{"id":203045,"date":"2021-03-16T03:23:55","date_gmt":"2021-03-16T00:23:55","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-bulls-take-a-breather-while-btc-price-slips-below-55000\/"},"modified":"2021-03-16T03:23:55","modified_gmt":"2021-03-16T00:23:55","slug":"bitcoin-bulls-take-a-breather-while-btc-price-slips-below-55000","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-bulls-take-a-breather-while-btc-price-slips-below-55000\/","title":{"rendered":"# Bitcoin bulls take a breather while BTC price slips below $55,000"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a23d4c4ceaa0\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a23d4c4ceaa0\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-bulls-take-a-breather-while-btc-price-slips-below-55000\/#The_bullish_uptrend_remains_intact\" >The bullish uptrend remains intact<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-bulls-take-a-breather-while-btc-price-slips-below-55000\/#Stimulus_optimism_leads_to_new_record-highs_in_equities\" >Stimulus optimism leads to new record-highs in equities<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-bulls-take-a-breather-while-btc-price-slips-below-55000\/#Select_altcoins_ignore_Bitcoins_bearish_turn\" >Select altcoins ignore Bitcoin&#8217;s bearish turn<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin bulls take a breather while BTC price slips below $55,000 <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin\u00a0price sold off on March 15 as bears pushed the price back into the mid-$50,000 range a few days after (BTC)\u00a0hit a new all-time high above $61,000.\u00a0<\/p>\n<p>Data from Cointelegraph Markets and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\">TradingView<\/a> shows that Bitcoin price dropped as low as $54,600 and at the time of writing, buyers have not stepped in to arrest the decline. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-03\/9ba654ad-b248-41ee-92cd-913ecbbe1691.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USDT 4-hour chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>A <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of recent developments have increased the fear, uncertainty and doubt (FUD) factor for the top cryptocurrency, including rumors of a potential digital asset ban in India that would criminalize the possession, issuance, mining, trading and transfer of cryptocurrency. <\/p>\n<p>Adding to the bad <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> of the day, PancakeSwap (CAKE) and Cream Finance (CREAM), two of the top DeFi projects on the Binance Smart Chain, fell victim to a DNS spoofing attack that sought to phish users into entering their private keys on the website.<\/p>\n<p>Both projects im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely informed users of the exploit and advised them to avoid logging in until the issue is resolved. and are reminded to keep their private keys and seed phrases secure and stored offline. At the daily close CAKE price was down by 8.7% and CREAM dropped by 14.3% before recovering to $110 at the daily close.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_bullish_uptrend_remains_intact\"><\/span>The bullish uptrend remains intact <span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Despite Monday\u2019s decline, traders are optimistic that BTC will see a rapid recovery and a recent survey estimates that up to 10% of the $400 billion in pandemic relief for U.S. citiz\u00a0could be used to purchase Bitcoin and stocks. <\/p>\n<p>Another bullish sign for BTC comes from the futures markets, where a record $22.5 billion in open interest on BTC futures indicates that bulls remain optimistic that the current uptrend will continue. <\/p>\n<p>According to Chad Steinglass, Head of Trading at CrossTower, the early morning sell-off was not surprising due to several factors including less liquidity on the weekends which can lead to \u201cliquidations in highly levered swap and options products that trade outside of the U.S.,\u201d exacerbating the downward movement. <\/p>\n<p>Steinglass said:<\/p>\n<blockquote><p>\u201cCouple this with the fact that China has been trading weak ever since the Lunar New Year in both equity and crypto markets, and a sell-off from the weekend highs, while dis<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ointing, is not particularly surprising.\u201d<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Stimulus_optimism_leads_to_new_record-highs_in_equities\"><\/span>Stimulus optimism leads to new record-highs in equities<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The traditional financial markets rallied on Monday as optimism surrounding the recent $1.9 billion stimulus package signed by President Biden helped dampen concerns related to rising Treasury yields. <\/p>\n<p>The S&amp;P 500, Dow and NASDAQ all closed the day positive, up 0.65%, 0.53% and 1.05% respectively. The S&amp;P 500 and Dow both establishing new all-time highs as the trading day closed. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Select_altcoins_ignore_Bitcoins_bearish_turn\"><\/span>Select altcoins ignore Bitcoin&#8217;s bearish turn<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-03\/7aedf056-725f-4293-bef3-34ee7b417203.png\"><figcaption style=\"text-align: center;\"><em>Daily cryptocurrency market performance. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coin360.com\/\"><em>Coin360<\/em><\/a><\/figcaption><\/figure>\n<p>Despite the bearish turn of events, several altcoins were able to resist and rally higher.<\/p>\n<p>Enjin (ENJ) saw its price surge 32% to a new all-time high of $3.00 during the early trading hours as the altcoins volume surged after being listed on Huobi exchange. <\/p>\n<p>The dual-token system of VeChain (VET) and the VeThor Token (VTHO) also moved higher as a high volume spike lifted VET to a new all-time high at $0.0827. VTHO price increased 37% to $0.0119, its highest level in over two years. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-03\/fae53201-0579-474b-ad08-19802cd440bc.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD daily chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coin360.com\/\"><em>Coin360<\/em><\/a><\/figcaption><\/figure>\n<p>The overall cryptocurrency market cap now stands at $1.71 trillion and Bitcoin\u2019s dominance rate is 60.9%.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-bulls-take-a-breather-while-btc-price-slips-below-55-000\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin bulls take a breather while BTC price slips below $55,000 &#8221; Bitcoin\u00a0price sold off on March 15 as bears pushed the price back into the mid-$50,000 range a few days after (BTC)\u00a0hit a new all-time high above $61,000.\u00a0 Data from Cointelegraph Markets and TradingView shows that Bitcoin price dropped as low as $54,600&#8230;<\/p>\n","protected":false},"author":1,"featured_media":203046,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDMvMDA2OGY4NjQtYmYzOC00NDc4LWI4MjctOGZlZDRmYWQ4ZTc4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,74894,74863,78810,75150,95118,79699,73785],"class_list":["post-203045","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-price","tag-blockchain","tag-cryptocurrencies","tag-enjin","tag-market-update","tag-nft","tag-vechain","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/203045","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=203045"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/203045\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/203046"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=203045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=203045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=203045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}