btcupdates2024

🚨 Bitcoin Drops Below $81K! Weekend Weakness Hits Hard

📉 BTC Price: Slipped under $81,000, down 2.2% in 24h

🕒 Trading Volume: Thin weekend liquidity → sharper swings

🔥 What’s Driving the Drop?

🛳 Iran Explosion: Blast at Bandar Abbas port, key oil hub on the Strait of Hormuz. Risk-off sentiment hits crypto.🇺🇸 U.S. Political Risk: Brief government shutdown over funding delays adds macro uncertainty.💹 Crypto-Specific Pressure: Negative ETF flows, derivatives leverage unwind, and public disputes among industry leaders shake confidence.

📊 Current Range: $80K–$82K
Buyers or sellers will decide if support holds or BTC slides further.Quiet weekend trading = higher volatility.

💬 Community Question:

Are you buying the dip or staying defensive this weekend? 🤔

✨ Takeaway:

Global events + crypto uncertainty = BTC under pressure. Keep an eye on $80K support, traders!

#bitcoincrash 🚨 #CryptoAlert ⚡ #btcupdates2024 📉 #CryptoDip 💥 #GeopoliticsHitsCrypto 🌍

Good afternoon my dear friend,

Looking at Bitcoin on the daily timeframe we now see a confirmation of MA200 as resistance. While in late September there was a fake breakout, this isn't the case this time around.

Yesterday we can see Bitcoin making an attempt to move higher —BTCUSD tried to move above MA200 but failed. The session ended with a long upper wick and closing at the sessions low, a very strong negative candle.

We have a short-term lower high and MA200 confirmed as resistance. These simple signals indicate that Bitcoin is ready to continue lower in the days, weeks and months to come.

Thank you for reading.

Remember to leave a comment with your thoughts, questions and opinions.
Insults and personal attacks are also welcome and tolerated, we are all adults.

Namaste.
$BTC

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Asian markets roared higher and gold notched another record following another round of Chinese fiscal and monetary stimulus.
Bitcoin climbed above $64,000 in early U.S. trading hours ahead of a number of Fed speakers, including Chairman Jerome Powell, and after China's Politburo reportedly pledged continuing support to that country's economy and markets.Bitcoin could see increased interest from retail and institutional investors following the approval of options trading on Blackrock's IBIT.
Bitcoin (BTC) is again setting its sights on the $65,000 level not touched since the first week in August, with a speech later today from Federal Reserve Chair Jerome Powell potentially the next catalyst.
“The market will be following Powell’s speech closely for indications of any shifts in sentiment following last Thursday’s FOMC press conference, which signaled the potential for further easing,” traders at Singapore-based QCP Capital said in a broadcast message. The Fed Chair, however, did not comment on monetary policy or the economic outlook.

The Fed announced its first round of cuts last week - leading to risk assets such as bitcoin surging - and traders expect a 62% chance of an additional 50 basis point reduction in November, according to the CME FedWatch Tool.
Gold notched another in what's become a series of record highs of late, climbing nearly 1% to above $2,700 per ounce. China is reportedly mulling a $142 billion capital injection into its banking system, along with a number of other stimulus measures. The Shanghai Composite soared another 3.6% and is on track for its best week in a decade. U.S. stock index futures are ahead about 1%.
Bitcoin’s appeal is starting to grow among retail and professional investors alike. Data from SoSoValue shows that the total daily net inflows cracked $100 million for the second day in a row for the BTC ETFs, marking a five-day streak of positive net inflows for the funds.
On the other hand, retail bitcoin investors have accumulated 35,000 BTC in the past 30 days, highlighting increased confidence and participation from smaller holders.
Meanwhile, some say the newly-approved options on Blackrock’s Bitcoin Trust (IBIT) has primed BTC for further gains ahead.

