In this video, I break down the current Bitcoin price action and assess whether the ongoing pullback is nearing its local bottom. We analyze the critical support levels that are holding the market and evaluate the structural probability of a potential wave C upside move toward the 69K to 72K target zone. Video by More Crypto Online.
Visit Trading Platform >>
Bitcoin (BTC) dropped roughly 3% today, hitting a 3-week low around $62,700, down from its morning opening price of $64,724.03. The cryptocurrency decoupled from climbing traditional equity markets as panic over corporate liquidations and macroeconomic strains triggered intense selling pressure.
New to trading? Join iqoption for free educational materials, a risk-free demo account, and a low minimum deposit($20). Start your journey in the financial markets now!
Learn more >>
Bitcoin Insights Today
-Strategy Plans $5 Billion Sale: Speculation and announcements regarding a massive $5 billion reserve shift or sale weighed heavily on market sentiment, pushing BTC to a three-week low.
-Macro Divergence: Cryptocurrencies backed off despite a temporary pause in U.S. airstrikes in Iran and steady interest rates from the Federal Reserve, decoupling from a broader rally in Asian and U.S. equities.
-Capitulation Metrics: On-chain data tracked by CryptoQuant indicates that annual realized losses have hit 136,000 BTC, though analysts note this remains mild compared to historical market bottoms of past cycles.
-Bearish August Positioning: Derivatives traders are heavily buying downside protection, making $60,000 put options a popular hedge as the market braces for potential further pullbacks.
Buy, sell, and store over 400 digital assets at one of Europe’s leading exchanges. Crypto trading and staking made simple!
Learn more >>
