NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin Plunges By $300 in Minutes as Bearish Sentiment Mounts

Nick Chong
Nick Chong
1 year ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Over the past 30 minutes, Bitcoin (BTC) has plunged by $300 from $9,515 to $9,200. As such, the cryptocurrency is now trading 3% down on the day. While this wasn’t a decisively bearish move in and of itself, a sentiment that “the rally is over” is starting to bubble in trading circles.

Related Reading: Coffee for Crypto? ICE to Launch Bitcoin Consumer App with Starbucks

Bearish Bitcoin Analyses Rack Up

This move comes as bearish Bitcoin analyses have begun to reappear on Twitter, despite the historical 42% move that the leading cryptocurrency saw on the weekend.

As reported by NewsBTC previously, analyst Velvet noted that Bitcoin’s recent surge upward hasn’t convinced him that a crypto market rally to fresh all-time highs isn’t inbound. They argued that their analysis indicates Bitcoin may be trading in a textbook bearish pattern defined by prominent historical technician Richard Wyckoff.

As Velvet pointed out, the recent rally, according to Wyckoff’s studies, might just be a “throwback” to a bull trend before an eventual breakdown, defined as a “markdown” by the analyst.

$BTC #BTC #BTCUSD

I'm not convinced with this weekly close guys, I'm sorry for not being bullish like everyone else. I guess somebody has to be the bear right? or at least have a Conservative approach

Here is something to keep in mind among all the bullish and hopium charts 👇 pic.twitter.com/pNWo6PIO9Y

— MAXi. (@888Velvet) October 28, 2019

Their analysis indicates that the target of the downside move could be closer to where Bitcoin broke out of its accumulation range, near $5,800.

Velvet isn’t the only one spouting bearish analysis. Crypto Walker argued that BTC is still trending in descending channel, having been rejected in a high-volume move at resistance. He added that with the “death cross” still formed and there having been a large “drop in open interest,” he remains bearish.

$BTC daily

The descending channel is still intact. High volume rejection at resistance. Price dumped below 100MA again. Death cross 50/200MA. Huge drop in open interest during the recent pump.

I remain bearish for now but open to switch bias if I see a bullish consolidation. pic.twitter.com/355fNPOjF0

— Crypto Walker (@cryptoWalk3r) October 28, 2019

Bullish Above $8,000

Although there is a growing level of sentiment hinting at an impending correction for Bitcoin, popular macro and crypto analyst Alex Krüger has kept it simple. In a recent tweet, he remarked that Bitcoin’s chart remains bullish as long as the cryptocurrency remains above the $8,000 to $8,200 region — some 15% lower than the current price point of $9,300.

$BTC. Chart. Bullish. Invalidation: 8200-8000. pic.twitter.com/jJWoGGUZqj

— Alex Krüger (@krugermacro) October 28, 2019

He remarked in an earlier tweet that a loss of the abovementioned region will render the recent Bitcoin bull move “dead,” and thus lead to a continuation “lower,” presumably below the multi-month low of $7,300 established late last week.

Related Reading: Analyst: Bitcoin May Target $8,900 After Being Rejected at Key Resistance

 

Featured Image from Shutterstock
Tweet123Share227ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Letni zastój na rynku Bitcoina? Niektóre wolumeny najniższe od lat

Dane on-chain pokazują, że wolumeny handlu Bitcoinem na rynku spot i rynku futures spadły do nowych minimów, mimo że cena...

newsbtc 2 hours ago

Theta Network Welcomes Prestigious Hongik University as the 21st Academia Customer of EdgeCloud Hybrid

Theta Labs, the leader in decentralized cloud infrastructure for AI, media, and entertainment, today announced that the High-Performance Data Processing...

News BTC 3 hours ago
Ethereum

Ethereum Sees $6 Billion In Tokenized Funds As Big Players Jump In

Ethereum’s smart-contract platform has crossed a major line. According to data shared by Token Terminal on X, the total value...

Christian Encila 3 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Solana

Solana’s Pump.Fun Loses Steam With Exit Scam Rumors, LetsBonk.Fun Claims 54% Of Total Market Share

Scott Matherson 53 minutes ago
Trump

TRUMP Meme Coin Plants Flag On TRON Network—Details

Christian Encila 53 minutes ago

Ethereum raggiunge i 6 miliardi di dollari in fondi tokenizzati mentre i grandi investitori entrano in gioco.

clararosati 2 hours ago

Premium Sponsors

Press Releases

  • Oblíbená alternativa Dogecoinu (DOGE), která z 650 USD udělá 65 000 USD za 4 měsíce

    Oblíbená alternativa Dogecoinu (DOGE), která z 650 USD...

    41 minutes ago
  • 3 altcoiny, které sledovat v prvním týdnu července 2025

    3 altcoiny, které sledovat v prvním týdnu července 2025

    1 hour ago
  • Trendingowy alternatywny kryptowalut dla Dogecoin (DOGE), który zamieni 650 USD na 65 000 USD w ciągu 4 miesięcy

    Trendingowy alternatywny kryptowalut dla Dogecoin (DOGE)...

    2 hours ago
  • トランプ氏の貿易戦争懸念で注目集まる新しい仮想通貨、今買うべき銘柄は?

    ...

    2 hours ago
  • Která kryptoměna má větší šanci udělat z vás milionáře? XRP vs. Token6900

    Která kryptoměna má větší šanci udělat z vás...

    2 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

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.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 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.