2024

Bitcoin

The Bitcoin price is down a fraction in the past 24 hours to trade for $65,241 as of 00:46 a.m. EST on trading volume that dipped 46%.
It points to dwindling conviction among traders, causing a lack of market participation and interest in BTC at the moment.
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 After the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> halving in 2020 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> ranged 150 days in a boring price range between $9,000-$11,000
 We are currently 60 days after the halving and people are deeply depressed about the price action
 Every cycle again <a href="https://t.co/x2gfIFEtMT" rel="noopener noreferrer nofollow">pic.twitter.com/x2gfIFEtMT</a>
 — Quinten | 048.eth (@QuintenFrancois) <a href="https://twitter.com/QuintenFrancois/status/1803379352878367203?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 19, 2024</a>
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Meanwhile, analysts from CryptoQuant observe that BTC whales and miners have sold more than one billion worth of Bitcoin in the past two weeks.
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 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> long-term holder whales sold $1.2B in the past 2 weeks, likely through brokers.
 ETF netflows are negative with $460M outflows in the same period.
 If this ~$1.6B in sell-side liquidity isn't bought OTC, brokers may deposit <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> to exchanges, impacting the market. <a href="https://t.co/oYeKsRqKeF" rel="noopener noreferrer nofollow">pic.twitter.com/oYeKsRqKeF</a>
 — Ki Young Ju (@ki_young_ju) <a href="https://twitter.com/ki_young_ju/status/1803137868254343450?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 18, 2024</a>
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The report also highlights weak buying interest, noting, “Traders are still not increasing their Bitcoin holdings and large holders’ (whales) demand growth is still missing strength.”
The selling coincides with net outflows from US-listed bitcoin ETFs in the same period, data shows.
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 Jun 19 Update:
 9 ETFs decreased 442 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>(-$28.7M).<a href="https://twitter.com/hashtag/Grayscale?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Grayscale</a> decreased 56 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>(-$3.6M) and currently holds 280,322 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($18.22B).<a href="https://t.co/Cm7cgD2Fd3" rel="noopener noreferrer nofollow">https://t.co/Cm7cgD2Fd3</a> <a href="https://t.co/9FAhxDPRR5" rel="noopener noreferrer nofollow">pic.twitter.com/9FAhxDPRR5</a>
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1803455824309920243?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 19, 2024</a>
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The <a href="https://t.co/W9xCjmQaJ4" target="_blank" rel="noopener noreferrer nofollow">CryptoQuant report</a> explored three key reasons behind the slump, and cited miner capitulation, reduced stablecoin issuance, and substantial outflows from ETFs.
Miner capitulation refers to miners selling their Bitcoin holdings due to declining profits. Lower stablecoin issuance restricts market liquidity, amplifying price drops. Significant ETF outflows signal that investors are offloading their Bitcoin investments.
<h2 id="bitcoin-price-prediction-as-btc-coils-up-within-the-golden-zone">Bitcoin Price Prediction As BTC Coils Up Within The Golden Zone</h2>
The Bitcoin price is trading with a bearish bias, recording a series of lower highs over the past two weeks. As it stands, it is sitting on immediate support due to the 50% Fibonacci placeholder at $65,128, and neck-deep in the Golden Zone.
The market is leaning in favor of the bears, seeing, as buyer momentum is week as the Relative Strength Index (RSI) is below the mean level of 50. The Moving Average Convergence Divergence (MACD) indicator is also in negative territory below the signal line, accentuating the bearish thesis.
If selling pressure increases, the Bitcoin price could test the critical support at $64,000, which marks the lower low of the Tuesday trading session. In a dire case, a drop to the most critical Fibonacci retracement level of $61.8% could follow, below which the downtrend would be solidified for the short term.
<a href="https://insidebitcoins.com/wp-content/uploads/2024/06/b.png" rel="noopener noreferrer nofollow"><img decoding="async" class="aligncenter wp-image-537971 size-full" src="https://insidebitcoins.com/wp-content/uploads/2024/06/b.png" alt="Bitcoin" width="1366" height="768" srcset="https://insidebitcoins.com/wp-content/uploads/2024/06/b.png 1366w, https://insidebitcoins.com/wp-content/uploads/2024/06/b-300x169.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/06/b-1024x576.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/06/b-768x432.png 768w" sizes="(max-width: 1366px) 100vw, 1366px"></a>
<a href="https://www.geckoterminal.com/eth/pools/0xcbcdf9626bc03e24f779434178a73a0b4bad62ed" target="_blank" rel="noopener noreferrer nofollow">GeckoTerminal: BTC/USD 1-day chart</a>
On the other hand, if bullish momentum sustains and the $65,128 support level holds, the Bitcoin price could pivot around it for a change in directional bias. In such a case, only a candlestick close above the 23.6% Fibonacci retracement level of $69,595 would vindicate the Bitcoin price from the hands of the bears.
Traders looking to take new long or short positions for BTC should therefore wait for a decisive escape from the Fibonacci Golden Zone. The key Fibonacci retracement levels within the Golden Zone typically include 38.2%, 50%, and 61.8%. These levels are derived from the Fibonacci sequence and are believed to represent potential areas where an asset’s price may reverse or consolidate before continuing in its previous direction.
Meanwhile, as the Bitcoin price works out its next move within the Golden Zone, crypto YouTuber TodayTrader suggests looking at 99BTC, a new learn-to-earn crypto that is a long-established educational platform.
