Bitcoin Holds above $28,000 Support as Bulls Have Temporary Bearish Break

The price of Bitcoin (BTC) has continued its downward trend after the largest cryptocurrency lost the psychological price level of $30,000 on May 9. After 48 hours, Bitcoin failed to hold above the $30,000 support while the market fell back to the low of $26,854.

Timeline of Bitcoin

Bitcoin's price has collapsed to its lowest in 16 months today amidst the huge sell-off of the digital assets in the crypto market. Other major cryptocurrencies that saw a downfall alongside these risk assets are tech stocks. At the moment the world's largest cryptocurrency by market capitalization has dropped by 14% over the last 24hrs …

In the early hours of Thursday (UTC time), Bitcoin fell below $26,000, partly due to fiat-backed stablecoin Tether ($USDT) temporarily losing its peg. However, currently, $USDT is looking healthier and so does Bitcoin. According to data by TradingView, on crypto exchange Bitstamp, the Bitcoin price fell to around $25,499 — which is the lowest it

Global blockchain technology company Distributed Ledger Inc. and GulfQuest Maritime Museum have joined forces to develop a sustainable bitcoin mining project that has recently been approved by the City of Mobile, Alabama. Joint Efforts to Boost Bitcoin Adoption According to…

Bitcoin (BTC) is trading below $30,000 on Thursday amid a broader market downturn that's been led by the troubled Terra ecosystem. The post Bitcoin tumbles below $30,000 as negative sentiment spreads in wake of UST de-peg appeared first on The Block.

Bitcoin has been losing value for months because of, among other market variables, limited liquidity circumstances and targeted dumping of high beta technology equities. Since the 2008 global financial crisis, low interest rates have caused broad market valuations to reach extraordinary levels.

As Bitcoin to a new low, other cryptos also plunged likewise including Ethereum, Solana, and Ripple. The market cap of the crypto industry even fell to $1.37 trillion representing the plight of investors.

The cryptocurrency market's fate doesn't look to settle anytime soon as the bears are all geared up, dragging the global market down by 19.38% over the past day trading at $1.14 trillion and leaving the market to bleed.  This movement has bought the flagship currency below $27,000, one that was never seen in 16 months. …

China has recently banned financial institutions and payment companies from providing services to cryptocurrency transactions. Saying that financial institutions, including banks, and online payments channels, must not offer clients any service involving cryptocurrency activities.  Crypto-related activities in China have now received little tolerance in the country. Cryptocurrency in China is protected by Chinese law which …

Bitcoin price has extended its losses after the flagship currency dropped below $30,000 and this price action was seen for the first time since July 2021. The currency did recover a bit trying hard to hold on to $30,000. However, the world's first cryptocurrency tanked below $30,000 again just after the news spread that the …

Bitcoin (BTC) price dropped below $27k today amid the market-wide pressure predominantly due to the latest U.S. Consumer Price Index (CPI) data. Veteran trader Peter Brandt, who predicted the Bitcoin fall to $28k when the price was trading near $39k, has a new forecast.