{"id":290241,"date":"2024-04-26T11:44:03","date_gmt":"2024-04-26T06:14:03","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=290241"},"modified":"2024-04-26T11:44:03","modified_gmt":"2024-04-26T06:14:03","slug":"bitcoin-btc-price-trading-in-post-halving-danger-zone-how-much-can-it-retrace-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-btc-price-trading-in-post-halving-danger-zone-how-much-can-it-retrace-crypto-news\/","title":{"rendered":"Bitcoin (BTC) Price Trading in Post-Halving Danger Zone, How Much Can It Retrace? – Crypto News"},"content":{"rendered":"

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The world\u2019s largest cryptocurrency Bitcoin came under selling pressure earlier this week falling under $65,000 as the US GDP growth and business activity slowed down. As of press time, the Bitcoin (BTC) price<\/a> is trading at $64,256 with a market cap of $1,265 trillion.<\/p>\n

Bitcoin price In Post-Halving \u2018Danger Zone\u2019<\/h3>\n

Crypto analyst Rekt Capital has raised concerns about a potential \u201cDanger Zone\u201d following Bitcoin\u2019s recent halving event. Drawing parallels to historical trends from 2016, Rekt Capital highlights a significant downside wick of approximately -11% that occurred around 21 days after the Halving, before a subsequent upward reversal.<\/p>\n

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With Bitcoin currently 6 days post-halving, attention is drawn to the possibility of downside volatility around the Re-Accumulation Range Low. Rekt Capital warns that if history repeats itself, this downside volatility could manifest over the next 15 days, termed the \u201cDanger Zone.\u201d While this period ends in 15 days, there remains a possibility of downside volatility at the $60600 Range Low in the meantime, according to historical analysis.<\/p>\n

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Courtesy: Rekt Capital<\/a><\/figcaption><\/figure>\n

Bitcoin\u2019s struggles persist as it faces rejection from the $65,600 resistance level, failing to establish it as support. Over several weeks, Bitcoin price has consistently shown downward movement towards the $60,600 liquidity pool, marked in green.<\/p>\n

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On the other hand, Bitcoin critic Peter Schiff<\/a> believes that $60,000 support won\u2019t hold and that the Bitcoin price is heading for even lower levels.<\/p>\n

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Tech Stock Rout Puts Pressure on BTC<\/h3>\n

Bitcoin\u2019s decline coincided with a downturn in major U.S. technology stocks, spurred by Meta Platforms Inc (NASDAQ: META) reporting a weaker-than-anticipated revenue forecast. Following Meta\u2019s 15% decline in after-hours trading, industry giants Microsoft Corporation (NASDAQ: MSFT) and Alphabet Inc (NASDAQ: GOOGL) also experienced drops of 2% and 3%, respectively.<\/p>\n

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Traditionally, Bitcoin\u2019s movement tends to mirror that of U.S. technology stocks, as both sectors are often seen as avenues for high-risk, high-return investments. However, this correlation had somewhat diminished earlier in the year, particularly with the introduction of spot exchange-traded funds in the U.S., which led to Bitcoin price outperformance.<\/p>\n

However, amid the uncertain macro scenario, Bitcoin ETFs<\/a> have registered net outflows showing a clear decelerating trend in the overall flows. Thursday\u2019s\u00a0GDP report<\/a>, which fell short of expectations, has left the Fed in a tight spot, limiting its options going forward. The data\u2019s implications have investors questioning the possibility of rate cuts by the Fed in 2024, pushing back expectations.<\/p>\n

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\u2713 Share:<\/p>\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 cryptocurrency Bitcoin came under selling pressure earlier this week falling under $65,000 as the US GDP growth and business activity slowed down. As of press time, the Bitcoin (BTC) price is trading at $64,256 with a market cap of $1,265 trillion. Bitcoin price In Post-Halving \u2018Danger Zone\u2019 Crypto analyst Rekt Capital has […]<\/p>\n","protected":false},"author":2,"featured_media":287383,"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-290241","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\/290241","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=290241"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/290241\/revisions"}],"predecessor-version":[{"id":290243,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/290241\/revisions\/290243"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/287383"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=290241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=290241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=290241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}