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The Bitcoin price dropped 4% in the last 24 hours <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">to trade at $64,342</a> as of 02:38 a.m. EST on trading volume that rose 37% to $32.7 billion.
This decline coincides with the total cryptocurrency market cap dropping around 4% in the last 24 hours to about $2.34 trillion, led by BTC.
 The crypto market is experiencing a flash crypto crash today due to several factors. Yesterday’s arrest of Samourai Wallet’s CEO and CTO by the U.S. Department of Justice caused a ripple effect across the market, resulting in significant declines in major cryptocurrencies, including Bitcoin and Ethereum, within an hour of the announcement.&nbsp;
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 BREAKING: The Department of Justice has charged and arrested the <a href="https://twitter.com/SamouraiWallet?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@SamouraiWallet</a> co-founders with "conspiracy to commit money laundering and conspiracy to operate an unlicensed money transmitting business." <a href="https://t.co/gdEhPB0guo" rel="noopener noreferrer nofollow">pic.twitter.com/gdEhPB0guo</a>
 — Will Foxley (@wsfoxley) <a href="https://twitter.com/wsfoxley/status/1783213246033305982?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 24, 2024</a>
</blockquote>
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Additionally, the market’s volatility has been exacerbated by geopolitical tensions in the Middle East, specifically the Israeli military’s actions against Hezbollah-linked sites in Southern Lebanon.&nbsp;
These combined factors have created an environment of uncertainty, leading to investor unease and triggering widespread liquidation of long positions. 
There has also been a decline in spot BTC ETF (exchange-traded fund) inflows, with BlackRock’s iShares Bitcoin Trust (IBIT) registering zero flow for the first time since its inception.
<h2 id="span-style-font-weight-400-bitcoin-price-set-for-a-trend-reversal-over-the-bullish-pennant-span">Bitcoin Price Set For A Trend Reversal Over The Bullish Pennant</h2>
<figure id="attachment_512089" aria-describedby="caption-attachment-512089" style="width: 100%" class="wp-caption alignnone"><img decoding="async" class="size-full wp-image-512089" src="https://insidebitcoins.com/wp-content/uploads/2024/04/BTCUSD_2024-04-25_10-38-47-1.png" alt="Bitcoin Price Chart Analysis Source: Tradingview.com" width="1281" height="555" srcset="https://insidebitcoins.com/wp-content/uploads/2024/04/BTCUSD_2024-04-25_10-38-47-1.png 1281w, https://insidebitcoins.com/wp-content/uploads/2024/04/BTCUSD_2024-04-25_10-38-47-1-300x130.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/04/BTCUSD_2024-04-25_10-38-47-1-1024x444.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/04/BTCUSD_2024-04-25_10-38-47-1-768x333.png 768w" sizes="(max-width: 1281px) 100vw, 1281px">
 <figcaption id="caption-attachment-512089" class="wp-caption-text">
 BTCUSD Chart Analysis Source: Tradingview.com
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</figure>
The Bitcoin price has been on a steady rise since November last year, as the bulls pushed the price over to the resistance around $49,000. This resistance allowed the bears to push the price down through a slight retrace to $40,000.
The BTC bulls then took control of the price, pushing Bitcoin through a markup phase to an all-time high (ATH) of $73,737 in March. BTC has since been on a consolidation channel, eventually forming a bullish pennant.
BTC is trading over the 200-day Simple Moving Average (SMA), which confirms the bullish rally to the upside. If the bulls sustain this momentum, BTC could surpass the 50-day SMA at $67,479, further cementing the bullish sentiment.
Additionally, the Relative Strength Index (RSI) is also rebounding from the 30-oversold level to 45, a sign that buying pressure is steadily increasing. If the momentum continues, the RSI will soar to the 70-overbought region, showing continued investor optimism.
<h2 id="span-style-font-weight-400-bitcoin-price-prediction-span">Bitcoin Price Prediction</h2>
The Bitcoin price analysis shows a bullish bias in the long term, with the price aiming to break out of the consolidation channel as the bulls aim for $85,000.
