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What’s Preventing Bitcoin’s (BTC) Price from Reaching $70,000? How Long Will It Stay Under $65,000?

The crypto markets are becoming uncertain of the next price action as the top token, Bitcoin, has been shadowed under misty clouds. The bulls and bears exert equal pressure, causing the price to remain consolidated within a narrow range. With the price advancing towards the second half of the month, more bearish action is expected to occur, which could shake up the BTC price rally and the entire crypto market...

BlackRock, Fidelity Combined Hold Almost 2.5% of Total BTC Supply in Their ETFs

BlackRock’s IBIT and Fidelity’s FBTC funds combined account for 2.5% of the total Bitcoin supply, representing over US$30 billion. IBIT holds 347,766.96 BTC worth US$20.32 billion, doubling the BTC count of Fidelity’s FBTC. Institutional investors like governments, public and private companies, and funds now hold a substantial and increasing share in the global Bitcoin market. BlackRock’s iShares with its IBIT and Fidelity’s Wise Origin Bitcoin FBTC funds now account for...

Bitcoin Technical Analysis: BTC Struggles Amidst Bearish Pressure, Eyes Key Support Levels

Bitcoin’s price on August 12, 2024, stands at $59,777, with intraday 24-hour prices ranging between $57,814 and $61,054. The cryptocurrency’s market capitalization is $1.16 trillion, supported by a 24-hour trade volume of $29.81 billion. As bitcoin navigates this challenging environment, technical indicators reveal continued bearish momentum, testing the resolve of bullish investors. Bitcoin The 1-hour chart reveals a pronounced bearish trend, with bitcoin’s price declining from $61,868 to approximately $57,681...