{"id":14964,"date":"2024-07-04T16:11:31","date_gmt":"2024-07-04T13:11:31","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoins-decline-dampens-market-sentiment\/"},"modified":"2024-07-04T16:11:31","modified_gmt":"2024-07-04T13:11:31","slug":"bitcoins-decline-dampens-market-sentiment","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitcoins-decline-dampens-market-sentiment\/","title":{"rendered":"Bitcoin&#8217;s Decline Dampens Market Sentiment"},"content":{"rendered":"<p>As digital gold fell below $57,000, the cryptocurrency fear and greed index dropped to 44 points, confirming bearish market sentiment.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&#038;ref_src=twsrc%5Etfw\">#crypto<\/a> market sentiment has turned into fear! <a href=\"https:\/\/t.co\/HdRK0j52E8\">pic.twitter.com\/HdRK0j52E8<\/a><\/p>\n<p>\u2014 Ali (@ali_charts) <a href=\"https:\/\/twitter.com\/ali_charts\/status\/1808683869404557600?ref_src=twsrc%5Etfw\">July 4, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>At the time of writing, the leading cryptocurrency is trading at $57,800, having fallen 5.5% over the week.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/docsz\/AD_4nXcKezj3MbDZK468wmBo3CETRjQS8mJ-dzN9zSo9qwDp9CKE9WRRCEb9R2HL3N33xjpCoGp1ZD7kO8Rvgm9KDUuke4pZX72YcYJaq6v_5C85o-HP9P9rsQ7rLQHXENXZP27V3Iv-xtsFRlOeACwIzLj4uho?key=O3LfN1--9CJS23eBadoBLg\" alt=\"Bitcoin's Decline Dampens Market Sentiment\"\/><figcaption class=\"wp-element-caption\">15-minute BTC\/USDT chart on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Technical analyst Ali noted the &#8220;brutal&#8221; movement of the leading cryptocurrency. However, in his view, the volume of liquidations was not as significant.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> price action has been brutal, but only $280.9 million in longs have been liquidated and $25.4 in shorts. In the past, we have seen mass liquidation events of over $1 billion! <\/p>\n<p>This tells us either the <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> dip is not over yet or shorts are about to get obliterated. <a href=\"https:\/\/t.co\/PXoaKuWqfE\">pic.twitter.com\/PXoaKuWqfE<\/a><\/p>\n<p>\u2014 Ali (@ali_charts) <a href=\"https:\/\/twitter.com\/ali_charts\/status\/1808688131362738584?ref_src=twsrc%5Etfw\">July 4, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Only $280.9 million in longs and $25.4 million in shorts have been liquidated. In the past, we have seen mass liquidations of over $1 billion. This tells us that either the dip is not over yet or shorts are about to get obliterated,&#8221; the expert wrote.<\/p>\n<\/blockquote>\n<p>In his opinion, the leading cryptocurrency is declining because investors continue to buy it on dips. He also pointed out a $36 million liquidation pool at the $57,700 level.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> dip keeps dipping because too many people keep buying the dip! Now, a $36 million liquidation pool is up for grabs at $57,700. <a href=\"https:\/\/t.co\/PsozPARFXQ\">pic.twitter.com\/PsozPARFXQ<\/a><\/p>\n<p>\u2014 Ali (@ali_charts) <a href=\"https:\/\/twitter.com\/ali_charts\/status\/1808780369467986058?ref_src=twsrc%5Etfw\">July 4, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As the correction deepens, investors are beginning to &#8220;feel anxious,&#8221; Ali added. The unrealized profit\/loss chart shows that at prices below $60,000, investor sentiment shifts from &#8220;belief&#8221; to &#8220;anxiety.&#8221;<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> investors are starting to feel the anxiety as the dip deepens! <a href=\"https:\/\/t.co\/upCrNkpgz0\">pic.twitter.com\/upCrNkpgz0<\/a><\/p>\n<p>\u2014 Ali (@ali_charts) <a href=\"https:\/\/twitter.com\/ali_charts\/status\/1808802179656135094?ref_src=twsrc%5Etfw\">July 4, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Technical analyst and head of Factor LLC, Peter Brandt, noted that on the daily chart, Bitcoin broke the support level and formed a &#8220;bear flag&#8221; pattern, indicating a potential continuation of the downward trend.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Here in the U.S. on the July 4 weekend our attention always turns to flags <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> <a href=\"https:\/\/t.co\/rZifxnz0ch\">pic.twitter.com\/rZifxnz0ch<\/a><\/p>\n<p>\u2014 Peter Brandt (@PeterLBrandt) <a href=\"https:\/\/twitter.com\/PeterLBrandt\/status\/1808578387130138858?ref_src=twsrc%5Etfw\">July 3, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2 class=\"wp-block-heading\"><strong>Negative Factors<\/strong><\/h2>\n<p>On July 4, several wallets of the Mt.Gox exchange were activated in three transactions ahead of expected $9 billion creditor repayments.<\/p>\n<p>According to Arkham Intelligence, two addresses associated with the trading platform participated in test operations. The largest transfer was $24 in the leading cryptocurrency (the others were less than $1).<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Mt Gox activating their wallets finally for repayments. Stay safe <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> <a href=\"https:\/\/t.co\/SjST18kgoP\">pic.twitter.com\/SjST18kgoP<\/a><\/p>\n<p>\u2014 Block_Diversity v.8 \u2122\ufe0f (@i_bot404) <a href=\"https:\/\/twitter.com\/i_bot404\/status\/1808755879660920973?ref_src=twsrc%5Etfw\">July 4, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The trustee of the bankrupt exchange, which collapsed in 2014, had previously announced plans to begin phased reimbursement of 137,000 BTC to users at the start of the month.<\/p>\n<p>On the same day, <a href=\"https:\/\/platform.arkhamintelligence.com\/explorer\/tx\/79fabb2ddce79518fd09f64ec4ddad4d5a7642892293059f1b2da289f35033ad\">237 BTC<\/a> worth $13.67 million were moved from a U.S. government-linked address.<\/p>\n<p>The wallet contained assets confiscated from HashFlare and Polybius Bank founders Sergey Potapenko and Ivan Turygin.<\/p>\n<p>The transfer followed a series of transactions from the wallet of Germany&#8217;s Federal Criminal Police Office (BKA). Authorities sent 1,300 BTC (~$75.5 million) to several centralized exchanges.<\/p>\n<p>Initially, the BKA wallet held 50,000 BTC, <a href=\"https:\/\/forklog.com\/en\/news\/german-authorities-seize-nearly-50000-btc-from-pirates\">seized<\/a> by law enforcement in January from administrators of the pirate movie site Movie2k.<\/p>\n<p>On June 19, authorities began moving assets, some of which had already reached exchanges. Arkham experts noted recipients of the transactions included Coinbase, Kraken, Bitstamp, and market maker Flow Traders.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 \u2014 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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14963,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1384,1145,1150],"class_list":["post-14964","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-fear-index","tag-market-analysis","tag-news-plus"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14964","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=14964"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14964\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/14963"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=14964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=14964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=14964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}