Saturday, March 25, 2023
  • Login
EthozEdge
No Result
View All Result
  • Home
  • ETHO News
  • EVM News
    • Avalanche Network
    • Ethereum
    • Fantom Opera Chain
    • Harmony Chain
    • Huobi Eco Chain
    • Polygon Chain
  • Crypto News
    • Altcoin News
    • Bitcoin
    • Blockchain
    • Crypto Exchanges
    • Crypto Mining
    • Crypto Regulation News
    • DeFi
    • NFT
    • Metaverse
    • Scam News
    • Web 3.0
Cryptocurrency Marketcap
  • Home
  • ETHO News
  • EVM News
    • Avalanche Network
    • Ethereum
    • Fantom Opera Chain
    • Harmony Chain
    • Huobi Eco Chain
    • Polygon Chain
  • Crypto News
    • Altcoin News
    • Bitcoin
    • Blockchain
    • Crypto Exchanges
    • Crypto Mining
    • Crypto Regulation News
    • DeFi
    • NFT
    • Metaverse
    • Scam News
    • Web 3.0
No Result
View All Result
EthozEdge
No Result
View All Result
Home Crypto News Bitcoin

Bitcoin Carnage Continues As BTC Disintegrates To $34K

by ethozedge
May 9, 2022
in Bitcoin
Reading Time: 3 mins read
A A
0
Share on FacebookShare on Twitter


The cryptocurrency market as a whole is once again blanketed in red, with Bitcoin falling to a multi-month low.

Bitcoin’s price has tanked for four consecutive days, breaching the psychological support level of $35,000. The probable freefall will drag BTC down to the $33,000 support level if sellers maintain this decline.

According to CoinGecko, the most popular and largest cryptocurrency by market capitalization lost 4.5 percent during the past 24 hours, breaching a crucial support level and posting a daily low of $34,405.

The market capitalization of Bitcoin fell to $657 billion, CoinMarketCap data show. As of March 28, this number exceeded $900 billion.

Suggested Reading | APE Takes A Beating As It Sheds 50% Of Its Price

The price of BTC has crashed for four straight days, breaking past the psychological support level of $35,000. (TechnoPixel)

‘Extreme Fear’ For Bitcoin

BTC is presently selling at approximately $34,515, down roughly 10% in the past week and down 40% year-to-date.

The Bitcoin Fear and Greed Index reached a level of “extreme fear” as a result of a loss of about $6,000 in just a few days, which inevitably caused a significant shift in mindset.

Rick Bensignor of Bensignor Investment Strategies said in a note, “Bitcoin’s failure to hold key support has increased the likelihood of a severe decline.”

Bitcoin has mainly followed the downward trend of equities markets as investors across asset classes react to indications of future interest rate hikes. In the past 24 hours, the market for cryptocurrencies as a whole has fallen by 4.4%.

BTC total market cap at $638 billion on the daily chart | Source: TradingView.com

No ‘Counter-Trend’ Indicators

Katie Stockton, managing partner at Fairlead Strategies, wrote in a note, “Bitcoin currently has no counter-trend indications, but the equities market appears primed for a comeback next week, which we hope will carry over to cryptocurrencies.”

The majority of Bitcoin’s loss occurred after the Federal Reserve raised the Federal Funds interest rate by 0.50 percentage points, which triggered a stock market selloff and effectively promised two more 0.50 percentage point increases.

Institutional investors began selling Bitcoin exchange-traded funds more than a week ago, according to a CoinShares report. Prior week Bitcoin outflows totaled $133 million, the biggest figure since June last year.

Bitcoin is predicted to drop to $30,000. (MoneyWeek)

Analyst Predicts A Drop To $30K

Carter Braxton Worth, the founder of Worth Charting, predicts that Bitcoin’s price will drop by another 13% to $30,000.

As previously indicated, alternative coins are also suffering, with red dominating virtually all charts. Ethereum leads this negative trend with a daily decline of 4.5 percent.

Binance Coin has lost a comparable percentage and is currently trading below $360. Additionally, Avalanche, Cardano, Dogecoin, Ripple, Solana, Polkadot, NEAR, and Shiba Inu are in the red.

Last week, the head of research at IntoTheBlock, Lucas Outumuro, told Fortune, “Until the market begins to look past the influence of the Fed’s quantitative tightening and rate hikes, I believe it impossible for Bitcoin to develop a broader uptrend.”

