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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoins-value-dips-below-40000/" data-wpel-link="internal">Bitcoin’s Value Dips Below $40,000</a><br></p>
<p style="text-align: justify">The leading cryptocurrency, <strong><a href="https://en.coin-turk.com/record-trading-volumes-for-bitcoin-futures-etfs/" data-wpel-link="internal">Bitcoin</a> (BTC)</strong>, has seen its value fall below $40,000. This marks a significant decline from its approximate $49,000 peak on January 11, 2024.</p> 
<h2 id="bitcoin-sees-a-160-increase">Bitcoin Sees a 160% Increase</h2> 
<p style="text-align: justify">While the $40,000 level is considered a critical psychological threshold for <strong>Bitcoin</strong>, experts believe that breaching this level does not necessarily trigger widespread selling. The next support level is anticipated to be around $38,000. An increasing VRP could indicate that the options market expects future volatility to be higher than historical data suggests, which may be seen as a sign of uncertainty or risk aversion among investors.</p> 
<p style="text-align: justify">Striking data could indicate that investors are increasingly concerned about potential downside risks. Short-term orders may stem from fear of further declines, prompting investors to take swift and protective measures. The <strong>crypto</strong> market is showing a general trend of weakness across all cryptocurrencies following a significant increase last year. However, Bitcoin’s value has risen by approximately 160% in 2023.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-306476 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/btc-4.webp" alt="" width="1515" height="711"></p> 
<h2 id="current-data-on-bitcoin">Current Data on Bitcoin</h2> 
<p style="text-align: justify">The uptrend was largely due to expectations that the US Securities and Exchange Commission (SEC) would approve the use of spot Bitcoin exchange-traded funds (ETFs). However, after the SEC’s approval, the markets began to retract some of these gains. Additionally, the tendency to sell in response to insufficient <a href="https://newslinker.co/" data-wpel-link="exclude">news</a> for profit-driven actions by speculative investors was influential.</p> 
<p style="text-align: justify">This situation shows that the <strong>crypto</strong> currency has fallen to this price point for the first time since the beginning of December. The Relative Strength Index (RSI) recorded a figure of 34.18, indicating a potentially undervalued condition in the market. Concurrently, the Chaikin Money Flow (CMF) was at -0.02, which could suggest a slightly negative market sentiment. Analysts looking at a longer time frame noted that despite the RSI being in a downtrend, it showed a more bullish outlook at 58.29. Also, the CMF remained at 0.16, indicating a moderate positive cash inflow to the market.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoins-value-dips-below-40000/" data-wpel-link="internal">Bitcoin’s Value Dips Below $40,000</a></h5>

Bitcoin’s Value Dips Below $40,000

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