Bitcoin shows signs of weakening demand that could lead to a drop toward $72,000.
Market observers note bearish technical indicators and increased inflows to Binance as factors adding sell pressure on the cryptocurrency.
Iniulat ng AI Larawang ginawa ng AI
Bitcoin briefly fell below $80,000 on Thursday as analysts noted rising profit taking among traders. The move came despite recent technical signals pointing to potential upward momentum.
Bitcoin has slipped below the $78,000 threshold in latest trading sessions.
Iniulat ng AI
Bitcoin traders are holding out for one more price dip before expecting the uptrend to resume with new highs.
Bitcoin climbed to a two-month peak near $78,000, driven by easing geopolitical tensions and growing investor confidence. Ethereum and altcoins such as XRP and BNB also posted gains. Analysts highlight technical indicators suggesting potential for further upside to $84,000.
Iniulat ng AI
Bitcoin fell toward 79,000 dollars as rising US Treasury yields, inflation concerns and higher oil prices prompted a risk-off mood across global markets. Major altcoins declined alongside the leading cryptocurrency. The total value of the worldwide crypto market also dropped.