Bitcoin

David Vance

when

<p>The Nasdaq Composite Index continues its winning streak, breaking a record for the seventh consecutive day.</p> 
<p>The Dow Jones Industrial Average and S&amp;P 500 are also rising, boosted by increased investor interest in chip maker Nvidia and artificial intelligence. However, Bitcoin, the world's largest cryptocurrency, continues to decline.</p> 
<p>Here are four factors that may be holding Bitcoin price back, according to analysts.</p> 
<h2 id="bitcoin-is-taking-a-breath">“Bitcoin is Taking a Breath”</h2> 
<p>Bitcoin is holding its breath after a strong start to the year, according to Adam Morgan McCarthy, an analyst at crypto data and analytics firm Kaiko Research. While Nasdaq is up 18% this year, Bitcoin is up 53%. McCarthy notes that Bitcoin's movements are driven by different factors.</p> 
<p>“Bitcoin has had a very strong start to the year, particularly thanks to regulatory developments in the US,” McCarthy said, adding: “The next drivers for Bitcoin will be the long-term impact of the recent halving and ETF demand.”</p> 
<h2 id="btc-halving-incident">“BTC Halving Incident”</h2> 
<p>The fourth BTC halving, which took place in mid-April, halved the amount of Bitcoin rewards miners received for maintaining the blockchain. In general, this decrease in supply is expected to push prices up. However, the effects of the halving usually take several months to manifest and are most visible when the demand for BTC increases.</p> 
<p>“ETF demand in the U.S. could have a big impact here in the coming months as more advisors and firms onboard new investors,” McCarthy added.</p> 
<p><b>Related News: <a href="https://en.bitcoinsistemi.com/watch-out-analysts-expect-very-high-volatility-in-these-altcoins-next-week/" target="_blank" rel="dofollow">Watch Out: Analysts Expect Very High Volatility in These Altcoins Next Week</a></b> </p>
<h2 id="etf-outflows">ETF Outflows</h2> 
<p>Last week saw the worst outflow from spot Bitcoin exchange-traded funds (ETFs) since March, totaling $620 million. These short-term outflows contributed to negative market sentiment, negatively impacting Bitcoin's price action.</p> 
<p>However, the upcoming launch of Ethereum ETFs and recent positive macroeconomic data suggest that BTC and other major crypto assets may soon reverse their trends and target new cycle highs.</p> 
<h2 id="mt-gox-payments">Mt. Gox Payments</h2> 
<p>Once the world's largest crypto exchange, Mt. Gox has cast a long shadow on the industry since its collapse following a hacking attack in 2014. Approximately $9.2 billion worth of Bitcoin is tied up in bankruptcy and awaiting repayment to creditors.</p> 
<p>Since the deadline for redemptions is set for October 31, the market may be waiting for these redemptions to occur. David Duong, research manager of crypto exchange Coinbase, recently said that a mass Bitcoin redemption event is unlikely. However, concerns about these paybacks may still constrain liquidity as market participants may refrain from deploying new capital amid uncertainty.</p> 
<h2 id="btc-miners">BTC Miners</h2> 
<p>Bitcoin miners are also putting pressure on the BTC price. Increased supply may be contributing to Bitcoin's current price stagnation as miners sell their holdings.</p> 
<p>*This is not investment advice.</p> 
<p><b> Continue Reading: <a href="https://en.bitcoinsistemi.com/why-is-bitcoin-btc-falling-while-nasdaq-and-us-stock-markets-break-records-here-are-5-possible-reasons/">Why Is Bitcoin (BTC) Falling While Nasdaq and US Stock Markets Break Records? Here are 5 Possible Reasons</a></b></p>

Why Is Bitcoin (BTC) Falling While Nasdaq and US Stock Markets Break Records? Here are 5 Possible Reasons

Съдържание

Bitcoin Sistemi EN

Други статии, публикувани на 21.06.2024 г.

What Is ‘Yescoin’? The Telegram Tap-to-Earn Game and Airdrop Details

Bitstamp Announces Listing of Bonk (BONK) for Global Trading

Why Investors Should Watch BlockDAG as It Approaches $52.4M Presale? Updates on XRP and ICP Forec...

Qubetics Whitelist Outruns Polygon and Tron As Investors’ New Favorite

Bitbot and Slothana Are Fading Stars in Front of MoonBag: Start Staking Rewards with MoonBag with...

Worldcoin Price: Is Nvidia’s Rocketing Stock Sparking AI Crypto Boom?

Присъединете се към нашия безплатен бюлетин за ежедневни крипто актуализации!