- Bitcoin again reaches the $35,000 level.
- $32,500 might be the next stop predicted by the traders.
- Bitcoin (BTC) investors are in fear.
On Friday, Bitcoin (BTC) again reaches low the $35,000 level after the comment from the US Federal Reserve about an interest rate.
Moreover, US Federal Bank said about the chance of a rise in interest rates. Due to this Bitcoin and traditional markets experienced another dip. So, there will be a downturn for BTC have been many discussions on a possible death-cross. Traders warned by the Twitter user @infonataliya about the downturn and strong bearish signal.
Henceforth, now the pulled Bitcoin (BTC) price below the critical support at the $36,000 level. $32,500 might the next stop predicted by the traders before it comes to a low of $30,000.
Hence more, the fore mentioned technical factors combined with negative headlines have traders feels anxious about the current loss in the price of Bitcoin (BTC). More particularly after the news of China mulls banning BTC mining activities and the rug pulls on the Iron Finance protocol.
Adding to this, Multifactorial Crypto Market Sentiment Analysis, Fear& Greed Index has dropped to 25. And continues with extreme fear over the last month. The fear and greed index measured on a daily, weekly, monthly, and yearly basis. The index used to find whether the stock market fairly priced.
Even more, the investors who invested in Bitcoin are in fear, and some of the traders who bought Bitcoin (BTC) during the March and May highs, now selling at loss. Accordingly, the total supply of Bitcoin held by long-term holders continues to become more after reaching a low in mid-may.
According to Crypto Twitter analyst, William Clemente III, the data on recent on-chain specifies that BTC is oversold. Also, he added, now sits on historically important inflection points for major on-chain indicators”.
Therefore, in recent Bitcoin whale acquires 90,000 Bitcoin and long-term holders continue to increase their Bitcoin balances
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