Bitcoin News Thebittimes.Com

After months of rallying and predominantly trading in the green zone, Bitcoin (BTC) faces a new sobering reality, with the maiden cryptocurrency poised to close April with losses. These losses come after the asset enjoyed a seven-month streak of bullish price movements, highlighted by key events such as the approval of the first US spot Bitcoin exchange-traded fund (ETF) and the halving. Reviewing the asset’s price, crypto trading expert TradingShot suggested in a TradingView post on April 30 that the one-month decline should not cause alarm. Notably, amid the price drop, Bitcoin has struggled to maintain its valuation above $60,000, with concerns that a slip below this level could result in further losses. Picks for you Backed Finance AG secures $9.5 million in a Series A funding round 20 mins ago Crypto traders lost $100 million in 4 hours as the market crashed 53 mins ago Promising Ethereum tokens to invest in May 2024 1 hour ago Cardano price p...

The past week had been quite volatile for Bitcoin. From last Monday’s high of $21.06k, the largest crypto asset’s price dropped down to a low of $15.58k by Wednesday. Nevertheless, some stabilization and recovery were noted after that. Even though the candles registered during the weekend—on both Saturday and Sunday—were in red, not much downward deviation was noted. By and large, BTC oscillated in the $16k-$17k bracket during the said period. BTC/USDT | Source: TradingView Bitcoin exchange outflows peak Bitcoin exchange outflows just created a new record high. According to data from the on-chain analytics platform Glassnode, the number of withdrawals on exchanges reached an 18-month high of 3,445.613 on Monday. Source: Glassnode Coins leaving exchanges usually indicate that HODLers are buying. However, this time seems to be slightly different. With crypto exchange FTX on the verge of collapse, investors have been moving away from Centralized Fina...