empty
18.01.2024 08:29 PM
Reaction to ETF or Trend Reversal: What is the Current BTC Sell-Off?

Bitcoin is approaching the end of the trading week in a state of uncertainty, as the asset failed to recover above $43k after a sharp collapse following the approval of the spot BTC-ETF. The cryptocurrency is consolidating near the $42.5k level, but any attempts to resume the upward movement end in a pullback. Simultaneously, sellers are intensifying pressure on the cryptocurrency's quotes, which may lead to further price decreases.

This image is no longer relevant

The news background also remains uncertain. Geopolitical and macroeconomic risks are strengthening the position of the U.S. dollar, creating additional pressure on Bitcoin's quotes. Overall, there is a situation where there are more reasons for further decline in BTC/USD than for consolidation or, moreover, resumption of the upward movement. However, to develop a long-term strategy, it is important to determine whether the BTC price decrease can be considered a full-fledged change in trend.

Is Bitcoin's Trend Changing?

After the approval of the spot BTC-ETF last week, Bitcoin made an upward surge and updated the local price high at the $48.9k mark. Subsequently, the cryptocurrency faced a significant collapse to $41k amid substantial activation of sellers. Much of this process was conditioned by the fact that more than 90% of addresses were in profit, so portfolio unloading and further consolidation were inevitable. As of January 18th, Bitcoin had recovered above $42.5k and firmly established itself at this position.

This image is no longer relevant

The key support level of $40.5k also remains untouched, so there is no talk of a change in trend. This consolidation level is a key support for the BTC/USD movement to $48.9k, and its maintenance indicates relatively strong buyer positions above $40k. Analysts at Fidelity share a similar view, noting that the current BTC price drop is a short-term phenomenon associated with the approval of the BTC-ETF.

Could Bitcoin Fall Below $40k?

As of January 18th, this possibility exists, but it is minimal. Sellers tried to enter the support zone of $40.5k–$40.8k, but to no avail. This support zone was the main accumulation cluster for bulls before the move to $48.9k, so a smooth breakthrough of it seems unlikely. Considering that the market is currently quiet, related to a period of consolidation, and uncertainty regarding the Federal Reserve's policy, a spike in volatility in the crypto market should not be expected.

This image is no longer relevant

As of writing, Bitcoin is under pressure from sellers who continue to unload portfolios. Geopolitical instability strengthens the U.S. dollar index, putting pressure on cryptocurrency quotes. In total, the current decrease and stagnation of Bitcoin are related to the coincidence of several factors that have provoked a local lull and pause in the market. There is no talk of a global trend change, but the possibility of BTC breaking the $40k level remains.

BTC-ETF Bears First Fruit

The trading volumes of spot BTC-ETFs have reached the $10 billion mark, which will positively affect the capitalization of the crypto market and Bitcoin in the medium term. For now, investors are following the rule of "buy he rumor, sell the news." Given the scale and period of accumulation, it's clear that portfolio unloading will also take time. However, alongside this, major funds and other institutional investors are investing in BTC through ETFs.

This image is no longer relevant

ProShares has filed applications for registration of five new BTC-ETFs, including a leveraged product, which could further increase trading volumes in the BTC market. Another BTC-ETF issuer, BlackRock, announced that it continues to buy Bitcoins, including to back the spot BTC-ETF. Company representatives stated that the investment giant's balance sheet includes about 16,000 BTC, totaling over $700 million.

Conclusion

The inertial unloading of portfolios by large and short-term investors following the approval of the spot BTC-ETF, along with macroeconomic and geopolitical tensions, has led to a local lull in the Bitcoin market. As of January 18th, there is a large-scale process of consolidation and capital redistribution in the BTC market. It is quite possible that as part of this process, the price of Bitcoin will break the $40k level, which will prolong the consolidation process and may lead to a deeper correction. However, until this happens, the cryptocurrency is within an upward trend, and the medium-term target should be set at a movement to $50k.

