* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Wednesday, June 4, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Author Richard Russo Will Speak At Sandwich Town Hall – CapeNews.net

    Join Us for an Inspiring Evening with Author Richard Russo at Sandwich Town Hall!

    Entertainment Partners Acquires CASHét, Digital Payments Vendor for Productions – Variety

    Entertainment Partners Acquires CASHét, Digital Payments Vendor for Productions – Variety

    Salem’s Harborwalk Garden Cultivates Community with Entertainment, Food, and Events – 105.7 WROR

    Discover the Vibrant Community Spirit at Salem’s Harborwalk Garden: A Hub for Entertainment, Food, and Fun!

    Entertainment-Focused Narrative and Culture Change Practice – New America

    Transforming Culture Through Engaging Entertainment Narratives

    Rising stars: Young classical musicians surging on social media – Yahoo

    Meet the Next Generation of Classical Music Sensations Making Waves on Social Media!

    Devin Harjes Dies: ‘Manifest’ & ‘Boardwalk Empire’ Actor Was 41 – WyomingNews.com

    Tragic Loss: Devin Harjes, Star of ‘Manifest’ and ‘Boardwalk Empire,’ Passes Away at 41

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    The Isfahan Center for Nuclear Technology – UCF, ZPP, and IRR10 – Alma Research and Education Center

    Exploring the Isfahan Center for Nuclear Technology: Innovations and Insights from UCF, ZPP, and IRR10

    Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

    Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

    Finland Set to Lead EU Quantum Technology Defense Project – IoT World Today

    Finland Set to Lead EU Quantum Technology Defense Project – IoT World Today

    AI for lawyers: Win back your time using technology – nationaljurist.com

    Reclaim Your Time: How AI is Transforming the Legal Profession

    Prosecutors accuse men of exporting U.S. military technology to China – Milwaukee Journal Sentinel

    Men Charged with Illegally Exporting U.S. Military Technology to China

    ROLAND’S NEW WIRELESS TRIGGER TECHNOLOGY, PORTER & DAVIES ON TOUR, NEW 64 AUDIO ASPIRE UNIVERSAL IEM MODELS, WAVES FREE PLUGIN PACK – Modern Drummer Magazine

    ROLAND’S NEW WIRELESS TRIGGER TECHNOLOGY, PORTER & DAVIES ON TOUR, NEW 64 AUDIO ASPIRE UNIVERSAL IEM MODELS, WAVES FREE PLUGIN PACK – Modern Drummer Magazine

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Author Richard Russo Will Speak At Sandwich Town Hall – CapeNews.net

    Join Us for an Inspiring Evening with Author Richard Russo at Sandwich Town Hall!

    Entertainment Partners Acquires CASHét, Digital Payments Vendor for Productions – Variety

    Entertainment Partners Acquires CASHét, Digital Payments Vendor for Productions – Variety

    Salem’s Harborwalk Garden Cultivates Community with Entertainment, Food, and Events – 105.7 WROR

    Discover the Vibrant Community Spirit at Salem’s Harborwalk Garden: A Hub for Entertainment, Food, and Fun!

    Entertainment-Focused Narrative and Culture Change Practice – New America

    Transforming Culture Through Engaging Entertainment Narratives

    Rising stars: Young classical musicians surging on social media – Yahoo

    Meet the Next Generation of Classical Music Sensations Making Waves on Social Media!

    Devin Harjes Dies: ‘Manifest’ & ‘Boardwalk Empire’ Actor Was 41 – WyomingNews.com

    Tragic Loss: Devin Harjes, Star of ‘Manifest’ and ‘Boardwalk Empire,’ Passes Away at 41

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    The Isfahan Center for Nuclear Technology – UCF, ZPP, and IRR10 – Alma Research and Education Center

    Exploring the Isfahan Center for Nuclear Technology: Innovations and Insights from UCF, ZPP, and IRR10

    Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

    Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

    Finland Set to Lead EU Quantum Technology Defense Project – IoT World Today

    Finland Set to Lead EU Quantum Technology Defense Project – IoT World Today

    AI for lawyers: Win back your time using technology – nationaljurist.com

    Reclaim Your Time: How AI is Transforming the Legal Profession

    Prosecutors accuse men of exporting U.S. military technology to China – Milwaukee Journal Sentinel