Suggested Reading | Moonbirds And Solana NFT Trading Volume Is On A Tear As Sales Rally 45%

Featured image Live Science, chart from TradingView.com



Source link

Tags: 34KBitcoinbitcoin newsBTCCarnageContinuescrypto analysiscrypto newsDisintegratesEthoz EdgeLatest bitcoin newslatest crypto news
Share76Tweet47

Related Posts

Billionaire VC Tim Draper Tells Businesses To Keep Payroll In Bitcoin

by ethozedge
March 25, 2023
0

Following the implosion of Silicon Valley Bank, Bitcoin price has been surging and businesses across the globe are restrategizing their...

Why We Opened The Belgrade Bitcoin Hub

by ethozedge
March 25, 2023
0

With a rich history and recent evolution, Belgrade is now home to the latest Bitcoin working and presentation space. This...

Bitcoin Was a Winner During the U.S. Banking Crisis, but Illiquidity Prevents It From Being a USD Hedge

by ethozedge
March 25, 2023
0

When liquidity is low in any financial market, volatility is high in both directions. Prices have less support on both...

Nigerian Banks Not Directly Exposed to SVB Says Central Bank Governor – Africa Bitcoin News

by ethozedge
March 25, 2023
0

A recent review of Nigerian banks’ bond portfolios showed that the institutions were not directly exposed to Silicon Valley Bank,...

Crypto Pundits Romance the Hyperinflation and Dollar Death Narrative. Is It a Real Scare?

by ethozedge
March 24, 2023
0

“In the event of a widespread banking panic, which seems unlikely at this time, there will probably be the typical...

Load More
  • Trending
  • Comments
  • Latest

🔴 Bank of America Bets on Crypto

April 11, 2022

Pomelo Launches Family Credit Cards to Combine Credit and International Money Transfer

August 16, 2022

How to Add Polygon (MATIC) to Your MetaMask Wallet

May 28, 2022

The Sandbox Price Prediction 2022-2030: HODL or DUMP?

May 25, 2022

Successful Beta Service launch of SOMESING, ‘My Hand-Carry Studio Karaoke App’

0

At least 54 apes were stolen in BAYC Instagram hack

0

Binance Introduces New Crypto Card for Ukrainian Refugees

0

55,000 Meta Cricket League NFTs sell out in nine minutes

0

Crypto Trader Maps Path Forward for Aptos and Chainlink, Predicts Altcoins Will Fly Once Bitcoin Cools Off

March 25, 2023

Billionaire VC Tim Draper Tells Businesses To Keep Payroll In Bitcoin

March 25, 2023

Why We Opened The Belgrade Bitcoin Hub

March 25, 2023

Bitcoin Was a Winner During the U.S. Banking Crisis, but Illiquidity Prevents It From Being a USD Hedge

March 25, 2023
Facebook Twitter LinkedIn Tumblr RSS
EthozEdge

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at EthozEdge

CATEGORIES

  • Altcoin News
  • Avalanche Network
  • Binance Smart Chain
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Mining
  • Crypto Regulation News
  • DeFi
  • Ethereum
  • EVM News
  • Fantom Opera Chain
  • Harmony Chain
  • Huobi Eco Chain
  • Metaverse
  • NFT
  • Polygon Chain
  • Scam News
  • Web 3.0
  • XDai Chain

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - EthozEdge.
EthozEdge The Crypto is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • ETHO News
  • EVM News
    • Avalanche Network
    • Ethereum
    • Fantom Opera Chain
    • Harmony Chain
    • Huobi Eco Chain
    • Polygon Chain
  • Crypto News
    • Altcoin News
    • Bitcoin
    • Blockchain
    • Crypto Exchanges
    • Crypto Mining
    • Crypto Regulation News
    • DeFi
    • NFT
    • Metaverse
    • Scam News
    • Web 3.0

