CandleFocus Bitcoin Price Analysis: BTC Falls Below $61,000, Here’s the Next Target
2024-10-10
Author: Content Editor
The article highlights that Bitcoin's rejection at $66K and the break below the 200-day moving average indicate that bearish sentiment is gaining strength. If the price fails to hold the $60K support, there is a likelihood of a mid-term decline towards the $52K-$55K zone. The presence of substantial selling pressure near the $66K resistance level suggests that it remains a formidable barrier. The Bitcoin Coinbase Premium Index shows negative values, indicating a bearish sentiment in the market. While the market is still within a descending trend channel, both accumulation and selling pressure seem to be tapering off, suggesting a period of market indecision. Short-term trading during this time is deemed risky due to the lack of a clear trend.
Related News
BONK Price at Risk of 20% Decline: Here’s What’s Behind It 10th-Largest US Bank Paying $3,000,000,000 Fine in Historic Admission of Guilt After Criminals ‘Dump Piles of Cash’ on Banks’ Counters Top Real World Assets Tokens to Invest in October: Key Players to Watch Bitcoin Set for Explosive Bull Run After Potential Dip Below $50,000, Analyst Suggests Bitcoin Price Falls Under $60,000 as $150 Million in Crypto Longs Get Rekt Politics and memecoins drive the conversation on day 2 of Permissionless Bitcoin (BTC) Price Crashes – What’s Should We Expect? Another Country May Declare Bitcoin as an Official Currency – Presidential Candidate Makes a Statement Top Meme Coins To Add to Your Portfolio Today: Key Players Like SHIBA INU and PEPE on the Rise BREAKING: After BlackRock, Giant Investment Company Fidelity Takes the Expected Cryptocurrency Step Artificial Intelligence is being used to manipulate elections, OpenAI raises alarm Nearly 50% of Traditional Hedge Funds Now Exposed to Crypto Assets Amid Growing Regulatory Clarity: Report SuperRare Tops NFT Market with $1.92M in Daily Volume PEPE Targets $0.000010 as Meme Coins Gain Fresh Interest FBI Made a Profit From Ethereum Token Created to Catch Fraudsters Dev Balina Bugün Panik Yaptı – Kripto Parasını Zararına Sattı, Toplam 26 Milyon Dolar Zararı Var Executive Managing $226 Million Reveals “Scenario That Will Skyrocket Bitcoin Price” Dogecoin (DOGE) Price Must Climb Above This Level to Avoid Correction US election outcome won’t stop Bitcoin from hitting $100K: Dan Tapiero Latest inflation data comes in hotter than expected, led by housing costs Company Under Investigation by the US Department of Justice Revealed to Have Links to 5 Altcoins Whale Accumulation Could Spark Chainlink (LINK) Price Recovery Four Reasons Ether ETFs Have Underperformed Telegram wallet app enables law enforcement evidence collection ? Bitcoin drops below $59K as Fed might pause rate cuts in November Bitmain Rolls out New High-Efficiency Bitcoin Mining Machines, Topping 319 TH/s Ethereum (ETH) Stalls at $2400 as Buyers Show Signs of Hesitation Bitcoin retraces to $59K amid altcoins stagnant with ‘regulatory hurdles’ Bitcoin Shatters All-Time Hashrate Record at 698 EH/s as Miners Defy Market Challenges Tensor Marketplace Offers Unique Investor Tools Bitcoin is Trading -16.89% Below Our Price Prediction for Oct 15, 2024 NFT Trading Volumes Remain Flat Since July: A Market Pause or New Stability? Over 63,000 BTC were sent to exchanges in last 72 hours — CryptoQuant Analysts Discuss Bitcoin After Recent Drop Chromia Introduces Filehub for Secure and Scalable Data Storage Tezos staker Josh Jarrett sues IRS again to over token rewards tax policy Cardano Holders Pass Vote of No Confidence on ADA, Price Eyes $0.30 Bitcoin Tumbles Below $59K Amid Inflation Worry, Regulatory Onslaught on Crypto Is Still $200 on the Horizon for Solana Price This Month? US Agriculture Dept approves blockchain-based certification system SEC