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Bitcoin (BTC) Price Teeters Below Key Support: Is $60,000 Next?

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History shows that Bitcoin (BTC) price correction is inevitable whether it is a bull market or not. However, this cycle has been different, especially as BTC reached a new all-time high before the halving in April.

Since the boom in the first quarter of 2024, the cryptocurrency’s price has been downhill. On-chain analysis dives into Bitcoin’s price prediction. Will respite appear, or are we in for another round of decline?

Bitcoin Slides Down Crucial Point

In Q1, the inflows into the approved Bitcoin ETFs drove the price to $73,750. Over the past few months, there has been a dearth of institutional capital. Thus, the ETFs no longer dictate the direction of the coin. 

Instead, the activities of Short-Term Holders (STH) move BTC. STH refers to investors who purchased Bitcoin within the last 155 days. To assess Bitcoin’s potential in the short term, we will analyze the STH Realized Price.

The STH-Realized Price, also known as the on-chain cost basis, refers to the average price of the STH supply, valued at the period each coin last transacted on-chain.

As of this writing, BTC trades at $62,367. However, according to Glassnode, the STH-Realized Price is $64,410.

Read More: Who Owns the Most Bitcoin in 2024?

Bitcoin falls to correction
Bitcoin STH Realized Price. Source: Glassnode.

Historically, when the metric falls below the coin value, it supports the price. Hence, it leads to a higher value within a short period. On the other hand, a rise above Bitcoin’s price leads the cryptocurrency to a further decline.

BeInCrypto found evidence of this after examining the performance in 2018 and 2021. For instance, in December 2021, the STH Realized Price was $52,967. At that time, BTC changed hands at $50,492.

In less than two months, the price fell to $42,721. In January 2018, it was no different, with a Realized Price of $11,012 and BTC at $9,965. Before March, the price plunged to $7,852.

Whales, Retail Pass Vote of No-Confidence

Should Bitcoin fail to rise above the metric mentioned above, a further decline toward $60,000 could be next. While Bitcoin’s price has been falling for some time, whale accumulation has prevented it from another notable correction.

However, that position seemed to have changed based on the Balance By Holdings indicator. This on-chain metric tells if holders are adding to their balance and selling some coins. But this time, it’s not just whales letting go of some of their coins. The retail cohort is doing the same.

In the last 30 days, addresses holding BTC worth $100 to $10 million have been selling. Using the basic laws of demand and supply, these sell-offs put Bitcoin at risk of a major decline. 

Bitcoin balances decrease
Bitcoin Balance By Holdings. Source: Glassnode

Meanwhile, Checkmatey, a pseudonymous analyst, posted on X that consolidation and correction are necessary before the price increases again.

“After 18 months of pure up-only price action, a period of several months of consolidating and correcting is not only expected but required.” He wrote. 

BTC Price Prediction: No Support in Sight

On the 4-hour timeframe, Bitcoin mirrors a pattern that led to a price decrease on June 12. Around that time, BTC fell from $69,747 to $66,633. On June 20, a similar thing occurred as the price dropped from $66,292 to $63,811.

Validation of the movement may send BTC to $61,560 for a start. If bulls fail to defend this, the coin’s price might slip below the $60,000 threshold.

Further, the Aroon indicator suggests a decline. The Aroon indicator allows traders to identify the direction in which a cryptocurrency trends. The indicator is divided into — Aroon Up (orange) and Aroon Down (blue).

When the Aroon Up is higher, it means the price will move upward. Conversely, the price will decrease if the Aroon Down outpaces its opposite number. At press time, the Aroon Down is much higher, indicating that Bitcoin will continue to fall.

Read More: What Is a Bitcoin ETF?

Bitcoin looming downtrend
Bitcoin Analysis. Source: TradingView

However, inflows in Bitcoin ETFs can invalidate this prediction. Last week, the financial products registered a net outflow, helping to put downward pressure on BTC’s price. 

