Bitcoin Price Forecast: Besides ETF Outflow Woes, These Factors Could Shove BTC To $55,000

Quick Summary:

A 4% decrease to $60,142 based on CoinMarketCap data characterizes the grim crypto landscape on Wednesday while a remarkable 18% surge in the trading volume could imply growing interest among traders as BTC dips.

Bitcoin price forecast: The largest cryptocurrency is on the cusp of extending June’s correction below $60,000 this week.

This comes a couple of months after the highly publicized Bitcoin halving, which reduced miner rewards from 6.25 to 3.125 BTC.

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Article Details

Author / Journalist: John Isige

Category: Crypto

Markets: IndiaAustralia

Topics: Pressure Market Crypto Capitulation John Outflows Price Miner Bitcoin Correction Landscape

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-03 @ 13:54:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 572 words

Reading Time: 4 minutes read

Sentences: 52 lines

Sentence Length: 11 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 21471838

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About CoinGape

Main Topics: Crypto

Official Website: coingape.com

Update Frequency: 40 posts per day

Year Established: 2017

Headquarters: India

News Last Updated: 9 hours ago

Coverage Areas: India

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