Shiba

bullish

Bitcoin

when

Shiba Inu

<p>The crypto market has faced a notable dip lately. At publication, the market cap has fallen by 1.30% to $2.04 trillion, while trading volume has plummeted by 40.36% to $36.02 billion.&nbsp;</p>
<p>Bitcoin (BTC) trades at <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">$58,229.23 </a>at press time, a 1.17% decline in the past day. This decline comes as a response to broader market trends and signals underlying concerns about future market movements.</p>
<h2 class="wp-block-heading" id="strong-bitcoin-price-analysis-strong"><strong>Bitcoin Price Analysis</strong></h2>
<p>Crypto analyst Karan Singh Arora’s tweet expresses frustration with <a href="https://captainaltcoin.com/btc-sell-off-causes-dip-below-60k-crypto-presales-still-ramping-up/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s performance</a> on a Sunday morning, questioning when better days will arrive for the crypto.&nbsp;</p>
<p>The tweet hints at circulating rumors suggesting that the current bull run may have concluded. It also alludes to speculation that a new all-time high for Bitcoin might not occur until 2026 which affects the broader crypto market.</p>
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   <p lang="en" dir="ltr">What A Start To Sunday Morning <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> when will you show us good days! <br><br>Are the rumours true that bull run is over and new ATH coming in 2026 Now ? <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f629.png" alt="😩" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> <a href="https://t.co/oS1JULub4D" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/oS1JULub4D</a></p>— Karan Singh Arora (@thisisksa) <a href="https://twitter.com/thisisksa/status/1830071278167802338?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 1, 2024</a>
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<p>Analyst Julio Moreno <a href="https://x.com/jjcmoreno/status/1829539960564887878" target="_blank" rel="noopener noreferrer nofollow">analysis indicate that if Bitcoin</a> breaches the $56k mark, the risk of a deeper correction will increase.This potential decline highlights the precarious nature of Bitcoin’s valuation.&nbsp;</p>
<p>Additionally, Bitcoin dominance is rising, suggesting that altcoins are experiencing even more declines. The current market environment indicates a tough period for altcoins, with their losses exacerbated by Bitcoin’s retracements.</p>
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<p>Read also: <a href="https://captainaltcoin.com/how-much-will-shiba-inu-shib-be-worth-in-2025-if-bitcoin-price-hits-100k/" target="_blank" rel="noopener noreferrer nofollow">How Much Will Shiba Inu (SHIB) Be Worth in 2025 If Bitcoin Price Hits $100K?</a></p>
<h2 class="wp-block-heading" id="strong-key-metrics-to-watch-strong"><strong>Key Metrics To Watch</strong></h2>
<p>A key metric to watch is the Puell Multiple index, which is currently in a “Decision Zone” between 0.6 and 0.8, according to Grizzly from Cryptoquant. Historically, when this index falls below 0.6, it has often signaled a good opportunity for Dollar-Cost Averaging.&nbsp;</p>
<figure class="wp-block-image"><img loading="lazy" decoding="async" width="623" height="305" src="https://captainaltcoin.com/wp-content/uploads/2024/09/image-4.png" alt="" class="wp-image-550435" srcset="https://captainaltcoin.com/wp-content/uploads/2024/09/image-4.png 623w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-4-300x147.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-4-1024x501.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-4-766x375.png 766w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-4-1536x752.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-4-2048x1003.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-4-306x150.png 306w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-4-100x49.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-4-715x350.png 715w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-4-788x385.png 788w" sizes="(max-width: 623px) 100vw, 623px">
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<p>Source: <a href="https://cryptoquant.com/insights/quicktake/66d30d148e55b5397431b76a-Bitcoin-in-a-Neutral-Zone-Insights-from-the-Puell-Multiple-Index" target="_blank" rel="noopener noreferrer nofollow">Cryptoquant</a></p>
<p>On the other hand, when the index rises above 0.8, it typically precedes bullish behavior, driving prices to new all-time highs. Presently, the Puell Multiple index’s position suggests that if it dips below 0.6, it might present a favorable buying opportunity for investors looking to capitalize on potential market reversals.</p>
<figure class="wp-block-image"><img loading="lazy" decoding="async" width="1361" height="366" src="https://captainaltcoin.com/wp-content/uploads/2024/09/image-5.png" alt="" class="wp-image-550443" srcset="https://captainaltcoin.com/wp-content/uploads/2024/09/image-5.png 1361w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-5-300x81.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-5-1024x275.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-5-766x206.png 766w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-5-1536x413.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-5-2048x551.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-5-558x150.png 558w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-5-100x27.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-5-1302x350.png 1302w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-5-788x211.png 788w" sizes="(max-width: 1361px) 100vw, 1361px">
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<p>Source: <a href="https://www.coinglass.com/currencies/BTC" target="_blank" rel="noopener noreferrer nofollow">Coinglass</a></p>
<p>Moreover, the Bitcoin market is witnessing liquidations across both long and short positions. This trend reflects a market filled with uncertainty and fluctuating trader sentiment. Traders who anticipated price increases faced liquidations when Bitcoin’s price remained stable.&nbsp;</p>
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<p>The post <a href="https://captainaltcoin.com/bitcoin-price-dips-below-58k-why-is-the-crypto-market-down-today/" rel="noopener noreferrer nofollow">Bitcoin Price Dips Below $58k – Why Is The Crypto Market Down Today?&nbsp;</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bitcoin Price Dips Below $58k – Why Is The Crypto Market Down Today?

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