If capital flows into the products this week increase, Bitcoin will rebound. Another possible catalyst is retail participation and network growth. Compared to previous bull markets, the coin lacks these. The decreasing number of new unique addresses shows proof of this.

Should an influx of retail market participants start to buy BTC in large numbers, the price may not fall to $60,000. Instead, it may bounce to $66,000 or $67,000 in the short term.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Strategy Adds 22,048 BTC for Nearly $2 Billion

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Michael Saylor announced that Strategy purchased nearly $2 billion worth of Bitcoin. This is a massive leap over last week’s purchase, which was already quite substantial.

Nonetheless, the firm was only able to make this acquisition thanks to major stock offerings. Bitcoin’s price has been sinking over the last few weeks, and this could mature into a potential liquidation crisis.

Strategy Maintains Bitcoin Purchases

Since Strategy (formerly MicroStrategy) began acquiring Bitcoin, it’s become one of the world’s largest BTC holders. This plan has totally reoriented the company around its massive acquisitions, inspiring other firms to take up the same plan.

Today, the firm’s Chair, Michael Saylor, announced another purchase, much larger than the last few.

“Strategy has acquired 22,048 BTC for ~$1.92 billion at ~$86,969 per bitcoin and has achieved BTC Yield of 11.0% YTD 2025. As of 3/30/2025, Strategy holds 528,185 BTC acquired for ~$35.63 billion at ~$67,458 per bitcoin,” Saylor claimed via social media.

Strategy’s latest Bitcoin acquisition, worth just shy of $2 billion, is a major commitment. In February, the firm made a similar $2 billion purchase, and it was followed by a tiny $10 million buy and a $500 million one. The $500 million purchase, which took place on March 24, only happened thanks to a huge new stock offering. This move further cements Strategy’s faith in BTC.

By making these billion-dollar buys, Strategy is able to buttress the entire market’s confidence in Bitcoin. However, investors should be aware of a few potential cracks.

First of all, Bitcoin’s performance is a little subpar at the moment. Despite hitting an all-time high recently, Bitcoin is having its worst quarter since 2019, and there is not much forward momentum.

Bitcoin (BTC) Price Performance
Bitcoin (BTC) Price Performance. Source: BeInCrypto

This could cause a unique problem for the company. Since Strategy is a cornerstone of market confidence, it is unable to offload its assets without jeopardizing Bitcoin’s price.

The firm’s debts are growing at a fast rate, and this could have dangerous implications if Bitcoin keeps falling. Strategy could be forced to liquidate, even if that seems unlikely now.

Still, it’s important to remember that these are only possible scenarios. Strategy has maintained its consistent Bitcoin investments for nearly five years, and it’s paid off tremendously well. However, if it keeps taking on billions in fresh debt obligations, this faith will turn into a gamble with very high stakes.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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BTC Price Rebound Likely as Long-Term Holders Reenter Market

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Bitcoin (BTC) is on track to end Q1 with its worst performance since 2019. Without an unexpected recovery, BTC could close the quarter with a 25% decline from its all-time high (ATH).

Some analysts have noted that experienced Bitcoin holders are shifting into an accumulation phase, signaling potential price growth in the medium term.

Signs That Veteran Investors Are Accumulating Again

According to AxelAdlerJr, March 2025 marks a transition period where veteran investors move from selling to holding and accumulating. This shift is reflected in the Value Days Destroyed (VDD) metric, which remains low.

VDD is an on-chain indicator that tracks investor behavior by measuring the number of days Bitcoin remains unmoved before being transacted.

A high VDD suggests that older Bitcoin is being moved, which may indicate selling pressure from whales or long-term holders. A low VDD suggests that most transactions involve short-term holders, who have a smaller impact on the market.