Copyright © 2022 - EthozEdge.
EthozEdge The Crypto is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • JDBJDB(JDB)$0.021575-0.61%
  • bitcoinBitcoin(BTC)$27,679.00-0.58%
  • ethereumEthereum(ETH)$1,756.890.28%
  • USDEXUSDEX(USDEX)$1.07-0.47%
  • tetherTether(USDT)$1.010.01%
  • binancecoinBNB(BNB)$325.361.47%
  • usd-coinUSD Coin(USDC)$1.01-0.10%
  • rippleXRP(XRP)$0.4620899.63%
  • cardanoCardano(ADA)$0.358910-1.83%
  • dogecoinDogecoin(DOGE)$0.0751451.13%
  • staked-etherLido Staked Ether(STETH)$1,752.970.49%
  • matic-networkPolygon(MATIC)$1.100.88%
  • binance-usdBinance USD(BUSD)$1.010.21%
  • solanaSolana(SOL)$20.791.10%
  • polkadotPolkadot(DOT)$6.02-0.63%
  • litecoinLitecoin(LTC)$92.732.02%
  • shiba-inuShiba Inu(SHIB)$0.0000111.28%
  • tronTRON(TRX)$0.0644781.42%
  • avalanche-2Avalanche(AVAX)$16.79-1.22%
  • daiDai(DAI)$1.000.10%
  • uniswapUniswap(UNI)$5.81-2.21%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$27,741.00-0.56%
  • chainlinkChainlink(LINK)$7.10-2.35%
  • cosmosCosmos Hub(ATOM)$11.24-0.03%
  • leo-tokenLEO Token(LEO)$3.38-1.04%
  • ToncoinToncoin(TON)$2.111.33%
  • moneroMonero(XMR)$164.694.51%
  • ethereum-classicEthereum Classic(ETC)$20.301.19%
  • okbOKB(OKB)$42.21-1.96%
  • Aerarium FiAerarium Fi(AERA)$7.15-13.10%
  • stellarStellar(XLM)$0.0922254.00%
  • bitcoin-cashBitcoin Cash(BCH)$126.191.70%
  • filecoinFilecoin(FIL)$5.53-0.30%
  • AptosAptos(APT)$11.90-2.68%
  • true-usdTrueUSD(TUSD)$1.01-0.09%
  • hedera-hashgraphHedera(HBAR)$0.0607511.12%
  • quant-networkQuant(QNT)$123.220.89%
  • lido-daoLido DAO(LDO)$2.07-2.95%
  • crypto-com-chainCronos(CRO)$0.0689750.98%
  • nearNEAR Protocol(NEAR)$1.94-1.08%
  • vechainVeChain(VET)$0.0229980.90%
  • ArbitrumArbitrum(ARB)$1.25-2.18%
  • apecoinApeCoin(APE)$4.163.40%
  • algorandAlgorand(ALGO)$0.210670-0.06%
  • internet-computerInternet Computer(ICP)$4.990.60%
  • blockstackStacks(STX)$0.95-6.60%
  • eosEOS(EOS)$1.14-2.69%
  • fantomFantom(FTM)$0.449698-1.63%
  • the-graphThe Graph(GRT)$0.140775-0.69%
  • the-sandboxThe Sandbox(SAND)$0.630.56%
  • decentralandDecentraland(MANA)$0.591.03%
  • elrond-erd-2MultiversX(EGLD)$42.450.33%
  • fraxFrax(FRAX)$1.00-0.16%
  • tezosTezos(XTZ)$1.13-0.31%
  • aaveAave(AAVE)$72.10-1.76%
  • theta-tokenTheta Network(THETA)$1.020.88%
  • flowFlow(FLOW)$0.97-1.05%
  • immutable-xImmutableX(IMX)$1.06-6.88%
  • axie-infinityAxie Infinity(AXS)$8.391.32%
  • neoNEO(NEO)$12.11-2.57%
  • kucoin-sharesKuCoin(KCS)$8.76-0.76%
  • havvenSynthetix Network(SNX)$2.49-1.80%
  • paxos-standardPax Dollar(USDP)$1.01-0.17%
  • rocket-poolRocket Pool(RPL)$38.630.36%
  • BitDAOBitDAO(BIT)$0.52-0.15%
  • WhiteBIT TokenWhiteBIT Token(WBT)$5.113.15%
  • gatechain-tokenGate(GT)$5.17-1.55%
