Spot Bitcoin ETFs in the United States saw net outflows of $175 million, extending the outflow streak amid thin liquidity during the holiday season. The outflows come as investors brace for Friday’s $23 billion BTC options expiry and bearish price predictions from experts. Spot Bitcoin ETFs Outflow Streak Signals Bearish Institutional Interest According to Farside
The post Spot Bitcoin ETFs Bleed $175M as Analysts Predict BTC Price Crash to $40K appeared first on CoinGape.
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There is a rumor that China could be preparing to offload substantial BTC reserves. Chinese authorities, according to cryptocurrency analyst Leviathan, have about 194,000 BTC that they have acquired through various seizures. China is allegedly the second-largest government Bitcoin holder after the United States. This is significant as it could impact the BTC price.
Local Chinese Governments Allegedly Selling Bitcoin
The analyst states that despite cryptocurrency trading being illegal in mainland China, local governments have been quietly selling confiscated Bitcoin through third-party intermediaries. As per his findings, $400 million has been allegedly liquidated. This selling activity is described as “only beginning” and could majorly impact Bitcoin’s price if it continues or accelerates.
China plans to dump $BTC to $40K
They already sold it for $400M and it's only beginning
I'm risking a lot by revealing this, but here you go
Here's what China is secretly doing and it will affect on BTC
pic.twitter.com/ponfsFDvFM
— Leviathan (@TechLeviathan) April 17, 2025
According to the analyst’s claims, Chinese local governments have developed a system to capitalize on confiscated cryptocurrency despite the country’s official ban on crypto trading.
These authorities are reportedly using an unofficial “backdoor” method to sell seized Bitcoin on foreign exchanges through intermediary companies. They are allegedly converting the proceeds into yuan before transferring the funds back to city finance departments.
The report puts the focus on Jiafenxiang, described as a little-known Shenzhen-based company. The company is said to have processed more than $400 million in cryptocurrency sales on behalf of several city governments.
The arrangement is said to exist in a legal gray area. The officials also referred to it as a “temporary” and “pragmatic” measure, while legal scholars contend it puts China’s cryptocurrency ban directly in contravention.
The findings come after recent reports that China plans to sell 15,000 Bitcoin on offshore exchanges. This situation has reportedly developed due to two factors. One is a lack of national regulations regarding seized cryptocurrency and increasing financial pressure on local governments.
With no standardized protocol for handling confiscated digital assets, each province or city is said to be improvising its own approach. Simultaneously, Chinese municipalities are described as “strapped for funding,” with public income from fines and confiscations reaching 378 billion yuan in 2023.
China’s Sale Could Send BTC Price To $40,000
The expert estimates that the year 2023 was historic in terms of crypto crimes happening in China, with a total amount of more than $59 billion in value associated with illicit activities, and over 3,000 money laundering cases being prosecuted. These enforcement operations are said to further swell the inventory of confiscated Bitcoins for possible sale.
The analyst shares several potential developments that could affect how China manages its alleged Bitcoin holdings and the impact on the BTC price. According to the report, multiple seminars have been held among judges, lawyers, and police. This was done to discuss building a consistent national policy on seized cryptocurrency.
Hong Kong is also cited as a possible solution, with its legal cryptocurrency infrastructure possibly providing cover for mainland operations. The special administrative region already permits ETFs for Bitcoin and Ethereum. This could theoretically provide a framework for handling China’s reported crypto hoard in a more formal way.
Legal advisors are said to be calling for the regulation of third-party firms involved in cryptocurrency liquidation. Currently, there is allegedly no oversight regarding how much is sold or the security procedures involved.
One lawyer even described the market as “lucrative and totally unregulated.” These concerns have prompted calls for an asset disposal agency under central control that would audit sales, verify exchanges used, and prevent potential corruption.
For Bitcoin markets, the implication is that continued selling from this alleged 194,000 BTC could exert downward pressure on prices. He stated that it could potentially cause the Bitcoin price to fall to $40,000.
The post Is China Dumping Bitcoin? Analyst Predicts BTC Price Crash to $40K appeared first on CoinGape.
]]>The world’s largest cryptocurrency Bitcoin (BTC) has continued to show sideways movement as the price consolidates around $51,000. BTC registered its first negative weekly closing in around four weeks as the Bitcoin price started a rally towards $52,000 in late January. At press time, BTC is trading 0.14% down at a price of $51,500 with a market cap of $1,011 billion.
