Bitcoin

The recent sharp decline in Bitcoin prices has sparked numerous theories. One such theory involves Grayscale, a major player in the cryptocurrency market. However, the company denies any direct involvement in the price drop and has shared its own theories. So, what do experts think about the recent price fluctuations?

Following FTX's bankruptcy, Bitcoin has experienced a significant drop in value, with analysts predicting potential further declines or a possible recovery. This article explores these predictions and their implications for the future of Bitcoin.

As a leading asset management firm with a long-standing interest in cryptocurrencies, Fidelity manages trillions of dollars in client assets. Fidelity's expansion in the crypto space is positive for the markets in the long run, but short and medium-term risks remain irrespective of the association of names like BlackRock or Fidelity with crypto.

Bitcoin's price has taken an unexpected dip, causing a stir among investors. However, those who have been closely following the market trends were not caught off guard. The panic selling indicates that many investors followed the herd, despite the lack of any significant event. The sell-off in the U.S. stock market during the week has had a clear impact on the crypto market, accompanied by a series of bad news, as is typical during a downturn.

Bitcoin, the largest cryptocurrency by market value, saw a major decline on Friday. In the past 24 hours, BTC dropped from around $29,000 to $25,166. According to Coinglass data, over $1 billion worth of positions were liquidated during the sell-off. The amount of Bitcoin liquidated was the highest seen in a single day since the market turmoil in June 2022. Within the past 24 hours, $500 million worth of BTC positions were liquidated, with $375 million of that coming from Long positions.

Bitcoin experienced a drop after a significant long position liquidation and fell to the level of $25,200. The direction of the price will be determined based on daily closings above $26,000. In a positive scenario, the levels of $27,400 and $28,600 are targeted, while closings below $26,000 can deepen the decline.

The bankruptcy application of Chinese real estate giant Evergrande has shocked the crypto market and raised concerns due to its connection with Tether.

Are the legal problems and regulatory challenges faced by Binance increasing negative sentiments around the exchange? Is it losing its dominance?