Bitcoin (BTC) Price Decline May Not Be Over Despite Recent Recovery
📉
Last Monday, Bitcoin's price fell sharply from $61,000 to $54,000, causing significant losses and liquidations. Despite a partial recovery, the Bitcoin Holder Net Position Change indicates long-term holders have been selling since August 5, with 4,881 BTC sold on August 10, suggesting potential for further decline.
Spot ETFs also show bearish signs, with a net outflow of -$89.73 million recorded last Friday, indicating more selling than buying. Inflows are essential for Bitcoin's price recovery, and current outflows may hinder BTC from maintaining the $60,000 level.
Analyst Michaël van de Poppe suggests that if Bitcoin closes around $60K for the month, it may signal consolidation before a bull breakout. However, the price is nearing a supply zone between $61,616 and $62,477, with potential rejections that could push it below $60,000.
The Awesome Oscillator remains negative, signaling bearish momentum. BTC may not face a double-digit correction but could drop to $60,499. Increased ETF inflows and long-term holder accumulation could, however, drive prices to $63,205 or $67,058.
Source: beincrypto.com ↗
Similar articles (104)
Bitcoin analysis warns BTC price risks 2023 rerun when stocks shed 10%
Bitcoin analysis warns BTC price risks 2023 rerun when stocks shed 10%
Bitcoin analysis warns BTC price risks 2023 rerun when stocks shed 10%
Bitcoin realized price rejections hint BTC price ‘weakening’ — Analyst
Bitcoin realized price rejections hint BTC price ‘weakening’ — Analyst
Bitcoin Price Poised for a Weak September, Analysts Say
Bitcoiners should be wary of final dip 'before another leg up' — Analyst
Bitcoin price eyes 'last dip' before October breakout: Analysts
Bitcoin Price Hits Spooky Season Stutter as Analysts Warn of Correction
Is This Bitcoin’s Last Big Drop? Expert Points To Key Indicator
Bitcoin Shakeout Ahead: Analysts Predict Final Dip Before Bull Run Resumes
Analyst Warns Of Bitcoin Market Shift: Are We Near A Major Sell-Off?
Bitcoin Analyst Predicts Market Capitulation Before Major Bullish Move
Critical Bitcoin Indicator: Analyst Foresees Major 75% Correction Ahead
Crypto Analyst Says The Bitcoin ‘Summer Chop’ Is Nearing Its End, Here’s Why
Analyst Says Bitcoin Is In A ‘Healthier’ Place Now, Here’s Why
3 Reasons Bitcoin Price Rally Is At Risk – Details
Bitcoin Sees 2 Consecutive Heikin Ashi Signals On The Weekly Chart, What This Means
Bitcoin Still At Risk Of Further Correction, CryptoQuant Head Says
Is Bitcoin (BTC) Demand Drying Up? Top Analyst Shares Details
Crypto Analyst Says This Is ‘The Moment’ For Bitcoin – What Does It Mean?
Stock Market Analysts Warned About Bitcoin (BTC): “The Uptrend Has Arrived, But In The Coming Days…”
Bitcoin Price Prediction: Key Levels, Upcoming Movements And Trends Explained
Analysts See Bitcoin Rebounding
Bitcoin Analyst Predicts Recovery
How Will Bitcoin (BTC) Price Move in the Coming Days? Deribit Analysts Explained!
Bitcoin Analysts Expect Year-End Recovery
Analyst Says Bitcoin (BTC) Bull in Danger Points to End of August!
Bitcoin Price Analysis: Here’s What Next For BTC Price
What is the Latest Situation in Bitcoin (BTC)? Will the Rise Continue or Will There Be Another Correction? Analysts Evaluated!
Analyst Says Bitcoin's Decline Will Continue, Answers the Question "What is Needed for the Rally to Start?"
Why Bitcoin might fall before it flies high again
Here Is Why You Should Not Sell Your Bitcoin! Top Analyst Weighs In
Bitcoin Price Prediction: What to Expect Next Amid Strong Spot Selling Pressure?
Bitcoin Analyst Sees Recent Pullbacks as Bullish Signal
Could Bitcoin Defy the Bears? Top Bitcoin Analyst Points to Past Patterns for Hope
Bitcoin Rally or Final Capitulation? Top Analyst Reveals Key Scenarios To Watch
Analysts Say Bitcoin's Decline is Short-Lived, and Predict How Long the Decline Could Continue!
Bitcoin Price Analysis: Expert Predicts Bullish Breakthrough Post-Japan Crash!
Bitcoin Price Prediction: A Major Drop or a Massive Reversal? Here’s What Experts Say!
Will the Bitcoin Price Decline Continue or Will it Rebound? Here’s What the Analytics Company Says
What's Next for Bitcoin? Rise or Fall? Analysts Explained!
Will Bitcoin Continue to Rise? Analysts Share Their Expectations: "Above This Level Starts the Bullish Rise, Below Extends the Decline!"
