Altcoins News

Story: Bitcoin Hits $70K But $75K Looks Tough

By Sakamoto Nashi

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Big Money Selling Hard. Major institutional players are offloading Bitcoin pretty aggressively right now.

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Mixed Signals Everywhere. Tom Lee from Fundstrat Global Advisors stays bullish despite everything.

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Bitcoin jumped past $70,000 Wednesday morning, touching $70,240 in early trading sessions. But getting to $75K won't be easy. The U.S.

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The Federal Reserve dropped its latest meeting minutes on April 1st, and they're pretty cautious about future rate moves.

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The Iran conflict keeps energy markets jumpy, and that hits Bitcoin mining costs hard. Energy prices directly affect how much it costs to mine new Bitcoin, which messes with…

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Major institutional players are offloading Bitcoin pretty aggressively right now. Recent blockchain data shows massive BTC movements hitting exchanges, creating serious selling…

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Regulatory scrutiny is ramping up too. The SEC announced on April 1st they're reviewing recent institutional Bitcoin sales, looking for potential market manipulation.

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Coinbase reported trading volume jumped over the past week. Retail investors seem to be buying the dip while institutions sell, but it's unclear if that's enough to push prices…

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Tom Lee from Fundstrat Global Advisors stays bullish despite everything. He told reporters on April 2nd that Bitcoin's fundamentals look solid even with short-term volatility.

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JP Morgan's March 31st report shows Bitcoin still moves pretty much in sync with traditional stocks.

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Glassnode found on-chain activity picked up significantly on March 30th. More Bitcoin addresses are active, which suggests people are still interested despite all the economic…

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Fidelity announced April 2nd they're expanding Bitcoin offerings to retail clients. That could bring new money into the market, though timing isn't great with all the uncertainty.

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Bitcoin's market cap sits around $1.3 trillion according to CoinMarketCap. That's still massive even with all the current problems.

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No word yet from the Fed on their next rate decision.

The Currency Analytics

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