charges Cumberland DRW with acting as 'unregistered dealer' in crypto transactions Mango Labs sues DAO members for alleged embezzlement scheme DWF LABS INTRODUCES FALCON FINANCE, A HIGH-YIELD SYNTHETIC STABLECOIN Bitcoin slips lower alongside stocks after higher-than-expected CPI inflation print CPI data to drive 'favorable impact' on Bitcoin prices — 21Shares Pepe Coin Price Prediction: Is an ATH Possible in October? First Neiro on Ethereum (NEIRO) Leads Market Gains, Touches All-Time High Trump's lead over Harris on Polymarket soars to 13% as mystery trader pumps the former president's chances to win election Georgia opposition debuts civil blockchain project ahead of critical elections SingularityNET and World Mobile Token: integration of WMTx The battle for the true Moo Deng Australia, Canada and Colombia were right to pause CBDC plans No auto-update in Bitcoin Core means 13% of nodes could crash $9 trillion Charles Schwab survey finds 45% of respondents plan to invest in crypto ETFs SEC Charges Firm for "AI Washing" in Investment Scheme BREAKING: Coinbase Futures Announces New Altcoin Listing UAE DeFi Transactions Surge 74%: A Young Nation Embraces Decentralization Worldcoin Global Expansion Continues with Dominican Republic Launch MetaWealth Teams Up with Superteam UK to Launch London's First Tokenised Co-Working Hub Bitcoin Volatility in Japan Hits 2-Year High Amid Yen Instability, Trading Volumes Plummet by 50% Galaxy Digital gets Buy rating, C$24 price target from analyst Uniswap introduces Unichain, sparking a 12% surge in UNI token Ripple Plans 'Cross-Appeal' in SEC Case Explosive Growth: NEAR Protocol Caters To 3 Million Daily Users ZK rollup Scroll integrates Chainlink’s CCIP for cross-chain token transfers and interoperability 'Bitcoin to the Rescue': MicroStrategy's Saylor Battles Market Fire With Epic Post German MP Joana Cotar Champions Bitcoin as a National Asset for Economic Freedom Why Shiba Inu Coin and Dogecoin Price Falling Today? XRP Price Eyes $0.60 Comeback as Whale Accumulation Grows EigenLayer (EIGEN) Volume Drops 40%, Whales Step In to Defend $3 Level OKX Goes Live in UAE, Targeting TradFi Institutions, Retail Market Tron founder Justin Sun elected as prime minister of crypto-focused micro nation Liberland Shiba Inu Struggles Above $0.00001700 And Risks Decline Exciting Share from Binance Founder CZ! Is He Coming Back? STON.fi Launches Omniston: A New Liquidity Aggregation Protocol for TON Ecosystem The Memecoin Supercycle Thesis Is Bitcoin Aligned XRP Price If Crypto Markets Suffer Another $1 Billion Liquidation Event Before Bull Run? Bybit Seeks Crypto License in Austria Following Kazakhstan Approval SEC admits their crypto approach has been ‘a disaster for the whole industry’ Bitcoin-backed stablecoin developer Yala raises $8 million in seed funding Bitcoin digests US 'nightmare' CPI, jobs data as $60K hangs in balance Heather 'Razzlekhan' Morgan Should Spend 18 Months in Prison, Prosecutors Tell Court Crypto gaming developer PiP World raises $10 million in seed round months after buying Roblox stock simulator Bitcoin price must leave $60K range 'to re-awaken supply' — Market analyst Crypto Trader Michaël van de Poppe Says Crypto in First Stage of Bull Market – Here’s His Outlook Dip in trading at Binance and other major crypto exchanges confounds experts Ethena Picks BlackRock's BUIDL, Mountain, Superstate and Sky's USDS for $46M Tokenized RWA Investment 'Cardano Isn't Dying, It's Thriving and Growing': Charles Hoskinson The SEC has been wrong about ‘crypto asset securities’ all along Optimism token price is at risk of a bearish breakdown Shiba Inu (SHIB) Eyes Epic 100% Increase in $70 Million Bullish Whale Activity The Bifrost Bridge is XRP Direct Teleportation to Valhalla: Analysis Colombian Bank Littio and OpenTrade Launch USD Accounts on Avalanche SingularityNET