CryptocurrencyBitcoin Follows US Stock Dive, Experts Predict $37,500 Price...

Bitcoin Follows US Stock Dive, Experts Predict $37,500 Price Level

As Wall Street opened today, resuming April 21 market losses, Bitcoin faced selling pressure. 

Bitcoin prices fell following the stock market plunge. As a result, many experts predict that the Bitcoin price will take a hit and can dive to $37,500 per coin.

Related Reading | Is Bitcoin Gonna See Another Big Drop Soon? Historical Trend May Say Yes

According to TradingView data, on April 22, the price of Bitcoin hit $39,197.

Bitcoin Price
Bitcoin trading below the significant support level of $40,000 | Source: BTC/USD chart from

The crypto market significantly increased yesterday, with Bitcoin reaching above $42,700. Unfortunately, the day had cost bulls $40,000 support, which had not yet become meaningful at the time of writing.

The Material Indicators team observed that the bids were filling at lower prices for analytics resources’ order books.

According to a chart, there were about $100 million in bids waiting on Binance between spot and $37,500.

In a tweet, Material Indicators said’

#FireCharts is showing ~$100M in #bitcoin bid liquidity between here and the $37.5k range. Expecting it to get filled, but watching to see if #BTCUSDT liquidity moves to the active buy zone or the buy zone moves to the orders resting on the @binance order book.

Stock Market Today

The U.S. stock market continued to go down today. The S&P 500 was down 1.75%, and the Nasdaq 100 was down 1.43% in the first 90 minutes of trading. 

The bond market sell-off worsened and reached “historic proportions”  in Europe. In a tweet, markets commentator Holger Zschaepitz said;

The European corporate bond market’s ongoing selloff has reached historic proportions, w/high-grade bonds losing a record 8.6% in total return terms since their Aug peak. This is now worse downturn than lows reached during early coronavirus turmoil & the GFC, BBG has calculated.

Bitcoin Price Predictions

Many traders were waiting before making any decisions about Bitcoin. As a result, the BTC/USD exchange rate was now in a critical area.

Related Reading | Time Vs Price: Why This Bitcoin Correction Was The Most Painful Yet

Michaël van de Poppe, CEO & Founder Eight Golbal, said;

The level has hit. Let’s see how the market will respond from this area on #Bitcoin

Cheds, a crypto funding analyst, looked at the price performance over the past few weeks and took a more ominous line.

Bitcoin may now be in more trouble than people thought because it failed to stay above its range earlier this month, he warned on April 22.

In his tweet today, Cheds said;

$BTC my belief is most market participants are underestimating the impact of this failed breakout.

Bitcoin has been experiencing a lot of pessimistic predictions about its price in the mid-term. One example is former BitMEX CEO Arthur Hayes, who believes that the price will reach $30,000 by June.


                    Featured image from Pixabay, chart from

Original Source Link

Latest News

Microsoft, Khan Academy launch free AI assistant for all U.S. teachers

Microsoft is partnering with tutoring organization Khan Academy to provide a generative AI assistant to all teachers in...

Crypto insiders anxious and divided as spot Ether ETF decision date looms

Currently, betting markets indicate a 61% chance of U.S. spot Ether ETF approval, up from less than 11%...

Biden donors split over US response to Israel-Hamas war

This is an onsite version of the US Election Countdown newsletter. You can read the previous edition here. Sign...

A French AI startup, simply called H and founded by ex-Google DeepMind scientists, raised $220M from Accel and others, and plans a model capable...

Mark Bergen / Bloomberg: A French AI startup, simply called H and founded by ex-Google DeepMind scientists, raised...

Jon Stewart, “Trump Is The Real Cancel Culture.”

Jon Stewart called out the right’s fake cancel culture and pointed out that the one real source of...

Must Read

LGBTQ+ Pioneer and Brother Forge Gaming and Entertainment Empire – Hollywood Life

In the sprawling expanse of Southern Illinois, nestled...

Price rises need to ease further before UK rates can be cut, says MPC member

Stay informed with free updatesSimply sign up to...
- Advertisement -

You might also likeRELATED
Recommended to you