{"id":423749,"date":"2022-03-30T11:54:13","date_gmt":"2022-03-30T08:54:13","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-hits-3-day-low-as-terra-btc-buy-ins-dry-up-below-48k\/"},"modified":"2022-03-30T11:54:13","modified_gmt":"2022-03-30T08:54:13","slug":"bitcoin-hits-3-day-low-as-terra-btc-buy-ins-dry-up-below-48k","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-hits-3-day-low-as-terra-btc-buy-ins-dry-up-below-48k\/","title":{"rendered":"# Bitcoin hits 3-day low as Terra BTC buy-ins dry up below $48K"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 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-6a3f8f9fe98dd\" 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-6a3f8f9fe98dd\" 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-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-hits-3-day-low-as-terra-btc-buy-ins-dry-up-below-48k\/#%E2%80%9D_Bitcoin_hits_3-day_low_as_Terra_BTC_buy-ins_dry_up_below_48K_%E2%80%9C\" >&#8221; Bitcoin hits 3-day low as Terra BTC buy-ins dry up below $48K &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-hits-3-day-low-as-terra-btc-buy-ins-dry-up-below-48k\/#Trader_BTC_still_on_target_to_crack_50000\" >Trader: BTC still on target to crack $50,000<\/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-hits-3-day-low-as-terra-btc-buy-ins-dry-up-below-48k\/#Risk_asset_drawdown_risk_remains_in_focus\" >Risk asset drawdown risk remains in focus<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_hits_3-day_low_as_Terra_BTC_buy-ins_dry_up_below_48K_%E2%80%9C\"><\/span>&#8221; Bitcoin hits 3-day low as Terra BTC buy-ins dry up below $48K &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Bitcoin (BTC) hinted at a welcome retracement overnight into March 30 after relentless upside failed to flip $48,000 to support.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/02af20c9-85ce-40ac-a815-8088c99bd0b3.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Trader_BTC_still_on_target_to_crack_50000\"><\/span>Trader: BTC still on target to crack $50,000<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a>\u00a0showed BTC\/USD dipping to $46,572 on Bitstamp as Wednesday began \u2014 its lowest since March 27.<\/p>\n<p>A susbequent rebound alleviated some of the losses, and at the time of writing, the pair traded at around $47,400.<\/p>\n<p>The change of tack followed a cooling of the narratives which had surrounded Bitcoin&#8217;s initial push beyond its yearly open price of $46,200 \u2014 a significant achievement which ended the cryptocurrency&#8217;s multi-month trading range.<\/p>\n<p>Blockchain protocol Terra, on its way to amassing an inital $3 billion in BTC for its new stablecoin, was now on an unofficial break from purchases, data from its <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/bitinfocharts.com\/bitcoin\/address\/bc1q9d4ywgfnd8h43da5tpcxcn6ajv590cg6d3tg6axemvljvt2k76zs50tv4q\">target wallet<\/a> <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>eared to show.<\/p>\n<p>BTC last arrived on March 28, but since then, the wallet&#8217;s 27,784 BTC ($1.32 billion) balance has remained unchanged.<\/p>\n<p>Do Kwon, the Terra co-founder who had initially made the buy-in public, had not made any comments about a potential change in strategy at the time of writing.<\/p>\n<p>For popular trader Pentoshi, there was nonetheless still room for further gains above $50,000 in Bitcoin&#8217;s next impulse move, whenever it might come.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">For now should expect yearly open and purple box to act as support. <\/p>\n<p>Potential smol pullback as LFG and Do Kwon appear to be AFK from the green button <\/p>\n<p>Looking for continuation to 51-53k during the next rally for <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/uMQhUI5XqB\">pic.twitter.com\/uMQhUI5XqB<\/a><\/p>\n<p>\u2014 Pentoshi  (@Pentosh1) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Pentosh1\/status\/1508965572977086464?ref_src=twsrc%5Etfw\">March 30, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As Cointelegraph reported, the yearly open was of key importance for many as new support. Losing this at such an early stage, they warned, would mean that the trading range had not been genuinely broken.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Risk_asset_drawdown_risk_remains_in_focus\"><\/span>Risk asset drawdown risk remains in focus<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Another more sobering take on current BTC price action focused on Bitcoin trading habits.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin \u2018could easily see $30K\u2019 with stocks due to 30% drawdown in 2022 \u2014 Analyst<\/em><\/strong><\/p>\n<p>As previously noted by Filbfilb, co-founder of trading suite Decentrader, Bitcoin is being treated less like gold and more like a tech stock under current conditions, adding to an existing stocks correlation which must be broken to avoid price repercussions.<\/p>\n<p>The discussion continued on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a> this week, as popular Twitter account @4adybug laid out misgivings based on Bitcoin&#8217;s performance this year.<\/p>\n<p>Hodlers, it argued, had been disappointed by Bitcoin&#8217;s failure to act as an inflation hedge.\u00a0<\/p>\n<p>&#8220;Bitcoin does not have the characteristics of gold to withstand rate hikes and tightening cycles or black swan events,&#8221; one post read.<\/p>\n<p>Existing concerns over how United States monetary policy changes would impact performance were also heeded, these extending beyond Bitcoin to risk assets more broadly.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">5\/ A hawkish Fed and monetary policy is approaching. This would be catastrophic for high-risk asset classes.<\/p>\n<p>\u2014 \ucc3d\uc774 (@4adybug) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/4adybug\/status\/1508932025964630019?ref_src=twsrc%5Etfw\">March 29, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<\/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 <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> 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-hits-3-day-low-as-terra-btc-buy-ins-dry-up-below-48k\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin hits 3-day low as Terra BTC buy-ins dry up below $48K &#8220; Bitcoin (BTC) hinted at a welcome retracement overnight into March 30 after relentless upside failed to flip $48,000 to support. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader: BTC still on target to crack $50,000 Data from Cointelegraph Markets Pro and&#8230;<\/p>\n","protected":false},"author":1,"featured_media":423750,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvMTFhZWQxZWQtMmY4OS00YTE4LWFhYWItZTcyNDMzOTBiZmU0LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,122378,73785],"class_list":["post-423749","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-terra","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/423749","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=423749"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/423749\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/423750"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=423749"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=423749"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=423749"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}