Bitcoin long liquidations hit $300M as BTC price falls to $62K

August 2, 2024 Coin Telegraph

Bitcoin

A flash crash in Bitcoin price on shorter timeframes induces panic among leveraged long traders, but analysts believe it’s a short-term pullback.

Bitcoin (BTC) fell over $1,600 in 60 minutes on Aug. 1 as a wave of volatility disrupted the market.

Data from Cointelegraph Markets Pro and TradingView showed a nightmare for long traders unfolding on Aug. 1, as BTC suddenly dropped from $64,000 to $62,800.

At the time of publication, the losses were still mounting after the BTC/USD pair hit lows of $62,212 at Coinbase, levels last seen two weeks ago.

This Catalyst Could Trigger ‘Violent’ Bitcoin Surge to Hundreds of Thousands of Dollars: Bitwise CIO Matt Hougan

Bitcoin Network Faces Toughest Mining Difficulty Increase Since 2022

July 31, 2024 Bitcoin.com

Bitcoin

The Bitcoin network has recently experienced its most significant difficulty adjustment since October 2022, with a 10.5% increase driving the metric to a record 90.67 trillion. This heightened challenge, combined with falling bitcoin prices, is intensifying the strain on miners. Miners Struggle as Bitcoin Difficulty Reaches New Peak On Wednesday, at block height 854,784, Bitcoin’s […]

This Catalyst Could Trigger ‘Violent’ Bitcoin Surge to Hundreds of Thousands of Dollars: Bitwise CIO Matt Hougan

Bitcoin ‘late longs’ washed out as BTC price falls to $65K

July 30, 2024 Coin Telegraph

Bitcoin

Bitcoin leveraged positions increased over the past week, and a portion of these late longs have been wiped out as BTC price dropped closer to $65,000.

Bitcoin bears extended the sell-side activity after the July 30 Wall Street open as the drop below $66,000 resulted in a large decrease in leveraged longs.

Data from Cointelegraph Markets Pro and TradingView showed Bitcoin (BTC) price trading at $65,798, down 2.3% over the last 24 hours.

This followed a series of failed attempts to rise above $70,000, suggesting that this area is important to bears.

This Catalyst Could Trigger ‘Violent’ Bitcoin Surge to Hundreds of Thousands of Dollars: Bitwise CIO Matt Hougan

Bitcoin analysis warns BTC price liquidations will start below $64K

July 30, 2024 Coin Telegraph

Bitcoin

BTC price losses mount as $66,000 struggles to function as support, increasing the danger of Bitcoin long liquidations.

Bitcoin risked losing $66,000 after the July 30 Wall Street open as a long liquidation event appeared on the horizon.

Data from Cointelegraph Markets Pro and TradingView showed Bitcoin (BTC) price action producing 1.5% losses on the day.

These followed a steeper rejection from $70,000, the latest in a series of failed attempts to flip the nearby area into support in recent months.

This Catalyst Could Trigger ‘Violent’ Bitcoin Surge to Hundreds of Thousands of Dollars: Bitwise CIO Matt Hougan

Bitcoin trader eyes $60K next as bears force fresh BTC price rejection

July 30, 2024 Coin Telegraph

Bitcoin

Bitcoin sees familiar BTC price behavior as bulls’ latest push to $70,000 lasts a matter of minutes.

Bitcoin (BTC) stayed lower into the July 30 Asia trading session after a swift rejection at resistance sparked a $4,000 BTC price drop.

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading around $66,500, circling the daily open.

The day prior had seen volatility throughout, with Bitcoin initially pushing to $70,000 but failing to hold it — an all-too-familiar sequence of events — instead falling by nearly 6% in a matter of hours.

