bullish

United

Bitcoin

mini

BlackRock

<p>The post <a href="https://coinpedia.org/news/bitcoin-price-prediction-august-possible-drop-to-48k-53k-before-surge-heres-why/">Bitcoin Price Prediction August: Prepare for Dip to $48k Before the Bull Rally!</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>After opening August with a bearish outlook, Bitcoin’s (BTC) price continued to bleed in the past 24 hours. The flagship coin had slipped more than 2 percent to trade at about $63,981 on Friday during the early European session.&nbsp;</p> 
<p>The trend extended to the altcoin market, pushing the total cryptocurrency market cap to about $2.39 trillion. This drop led to over $245 million in liquidations from the crypto derivatives market in the last 24 hours, mostly affecting long-position traders.</p> 
<h2 class="wp-block-heading" id="h-high-activity-among-bitcoin-whales">High Activity Among Bitcoin Whales</h2> 
<p>Despite growing geopolitical tensions in the Middle East, the crypto industry is seeing increased on-chain activity. With the risk of these tensions devaluing fiat currencies, many investors are turning to cryptocurrencies for stability amid global economic uncertainties.</p> 
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   <p lang="en" dir="ltr">On August 1, the total net inflow of Bitcoin spot ETFs was $50.64 million. Grayscale ETF GBTC had a net outflow of $71.3271 million on a single day, Grayscale mini ETF BTC had a net inflow of $191 million, and BlackRock ETF IBIT had a net inflow of $25.9038 million.…</p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1819222929152135195?ref_src=twsrc%5Etfw">August 2, 2024</a>
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<p>According to the latest market data, the US spot Bitcoin ETFs registered a net cash inflow of about $50.64 million on Thursday. Meanwhile, <a href="https://x.com/wublockchain/status/1819202019867218107?s=46">MicroStrategy</a> reiterated its commitment to the Bitcoin strategy by planning to raise $2 billion to purchase more units.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-what-s-next-for-bitcoin"><strong>What’s Next for Bitcoin?</strong></h2> 
<p>CryptoQuant’s data suggests that after the recent downturn, we might see a period of consolidation before a potential breakout to new all-time highs. Over the past five months, Bitcoin’s price has been in a defined consolidation range, currently moving in a downward trend that could signal a bullish flag.</p> 
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   <p lang="en" dir="ltr">At the $73K level, new investors sold 16% of their coins. A similar situation occurred before the 2020-2021 rally, during which the realized capitalization of cohorts holding coins for up to three months increased to 74%. <a href="https://t.co/4zRGzLvyNo">pic.twitter.com/4zRGzLvyNo</a></p>— Axel 
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   <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f64c.png" alt="🙌" class="wp-smiley" style="height: 1em; max-height: 1em;"> Adler Jr (@AxelAdlerJr) <a href="https://twitter.com/AxelAdlerJr/status/1819213733802983425?ref_src=twsrc%5Etfw">August 2, 2024</a>
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<p>Technical analysis indicates that Bitcoin’s price might drop to between $48,000 and $53,000 in the coming weeks before a likely bullish rise.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> worst case scenario,<br>Although I will try to long at 61-62k, but I am also ready for below scenario is where we see c wave down towards 50-55k. <a href="https://t.co/GDDp6GLjNf">https://t.co/GDDp6GLjNf</a> <a href="https://t.co/UzgoeHAsbI">pic.twitter.com/UzgoeHAsbI</a></p>— ᴀʟᴛꜱᴛʀᴇᴇᴛ ʙᴇᴛꜱ (@AltstreetBet) <a href="https://twitter.com/AltstreetBet/status/1819180519998795867?ref_src=twsrc%5Etfw">August 2, 2024</a>
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<p>The expected interest rate cut in the US later this year, along with the general election, is anticipated to boost the cryptocurrency market’s outlook.</p> 
<p><strong>What are your thoughts on Bitcoin’s future? Share your predictions.</strong></p>

Bitcoin Price Prediction August: Prepare for Dip to $48k Before the Bull Rally!

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