Enhances FET Token Utility with Staking Feature FBI's token sting operation faces copyright controversy over MIT license misuse Tap-to-Earn Gaming Expands From Telegram to TikTok via Solana's Sonic SVM 24% of French Investors Go Independent, Embrace ETFs as Top Choice Is Uniswap the best-performing DEX exchange? Bitcoin Staking: Solv Protocol Leads With $470M TVL Universal Privacy Alliance names Amelia Andersdotter as interim director Chiliz (CHZ) Price Shoots 13% After Binance Airdrop Support Here’s how much you’d have if you bought $1,000 of Bitcoin when JPMorgan called BTC 'worthless' Toncoin (TON) Large Holder Activity Skyrockets 93%, What's Up? Bitcoin (BTC) Korea Premium Might be Mitigated Soon, Here's Why Moonveil announces a new node sale and reveals a $2 million investment from Polygon Labs FET Holders Reactivate Dormant Tokens as Price Nears Two-Month Low dYdX’s Juliano returns as CEO just six months after stepping down Optimism’s 10 Million OP Airdrop Might Trigger a 64% Rally in Price Dogecoin Holds Above $0.10 Amid Strong Buying Demand 21Shares Expands European Offering with Future of Crypto ETP Dutch police reveal darkweb probe behind $8.7M crypto seizure Ethereum Price Analysis: Bears Eye $2K as ETH Loses Positive Momentum Crypto Rover Predicts Bitcoin Rally to $120K: Chart Analysis Will Ethereum Price Hit $10K if Vitalik Wins Nobel Prize? QCP Capital Says Fed Meeting Minutes Released Were Less Dovish Than Expected! Here Are the Details Bitcoin Price Analysis: BTC Falls Below $61,000, Here’s the Next Target Hamster Kombat meltdown continues, token hits record low Solana (SOL) Sees Epic 24% Surge in Crucial Indicator: Details 79 Days After Launching: Here’s The Massive Difference Between Bitcoin ETFs and Ethereum ETFs Here's Why People Want to Buy Ethereum (ETH): Top Bitcoin Evangelist Chiliz (CHZ) Heads for Post-Retest Jump to $0.091 After Dropping to $0.067 XRP Whales Move 73M Coins As Speculation Over Cross-Appeal By Ripple Grows Cardano’s Stablecoin Integration: What’s the Holdup? Ripple Compliance with ISO 20022 Could Drive XRP Integration Into Traditional Financial Systems Trump’s DeFi Project World Liberty Proposes Partnership with Aave Ronin Network adopts Chainlink CCIP to strengthen cross-chain security Assassin’s Creed developer Ubisoft launches first crypto video game 'Champions Tactics' Satoshi Ally Adam Back Reveals What He Needs From Bitcoin Price Uniswap Developer Unveils Own Layer-2 Network, Unichain, Built on Optimism Tech Aethir launches $100M fund to accelerate AI, gaming innovation PancakeSwap V2 at the top of dApps on BNB Chain for weekly volume Crypto Whale Gains $1.25M with $SPX Investment in 3 Days BREAKING! US Inflation Data Released! What Was Bitcoin's (BTC) First Reaction? Is Tether’s USDT stablecoin ‘noncompliant’ with EU’s MiCA regulations? Fetch.ai opens new lab in London, focusing on AI, machine learning, and autonomous systems Put developers at the center of web3 | Opinion SUI Price’s Fate Uncertain as Outflows Dominate Altcoin Market strategist 'perplexed' Bitcoin not trading at ATH, sets when BTC party will begin Solana Price Rally: These Investors Could Spark a 33% Surge 6.2 Billion Dogecoin in 24 Hours Sets DOGE on New Path CryptoQuant CEO: ‘Trump is the right choice’ if you care about crypto Cardano at Risk of Plummeting to $0.22 After Falling Below Key Support Levels: Analysis BitMEX rolls out customizable bots for predefined trading strategies Dogecoin (DOGE) 70% Surge Incoming? Important On-Chain Data Trump-linked World Liberty Financial to raise $300 million at $1.5 billion valuation: Roadmap WazirX selects 10 creditors for the CoC but there is a catch Prices and news of the crypto FET, ONDO, BLUR Bitcoin Whale Goes Bearish With $424 Million in BTC Analyst Jamie Coutts Says One Bitcoin Metric in Bullish Reversal, Predicts BTC Will Hit Over $140,000 This Cycle Crypto markets dip as inflation data looms, Bitcoin holds firm above $60,500 Crypto Prices Today Oct 10: BTC Slips Below $61K, Altcoins Tumble on PlusToken Related Selloff 5 Explosive Crypto Coins to Turn $100 Into $100K During this October Boom Altcoin Watch: SUI, SEI, SOL, APT, FET and the Upcoming Bull Run Shiba Inu (SHIB) Close to Seven-Day High in 4.1 Trillion Surge China is Next for Ethereum! Analyst Says $1.3 Billion Selling Pressure Is Starting in ETH! Bitcoin Dips to $60,000 Range, Analyst Expects BTC to Bounce Back After a Dip to $57,500 Price Target Binance Announced That It Will Now List the Altcoin, Which It Previously Listed in Spot Trading, in Margin Trading! Bitcoin options show post-US election bullish bets and heightened volatility, analysts say Dubai virtual asset regulator issues cease and desist orders for 7 VASP entities Toncoin (TON) Faces Bearish Push Toward $4.42 as Sellers Dominate Crypto Asset Management Firm SwissOne Capital Explains Possible Impact of FED's Interest Rate Cut on Bitcoin Dominance! Analyst Identifies Potential Targets for Solana as It Approaches Major Breakout Did this Senator profit from mining stock buy before major acquisition? Threshold Network proposes bold plan to further decentralize WBTC Bitcoin, Ether Nurse Losses as Dollar Strengthens Ahead of U.S. Inflation Report Ripple rolls out crypto storage services for financial institutions Liquid restaking and rollup platform Puffer introduces token along with community airdrop Bitget tightens token listing standards amid scam concerns US Authorities Charge Gotbit and Other Crypto Firms in Market Manipulation Probe This Massive Bitcoin (BTC) Surge Makes Zero Sense Helium Mobile Joins Forces with Ameriband to Expand the Network Shiba Inu's Shibarium Finally Waking up in DeFi Here is Why Bitcoin Fell to $60,300 Today And Volume Dropped by 17% Multiple Cities Explore Santa Monica’s Bitcoin Office Model as Public Interest Surges Market makers sent $100M in stablecoins to exchanges Big Reason for "Breaking Bad Satoshi”'s Disappearance Voiced by Samson Mow Here are Prominent Signs Financial Market is Preparing for XRP ETFs XRP on Verge of 25% Rally: Big XRP News Imminent? XRP and Solana Among Cryptos Hit Hard by Negative Sentiment, Chance of Recovery? Traditional Hedge Funds Expand Crypto Exposure Amid Regulatory Clarity and Spot ETF Launches: AIMA Report Mantra (OM) Price Faces Resistance After Recent Rally Render Token (RNDR) Struggles to Keep Pace with Rival AI Coins Crypto-Backed PACs Fuel Record Spending in Ohio Senate Race Toncoin’s Price Pullback: A Buying Opportunity or Further Decline? GOTBIT’s Market Manipulation Charges Cast Shadow Over Crypto Markets Top 3 Altcoins to Sell in Uptober Ex-SEC Official Predicts 3 Trends To Watch In Cryptocom Lawsuit Will Cardano Price Crash If China Sells PlusToken’s $1.3B ETH? Bitcoin Price Slumped Toward $60K, Aptos Tanks 9% Daily (Market Watch) Texas Drug Ring Sentenced for Laundering $50K Monthly in Cryptocurrency Financial Analyst Reveals How XRP Could Skyrocket to $60 Overnight Using SWIFT Model Tron (TRX) Holds Green as Markets Fall: Can It Keep Going? XRP to $20 as Analysts Say They’ve Never Seen a Bull Flag This Long Dragonfly-backed Agora to use Wormhole for AUSD cross-chain expansion FTX investors end lawsuit targeting Sullivan & Cromwell Crypto market looks bearish ahead of CPI report, BTC at $60k Bitcoin 'capitulation incoming' as liquidity risks sub-$50K BTC price XRP Price Slows Down: Will Bears Take Over or Bulls Fight Back? Ripple Starts Burning RLUSD Hard – 2 Million Stablecoins Scorched in One Go Meme Coins POPCAT, WIF Among Worst Performers in Top 100 Bitcoin Price Extends Decline: Can $60K Serve as a Lifeline? Bitcoin miner IREN overstated its compute ability and prospects, says lawsuit Bitcoin ETFs See $204.7M Inflows While Ethereum