All articles tagged with #price correction
Gold prices declined for a third consecutive day, approaching $4,000 an ounce, amid investor concerns over market overheating, significant ETF outflows, and ongoing US-China trade negotiations, with the metal still up 55% this year due to safe-haven demand and geopolitical tensions.
Bitcoin recently hit an all-time high of $111,900 but experienced a correction below $110,000. Despite the pullback, analysts suggest the bullish trend remains intact, supported by a strong correlation between Bitcoin's price and the global M2 money supply, which is at a new high. Market sentiment remains cautious, but data indicates potential for further gains toward $130,000 if the trend continues.
Ethereum's open interest has reached a record high of over $17 billion, indicating increased trader activity and potential market optimism. However, historical patterns suggest that such spikes in open interest often precede price corrections, as seen in past instances. While Ethereum's exchange reserves and stochastic indicators hint at potential selling pressure, the Relative Strength Index (RSI) suggests there may still be room for upward movement. If a correction occurs, Ethereum's price could drop to around $3.38k.
Bitcoin prices have experienced a sharp decline, dropping from nearly $100,000 to around $90,000, wiping $200 billion from the crypto market. This downturn follows a rally after Donald Trump's election victory, which is expected to ease crypto regulations. Crypto billionaire Michael Novogratz predicts a potential drop to $80,000 before a rebound, while Dan Morehead of Pantera suggests a long-term rise to $740,000 by 2028. The market remains volatile, with traders closely monitoring price momentum and geopolitical influences.
Bitcoin's recent price drop to $92,774 is attributed to long-term holders, or 'hodlers,' rather than institutional investors or ETFs. Despite significant purchases by figures like Michael Saylor, the price did not rise due to internal sell-offs by these hodlers. Onchain data indicates that while ETFs absorbed much of the selling pressure, the correction is seen as potentially beneficial for the market's sustainability. Analysts still anticipate Bitcoin reaching $100,000, although the market's leverage remains high.
Solana (SOL) has reached a new milestone with a 20% price increase, pushing its market capitalization dominance to an all-time high of 3.8%. This surge has sparked speculation about the onset of a new altcoin season, although the Altcoin Season Index remains at 37, indicating a Bitcoin-favored market. Despite this, a decline in Bitcoin's dominance to 55.7% suggests potential for altcoins to gain traction. However, Solana's RSI indicates it is overbought, suggesting a possible price correction.
Bitcoin's price has surged over 12% in the past week, crossing the $60k mark and hinting at a retest of its all-time high (ATH). However, a significant rise in liquidation at $72.3k could lead to a price correction. Metrics indicate increased selling pressure and potential short-term corrections, despite bullish signals like the Relative Strength Index (RSI) and Bitcoin's Rainbow Chart suggesting a "BUY" phase.
Bitcoin has surged to $71.1k, but faces resistance at $71.4k. While network fundamentals remain strong, metrics like the Net Unrealized Profit/Loss and Network Value to Transactions suggest potential overvaluation and a possible correction. Investors are debating whether to book profits or continue holding, as historical patterns indicate sharp retracements during bull runs.
Bitcoin's recent 6.8% drop is linked to Open Interest (OI) surpassing $13 billion, historically leading to significant market corrections. The surge in OI to $17.7 billion on March 28th preceded the recent losses, prompting speculation on whether BTC will recover or trend downward. High OI levels attract volatility due to liquidity, with short-term bullish reversal potential indicated by liquidation charts. Short liquidations outnumber long ones, suggesting potential price rally to levels like $68.2k, $69.6k, and $70.3k. The $60.6k and $74k-$74.6k zones are key areas of interest, with the Bitcoin halving event expected to bring more volatility before a true bull run.
Bitcoin experienced a 15% correction from its all-time high of $73,700 as miners, whales, and large investors sold their BTC to realize profits, leading to an overheated-bull phase flagged by the Bull-Bear Market Cycle Indicator. Despite the correction, analysts at CryptoQuant believe the bull cycle is not over, citing valuation metrics and investment flows that are not yet at levels consistent with past market tops. Large short-term holders' cost basis is at the $58,000-$60,000 level, and around 48% of Bitcoin investments currently come from short-term holders, indicating that the bull cycle top has not been reached.
Short-term holders of Bitcoin (STH) play a crucial role in the cryptocurrency market, with nearly 50% of Bitcoin’s realized capitalization currently in their hands. Their behavior, as observed through on-chain analysis, has historically correlated with BTC price movements. Analysts suggest that if Bitcoin's ongoing correction leads to the area of the realized STH price, Bitcoin could reach the $55,000 mark, representing a 25% drop from its current all-time high. However, even such a deep correction would not disrupt the structure of the long-term bull market, unless it leads to a loss of support and deeper declines triggering a medium-term bear market.
Bitcoin's recent attempts to breach the $70,000 mark have led to speculation about its next price trajectory, with trading expert Alan Santana outlining potential correction targets at $61,000, $53,500, $47,135, $40,200, and $33,525. Despite forecasting a temporary downturn, Santana sees it as a healthy market adjustment and foresees substantial growth for the cryptocurrency market in 2024 and 2025. Bitcoin's current value is at $66,940, with challenges in reclaiming the $70,000 mark partly attributed to significant outflows from certain spot exchange-traded funds. Maintaining valuation above $60,000 remains crucial, as a drop below this level could signal further correction.
Crypto analyst Rekt Capital warns that Bitcoin is approaching a historical "danger zone" in its market cycle, typically leading to significant price retracements, as the BTC halving event approaches in mid-April. Despite being halfway through the pre-halving rally, potential dips and reaccumulation periods are expected, with BTC currently trading at $69,572. Investors are advised to conduct due diligence before making high-risk investments in Bitcoin or digital assets.
Analyst Michaël van de Poppe warns of a potential 40% correction in Bitcoin's price before it reaches $150,000, citing market sentiment overshooting reality and the potential impact of macroeconomic events. Short-term traders are advised to exercise caution during rapid price appreciation, while long-term investors may find the correction an attractive buying opportunity. Poppe emphasizes the importance of strategic investing and risk management, urging investors to stay informed about broader economic trends.
Bitcoin's price has experienced a 5% drop in the last 24 hours, trading at $41,645, indicating a healthy correction. On-chain data and technical indicators suggest that Bitcoin still exhibits strength, with bulls aiming to push the price above $44,000. However, data analysis firms have highlighted exhaustion among bulls, indicating the need for a correction or slowdown. Bitcoin faces strong resistance at the $44,000 level, with on-chain data showing a significant number of sellers in that range. Despite the correction, Bitcoin's exchange outflows are increasing, suggesting a bullish sentiment among investors. Technical indicators and moving averages support the continuation of the upward trend, with buyers targeting a break above $44,000 and a potential rise to $50,000 in the near future.