PANews February 7 News, according to CNBC, the selling pressure in the crypto market this week mainly comes from the sell-off of Bitcoin spot ETFs, a sharp decline in prices triggering a wave of forced liquidations, and the spillover effect from the sell-off of soft tech stocks, further intensifying market volatility. However, some investors have entered the market to absorb the sell-off, causing prices to rebound quickly in a short period. Currently, most market participants remain cautious about whether the market is close to the bottom. Crypto research firm 10X Research pointed out that Bitcoin may experience a brief countertrend rebound or consolidation next, but it could potentially hit new lows again this summer. The firm’s research director Markus Thielen estimates that Bitcoin could possibly drop to as low as $50,000, or even fall within the $40,000 to $50,000 range.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Elevate Your BTC by Integrating Bitcoin Everlight Shards Early
For many years, earning Bitcoin has historically required complicated trading or expensive mining equipment that’s difficult for many people to run at home. This, in the context of users constantly looking for reliable passive income sources in the digital asset space, is important, especially as
CryptoPotato21m ago
Outflows Return for Bitcoin ETFs With $174 Million Exit
Bitcoin exchange-traded funds (ETFs) fell back into outflows after two days of gains, dragging ether along with them. XRP also declined, while solana ETFs remained inactive.
Ether Sees Renewed Selling as Bitcoin ETFs Lose $174 Million
The early-week rebound for crypto ETFs did not last long.
Coinpedia52m ago
Price predictions 4/1: BTC, ETH, BNB, XRP, SOL, DOGE, HYPE, ADA, BCH, LINK
Key points:
Buyers will have to sustain Bitcoin above $69,000 to gain the upper hand in the short term.
Select major altcoins may break above their near-term resistance, signaling buying at lower levels.
Bitcoin (BTC) is facing resistance at $69,000, but the bulls continue to
Cointelegraph1h ago
Nakamoto BTC Sale Signals Sectorwide DAT Contagion, Analyst Says
Bitcoin treasury holders have faced a renewed wave of scrutiny as market stress spread through the sector. Nakamoto (NAKA), a prominent crypto treasury company, disclosed March sales that locked in losses, a signal that broader capital discipline could intensify in the coming weeks. The
CryptoBreaking2h ago
