Bittime - Bitcoin (BTC) and other crypto assets are experiencing a decline amid high selling pressure. Bitcoin (BTC) fell 5.7% to $65,742, ending a week-long consolidation between $68,000 and $72,000. The upcoming Bitcoin (BTC) halving event is expected on April 21, which will reduce BTC production by 50%.
Check Crypto Prices Today:
Causes of decline:
- Liquidation of long Bitcoin (BTC) positions: This occurs when investors who bet on rising prices (long positions) are forced to sell their assets due to high volatility. Liquidations of $115 million occurred within 24 hours on April 2.
- Lack of buying pressure: When liquidation of long positions is not offset by sufficient buying pressure, the price of Bitcoin (BTC) can be depressed.
Overall impact:
The overall market capitalization of cryptocurrencies currently stands at $2.48 trillion, down 1.71% in the last 24 hours. The United States stock market also experienced a decline on Tuesday. The S&P 500 index fell 0.72%, the Dow Jones fell 1%, and the Nasdaq fell 0.95%.
Why is the stock market also down?
The latest data shows US inflation (2.8%) remains below the Federal Reserve's target (2%). However, manufacturing data shows growth. This creates uncertainty in financial markets.
Conclusion:
There is no clear signal yet for an increase in Bitcoin prices even though the halving event will occur soon. Investors need to pay close attention to developments in global financial markets.
Dear Beli Crypto from Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
How to Move Bitcoin from CEX to Cold Wallet Ledger: Step by Step Guide
Crypto Project Created by the Nation's Children: Cryptocurrency Innovation from Indonesia
Shiba Inu Whales Start Moving Over 100 Billion SHIB Tokens
Fantom ($FTM) Price Prediction: Warning of a Correction Ahead?
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
Comments
0 comments
Please sign in to leave a comment.