Bitcoin

The post <a href="https://cryptosnewss.com/bitcoins-price-could-drop-to-35720-whats-driving-this-warning/" rel="noopener noreferrer nofollow">Bitcoin&#39;s Price Could Drop to $35,720 – What’s Driving This Warning?</a> appeared first on <a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow">Cryptos Newss</a>.Bitcoin could face a steep drop to $35,720, driven by low trading volume and market manipulation by large investors. Analyst Alan Santana believes this combination could spark a significant price drop.Bitcoin is currently trading around $68,203, but concerns are rising about a possible drop. Alan Santana, a market analyst, <a href="https://www.tradingview.com/chart/BTCUSDT/x8yRJbUB-Bitcoin-Is-Headed-Toward-35-720-Whales-vs-Retail/" rel="noopener noreferrer nofollow">highlights</a> that the low trading volume in recent days is a warning signal.Low volume means fewer buyers and sellers in the market, which makes prices more susceptible to manipulation by large investors—often called whales.These whales could be temporarily pushing prices up to create a false sense of momentum before offloading their holdings, causing a sharp price crash.Read Also: <a href="https://cryptosnewss.com/bitcoin-hash-rate-hits-record-high-what-does-this-mean-for-crypto/" rel="noopener noreferrer nofollow">Bitcoin Hash Rate Hits Record High, What Does This Mean for Crypto?</a>Santana points to weak demand, a lack of sustained buying activity, and overall market hesitation as key factors in his prediction.Whales can trigger rapid price changes by executing large sell orders when the market is thin, pushing Bitcoin&#39;s value lower. If this pattern holds, the market could see Bitcoin plunge to $35,720.However, not all analysts agree with this grim outlook. Many argue that despite short-term volatility, Bitcoin has long-term potential due to increasing institutional interest, use cases, and its status as a hedge against inflation.They see short-term corrections as part of the natural market cycle, not necessarily signaling a crash to such low levels.Whether Bitcoin will drop to $35,720 remains uncertain, but Santana’s warning underscores the importance of monitoring market activity.Traders should keep a close watch on volume and whale movements to avoid getting caught in a market downturn. Investors should remain cautious, as low trading volume can amplify price swings and lead to quick market shifts.Watching for signs of manipulation and understanding market trends will help investors make informed decisions in these volatile times.The post <a href="https://cryptosnewss.com/bitcoins-price-could-drop-to-35720-whats-driving-this-warning/" rel="noopener noreferrer nofollow">Bitcoin&#39;s Price Could Drop to $35,720 – What’s Driving This Warning?</a> appeared first on <a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow">Cryptos Newss</a>.

Bitcoin's Price Could Drop to $35,720 – What’s Driving This Warning?

Cryptos Newss

Other articles published on Oct 22, 2024

Top 10 AI & Big Data Crypto Projects by Development, Led by NEAR

Avalanche launches a new Visa Card to facilitate payment services in crypto

Is Aptos Primed for a Breakout After a 12% Rally?

Doland Tremp Meme Coin Price Prediction: Can $TREMP Price Recover to New Highs For November Election

Why Is Stella (ALPHA) Price Pumping?

Experts Say Mpeppe’s Utility Will Quickly Surpass Dogwifhat Hype

Join our free newsletter for daily crypto updates!