    Men Charged with Illegally Exporting U.S. Military Technology to China

    ROLAND’S NEW WIRELESS TRIGGER TECHNOLOGY, PORTER & DAVIES ON TOUR, NEW 64 AUDIO ASPIRE UNIVERSAL IEM MODELS, WAVES FREE PLUGIN PACK – Modern Drummer Magazine

    ROLAND’S NEW WIRELESS TRIGGER TECHNOLOGY, PORTER & DAVIES ON TOUR, NEW 64 AUDIO ASPIRE UNIVERSAL IEM MODELS, WAVES FREE PLUGIN PACK – Modern Drummer Magazine

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Technology

Bitcoin Declines to $53,000, Analyst Predicts Further Downturn Ahead

July 6, 2024
in Technology
Bitcoin Declines to $53,000, Analyst Predicts Further Downturn Ahead
Share on FacebookShare on Twitter

Bitcoin plunged as low as $53,600 on Coinbase today, July 5, before recording a slight recovery. BTC’s decline marks its lowest point since February 2024, and analysts fear more woes ahead. 

Bitcoin is trading at $55,585, having declined 3.8% in the past 24 hours. Market analysts believe the fear of increased selling pressure from the Mt. Gox repayment is one factor likely limiting Bitcoin’s price.

Analyst Predicts Bearish Outlook for Bitcoin

Market Analyst at eToro, Josh Gilbert, highlighted some factors responsible for the ongoing sell-off. According to Gilbert, much of Bitcoin’s sell-off may be due to fears stemming from proposed Mt. Gox repayments, which will introduce over $8 billion worth of BTC to the market. 

Market watch for today! 📊#ASX to open lower, UK politics in focus, Iron ore futures climb.

1️⃣ $BTC drops below $60k amid US political uncertainty.
2️⃣ US jobs data: Expected 200k new jobs, 4% unemployment. 🧑‍💻

Get the full scoop ⤵️

— eToro Australia (@eToroAU) July 5, 2024

Gilbert also said political uncertainty from the upcoming elections could influence crypto market prices. 

The analyst noted that the US jobs data release is anticipated in a few hours. The forecast is 200,000 jobs in June, with an unemployment rate of 4%. This job data is crucial for the US Federal Reserve to determine the number of rate cuts for 2024. 

Gilbert believes that these macroeconomic factors influence asset prices in the crypto market. He expects more selling pressure, which could drive Bitcoin lower to the critical support level of $50,000 within the next week. 

In addition, the digital asset firm 10X Research predicts a decline to the $55,000-$50,000 price range ahead for Bitcoin. 10X Research believes the best strategy is to wait for recovery, as there is no rush in catching a falling knife. 

The platform warns that selling pressure could intensify as Bitcoin breaks below key support levels and traders rush to find liquidity.

Meanwhile, analyst Ali Charts believes the market has already hit its peak of excitement and is now cooling down. Therefore, a retracement phase to cool off before the next rally was inevitable.

In this cycle, we’ve witnessed the approval of #Bitcoin ETFs, #memecoin mania, and celebrities launching their own #altcoins!

But what if that was it? What if we’ve already hit euphoria and are now feeling complacent, thinking, “we just need to cool off for the next rally”? pic.twitter.com/aTCuppjTPF

— Ali (@ali_charts) July 4, 2024

Amid the bearish outlook, Gilbert identified a possible Feds rate cut as a catalyst for potential market recovery. He also noted that Ether ETF approval and sufficient but-the-dip actions from investors could activate a recovery phase. 

BTC Shows Price Volatility Today: What Comes Next?

Bitcoin Declines to $53,000, Analyst Predicts Further Downturn Ahead

BTC displayed positive price action between June 29 and July 1. However, the bears forced a decline from July 2, with Bitcoin recording four consecutive red days with lower lows.

Bitcoin has dropped below the $57,500 resistance level and is approaching the $53,600 support level. If this support fails to hold, BTC will decline to a low of $50,000 in the coming days. 

Moreover, Bitcoin is trading close to the lower band of the Donchian Channel (DC,) confirming intense selling pressure in the market.

