Bitcoin ETF

Bitcoin

Material

Rekt

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin (BTC) struggles to maintain $60,000 support as post-halving danger zone unnerves investors.</li>
 <li>Institutional players may be influencing Bitcoin’s price movements, as per Material Indicators.</li>
</ul>
<p>Bitcoin’s price wavered near the $60,000 mark as the post-halving “danger zone” unsettled investors.</p>
<p>The intraday lows for Bitcoin hit $60,190, disrupting attempts to sustain levels near $63,000.</p>
<p>The reasons behind this sudden drop are varied.</p>
<h2 id="market-observations">Market Observations</h2>
<p>Skew, a renowned trader, stated that the monthly open has been swept again and monthly buyers have been taken out.</p>
<p>He suggested that if bulls want to break this downtrend, the key area to watch is between $60.8K and $61K.</p>
<p>Material Indicators, a trading resource, speculated that large-volume institutional entities might be influencing Bitcoin’s price.</p>
<p>They suggested that some institutional entities might not want Bitcoin to breakout over the weekend while the Bitcoin ETF market is closed.</p>
<h2 id="bitcoin-s-future">Bitcoin’s Future</h2>
<p>Material Indicators also highlighted an order book liquidity on <a href="https://crypto.ro/en/exchange/binance/" rel="noopener noreferrer nofollow">Binance</a>, the largest global exchange, with a new block around $62,500.</p>
<p>They predicted that this block could be lifted after the weekly close.</p>
<p>Rekt Capital, a popular trader and analyst, noted that Bitcoin’s price tends to drop in the weeks following a halving event.</p>
<p>He suggested that this “danger zone” is now coming to an end.</p>
<p>Last month, Rekt Capital predicted a significant downside for Bitcoin within a two-week period, which was realized with a drop to two-month lows of $56,500.</p>

Bitcoin’s Crucial Countdown: 2 Days Remain as BTC Braces for $60K Reassessment

Table of Contents

crypto.ro global

Άλλα άρθρα που δημοσιεύτηκαν στις 11 Μαΐ 2024

Investor Alert: 3 Cryptos Set for 3000% Gains in 2024

Why Bitcoin’s Post-Halving Rally Is Certain, Analyst Explains

Sam Bankman-Fried Maintains Innocence While Subsisting On Rice And Beans In Prison

Franklin Templeton CEO says all ETFs and mutual funds will be on blockchain

Cardano’s (ADA) On-chain Volume Declines: Are Bulls Wrong?

Ethereum Gas Fees Hit Lowest In Four Years

Join our free newsletter for daily crypto updates!