2024

Bitcoin

<p>The volatility of the crypto market has struck once again, dragging Bitcoin and altcoins into a downward spiral. Early in the day, alerts sounded as cryptos fell, plunging back into the red. The total market cap lost billions in a few hours, and the entire sector faces growing selling pressure. In this context, Bitcoin and the SUI token appear to be at the forefront.</p>
<h2 id="h-the-crypto-market-tumbles-under-selling-pressure">The crypto market tumbles under selling pressure</h2>
<p>The <a href="https://www.cointribune.com/en/china-awakens-the-economic-dragon-bitcoin-could-benefit-from-it/" target="_blank" rel="noopener noreferrer nofollow">awakening of the Chinese economic dragon</a> has not been without effect on Bitcoin and other similar crypto-assets. In just 24 hours, the crypto market saw <strong>its total market cap plunge by $10 billion</strong>, falling below the $2.20 trillion mark. Efforts to right the ship are futile, and selling pressure continues to mount.</p>
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<p>If the situation persists, the market cap could flirt with <strong>$2.08 trillion</strong>, or even head <strong>dangerously towards $1.91 trillion</strong>.</p>
<ul>
 <li>Loss of $10 billion;</li>
 <li>Current market cap: $2.17 trillion;</li>
 <li>Critical threshold: $1.91 trillion.</li>
</ul>
<p>The <strong>SUI crypto</strong>, for example, has posted a <strong>7% loss</strong>, leading the altcoins battered by this wave of massive sales.</p>
<p><a href="https://x.com/CryptoMichNL/status/1840723269013377069" target="_blank" rel="noopener noreferrer nofollow">Michaël van de Poppe</a>, a crypto analyst, shares an optimistic view despite the current storm: “<em>Dips are buying opportunities before the next all-time high</em>“.</p>
<h2 id="h-bitcoin-sinks-but-buying-signals-emerge">Bitcoin sinks, but buying signals emerge</h2>
<p>Bitcoin, for its part, is not spared by this new shake-up. With <strong>a 2.7% drop and a price of $63,900</strong> at the time of writing, BTC is feeling the full brunt of accelerated sales.</p> 
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  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:BTCUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"dark"}</script>
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<p><strong>The volume of Bitcoin transactions has increased by 2% simultaneously</strong>, which suggests further losses ahead.</p>
<p>Analyst van de Poppe highlights <strong>an interesting opportunity around the $60.5-$61.3K levels</strong>, where investors might look to reload their portfolios before <strong>a possible rebound</strong>.</p>
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     <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> did follow the plan.<br><br>Took the liquidity above the recent highs, and is coming back down.<br><br>I think we're in a new uptrend, which means that dips are for buying.<br><br>In that sense, if we get a retest at $60.5-61.3K, I'm interested before we test the ATH. <a href="https://t.co/1mpFKNpWra" rel="noopener noreferrer nofollow">pic.twitter.com/1mpFKNpWra</a></p>— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1840723269013377069?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 30, 2024</a>
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<p>BTC, like the entire crypto market, is <strong>testing critical support levels</strong> that will determine the course of events.</p>
<p><a href="https://www.cointribune.com/en/bitcoin-and-altcoins-are-plummeting-dramatically/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin and altcoins have collapsed suddenly</a> today, and observers have remained vigilant, closely monitoring critical thresholds that could redefine the future of the crypto market.</p>
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Why Is The Crypto Market In The Red Today?

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