Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain
  • Web 3
    • NFT
    • Metaverse
  • Regulation
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Trump Family touches Magic Eden with cease-and-desists about crypto-wallet plans: Bloomberg

2025-06-05

Solana flows the nail and possibly drags the price below $ 140, while the goal of $ 250 remains active

2025-06-05

Circle stock price Skyrockets 234% in less than 30 minutes, causing multiple commercial levels

2025-06-05
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
Facebook X (Twitter) Instagram
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain

    Maskdao acquires Orb.Club, which unlocks virality in the chain to stimulate the creator economy

    2025-06-05

    $ 650 million bridged to Solana in May, with $ 400 million contributing to Ethereum

    2025-06-05

    SFT protocol works together with Manuspay to stimulate the Echt-Wold Depin Utility in Web3 payments

    2025-06-05

    New Solana -Tool repairs the KYC bottleneck

    2025-06-05

    Consensys acquires Web3Auth to reinvent Metamask onboarding

    2025-06-04
  • Web 3
    • NFT
    • Metaverse
  • Regulation

    Hong Kong Reading to legalize Bitcoin and Crypto derivatives in PURT to Web3 leadership

    2025-06-05

    US-based ETFs that set for growth, despite some regulatory, macro-tailwinds

    2025-06-04

    NYSE ARCA submits to mention Truth Social’s Spot Bitcoin ETF

    2025-06-03

    Donald Trump Jr. says that family came in crypto after he was degraded, realizing the financial system was ‘Pyramid Scheme’

    2025-06-03

    Dubai Crypto ambitions rise with Solana and Ripple Moves

    2025-06-03
  • Analysis

    Circle stock price Skyrockets 234% in less than 30 minutes, causing multiple commercial levels

    2025-06-05

    Here are the two most important graphs in the entire macro, according to the former Goldman Sachs director Raoul Pal

    2025-06-05

    Price slips further, investors on Edge

    2025-06-05

    XRPL is confronted

    2025-06-05

    Analyst says that the Solana-based memecoin institution phase for ‘full parabola’ predicts new of all time for one active

    2025-06-05
  • Learn

    What Are Liquidity Pools? A Beginner’s Guide

    2025-06-05

    What Is Yield Farming and How Does It Work?

    2025-06-02

    What Is Asset Tokenization? How It Works and Why It’s Important

    2025-05-30

    What Is DeFi 2.0 and Why It Matters

    2025-05-27

    Crypto Margin Trading: How It Works and How to Manage the Risks

    2025-05-26
  • Blog
  • Contact
    • Tech7685@gmail.com
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Bitcoin»Bitcoin Price Drop Continues – Should You Change Your Predictions Now?
Bitcoin

Bitcoin Price Drop Continues – Should You Change Your Predictions Now?

2024-03-20No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email
  • In the last 24 hours alone, BTC has fallen more than 4%.
  • Some statistics suggested that BTC might witness a trend reversal.

Bitcoin [BTC] remained bearish as there were multiple price corrections. While there must be several factors at play causing the price drop, one of the main reasons is high selling pressure. Will this cause the value of BTC to drop further?

Investors sell Bitcoin

Bitcoin’s price action turned the entire market bearish as the king of crypto’s value fell by more than 14% last week. In the last 24 hours alone, the value of BTC fell by more than 4%.

At the time of writing, BTC was trade at $61,396.57 with a market cap of over $1.2 trillion. In the meantime, tugbachain, an analyst and author at CryptoQuant, posted a analysis highlighting Bitcoin’s foreign exchange reserve.

Bitcoin's foreign exchange reserves fellBitcoin's foreign exchange reserves fell

Source: CryptoQuant

According to the analysis, foreign exchange reserves have continued to decline consistently since 2020, regardless of whether prices have fallen or risen.

The analysis stated: “This suggests that Bitcoin will be exposed to more supply shocks in the upcoming bull run compared to previous periods, which will contribute positively to the price.”

To better understand whether selling pressure on BTC was high, AMBCrypto checked other related metrics. We found that the net deposit of BTC into the exchanges was high compared to the last seven days, further showing that investors were selling.

Furthermore, both BTC’s Coinbase premium and Korea premium were in the red, meaning selling sentiment was dominant among US and Korean investors.

Source: CryptoQuant

Will Biotcoin Witness a Trend Reversal?

With selling pressure high, a continued short-term downward trend seemed likely.

