{"id":270529,"date":"2024-03-23T22:43:55","date_gmt":"2024-03-23T17:13:55","guid":{"rendered":"https:\/\/dripp.zone\/news\/bitcoin-price-under-healthy-retracement-hints-a-retest-to-70k-crypto-news\/"},"modified":"2024-03-23T22:43:58","modified_gmt":"2024-03-23T17:13:58","slug":"bitcoin-price-under-healthy-retracement-hints-a-retest-to-70k-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-price-under-healthy-retracement-hints-a-retest-to-70k-crypto-news\/","title":{"rendered":"Bitcoin Price Under Healthy Retracement Hints a Retest to $70K &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><span style=\"font-weight: 400;\">Bitcoin Price: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/blog\/bitcoin-halving-history-chart-analysed\/\">Bitcoin<\/a> the largest cryptocurrency by market has been under a correction trend for the past 2 weeks. From its new all-time high of $73750, the BTC price tumbled over 17.5% to seek support at $60000. As the asset grapples to provide a sustainable recovery from this psychological level, the market participants can anticipate further correction in the coming week.<\/span><\/p>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/markets\/4-cheap-under-1-altcoins-to-dca-as-bitcoin-bleeds-for-100x-potential\/\">4 Cheap Under $1 Altcoins To DCA As Bitcoin Bleeds For 100X Potential<\/a><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<h2><b>Demand Pressure at $60K Keeps Recovery Trend Intact<\/b><\/h2>\n<figure style=\"width: 1946px\" class=\"wp-caption alignnone\"><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/s3.tradingview.com\/snapshots\/a\/ayGFRDby.png\" alt=\"BINANCE:BTCUSDT Chart \" width=\"1946\" height=\"937\"\/><\/noscript><figcaption class=\"wp-caption-text\">Bitcoin Price| Tradingview<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">March has been a roller coaster ride for Bitcoin holders as the first half boosted the optimism with new highs but the second hints at a profound correction. The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/bitcoin\/\">Bitcoin price<\/a> currently trading at $65115 and found a demand zone at the confluence of $60000 and 38.2% Fibonacci retracement level.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">While the newfound support bolsters buyers for renewed recovery, the increasing outflow in BTC ETFs is accelerating the supply pressure. On March 22, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/analyst-says-bitcoin-btc-price-influenced-by-forces-beyond-etf\/\">Bitcoin spot ETFs<\/a> saw a total net outflow of $51.6 million, with Grayscale\u2019s GBTC experiencing a significant single-day net outflow of $169 million, according to Wu Blockchain\u2019s analysis of SoSoValue data.<\/span><\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">According to SoSoValue, Bitcoin spot ETFs saw total net outflows of $51.6m on March 22. Grayscale ETF GBTC saw a single-day net outflow of $169m. BlackRock ETF IBIT saw single-day net inflows of just $18.89m, marking two days of record lows. Fidelity ETF FBTC saw single-day net\u2026 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/BMlhtRR99b\">pic.twitter.com\/BMlhtRR99b<\/a><\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1771390574475858061?ref_src=twsrc%5Etfw\">March 23, 2024<\/a><\/p>\n<\/blockquote>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<p><span style=\"font-weight: 400;\">If the supply pressure persists, the BTC price could break below $60000 and seek next support 50% retracement level at the $56250 mark. Until this level, a retracement phase is considered healthy and suitable to recuperate the exhausted bullish momentum.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Thus, if the buyers manage to sustain above the aforementioned supports, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/kraken-uk-chief-endorses-bitcoin-etfs-for-british-investors\/\">BTC<\/a> price could rebound strongly in the coming weeks and aim to surpass the $73750 high.<\/span><\/p>\n<h2><b>Bitcoin Volatility Looms as Long-Inactive Tokens Hit the Market<\/b><\/h2>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<p><span style=\"font-weight: 400;\">Bitcoin has recently undergone a notable shift in its trading dynamics, as highlighted by trader @alicharts. There\u2019s been an unprecedented activation of dormant Bitcoin tokens, marking the largest such movement in the past two years. This indicator is viewed as a signal of impending market movements, as long-dormant coins can impact the market\u2019s supply-demand balance and potentially lead to a period of increased trading volatility.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> has just witnessed its biggest surge in dormant <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> tokens changing hands in more than two years, signaling a potential increase in price volatility ahead. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/8tLXOrVI8U\">pic.twitter.com\/8tLXOrVI8U<\/a><\/p>\n<p>\u2014 Ali (@ali_charts) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ali_charts\/status\/1771527699741180274?ref_src=twsrc%5Etfw\">March 23, 2024<\/a><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">The uncertain price behavior usually attracts a bearish outlook and could lead to the Bitcoin price correction below $56250. Losing this support may hint at extended correction or sideways action for the coming month.<\/span><\/p>\n<h2><b>Technical Indicator\u00a0<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Exponential Moving Average: <\/b><span style=\"font-weight: 400;\">The BTC price above 100-and-200-day <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/exponential-moving-average-how-to-leverage-it-in-crypto-market\/\">EMA<\/a> reflects the long-term remains bullish.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Vortex Indicator: <\/b><span style=\"font-weight: 400;\">A bearish crossover between VI+(blue) and VI-(pink) slope indicates the sellers are strengthening their grip over this asset.<\/span><\/li>\n<\/ul>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<p class=\"m-0\">Related Articles<\/p>\n<div class=\"m-on mobiless\">\n<div id=\"social-section-new\">\n<p>\u2713 Share:<\/p>\n<p>                                  <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new wp_new\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/markets\/bitcoin-price-under-healthy-retracement-hints-a-retest-to-70k\/\" style=\"display: block\">  <i class=\"fa fa-whatsapp\"\/><\/a><\/p>\n<div>\n                                <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new tw_new_logo\" href=\"https:\/\/twitter.com\/intent\/tweet?text=https:\/\/coingape.com\/markets\/bitcoin-price-under-healthy-retracement-hints-a-retest-to-70k\/\"><br \/>\n  <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"30\" height=\"30\"\/><br \/>\n<\/a>\n                                <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>          <!-- \n\n<div class=\"m-on pl-2 pr-2\">\n            \n\n<div class=\"row\">\n            \n\n<div class=\"col-6 pr-2\">\n         \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-7-crypto-marketing-firms-of-the-year\/?utm_source=abovesidebartabnews&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                  \n\n<div class=\"col-6 pl-2\">\n                 \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-10-web-3-games-to-explore-in-2023-here-list\/\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/23134356\/jpg_20221223_134223_0000.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                <\/div>\n\n\n        <\/div>\n\n                    --><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA187703\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading                         <\/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\/a533fdcf650a1d3d3b6a452bcef2d18a?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\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?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=\"TabD187703\">\n<p>  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. 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been under a correction trend for the past 2 weeks. From its new all-time high of $73750, the BTC price tumbled over 17.5% to seek support at $60000. As the asset grapples to provide a sustainable recovery from this psychological level, the market participants can anticipate [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":270460,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-270529","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/270529","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=270529"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/270529\/revisions"}],"predecessor-version":[{"id":270530,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/270529\/revisions\/270530"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/270460"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=270529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=270529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=270529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}