Altcoins News
By Jean-Luc Maracon
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Institutional Players Stay Quiet. Grayscale Investments, which manages billions in crypto assets, hasn't touched its Bitcoin…
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Global Impact Spreads. El Salvador's President Nayib Bukele tweeted March 28 that his country won't sell any of its…
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Bitcoin dropped under $60,000 Tuesday morning, sending shockwaves through trading floors and sparking fresh concerns about how long investors might wait for the next bull run.
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Selling pressure ramped up dramatically since March started, wiping out billions in market value and leaving traders scrambling to figure out what comes next.
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The crypto fear gauge tells the whole story - the Bitcoin Fear and Greed Index crashed to 23 on March 25, its lowest reading in six months.
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Grayscale Investments, which manages billions in crypto assets, hasn't touched its Bitcoin holdings this month despite the carnage.
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But other institutional money started heading for the exits. Pantera Capital, a major crypto hedge fund, cut its Bitcoin exposure last week according to a spokesperson who…
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Marathon Digital Holdings and other big mining operations keep their rigs running at full capacity, betting prices will recover eventually.
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Hash rate data from Blockchain.com shows the Bitcoin network's computational power holding steady around 200 exahashes per second as of March 28.
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El Salvador's President Nayib Bukele tweeted March 28 that his country won't sell any of its Bitcoin reserves, doubling down on the nation's crypto bet even as losses mount.
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Ethereum got dragged down too, falling below $1,800 March 27 as the broader crypto market followed Bitcoin's lead.
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Chicago Mercantile Exchange futures trading spiked March 26 as institutional traders rushed to hedge their bets.
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Glassnode data reveals that Bitcoin whale addresses holding over 1,000 coins dropped 5% since March started.
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Anthony Pompliano tried calming nerves on his podcast, arguing that Bitcoin's fundamental value hasn't changed despite the price action.
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The latest drop puts Bitcoin down roughly 35% from its November highs, with technical analysts warning that more pain could be coming if support levels don't hold.
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