Skip to main content

Trader Issues Bitcoin Alert, Says BTC ‘Doesn't Look Great' After Double-Digit Percentage Fall From All-Time High

Monthly Chart Shows Weakness for BTC
Altcoin Sherpa, a popular crypto strategist and trader, has raised concerns about Bitcoin's recent price action. According to the monthly chart, BTC has shown weakness after experiencing a 13% drop from its all-time high. This has led to discussions and debates among the crypto community, with many keeping a close eye on the market's movements.

Key Support Levels for Bitcoin
As BTC continues to trade around $94,000, many are wondering where the support levels lie. Altcoin Sherpa suggests that the key support levels to watch out for are $85,000 and $80,000. These levels could potentially act as strong buying zones for traders looking to enter the market. However, if BTC fails to hold these levels, it could lead to further downside movement.

Impact of Rising Interest Rates
One factor that could be contributing to BTC's weakness is the rising interest rates in the market. As traditional financial markets continue to see a surge in interest rates, it could potentially impact the sentiment towards Bitcoin and other cryptocurrencies. Altcoin Sherpa advises investors to keep a close eye on the global economic landscape and its impact on the crypto market.

Twitter Reacts to BTC's Price Action
As Bitcoin's price remains in the spotlight, Twitter is buzzing with discussions about the market's movements. Crypto enthusiasts and traders are using hashtags such as #Bitcoin, #BTC, and #Crypto to share their thoughts and predictions on the future of BTC. Some are optimistic about a potential rebound, while others are more cautious, waiting for confirmation of a strong uptrend before entering the market.

Final Thoughts
In conclusion, Altcoin Sherpa's warning about Bitcoin's weakness on the monthly chart should not be taken lightly. As the market remains uncertain, it is essential for investors to do their due diligence and closely monitor BTC's price movements. Additionally, keeping an eye on global economic factors and market sentiment can also provide valuable insights into the future direction of BTC and the wider crypto market.


Sentiment Result: Negative

Image
Labels:

Comments

Post a Comment

Popular posts from this blog

Bitcoin Price Recovers After Fed Announces No Rate Hike At FOMC

📈💰The Federal Reserve announced today that it will maintain its current interest rates, citing a strong job market and moderate economic growth. This decision comes as no surprise to those in the crypto community, as many have been anticipating this outcome for weeks. However, this news may have some investors feeling slightly disappointed, as they were hoping for a rate cut to boost the market.💸💻Crypto tickers such as BTC, ETH, and XRP have been trending upwards in recent weeks, with many investors hoping for a continued bull run. However, with the Fed's decision to keep interest rates steady, some may be wondering if this will have a negative impact on the market. While it's impossible to predict the exact effect on crypto prices, it's important to remember that the Fed's decision is based on a variety of factors and not solely on the crypto market.📉🌎The Fed's decision also has implications for the stock market, with many investors closely watching the anno...
Post a Comment
Continue Reading »

Crypto Talkies June 18th 2025

As we draw curtains on another bustling day in the cryptocurrency world, fresh developments are unfolding across the globe that continue to redefine the contours of digital finance. JD.com is making headlines with its ambitious plan to modernize cross-border payments by leveraging stablecoins. By pursuing global stablecoin licenses, JD.com aims to slash transaction costs by up to 90% and revolutionize settlements, aligning with China's dynamic digital yuan initiatives. Meanwhile, Ark Invest, helmed by Cathie Wood, has opted to cash in on some of its gains by selling over $96 million in Circle (CRCL) shares. The decision comes after Circle's shares soared post-IPO, reflecting lucrative market moves and investor strategies amidst evolving regulatory landscapes. However, the day wasn't without its setbacks. Iran's largest crypto exchange, Nobitex, faced a staggering $48 million security breach on the Tron network. The exploit, characterized by attackers using vanity addr...
Post a Comment
Continue Reading »

Crypto Talkies June 19th 2025

As the evening sets in, let's dive into today's world of crypto with our Crypto Talkies. The backdrop of uncertainty has taken its toll on Bitcoin exchange-traded funds (ETFs), as investors show signs of caution with a notable 47% decline in inflows, totaling over $200 million on Tuesday. However, spot Bitcoin ETFs aren't backing down from substantial trading volumes, with BlackRock's iShares Bitcoin Trust making headlines with impressive investments (BTC). In the realm of aged assets, Fidelity Digital Assets spotlight a trend of rising scarcity. The ancient Bitcoin, untouched for over a decade, is now surpassing newly mined coins. This scenario hints at possible significant gains, with institutional interest pondering whether BTC's value might one day reach the coveted $1 million mark. Iran's crypto exchange, Nobitex, fell victim to a hefty $82 million hack, allegedly orchestrated by Israeli hackers. This breach highlights vulnerabilities and might exacerbate...
Post a Comment
Continue Reading »