Bitcoin

Giant

<p>Bitcoin has entered bear market territory, extending its decline to 25% from its ATH as per X crypto news outlet The Kobeissi Letter. The crypto now trades at its lowest level since February 2024. This sharp dip has erased $500B in market cap from the crypto markets over the past month. The drop has had investors wondering if this is a routine pullback or the start of a major bear market.</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: <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> extends decline and enters bear market territory, now down 25% from recent all time high.<br><br>Bitcoin is now trading at its lowest level since February 2024.<br><br>$500 billion of market cap has been erased in crypto markets over the last month.<br><br>Is the party over for… <a href="https://t.co/BRR1Sq1FqA" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/BRR1Sq1FqA</a></p>— The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1809075028605944298?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 5, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<h2 class="wp-block-heading" id="strong-bitcoin-price-analysis-strong"><strong>Bitcoin Price Analysis</strong></h2>
<p>According to The Kobeissi Letter, Bitcoin is down $18K from its peak just a few months ago. Despite this sharp decline, Bitcoin remains up 25% year-to-date. This data presents contradicts: while the recent losses are substantial, the YTD gains suggest some resilience.&nbsp;</p>
<p>The Kobeissi Letter’s tweet emphasizes the gravity of the market cap loss and questions whether the crypto party is over. This sentiment echoes the concerns of many investors who are now re-evaluating their positions.</p>
<p>CryptoBusy raised alarms by <a href="https://x.com/CryptoBusy/status/1809069170254041298" target="_blank" rel="noopener noreferrer nofollow">tweeting about Bitcoin’s critical $56K </a>support level being broken. They explained that if the crypto community cannot rally and buy back at this price, the next support levels would be at $53K, with a major demand zone between $50K and $53K.&nbsp;</p>
<p>This analysis emphasizes the importance of these price levels for Bitcoin’s short-term stability. The breach of the $56K support indicates increased selling pressure and market volatility, further complicating the outlook for Bitcoin investors.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   New Meme Coin to Watch Aiming to be Next $BONK, $WIF or $MEW
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p><strong><a href="https://mileimoneda.io/?utm_source=marketing&amp;utm_medium=inarticle&amp;utm_campaign=cap&amp;utm_id=s1" target="_blank" rel="noopener noreferrer nofollow">Milei Moneda</a></strong> is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president&nbsp;known for his libertarian and pro-Bitcoin stance. You have an opportunity with the <strong><a href="https://mileimoneda.io/?utm_source=marketing&amp;utm_medium=inarticle&amp;utm_campaign=cap&amp;utm_id=s1" target="_blank" rel="noopener noreferrer nofollow">ongoing low presale price</a></strong> to get in early!</p>
    <p><em>Sponsored</em></p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/why-is-the-crypto-market-down-today-33/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Why Is the Crypto Market Down Today?</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-why-bitcoin-price-is-declining-strong"><strong>Why Bitcoin Price is Declining</strong>&nbsp;</h2>
<p>The bearish momentum in the crypto market stems from several key factors, <a href="https://captainaltcoin.com/second-largest-bitcoin-btc-price-collapse-in-history-just-happened-but/" target="_blank" rel="noopener noreferrer nofollow">as Captain Altcoin reported earlier</a>. The German government has initiated a massive selling of seized Bitcoin, amounting to $3.5B. This liquidation has placed considerable downward pressure on the market, contributing to the overall bearish trend.</p>
<p>Moreover, Mt. Gox exchange begun repaying its creditors, with a total of $8.5B slated for distribution. This development has sparked concerns within the crypto community, as many fear these creditors will quickly sell their newly acquired Bitcoin holdings.&nbsp;</p>
<p>The sharp Bitcoin decline and breach of key support levels indicate bearish momentum. However, some analysts believe that Bitcoin could still rebound, given its YTD gains.</p>
<p>The $500B market cap erosion in the past month undoubtedly has had some impacts on BTC, such large-scale sell-offs drive panic into the market affecting the general sentiment.&nbsp;</p>
<p><em><strong>Captain just hit his first 100x among a lot 2-5xs. Want to be a part of a profitable community?<br>Get all our future calls by joining our&nbsp;<a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/REBEL-SATOSHI-RECQ-MEME-COIN-qndahijqjwle5mml7gg8my30uqig0eo11vxmtat25a.png" width="500" alt="Check $RECQ Meme Coin" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-recq-meme-coin-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check $RECQ Meme Coin</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy RECQ Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Serves as the base currency for all transactions within the Rebel Satoshi platform <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>ICO stage, offering tokens at a discounted price <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade, <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/bitcoin-btc-plunges-25-from-ath-500b-wiped-out-as-crypto-giant-hits-2024-low-is-this-the-end-of-the-bull-run/" rel="noopener noreferrer nofollow">Bitcoin (BTC) Plunges 25% from ATH: $500B Wiped Out as Crypto Giant Hits 2024 Low – Is This the End of the Bull Run?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bitcoin (BTC) Plunges 25% from ATH: $500B Wiped Out as Crypto Giant Hits 2024 Low – Is This the End of the Bull Run?

目录

CaptainAltcoin

发布于 2024年7月5日的其他文章

METALSWAP RELEASE : XMT AIRDROP

This Crypto Cycle Could Be A Washout For BNB, XRP, and DOGE as Investors Look Toward New Altcoins...

The REAL Bull Market May Start After Current Correction - How Far Altcon Prices Will Go?

Cryptocurrency Hedera Down More Than 4% Within 24 hours

Ethereum Faces Significant Decline

Coinbase Sues SEC for Email Transparency: Gensler’s Communications Key to “Fair Notice” Debate

订阅我们免费的电子期刊，获取每日最新加密领域动态！