrency in the market. During … Read more

Bitcoin price bottom may take months to materialize, says Glassnode

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The effective price is $23,340, according to Glassnode. Bitcoin touched the $20,000 band on Monday before returning to $22,000. Amid the collapse of the bitcoin (BTC) and cryptocurrency markets, it is not yet certain that the market has bottomed, Glassnode notes in its latest analysis. The current phase may last between 8 and 24 months before the market really bottoms … Read more

LUNA 2.0 has arrived: exchanges list the cryptocurrency, but it falls 70%

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LUNA2 was priced at almost $20 at launch and is now at $6. Several exchanges have listed the cryptocurrency, enabling withdrawals, deposits, and trading. Do Kwon, the co-founder, and CEO of Terraform Labs, the creator of the Terra (LUNA) cryptocurrency, announced this Saturday the launch of the new Terra 2.0 blockchain, with which they intend to revive the failed LUNA … Read more

Bitcoin fails to exceed the USD 30,000 band, what do the experts predict?

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Bitcoin has depreciated 1% every day for the last month, highlights Glassnode. Analysts agree that demand is likely to continue to decline due to current market fundamentals. Bitcoin (BTC) turns ten days today without exceeding the USD 30,000 band, at the same time that its minimum price has been rising, behavior that shows that, although there is demand, it is … Read more

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