Has Bitcoin reached the bottom?


Bitcoin is down 9.4%
over the past week, ending at around $31,000. Ethereum lost 16.1%, while other
leading altcoins in the top 10 fell from 13.9% (Binance Coin) to 25.4%
(Solana). The total capitalisation of the crypto market, according to
CoinMarketCap, sank 15% over the week to $1.30 trillion.

The bitcoin dominance
index jumped 2.9 points to 44.4% over the same period due to a sharp weakening
of altcoins. The cryptocurrency fear and greed index fell 8 points in the week
to 10 and continues to be in “extreme fear”. By Monday, the index had
climbed to 14 points, thanks to the cryptocurrency market’s retreat from local
lows at the end of last week. Bitcoin has declined for six weeks in a row,
along with stock indices.

A prolonged one-way
move in Bitcoin was last seen in late 2018 when the first cryptocurrency hit a
cyclical bottom. That was followed by many more months of sluggish momentum, so
investors have an essential question: choose a low point to buy or join the
move when it is certain. Prudence suggests that it is less risky to follow the
second strategy.

Last week’s decline
intensified after breaking through last year’s lows near $30,000, becoming the
most significant weekly drop since January. The story of the Terra (LUNA) crash
and the TerraUSD stablecoin project added to the negativity on the crypto
market, hitting all altcoins hard. According to Global Macro Investor CEO Raul
Pal, May and June will be the most worrying months, so a new wave of sell-offs
in the crypto market is inevitable.

Legendary investor
Bill Miller said he sold some of his BTC holdings. Although bitcoin may
continue to decline in the short term and even drop by half from current
levels, Miller looks at bitcoin positively and expects it to grow over a long
time. Robert Kiyosaki, the world-famous author of the bestselling book Rich
Daddy, Poor Daddy, is looking to buy bitcoin once it tests the ‘bottom’ at
$17,000. The businessman has once again expressed distrust of the US
government.

This article was written by FxPro’s Senior Market Analyst Alex
Kuptsikevich.



Source link

Related articles

Basic Surfer EA collection – Buying and selling Methods – 6 August 2025

The Subsequent Wave in Automated Buying and selling: Saying the Basic Surfer EA Sequence A New Commonplace Based mostly on a Decade of...

Bitcoin settles into $110k–$116k ‘air hole’ as market awaits contemporary demand

Bitcoin (BTC) is consolidating in a thin-liquidity “air hole” between $110,000 and $116,000 because the market waits for brand spanking new demand to determine a agency base.In line with an Aug. 6...

Figma’s IPO success is ‘a little bit little bit of a meme inventory,’ says Sapphire Ventures’ Jai Das

Figma managed one thing uncommon in as we speak’s market: it survived a failed Adobe acquisition, stayed impartial, and went public by itself phrases. However its post-IPO efficiency tells a extra complicated story...

PCIe 8.0 improvement kicks off with 1 TB/s bidirectional bandwidth goal

Simply months after finalizing the PCIe 7.0 specification, the Peripheral Part Interconnect Particular Curiosity Group (PCI-SIG) is already laying the groundwork for PCIe 8.0. Newly shaped technical workgroups have begun growing the next-generation...

Ebook Assessment: The Monetary Restructuring Device Set

The Monetary Restructuring Device Set: Learn how to Repair Your Damaged Stability Sheet. 2025. Mike Harmon. Columbia Enterprise Faculty Publishing. CFA...
spot_img

Latest articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

WP2Social Auto Publish Powered By : XYZScripts.com