Plunge

Bitcoin

when

The post <a href="https://coinpedia.org/price-analysis/altcoins-plunge-by-over-10-as-bitcoin-btc-price-revisits-66000-heres-what-to-expect/">Altcoins Plunge by Over 10% as Bitcoin (BTC) Price Revisits $66,000: Here’s What to Expect&nbsp;</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
Satoshi’s street is <a href="https://coinpedia.org/price-analysis/why-are-crypto-markets-down-today-is-it-pointing-to-a-massive-crash-heres-what-you-should-know/" target="_blank" rel="noreferrer noopener">undergoing a bloodbath</a> as the interim recovery period appears to have faded off. The BTC price is <a href="https://coinpedia.org/price-analysis/bitcoin-price-begins-to-consolidate-ahead-of-halving-is-this-the-beginning-of-a-bearish-april/" target="_blank" rel="noreferrer noopener">heading close to the lower support around $65,000</a> without any interference from the bulls and as a result, the selling volume has mounted in the crypto space. With this, the altcoins have plunged, while the memecoins and AI tokens have suffered massive plunges. The ongoing pullback does not appear to halt for some more time, due to which the altcoins may remain stuck within a descending consolidation.&nbsp; 
What’s next? Will the markets fall back into the bearish trap ahead of the Bitcoin halving? Will the halving fail to have a positive impact on the markets? 
Historically, contemporary traders who have just begun their trading journey do fall into the FUD trap whenever the markets undergo a pullback. This could be one of the reasons for the ongoing descending trend, but eventually, the markets tend to undergo a massive rebound. The <a href="https://twitter.com/santimentfeed/status/1775034934702510319" target="_blank" rel="noreferrer noopener nofollow">data from Santiment</a> indicates that the trader’s sentiments revolve around buy, buying, bought, and bullish instead of sell, selling, sold, or bearish.&nbsp; 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/-TVRWeljHFQDKGibVVRvxSIsGFmK9TpHAkkvXhSKey7BbmUvCjHNI918f6jTCFrNQ9_75X60cvDJNo228mnGQVM97WGi8tS5h-L99KyMLU0ub3v4FJniI6FXnFRsA94mATwLo-v8Ye6NnciKcNWXT7k" alt="">
</figure> 
The above chart indicates the soaring bullish sentiment of the market participants, as bearish queries remain consolidated below the bullish ones. This indicates that the crowd continues to remain bullish, staying quiet and strong and showing confidence toward the prospects of a quick rebound. The best buying opportunities occur when the crowd consensus is showing a bit of fear toward a further drop. This usually results in small wallets dropping their bags for whales and sharks to scoop them up.&nbsp; 
Currently, the Bitcoin price has dropped below $65,500 after failing to hold the levels around $67,800, which held a liquidity cluster. A drop below these levels appears to have triggered huge liquidity, which has slashed the price below the support. Therefore, now that the crowd is showing a bit of fear toward a further drop, it can be the best buying opportunity.&nbsp;

Altcoins Plunge by Over 10% as Bitcoin (BTC) Price Revisits $66,000: Here’s What to Expect

CoinPedia News

Các bài viết khác được xuất bản trên 2 thg 4, 2024

Bitcoin Price Prepares for a 15% Crash Ahead of Halving: Is This the Beginning of a Bearish April?

Trader who championed Bitcoin at $1 in 2013 has eye on this new AI project

This Crypto Gem Priced at $0.025 Is Expected to Hit $2 When Polygon (MATIC) Reaches $2

Top 12 Crypto Affiliate Programs

BlockDAG Surpasses Solana and Overshadows KELP With Predicted 10,000x Growth and Impressive $11.6...

What Should Be the Bitcoin Trading Strategy for This Week: Sell or Buy?

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!