Bitcoin’s bearish reversal? Analyst predicts BTC’s drop based on THIS
Bitcoin analyst eyes a rebound based on THIS historical pattern
Analysts Offer Mixed Forecasts for Bitcoin
Bitcoin: Analyst predicts a BTC rally based on THIS historical cycle
Analyst Sees Bitcoin’s Imminent Upswing
Analysts Debate Bitcoin’s Price Trajectory
Is Bitcoin Bullish Despite Pullback Or Will It Plunge By Over 30%: Analysts Predict
Analysts Forecast Bitcoin’s Imminent Rise
“The Next Few Days Are Crucial for Bitcoin,” Analyst Says, Reveals Critical Level to Maintain
Analyst Warned! "The Rise in Bitcoin May Be Short-Term! This Date Should Be Expected for the Rise!"
Bitcoin is Soaring: So What Do Analysts Expect Next? Up or Down?
Bitcoin price is ‘undervalued’: Analysts see opportunity despite bearish trends
Analysts Predict Bitcoin’s Next Trends
Analytics Company Claims Bitcoin Could Be Entering a Bear Market: Shares Three Key Scenarios
Bitcoin Analysts Predict Potential Price Surges
‘Just be thankful Bitcoin exists,’ say analysts as BTC dreads $30K drop
Bitcoin to rally if THIS condition is met, per analyst
Analysts Say “We Are Cautious Despite The Rise” In Bitcoin, Explained The Reason
After the Surge in Bitcoin, Analysts Reveal What They Expect Next
Analysts Discuss BTC’s Direction After Bitcoin Price Plunge
Is Bitcoin Price Correction Over?
Bitcoin Pullback Sets Stage for Parabolic Move, Says Analyst
Will Bitcoin’s Upward Trend Continue? Analysis Company Shares Their Views
Will Bitcoin (BTC) Crash Again? Key Data Predicts What’s Next
Will Bitcoin Recover from Recent Price Drop?
Analysts Warned: "Bitcoin May Have Peaked!" Here's Why!
Analysts Predict Potential Bitcoin Price Decline
Analysts Discuss Bitcoin’s Recent Performance and Market Signals
Analysts Offer Insights on Bitcoin and FTM Coin’s Potential
Market Trends Indicate Potential Bitcoin Price Surge
Analysts Warn About Bitcoin Price Decline
Bitcoin Analysts Reveal Potential Price Paths that Ignite Hope
Analysts Provide Insights on Bitcoin Market Trends
Analyst Predicts Potential Bitcoin Market Recovery
Analysts Predict Bitcoin’s Price Decline
Bitcoin Analysts Predict a Recovery by Year-End
Analysts Predict Bitcoin’s Future Amid Market Fluctuations
Market Analysts Anticipate New Bull Trend After Liquidation Events
Analyst Discusses Bitcoin’s Struggles with Resistance Levels
Analysts Discuss Bitcoin’s Recent Performance and Market Signals
Analyst Predicts Potential Trend Reversal in Bitcoin Monthly Chart
Crypto Analysts Predict Bitcoin’s Potential Dips and Rises
Analysts Predict Bitcoin’s Bull Run to Reach New Heights
Crypto Strategist Alerts Market Players about Bitcoin’s Price Support Level
Analyst Addresses Bitcoin Sellers as Price Fluctuates
Bitcoin (BTC) Heading for a Massive Crash? Analyst Warns of Critical Support Levels Amid Bearish Trends
Bitcoin (BTC) Faces Potential 25% Decline Amid Analyst Warning
Could Bitcoin (BTC) Experience Short-Term Support Retests Amidst Mixed Market Sentiment?
Bitcoin Rally Concerns: Analyzing Momentum Indicators and Market Trends for Future Price Movements
Bitcoin Bull Market Predicted: Analysts Highlight Key Entry Points and Mining Profitability
Bitcoin Faces Increased Volatility and Potential Bear Market, Warns Analyst
Bitcoin Facing Bearish Signals as Market Awaits Pre-Bull Correction
Bitcoin’s Potential Shift: Navigating Bearish Trends and Key Resistance Levels as Weekend Volatility Approaches
Bitcoin Analyst Sensei Highlights Potential Bear Trap Amid Market Corrections
Could Bitcoin’s Recent Decline Hint at Future Trends Amidst Evolving Economic Conditions?
Bitcoin’s Ongoing Frustration: Analysts Warn of Continued Market Stagnation
Bitcoin (BTC) Analysts Warn of Possible Trend Reversal Amid ‘Interesting’ Monthly Candle Formation
Could Bitcoin’s Recent Pullback Signal Opportunities for Recovery Amidst Altcoin Struggles?
Bitcoin’s August Slump: Analysts Predict Recovery Post-Election Year Patterns
Could Bitcoin (BTC) Face a Notable Price Decline? Analyzing Key Levels and Market Sentiment
Cryptocurrency Strategist Bluntz Predicts Bitcoin (BTC) Drop Before Major Rally
