bitcoin
Bitcoin (BTC) $ 67,579.11
ethereum
Ethereum (ETH) $ 3,441.99
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 590.29
xrp
XRP (XRP) $ 0.6097
cardano
Cardano (ADA) $ 0.42683
usd-coin
USDC (USDC) $ 0.999926
matic-network
Polygon (MATIC) $ 0.531911
binance-usd
BUSD (BUSD) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.138205
okb
OKB (OKB) $ 41.15
polkadot
Polkadot (DOT) $ 6.12
shiba-inu
Shiba Inu (SHIB) $ 0.000018
tron
TRON (TRX) $ 0.132868
uniswap
Uniswap (UNI) $ 7.83
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 67,569.10
dai
Dai (DAI) $ 0.999894
litecoin
Litecoin (LTC) $ 71.35
staked-ether
Lido Staked Ether (STETH) $ 3,441.85
solana
Solana (SOL) $ 178.57
avalanche-2
Avalanche (AVAX) $ 31.98
chainlink
Chainlink (LINK) $ 13.96
cosmos
Cosmos Hub (ATOM) $ 6.29
the-open-network
Toncoin (TON) $ 6.96
ethereum-classic
Ethereum Classic (ETC) $ 23.23
leo-token
LEO Token (LEO) $ 5.80
filecoin
Filecoin (FIL) $ 4.59
bitcoin-cash
Bitcoin Cash (BCH) $ 388.64
monero
Monero (XMR) $ 161.14
bitcoin
Bitcoin (BTC) $ 67,579.11
ethereum
Ethereum (ETH) $ 3,441.99
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 590.29
usd-coin
USDC (USDC) $ 0.999926
xrp
XRP (XRP) $ 0.6097
binance-usd
BUSD (BUSD) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.138205
cardano
Cardano (ADA) $ 0.42683
solana
Solana (SOL) $ 178.57
matic-network
Polygon (MATIC) $ 0.531911
polkadot
Polkadot (DOT) $ 6.12
tron
TRON (TRX) $ 0.132868

Bitcoin Price Could See ‘Extreme’ Crash After Range Breakdown, Fund Manager Warns

Must Read

The value of the flagship cryptocurrency Bitcoin has not too long ago dropped under its 200-day trendline after hitting a low above the $57,000 mark and shedding its key $60,000 assist degree, sparking considerations of a doubtlessly “excessive” value crash that may see it commerce close to $40,000.

Andrew Kang, co-founder of Mechanism Capital, highlighted parallels between the present value motion and the lead-up to the 2021 crash, pointing to the prolonged interval BTC has been inside its value vary, which exceeds the length seen earlier than the crash in 2021.

Furthermore, Kang famous there are over $50 billion price of cryptocurrency leveraged positions close to an all-time excessive, and added most market members “should not appreciating the importance of a possible lack of a 4-month vary on Bitcoin.”

Kang has revised his projections for a possible Bitcoin backside, suggesting a steeper decline than beforehand anticipated as he now sees the cryptocurrency fall to the $40,000 vary, a state of affairs that could possibly be “fairly damaging to the market and certain require a couple of months of chop/downtrend” earlier than an upward reversal.

Most market members should not appreciating the importance of a possible lack of a 4-month vary on Bitcoin

The closest parallel we will draw is to that of the vary of Might 2021 the place we additionally got here off a parabolic rally of BTC and alts

$50B+ of crypto leverage right here is… https://t.co/R3qAcCajAC pic.twitter.com/B4bpeoZwxo

— Andrew Kang (@Rewkang) July 3, 2024

Nevertheless, as CryptoGlobe reported, the top of analysis at cryptocurrency brokerage FalconX, David Lawant, has not too long ago urged Bitcoin may see a dramatic upward value swing based mostly on the present low cost on the Coinbase Bitcoin premium and its historic significance.

Lawant famous that the final time the Coinbase Bitcoin premium was as adverse because it at the moment was again in October 2023, when BTC was buying and selling at round $27,000 and earlier than the cryptocurrency entered a bull run to a brand new all-time excessive above $73,500.

In his submit Lawant pointed to the indicator’s historic significance and pointed to a possible rise after BTC since corrected from over $73,000 to round $60,000 on the time of writing.

Featured picture by way of Unsplash.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles

Studio 369 Expands MetalCore IP, Launches MetalCore Arena

What's MetalCore Enviornment?MetalCore Enviornment is an idle battler the place gamers kind and practice groups of mechanized items and...
- Advertisement -

More Articles Like This