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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-faces-decline-after-failing-to-test-65000/" data-wpel-link="internal">Bitcoin Faces Decline After Failing to Test $65,000</a> 
Bitcoin (<a href="https://en.coin-turk.com/robert-kiyosaki-shares-more-reasons-to-invest-in-bitcoin/" data-wpel-link="internal">BTC</a>) returned to the $52,000 levels after failing to test $65,000. The recent major cause of the fluctuation was the rapid losses in US stocks. What is the current situation in Bitcoin charts and order book <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> after the decline? Will we see a recovery? 
<h2 style="text-align: justify" id="bitcoin-etf-data">Bitcoin ETF Data</h2> 
ETF approvals were a significant development for <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> familiar with traditional markets to invest in cryptocurrencies. Although we saw significant net inflows in the first quarter, total net inflows on the BTC ETF side turned flat afterward. Sales have been continuing discouragingly for a while. A user named WhalePanda addressed the current situation in the ETF channel and wrote: 
<blockquote> 
 “Good morning, 
 Yesterday’s Bitcoin ETF flows were negative again with $170 million, meaning a weekly total outflow of $706.1 million. Fidelity had an outflow of $85.5 million, GBTC $52.9 million, and Bitwise $14.3 million. The price fell below $53,000 and is lingering at $54,000.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-386777 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/09/BTC-ETF-7-Eylul.png" alt="" width="1084" height="1180"> 
Above, you can see the daily details of the recent outflows with Farside data. 
<h2 style="text-align: justify" id="bitcoin-broad-analysis">Bitcoin Broad Analysis</h2> 
Marco Johanning was sharing the Bitcoin price chart along with the heat map to understand investors’ current perspectives. We mentioned how important the 0.786 point is in Fib levels, and Marco emphasizes this. The analyst, who highlights the risk of $49,000 and $44,000 below $52,000, points out the potential for a new dip in case of excessive sales. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-386779 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/09/BTC-Genis-Analiz-1.jpg" alt="" width="2160" height="1288"> 
With the loss of the region between $44,000 and $49,000, which is noted as the next liquidity cluster, there is also the potential for BTC to drop to $40,000. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-386780 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/09/BTC-Genis-Analiz-2-scaled.jpg" alt="" width="2560" height="1255"> 
<blockquote> 
 “And the next liquidity cluster is at the next logical point: of course, below Black Monday’s lowest level. So, can “Rektember” theoretically go lower and touch the 40s again? Yes. 
 However, this could just be 0.786, which is a very deep retracement but not unusual in crypto. Many times, including yesterday, I have stated why I believe we are near the bottom and that “September” will start in 1-2.5 weeks. I will stick to my plan: my limit orders around the Black Monday Lows are ready and waiting for a better Q4!” 
</blockquote> 
<img loading="lazy" decoding="async" loading="lazy" class="size-full wp-image-386781 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/09/BTC-Genis-Analiz-3-scaled.jpg" alt="" width="2560" height="1252"> 
The analyst indicates the potential for a new dip in the next 48 hours and suggests that entering buy orders at satisfactory levels could be sensible, expecting a rise in the last quarter. 
The post <a href="https://en.coin-turk.com/bitcoin-faces-decline-after-failing-to-test-65000/" data-wpel-link="internal">Bitcoin Faces Decline After Failing to Test $65,000</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Bitcoin Faces Decline After Failing to Test $65,000

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