{"id":569770,"date":"2024-01-16T11:30:14","date_gmt":"2024-01-16T11:30:14","guid":{"rendered":"https:\/\/wncen.com\/?p=569770"},"modified":"2024-06-11T10:43:57","modified_gmt":"2024-06-11T10:43:57","slug":"bitcoin-bearish-forecast-analyst-signals-continued-downfall","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-bearish-forecast-analyst-signals-continued-downfall\/","title":{"rendered":"Bitcoin Bearish Forecast: Analyst Signals Continued Downfall"},"content":{"rendered":"

The price of <\/span>Bitcoin<\/span><\/a> appears to be experiencing a bearish moment in the past few days now despite the approval of multiple Bitcoin Spot Exchange-Traded Funds (ETFs), which has raised speculations about the token’s future.<\/span><\/p>\n

Bitcoin Could See Further Collapse<\/span><\/h2>\n

Bitcoinhyper, a cryptocurrency analyst, has offered his insights on the current state of Bitcoin. The analyst <\/span>unveiled<\/span><\/a> his predictions to the community during one of his YouTube videos.<\/span><\/p>\n

According to him, BTC is currently undergoing a decline, which could potentially lead to a further collapse in price. In the beginning, Bitcoinhyper noted an upswing in the price of Bitcoin to $49,000 following the approval of BTC spot ETFs by the SEC.\u00a0<\/span><\/p>\n

Related Reading: How Low Can Bitcoin Go? CryptoQuant Head Reveals Target<\/a><\/div>\n

However, the market did not react as anticipated, and there was a notable decline from the $49,000 price mark.\u00a0 “Unfortunately, we got a significant dump, and in rejection, from $49,000,” he stated.<\/span><\/p>\n

The analyst highlighted that BTC was up for several days before the ETF approval, with experts anticipating the crypto would hit $50,000. Thus, in a surprising turn of events, the asset’s price witnessed a drop of about 16%.<\/span><\/p>\n

\"Bitcoin\"
A correction from $49,000 | Source: Bitcoinhyper on YouTube<\/a><\/figcaption><\/figure>\n

In spite of the Bitcoin spot ETF<\/a> approval, the market’s perception swiftly took an unpleasant shift. The correction took retail investors by surprise as they were unprepared since they had assumed that the price would rise.<\/span><\/p>\n

With the crypto asset experiencing such a collapse in price, it is believed that the market will see a massive liquidation. Remarkably, during this decline, liquidations were not as large as anticipated.<\/span><\/p>\n

Bitcoinhyper noted that during the decline, around $18.8 million in short positions were liquidated, which is less than expected. The news caused traders to become overconfident while ignoring the possibility of a correction.<\/span><\/p>\n

No Positive Impact On BTC Price Despite Substantial Inflow<\/span><\/h2>\n

Reportedly, Bitcoin <\/span>saw<\/span><\/a> a whopping $1.18 billion inflow in digital assets funds worldwide following ETF approval. Despite the significant inflow of capital, the anticipated impact of boosting the price of BTC has not yet been realized.<\/span><\/p>\n

Related Reading: How Spot Bitcoin ETFs Could Catapult BTC Price To $500,000, According To This Crypto Trader<\/a><\/div>\n

On Monday, January 15, the price of BTC dropped below the support level of $42,000 as traders turned to Ethereum and <\/span>other tokens<\/span><\/a>. The approval of ETFs might be a “<\/span>sell the news<\/span><\/a>” moment, as BTC had dropped by 16% since the announcement.<\/span><\/p>\n

As of now, it is crucial to observe that the market is becoming less enthusiastic about Bitcoin ETFs. A lot of people are now discussing the potential for an <\/span>Ethereum ETF<\/span><\/a>.<\/span><\/p>\n

Currently, Bitcoin is trading at $42,951, indicating a decline of over 7% in the past seven days. Its trading volume is up by 3.86% in the last 24 hours, while its market cap is up by 0.75%, according to CoinMarketCap.<\/span><\/p>\n