Similarly, the RSI indicator is in the oversold region below 30, displaying a value of 25.84. The RSI indicator is still moving downwards, suggesting further price decline for Bitcoin.

Therefore, Bitcoin will likely trade in the $53,600-$50,000 price range in the coming days until the buyers regain momentum.

Disclaimer: The opinions expressed in this article do not constitute financial advice. We encourage readers to conduct their own research and determine their own risk tolerance before making any financial decisions. Cryptocurrency is a highly volatile, high-risk asset class.

The Tech Report - Editorial ProcessOur Editorial Process

The Tech Report editorial policy is centered on providing helpful, accurate content that offers real value to our readers. We only work with experienced writers who have specific knowledge in the topics they cover, including latest developments in technology, online privacy, cryptocurrencies, software, and more. Our editorial policy ensures that each topic is researched and curated by our in-house editors. We maintain rigorous journalistic standards, and every article is 100% written by real authors.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : TechReport – https://techreport.com/crypto-news/bitcoin-declines-to-53000-analyst-predicts-further-downturn-ahead/

Tags: Bitcoindeclinestechnology
Previous Post

Bitcoin Futures Open Interest Declines by $7 Billion – What is Behind this Retracement?

Next Post

This Crypto Startup Makes US Treasuries Accessible on Bitcoin

The Isfahan Center for Nuclear Technology – UCF, ZPP, and IRR10 – Alma Research and Education Center

Exploring the Isfahan Center for Nuclear Technology: Innovations and Insights from UCF, ZPP, and IRR10

June 4, 2025
FOX Sports Unveils Uefa Nations League Finals 2025™ Coverage With France, Spain, Germany, Portugal Headlining Final Field – Fox Sports Press Pass – FOX Sports

Excitement Builds as FOX Sports Reveals UEFA Nations League Finals 2025 Lineup Featuring France, Spain, Germany, and Portugal!

June 4, 2025
Collective dynamical regimes predict invasion success and impacts in microbial communities – Nature

Collective dynamical regimes predict invasion success and impacts in microbial communities – Nature

June 4, 2025
John Brenkus, ‘Sport Science’ Host, Died By Suicide, Medical Examiner Says – TMZ

Tragic Loss: ‘Sport Science’ Host John Brenkus Passes Away in Heartbreaking Circumstances

June 4, 2025
Meghan to take a break from As ever as she announces next step for those ‘wondering and waiting’ – Nine – Honey

Meghan to take a break from As ever as she announces next step for those ‘wondering and waiting’ – Nine – Honey

June 4, 2025
Aeternum Update 1.3.27 – newworld.com

Exciting New Features and Enhancements in Aeternum Update 1.3.27!

June 4, 2025
Larry Kudlow: Liberal media has been ‘completely wrong’ on the Trump economy – Fox Business

Larry Kudlow: Liberal media has been ‘completely wrong’ on the Trump economy – Fox Business

June 4, 2025
Author Richard Russo Will Speak At Sandwich Town Hall – CapeNews.net

Join Us for an Inspiring Evening with Author Richard Russo at Sandwich Town Hall!

June 4, 2025
Hochul, Jeffries raise concerns over possible impacts of One Big Beautiful Bill Act – Spectrum News

Hochul, Jeffries raise concerns over possible impacts of One Big Beautiful Bill Act – Spectrum News

June 4, 2025
Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

June 4, 2025

Categories

Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (664)
  • Economy (678)
  • Entertainment (21,584)
  • General (15,261)
  • Health (9,720)
  • Lifestyle (681)
  • News (22,149)
  • People (679)
  • Politics (687)
  • Science (15,898)
  • Sports (21,183)
  • Technology (15,665)
  • World (665)

Recent News

The Isfahan Center for Nuclear Technology – UCF, ZPP, and IRR10 – Alma Research and Education Center

Exploring the Isfahan Center for Nuclear Technology: Innovations and Insights from UCF, ZPP, and IRR10

June 4, 2025
FOX Sports Unveils Uefa Nations League Finals 2025™ Coverage With France, Spain, Germany, Portugal Headlining Final Field – Fox Sports Press Pass – FOX Sports

Excitement Builds as FOX Sports Reveals UEFA Nations League Finals 2025 Lineup Featuring France, Spain, Germany, and Portugal!

June 4, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version