Greed

2024

Bitcoin

Shiba Inu

<ul>
 <li><strong>Bitcoin price declined by 0.39% in the last 24 hours, slipping down to $58K</strong></li>
 <li><strong>The BTC market sentiment resumes to be in the fear zone, evident from the fear and greed index at 29.</strong></li>
</ul>
<p>The slightest revival of the Bitcoin price yesterday was less impactful than expected, failing to break $60,000. BTC struggled to clear the $59,500 level and dipped by 0.39% over the past 24 hours to a bottom of $57,209.</p>
<p>The German government’s recent <a href="https://thenewscrypto.com/is-germanys-bitcoin-sell-off-a-sign-of-market-shakeup/" target="_blank" rel="noopener noreferrer nofollow">sell-off</a> might shake the market and has made big waves in the crypto market. According to Arkham Intelligence <a href="https://platform.arkhamintelligence.com/explorer/entity/germany" target="_blank" rel="noopener noreferrer nofollow">data</a>, the government wallets transferred out a total of 8,853 Bitcoins. Currently, the total holdings stand at 15,110 Bitcoins worth approximately $887 million.&nbsp;</p>
<p>Amid the market decline, an optimistic update has come up. The US Presidential Candidate, Donald J. Trump, has been <a href="https://x.com/TheBitcoinConf/status/1811181245906506031" target="_blank" rel="noopener noreferrer nofollow">confirmed</a> to deliver a speech at a prominent crypto conference — Bitcoin 2024 — in Nashville on July 27.&nbsp;</p>
<p>Donald Trump’s public support for Bitcoin went viral from the beginning of the election campaign in the United States. This can be considered the first time a US Presidential candidate is appearing to address the global Bitcoin community in a crypto event.</p>
<p>At press time, Bitcoin traded at $58,786, and the daily trading volume declined by 8.89% and stood at $25 billion, according to CMC data. Moreover, over the past 24 hours, the spot Bitcoin <a href="https://thenewscrypto.com/us-spot-bitcoin-etfs-see-continued-inflows-as-investors-buy-the-dip/" target="_blank" rel="noopener noreferrer nofollow">ETF</a>s recorded $216 million in total net inflows, according to Sosovalue data.&nbsp;</p>
<h3 class="wp-block-heading" id="h-can-bitcoin-recover-soon">Can Bitcoin Recover soon?</h3>
<p>Bitcoin observed a weekly high at $59,256, and the asset couldn’t pick up a bullish momentum, resulting in a decline to $57K. The BTC Fear and Greed Index stays at 29, hinting at the fear in the market.&nbsp;</p>
<p>Evaluating the BTC price chart, the short-term 9-day moving average (9MA) at $57,679, indicates the slightest bullish trend. Meanwhile, the daily relative strength index (RSI), which stands at 42.46, suggests that the asset is approaching the neutral zone.&nbsp;</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXfdZwJP9sgjqLQ8Eus9a4VpJ0TZVQ0ZyC1FJvswZn0Uye3G3LnbJNegV8wlZ4ffO3t34ydl_gfJLFrVcEYflWLgJkMlDDgbGYutgP68Q3ppaEFmOknedPS3RURJFiAAwhHDE_iuusOcpgjIzDJ0Hy5KeCOi?key=3SdhgAXpAnAk-Zl6Dtc9Cw" alt="">
  <figcaption class="wp-element-caption"><em>BTC Price Chart (Source: <a href="https://in.tradingview.com/symbols/BTCUSD/?exchange=BINANCE" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>)</em>
  </figcaption>
 </figure>
</div>
<p>If the BTC bulls remain strong, the first significant resistance will be $58,999. And the next key resistance level will be found at $59,381. Conversely, if BTC fails to overcome the significant resistance, the price could bottom to a support level of $58,618. A further drop might lead the price to the $58,291 range.</p>
<h3 class="wp-block-heading" id="h-highlighted-crypto-news">Highlighted Crypto News</h3>
<p><a href="https://thenewscrypto.com/is-shiba-inu-shib-set-to-launch-its-own-etf/" target="_blank" rel="noopener noreferrer nofollow">Is Shiba Inu (SHIB) Set to Launch Its Own ETF?</a></p>

Is There Any Possibility To Witness Bitcoin (BTC) Recover Shortly?

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TheNewsCrypto

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