Bitcoin

April

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoins-price-drop-raises-concerns/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin’s Price Drop Raises Concerns</a><br></p>
<p style="text-align: justify">The world’s first and by volume the largest cryptocurrency, <a href="https://coin-turk.com/bitcoinde-boganin-ayak-sesleri-bu-gosterge-aralik-2017-seviyelerine-dondu" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (<a href="https://coin-turk.com/unlu-ceodan-her-bitcoin-btc-yatirimcisinin-duymasi-gereken-itiraf" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a>), has drawn attention today due to a significant price drop. After maintaining a price above $69,000 for several days, <a href="https://en.coin-turk.com/anticipating-bitcoins-halving-supply-shock-and-price-implications/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>‘s price retreated below $66,000. This development has raised concerns about the possibility of a larger price decline.</p>
<h2 style="text-align: justify" id="will-bitcoin-s-price-fall-further">Will Bitcoin’s Price Fall Further?</h2>
<p style="text-align: justify">A well-known crypto analyst, Ali Martinez, made a notable statement regarding a potential Bitcoin price correction. In an article shared on X, he stated:</p>
<blockquote>
 <p style="text-align: justify">A 30% price correction is the most bullish thing that could happen to #Bitcoin.</p>
</blockquote>
<p style="text-align: justify">Martinez, who commented on <a href="https://en.coin-turk.com/grayscale-development-paves-the-way-for-spot-bitcoin-etf-approval/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a>, also mentioned that liquidity will play a significant role. The crypto analyst indicated that a 30% correction in Bitcoin’s price could “help market makers find liquidity.” With the emergence of this liquidity, BTC’s value could reach its all-time high.</p>
<p style="text-align: justify">Moreover, in another post shared on X, Martinez highlighted a critical level for Bitcoin’s recovery. He is closely monitoring the 200 Exponential Moving Average (EMA) on the four-hour chart. Since the beginning of February, this level has proven to be a challenging barrier against further downward spirals for BTC.</p>
<p><img loading="lazy" decoding="async" loading="lazy" class="aligncenter size-full wp-image-336469" src="https://coin-turk.com/wp-content/uploads/2024/04/ali-martinez-site-coin-turk-com.jpg" alt="" width="2208" height="1511"></p>
<p style="text-align: justify">Additionally, Martinez emphasized the importance of this level, suggesting that holding it could pave the way for a significant recovery in Bitcoin’s price. However, a drop below this support level, similar to what happened in mid-January, could mean further losses for Bitcoin’s price.</p>
<p style="text-align: justify">While a significant correction could lead to a price drop for BTC, it could also set the stage for a long-term uptrend. The pullback could provide a better entry point for new investors, leading to a liquidity flow that aligns with Martinez’s prediction.</p>
<h2 style="text-align: justify" id="today-s-crash-in-btc-price">Today’s Crash in BTC Price</h2>
<p style="text-align: justify">As of press time, Bitcoin’s price is trading at $65,776.07, down 5.66% on Tuesday, April 2nd. BTC’s market cap stands at $1.29 trillion. Conversely, BTC’s trading volume has surged by 74.04% in the last 24 hours to $45.68 billion.</p>
<p style="text-align: justify">The recent pullback in BTC can be attributed to the massive liquidation of long positions recorded today. According to Coinglass, out of a total of $149.54 million, long position liquidations accounted for $108.78 million. Meanwhile, short sellers took advantage of the situation to realize profits.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoins-price-drop-raises-concerns/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin’s Price Drop Raises Concerns</a></h5>

Bitcoin’s Price Drop Raises Concerns

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