{"id":109015,"date":"2023-06-15T05:45:47","date_gmt":"2023-06-15T05:45:47","guid":{"rendered":"https:\/\/dripp.zone\/news\/bitcoin-price-drops-all-the-way-to-25000-more-pain-likely-ahead-crypto-news\/"},"modified":"2023-06-15T05:45:49","modified_gmt":"2023-06-15T05:45:49","slug":"bitcoin-price-drops-all-the-way-to-25000-more-pain-likely-ahead-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-price-drops-all-the-way-to-25000-more-pain-likely-ahead-crypto-news\/","title":{"rendered":"Bitcoin Price Drops All the Way to $25,000, More Pain Likely Ahead\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>In the hours following Jerome Powell&#8217;s announcement of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/us-fed-keeps-interest-rate-unchanged-bitcoin-goes-sideways\/?utm_source=24hrsupdateall\">keeping interest rates unchanged<\/a>, Bitcoin and the broader cryptocurrency market have entered a steep correction.  The Bitcoin (BTC) price is down over 3.5% in the last 24 hours and has moved closer to the $25,000 level.<\/p>\n<p>Similarly, the broader cryptocurrency market has eroded over $40 billion of investors&#8217; wealth and is on the verge of falling under the $1 trillion mark.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.71 --><\/p>\n<p>As of now, $25,000 stands as a strong support level for Bitcoin (BTC), and any fall below this could push it further down to $23,500 and below.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">There we go on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a>,<\/p>\n<p>The lows are getting swept.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.71 --><\/p>\n<p>Heavily interested to see response at the $25K region. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/0ekuDdRptL\">pic.twitter.com\/0ekuDdRptL<\/a><\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1669075316701003776?ref_src=twsrc%5Etfw\">June 14, 2023<\/a><\/p>\n<\/blockquote>\n<p>Popular crypto analyst Ali Martinez <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ali_charts\/status\/1668907558763913216\">Reported<\/a>: \u201cBitcoin <span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">sits on thing ice!  Notice the most important support zone is between $22,785 and $23,595 where 1.34 million wallets hold 450,000. <\/span><span class=\"r-18u37iz\">$BTC<\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">,  On the flip side, <\/span><span class=\"r-18u37iz\">#BTC<\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">  faces stiff resistance between $26,000 and $28,250 where 5.18 million wallets bought 2.1 million BTC\u201d.<\/span><\/p>\n<figure id=\"attachment_151759\" aria-describedby=\"caption-attachment-151759\" style=\"width: 2346px\" class=\"wp-caption aligncenter\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-151759\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/06\/15103856\/Bitcoin-BTC-Support-Areas.jpeg\" alt=\"\" width=\"2346\" height=\"880\"\/><\/noscript><figcaption id=\"caption-attachment-151759\" class=\"wp-caption-text\">Courtesy: IntoTheBlock<\/figcaption><\/figure>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.71 --><\/p>\n<p>As we have seen, so far in 2023, the correlation between Bitcoin and US equities has been disclosed to a great extent.  After the Powell speech on Tuesday, the US equities ended flat as the US Fed Chair hinted at the possibility of two more rate hikes ahead this year.<\/p>\n<p>Bitcoin and the crypto market have reacted quickly to this since the market is already facing liquidity challenges in the wake of the SEC lawsuits on crypto exchanges Binance and Coinbase.  Already several banking partners have been <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/binance-us-signals-cutting-off-from-banking-partners-liquidity-crisis-ahead\/\">considering their ties<\/a> with the crypto exchange in the wake of the current developments.<\/p>\n<h3>Altcoins Face Deeper Correction Than Bitcoin<\/h3>\n<p>Along with Bitcoin, the correction seems more pronounced in the altcoins space.  The world&#8217;s second-largest crypto Ethereum (ETH) has tanked by more than 5.5% and has currently slipped under the $1,650 levels.<\/p>\n<p>Other top ten altcoins such as BNB, XRP, Cardano ADA, and Polygon MATIC, have all corrected over 6%.  The bears seem to have taken a clear hold of the markets over the bulls and it remains to be seen how far the market can correct further from here.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.71 --><\/p>\n<div class=\"quads-location quads-ad86313 \" id=\"quads-ad86313\" style=\"float:none;text-align:center;padding:0px 0 0px 0;\">\n<!--   --><\/p>\n<p><!