{"id":138758,"date":"2023-09-02T03:09:27","date_gmt":"2023-09-01T21:39:27","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=138758"},"modified":"2023-09-02T03:09:27","modified_gmt":"2023-09-01T21:39:27","slug":"bitcoin-btc-price-takes-a-dip-under-26000-why-its-a-buy-on-dips-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-btc-price-takes-a-dip-under-26000-why-its-a-buy-on-dips-crypto-news\/","title":{"rendered":"Bitcoin (BTC) Price Takes A Dip Under $26,000, Why It’s A Buy on Dips – Crypto News"},"content":{"rendered":"

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The world\u2019s largest crypto Bitcoin (BTC) took a dip under $26,000 levels in a sharp 9% fall as SpaceX dumps its $373 million worth of Bitcoin holdings<\/a>. Bitcoin\u2019s fall has also dragged the broader crypto market downwards by 7% eroding $70 billion of investors\u2019 wealth over the past 24 hours.<\/p>\n

As of press time, the Bitcoin (BTC) price is trading 7.83% down at $26,394 with a market cap of $513 billion. For long-term investors, this could be a good opportunity to fill their bags. Popular crypto investor Ali Martinez explained that the Bitcoin RSI has hit 9.43 levels on the 4-hour chart. The last time the BTC price touched these RSI levels, it registered a strong bounce back.<\/p>\n

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#Bitcoin<\/a> | I just bought the $BTC<\/a> dip! The last two times the RSI hit 9.73 on the 4-hour chart, it presented the perfect entry. I believe it could be the same now! pic.twitter.com\/UauQMYRhkU<\/a><\/p>\n

\u2014 Ali (@ali_charts) August 17, 2023<\/a><\/p>\n<\/blockquote>\n

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The Bitcoin outlook is undoubtedly bearish as of now and there could be a further price correction. However, a staggered buying approach at every dip could be a good opportunity to make the most of the correction.<\/p>\n

But Many investors are asking about what\u2019s next from here onwards. As the Bitcoin price breaks away from the volatility squeeze, we can expect some more going ahead.<\/p>\n

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I won’t make any decision on #Bitcoin<\/a> until Monday. What happens 90% of the time is a relief rally that causes FOMO and longs pile up. People get excited thinking it’s coming back then we nuke once more. Then the pain and shorts come, people actually bearish. Then the hated rally pic.twitter.com\/TPiu0M0SFt<\/a><\/p>\n

\u2014 IncomeSharks (@IncomeSharks) August 17, 2023<\/a><\/p>\n<\/blockquote>\n

Bitcoin Buy The Dips Calls on the Rise<\/h3>\n

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On-chain data shows that the recent Bitcoin price correction has shot up the number of calls for buying the dips. As per on-chain data provider Santiment, the Bitcoin \u2018Buy the dip\u2019 calls hit their four-month high on Thursday, August 17.<\/p>\n

Following a week of downward trends in altcoins, Bitcoin experienced its own significant decline, leading to a broad decline across the entire crypto market. While prices are showing a modest rebound, this dip prompted a surge in calls for #buythedip, reaching the highest level since April, notes<\/a> Santiment.<\/p>\n

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Courtesy: Santiment<\/figcaption><\/figure>\n

The Santiment data also shows that whales have been quite active on the recent dump. The aftermath of the recent price plummet in crypto markets is still far from settled, marking one of the most significant drops in 2023. A notable surge in $1M+ $BTC transactions suggests that whales are actively involved during this decline. However, the number of large wallets doesn\u2019t appear to be decreasing, notes<\/a> Santiment.<\/p>\n

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Courtesy: Santiment<\/figcaption><\/figure>\n

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. 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 explore his culinary skills. <\/p>\n<\/p><\/div>\n

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The presented content 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

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The world\u2019s largest crypto Bitcoin (BTC) took a dip under $26,000 levels in a sharp 9% fall as SpaceX dumps its $373 million worth of Bitcoin holdings. Bitcoin\u2019s fall has also dragged the broader crypto market downwards by 7% eroding $70 billion of investors\u2019 wealth over the past 24 hours. As of press time, the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"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-138758","post","type-post","status-publish","format-standard","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\/138758","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=138758"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138758\/revisions"}],"predecessor-version":[{"id":147974,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138758\/revisions\/147974"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=138758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=138758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=138758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}