The market analysts, however, remain optimistic, suggesting that ongoing macroeconomic factors point toward a potential trend reversal
Bitcoin is currently 4.25 per cent away from its all-time high of $123,091.60, scaled on July 14 this year
The availability of institutional-grade tools and improving regulatory clarity is encouraging a more sophisticated, professional investor base to participate in this evolving asset class
Market analysts, however, remain optimistic about the long run and expect the impact on the crypto market to be negative only in the short term
Market analysts suggest that the current consolidation of Bitcoin is short-term as investors are awaiting decisive breakout or breakdown signals
Bitcoin is currently 1.42 per cent lower from its all-time high of $109,114.88, scaled on January 20 of this year
Bitcoin, Piyush Walke - derivatives research analyst, Delta Exchange, said, may encounter resistance at $100,000, a significant psychological level, and again around $107,000
The world's most popular cryptocurrency, which also has the largest market capitalisation, has a 24-hour trading volume of $31.77 billion
If bulls can sustain these levels, a move toward the $93,000 resistance is possible, with support standing at $85,000
Israel launched an attack on Iranian soil on Friday, sources said, days after Iran launched a drone strike on Israel
Since Binance stopped its zero-fee trading program, there's been a sharp drop-off in daily Bitcoin volume, Medalie said. Current trends are about half what they were prior to the halt
SINGAPORE (Reuters) -Bitcoin neared a price level on Tuesday that could force software firm MicroStrategy Inc to add more tokens against a bitcoin-backed loan or trigger selling some of its vast holdings, setting fragile cryptocurrency markets on edge.
The governments and companies own close to 8 per cent of all Bitcoin in the world, roughly 1 million Bitcoin (BTC) worth $45 billion, and Bulgaria is the major holder of it, a report said
The average number of trades recorded daily has roughly dropped in half from the December highs and touched its lowest in two years last month