Big Withdrawal in Bitcoin Could Signal a New Rally

Following sharp declines in the cryptocurrency markets, a total of $750 million has been withdrawn from cryptocurrency exchanges, led by Bitcoin (BTC), marking the highest amount since May 2023. This withdrawal was particularly made by Bitfinex and Kraken exchanges. Withdrawal from High Level While the price of Bitcoin reached an all-time high, investor enthusiasm increased. However, due to the trend of withdrawal from risky assets, the Bitcoin price dropped to below $70,000 to $65,565. Other cryptocurrencies such as Ethereum, Shiba Inu, and XRP followed a similar downward trend. Although signs of slowing in the US economy are observed, inflation reports indicating that the Federal Reserve will not rush to lower interest rates opened the way for declines in stocks and cryptocurrencies. Low interest rates usually increase the attractiveness of cryptocurrencies. Support and Resistance Levels Cryptocurrency expert Ali Martinez indicates that there is a support range between $64,750 and $66,700, and […]

Big Withdrawal in Bitcoin Could Signal a New Rally

Following sharp declines in the cryptocurrency markets, a total of $750 million has been withdrawn from cryptocurrency exchanges, led by Bitcoin (BTC), marking the highest amount since May 2023. This withdrawal was particularly made by Bitfinex and Kraken exchanges.

Withdrawal from High Level

While the price of Bitcoin reached an all-time high, investor enthusiasm increased. However, due to the trend of withdrawal from risky assets, the Bitcoin price dropped to below $70,000 to $65,565. Other cryptocurrencies such as Ethereum, Shiba Inu, and XRP followed a similar downward trend.

Although signs of slowing in the US economy are observed, inflation reports indicating that the Federal Reserve will not rush to lower interest rates opened the way for declines in stocks and cryptocurrencies. Low interest rates usually increase the attractiveness of cryptocurrencies.

Support and Resistance Levels

Cryptocurrency expert Ali Martinez indicates that there is a support range between $64,750 and $66,700, and if it falls below this level, attention will be drawn to the next significant demand range between $60,760 and $62,790. On the other hand, Bitcoin faces a strong resistance between $70,180 and $71,340.

While the future price movements of Bitcoin remain uncertain, data suggests that the cryptocurrency could reach new highs.

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how to buy crypto?
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