See also  Will Bitcoin Mining Help BTC Cross $86K? Breaking the odds

Ali, a popular crypto analyst, recently posted one tweet indicating important support zones for BTC. The tweet mentioned that BTC has strong support near $61,100. If BTC fails to test that support, its value might as well fall to $56,000.

However, if BTC manages to stay above $61,100, it could experience a trend reversal and reach its resistance zone around $66,000 again. The possibility of a trend reversal cannot be ruled out as BTC’s aSORP turned green.

This meant that more investors sold at a loss. In the middle of a bear market, this could indicate a market bottom.

Source: CryptoQuant


Read Bitcoins [BTC] Price prediction 2024-25


Therefore, AMBCrypto next looked at the daily chart of BTC to see what the technical indicators had to say. Our analysis showed that Bitcoin’s Chaikin Money Flow (CMF) registered an increase. The price also reached the lower limit of the Bollinger Bands, indicating that a trend reversal could occur soon.

Nevertheless, the MACD continued to support the sellers as it showed a bearish advantage in the market.

Source: TradingView

Next: Solana ‘beats’ Bitcoin here; Is $200 Next for SOL Price Prediction?



Source link

Bitcoin Change continues Drop predictions Price
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Solana flows the nail and possibly drags the price below $ 140, while the goal of $ 250 remains active

2025-06-05

Circle stock price Skyrockets 234% in less than 30 minutes, causing multiple commercial levels

2025-06-05

Bitcoin wallet Creation raises 6 months, but traders sit back: why?

2025-06-05

VerifiedX launches safe accounts – Setting a new standard for Bitcoin security

2025-06-05
Add A Comment

Comments are closed.

Top Posts

Soneium to stimulate blockchain interoperability in collaboration with Reactive Network

2025-02-21

Bitcoin spot ETF: BlackRock expects approval on this date

2024-01-07

The founder of BitMEX predicts that Bitcoin will go to $1 million under Trump

2024-11-12
Editors Picks

Terraform Labs will restrict US access and withdraw $23 million in liquidity following the SEC’s ruling

2024-04-26

The Dangers of the Coming Bull Run

2023-11-21

Bitcoin ETFs soar toward $10 billion in three days despite slow start

2024-01-17

Solana Bulls aim for $20 or higher

2023-06-23

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Trump Family touches Magic Eden with cease-and-desists about crypto-wallet plans: Bloomberg

Solana flows the nail and possibly drags the price below $ 140, while the goal of $ 250 remains active

Circle stock price Skyrockets 234% in less than 30 minutes, causing multiple commercial levels

