{"id":19303,"date":"2024-05-02T10:15:17","date_gmt":"2024-05-02T10:15:17","guid":{"rendered":"https:\/\/coinengineer.io\/?p=19303"},"modified":"2024-05-02T06:59:27","modified_gmt":"2024-05-02T06:59:27","slug":"bitcoin-hits-57k-analyst-predicts-will-the-decline-deepen-further","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bitcoin-hits-57k-analyst-predicts-will-the-decline-deepen-further\/","title":{"rendered":"Bitcoin Hits $57K: Analyst Predicts “Will The Decline Deepen Further?”!"},"content":{"rendered":"

Bitcoin fell to $57K today due to low spot ETF volumes that started in Hong Kong and decreasing demand for spot Bitcoin ETFs from the US. Bitcoin is trading 20% below its all-time high (ATH) of $73K seen in March.<\/p>\n

With yesterday’s decline, Bitcoin<\/a><\/strong> and cryptocurrencies experienced their worst monthly decline since November 2022, when one of the largest crypto exchanges of the time, FTX, collapsed.<\/p>\n

According to CoinDesk, John Glover, an analyst at crypto lending firm Ledn, said he expects Bitcoin to sell off to the $50K levels in the medium term. The analyst also said that this decline could be a buying opportunity.<\/p>\n

Currently trading at the $57K levels, Bitcoin’s arrival at the $50K levels means the decline is deepening further. If Bitcoin falls to $50K, it will have experienced another 15% pullback.<\/p>\n

According to CoinGecko data, Bitcoin is trading at $57,720 as of writing.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin fell to $57K today due to low spot ETF volumes that started in Hong Kong and decreasing demand for spot Bitcoin ETFs from the US. Bitcoin is trading 20% below its all-time high (ATH) of $73K seen in March. With yesterday’s decline, Bitcoin and cryptocurrencies experienced their worst monthly decline since November 2022, when<\/p>\n","protected":false},"author":1,"featured_media":16191,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[61,534,833,336],"class_list":["post-19303","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-etf","tag-coingecko","tag-cryptocurrencies"],"yoast_head":"\nBitcoin Hits $57K: Analyst Predicts "Will The Decline Deepen Further?"! - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Bitcoin fell to $57K today due to low spot ETF volumes that started in Hong Kong and decreasing demand for spot Bitcoin ETFs from the US.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/bitcoin-hits-57k-analyst-predicts-will-the-decline-deepen-further\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Hits $57K: Analyst Predicts "Will The Decline Deepen Further?"! 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