United

Bitcoin

Impact

Notable

Spot

<p>The post <a href="https://coinpedia.org/news/bitcoin-btc-price-teases-below-65k-signaling-possible-capitulation-ahead/">Investors Panic as Bitcoin Dips, Altcoins Plunge: Here’s Where to Invest Now</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The total cryptocurrency market cap slipped around 3 percent in the last 24 hours to about $2.48 trillion on Tuesday during the early European session. The altcoin industry registered the largest losses after <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">Bitcoin (BTC) price</a> briefly dropped below $65k. As a result, nearly half a billion dollars have been liquidated from the leveraged cryptocurrency market, which mostly involves long traders.</p> 
<p>Will this be a short-lived scare or the start of something bigger? Read on to find out what experts are saying.</p> 
<h2 class="wp-block-heading" id="h-significant-cash-outflows-from-bitcoin-etfs">Significant Cash Outflows from Bitcoin ETFs</h2> 
<p>Fears of a prolonged bearish trend have driven more investors to shift from altcoins to stablecoins. As a result, Bitcoin’s market dominance has increased by about 1% in the past 24 hours, now standing around 56.18%.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/ETF?src=hash&amp;ref_src=twsrc%5Etfw">#ETF</a> Net Inflow June 17, 2024: -$146M!<br><br>• The net inflow has been negative for 3 consecutive days.<br><br>• 9 out of the 10 US Bitcoin ETFs, including both <a href="https://twitter.com/hashtag/BlackRock?src=hash&amp;ref_src=twsrc%5Etfw">#BlackRock</a> (IBIT) and <a href="https://twitter.com/hashtag/Grayscale?src=hash&amp;ref_src=twsrc%5Etfw">#Grayscale</a> (GBTC), experienced zero or negative single-day flow.<br><br>• The cumulative total net… <a href="https://t.co/IFMpWrshnJ">pic.twitter.com/IFMpWrshnJ</a></p>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1802954002046607595?ref_src=twsrc%5Etfw">June 18, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Over the past week, <a href="https://coinpedia.org/news/bitcoin-etf-volume-hits-2-89-billion-analysts-predict-75-surge-ahead/">U.S.-based spot Bitcoin exchange-traded funds (ETFs)</a> have seen notable cash outflows. On Monday, Fidelity’s FBTC and Ark’s ARKB led the way with outflows of about $92 million and $50 million, respectively. Most spot Bitcoin ETFs, including BlackRock’s IBIT, recorded zero net flow on Monday. Consequently, the total net assets under custody in U.S. spot BTC ETFs are about $58 billion, with a traded volume of around $1.2 billion.</p> 
<h2 class="wp-block-heading" id="h-liquidations-and-bearish-sentiments">Liquidations and Bearish Sentiments</h2> 
<p>The recent cash outflows are linked to significant crypto liquidations and ongoing bearish market sentiments. Bitcoin’s price has been stuck in a multi-week consolidation phase between $61,000 and $72,000 over the past four months. </p> 
<p>On Tuesday, Bitcoin traded around $65,578, slipping below the daily 50 Moving Average (MA), with the Relative Strength Index (RSI) nearing oversold levels.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">There's a chance our <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> bottom is in with this SFP.<br><br>Below is what I am watching for now.<br><br>Yes, we can still technically go lower into the "dream long" zone below, but as I've previously said it would not surprise me to see that zone front run.<br><br>That being said, you sell the… <a href="https://t.co/cI6moqbadJ">pic.twitter.com/cI6moqbadJ</a></p>— CrediBULL Crypto (@CredibleCrypto) <a href="https://twitter.com/CredibleCrypto/status/1802907539597570534?ref_src=twsrc%5Etfw">June 18, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>If bearish sentiment continues, Bitcoin is expected to find solid support between $57,000 and $60,000. However, if the market rebounds from the current bearish trend, Bitcoin could potentially reach a new all-time high soon.</p> 
<h2 class="wp-block-heading" id="h-altseason-ahead">Altseason Ahead?</h2> 
<p>Following the recent approval of spot Ether ETFs in the United States, listings and trading are set to begin as early as next month. </p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4ca.png" alt="📊" class="wp-smiley" style="height: 1em; max-height: 1em;"> Bitcoin holders have just had their biggest 3-day drop in non-empty wallets since just prior to the March 14th all-time high. Unlike then, BTC has been sliding, provoking traders to liquidate for fear of further drops. Meanwhile, Ethereum wallets keep growing in number. <a href="https://t.co/UIfXLkJ1HH">pic.twitter.com/UIfXLkJ1HH</a></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1802908407919513757?ref_src=twsrc%5Etfw">June 18, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Currently, Ether’s supply on exchanges is at an all-time low, alongside a notable increase in new Ethereum wallet addresses. As Bitcoin’s dominance approaches a macro falling logarithmic resistance level below 60%, the anticipated Altseason is expected to materialize in the near term.</p> 
<p>Also Read: <a href="https://coinpedia.org/price-analysis/bitcoin-ethereum-and-xrp-price-prediction-is-the-bull-rally-over/">Bitcoin, Ethereum, And XRP Price Prediction: Is The Bull Rally Over?</a></p> 
<p><strong>Is the dominance of Bitcoin finally crumbling? Time will tell.</strong></p>

Investors Panic as Bitcoin Dips, Altcoins Plunge: Here’s Where to Invest Now

Table of Contents

CoinPedia News

Other articles published on Jun 18, 2024

Expert Capitalizing on Current Market Dip Against Crowd Sentiment: Which Altcoins Are on Their Bu...

Bitcoin Falls to One-Month Low as Traders Set New BTC Price Targets Amid Market Uncertainty

Bitcoin Education “Unconference” Goes To Nashville, Find Out Why

Bitcoin falls below $66k, exchange activity rises

Notcoin Price Forecast: Is NOT Going To Zero As Bearish Momentum Builds?

Crypto Market Loses $500 Million to Liquidations as Bitcoin Falls

Join our free newsletter for daily crypto updates!