Market Analysis | ForkLog

ForkLog 11 05.07.2024

Bitcoin Dips Below $54,000 Amid Mt. Gox Movements, Experts Warn of Further Decline

On the morning of July 5, the price of the leading cryptocurrency fell below $54,000 following reports of Mt. Gox coin movements. Hourly chart of BTC/USDT on Binance. Data: TradingView. At the time of writing, the price is attempting to hold this level after a slight rebound. Nobuaki Kobayashi, the trustee of the bankrupt exchange […]

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ForkLog 12 04.07.2024

Bitcoin’s Potential Drop to $50,000 Raises Concerns

A “double top” reversal pattern is forming on the Bitcoin chart. Miners, ETF buyers, and hodlers are selling, with a reversal possible if stablecoin supply increases. Investors continue to bet on ETH-ETF approval by purchasing call options for September-December. A sharp decline in Bitcoin may not stop at $57,000 and could push the price down […]

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ForkLog 14 04.07.2024

Bitcoin’s Decline Dampens Market Sentiment

As digital gold fell below $57,000, the cryptocurrency fear and greed index dropped to 44 points, confirming bearish market sentiment. #crypto market sentiment has turned into fear! pic.twitter.com/HdRK0j52E8 — Ali (@ali_charts) July 4, 2024 At the time of writing, the leading cryptocurrency is trading at $57,800, having fallen 5.5% over the week. 15-minute BTC/USDT chart […]

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ForkLog 7 03.07.2024

QCP Analysts Foresee Potential Bitcoin Rally Resurgence

Despite the price correction of leading cryptocurrencies, the options market remains heavily skewed towards growth. This suggests the possibility of a rally restart by the end of the year, noted analysts at QCP Capital.

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ForkLog 8 03.07.2024

Bitcoin Falls Below $61,000 Again

On the morning of July 3, the leading cryptocurrency dropped from $62,100 to $60,900. Following the release of macroeconomic data, the coin fell by 3% over the day. 15-minute BTC/USDT chart on Binance. Data: TradingView. The market reacted negatively to the release of information on job openings and labour turnover in the US for May. […]

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ForkLog 10 02.07.2024

Bitfinex Analysts: Bitcoin Whales Resume Profit-Taking

Bitcoin holders, who had paused profit-taking in early May, have resumed selling their assets, according to observations by Bitfinex experts.

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ForkLog 12 02.07.2024

Bitcoin ETF Inflows Continue for Fifth Consecutive Day

On July 1, net inflows into spot Bitcoin ETFs reached $129.5 million, according to data from SoSoValue. Over the past five trading days, a total of $266.8 million has flowed into these products, and since approval, the figure stands at $14.65 billion. The total assets under management have approached $54.9 billion. Data: SoSoValue. On July […]

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ForkLog 8 01.07.2024

Bitcoin Faces Resistance at $65,000, Say Experts

The resistance level for Bitcoin’s current rebound could be $65,000. July is typically a strong month for digital gold, but the Mt.Gox factor may be more significant. Upcoming US presidential elections and macroeconomic data could steer the leading cryptocurrency back onto a growth trajectory. To continue its rebound from June lows, Bitcoin must surpass the […]

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ForkLog 18 01.07.2024

NFT Sales Plunge 44% Amid Crypto Market Downturn and Meme Token Surge

The frenzy surrounding meme coins, coupled with a general downturn in the cryptocurrency market in the second quarter, led to a 44% drop in non-fungible token (NFT) sales. This was stated by Apollo Crypto’s Chief Investment Officer Henrik Andersson in an interview with Cointelegraph. According to CryptoSlam, NFT sales volume fell from $4.14 billion in […]

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ForkLog 5 28.06.2024

Bearish Sentiments Hint at Bitcoin’s Potential Bottom

The level of bullish sentiment on X, Reddit, Telegram, 4Chan, and BitcoinTalk has significantly declined, with traders losing confidence in the markets, which could be seen as a factor indicating a local bottom, according to Santiment. ? The level of bullish calls across X, Reddit, Telegram, 4Chan, and BitcoinTalk has dropped significantly as traders have […]

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ForkLog 20 27.06.2024

Mayer Multiple Indicator Suggests Possible Bitcoin Price Floor

The leading cryptocurrency has facilitated a “healthy reset” of bullish sentiment as the Mayer Multiple indicator reached an eight-month low, according to analyst On-Chain Collage. The Bitcoin Mayer Multiple is now at a level not seen since October 2023, despite price at $60.9K now vs. $29.9K back in October. A healthy reset of sentiment to […]

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ForkLog 6 26.06.2024

Inflow Resumes in Spot Bitcoin ETFs After Seven-Day Outflow

On June 25, inflows into BTC-ETFs amounted to $31.01 million, according to SoSoValue. This follows a seven-day period of negative trends during which investors withdrew $1.13 billion. Data: SoSoValue. On June 25, clients withdrew $30.3 million from Grayscale’s GBTC. The situation was balanced by inflows into Fidelity’s FBTC ($48.8 million), Bitwise’s BITB ($15.2 million), and […]

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