Key Bitcoin (BTC) Price Range to Watch
While everyone is eagerly awaiting a rally in March ahead of the Bitcoin halving event, JPMorgan believes that the rally is already priced in.
Popular crypto analyst Ali Martinez reports that the Bitcoin price is trading between two significant supply zones that could determine its short-term trajectory. The first supply zone, serving as a critical support level, ranges from $50,000 to $51,570, where approximately 1.3 million addresses hold a total of 670,220 BTC.
Conversely, the second zone, acting as a formidable resistance barrier, spans from $51,640 to $53,200, with 752,600 addresses collectively holding 351,600 BTC. However, citing data from Coinglass, Martinez also noted that “$76.38 million will be liquidated across the board if Bitcoin price jumps to $52,250!”
Analysts suggest that a decisive break above the resistance zone could pave the way for a bullish upswing toward $57,130. Conversely, failure to hold above the support zone may signal a corrective movement towards $47,700.
BTC Price Drop to $40,000 Not Ruled Out
Some market analysts have also asked investors to be cautious at this stage noting that Bitcoin price upside looks limited from here onwards. Crypto analyst Michael van de Poppe expressed uncertainty regarding the possibility of an imminent correction in Bitcoin’s price.
He anticipates that the current rally could reach its peak within the $54,000 to $58,000 range. Following this peak, he predicts a significant correction to the $40,000 to $42,000 range, likely occurring after the halving event.
Furthermore, many market analysts are expecting a major correction on Wall Street this year. Last week, Bitcoin maximalist Max Keiser stated that a 1987-like correction is likely on Wall Street. Historically, Bitcoin price and the crypto market have crashed every time there’s been a major correction on Wall Street. However, Max Keiser believes that Bitcoin will prove to be a risk-off asset this time.
This is a common misperception; #Bitcoin is a risk-off asset and the greatest safe haven asset available. https://t.co/dqltY7eGzq
— Max Keiser (@maxkeiser) February 25, 2024
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
In the ever-volatile world of cryptocurrencies, a bold prediction has emerged from a renowned crypto analyst Stockmoney Lizards, who has predicted a new bottom for Bitcoin price. According to a recent analysis, Bitcoin might have found a new floor at $40,000, marking a significant shift in market sentiment.
Notably, this prediction comes at a time when Bitcoin price has been experiencing roller-coaster movements, hitting highs and lows that keep investors on the edge of their seats.
Analyst Sets $40K As New Bottom For Bitcoin
Stockmoney Lizards, a prominent figure in the crypto analysis realm, recently made a striking declaration regarding Bitcoin’s price trajectory. Emphasizing the significance of historical data, the analyst indicated that Bitcoin’s price evolution over the past 13 years aligns remarkably with a logarithmic growth curve.
Notably, this pattern, according to the analyst, is orchestrated by the phenomenon of Bitcoin Halvings, which historically precede bullish cycles. Meanwhile, highlighting the current phase as the fourth cycle, Stockmoney Lizards suggested that the prevailing price pattern mirrors previous cycles closely.
In addition, the analyst went on to assert that the likelihood of Bitcoin dipping below $40,000 again is slim, hinting at a potential new bottom. On the other hand, the analysis projected a potential peak at $250,000, instilling optimism among Bitcoin enthusiasts.
Also Read: Ripple CTO Weighs in on Ex-Employees and XRPL Developments
Market Response and Liquidation Trends
Despite the bullish sentiment echoed by Stockmoney Lizards, the market recently witnessed a muted momentum, with Bitcoin’s price crossing $48,000 in the last 24 hours. However, some market pundits attribute this current downward performance to profit-taking strategies employed by some investors.
However, concerns were raised over crypto liquidation data, indicating widespread selloffs. In the past 24 hours, CoinGlass reported 41,319 traders being liquidated, amounting to a staggering $113.01 million in total liquidations.
Meanwhile, the largest single liquidation order, valued at $1.93 million, occurred on Binance for the ETHBTC pair. Notably, Bitcoin topped the list of individual crypto liquidations, totaling $38.25 million, followed by Solana at $8.81 million.
