2024

Bitcoin

April

<p>The post <a href="https://coinpedia.org/news/can-bitcoin-whales-prevent-price-capitulation-below-crucial-support-level-at-59k/">Can Bitcoin Whales Prevent Price Capitulation Below Crucial Support Level at $59k?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The total cryptocurrency market cap fell&nbsp; 3.4 percent to about 3.4 percent as traders continued to take shelter in the <a href="https://coinpedia.org/news/us-senators-propose-bill-to-regulate-stablecoins-amidst-banning-on-algorithmic-stablecoins/">stablecoins</a> sector to avoid forced liquidation ahead of the fourth <a href="https://coinpedia.org/beginners-guide/what-is-bitcoin-halving/">Bitcoin halving</a>. Bitcoin’s (BTC) price has been forming a bearish flag on the lower time frame, thus signaling further capitulation ahead.&nbsp;</p> 
<p>Furthermore, JPMorgan analysts think <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin price</a> will likely weaken after the halving event following an indication of overbought conditions on open interest in BTC futures.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-bitcoin-whales-holds-steady">Bitcoin Whales Holds Steady</h2> 
<p><a href="https://markets.coinpedia.org/bitcoin/">Bitcoin</a> whales have accumulated more coins ahead of the weekend’s halving. With the difficulty of Bitcoin acquisition expected to increase over time, long-term holders are not letting go of their holdings.&nbsp;</p> 
<p>According to on-chain data from CryptoQuant, over 27,700 BTCs worth around $1.72 billion, have flown into accumulation addresses in the past few days.</p> 
<p>Also Check Out : <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin Price Prediction 2024-2030: Will BTC Price Cross The $100K Milestone Post-Halving?</a></p> 
<h2 class="wp-block-heading" id="h-analysts-take-on-midterm-bitcoin-price-action-nbsp">Analysts Take on Midterm Bitcoin Price Action&nbsp;</h2> 
<p>After reaching a new all-time high (ATH) of around $74k in March, Bitcoin price is almost obliterating all the gains made last month. According to market data provided by TradingView, BTC price has so far dropped 24 percent since the beginning of April to trade around $61,376 on Thursday during the mid-London session.</p> 
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   <p lang="en" dir="ltr">The bearish signs were on the wall for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> plus the monthly signals that we covered on YouTube. Next up, we turn our attention to the support levels if $59k is broken.<br><br>Will you be greedy or conservative with your downside targets? <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f914.png" alt="🤔" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/8d9kZLJQN6">pic.twitter.com/8d9kZLJQN6</a></p>— Jason Pizzino 
   <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f31e.png" alt="🌞" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@jasonpizzino) <a href="https://twitter.com/jasonpizzino/status/1780855555004957017?ref_src=twsrc%5Etfw">April 18, 2024</a>
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<p>According to a popular crypto analyst in Australia, Jason Pizzino, Bitcoin’s price must hold onto the support level of around $59k to avoid a bloodbath of $56.2k. Furthermore, the crypto bears could be rejuvenated, pushing the flagship coin towards the support range between $50k and $53k.</p>

Can Bitcoin Whales Prevent Price Capitulation Below Crucial Support Level at $59k?

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