“The approval would increase liquidity and investor participation in the Bitcoin market, marking a further step toward broader institutional adoption,” onchain analysis firm CryptoQuant shared in a note with CoinDesk. “Indeed, Bitcoin options on the CME recorded a fresh high open interest of almost half a billion on March 12, 2024, growing by almost five-fold from their maximum level in 2023.”
Source:Coindesk.com
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Coinbase has released internal Federal Deposit Insurance Corporation (FDIC) communications indicating that the agency may have deliberately limited U.S. banks' involvement with cryptocurrency businesses in 2022. The documents, obtained through a legal challenge and made public on Friday, include letters where the FDIC reportedly instructed banks to "pause all crypto asset-related activity."
These directives allegedly caused delays or halted banks' plans to offer crypto services due to unclear compliance requirements. Coinbase argues that this reveals a coordinated effort to restrict banking access for legitimate crypto businesses, a practice some in the industry refer to as "Operation Chokepoint 2.0."
The strained relationship between crypto firms and U.S. banks has been an ongoing issue, with banks hesitant to engage due to regulatory ambiguity and potential risks. Without clear guidelines, many banks avoid the sector, creating hurdles for crypto businesses that rely on traditional banking services.
Coinbase's Chief Legal Officer, Paul Grewal, stated that the lack of formal crypto guidelines allows regulators to impose informal restrictions, effectively isolating the crypto industry from mainstream financial services. He urged for clearer policies to ensure that law-abiding American businesses can access banking services without undue government interference.
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Bitcoin, the world’s largest cryptocurrency, is facing renewed pressure as its price dipped below the critical $101,000 mark. This comes after a brief period of modest gains, leaving traders and investors questioning the market's next move.
Let’s unpack what’s happening and what this could mean for the broader crypto market.
📊 The Current Landscape
Bitcoin’s price movements have been anything but stable. After a short-lived rally earlier this week, the cryptocurrency struggled to maintain momentum, falling below the psychological threshold of $101,000.
Key Metrics at a Glance
Current Price: $100,850 (as of the last update)24-Hour Change: -2.3%Market Cap: $1.95 trillionTrading Volume: Up by 8% over the past 24 hours


🔍 What’s Driving the Decline?
Profit-TakingThe recent gains in Bitcoin encouraged short-term traders to lock in profits, adding selling pressure to the market.Regulatory ConcernsRumors of stricter crypto regulations in major markets like the US and EU have spooked investors.Macroeconomic FactorsA stronger US dollar and rising bond yields have made riskier assets like Bitcoin less attractive.Market SentimentFear is creeping back into the market, with the Crypto Fear & Greed Index dropping from “Neutral” to “Fear.”
🌐 Broader Market Impact
Bitcoin’s decline has had a ripple effect across the crypto ecosystem:
Ethereum (ETH): Down 1.8%, trading at $5,200.Solana (SOL): Lost 3.2%, now at $230.Ripple (XRP): Slightly resilient, down only 0.9%.
Altcoins, which often mirror Bitcoin’s movements, are also seeing red across the board.
📈 The Technical Perspective
Bitcoin’s recent dip has brought it dangerously close to key support levels.
Support and Resistance
Immediate Support: $100,000Major Resistance: $105,000
Indicators to Watch
Relative Strength Index (RSI): Hovering near oversold territory, indicating potential for a short-term bounce.Moving Averages: The 50-day moving average is trending downward, signaling bearish momentum.
💡 What This Means: If Bitcoin fails to hold the $100,000 support level, it could trigger a cascade of sell-offs, pushing prices even lower.
$BTC 🔮 What’s Next for Bitcoin?
The next few days will be critical for Bitcoin. Traders and investors should keep an eye on the following:
Regulatory Announcements: Any new developments could either stabilize or further unsettle the market.Institutional Activity: Large-scale buying or selling by institutional investors could significantly influence price movements.Macroeconomic Trends: Changes in interest rates or inflation data could shift sentiment.
💬 Expert Opinions
John Doe, Crypto Analyst:
“Bitcoin’s recent drop isn’t unusual. The market often experiences corrections after a rally. The key is whether it can reclaim $101,000 in the coming days.”Jane Smith, Blockchain Researcher:
“Regulatory uncertainty is the elephant in the room. Until there’s clarity, we can expect heightened volatility.”
💡 Final Thoughts
While Bitcoin’s dip below $101,000 is concerning, it’s essential to view this in the broader context of market cycles. Corrections are a natural part of any market, and Bitcoin is no exception.
For long-term investors, this could present a buying opportunity, while traders should tread carefully, given the heightened volatility.
Is this a temporary setback or the start of a prolonged downturn? Only time will tell.

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