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Bitcoin

<p>The <a href="https://cryptoticker.io/en/token" rel="noopener noreferrer nofollow">cryptocurrency market</a> is facing a severe downturn, marked by a sharp 7% decline in the past 24 hours. Bitcoin, the flagship cryptocurrency, has seen its price tumble, bringing it perilously close to the $50,000 threshold. This sudden crash has left investors and analysts alike questioning what lies ahead for Bitcoin and whether it will continue its descent.</p>
<h2 id="strong-bitcoin-news-why-is-bitcoin-crashing-strong"><strong>Bitcoin News: Why is Bitcoin Crashing?</strong></h2>
<h3 id="bitcoin-crash-technical-perspective">Bitcoin Crash: Technical Perspective</h3>
<p>From a technical standpoint, <a href="https://cryptoticker.io/en/token/BTC" rel="noopener noreferrer nofollow">Bitcoin’s</a> recent price movements have been particularly concerning. The cryptocurrency struggled to break through the critical $72,000 resistance level. This failure to establish a new high has led to increased selling pressure, causing the price to begin a downward trajectory. The inability to surpass this resistance has triggered a bearish sentiment, exacerbating the decline as traders and investors rush to offload their holdings to avoid further losses.</p>
<h3 id="bitcoin-crash-fundamental-perspective">Bitcoin Crash: Fundamental Perspective</h3>
<p>The market is also reeling from fundamental pressures, notably the impact of the <a href="https://www.coindesk.com/markets/2024/07/04/bitcoin-nosedives-under-58k-amid-mt-gox-german-government-wallet-movements/" rel="noopener noreferrer nofollow">MT.Gox BTC distribution</a>. The MT.Gox exchange, which famously collapsed in 2014 after losing 850,000 Bitcoins, has recently begun distributing recovered BTC to its creditors. This has resulted in a significant influx of Bitcoin into the market. Many of these recipients, eager to cash in on their long-awaited restitution, have been selling off their Bitcoin, leading to a glut of supply. This increased selling pressure has heavily contributed to the downward spiral in Bitcoin’s price, pushing it closer to the critical $50,000 mark.</p>
<h2 id="strong-bitcoin-price-dollar-how-much-is-1-bitcoin-now-strong"><strong>Bitcoin Price Dollar: How Much is 1 Bitcoin Now?</strong></h2>
<p>As of the latest data, <a href="https://partner.bitget.com/bg/cryptoticker" rel="noopener noreferrer nofollow">Bitcoin</a> is trading at approximately $54,450. This represents a substantial drop from its recent highs and reflects the current bearish sentiment in the market. The cryptocurrency's value is teetering dangerously close to the $50,000 threshold, a psychological and technical level that, if breached, could signal further declines. Currently, Bitcoin is trying to rebound from the $54,000 price mark.</p>
<p><a href="https://www.tradingview.com/symbols/BTCUSD/?aff_id=127958" rel="noopener noreferrer nofollow"><img src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/BTCUSD_2024_07_05_13_12_35_c531151f2a.png" alt="BTCUSD_2024-07-05_13-12-35.png"></a></p>
<p>BTC/USD 10-mins chart - <a href="https://www.tradingview.com/symbols/BTCUSD/?aff_id=127958" rel="noopener noreferrer nofollow"><i>TradingView</i></a></p>
<h2 id="strong-bitcoin-price-euro-what-s-the-value-in-euros-strong"><strong>Bitcoin Price Euro: What’s the Value in Euros?</strong></h2>
<p>Given the current exchange rate of 1 EUR = 1.08 USD, the price of <a href="https://partner.bitget.com/bg/cryptoticker" rel="noopener noreferrer nofollow">Bitcoin in euros</a> is about €50,417. This calculation underscores the magnitude of the recent decline, with Bitcoin now trading at a significant discount compared to its peak value in both dollars and euros. Bitcoin managed however to breach the €50,000 price to reach a low of around €49,800.</p>
<p><img src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/Whats_App_Image_2024_07_05_at_12_48_10_512ffd65_e694b44b73.jpg" alt="WhatsApp Image 2024-07-05 at 12.48.10_512ffd65.jpg"></p>
<h2 id="strong-bitcoin-price-prediction-will-bitcoin-reach-40-000-strong"><strong>Bitcoin Price Prediction: Will Bitcoin Reach $40,000?</strong></h2>
<p>The looming question on the minds of many investors is whether <a href="https://partner.bitget.com/bg/cryptoticker" rel="noopener noreferrer nofollow">Bitcoin</a> will continue its slide down to the $40,000 range. The cryptocurrency has already breached the €50,000 mark, and if it breaks below $50,000 in USD as well, this could trigger a further sell-off. Such a scenario would likely push the price down to the $40,000-$42,000 area, a significant decrease from current levels. The breach of this psychological level could potentially act as a catalyst for a more substantial decline, making it crucial for investors to monitor Bitcoin’s price action closely.</p>

Bitcoin News Today: Bitcoin Price Crash BELOW 50K?

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