  • terra-lunaTerra Luna Classic(LUNC)$0.0001231.26%
  • usddUSDD(USDD)$1.00-0.02%
  • curve-dao-tokenCurve DAO(CRV)$0.931.30%
  • mina-protocolMina Protocol(MINA)$0.82-0.38%
  • bitcoin-cash-svBitcoin SV(BSV)$36.901.35%
  • optimismOptimism(OP)$2.240.14%
  • klay-tokenKlaytn(KLAY)$0.2280110.52%
  • pancakeswap-tokenPancakeSwap(CAKE)$3.741.42%
  • conflux-tokenConflux(CFX)$0.318417-3.02%
  • dashDash(DASH)$59.53-2.22%
  • chilizChiliz(CHZ)$0.1205821.28%
  • sapphireSapphire(SAPP)$0.7035.32%
  • CloutContractsCloutContracts(CCS)$52.461,000.00%
  • makerMaker(MKR)$669.670.70%
  • gmxGMX(GMX)$69.75-0.66%
  • ecasheCash(XEC)$0.0000311.13%
  • huobi-tokenHuobi(HT)$3.670.59%
  • bittorrentBitTorrent(BTT)$0.0000011.16%
  • iotaIOTA(MIOTA)$0.2080690.08%
  • frax-shareFrax Share(FXS)$7.79-0.11%
  • Bitget TokenBitget Token(BGB)$0.3971270.66%
  • xdce-crowd-saleXDC Network(XDC)$0.0397494.15%
  • singularitynetSingularityNET(AGIX)$0.449558-7.48%
  • compound-ethercETH(CETH)$35.29-1.05%
  • EdgecoinEdgecoin(EDGT)$1.01-0.11%
  • pax-goldPAX Gold(PAXG)$2,004.300.03%
  • trust-wallet-tokenTrust Wallet(TWT)$1.212.95%
  • Tokenize XchangeTokenize Xchange(TKX)$6.22-1.15%
  • tether-goldTether Gold(XAUT)$1,993.490.07%
  • binaryxBinaryX(BNX)$165.94-5.94%
  • Halo CoinHalo Coin(HALO)$0.057352-0.04%
  • zilliqaZilliqa(ZIL)$0.0272880.29%
  • compound-usd-coincUSDC(CUSDC)$0.0229100.03%
  • osmosisOsmosis(OSMO)$0.800.32%
  • FlareFlare(FLR)$0.0356949.31%
  • loopringLoopring(LRC)$0.3496152.60%
  • radixRadix(XRD)$0.041887-0.50%
  • render-tokenRender(RNDR)$1.17-3.74%
  • 1inch1inch(1INCH)$0.510.19%
  • thorchainTHORChain(RUNE)$1.401.16%
  • mask-networkMask Network(MASK)$5.50-5.05%
  • nexoNEXO(NEXO)$0.755.14%
  • arweaveArweave(AR)$8.141.42%
  • Rocket Pool ETHRocket Pool ETH(RETH)$1,879.750.23%
  • kavaKava(KAVA)$0.871.65%
  • oec-tokenOKC Token(OKT)$22.43-0.46%
  • gemini-dollarGemini Dollar(GUSD)$1.000.24%
  • enjincoinEnjin Coin(ENJ)$0.3900890.84%
  • convex-financeConvex Finance(CVX)$5.130.91%
  • cdaicDAI(CDAI)$0.0222500.09%
  • fetch-aiFetch.ai(FET)$0.3693981.54%
  • casper-networkCasper Network(CSPR)$0.0353610.69%
  • btse-tokenBTSE Token(BTSE)$2.37-0.09%
  • zcashZcash(ZEC)$35.800.19%
  • DeFiChainDeFiChain(DFI)$0.55-0.94%
  • EthereumPoWEthereumPoW(ETHW)$3.400.26%
  • dydxdYdX(DYDX)$2.35-2.92%
  • DogechainDogechain(DC)$0.001787-24.98%
  • basic-attention-tokenBasic Attention(BAT)$0.239214-1.03%
  • FLOKIFLOKI(FLOKI)$0.0000362.02%
  • nemNEM(XEM)$0.0391340.46%
  • ethereum-name-serviceEthereum Name Service(ENS)$13.28-0.59%
  • WEMIXWEMIX(WEMIX)$1.38-0.51%
  • Nexus MutualNexus Mutual(NXM)$49.35-1.23%
  • baby-doge-coinBaby Doge Coin(BABYDOGE)$0.0000000.31%
  • BeldexBeldex(BDX)$0.06343713.43%
  • qtumQtum(QTUM)$3.13-2.05%
