Bitcoin Price Dips Below $9.5K as Whale Deposits 600 BTC to BitMEX

pubblicato su by Cointele | pubblicato su

Menzionato in questo articolo
Bitcoin fell below $9,500 for the first time in almost two weeks on Feb. 17 as downward pressure continued to pressure markets.

BTC further rejects $10K. Data from Coin360 and Cointelegraph Markets showed BTC/USD hitting twelve-day lows of $9,485 on Monday.

At press time, the BTC price was struggling to find support at $9,500.

The shift lower followed a four-day slide for Bitcoin, which had topped out at $10,500 before seeing considerable resistance kick in.

Some traders appeared worried, as evidenced by a single deposit onto derivatives giant BitMEX on Monday, which totaled 600 BTC. Weekly losses totaled around 3.5% on the day, while monthly performance remained strong at 7% growth.

As Cointelegraph reported, year-to-date returns for Bitcoin investors likewise remain intact at nearly 40%.Bitcoin 1-day price chart.

Speaking in an interview over the weekend, TV host Max Keiser said that he had "Officially" raised his BTC/USD outlook for the first time since 2012.

Now, he said, Bitcoin would not stop at $100,000, but instead, reach four times that amount - $400,000.

Current levels nonetheless mean Bitcoin is frontrunning technical expectations for its average price prior to the May 2020 block reward halving.

According to calculations using the historically accurate stock-to-flow model, the cryptocurrency should trade at an average of $8,600 until May.Keep track of top crypto markets in real time here.

x