ETF Bitcoin Holdings Has Barely Moved Despite Major Price Decline
After multiple retests, the Bitcoin price has finally lost the pivotal $80,000 level once again as the broader market turned bearish. However, many investors are still demonstrating confidence in BTC despite its bearish performance as seen via the exchange-traded products. Bitcoin Price Slides, But ETF Investors Refuse To Sell As Wednesday approached its end, Bitcoin’s […]
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The Bitcoin price is in a decline once more, after seeing some recovery on Wednesday due to the turnaround in the Spot Bitcoin ETFs net flows. However, just one day later, it seems the pioneer cryptocurrency has resumed the downtrend and this decline after the recovery has begun a worrying trend. So, what are the factors that are driving this decline? Bitcoin Price Suffers From Sell-Offs One of the major factors that have been behind the Bitcoin decline is the major sell-offs that have rocked the digital asset. These sell-offs are not just from any investor, but rather large BTC sells....
Here's a look at what we are focusing on in the bitcoin price this evening. We’re big advocates of bitcoin (I guess that goes without saying) and so when price moves as part of a steep decline, it hurts a little. We’ve all got holdings, and these holdings take a hit when the bitcoin price dips. That said, when you trade intraday as we do, a decline is neither positive nor negative, it’s just volatility. We like volatility, and we can take advantage of it if we set up right. In this instance, we set up right, and despite price collapsing from the high 700s to where it currently sits....
Key Highlights. Rubycoin's price dived down sharply after failing to break a major resistance area near 0.000511 BTC. After breaking a critical support trend line on the 4-hour chart (price feed from Bitfinex), there was a monstrous decline. After recovering a few points higher, the price declined and moved below the 0.00030 BTC support area. Rubycoin's price moved further down. There was an attempt by buyers to take the price higher, but it failed to sustain momentum. 0.0002 BTC as a Support Area. Rubycoin's price slide continued, and there was another leg down taking the price below a....
Ethereum price formed a weekly low below $7.00 against the US dollar. The ETH/USD pair is currently recovering, but facing resistance near $7.20. Key Highlights. ETH price after declining towards the $6.83 level against US Dollar stated correcting higher. There is a major resistance area near a bearish trend line on the hourly chart (data feed via SimpleFX) of ETH/USD at $7.20. As long as the pair is below the highlighted resistance area, it won’t be easy for the bulls to take the price higher. Ethereum Price Upside Barrier. There were further declines in ETH price, as it moved down below....
Ethereum extended decline below the $2,800 support against the US Dollar. ETH price is correcting losses, but upsides might be limited above $2,800. Ethereum started a major decline below the $2,880 support level. The price is now trading below $2,800 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $2,650 on the hourly chart of ETH/USD (data feed via Kraken). The pair could recover, but the bears might remain active near $2,800 and $2,880. Ethereum Price Extends Decline Ethereum failed to stay above the $2,880 support zone....