Bitcoin Weekly Forecast: BTC liquidates $300 million positions as it slips below $20,000, is the crash done?
Bitcoin price witnessed a steep correction that has knocked it below a key psychological level. The massive sell-off caused $303 million worth of liquidations in the last 24 hours as traders were caught off guard. But the long-term outlook shows that BTC is right where it should be. There is a chance for a recovery rally to originate, but investors should not hold their breath.
Dogecoin, Shiba Inu and Dogelon Mars continue bleeding as crypto market braces itself for FTX-like collapse
Shiba-Inu-themed meme coins Dogecoin (DOGE), Shiba Inu (SHIB) and Dogelon Mars (ELON) are bleeding alongside large market capitalization assets like Bitcoin and Ethereum. Amidst the rising uncertainty with the voluntary liquidation of crypto-friendly Silvergate bank and macroeconomic outlook, the overall crypto market cap has declined to $946 billion.
Cardano Price Forecast: ADA eyes 13% drop as crypto markets buckle under bearish pressure
Cardano (ADA) price is seeing its most important audience leaving price action at large. Medium-term investors are heading for the exit as several dark clouds form above the cryptocurrency industry. Already two banks have collapsed in the US. The uncertainty is making investors choose cash instead of leaving it at risk in Cardano.
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Ethereum has lost its “ultra” sound money status, faces key rectangle resistance hurdle
Ethereum is up 0.5% on Thursday following a recent analysis showing that the top altcoin lost its "ultra" sound money narrative. Meanwhile, ETH ETFs recorded net inflows for the first time after nine days of consecutive outflows.
Solana bears dominate market as SunPump has potentially led to less demand for SOL
Solana is down 2.5% on Thursday following bearish signals across its funding rate and total fees captured. SOL's weak performance could also be linked to the declining traction seen in its meme coin generation platform Pump.fun.
AI tokens see narrow gains as Wall Street banks raise price targets on NVDA
AI tokens NEAR, ICP, RENDER and TAO briefly traded in the green on Thursday following Wall Street banks' positivity toward Nvidia's earnings report. While a correction followed, these tokens could rally if NVDA meets expectations.
XRP back above $0.57 even as Ripple traders take $8 million in profits
Ripple (XRP) traders have consistently taken profits on their holdings in the last two weeks, per Santiment data. Once again, traders have grabbed $8.36 million in profit so far on Thursday. Typically, profit-taking negatively influences the asset as it increases the selling pressure.
Bitcoin: Will BTC continue its ongoing decline?
Bitcoin (BTC) trades above $59,000 on Friday, but it has lost 7.5% this week so far after being rejected around the daily resistance of $65,000. The decline is supported by lower demand from the US spot Bitcoin ETFs, which registered a net outflow of $103.8 million, falling Bitcoin's Coinbase Premium Index, and a spike in Network Realized Profit/Loss. However, some investors seem to be taking the chance to buy BTC amid this price dip, as shown by the Exchange Netflow data.
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