<iframe title="New Prelaunch 99Bitcoins Learn 2 Earn On BRC-20 - Early Buyers Become Millionaires (HUGE POTENTIAL)" width="640" height="360" src="https://www.youtube.com/embed/fqz4Dt085rQ?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
<h2 id="strong-promising-alternative-to-bitcoin-strong">Promising Alternative To Bitcoin</h2>
<a href="https://insidebitcoins.com/visit/99bitcoins" target="_blank" rel="noopener noreferrer nofollow">99Bitcoins</a> boasts best-in-class educational resources and visual learning courses for crypto beginners, and has one of the most trusted names in crypto circles.
The project, which traces back to 2013, is now unveiling its new Learn-to-Earn rewards model. 99Bitcoins will reward individuals for learning about cryptocurrency.
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 Since 2014, $99BTC has been at the forefront of <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Crypto</a> education.💡
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 Get started: <a href="https://t.co/NXD7DAamqr" rel="noopener noreferrer nofollow">https://t.co/NXD7DAamqr</a><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> <a href="https://t.co/lJjLgkgVI2" rel="noopener noreferrer nofollow">pic.twitter.com/lJjLgkgVI2</a>
 — 99Bitcoins (@99BitcoinsHQ) <a href="https://twitter.com/99BitcoinsHQ/status/1787105033789538619?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 5, 2024</a>
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It incentivizes learning through a unique mix of gamification and a leaderboard reward system. This ensures users feel like their learning is producing tangible benefits. Put simply, you earn crypto while learning about crypto.
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 Revolutionizing <a href="https://twitter.com/hashtag/Learn2Earn?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Learn2Earn</a>! 📘
 🎓 Why It’s the Future:
 With the $99BTC Token, you can earn rewards simply by expanding your <a href="https://twitter.com/hashtag/Cryptocurrency?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Cryptocurrency</a> knowledge.
 The Numbers: 🔢
 – 79 hours of Courses – 709K Followers – 2.85M Subscribers
 Take a look: <a href="https://t.co/NXD7DAamqr" rel="noopener noreferrer nofollow">https://t.co/NXD7DAamqr</a><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> <a href="https://t.co/rtBrEJjaZA" rel="noopener noreferrer nofollow">pic.twitter.com/rtBrEJjaZA</a>
 — 99Bitcoins (@99BitcoinsHQ) <a href="https://twitter.com/99BitcoinsHQ/status/1787063963382939801?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 5, 2024</a>
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You can also stake your 99BTC holdings for rewards as high as 757% annually. So far, upwards of 1.4 billion tokens have been staked.
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 Short on time? Simply stake your $99BTC tokens on our website and earn passive rewards effortlessly!
 Join now! 👉 <a href="https://t.co/nA4Lw89WA0" rel="noopener noreferrer nofollow">https://t.co/nA4Lw89WA0</a><a href="https://twitter.com/hashtag/99Bitcoins?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#99Bitcoins</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Crypto</a> <a href="https://twitter.com/hashtag/Presale?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Presale</a> <a href="https://twitter.com/hashtag/Alts?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Alts</a> <a href="https://t.co/av0mkMvIbR" rel="noopener noreferrer nofollow">pic.twitter.com/av0mkMvIbR</a>
 — 99Bitcoins (@99BitcoinsHQ) <a href="https://twitter.com/99BitcoinsHQ/status/1781322130325430669?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 19, 2024</a>
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Presale sales have already zoomed past $2.2 million.
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 🎉 Exciting milestone alert! 🎉
 We have now raised over $2.2 MILLION in our $99BTC presale! 🚀
 Secure your spot now before the <a href="https://twitter.com/hashtag/Presale?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Presale</a> price increases! 👀
 Don’t miss out—get started today! 👉 <a href="https://t.co/NXD7DAamqr" rel="noopener noreferrer nofollow">https://t.co/NXD7DAamqr</a><a href="https://twitter.com/hashtag/99Bitcoins?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#99Bitcoins</a> <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Crypto</a> <a href="https://twitter.com/hashtag/L2E?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#L2E</a> <a href="https://t.co/xQC6lg0euI" rel="noopener noreferrer nofollow">pic.twitter.com/xQC6lg0euI</a>
 — 99Bitcoins (@99BitcoinsHQ) <a href="https://twitter.com/99BitcoinsHQ/status/1802644880918737115?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 17, 2024</a>
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99BTC tokens are currently priced at $0.0011, but a price increase is due in less than five days.
<a href="https://insidebitcoins.com/visit/99bitcoins" target="_blank" rel="noopener noreferrer nofollow">Buy 99BTC tokens on the official website here</a>.
<h3 id="also-read">Also Read:</h3>
<ul>
 <li><a href="https://insidebitcoins.com/buy-cryptocurrency/99bitcoins-price-prediction" rel="noopener noreferrer nofollow">99Bitcoins Price Prediction – $99BTC Profit Potential in 2024</a></li>
 <li><a href="https://insidebitcoins.com/news/99bitcoins-launches-new-learn-to-earn-airdrop-presale-todaytrader-video-review" rel="noopener noreferrer nofollow">99Bitcoins Launches New Learn-to-Earn Airdrop Presale – TodayTrader Video Review</a></li>
 <li><a href="https://www.linkedin.com/pulse/best-penny-crypto-investments-top-picks-explosive-growth-calsona-j8nhe" rel="noopener noreferrer nofollow">Best Penny Crypto Investments: Top Picks for Explosive Growth in 2024!</a></li>
</ul>

Bitcoin Price Outlook: CryptoQuant Reports $1B BTC Whale Sell-Off, While This Learn-To-Earn ICO Surges Towards $3M

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