This Catalyst Could Trigger ‘Violent’ Bitcoin Surge to Hundreds of Thousands of Dollars: Bitwise CIO Matt Hougan

US Government Transfers $2 Billion in Bitcoin to Unknown Wallet

July 29, 2024 Bitcoin.com

US Government Transfers Billion in Bitcoin to Unknown Wallet

Arkham Intelligence

According to onchain data, a Department of Justice (DOJ) labeled bitcoin wallet transferred 29,799.99 BTC, valued at just over $2 billion. This move by the U.S. government follows Germany’s sale of its bitcoin and a growing belief among U.S. politicians that seized coins should be held as reserves. DOJ-Labeled Wallet Transfers More Than 29,000 Bitcoins […]

This Catalyst Could Trigger ‘Violent’ Bitcoin Surge to Hundreds of Thousands of Dollars: Bitwise CIO Matt Hougan

BTC price dips 4.5% as US gov’t Bitcoin move raises new sell-off fears

July 29, 2024 Coin Telegraph

Bitcoin

Bitcoin falls below $67,000 in an abrupt change of trend after initially hitting $70,000 for the first time in nearly two months.

Bitcoin (BTC) faced major selling pressure after the July 29 Wall Street open as sellers firmly rejected a trip to $70,000.

Data from Cointelegraph Markets Pro and TradingView tracked a spate of distribution, which sent BTC price action down 4.5%.

After slowly gaining throughout both the weekend and first Asia trading session, BTC/USD lost momentum as Wall Street returned, going from local highs of $70,016 on Bitstamp to lows of $66,839.

This Catalyst Could Trigger ‘Violent’ Bitcoin Surge to Hundreds of Thousands of Dollars: Bitwise CIO Matt Hougan

How high can BTC price go after Trump’s bullish Bitcoin speech?

July 28, 2024 Coin Telegraph

Bitcoin

A Bitcoin analyst predicts the cryptocurrency's price could soar above $800,000 following Trump's promise to integrate it into the US's strategic reserves.

Donald Trump went all in on Bitcoin (BTC) in his latest keynote at the Bitcoin 2024 conference in Nashville, promising voters to make the United States “the crypto capital of the world."

He will do so by creating a national BTC "stockpile" and, in turn, making the cryptocurrency a "permanent national asset."

Naturally, Trump's electoral promises have triggered bullish responses from top crypto analysts, with some predicting BTC's price will grow tenfold in the future.

This Catalyst Could Trigger ‘Violent’ Bitcoin Surge to Hundreds of Thousands of Dollars: Bitwise CIO Matt Hougan

‘Feels surreal’ — Bitcoin sticks to $68K as market ignores 200K BTC US election pledge

July 28, 2024 Coin Telegraph

Bitcoin

BTC price gains fail to materialize as Donald Trump and others promise to build a giant Bitcoin strategic reserve if elected.

Bitcoin headed for a crunch weekly close on July 28 after markets shook off United States presidential candidates’ crypto pledges.

Data from Cointelegraph Markets Pro and TradingView showed the Bitcoin (BTC) price stabilizing after flash volatility around the Bitcoin 2024 conference.

Anticipation of a snap price surge had built far in advance of the event. Two presidential candidates, Donald Trump and Robert F. Kennedy Jr., both stated plans to build a strategic Bitcoin reserve of at least 200,000 BTC. However, the impact was muted.

This Catalyst Could Trigger ‘Violent’ Bitcoin Surge to Hundreds of Thousands of Dollars: Bitwise CIO Matt Hougan

BTC price inches up with US stocks as Bitcoin bulls fight for $65K

July 25, 2024 Coin Telegraph

Bitcoin

Bitcoin sees a round of automated selling as BTC price vies with battered US stocks for a short-term recovery.

Bitcoin (BTC) revisited $65,000 after the July 25 Wall Street open as United States equities recovered from their worst day since 2022.

Data from Cointelegraph Markets Pro and TradingView showed a BTC price rebound following initial sell-side pressure.

This was in the form of trading algorithms, popular trader Skew said on the day, while highlighting one entity in particular whom he dubbed an “aggro seller.”

BTC price

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