Bitcoin Short-Term Holders Were Behind The Selloff To Below $36k

On-chain data shows Bitcoin short-term holders seem to have been behind the latest selloff that has taken the price of the crypto below $36k. Bitcoin Investors Holding Coins Aged Between 1 Day And 6 Months Sold Big Yesterday As pointed out by an analyst in a CryptoQuant post, short-term holders seem to have sold the heaviest during the recent selloff.

Timeline of Bitcoin

Widely-followed crypto analyst Benjamin Cowen is predicting that Bitcoin (BTC) will trade without a clear direction over the coming months. In a new strategy session, Cowen tells his 732,000 YouTube subscribers that Bitcoin is likely to experience “fairly choppy months ahead” as the Federal Reserve intensifies its inflation-fighting efforts, including raising interest rates. “As the The post Top Crypto Analyst Benjamin Cowen Says Bitcoin (BTC) To Experience Choppy Months Ahead – Here's Why appeared first on The Daily Hodl.

Two members of the US Senate are writing a letter to financial services giant Fidelity presenting issues with the firm's new plans to offer Bitcoin (BTC) as an option for 401(k) retirement plans. In a letter penned to Fidelity CEO Abigail Johnson, Senators Elizabeth Warren of Massachusetts and Tina Smith of Minnesota express doubts about The post Two US Senators Pen Letter to Fidelity CEO Detailing Concerns With Proposed Bitcoin 401(k) Retirement Plans appeared first on The Daily Hodl.

Senator Elizabeth Warren and Tina Smith have written a letter to Fidelity over its decision to allow Bitcoin investments in its 401(k) plans.  The letter asked the investment firm why it failed to heed the Department of Labor (DOL) warning regarding crypto investments as part of pension retirement plans.

Widely-followed crypto analyst Justin Bennett says Bitcoin (BTC), Ethereum (ETH), and VeChain (VET) should all expect lower lows before their next legs up. In the latest edition of the trader's Crypocademy newsletter, Bennett forecasts that BTC will drop to $35,000 before bouncing back up. “Bitcoin is bouncing today from the $37,600 area, which served as support in The post Top Crypto Trader Says Bouncing Bitcoin (BTC) To Test Lower Lows, Examines Ethereum (ETH) and VeChain (VET) appeared first on The Daily Hodl.

Admit it – Bitcoin's rally slowed down and went into reverse and maybe you found yourself not just losing faith in cryptos, but also metaverse tokens and NFTs. Maybe you even wondered if the NFT era was over.

A popular crypto trader is giving a gloomy forecast for Bitcoin (BTC) and Ethereum (ETH) as the two largest crypto assets by market cap plunge deeper into the red territory. Pseudonymous crypto analyst Capo tells his 265,300 followers on Twitter that Bitcoin is in a downtrend and warns that buying BTC when the price seems The post Top Crypto Trader Warns of an Unfolding Bitcoin (BTC) Bull Trap, Predicts Ethereum (ETH) Will Drop Over 50% appeared first on The Daily Hodl.

Bitcoin, Ethereum, and other major cryptocurrencies crashed, wiping around $100 billion from the combined crypto market. At press time, the global cryptocurrency market cap dropped by more than 7% to $1.6 trillion.

Senator Warren voiced concerns about the “risky and speculative” decision taken by Fidelity to include BTC accounts in 401(K) retirement programs.  Senators' Letter Expresses Concerns Last week, Fidelity Investment announced that it would be allowing 401(K) holders to be able to add a Bitcoin account to their retirement plans.

Bitcoin price analysis is bullish today as we have seen another quick spike lower faced with a reaction higher at the $35,500. Therefore, BTC/USD has likely exhausted its bearish pressure, and a retracement is due to follow over the weekend.

Bitcoin (BTC/USD) continued to suffer from weak technical sentiment early in the Asian session as the pair continued to languish well below the psychologically-important 40000 figure following acute selling pressure that slowed around the 35568 area.  Significant Stops were elected below the 37450, 37151, 36758, 36545, 36351, 36208, 35995, 35842, and 35775 areas, downside price objectives related to selling pressure that originated around the 47469, 47200, 48240, and 43443 levels.