Bitcoin struggles as momentum traders shift focus to chip stocks

Strategy’s CEO rejected rumors that the company’s bitcoin strategy has changed, reaffirming its goal of increasing both net bitcoin holdings and bitcoin per share. His comments aligned with Michael Saylor’s continued bullish outlook on BTC. Strategy’s Bitcoin Sale Sparks Questions About Long-Term BTC Growth Strategy (Nasdaq: MSTR) faces a key market question after its bitcoin […]

Bitcoin’s bearish structure over the past few weeks has raised clear concerns about the flagship cryptocurrency’s future. Amid these concerns are speculations concerning its trajectory, some of which point to bottoms as low as $25,000. However, an on-chain analyst recently took to the social media platform X to explain why Bitcoin’s fall to $25,000 is an unlikely scenario in its current cycle. Electrical Cost Model Points To Potential Bitcoin Bottom In a June 6 post on X, crypto analyst Ted Pillows implied that the Bitcoin price might see further declines before a definitive bear market bottom is established. This conjecture is based on the Bitcoin Electrical Cost model.  For context, the model estimates Bitcoin’s fundamental production costs by measuring the electricity required to mine new BTC. Because mining operations tend to consume substantial amounts of energy, the metric is often used as a proxy for Bitcoin’s inherent value. This is because it represents the minimum price at wh

Escalating US-Iran tensions could destabilize global oil markets and heighten regulatory risks in the crypto sector, impacting investor confidence. The post US military strikes Iranian radar sites after drone threat near Strait of Hormuz, Bitcoin drops below $77K appeared first on Crypto Briefing.

While bitcoin trades more than 50% beneath its all-time peak above $126,000 recorded last October, gold proponent Peter Schiff remains convinced the asset has considerably further to fall. This weekend, Schiff conducted a poll asking: “How low does bitcoin’s price have to fall before you bitcoiners concede that I’ve been right all along?” Among the […]

XRP could be on track for one of its biggest price moves ever — but investors may need to wait until late 2027 or even 2028 to see it play out. A Long Road Ahead That’s the view from market analyst Dr Cat, who recently flagged $1.034 as a compelling long-term buy zone for the token. According to the analyst, that price level lines up with a thick Ichimoku Cloud support zone on the charts, which he sees as offering a strong risk-to-reward setup for patient buyers. Related Reading: Bitcoin Price Plunges To $59K, Sparking Fears Of Deeper Decline The price he’s projecting – the $30 target – would represent a gain of roughly 2,600% from XRP’s recent low of $1.09. That kind of move would rank among the largest in the token’s history. The Numbers Behind The Call The forecast, however, comes with conditions attached. Dr Cat’s model assumes XRP would need to trade at around 12,000 satoshis against Bitcoin, while Bitcoin itself would have to climb to approximately $250,000. Both would need to ha

A pseudonymous crypto analyst has revealed that the Ethereum-to-Bitcoin pair has fallen back down to a price region that once preceded the bullish run seen in Ethereum’s past cycle. Related Reading: Bitcoin Reserves Resuscitation, Iran War Falls Into The Background, But What’s Going On With BTC? ETH/BTC Structure Mirrors 2020 Chart Before Reversal In an […]

Michael Saylor renewed attention on Strategy’s bitcoin plans after the company’s rare 32 BTC sale sparked debate among investors. His latest post shifted focus back to Strategy’s 843,706 BTC reserve and the possibility of future acquisitions. Saylor’s Post Refocuses Traders After Strategy’s Rare Bitcoin Sale Michael Saylor, executive chairman of Strategy (Nasdaq: MSTR), has renewed […]

Bitcoin realized losses remained below the $211 billion tally from 2022, leading to a prediction that the next bear-market bottom was not yet in.