Moon

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analysts-warn-bitcoin-may-drop-below-45000/" data-wpel-link="internal">Analysts Warn Bitcoin May Drop Below $45,000</a><br></p>
<p class="p1" style="text-align: justify">Crypto analysts warn that the current Bitcoin sell-off could lead to lower lows and potentially threaten to drop below the $45,000 level. According to Tradingview <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a>, the Bitcoin price has dropped more than 12.8% in the last 24 hours, falling to $52,369. Bitcoin was last trading at this level at the end of February 2024.</p> 
<h2 class="p1" style="text-align: justify" id="notable-statements-about-bitcoin">Notable Statements About Bitcoin</h2> 
<p class="p1" style="text-align: justify">According to Alex Kuptsikevich, a senior market analyst at FXPro, Bitcoin’s downtrend could potentially extend to the $42,000 level. The analyst said:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“At its lowest point, Bitcoin fell below its 50-week moving average. Without strong buyer support, it will fall further and trigger a more active wave of selling, as it did at the end of 2021 and the beginning of 2022. If none of these hold, it is worth preparing for a failure towards $42,000.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify">Round psychological numbers like $42,000 often represent important focal points for crypto <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>, and price action at these levels can determine Bitcoin’s short-term momentum.</p> 
<h2 class="p1" style="text-align: justify" id="possible-scenarios">Possible Scenarios</h2> 
<p class="p1" style="text-align: justify">Despite the recent downward pressure, Bitcoin can still recover and avoid printing lower lows. However, according to popular <a href="https://en.coin-turk.com/analysis-of-cryptocurrency-market-fluctuations-and-coin-predictions/" data-wpel-link="internal">crypto analyst</a> Moon, Bitcoin must decisively reclaim the $51,000 level to avoid further decline. Moon wrote in an August 5 X post:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“Bitcoin must return above support, otherwise we could drop to $45,000.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-377079 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/btc.jpg" alt="" width="2157" height="1186"></p> 
<p class="p1" style="text-align: justify">According to Kuptsikevich, Bitcoin’s drop of over 20% is in line with previous bull cycle pullbacks and was initially triggered by the failure to break the $70,000 threshold. The senior market analyst added:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“The active pressure on the first cryptocurrency began seven days ago after the failed attempt to break above $70,000 and the descending channel resistance.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify">Despite the bleak market outlook, Bitcoin has a significant support level at the psychological boundary of $50,000. According to Coinglass data, if Bitcoin potentially falls below the $50,000 threshold, more than $400 million in cumulative futures short positions will be liquidated. If the Bitcoin price falls below the $49,400 threshold, short liquidations across all exchanges will exceed $520 million.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-377078 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/coinglas.webp" alt="" width="1423" height="516"></p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/analysts-warn-bitcoin-may-drop-below-45000/" data-wpel-link="internal">Analysts Warn Bitcoin May Drop Below $45,000</a></h5>
<p>The post <a href="https://en.coin-turk.com/analysts-warn-bitcoin-may-drop-below-45000/" data-wpel-link="internal">Analysts Warn Bitcoin May Drop Below $45,000</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Analysts Warn Bitcoin May Drop Below $45,000

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