Get Informed

Subscribe to Updates

Get the latest news and Update from Bitcoin Platform about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
© 2025 Bitcoinplatform.com - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$100,865.90-3.76%
  • ethereumEthereum(ETH)$2,414.58-7.51%
  • tetherTether USDt(USDT)$1.000.00%
  • rippleXRP(XRP)$2.07-5.93%
  • binancecoinBNB(BNB)$629.36-5.33%
  • solanaSolana(SOL)$142.53-7.76%
  • usd-coinUSDC(USDC)$1.000.02%
  • tronTRON(TRX)$0.268742-1.64%
  • dogecoinDogecoin(DOGE)$0.169312-10.10%
  • cardanoCardano(ADA)$0.62-6.54%
  • hyperliquidHyperliquid(HYPE)$32.96-6.05%
  • suiSui(SUI)$2.90-9.07%
  • chainlinkChainlink(LINK)$12.76-7.41%
  • unus-sed-leoUNUS SED LEO(LEO)$8.81-2.57%
  • stellarStellar(XLM)$0.254383-4.56%
  • avalanche-2Avalanche(AVAX)$18.68-7.71%
  • bitcoin-cashBitcoin Cash(BCH)$381.79-5.20%
  • the-open-networkToncoin(TON)$3.02-4.44%
  • shiba-inuShiba Inu(SHIB)$0.000012-6.32%
  • hedera-hashgraphHedera(HBAR)$0.157801-5.76%
  • litecoinLitecoin(LTC)$83.27-5.64%
  • polkadotPolkadot(DOT)$3.79-5.63%
  • ethena-usdeEthena USDe(USDE)$1.00-0.06%
  • moneroMonero(XMR)$312.991.09%
  • daiDai(DAI)$1.000.00%
  • bitget-tokenBitget Token(BGB)$4.52-5.19%
  • piPi(PI)$0.61-6.26%
  • pepePepe(PEPE)$0.000010-12.02%
  • uniswapUniswap(UNI)$5.88-6.75%
  • aaveAave(AAVE)$241.55-8.85%
  • bittensorBittensor(TAO)$350.72-8.40%
  • okbOKB(OKB)$49.980.03%
  • crypto-com-chainCronos(CRO)$0.096066-4.20%
  • aptosAptos(APT)$4.49-6.43%
  • nearNEAR Protocol(NEAR)$2.25-7.50%
  • internet-computerInternet Computer(ICP)$4.86-6.76%
  • ethereum-classicEthereum Classic(ETC)$16.29-5.30%
  • ondo-financeOndo(ONDO)$0.77-7.84%
  • gatechain-tokenGateToken(GT)$18.14-5.39%
  • usd1World Liberty Financial USD(USD1)$1.000.00%
  • mantleMantle(MNT)$0.63-5.52%
  • kaspaKaspa(KAS)$0.080103-3.74%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.197758-7.47%
  • vechainVeChain(VET)$0.022404-6.56%
  • official-trumpOFFICIAL TRUMP(TRUMP)$9.58-11.32%
  • render-tokenRender(RENDER)$3.51-6.13%
  • ethenaEthena(ENA)$0.287634-9.03%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.72-9.36%
  • worldcoin-wldWorldcoin(WLD)$1.03-10.44%
  • cosmosCosmos(ATOM)$4.07-4.69%
  • bitcoinBitcoin(BTC)$100,865.90-3.76%
  • ethereumEthereum(ETH)$2,414.58-7.51%
  • tetherTether USDt(USDT)$1.000.00%
  • rippleXRP(XRP)$2.07-5.93%
  • binancecoinBNB(BNB)$629.36-5.33%
  • solanaSolana(SOL)$142.53-7.76%
  • usd-coinUSDC(USDC)$1.000.02%
  • tronTRON(TRX)$0.268742-1.64%
  • dogecoinDogecoin(DOGE)$0.169312-10.10%
  • cardanoCardano(ADA)$0.62-6.54%
  • hyperliquidHyperliquid(HYPE)$32.96-6.05%
  • suiSui(SUI)$2.90-9.07%
  • chainlinkChainlink(LINK)$12.76-7.41%
  • unus-sed-leoUNUS SED LEO(LEO)$8.81-2.57%
  • stellarStellar(XLM)$0.254383-4.56%
  • avalanche-2Avalanche(AVAX)$18.68-7.71%
  • bitcoin-cashBitcoin Cash(BCH)$381.79-5.20%
  • the-open-networkToncoin(TON)$3.02-4.44%
  • shiba-inuShiba Inu(SHIB)$0.000012-6.32%
  • hedera-hashgraphHedera(HBAR)$0.157801-5.76%
  • litecoinLitecoin(LTC)$83.27-5.64%
  • polkadotPolkadot(DOT)$3.79-5.63%
  • ethena-usdeEthena USDe(USDE)$1.00-0.06%
  • moneroMonero(XMR)$312.991.09%
  • daiDai(DAI)$1.000.00%
  • bitget-tokenBitget Token(BGB)$4.52-5.19%
  • piPi(PI)$0.61-6.26%
  • pepePepe(PEPE)$0.000010-12.02%
  • uniswapUniswap(UNI)$5.88-6.75%
  • aaveAave(AAVE)$241.55-8.85%
  • bittensorBittensor(TAO)$350.72-8.40%
  • okbOKB(OKB)$49.980.03%
  • crypto-com-chainCronos(CRO)$0.096066-4.20%
  • aptosAptos(APT)$4.49-6.43%
  • nearNEAR Protocol(NEAR)$2.25-7.50%
  • internet-computerInternet Computer(ICP)$4.86-6.76%
  • ethereum-classicEthereum Classic(ETC)$16.29-5.30%
  • ondo-financeOndo(ONDO)$0.77-7.84%
  • gatechain-tokenGateToken(GT)$18.14-5.39%
  • usd1World Liberty Financial USD(USD1)$1.000.00%
  • mantleMantle(MNT)$0.63-5.52%
  • kaspaKaspa(KAS)$0.080103-3.74%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.197758-7.47%
  • vechainVeChain(VET)$0.022404-6.56%
  • official-trumpOFFICIAL TRUMP(TRUMP)$9.58-11.32%
  • render-tokenRender(RENDER)$3.51-6.13%
  • ethenaEthena(ENA)$0.287634-9.03%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.72-9.36%
  • worldcoin-wldWorldcoin(WLD)$1.03-10.44%
  • cosmosCosmos(ATOM)$4.07-4.69%