Cryptocurrency

Bitcoin ETF

Bitcoin

Captain

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/why-is-bitcoin-falling-3/" data-wpel-link="internal">Why Is Bitcoin Falling?</a> 
<a href="https://coin-turk.com/dikkat-bitcoin-ve-ethereumda-hareket-yonunu-belirleyecek-seviyeler" data-wpel-link="internal">Bitcoin</a> and <a href="https://coin-turk.com/sicak-gelisme-ethereum-eth-icin-kritik-tarih-belli-oldu-mart-ayina-dikkat" data-wpel-link="internal">altcoin</a> markets experienced a significant drop today, making headlines as the largest cryptocurrency fell below the $57,000 level. In the last 24 hours, <a href="https://en.coin-turk.com/glassnode-founders-predict-altcoin-rise/" data-wpel-link="internal">Bitcoin</a> dropped by up to 10%, leading to double-digit losses across the rest of the cryptocurrency market. Currently, investors are cautiously awaiting the Federal Open Market Committee‘s (FOMC) latest interest rate decision, with many choosing to observe the unfolding events from the sidelines amid the uncertainty. 
<h2 style="text-align: justify" id="strong-bitcoin-neden-d-yor-strong">Bitcoin Neden Düşüyor?</h2> 
<a href="https://coin-turk.com/sol-ve-mina-icin-sirada-ne-var-solana-fiyat-grafigi-ve-mina-coin-yorum" data-wpel-link="internal">Cryptocurrency</a> market remains under heavy selling pressure, and analysts at 10X Research have pointed out fundamental differences between the current and previous downturns. According to analysts, this decline is distinguished by several unique factors, particularly as it corresponds to the third 20% correction within a larger bull market since the beginning of the fifth Bitcoin bull run in June 2023. 
Interestingly, 10X Research analysts, who had previously predicted each of the three corrections, indicated that one of the distinctive factors of this downturn is the different risk management strategies used by institutional investors compared to individual investors, and highlighted that institutions triggered the downturn. 
As Bitcoin’s price approaches the average entry price of U.S. spot Bitcoin ETF holders, market dynamics are influenced by a series of factors unlike previous downturns, with institutional sentiment playing a significant role. 
<h2 style="text-align: justify" id="strong-d-e-ra-men-analistler-i-yimserli-ini-koruyor-strong">Düşüşe Rağmen Analistler İyimserliğini Koruyor</h2> 
As of this writing, Bitcoin has seen a 7.87% decline in the last 24 hours, trading around $57,500. Despite the current downward trend in the largest cryptocurrency, some analysts remain optimistic about its future. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-346664" src="https://coin-turk.com/wp-content/uploads/2024/05/Bitcoin-Neden-Dusuyor.jpg" alt="" width="1624" height="792"> 
 Captain Faibik and other market experts expect an upcoming rally that could lead to new all-time highs for Bitcoin in the coming days. Similarly, Michael van de Poppe suggests that Bitcoin may be nearing the end of its correction phase, and advises monitoring the potential support range of $56,000 to $58,000. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/why-is-bitcoin-falling-3/" data-wpel-link="internal">Why Is Bitcoin Falling?</a></h5>

Why Is Bitcoin Falling?

Table of Contents

COINTURK NEWS

Other articles published on May 1, 2024

The 5 Top Cryptos To Invest In During the Market Dip with the Looming Ethereum ETF Approval

Solana to Bitcoin Bridge Zeus Network Targets Q3 2024 Debut

Michael Saylor Breaks Silence on Bitcoin's Store-of-Value Qualities

ATOM Price Jumps Despite Bearish Sentiment! Cosmos To Hit $10 Soon?

Binance Burns 1.4 Billion Terra Luna Classic (LUNC) Tokens!

Price analysis 5/1: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB

Join our free newsletter for daily crypto updates!