Pilih carta masa
5
min
15
min
30
min
1
jam
4
jam
1
hari
1
minggu
Jana pendapatan melalui perubahan kadar mata wang kripto dengan InstaForex.
Muat turun MetaTrader 4 dan buka dagangan pertama anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    SERTAI PERADUAN

Artikel yang dicadangkan

Cadangan Dagangan untuk Pasaran Mata Wang Kripto pada 28 April

Bitcoin terus menerima tekanan, namun ia masih bertahan dengan agak yakin. Selepas melonjak semula dari paras $92,000, mata wang kripto utama ini kembali ke kawasan $94,000, sekali gus mengekalkan prospek

Miroslaw Bawulski 08:19 2025-04-28 UTC+2

Bitcoin – Analisis Situasi Teknikal

Pada masa ini, pemain spekulasi kenaikan Harga sedang berusaha untuk mengubah keadaan dan mewujudkan sentimen optimis pergerakan menaik bagi bulan April. Pada minggu lalu, paras rintangan di tahap akhir persilangan

Evangelos Poulakis 03:51 2025-04-28 UTC+2

Cadangan Perdagangan untuk Pasaran Mata Wang Kripto pada 25 April

Cubaan yang tidak berjaya semalam untuk kekal melebihi $94,000 menunjukkan bahawa masih terdapat minat membeli yang ketara. Ethereum juga tetap kukuh, walaupun pembetulan semalam semasa sesi Eropah mungkin menggusarkan sesetengah

Miroslaw Bawulski 08:56 2025-04-25 UTC+2

Analisis Teknikal Pergerakan Harga Harian Polkadot Cryptocurrency, Jumaat 25 April 2025.

Dengan keadaan penunjuk Pengayun Stochastic yang kini berada di atas tahap Terlebih Beli (80) walaupun ia masih bergerak di atas WMA (30 Shift 2) yang menunjukkan kecenderungan masih Menaik, namun

Arief Makmur 07:02 2025-04-25 UTC+2

Analisis Teknikal Pergerakan Harga Intraday Mata Wang Kripto Solana, Jumaat 25 April 2025.

Walaupun ketika ini mata wang kripto Solana berada dalam keadaan pengukuhan yang ditunjukkan oleh pergerakan harganya di atas WMA (30 Shift 2), namun kemunculan Perbezaan (Divergence) antara pergerakan harga Solana

Arief Makmur 07:02 2025-04-25 UTC+2

Analisis BTC/USD – 24 April: Bitcoin Menunjukkan Tanda-tanda Pemulihan

Pola gelombang pada carta 4 jam untuk BTC/USD kini menjadi agak lebih kompleks. Kami memerhatikan struktur pembetulan ke bawah yang menyelesaikan pembentukannya sekitar paras $75,000. Selepas itu, satu pergerakan naik

Chin Zhao 10:15 2025-04-24 UTC+2

Cadangan Dagangan untuk Pasaran Mata wang Kripto pada 24 April

Bitcoin gagal bertahan di atas paras $94,000 dan telah membetulkan ke kawasan $92,500, di mana ia kelihatan lebih selesa. Ethereum juga telah menarik balik ke sekitar $1,769 selepas seketika mencecah

Miroslaw Bawulski 08:58 2025-04-24 UTC+2

Bitcoin mungkin menyambung semula aliran menaiknya

Bitcoin mencatat lonjakan kuat semalam. Selepas menembusi paras $90,000, mata wang kripto utama ini melonjak ke arah $94,000, di mana kenaikan itu terhenti buat sementara waktu. Ether juga menyaksikan keuntungan

Jakub Novak 12:59 2025-04-23 UTC+2

Cadangan Perdagangan untuk Pasaran Mata Wang Kripto pada 23 April

Bitcoin telah berjaya melepasi $90,000, sementara Ethereum menambah lebih daripada 10% dalam hanya satu hari, melonjak semula ke $1800. Pemangkin utama adalah kenyataan Donald Trump semalam, menjelaskan bahawa memecat Jerome

Miroslaw Bawulski 09:03 2025-04-23 UTC+2

Cadangan Dagangan untuk Pasaran Mata Wang Kripto pada 22 April

Bitcoin Kembali ke Zon $88,000, tetapi Ethereum Menghadapi Cabaran Penjualan yang berlaku semalam semasa sesi di AS, sekali lagi dicetuskan oleh penurunan dalam indeks saham Amerika, telah ditampung oleh pembeli

Miroslaw Bawulski 08:18 2025-04-22 UTC+2
Tidak boleh bertanya sekarang?
Tanya soalan anda di Ruangan bersembang.
Panggilan semula Widget
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.