HomeBitcoinBitcoin is under pressure to be sold after reaching its highest value...

Bitcoin is under pressure to be sold after reaching its highest value ever.

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  • The price of Bitcoin dropped to $64,522 after reaching highs, and there is pressure to sell.
  • The US Bitcoin ETF is being bought and people are still hopeful even though the price of BTC has gone down by 12%.
  • Worries about the $4,000 difference in future prices, but optimism for a strong start to the week.

Bitcoin’s price dropped a lot, reaching a new low of $64,522 on Bitstamp, according to TradingView. After reaching all-time high prices, the cryptocurrency faced a lot of people selling it, causing the price to drop and not recover. The trend of selling increased before the weekly candle closed. People were waiting to see what would happen next.

Famous trader Skew gave some ideas about where people might want to buy and sell on big stock markets. He looked at prices between $60,000 and $64,000. Skew noticed that most of the selling came from people selling on the market. This was especially obvious when the price reached $74,000, and a lot of selling was seen on Coinbase and Binance. However, Skew also noticed that some companies were investing a lot of money at low prices, which helped to increase prices in the short term.

Bitcoin’s bull market correction and market sentiment

The price of Bitcoin dropped by about 12% from its highest point. Even though the market is not doing well, some people are still positive about it. They say that people in the United States are still buying Bitcoin exchange-traded funds (ETFs), which will start again on March 18th. Thomas Fahrer, the boss of a website that reviews cryptocurrencies called Apollo, said he believes the market will bounce back. He called the current situation a “Bear Trap. ” Fahrer also talked about how big companies might start investing a lot of money in BTC in the next few months.

Potential for early-week comeback and futures gap concerns

With more than 12 hours left until the week ends, some people in the market are feeling positive about a possible comeback early in the week. However, people are also paying attention to the big difference in the price of Bitcoin futures, which is almost $4,000. Bitcoin’s price is still changing a lot, which makes people want to trade and invest. But there are also worries about gaps in futures trades that haven’t been filled yet. This makes it hard to know what will happen to the price in the near future.

Bitcoin’s price has been changing a lot and many people are selling it after it reached its highest price ever. Even though the market went down by about 12%, people still feel okay about it. They think that big investors will keep being interested and buying Bitcoin. Still, there are things we’re not sure about, especially when it comes to how not completing certain things in the future might affect the overall economy.

Warning: This is not advice for trading.

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