\"Bitcoin\"
BTC trading at $43,040 on the 1D chart | Source: BTCUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image from iStock, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The price of Bitcoin appears to be experiencing a bearish moment in the past few days now despite the approval of multiple Bitcoin Spot Exchange-Traded Funds (ETFs), which has raised speculations about the token’s future. Bitcoin Could See Further Collapse Bitcoinhyper, a cryptocurrency analyst, has offered his insights on the current state of Bitcoin. The analyst unveiled his predictions to the community during one of his YouTube videos. According to him, BTC is currently undergoing a decline, which could potentially lead to a further collapse in price. In the beginning, Bitcoinhyper noted an upswing in the price of Bitcoin to $49,000 following the approval of BTC spot ETFs by the SEC.\u00a0 Related Reading: How Low Can Bitcoin Go? CryptoQuant Head Reveals Target However, the market did not react as anticipated, and there was a notable decline from the $49,000 price mark.\u00a0 “Unfortunately, we got a significant dump, and in rejection, from $49,000,” he stated. The analyst highlighted that BTC was up for several days before the ETF approval, with experts anticipating the crypto would hit $50,000. Thus, in a surprising turn of events, the asset’s price witnessed a drop of about 16%. In spite of the Bitcoin spot ETF approval, the market’s perception swiftly took an unpleasant shift. The correction took retail investors by surprise as they were unprepared since they had assumed that the price would rise. With the crypto asset experiencing such a collapse in price, it is believed that the market will see a massive liquidation. Remarkably, during this decline, liquidations were not as large as anticipated. Bitcoinhyper noted that during the decline, around $18.8 million in short positions were liquidated, which is less than expected. The news caused traders to become overconfident while ignoring the possibility of a correction. No Positive Impact On BTC Price Despite Substantial Inflow Reportedly, Bitcoin saw a whopping $1.18 billion inflow in digital assets funds worldwide following ETF approval. Despite the significant inflow of capital, the anticipated impact of boosting the price of BTC has not yet been realized. Related Reading: How Spot Bitcoin ETFs Could Catapult BTC Price To $500,000, According To This Crypto Trader On Monday, January 15, the price of BTC dropped below the support level of $42,000 as traders turned to Ethereum and other tokens. The approval of ETFs might be a “sell the news” moment, as BTC had dropped by 16% since the announcement. As of now, it is crucial to observe that the market is becoming less enthusiastic about Bitcoin ETFs. A lot of people are now discussing the potential for an Ethereum ETF. Currently, Bitcoin is trading at $42,951, indicating a decline of over 7% in the past seven days. Its trading volume is up by 3.86% in the last 24 hours, while its market cap is up by 0.75%, according to CoinMarketCap. Featured image from iStock, chart from Tradingview.com<\/p>\n","protected":false},"author":608,"featured_media":561209,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,91154,91192,1119,1144,78790,10995,8379,3799,12413],"class_list":["post-569770","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-spot-exchange-traded-funds","tag-bitcoinhyper","tag-btc","tag-btcusd","tag-btcusdt","tag-coinmarketcap","tag-etfs","tag-sec","tag-youtube"],"acf":[],"yoast_head":"\nBitcoin Bearish Forecast: Analyst Signals Continued Downfall<\/title>\n<meta name=\"description\" content=\"The price of Bitcoin appears to be experiencing a bearish moment in the past few days now despite the approval of multiple Bitcoin Spot ETFs.\" \/>\n<meta name=\"robots\" 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Trust me, I\u2019ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that\u2019s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets. My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies. Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people - people who make an impact in my life no matter how little it is. One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others. I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams. I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I\u2019m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top. I aspire to be a boss someday, having people work under me just as I\u2019ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.","sameAs":["https:\/\/x.com\/NFTwerey"],"url":"https:\/\/wncen.com\/author\/godspowerowie\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Bearish Forecast: Analyst Signals Continued Downfall","url":"http:\/\/wncen.com\/news\/bitcoin-bearish-forecast-analyst-signals-continued-downfall\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-bearish-forecast-analyst-signals-continued-downfall\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/iStock-1252711675.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/iStock-1252711675.jpg?fit=1426%2C736"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Godspower Owie"}],"creator":["Godspower Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin spot exchange-traded funds","bitcoinhyper","btc","btcusd","btcusdt","coinmarketcap","etfs","sec","youtube"],"dateCreated":"2024-01-16T11:30:14Z","datePublished":"2024-01-16T11:30:14Z","dateModified":"2024-06-11T10:43:57Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Bearish Forecast: Analyst Signals Continued Downfall\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-bearish-forecast-analyst-signals-continued-downfall\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-bearish-forecast-analyst-signals-continued-downfall\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/iStock-1252711675.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/iStock-1252711675.jpg?fit=1426%2C736\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Godspower Owie\"}],\"creator\":[\"Godspower Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin spot exchange-traded funds\",\"bitcoinhyper\",\"btc\",\"btcusd\",\"btcusdt\",\"coinmarketcap\",\"etfs\",\"sec\",\"youtube\"],\"dateCreated\":\"2024-01-16T11:30:14Z\",\"datePublished\":\"2024-01-16T11:30:14Z\",\"dateModified\":\"2024-06-11T10:43:57Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/iStock-1252711675.jpg?fit=1426%2C736","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/569770"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/608"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=569770"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/569770\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/561209"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=569770"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=569770"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=569770"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}