Author: driver789
Bitcoin’s sharp decline over the weekend has likely pushed the aggregate investor position in the largest spot Bitcoin exchange-traded fund (ETF) into negative territory, underscoring the severity of the recent downturn.According to Bob Elliott, chief investment officer at asset manager Unlimited Funds, the average dollar invested in BlackRock’s iShares Bitcoin Trust (IBIT) is now underwater following Friday’s close. The shift coincided with a steep drop in Bitcoin’s (BTC) price, which slid into the mid-$70,000 range. Source: Bob ElliottElliott shared a chart tracking aggregate, dollar-weighted investor returns, showing cumulative gains slipping slightly into negative territory as of late January.The data suggest…
Bitcoin’s price sank sharply over the weekend, sliding below $78,000 — its lowest level since April — as profit-taking collided with thinning liquidity and a scarcity of fresh buyers. Traders told CoinDesk that a rally once backed by corporate demand, particularly from Strategy’s (MSTR) bitcoin purchases, has run out of steam, leaving markets vulnerable to forced selling and derivative liquidations.For some market analysts, Saturday’s slide fits into a broader bearish pattern that has been emerging for months. Eric Crown, a former options trader at NYSE Arca, has argued since late October that bitcoin is in a sideways-to-downside phase, and that…
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The XRP price was caught in the latest crypto market-wide selloff, falling to an intraday low of $1.57 within the past 24 hours. The sudden drop brings into focus XRP’s higher-timeframe structure, which is teasing a break below the 33-month exponential moving average. According to a technical assessment shared on X by crypto analyst Egrag Crypto, the recent drop below the 33-month exponential moving average does not automatically signal the end of XRP’s cycle, but XRP must close above an exact level to avoid a macro bearish confirmation. Related Reading The 33 EMA Breakdown Signal At the time of writing,…