Ethereum

Bitcoin

<ul> 
 <li>Bitcoin faces bearish pressure but potential rebound signals noted.</li> 
 <li>Significant Bitcoin withdrawals indicate bullish investor sentiment.</li> 
</ul> 
Bitcoin has encountered a tumultuous ride in recent days, grappling with a formidable bearish onslaught since the weekend. With BTC hitting a nine-day low of approximately 67,212, just hours ago, its current valuation stands at $67,417, marking a 2.83% decline. Despite the downward spiral, trading volume has surged by 2.87%. Over the past week, Bitcoin has experienced a 1.87% dip, while over the month, it boasts a commendable 10% ascent. 
In tandem with Bitcoin’s fluctuations, the global crypto market cap has witnessed a 3.04% decrease, resting at $2.45 trillion. However, the total market volume over the last 24 hours soared to $86.82 billion, signifying a substantial 61.59% surge. Bitcoin’s dominance stands at 54.17%, marking a marginal uptick of 0.09% throughout the day. 
Despite an ambitious attempt to breach the $70,000 threshold, Bitcoin was met with resolute resistance, experiencing a rapid plummet of over $2,000 within a mere hour. This setback echoed across the altcoin spectrum, with <a href="https://thenewscrypto.com/should-ethereum-traders-be-prepared-for-an-imminent-breakout/" target="_blank" rel="noreferrer noopener">Ethereum</a> shedding 4.3% to settle at $3,512.&nbsp; 
Amid this volatile landscape, technical indicators present a glimmer of hope. The TD Sequential signals a buying opportunity on Bitcoin’s hourly chart, forecasting a potential rebound spanning one to four candlesticks. 
Meanwhile, the <a href="https://coinmarketcap.com/" target="_blank" rel="noreferrer noopener">crypto</a> community’s scrutiny intensifies as market analysts dissect Bitcoin’s recent movements. A noteworthy revelation from 10X Research unveils the withdrawal of nearly 100,000 Bitcoins from <a href="https://thenewscrypto.com/uk-crypto-exchange-lykke-suspends-trading-post-22-million-exploit/" target="_blank" rel="noreferrer noopener">exchanges</a> in the past month, amounting to approximately $6.75 billion. This massive exodus underscores a burgeoning bullish sentiment among investors, typically signaling an intent to hodl rather than liquidate assets. 
<h3 class="wp-block-heading" id="h-btc-bears-to-prevail">BTC Bears To Prevail?</h3> 
Delving deeper into Bitcoin’s trajectory, the daily chart paints a nuanced picture. The digital asset finds itself entrenched in a bearish trend, with the 9-day Exponential Moving Average resting at $68,993. Meanwhile, the daily Relative Strength Index (<a href="https://in.tradingview.com/chart/EJXIwxE9/?symbol=BINANCE%3ABTCUSDT" target="_blank" rel="noreferrer noopener">RSI</a>) hovers at 55, indicative of a neutral stance. 
Looking ahead, Bitcoin’s fortunes hang precariously in the balance. Should the bulls sustain their momentum, the coveted $70,758 mark beckons as the next milestone, with $71,967 looming thereafter. Conversely, a resurgence of bearish sentiment could precipitate a descent to $65,196, potentially finding support at the $63,423 level.

Are Traders Bearish on Bitcoin Amid the Current Market Collapse?

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