ETFs Record $9.69M Outflows Macro Guru Hugh Hendry Betting on Bitcoin (BTC) and Lower Interest Rates for 2025 – Here’s Why Ethereum Price Retests $2,350: Is a Bounce In The Cards? Crypto Analyst Says Bitcoin in a Potential Big Move Upwards, Updates Outlook on Sui, Aptos and Eigenlayer Analysis Firm Warns, Reveals 20 Cryptocurrencies with the Lowest Sentiment South Korean Finance Regulators to Investigate Upbit’s Monopoly: Report LEO Price Soars As Bitfinex Could Soon Reclaim BTC From 2016 Hack Are NFTs making a comeback or just riding the hype? Here’s what the numbers say Solana Overtakes Ethereum in Staking Ratio, with 68% of Supply Locked Will AVAX Price Jump As Littio Bank Chooses Avalanche Over ETH? Crypto-swiping malware infects 28K users, steals just $6K: Report Crypto-Powered Brave Browser Surpasses 30 Million Daily Users, Continues Steady Growth Uptrend in Bitcoin's Dominance Rate Threatened by Fed Rate Cut Cycle, Crypto Asset Manager Says Overturned Chevron deference likely won’t impact crypto regulation: Tom Emmer Optimism rolls out fifth airdrop, allocates 10.3 million OP tokens to 54,000 Superchain users Retail investors increasingly buying crypto despite volatility: IOSCO Thai SEC Proposes New Rules for Crypto Investment in Mutual and Private Funds Polkadot’s Rivals: 5 Blockchain Networks Challenging the Status Quo Axe throws and crypto wizards: Permissionless III is underway Ronin co-founder slams 'inductive fallacy' in memecoin vs. altcoin revenue debate Bitcoin Falls to $60.5K as Coinbase Premium Gap Points to Sell Pressure ZachXBT Predictions True: US charges GOTBIT, ZMQUANT, CLS GLOBAL, MY TRADE, Memecoins Surge in 2024: Can These Tokens Reach a $1 Trillion Market Cap? Coin and VeChain Price Analysis: A Second Bull Run in 2024? LEO Price Soars As Bitfinex Could Soon Reclaim BTC From 2016 Hack Top Trader Murad’s SPX Triumph: $23.6M Profit in 4 Months with 61x Return Retail investors increasingly buying crypto despite volatility: IOSCO Thai SEC Proposes New Rules for Crypto Investment in Mutual and Private Funds Newest Crypto Coins to Invest in 2024: Cosmos (ATOM) Enhances Cross-Chain Interoperability Toncoin Price Eyes $6 Comeback as Stablecoin Supply on TON Surges 13x $16 million worth of ether from PlusToken ponzi moves to exchanges, analyst expects full $1.3 billion sale to follow Peter Schiff Tells Michael Saylor to Take $4.3B Loan to Buy U.S. Government Bitcoin Will Dogecoin Price Surpass $0.15 By October End? Ripple (XRP) Ledger Pushes Code Review to Enable RLUSD Integration With AMMs Shiba Inu (SHIB) New Key Pattern Just Dropped, Anemic XRP Performance Might End Here, Dogecoin (DOGE) Price Reversal Imminent? Ripple News: Could an XRP ETF Become Reality in the U.S.? Legal Hurdles and Expert Opinions Stripe is back in the crypto game, starts accepting USDC Monetizing opportunities for Telegram’s TON-powered mini-apps FBI creates fake token to catch 18 people and companies involved in crypto fraud Real World Asset Protocol Shares Double In DeFi TVL, Can This Momentum Hold? Bitcoin Dips Below $61K, Ether Slips 3% as Some PlusToken China Ponzi-Related Coins Moved to Exchanges Cryptocurrency Market Sees Notable Gains as STFX propells AltLayer and Succinct Labs Introduce OP Succinct to Boost Rollup Development Federal Reserve officials were unsure of decision to cut rates in September ? BREAKING: Chinese Government Allegedly Starts Selling Ethereum Holdings Analysts Give “Correction Warning” For Altcoin, Which Soared 1200 Percent In The Last One Month SEC, FBI, DOJ coordinate takedown of 4 fraudulent crypto firms The Daily: HBO doc suggests Peter Todd is Satoshi Nakamoto, VanEck enters the crypto VC space and more Trump-connected World Liberty Financial formally proposes launching on Aave's Ethereum mainnet instance Blockchain fixes misuse of biometric data — Privado ID founder