Bitcoin

Drops

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-sell-bitcoin-as-price-drops-below-68000/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Sell Bitcoin as Price Drops Below $68,000</a><br></p>
<p style="text-align: justify">A few minutes before the US markets opened, <a href="https://en.coin-turk.com/will-bitcoin-btc-be-able-to-maintain-its-strong-position-against-the-dollar/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>‘s price exceeded $70,000 but has now fallen below $68,000. The price dropped rapidly and accelerated its decline about half an hour ago after a brief pause. Despite <a href="https://finance.coin-turk.com/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">investors</a> being hopeful due to Trump’s statements and strong volume in the ETF channel, sales were stronger.</p>
<h2 style="text-align: justify" id="why-is-bitcoin-dropping">Why is Bitcoin Dropping?</h2>
<p style="text-align: justify">There is a classic trend before every Fed meeting. Investors’ risk appetite for BTC and altcoins weakens. Although signals for a discount in September are expected for this meeting, investors are anxious. Another reason for the anxiety is that Mt. Gox still holds $5 billion worth of BTC.</p>
<p style="text-align: justify"><img fetchpriority="high" decoding="async" class="size-full wp-image-374964 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/BTCUSDT_2024-07-29_18-09-17.png" alt="" width="1815" height="836"></p>
<p style="text-align: justify">Investors who made significant short-term gains assumed that $70,000 would not be easily surpassed and thus turned to selling. We saw this in the rapid profit-taking during today’s $70,000 test. In the past, those trying to profit from such volatile movements were caught off guard by large upward candles, but BTC has not managed this for weeks.</p>
<p style="text-align: justify">Sales deepening to $66,000 could trigger larger losses in already struggling altcoins. The safe zone for BTC is $68,200.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/investors-sell-bitcoin-as-price-drops-below-68000/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Sell Bitcoin as Price Drops Below $68,000</a></h5>
<p>The post <a href="https://en.coin-turk.com/investors-sell-bitcoin-as-price-drops-below-68000/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Sell Bitcoin as Price Drops Below $68,000</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Investors Sell Bitcoin as Price Drops Below $68,000

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