Bitcoin touched new lows under $64,000 as market selling reached a historic level, and analysts warn that the bottom is not in. Does data support analysts’ sub-$60,000 prediction? Bitcoin (BTC) has fallen 13% over the past four days, sliding to $63,844 from $79,300. It is currently trading below $69,000, which is the 2021 bull market high, a level many see as a support level. The drop was matched by a sharp decline in futures activity, with BTC’s open interest falling by more than $10 billion over the past seven days. Analysts are now focusing on the long-term technical zones and onchain indicators that may signal a major turning point for BTC. Read more
Panic selling by short-term holders, extreme fear, and oversold RSI suggested that BTC could be nearing the final phase of capitulation. Bitcoin (BTC) sellers resumed their activity on Thursday as the BTC price dropped below $69,000, the lowest since Nov. 6, 2024. Analysts said that Bitcoin showed signs of “full capitulation” and a potential bottom forming, due to extreme market fear, panic selling by short-term holders and the relative strength index (RSI). Key takeaways: Read more
Bitcoin risks a deeper slide as miners and US spot ETFs cut BTC exposure, adding supply pressure during a fragile downtrend. Bitcoin (BTC) price dropped by more than 22.5% in the past week to $69,000 on Thursday, wiping out 15 months of gains entirely. However, the downtrend may not be over, according to veteran trader Peter Brandt. Key takeaways: Brandt says “campaign selling” is pressuring BTC, with miners and ETFs also cutting exposure. Read more
A $1 million Lightning transfer between SDM and Kraken was used to test whether Bitcoin’s main scaling layer could handle seven‑figure, institutional‑grade payments. Institutional trading and lending desk Secure Digital Markets (SDM) said it sent a $1 million payment to cryptocurrency exchange Kraken over the Lightning Network on Jan. 28. SDM claimed in a Thursday statement shared with Cointelegraph that it is the largest publicly reported Lightning transaction to date and a proof‑of‑concept for seven‑figure transfers between regulated counterparties. The payment cleared in 0.43 seconds and was routed via Voltage’s managed Lightning infrastructure, which provides node management, pre‑provisioned liquidity, and uptime guarantees aimed at exchanges and trading desks. Read more
Bitcoin selling pressure sparked a retreat below the 2021 bull market high, with lower BTC price targets still expected to be hit. Bitcoin (BTC) fell below $70,000 on Thursday as suspicions over coordinated selling boiled over. Key points: Bitcoin tumbles below 2021 highs for the first time since November 2024. Read more
Bhutan has slipped to the seventh-largest nation-state Bitcoin holder, with its stash falling from 13,295 BTC in October 2024 to 5,700 BTC. Bhutan has offloaded another $22 million in Bitcoin mined through its state-owned mining venture, with the sale coming amid crypto price declines and challenging mining conditions. Data from blockchain analytics platform Arkham shows that Bhutan moved 184 Bitcoin (BTC) worth $14 million from its national reserve on Wednesday, adding to another 100.8 Bitcoin transfer worth $8.3 million last Friday. The $22.3 million worth of transfers were sent to crypto market maker QCP Capital, Arkham said. Transferring assets to market makers often signals a sale, as they help convert those assets into liquid markets. Read more
Futures traders drastically reduced their activity as Bitcoin’s weakness extends and new year-to-date lows become a daily occurrence. Cointelegraph reviews traders’ BTC price expectations. Bitcoin’s (BTC) struggle to hold above $70,000 carried into Wednesday, raising concerns that the a drop into the $60,000 range could be the next stop. The sell-off was accompanied by futures market liquidations, a $55 billion drop in BTC open interest (OI) over the past 30 days, and rising Bitcoin inflows to exchanges. The price weakness has analysts debating whether crypto-specific factors or larger macro-economic issues are the driving factor behind the sell-off and what it may mean for BTC’s short-term future. Key takeaways: Read more
The comments came during Bessent's Congressional testimony on Wednesday in a tense exchange with California Representative Brad Sherman. United States Treasury Secretary Scott Bessent testified before Congress on Wednesday and reiterated that the US will retain Bitcoin (BTC) acquired through asset seizures but will not direct private banks to purchase more BTC in the event of a market downturn. California Congressman Brad Sherman, a major critic of Bitcoin and cryptocurrencies, asked Bessent: “Does the Treasury Department or the various components of the Federal Open Market Committee have the authority to bail out Bitcoin?” Sherman then asked Bessent if he plans to direct private banks to acquire more BTC or “Trump Coin,” a reference to memecoins connected to US President Donald Trump, through changing banking reserve requirements to allow them to buy more. Bessent said: Read more