Close Menu
  • Home
  • Altcoin
  • Bitcoin
  • Crypto
  • Forex
  • Online Money
What's Hot

What is Tokenised Equity? – Bitfinex blog

October 26, 2025

InstaTrade – A Bright Success at Forex Expo Dubai 2025! Diamond Sponsor, Industry Recognition, and Special Prizes « Blog InstaForex

October 26, 2025

Why Canada’s Reagan Tariff Ad Made President Trump so Angry

October 26, 2025
Facebook X (Twitter) Instagram
  • Altcoin
  • Bitcoin
  • Crypto
  • Forex
  • Online Money
Facebook X (Twitter) Instagram
Cointelegraphe
  • Home
  • Altcoin
  • Bitcoin
  • Crypto
  • Forex
  • Online Money
Cointelegraphe
Home»Altcoin»Bitcoin Price Dumps Below $41,000 Amid Uncertainty
Bitcoin Price Dumps Below ,000 Amid Uncertainty
Altcoin

Bitcoin Price Dumps Below $41,000 Amid Uncertainty

adminBy adminJuly 30, 2024No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


Bitcoin price dumped hard on Monday, briefly slipping below $41,000, erasing gains recorded in the previous week. The premier cryptocurrency seems to have exhausted its recent rally propelled by industry vulnerabilities. At the time of writing, the world’s largest cryptocurrency was trading slightly lower at $41,385. Bitcoin’s total market cap has dipped by 2% over the past day, while the total volume of BTC tokens traded over the same period climbed by 58%.

Fundamentals

Bitcoin price has been facing retracements and a rollercoaster over the past few days after recently rocketing to a 20-month peak. On-chain data has suggested that many investors used the opportunity to take some profits, leading to a decline in the asset’s price.

Bitcoin’s price slump is mirrored in the wider crypto market, with the global crypto market cap decreasing by 1.85% over the past 24 hours to $1.55 trillion. The total crypto market volume has increased by 32% over the same period. The Crypto Fear and Greed Index has plunged from a level of extreme greed to a greed level of 70, suggesting a decline in risk appetite.

Ethereum, the largest altcoin by market capitalization, is currently trading at $2,167, down almost 3% for the day. Meme coins have been hit hard by the market slump, with Dogecoin and Shiba Inu down by more than 4% over the last day.

Last week on Thursday, cryptocurrency experts took notice of the vulnerability associated with various Web3 interactions. The issue had to do with the library of Ledger, the popular hardware wallet provider. The Ledger’s vulnerabilities saw $600,000 drained, impacting the entire crypto market. Bitcoin shed almost $2,000 and bounced off almost immediately following the Ledger fix, leaving millions in liquidated positions.

Bitcoin Price Outlook

The daily chart shows that the Bitcoin price has been experiencing a lack of momentum, inverting its recent rally towards $45,000. The digital asset has been experiencing a lack of momentum, characterized by a sequence of downturns. Even so, Bitcoin remains above the 50-day and 200-day exponential moving averages. Its Relative Strength Index (RSI) has dropped below the signal line, indicating an increase in selling pressure.

As such, the Bitcoin price is likely to continue trading within the tight range of $40,750 and $42,500 in the immediate term. Investors will be eyeing several technical indicators, including moving averages, for clues about Bitcoin’s next move. A drop below the critical level of $40,000 might push the price lower to the 50 DMA at $38,530.

BTC Price Chart





Source link

bitcoin Dumps Price Uncertainty
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
admin
  • Website

Related Posts

Bitcoin’s Next Bull Phase Could Be Near As BTC-Stablecoin Ratio Plummets

October 23, 2025

Taproot Assets – Bitcoin As A Medium Of Exchange

October 22, 2025

Bitcoin At A Battleground — This Price Range Will Decide the Next Cycle Phase

October 22, 2025

BTC Holds Steady as Market Resets After Leverage Flush

October 21, 2025
Add A Comment
Leave A Reply Cancel Reply

Top Insights

What is Tokenised Equity? – Bitfinex blog

October 26, 2025

InstaTrade – A Bright Success at Forex Expo Dubai 2025! Diamond Sponsor, Industry Recognition, and Special Prizes « Blog InstaForex

October 26, 2025

Why Canada’s Reagan Tariff Ad Made President Trump so Angry

October 26, 2025

litecoin – how to get my stolen crypto back

October 25, 2025
ads

Subscribe to Updates

Get the latest creative news from Cointelegraphe about Crypto, bItcoin and Altcoin.

About Us
About Us

At CoinTelegraphe, we are dedicated to bringing you the latest and most insightful news, analysis, and updates from the dynamic world of cryptocurrency. Our mission is to provide our readers with accurate, timely, and comprehensive information to help them navigate the complexities of the crypto market.

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

What is Tokenised Equity? – Bitfinex blog

October 26, 2025

InstaTrade – A Bright Success at Forex Expo Dubai 2025! Diamond Sponsor, Industry Recognition, and Special Prizes « Blog InstaForex

October 26, 2025

Why Canada’s Reagan Tariff Ad Made President Trump so Angry

October 26, 2025
Get Informed

Subscribe to Updates

Get the latest creative news from Cointelegraphe about Crypto, bItcoin and Altcoin.

Please enable JavaScript in your browser to complete this form.
Loading
  • About us
  • Contact Us
  • Shop
  • Privacy Policy
  • Terms and Conditions
Copyright 2024 Cointelegraphe Design By Horaam Sultan.

Type above and press Enter to search. Press Esc to cancel.