Bitcoin

Impact

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin’s price continues to fluctuate around $70,000, with no clear catalyst influencing its movement.</li>
 <li>The upcoming Bitcoin halving event could potentially impact Bitcoin’s price volatility.</li>
</ul>
<p>Bitcoin, the world’s largest cryptocurrency, has been trading below $70,000 for the past few days. The price experienced a slight dip of about 0.7% over the past 24 hours, resulting in a trading price of $69,700.</p>
<h2 id="market-observations">Market Observations</h2>
<p>According to Justin d’Anethan, head of APAC business development of crypto market maker Keyrock, the prices are currently moving sideways. The range between $69,000 and $71,000 over the past few days indicates that investors are hesitant to breach all-time highs. However, any selling is met with healthy demand.</p>
<p>Lucy Hu, a senior analyst of Metalpha, suggested that the minor fluctuation in price seems to be part of a normal adjustment. She noted that there doesn’t appear to be a clear trigger for this minor fluctuation.</p>
<h2 id="bitcoin-halving-and-its-possible-impact">Bitcoin Halving and Its Possible Impact</h2>
<p>The upcoming <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> halving, expected to occur later this month, might influence the cryptocurrency’s price movements. D’Anethan mentioned that historically, halvings have been a bearish event in the few days following but then turned to mark the beginning of long enduring bull runs.</p>
<p>However, predicting the exact impact is challenging. D’Anethan noted that the anticipation and realization of the Bitcoin spot ETFs on American stock exchanges had opened the gates for a flurry of previously inactive investors, which could influence the price.</p>
<p>Hu added that based on past records, the market might experience significant volatility approaching the halving, with a strong price adjustment during and after the halving event.</p>

Bitcoin Struggles Below $70,000 Amid Ongoing Price Stagnation

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