2024

Bitcoin

Captain

Time

<p>The post <a href="https://coinpedia.org/news/bitcoin-price-crash-to-66k-right-time-to-buy-the-dip/">Bitcoin Price Crash To $66k: Right Time To Buy The Dip?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>After struggling to rally beyond $71,272 in the past few weeks, <a href="https://markets.coinpedia.org/bitcoin/">Bitcoin’s (BTC) price</a> has led the altcoin industry in significant bleeding. According to the latest market data, the cryptocurrency market cap declined by over $200 billion in the past 24 hours to about $2.65 trillion.&nbsp;</p> 
<p>As a result, more than $400 million, with the majority invoking long traders, was liquidated from the crypto market in the past 24 hours. The sudden crypto selloff comes after $15 billion worth of Bitcoin and Ethereum options expired at the tail end of March.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-buy-the-dip-narrative">Buy the Dip Narrative</h2> 
<p>The preparation for the upcoming <a href="https://coinpedia.org/beginners-guide/what-is-bitcoin-halving/">Bitcoin halving</a> has seen increased adoption of the stablecoins by whale traders. According to an on-chain data analysis by Santiment, wallets holding at least $5 million in crypto assets have accumulated about 5.09 percent of the top stablecoin supply. As a result, the crypto whales have significantly increased their buying power amid the upcoming halving.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4c9.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">#Bitcoin</a> has seen a drop to $66.4K, and <a href="https://twitter.com/hashtag/altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#altcoins</a> have shed much more of their market caps as prices have continued their concerning retracement to kick off April. However, the crowd is staying quite strong and showing confidence toward the prospects of a quick rebound. <br><br>The… <a href="https://t.co/tbGmtmTNIb">pic.twitter.com/tbGmtmTNIb</a></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1775034934702510319?ref_src=twsrc%5Etfw">April 2, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Remarkably, Santiment analysis has shown that the crowd remains optimistic for an inevitable rebound in the coming weeks. The social volume for buying the dip has outpaced those of sellers.</p> 
<p>Also Read : <a href="https://coinpedia.org/news/bitcoin-halving-in-19-days-heres-the-best-investment-strategy-for-the-next-6-12-months/">Bitcoin Halving In 19 Days: Here’s the Best Investment Strategy for the Next 6-12 Months</a></p> 
<h2 class="wp-block-heading" id="h-mid-term-expectations-nbsp">Mid-term Expectations&nbsp;</h2> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> Bullish pennant formation on the 12hrs timeframe Chart.<br><br>Expecting upside Breakout later this Week. <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/270d.png" alt="✍" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>In Case of Successful Breakout, Bitcoin might hit the 88-90k this month.<a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> <a href="https://t.co/TLsujGNSYj">pic.twitter.com/TLsujGNSYj</a></p>— Captain Faibik (@CryptoFaibik) <a href="https://twitter.com/CryptoFaibik/status/1775029152900674021?ref_src=twsrc%5Etfw">April 2, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>The ongoing crypto correction is expected to yield a possible pre-halving rally despite the notable cash outflows from Grayscale’s GBTC. According to a Bitcoin price analysis by a popular crypto analyst, Captain Faibik, the flagship coin is preparing for an inevitable bullish breakout later this week.</p> 
<p>The crypto analyst noted that Bitcoin’s price is forming a bullish pennant pattern in the higher time frame, thus a target of between $88k and $90k by the end of this month.</p> 
<p>Ideally, if the <a href="https://coinpedia.org/price-analysis/bitcoin-price-begins-to-consolidate-ahead-of-halving-is-this-the-beginning-of-a-bearish-april/">Bitcoin price</a> registers a sudden bullish breakout, the altcoin industry will follow suit in the subsequent weeks.</p> 
<p>Also Check Out The : <a href="https://coinpedia.org/news/why-is-the-bitcoin-btc-price-down-today/">Why is The Bitcoin (BTC) Price Down Today?</a></p>

Bitcoin Price Crash To $66k: Right Time To Buy The Dip?

Table of Contents

CoinPedia News

Autres articles publiés le 2 avr. 2024

Exploring the Intersection of AI and Blockchain

BNB Chain Launches Meme Competition; Offers Up To 1 Million USD In Rewards

Ethereum's Buterin Revisits His Post About L3s

In March, Bitcoin miners received a record $2 billion in rewards.

NAVI Protocol Introduces NAVI X Ecosystem Fund to Support Sui Blockchain Development (2 Apr)

Panther's CTO Discusses Future of DeFi Privacy on Epicenter Podcast

Join our free newsletter for daily crypto updates!