  • woo-networkWOO Network(WOO)$0.194143-0.98%
  • Aleph ZeroAleph Zero(AZERO)$1.470.99%
  • theta-fuelTheta Fuel(TFUEL)$0.052825-0.38%
  • decredDecred(DCR)$21.551.59%
  • holotokenHolo(HOT)$0.001791-1.05%
  • injective-protocolInjective(INJ)$3.93-5.58%
  • terra-luna-2Terra(LUNA)$1.300.22%
  • ravencoinRavencoin(RVN)$0.0259230.56%
  • MagicMagic(MAGIC)$1.45-3.29%
  • kusamaKusama(KSM)$33.17-0.16%
  • galaGALA(GALA)$0.039283-1.36%
  • KaspaKaspa(KAS)$0.016927-1.52%
  • celoCelo(CELO)$0.60-1.39%
  • compound-governance-tokenCompound(COMP)$42.650.65%
  • bitcoin-goldBitcoin Gold(BTG)$16.59-0.31%
  • oasis-networkOasis Network(ROSE)$0.056797-0.61%
  • olympusOlympus(OHM)$10.25-0.46%
  • Gains FarmGains Farm(GFARM2)$7,940.810.00%
  • gnosisGnosis(GNO)$108.190.51%
  • safemoonSafeMoon [OLD](SAFEMOON)$0.0000001.53%
  • yearn-financeyearn.finance(YFI)$8,338.86-1.17%
  • Access ProtocolAccess Protocol(ACS)$0.009179-0.11%
  • linkLINK(LN)$40.26-2.88%
  • balancerBalancer(BAL)$6.752.95%
  • AstarAstar(ASTR)$0.0617840.77%
  • ankrAnkr Network(ANKR)$0.032934-2.66%
  • liquity-usdLiquity USD(LUSD)$1.02-0.24%
  • audiusAudius(AUDIO)$0.2693940.41%
  • chiaChia(XCH)$38.283.00%
  • omisegoOMG Network(OMG)$1.86-5.99%
  • Bone ShibaSwapBone ShibaSwap(BONE)$1.134.08%
  • harmonyHarmony(ONE)$0.0206691.02%
  • nucypherNuCypher(NU)$0.196009-1.50%
  • IdeaChainIdeaChain(ICH)$4.730.00%
  • ftx-tokenFTX(FTT)$1.89-21.52%
  • Crypto Gladiator LeagueCrypto Gladiator League(CGL)$0.16194440.57%
  • huobi-btcHuobi BTC(HBTC)$27,674.00-0.15%
  • SSV NetworkSSV Network(SSV)$34.491.15%
  • stepnSTEPN(GMT)$0.383365-0.77%
  • AstraferAstrafer(ASTRAFER)$1.550.47%
  • golemGolem(GLM)$0.2409760.50%
  • convex-crvConvex CRV(CVXCRV)$0.810.95%
  • Manchester City Fan TokenManchester City Fan Token(CITY)$11.87-1.78%
  • justJUST(JST)$0.0260040.42%
  • iotexIoTeX(IOTX)$0.024478-5.57%
  • world-mobile-tokenWorld Mobile Token(WMT)$0.2920233.33%
  • DAO MakerDAO Maker(DAO)$1.551.01%
  • escoin-tokenEscoin(ELG)$2.841.15%
  • moonbeamMoonbeam(GLMR)$0.375495-0.76%
  • Meerkat SharesMeerkat Shares(MSHARE)$11,715.17-5.03%
  • tether-eurtEuro Tether(EURT)$1.090.20%
  • band-protocolBand Protocol(BAND)$1.796.90%
  • jasmycoinJasmyCoin(JASMY)$0.004641-0.98%
  • Staked LunaStaked Luna(STLUNA)$88.35-0.49%
  • Frax EtherFrax Ether(FRXETH)$1,756.260.27%
  • BlurBlur(BLUR)$0.52-0.27%
  • amp-tokenAmp(AMP)$0.0039052.38%
  • ecomiECOMI(OMI)$0.000818-0.05%
  • Gains NetworkGains Network(GNS)$7.16-2.47%
  • wavesWaves(WAVES)$2.140.13%
  • kadenaKadena(KDA)$0.95-3.10%
  • siacoinSiacoin(SC)$0.004029-0.40%
  • iconICON(ICX)$0.217697-0.43%
  • BitgertBitgert(BRISE)$0.0000018.38%
  • Ankr Staked ETHAnkr Staked ETH(ANKRETH)$1,925.73-2.13%
  • terrausdTerraClassicUSD(USTC)$0.0208102.14%