BTC: Value Days Destroyed. Source: CryptoQuant.
BTC: Value Days Destroyed. Source: CryptoQuant

Historically, low VDD periods often precede strong price rallies. These phases suggest that investors are accumulating Bitcoin with expectations of future price increases. AxelAdlerJr concludes that this shift signals Bitcoin’s potential for medium-term growth.

“The transition of experienced players into a holding (accumulation) phase signals the potential for further BTC growth in the medium term,” AxelAdlerJr predicted.

Bitcoin’s Sell-Side Risk Ratio Hits Low

At the same time, analyst Ali highlighted another bullish indicator: Bitcoin’s sell-side risk ratio had dropped to 0.086%.

Bitcoin Sell-side Rish Ratio. Source: Glassnode
Bitcoin Sell-side Rish Ratio. Source: Glassnode

According to Ali, over the past two years, every time this ratio fell below 0.1%, Bitcoin experienced a strong price rebound. For example, in January 2024, Bitcoin surged to a then-all-time high of $73,800 after the sell-side risk ratio dipped below 0.1%.

Similarly, in September 2024, Bitcoin hit a new peak after this metric reached a low level.

The combination of veteran investors accumulating Bitcoin and a sharp decline in the sell-side risk ratio are positive signals for the market. However, a recent analysis from BeInCrypto warns of concerning technical patterns, with a death cross beginning to form.

Additionally, investors remain cautious about potential market volatility in early April. The uncertainty stems from President Trump’s upcoming announcement regarding a major retaliatory tariff.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Marathon Digital to Sell $2 Billion in Stock to Buy Bitcoin

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Marathon Digital Holdings, one of the largest Bitcoin mining companies in the US, made headlines with its announcement of a $2 billion stock offering to increase its Bitcoin holdings. 

This strategic move, detailed in recent SEC filings, shows Marathon’s aggressive approach to capitalize on the growing crypto market. 

Marathon’s $2 Billion Stock Offering: Key Details

On March 30, 2025, Marathon Digital Holdings announced a $2 billion at-the-market (ATM) stock offering to fund its strategy of acquiring more Bitcoin. The company filed a Form 8-K with the SEC, outlining its plan to raise capital through the sale of shares, with the proceeds primarily aimed at increasing its Bitcoin holdings. 

According to the SEC filing (Form 424B5), Marathon intends to use the funds for “general corporate purposes,” which include purchasing additional Bitcoin and supporting operational needs.

Marathon holds 46,376 BTC, making it the second-largest publicly traded company in Bitcoin ownership, behind MicroStrategy. The company’s Bitcoin holdings have grown significantly in recent years, from 13,726 BTC in early 2024 to the current figure. 

“We believe we are the second largest holder of bitcoin among publicly traded companies. From time to time, we enter into forward or option contracts and/or lend bitcoin to increase yield on our Bitcoin holdings.” Marathon confirmed

This $2 billion stock offering continues Marathon’s strategy to bolster its balance sheet with Bitcoin, a move that aligns with its long-term vision of leveraging cryptocurrency as a store of value.

Marathon’s strategy mirrors that of MicroStrategy. MicroStrategy’s stock price has soared with Bitcoin’s value, providing a blueprint for companies like Marathon to follow. By increasing its Bitcoin holdings, Marathon aims to position itself as a leader in the crypto mining sector while diversifying its revenue streams beyond traditional mining operations.

Marathon Digital CEO Fred Thiel advises investing small amounts in Bitcoin monthly, citing its consistent long-term growth potential.

The issuance of new shares to raise $2 billion could dilute the ownership of existing shareholders, potentially impacting the company’s stock price (MARA). As of March 31, 2025, MARA stock has experienced volatility, trading at around $12.47 per share, down from a 52-week high of $24, according to data from Yahoo Finance.

Moreover, Marathon’s heavy reliance on Bitcoin exposes it to the cryptocurrency’s price fluctuations. If Bitcoin’s price were to decline significantly, the value of Marathon’s holdings would decrease, potentially straining its financial position.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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