{"id":172372,"date":"2023-10-11T22:25:00","date_gmt":"2023-10-11T16:55:00","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=172372"},"modified":"2023-10-11T22:25:00","modified_gmt":"2023-10-11T16:55:00","slug":"btc-ready-to-confirm-dips-to-25k-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/btc-ready-to-confirm-dips-to-25k-crypto-news\/","title":{"rendered":"BTC Ready To Confirm Dips To $25k – Crypto News"},"content":{"rendered":"

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Bitcoin price has slid below $27,000 amid a spike in overhead pressure caused by concerns about the conflict between Israel and Hamas.<\/p>\n

Down 2.2% in the last 24 hours, the largest crypto is trading at $26,816 on Thursday. The gloomy market outlook is not unique to BTC, considering Ethereum is down 0.5% to $1,560 while XRP has decreased 2.1% to $0.4838.<\/p>\n

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Bitcoin Price Prediction As Whales Accumulate USDT<\/h2>\n

Bitcoin price<\/a>\u00a0managed to stay above $27,000 following last week\u2019s jump above $28,000. Investors and analysts had expected this support to hold to allow BTC to chart another recovery path to $30,000.<\/p>\n

However, the geopolitical tensions linked to the war between Israel and Hamas are gradually changing the outlook amid fears of a\u00a0recession setting in in the United States<\/a>.<\/p>\n

The impact of the war was nevertheless not expected to trigger a sell-off in the crypto market and most certainly not Bitcoin, especially with renowned hedge fund manager Paul Tudor Jones saying that he loved Bitcoin and gold at this time.<\/p>\n

<\/p>\n

If the US enters a recession, there is a high chance\u00a0Bitcoin will rally<\/a>. Investors would want to hedge against traditional assets and currencies like the US dollar using Bitcoin, in turn, creating the necessary momentum for a rally.<\/p>\n

Meanwhile, Santiment, a leading blockchain analytics firm has reported on a spike in active addresses related to the largest stablecoin, Tether (USDT). This has also led to an increase in exchange deposits mainly among wallets with between $1 million and $10 million USDT.<\/p>\n

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Significant increases in USDT balance on exchange indicate interest in future buys implying that investors are accumulating to purchase BTC at a later date.<\/p>\n

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\ud83e\udd11 #Tether<\/a> is seeing an increase in #onchain<\/a> activity, with active addresses hitting a 3-month high, largely due to increases in exchange deposits. Additionally, wallets with $1M-$10M in $USDT<\/a> have been accumulating. Both indicate interest in future buys. https:\/\/t.co\/qOUznVTgTb<\/a> pic.twitter.com\/cuDKWCnJwt<\/a><\/p>\n

\u2014 Santiment (@santimentfeed) October 10, 2023<\/a><\/p>\n<\/blockquote>\n

IntoTheBlock, another blockchain data analytics platform, has revealed that \u201ccompared to traditional financial markets, Bitcoin currently has the highest Sortino Ratio.\u201d In other words, BTC stands out as a \u201cmore favorable risk-adjusted return\u201d when analyzed against other mainstream assets.<\/p>\n

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Compared to traditional financial markets, Bitcoin currently has the highest Sortino Ratio, suggesting it offers a more favorable risk-adjusted return than other mainstream assets.
\ud83d\udd17https:\/\/t.co\/Wx8RxQwatF<\/a> pic.twitter.com\/oFYCsmwSbm<\/a><\/p>\n

\u2014 IntoTheBlock (@intotheblock) October 11, 2023<\/a><\/p>\n<\/blockquote>\n

How Far Can Bitcoin Price Dips Go?<\/h2>\n

The Relative Strength Index (RSI) reinforces the bearish outlook, with Bitcoin likely to retest support at $26,000. Dips below this buyer congestion could trigger a bigger sell-off to $25,000, with the possibility of extending to $23,500.<\/p>\n

\"Bitcoin<\/a>
BTC\/USD weekly chart | Tradingview<\/figcaption><\/figure>\n

Some analysts like Rekt Capital believe Bitcoin price is yet to bottom out ahead of its much-awaited halving event in 2024. His most recent technical update reveals that there is a higher probability of a sweep through liquidity at $22,000 and $20,000 before BTC eases into the bull run.<\/p>\n

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#BTC<\/a> <\/p>\n

Indeed, it is looking increasingly likely that ~$27150 has been turned into new resistance<\/p>\n

Of course, lots of time until the new Monthly Close<\/p>\n

But if October continues to be a weak month, Bitcoin may see confirmed downside continuation$BTC<\/a> #Crypto<\/a> #Bitcoin<\/a> pic.twitter.com\/fkZaws2QRM<\/a><\/p>\n

\u2014 Rekt Capital (@rektcapital) October 11, 2023<\/a><\/p>\n<\/blockquote>\n

An immediate recovery above $27,000 could help arrest the current bearish situation and increase confidence in the recovery to $30,000.<\/p>\n

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John is a renowned crypto analyst and journalist, providing expert insights into both broad and focused aspects of the digital asset market. As a steadfast reporter, he keeps his audience updated with the latest news in the crypto sphere, delving into topics such as price trends, on-chain data analytics, Non-Fungible Tokens (NFTs), Decentralized Finance (DeFi), Centralized Finance (CeFi), and the ever-evolving metaverse. <\/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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Bitcoin price has slid below $27,000 amid a spike in overhead pressure caused by concerns about the conflict between Israel and Hamas. Down 2.2% in the last 24 hours, the largest crypto is trading at $26,816 on Thursday. The gloomy market outlook is not unique to BTC, considering Ethereum is down 0.5% to $1,560 while […]<\/p>\n","protected":false},"author":2,"featured_media":172373,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-172372","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/172372","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=172372"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/172372\/revisions"}],"predecessor-version":[{"id":172375,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/172372\/revisions\/172375"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/172373"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=172372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=172372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=172372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}