Bitcoin Price Falls Below $90,000 — Is The Recovery Over?
The Bitcoin price has had a mixed performance over the past week, with both sides of the market divide struggling to establish dominance. In the latest battle between the bulls and bears, the premier cryptocurrency appears to be succumbing to pressure from the latter group. As this weekend approached, the Bitcoin price retreated from its latest local high of around $94,000 to beneath the psychological $90,000 level. This latest correction has prompted questions in the crowd, with investors wondering whether it is just a brief obstacle or the end of the recovery. Why $80,500 Could Be The....
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Bitcoin price had touched briefly above $25,000 in the past day, but the rejection at this point had sent the digital asset spiraling downward. It had inevitably ended in the high $23,000 before staging a recovery. However, by then, the damage had already been done to a lot of traders. Liquidations had ramped up as […]
Bitcoin Custodians Facing Liquidity Crisis As Price Falls
CPI inflation data exceeded market expectations, maintaining a near 40-year high of 8.3% as bitcoin falls below its $30,000 line of support.
We saw some interesting activity in the Bitcoin markets this week. During the first half of the week, we saw a run-up to $460, followed by a few days that made us think that $460 might be a new sticking point in the market. Those notions were dashed during the latter half of the week though, as the price starting falling on Christmas night, hitting a low of $407. A late-week recovery brought the price back up, though, and overall we saw a 2.63% decline over the entire week. Total Change: -2.63%
Shiba Inu’s price action in the past 24 hours has been characterized by a brief recovery after hitting a low of $0.00001237. This 24-hour price recovery is part of a 15% recovery after Shiba Inu reached a low of $0.00001102 on March 11, which is its lowest point in over a year. In spite of the modest increase in price, a slowdown in a key Shiba Inu metric might threaten this price recovery that’s just beginning. This threat is revealed in the Shiba Inu burn rate, which has taken a massive 99.44% nosedive in the past 24 hours. Related Reading: 200 Million XRP On The Move—Is....