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Bitcoin Faces Major Decline, Potential Drop to $40,000
Bitcoin (BTC) has experienced a dramatic fall, dropping over 16% in the last 24 hours and breaking below the crucial $57,000 support level. This sudden decline has raised alarms in the crypto community, with experts now predicting a potential drop to $40,000.
According to leading on-chain data and analytics provider CryptoQuant, this breach of support signals a troubling trend. The recent drop has pushed traders into their most negative unrealized profit margins since November 2022.
#Sanore016
Bitcoin (BTC) has experienced a dramatic fall, dropping over 16% in the last 24 hours and breaking below the crucial $57,000 support level. This sudden decline has raised alarms in the crypto community, with experts now predicting a potential drop to $40,000.
According to leading on-chain data and analytics provider CryptoQuant, this breach of support signals a troubling trend. The recent drop has pushed traders into their most negative unrealized profit margins since November 2022.
#Sanore016
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Altcoins and Bitcoin will rise to 85K and from here until the end of June - early July....this coincides with TOTAL3 reaching 900B - 1T.
- There will be a strong correction for the entire market and Bitcoin will return to 72k and TOTAL3 to 700B - 730B. - In the period between August and October, Bitcoin will rise on its own and altcoins will rise slightly
- Trump wins the US election and remember what he said two days ago about cryptocurrencies and that will bring a lot of positives to the market.
#Sanore016
- There will be a strong correction for the entire market and Bitcoin will return to 72k and TOTAL3 to 700B - 730B. - In the period between August and October, Bitcoin will rise on its own and altcoins will rise slightly
- Trump wins the US election and remember what he said two days ago about cryptocurrencies and that will bring a lot of positives to the market.
#Sanore016
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It happened in America, the simultaneous fall of Bitcoin and Ethereum ETFs
Bitcoin and Ethereum exchange-traded funds in the US recorded joint exits for the first time on August 2, 2024.
Homan Jafari; Secretary of Digital Currency Service: 11 Bitcoin funds in the United States experienced a net outflow of $237.4 million at the end of the trading day on Friday, August 2nd. This is the largest outflow from these investment products since the beginning of May, when outflows were $563.8 million. The biggest outflows of the day came from Fidelity Fund, which took out $104.1 million, followed by Arc Fund, which took out $87.7 million.
Homan Jafari; Secretary of Digital Currency Service: 11 Bitcoin funds in the United States experienced a net outflow of $237.4 million at the end of the trading day on Friday, August 2nd. This is the largest outflow from these investment products since the beginning of May, when outflows were $563.8 million. The biggest outflows of the day came from Fidelity Fund, which took out $104.1 million, followed by Arc Fund, which took out $87.7 million.
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According to Rokna, Ethereum, the second most popular token, decreased by 2.01% compared to yesterday and is currently trading at the price of $2,903.51.
#Sanore016
#Sanore016
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Bitcoin (abbreviated: BTC; symbol: ₿) is a decentralized digital currency without a central bank or single administration that can be sent peer-to-peer through the Bitcoin network without the need for an intermediary. ] Transactions are cryptographically verified by a network and recorded in a public distributed ledger called a blockchain. This cryptocurrency was invented in 2008 by an unknown person or group named Satoshi Nakamoto.
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