Bitcoin, Ethereum, Dogecoin Fall Amid Uncertainty Over Potential Sell-Off By US Government: Analyst Anticipates Upside To $63.5K-$65K For King Crypto After Initial Shakeout
Portfolio Pulse from Aniket Verma
Leading cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin, experienced declines amid concerns over high inflation and potential Bitcoin liquidation by the US government. Analysts predict a possible Bitcoin breakout to $63.5K-$65K after initial market shakeout.
October 14, 2024 | 1:53 am
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Bitcoin's price fell below $63,000 due to concerns over potential US government liquidation of seized Bitcoin. Analysts predict a possible breakout to $63.5K-$65K after initial market shakeout.
Bitcoin's price is directly affected by the potential liquidation of seized Bitcoin by the US government. The market is currently in a neutral sentiment, and analysts predict a possible breakout after initial consolidation.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Dogecoin's price fell amid broader cryptocurrency market concerns, including potential Bitcoin liquidation by the US government.
Dogecoin's price decline is part of the broader cryptocurrency market trend affected by potential Bitcoin liquidation and inflation concerns.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Ethereum faced resistance around $2,500 amid broader market concerns. Year-to-date gains have narrowed due to a multi-month downtrend.
Ethereum's price is influenced by the overall market sentiment and resistance levels. The broader market concerns, including potential Bitcoin liquidation, contribute to its current price struggles.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80