2024

Donald Trump

Bitcoin

<p>The post <a href="https://coinpedia.org/news/bitcoin-btc-price-drop-is-60k-the-new-target-as-bearish-pressure-mounts/" rel="noopener noreferrer nofollow">Bitcoin (BTC) Price Drop: Is $60K the New Target as Bearish Pressure Mounts?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Following a strong start to the week, Bitcoin, the top cryptocurrency by market capitalization, has experienced a notable drop. Currently <a href="https://markets.coinpedia.org/bitcoin/" rel="noopener noreferrer nofollow">priced at $66,568</a>, Bitcoin has fallen by 3.83% in the last 24 hours, with a slight decline of 0.25% over the past week. This recent dip may be linked to the U.S. government’s transfer of $2 billion worth of Bitcoin from Silk Road.&nbsp;</p>
<p>Meanwhile, Veteran crypto trader Roman Trading predicts that Bitcoin could potentially drop further to $60,000 from its current level.</p>
<h2 class="wp-block-heading" id="h-btc-to-fall-to-60k">BTC To Fall To $60K</h2>
<p>According to Roman Trading, Bitcoin is showing signs of bearish divergence on its 1-day chart, which suggests a possible double-top reversal. This divergence happens when the price reaches new highs, but momentum indicators like RSI or MACD do not follow suit.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> 1D<br><br>Eyeing price targets of 64 &amp; 60k respectively.<br><br>Showing bear divs with a possible DT reversal setup.<br><br>My bet is sentiment gets ultra bearish at these levels then we full send up once again.<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/hashtag/cryptocurrency?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#cryptocurrency</a> <a href="https://twitter.com/hashtag/cryptonews?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#cryptonews</a> <a href="https://t.co/YWPA6kPRoY" rel="noopener noreferrer nofollow">pic.twitter.com/YWPA6kPRoY</a></p>— Roman (@Roman_Trading) <a href="https://twitter.com/Roman_Trading/status/1818069385313141182?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 29, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>However, such a pattern often indicates that the upward trend is losing strength and could lead to a reversal. The mention of a double-top setup highlights the chances of Bitcoin peaking before experiencing a downward correction.&nbsp;</p>
<p>Roman Trading suggests that sentiment might become <a href="https://coinpedia.org/news/why-is-bitcoin-price-down-today-another-crypto-crash-looming/" rel="noopener noreferrer nofollow">extremely bearish as Bitcoin</a> saw a sudden drop from $69,811 to $66,842, a decline of nearly $3,000 in the last 24 hours.&nbsp;</p>
<p>Although, the trader predicts that Bitcoin could fall further if it fails to hold the resistance level at $66,000. The next key levels to watch are $64,000, and potentially $60,000.</p>
<h2 class="wp-block-heading" id="h-us-government-moves-2-billion-btc">US Government Moves $2 Billion BTC</h2>
<p>The recent drop in Bitcoin’s price might be linked to recent actions by the U.S. government. On Monday, the government transferred $2 billion worth of seized Bitcoin, causing a significant market impact.</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">BREAKING:<br><br>The US. Government just moved $2B of Bitcoin to a new address:<br><br>bc1qsl993y04xnq4fyhmrt6cnmctgjjv9ukdvrk0cd <a href="https://t.co/JQvjKIuRNn" rel="noopener noreferrer nofollow">pic.twitter.com/JQvjKIuRNn</a></p>— Arkham (@ArkhamIntel) <a href="https://twitter.com/ArkhamIntel/status/1817962145985724629?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 29, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>This move came just two days after presidential candidate <a href="https://coinpedia.org/news/bitcoin-to-hit-ath-after-donald-trump-bitcoin-conference-2024-speech/" rel="noopener noreferrer nofollow">Donald Trump announced plans</a> to acquire Bitcoin (BTC).</p>
<p>The wallet holding 29,800 BTC was first moved to a new address with no previous transactions. This new address acted as an intermediary, forwarding 19,800 BTC to another address. Meanwhile, 10,000 BTC, valued at approximately $670 million, was sent to a third address.</p>
<h2 class="wp-block-heading" id="h-a-ray-of-hope">A Ray Of Hope</h2>
<p>Despite the bearish signs, Roman Trading is still positive about Bitcoin’s future. If the market becomes too negative, it might help set up a big price increase, as overly worried traders could create the right conditions for a rally.</p>

Bitcoin (BTC) Price Drop: Is $60K the New Target as Bearish Pressure Mounts?

Table of Contents

CoinPedia News

Другие статьи, опубликованные 30 июл. 2024 г.

Cumberland liquidity provider deposits 10K Ethers to exchanges

Blinks, AI, Ignition: Bybit's Star-Studded Livestream to Set Web3 on Fire (30 Jul)

BREAKING: New Bitcoin Bill in the US Includes Revaluing of the FED’s Gold to Create a Strategic B...

Ex SwissOne Capital Brain Antony Turner Revealed As CEO Behind BlockDAG; More on Cosmos’ Dip and ...

Filecoin Faces Decline in Buying Pressure

Altcoin Season Faces Challenges Despite Market Movements

Join our free newsletter for daily crypto updates!