-- \n\n<div class=\"ad-container-layout\">\n      \n\n<div class=\"ad-container\">\n        <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/bit.ly\/3JbHb8M\">\n          <img decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\"http:\/\/www.w3.org\/2000\/svg\"%20viewBox='0%200%200%200'%3E%3C\/svg%3E\" alt=\"bitget-images\" class=\"ad-image\" style=\"\n    width: 95%;\n\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/06\/05005321\/bitget11-1.png\"><noscript><img decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/06\/05005321\/bitget11-1.png\" alt=\"bitget-images\" class=\"ad-image\" style=\"\n    width: 95%;\n\"><\/noscript>\n        <\/a>\n        \n\n<div class=\"ad-content\">\n          <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/bit.ly\/3JbHb8M\">\n            <span class=\"ad-title\">Bitget is a Leading Derivatives Trading Platform. 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His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets.  He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge.  In free time he reads thriller fictions novels and sometimes explores his culinary skills.                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD151757\">\n<p>    The content presented may include the personal opinion of the author and is subject to market condition.  Do your market research before investing in cryptocurrencies.  The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p><!-- \n\n<div class=\"container p-1 mb-3  mt-4 \">\n    \n    \n     \n\n<div class=\"Maintitle clgrn border-0\">\n               <span>Crypto Stories<\/span>\n                    \n                    \n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/\" class=\"viewAll p-0\">View all<\/a>\n                <\/div>\n\n\n     \n\n<div class=\"row mobileXS \">\n                     \n          \n\n<div class=\"item col-md-4\"> \n        \n\n<div class=\"Newseducation\">\n         \n\n<div class=\"Eduimg WduImg\">\n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/twitter-is-now-worth-just-33-of-elon-musks-purchase-price\/?utm_source=post&utm_medium=web-story\">\n            \n\n<div class=\"edIm StoryWebimg\"><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\"http:\/\/www.w3.org\/2000\/svg\"%20viewBox='0%200%20640%20853'%3E%3C\/svg%3E\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\" decoding=\"async\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/05\/31173623\/twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720.jpg\" \/><noscript><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/05\/31173623\/twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\" decoding=\"async\" \/><\/noscript><\/div>\n\n\n                \n\n<div class=\"Educontent\">Twitter is now worth just 33% of Elon Musk\u2019s purchase price <\/div>\n\n\n            <\/a>\n            <\/div>\n\n\n        <\/div>\n\n\n        <\/div>\n\n\n          \n          \n  \n              \n          \n\n<div class=\"item col-md-4\"> \n        \n\n<div class=\"Newseducation\">\n         \n\n<div class=\"Eduimg WduImg\">\n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/will-cramer-curse-strike-again\/?utm_source=post&utm_medium=web-story\">\n            \n\n<div class=\"edIm StoryWebimg\"><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\"http:\/\/www.w3.org\/2000\/svg\"%20viewBox='0%200%20640%20853'%3E%3C\/svg%3E\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"will_cramer_curse_strike_again_720\" decoding=\"async\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/05\/31165520\/will_cramer_curse_strike_again_720.jpg\" \/><noscript><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/05\/31165520\/will_cramer_curse_strike_again_720.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"will_cramer_curse_strike_again_720\" decoding=\"async\" \/><\/noscript><\/div>\n\n\n                \n\n<div class=\"Educontent\">Will Cramer Curse Strike Again? 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The Bitcoin (BTC) price is down over 3.5% in the last 24 hours and has moved closer to the $25,000 level. Similarly, the broader cryptocurrency market has eroded over $40 billion of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":99995,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-109015","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/109015","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=109015"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/109015\/revisions"}],"predecessor-version":[{"id":109016,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/109015\/revisions\/109016"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/99995"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=109015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=109015"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=109015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}