However, the dip from the $48,000 mark could also propel a buying opportunity for some investors. As of writing, the Bitcoin price was trading at $47,204.28, down 0.20%, after reaching a 24-hour high of $48,152.49.
Meanwhile, amid market turbulence and liquidation concerns, Stockmoney Lizards’ bold prediction of Bitcoin’s $40,000 floor offers a ray of hope for investors. While recent price fluctuations may cause apprehension, the analyst’s insights provide a broader perspective on Bitcoin’s long-term trajectory. As the crypto market continues to evolve, only time will tell if Bitcoin indeed maintains its newfound bottom or embarks on a new price discovery journey.
Also Read: Analyst Remains Bullish On XRP’s Run To $1.88
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Bitcoin Price Fondles With $40k, Solana (SOL) Recovers 12%, Cardano (ADA) Remains Sideways, MANTA Pumps To … Analytics Insight
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Key takeaways
Bitcoin’s selling pressure continues as BTC dips below $40k
Bitcoin, the world’s number one cryptocurrency by market cap, has been underperforming over the last few days. It is down by more than 20% since the spot Bitcoin exchange-traded funds (ETFs) were approved two weeks ago.
At press time, the price of Bitcoin stands at $39,761, down by roughly 1% in the last 24 hours. Despite the current bearish trend, market participants still expect the bull market to launch in full force this year.
The Bitcoin halving is barely three months away and it usually signals the beginning of a Bull Run. If the bullish cycle commences this year, Bitcoin and altcoins could record massive gains in the coming months.
What is Bitbot?
The current bearish trend in the market hasn’t put a dent in the Bitbot presale. It has been a week since the Bitbot presale began and it has already crossed an important milestone.
The rising demand for Bitbot’s token can be attributed to its unique value proposition in the market. Bitbot is a Telegram trading bot that puts the power in the hands of the user. It is a self-custodial trading bot that enables users to trade via their cold wallets on Telegram.
Bitbot provides an innovative way of trading as it leverages Telegram’s position as one of the leading social media platforms for crypto users.
Per the development team, Bitbot will provide numerous powerful features to help traders grow their trading portfolios. The features would be institutional-grade, granting them access to world-class trading functions.
The Bitbot team comprises individuals with vast experience in various fields including traditional finance and blockchain. With Bitcoin expected to reach new highs in the coming months, trading volume will skyrocket in the crypto market if that happens.
Bitbot’s trading innovations
Bitbot is working to develop excellent trading tools for traders. With the right level of adoption, its native token could become one of the biggest winners in the bull cycle.
An exciting aspect of Bitbot is that the tool prioritises security. According to the team, Bitbot will work with Knightsafe to offer a self-custody solution. Thus, mitigating the typical risks associated with Telegram trading.
Part of the funds raised from the presale will be directed towards the development of anti-MEV and anti-rug solutions for users to protect their assets. These features would enable traders to protect themselves from bots artificially pumping transaction costs and block scam projects.
BitBot uses an ultra-flexible wallet management fuelled by non-custodial API technology. The trading tool also uses the open-source smart contract wallet to provide a way superior security level for the non-custodial solution to users.
Bitbot is working on a copy trading feature that would allow investors to copy the trades of the strongest performing wallets based on on-chain activities; predicted to be one of the most popular aspects of the product.
Bitbot raises over $300k in a week
The Bitbot presale is moving on excellently. The team has raised more than $300k a week after the presale began. The presale is currently in its second stage and the team is close to reaching the $410,000 target set for this round.
The new milestone of $300k shows that Bitbot is gaining fast adoption within the cryptocurrency space. The $BITBOT token is going for $0.0105 in the current presale round and will increase to $0.011 once the third round commences.
Per the whitepaper, 20% of tokens will be held by the Bitbot development team to fund ongoing development. 14% to marketing & CEX listings while 3% is allocated to exchange liquidity provision.
Click here to read more about Bitbot’s upcoming presale.
Could Bitbot be a top performer in 2024?
The US SEC has already approved spot Bitcoin ETFs and the Bitcoin halving is 89 days away. These catalysts could help push Bitcoin’s price to a new all-time high this year and the broader crypto market could benefit.
The Bull Run could favour low-cap gems and Bitbot could be one of the biggest winners. Bitbot is putting in the work to become an excellent project for cryptocurrency traders.
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