Bitcoin: Investors are currently seeing red. (Photo: Freepik, User31947721)
The correction at Bitcoin (BTC) and cryptocurrencies such as Ethereum (Eth), Solana (Sol) or Dogecoin (Doge) intensifies. Even financial giant Blackrock is now getting out. Our forecast: does the $ 70,000 mark-or does Bitcoin go to a course disaster?
Bitcoin falls on a new annual low
At Bitcoin, the beams bend, it groans and groans in the crypto jungle: whether BTC, ETH, SOL, ADA or XRP-all cryptocurrencies fall without exception, sometimes in the high 2-digit percentage range. Bitcoin, for example, had to Bittering 19.31 percent lostAs a result of this, a new annual low of $ 78,411. In the meantime, the bulls were able to give the course a minimal recovery – up to $ 80,053, where BTC is currently trading. However, the air is out: liquidity is lacking, there is no trust.
“Extreme Angst” shows the “Crypto Fear & Greed Index”, which is probably a tool -related tool for analyzing the mood among investors. In addition, act like a fire accelerator High sales by black rockthe world’s largest financial administrator ($ 11.6 trillion managed assets, as of the 4th quarter of 2024). The crypto whale has just brought more than $ 500 million in assets-including $ 441 million in Bitcoin and $ 71.85 million in Ethereum. Possible causes: Strategic asset management or rebalancing-market printing and liquidations of $ 1.6 billion probably also add the New York-based large investor. Right in the middle: the small investor.
Altcoins on the abyss: Ethereum fights for $ 2,000 brands
The horrendous losses drive the majority of digital assets to new low -levels – and only a few strike here. In this market environment, Bitcoin also tears down the old coins. Only Ethereum (ETH) falls all by itself, is independently weak, as well as Complete the renowned financial analysts of “The Kobeissi Letter”. “Ethereum has now lost a quarter of its value in the past four weeks,” said the industry observers incredulously. The second-value cryptocurrency has a weekly loss of 23.28 percent, this is a whopping 56.19 percent below the all-time high of $ 4,891. Current price: $ 2,136.
Top chart strategist Jason Pizzino warns: “Ethereum could be in greater difficulties than expected if it closes under the area of $ 2,000 $ 2,100 and does not recover quickly above this price level.” Is the Smart Contract platform a new record low over the weekend?
Many other old coins also walk dangerously close to the abyss. The Solana crypto tour raydium (Ray, minus 55.93 percent!), Bittensor (Tao, minus 34.11 percent) and Official Trump (Trump, Minus 33.01 percent), Memecoin Donald Trump, is currently the hardest. Should his launch possibly mark the climax of the crypto rally, How to speculate some analysts? So does it only go down further down – does Bitcoin fall below $ 70,000? Or could the reset to buy? What development for forecasts?
Forecast: Does Bitcoin stay over $ 70,000?
Word has now been around: corrections of up to minus 40 percent are normal in Bitcoin bull markets. Each housese of the past few years was characterized by multiple, intensive reset – accompanied by concern, this time it was finally over. However, every time Bitcoin was able to initiate a recovery and mark new highs. There is no reason to assume that it will be different this time.
The technical analysis suggests: one last diving below $ 78,000 is on the cards. After that: it goes up just as quickly as before. Top analyst Michael van de Poppe confirms in a forecast: “Given the extreme downward movement, a quick upswing is likely today/tomorrow.” Until then, convinced Bitcoin investors continue to offer attractive purchase opportunities.
Disclaimer:
The author and/or connected persons or companies have cryptocoins, including bitcoins. This article represents an expression of opinion and no investment advice.