Bitcoin fell to its lowest weekly close since the second half of 2024 last week, capping a stretch that has now stripped more than 8% of its value in seven days and pulled the broader crypto market to levels not seen since early in the year. Related Reading: Security Milestone: XRP Lending Protocol Completes Military-Grade Assessment A Pattern Worth Watching The weekly relative strength index is holding higher lows even as price prints lower ones — a divergence that last appeared in the lead-up to Bitcoin's recovery from the 2022 bear market bottom.
Bitcoin could face additional downside pressure as investors prepare for what is expected to become the largest public offering in history. Market analysts believe the highly anticipated SpaceX IPO may divert capital away from cryptocurrencies and into the rapidly growing artificial intelligence and technology sectors.
The U.S. spot Bitcoin ETF market is increasingly becoming a two-horse race, with BlackRock and Fidelity dominating investor flows while smaller competitors struggle to maintain relevance. When spot Bitcoin exchange-traded funds launched in January 2024, investors had more than a dozen options from issuers including BlackRock, Fidelity, Ark Invest, Bitwise, VanEck, and Franklin Templeton.
Onchain records show yet another Casascius physical bitcoin has been redeemed, this time from an address originally created on Nov. 1, 2011. The plot thickens, however, because the spend traces back to another dormant wallet tied to the sprawling New York Supreme Court case Noah Doe v.
BlackRock and Fidelity capture most U.S. spot Bitcoin ETF inflows as smaller issuers struggle to impact overall market direction.
Bitcoin remained under pressure near $61,750 as analysts warned that the upcoming SpaceX IPO could divert capital away from the crypto market at a time when ETF outflows and weak sentiment are already weighing on the market.
As Bitcoin (BTC) hovers near its lowest levels since late 2024, a market observer suggests the flagship crypto may not have finished bottoming yet, with more downside potentially ahead. Related Reading: XRP Sees Intense Capitulation As Realized Profit-To-Loss Ratio Plunges BTC's Historical Data Points To Longer Correction On Wednesday, analyst Rekt Capital compared Bitcoin's current price action to its performance in previous cycles to determine how close the leading crypto's market bottom may be.
CryptoQuant says Bitcoin may bottom near $53,600 as demand weakens and ETF flows turn negative, delaying recovery signals.
Botanix said its technology worked, but users still preferred wrapped Bitcoin and larger ecosystems over dedicated Bitcoin-native infrastructure.
Across prediction markets, on-chain dashboards, and sentiment trackers, a clear majority of Bitcoin investors have positioned themselves for further downside. Although Bitcoin has since recovered above $60,000, the recent crash below the level over the weekend has led many crypto traders to believe that there's going to be another crash to the final bottom.
Bitcoin is testing a key demand zone after breaking down from a symmetrical triangle, putting the market at a critical turning point. While buyers may attempt to defend this support and trigger a rebound, a failure to hold could open the door to further downside in the near term.
Fold's $45M Bitcoin sale clears debt and funds growth, impacting market sentiment.