BlockchainBitcoin Price Drops Below $60K Amid Rapid Whale Sell-Off

Bitcoin Price Drops Below $60K Amid Rapid Whale Sell-Off

Bitcoin’s price has tumbled below the critical $60,000 mark, slipping 3% overnight. This downturn marks the third consecutive bearish day, resulting in a 6% decline for the week. Currently, Bitcoin is testing the 200-day EMA, trading at $58,893.

Also Read: Ethereum’s ETF Debut Could Outshine Bitcoin

A significant event just unfolded: a whale transferred 1,800 BTC ($106 million) to Binance at a loss, merely 40 minutes ago. Since June 27, this whale has deposited a total of 5,281 BTC ($323.2 million) to Binance, enduring a loss of about $20 million. These large movements and losses highlight the ongoing volatility and uncertainty in the market.

Also Read: Long-Dormant Bitcoin Wallet Springs to Life After 13 Years


Bitcoin Price Forecast, Prediction and Analysis

Pivot, Resistance and Support Levels

Calculation For Trading:

Resistance Level (R3): 64504.78
Resistance Level (R2): 63338.80
Resistance Level (R1): 61782.53
Pivot Point: 60616.55
Support Level (S1): 59060.27
Support Level (S2): 57894.29
Support Level (S3): 56338.02

What is the BTC price today?

The current price of Bitcoin is 58890.80 USD today.

Will BTC price grow / rise / go up?

Yes. The Bitcoin price can go up from 58890.80 USD to 67865.23 USD in one year.

Is it profitable to invest in Bitcoin?

Yes. The long-term earning potential is +15.24% in one year.

Will Bitcoin price fall / drop?

No.

What will Bitcoin be worth in five years (2029)?

The Bitcoin (BTC ) future price will be 89212.65 USD.

Florent Malice
Florent Malicehttps://www.newsalarms.com/
Florent is a passionate blockchain enthusiast, dedicated to exploring the intersection of technology and finance. With a focus on blockchain, web crypto, and NFTs, he contributes insightful analyses and updates to NewsAlarms, offering clarity on the evolving landscape of digital assets.

Latest news

The Five Most Exciting Memecoin Listings of 2024

Discover the Latest Memecoin Listings: PIXFI, LUMBER, and More in 2024 The world of cryptocurrency continues to evolve with the...

Maximize Your Crypto Gains with These 2024 Portfolios

Discover the Top Crypto Portfolio Additions for 2024 Introduction The world of cryptocurrency thrives on buzz and popularity. As a coin...

HamsterBase: Introducing NFTs to Revolutionize Battle Royale

Explore HamsterBase: An NFT-Driven Battle Royale Adventure Welcome to HamsterBase, an exciting new game that blends the intensity of PVP...

Is Elon Musk Set to Surprise the 2024 Bitcoin Conference?

As anticipation grows for the 2024 Bitcoin Conference in Nashville, Tennessee, speculation is mounting about a potential surprise appearance...

Bitcoin Surges to $68,000 Following Surprise Interest Rate Cut by China

Bitcoin experienced a brief decline on Sunday following U.S. President Joe Biden's announcement that he will not seek a...

Will the Ethereum ETF Push Prices to a $5,000 High?

CBOE Set to Introduce Five Spot Ethereum ETFs on July 23 The Ethereum ETF is making headlines again as the...

Must read

The Five Most Exciting Memecoin Listings of 2024

Discover the Latest Memecoin Listings: PIXFI, LUMBER, and More...

Maximize Your Crypto Gains with These 2024 Portfolios

Discover the Top Crypto Portfolio Additions for 2024 Introduction The world...

HamsterBase: Introducing NFTs to Revolutionize Battle Royale

Explore HamsterBase: An NFT-Driven Battle Royale Adventure Welcome to HamsterBase,...

Is Elon Musk Set to Surprise the 2024 Bitcoin Conference?

As anticipation grows for the 2024 Bitcoin Conference in...

Bitcoin Surges to $68,000 Following Surprise Interest Rate Cut by China

Bitcoin experienced a brief decline on Sunday following U.S....

You might also like
Recommended to you