Bitcoin's 5.6% Price Slide Takes It Below $66K... Except In This One Country
Portfolio Pulse from Murtuza Merchant
Bitcoin's price fell by 5.6% to $65,580 ahead of the halving event, with $135.3 million in long positions liquidated. Despite high interest rates, this drop seems unrelated to the Fed's upcoming decision. Trading volume surged by 40%, with significant activity in USDT and FDUSD pairs. In South Korea, Bitcoin's price reached $71,295. The market saw $354.20 million in long position liquidations. These topics are expected to be discussed at Benzinga's Future of Digital Assets conference.
April 02, 2024 | 8:40 pm
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Bitcoin's price fell to $65,580, a 5.6% decrease, with significant liquidations and a surge in trading volume. The upcoming halving event and Fed's decision are key factors to watch.
The price drop and subsequent market liquidations indicate a short-term bearish outlook for Bitcoin, especially with the halving event approaching. The increased trading volume suggests heightened market activity, possibly as investors reposition. The Fed's decision remains a wildcard, but its historical impact on risk assets like Bitcoin cannot be ignored.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100