The positive movement by the RSI and the golden cross at $67,669 indicates a positive outlook for optimistic investors.
However, if the bears exert more pressure at this level, BTC could go through a retrace to the next support zone at $48,268, coinciding with the 200-day SMA.
Meanwhile, as the Bitcoin price bulls gear up for a trend reversal, investors are continuing to buy Bitcoin Minetrix, a Bitcoin derivative that’s raised over $13 million.
<h2 id="span-style-font-weight-400-bitcoin-minetrix-offers-last-chance-to-buy-presale-ends-in-3-days-span">Bitcoin Minetrix Offers Last Chance To Buy – Presale Ends In 3 Days</h2>
Investors have slightly less than three days to buy the stake-to-mine crypto token <a href="https://insidebitcoins.com/visit/bitcoinminetrix" rel="noopener noreferrer nofollow">Bitcoin Minetrix (BTCMTX)</a> before its presale concludes at 12:00 UTC on Sunday, April 28, with the claim after that on April 30 at 10:00 UTC.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/hashtag/BTCMTX?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTCMTX</a> Announcement! 📢
 The final stage of <a href="https://twitter.com/hashtag/BitcoinMinetrix?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BitcoinMinetrix</a> will be ending on April, 28th at 12 pm UTC! ⏰
 Followed by the Claim event scheduled for April, 30th at 10 pm UTC! 🚀
 Mark your calendars to ensure you don't miss out on these important dates! 🗓️ <a href="https://t.co/s8RSTqlj6I" rel="noopener noreferrer nofollow">pic.twitter.com/s8RSTqlj6I</a>
 — Bitcoinminetrix (@bitcoinminetrix) <a href="https://twitter.com/bitcoinminetrix/status/1782427947640508812?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 22, 2024</a>
</blockquote>
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Usually, Bitcoin cloud mining involves high hardware costs and deceptive scams. Bitcoin Minetrix solves those problems by offering a reliable cloud mining platform for everyday crypto users, enabling them to avoid the complexity and resource-intensive nature of the activity.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Introducing the concept of <a href="https://twitter.com/hashtag/CloudMining?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#CloudMining</a> for $BTC⚡️💻
 Cloud mining allows individuals to engage in <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> mining without the hassle of owning or handling the hardware themselves.
 Exploring the benefits:
 💰No upfront hardware costs. 🔧Requires only basic technical knowledge. <a href="https://t.co/0rke3tRJ5l" rel="noopener noreferrer nofollow">pic.twitter.com/0rke3tRJ5l</a>
 — Bitcoinminetrix (@bitcoinminetrix) <a href="https://twitter.com/bitcoinminetrix/status/1783405639693115852?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 25, 2024</a>
</blockquote>
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Bitcoin Minetrix deploys Ethereum smart contracts to net investors greater yields through a staking protocol that mines real Bitcoin. All you have to do is <a href="https://insidebitcoins.com/visit/bitcoinminetrix" rel="noopener noreferrer nofollow">buy and stake BTCMTX</a>, which has an impressive 53% annual percentage yield (APY).
Staking users will receive cloud-mining credits when Bitcoin Minetrix launches, which will represent hash power.
According to Cryptonews, a crypto YouTube channel, BTCMTX has the potential to soar 20X after launch.
<iframe title="Bitcoin Minetrix Raises $12.5 Million! Next 20x Crypto?" width="640" height="360" src="https://www.youtube.com/embed/KyhkdLb4LhU?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
 The token has a fixed price of $0.0148 until the conclusion of the ICO. If you are interested, buy now before time runs out.
To take part in the presale, <a href="https://insidebitcoins.com/visit/bitcoinminetrix" rel="noopener noreferrer nofollow">visit the BTCMTX official website here</a> and swap your ETH or USDT for BTCMTX. You can also make purchases directly using a bank card.
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Why Is Crypto Down Today? The Bitcoin Price Slumps 4% As Traders Shift To This BTC Derivative With Only Five Days Left

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