• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
Bitcoin

Bitcoin Loses $28,000 Handle – Is A Retreat In The Offing For BTC?

Christian Encila by Christian Encila
2 months ago
in Cryptocurrency Market News
Reading Time: 3 mins read

Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, was dealt a blow earlier today as it slipped below the $28,000 handle. The decline has sparked concerns among investors and analysts that the digital asset may be headed for a correction, leaving them to wonder whether it’s time to sell or hold on to their investments. 

At the time of writing, Bitcoin’s price is $27,560, according to CoinGecko. The cryptocurrency has lost 2.5% of its value in the last 24 hours and has been on a 14-day decline of 1.5%. Despite this, Bitcoin has enjoyed a remarkable 30-day rally of 24.1%.

In this article, we’ll explore the factors that may be driving the retreat and assess where Bitcoin is likely to go from here.

Bitcoin Crosses $28,000 Mark, But Backtracks

Bitcoin had crossed the $28,000 mark earlier in the day, but the excitement was short-lived as the cryptocurrency retreated. The retreat may be attributed to a combination of factors, including profit-taking by investors who had bought Bitcoin at lower levels and a general sentiment of uncertainty among traders.

Related Reading: This Little-Known Crypto Is Shooting Up Nearly 90% – Here’s Why

Reasons For The Retreat

Bitcoin’s retreat may be attributed to several factors. For one, the cryptocurrency has been on an upward trend for the past few months, and a correction was overdue. Regulatory pressures on cryptocurrency trading and the U.S. banking crisis may also be causing jitters among investors. Lastly, Bitcoin liquidity remains low, despite its eye-catching upsurge this year.

Conor Ryder at Kaiko has revealed that the liquidity of Bitcoin remains low, a clear indication that the cryptocurrency market is experiencing a downturn in trading activity. This lack of liquidity has resulted in slippage, which is the disparity between the intended transaction price and the actual price at which it’s executed, and it’s become increasingly problematic for investors. 

As slippage rises, investors face the possibility of sudden, dramatic fluctuations in the market, creating additional risks that could further destabilize the cryptocurrency economy.

BTC market cap currently at $539 billion on the daily chart at TradingView.com
Related Reading: XLM: How It Plans To Navigate Bearish Market Sentiment

What’s Ahead For Bitcoin?

Despite the retreat, many analysts remain bullish on Bitcoin’s long-term prospects. The cryptocurrency has come a long way from its humble beginnings and has gained widespread acceptance as a legitimate investment asset. Many investors believe that Bitcoin’s value will continue to rise in the coming years, driven by increasing adoption and limited supply.

However, in the short term, Bitcoin’s price may remain volatile, with occasional corrections and dips. Investors are advised to keep an eye on Bitcoin’s price movements and to invest wisely, keeping in mind the risks and rewards of this digital asset.

-Image Source/Corbis

Tags: bitcoinbtccrypto
Tweet123Share196ShareSend
Christian Encila

Christian Encila

Christian is a former journalist and editor, as well as a layout design consultant, who previously held leadership positions at Sun.Star News Philippines and Ang Peryodiko News, a local daily in Manitoba, Canada. Alongside his passion for writing, he is an avid fan of cryptocurrency and works tirelessly throughout the week. When he's not on his computer, you can find him tinkering with his old motorbike as a grease monkey, or lounging on the patio hammock while pondering about artificial intelligence and whether he'll ever understand his cat's thoughts and calmness.

Related Posts

Dogecoin

Dogecoin Bounces Off $0.070 Mark, Awaits Breakthrough of Crucial Hurdle

20 mins ago
Floki Inu

Floki Inu: Does Meme Coin Have What It Takes To Re-Enter Top 100 Spot?

2 hours ago
BTC bet – Top BTC casinos

BTC bet – Top BTC casinos

2 hours ago
Bitcoin Core

Bitcoin Core 25.0 Hits The Market: A Sneak Peek Into The Future

5 hours ago
Ethereum

Ethereum Correction: Key Level Break Can Shift Price Course

6 hours ago
Ethereum (ETH) Block Size Surges

Ethereum’s Block Size Surges To 1-Month High – What This Means For ETH

7 hours ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

  • TMS Network (TMSN) Exceeds Popular Meme Coin Rivals Shiba...

    1 hour ago
  • Traders Union published the list of Best Forex Brokers in...

    4 hours ago
  • Coinbase battles with SEC users are moving to Tradecurve

    6 hours ago
  • Cardano to hit 1$, Floki inu braces for price breakout and...

    6 hours ago
  • Ben Token Breaks $100 Million Market Cap, Could it Make it...

    6 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Claim 7 BTC

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.