![Meet Kripto PEPE, the Popular Meme Coin](https://todaysgist.com/wp-content/uploads/2023/05/Meet-Kripto-PEPE-the-Popular-Meme-Coin.jpg)
![Meet Kripto PEPE, the Popular Meme Coin](https://todaysgist.com/wp-content/uploads/2023/05/Meet-Kripto-PEPE-the-Popular-Meme-Coin.jpg)
Bitcoin Price Recovers to USD 63,800, How's the Sentiment This Week?
Follow Us @
Bitcoin Price Recovers to USD 63,800, How's the Sentiment This Week?
Previously, leading Bitcoin (BTC) onchain analyst Willy Woo revealed that the decline in the price of the top cryptocurrency to the range of USD 58,000 (Rp. 951.8 million) was driven by speculators who continued to open new buying positions.
Quoted from News.bitcoin.com, Thursday (6/27/2024) Willy Woo believes that these speculators contribute to more fuel for more liquidations in long-term pressure, which ultimately causes BTC to fall below the USD 60,000 (Rp. 984.6 million) range.
In a post on social media platform X, Willy Woo also attributed some of the pressure to bitcoin miners adjusting to the post-halving reality.
“Miners are selling BTC to pay for hardware upgrades because old hardware is no longer profitable. The weakest miners are closing shop and getting liquidated,” Willy Woo explained.
To cover the revenue shortfall, miners have been selling more BTC to the market than before the halving, he said.
However, in his post on June 24, 2024, Willy Woo described this as a culling of weak miners, which he said would be followed by a price increase.
To support his prediction of a BTC rebound, Willy Woo shared a chart that he said indicated a reversal.
However, the onchain analyst also warned that even if this prediction pans out, BTC still needs to clear the futures open interest in the system before prices can rise again.
Bitcoin Price Recovers to USD 63,800, How's the Sentiment This Week?
Follow TODAYSGIST on Google News and receive alerts for the main trending news on cryptocurrency, market trends, upcoming events, predictions, sanctions and lots more!
SHARE POST AND EARN REWARDS:
Did you like this post?!!! Join our Audience reward campaign and make money reading articles, shares, likes and comment >> Join reward Program
FIRST TIME REACTIONS:
Be the first to leave us a comment, down the comment section. click allow to follow this topic and get firsthand daily updates.
JOIN US ON OUR SOCIAL MEDIA: << FACEBOOK >> | << WHATSAPP >> | << TELEGRAM >> | << TWITTER >
#Bitcoin #Price #Recovers #USD #How39s #Sentiment #Week
- usa today entertainment3 months ago
Angry Birds Mystery Island (TV series 2024) Download Mp4 ▷ Todaysgist
- usa today entertainment3 months ago
Tour de France Unchained (2023) (French) (TV series) Download Mp4 ▷ Todaysgist
- usa today entertainment3 months ago
Mayor of Kingstown (TV series 2021) Download Mp4 ▷ Todaysgist
- Trend tech & Telecoms3 months ago
4 Indonesian Free Fire Teams Ready to Compete in the 2024 Esports World Cup
- usa today entertainment3 months ago
Raising Voices (2024) (Spanish) (TV series) Download Mp4 ▷ Todaysgist
- usa today entertainment3 months ago
Worst Roommate Ever (TV series 2022) Download Mp4 ▷ Todaysgist
- usa today entertainment3 months ago
Hitler and the Nazis, evil on trial (TV series 2024) Download Mp4 ▷ Todaysgist
- usa today entertainment3 months ago
Shoresy (TV series) Download Mp4 ▷ Todaysgist