Bitcoin fell to $64,000 as a broader risk-off move swept through crypto markets after disappointing technology earnings weighed on equities. The pullback pushed crypto market sentiment back into the Fear zone.
| Cryptocurrency | Ticker | Price |
| Bitcoin | (CRYPTO: BTC) | $64,846.21 |
| Ethereum | (CRYPTO: ETH) | $1,881.19 |
| Solana | (CRYPTO: SOL) | $75.76 |
| XRP | (CRYPTO: XRP) | $1.10 |
| Dogecoin | (CRYPTO: DOGE) | $0.06927 |
| Shiba Inu | (CRYPTO: SHIB) | $0.054108 |
Notable Statistics
- Coinglass data shows 74,657 traders were liquidated in the past 24 hours for $240.79 million.
- SoSoValue data shows net inflows of $68.99 million from spot Bitcoin ETFs on Wednesday. Spot Ethereum ETFs saw net inflows of $72.6 million.
- In the past 24 hours, top gainers include Audiera, Midnight and World Liberty Financial.
Latest Developments
- ‘There Are Dozens of Us Left,’ Analyst Says as Bitcoin Social Interest Crashes to 2018 Levels
- Strategy, BlackRock, Coinbase, Galaxy Pledge $15M to Protect Bitcoin: Here’s Why They’re Worried About 2030
- Has ETH/BTC Bottomed? Bitcoin May Lead for Now, While Ethereum Is ‘Cheaper, Not Capitulated’
- Arthur Hayes’ BitMEX Is Shutting Down After 11 Years: What Went Wrong?
- Anthony Scaramucci: Bitcoin Fear Remains Extreme, But It Will ‘Grind Higher’
- Bitcoin ETF Inflows Near $1 Billion In 7-Day Streak: Is $70,000 BTC The Next Stop?
- Goldman Backs Clarity Act as Democrats Says It ‘Falls Short’ and Warren Says ‘Dead on Arrival’
Trader Notes
Ted Pillows noted Bitcoin trading below its 200-week EMA has historically marked a long-term accumulation zone. If the traditional four-year cycle holds, the market bottom could form in Q4.
However, the analyst notes that major catalysts, such as a potential CLARITY Act approval, could alter the cycle, much like spot Bitcoin ETF approval led to a pre-halving all-time high for the first time.
Analyst and trader Kevin sees Bitcoin’s key support in the $56,000–$44,000 range but questions whether the market will first sweep a major liquidity pocket built over the past two years.
He cautions that seemingly “untouchable” support zones have often been broken before reversals, raising the possibility of one final sharp selloff before Bitcoin’s next major move.
Trader KillaXBT expects Bitcoin to trade in a range for the next one to one-and-a-half months, maintaining that the cycle’s key bottom has already formed around $57,000.
He believes any brief move below that level would likely be bought aggressively. After this consolidation, the outlook calls for a rally toward $80,000, followed by another extended period of sideways trading before the next leg higher.
Image: Shutterstock
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