2024

Bitcoin

Rekt

<img decoding="async" width="1200" height="900" src="https://coingape.com/wp-content/uploads/2019/11/Webp.net-resizeimage1.png" class="attachment-full size-full wp-post-image" alt="bitcoin buy the dip" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2019/11/Webp.net-resizeimage1.png 1200w, https://coingape.com/wp-content/uploads/2019/11/Webp.net-resizeimage1-300x225.png 300w, https://coingape.com/wp-content/uploads/2019/11/Webp.net-resizeimage1-768x576.png 768w, https://coingape.com/wp-content/uploads/2019/11/Webp.net-resizeimage1-1024x768.png 1024w, https://coingape.com/wp-content/uploads/2019/11/Webp.net-resizeimage1-678x509.png 678w, https://coingape.com/wp-content/uploads/2019/11/Webp.net-resizeimage1-326x245.png 326w, https://coingape.com/wp-content/uploads/2019/11/Webp.net-resizeimage1-80x60.png 80w" sizes="(max-width: 1200px) 100vw, 1200px">
<p>After making a brief attempt to surge past $72,000 last week, the <a href="https://coingape.com/price/bitcoin/" target="_blank" rel="noopener">Bitcoin (BTC) price</a> has been trading under constant selling pressure dropping nearly 6.5% on the weekly chart. As of press time, BTC is trading 1,15% down at $66,687 with a market cap of $1.314 trillion.</p> 
<h3 id="bitcoin-buy-the-dip-calls-surge">Bitcoin Buy The Dip Calls Surge</h3> 
<p>As per the on-chain data provider Santiment, there’s a notable surge in the Bitcoin buying interest following the recent dip under $67,000 on Thursday, June 13. this is the second-largest surge in the BTC buying interest over the past two months. On the other hand, the crowd remains very much silent in terms of the sell interest.</p> 
<figure id="attachment_202296" aria-describedby="caption-attachment-202296" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-202296" src="https://coingape.com/wp-content/uploads/2024/06/Bitcoin-Buying-Interest.jpeg" alt="" width="2466" height="1819" srcset="https://coingape.com/wp-content/uploads/2024/06/Bitcoin-Buying-Interest.jpeg 2466w, https://coingape.com/wp-content/uploads/2024/06/Bitcoin-Buying-Interest-300x221.jpeg 300w, https://coingape.com/wp-content/uploads/2024/06/Bitcoin-Buying-Interest-1224x903.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/06/Bitcoin-Buying-Interest-768x567.jpeg 768w, https://coingape.com/wp-content/uploads/2024/06/Bitcoin-Buying-Interest-1536x1133.jpeg 1536w, https://coingape.com/wp-content/uploads/2024/06/Bitcoin-Buying-Interest-2048x1511.jpeg 2048w, https://coingape.com/wp-content/uploads/2024/06/Bitcoin-Buying-Interest-80x60.jpeg 80w, https://coingape.com/wp-content/uploads/2024/06/Bitcoin-Buying-Interest-150x111.jpeg 150w" sizes="(max-width: 2466px) 100vw, 2466px">
 <figcaption id="caption-attachment-202296" class="wp-caption-text">
  Courtesy: <a rel="nofollow" href="https://x.com/santimentfeed/status/1801428318493020515" target="_blank">Santiment</a>
 </figcaption>
</figure> 
<p>On the other hand, the <a href="https://coingape.com/bitcoin-whales-buy-the-dips-with-btc-exchange-supply-at-3-year-low/" target="_blank" rel="noopener">Bitcoin whale accumulation</a> continues systematically. As per the latest report, amid strong institutional interest, the amount of entities holding over 1,000 BTC has now reached a new all-time high. However, <a href="https://coingape.com/bitcoin-miners-are-selling-will-high-liquidity-derail-btc-to-ath-push/" target="_blank" rel="noopener">Bitcoin miners</a> have also been selling in big numbers to meet operation costs after the halving.</p> 
<p>In another interesting take, crypto market analyst Rekt Capital stated that Bitcoin’s current struggle to give a decisive breakout is beneficial and advantageous for the overall market cycle. He added that Bitcoin has historically never broken out this early in the post-halving period.</p> 
<p>Rekt Capital also stated that an early breakout could accelerate the cycle, which would potentially shorten up the duration of the bull market. Instead, the ongoing phase is allowing the BTC price to align with the historical halving cycles, thereby setting up the stage for a sustained bull run.</p> 
<p>This perspective highlights that maintaining patience in the current <a href="https://coingape.com/bitcoin-price-btc-nears-bull-cycle-peak-is-100k-dream-fading/" target="_blank" rel="noopener">Bitcoin consolidation</a> could be more rewarding and healthier for the coming bull run.</p> 
<figure id="attachment_202299" aria-describedby="caption-attachment-202299" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-202299" src="https://coingape.com/wp-content/uploads/2024/06/Bitcoin-consolidation.jpeg" alt="" width="1794" height="1266" srcset="https://coingape.com/wp-content/uploads/2024/06/Bitcoin-consolidation.jpeg 1794w, https://coingape.com/wp-content/uploads/2024/06/Bitcoin-consolidation-300x212.jpeg 300w, https://coingape.com/wp-content/uploads/2024/06/Bitcoin-consolidation-1224x864.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/06/Bitcoin-consolidation-768x542.jpeg 768w, https://coingape.com/wp-content/uploads/2024/06/Bitcoin-consolidation-1536x1084.jpeg 1536w, https://coingape.com/wp-content/uploads/2024/06/Bitcoin-consolidation-150x106.jpeg 150w" sizes="(max-width: 1794px) 100vw, 1794px">
 <figcaption id="caption-attachment-202299" class="wp-caption-text">
  Courtesy: <a rel="nofollow" href="https://x.com/rektcapital/status/1801298871437373828/photo/1" target="_blank">Rekt Capital</a>
 </figcaption>
</figure> 
<h3 id="btc-price-drop-to-48-000-possible">BTC Price Drop to $48,000 Possible</h3> 
<p>Renowned market analyst Peter Brandt shared his insight on the BTC price trajectory going ahead wherein he shares the most apparent interpretation of the Bitcoin chart suggesting the following possible scenarios.</p> 
<ol> 
 <li>If the Bitcoin price breaks through the $65,000 level, it may further decline to $60,000.</li> 
 <li>However, if the Bitcoin price dips further under $60,000, it can correct another 20% all the way to $48,000.</li> 
</ol> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">Chart of interest – Bitcoin <a rel="nofollow" href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a><br> Sometimes the most obvious interpretations of a chart work out, most of the time the charts morph. But the most obvious is this:<br> Break through 65,000, then mkt goes to 60,000<br> Break through 60,000 mkt goes to 48,000 <a rel="nofollow" href="https://t.co/JsXXVx2EhV">pic.twitter.com/JsXXVx2EhV</a></p> 
 <p>— Peter Brandt (@PeterLBrandt) <a rel="nofollow" href="https://twitter.com/PeterLBrandt/status/1801389733597089944?ref_src=twsrc%5Etfw">June 13, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>The post <a href="https://coingape.com/bitcoin-buy-the-dip-btc-price-drop-under-65000-can-create-havock/">Bitcoin Buy The Dip Calls Surge But BTC Price Drop Under $65,000 Can Be Fatal</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

Bitcoin Buy The Dip Calls Surge But BTC Price Drop Under $65,000 Can Be Fatal

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