At $81132 and Sliding 21% on Tuesday, Bitcoin Can't Seem to Catch a Break This Bull Run

Bitcoin has faced its second-largest correction of the current bull run. The coin reached an all-time high of $109590 on January 20 but has since pulled back by 30%

Bitcoin faced its second-largest correction of the current bull run on Tuesday, sliding 2.1% to trade at $81,132.

The world’s largest cryptocurrency has hit a rough patch with intensifying economic pressures and waning confidence.

Bitcoin is still lagging despite a 125% surge last year, inviting analysis on what might come next and what crypto to buy now.

Bitcoin faced its second-largest correction of the current bull run on Tuesday, sliding 2.1% to trade at $81,132.

The world’s largest cryptocurrency has hit a rough patch with intensifying economic pressures and waning confidence.

Crypto Market News: A 30% Correction Hits Bitcoin

Bitcoin has seen its second-largest correction of the current bull run. The coin reached an all-time high of $109,590 on January 20 but has since pulled back by 30%, hitting a low of $77,041 during the week of March 9-15.

The sharp decline has been attributed to selling pressure from short-term holders, defined as those who purchased Bitcoin within the last seven to 30 days.

“If Bitcoin manages to stabilize around these levels, then we can expect a strong recovery in the coming months, based on historical trends,” Bitfinex analysts noted in a recent market commentary.

If Bitcoin stabilizes around these levels, then we can expect a strong recovery in the coming months, based on historical trends. However, a lack of engagement from institutional buyers at these lower levels could spell trouble for Bitcoin as it continues to search for a bottom.

At these lower levels, institutional buying is crucial to absorb the supply and stabilize prices.

Bitcoin is also facing headwinds from a brutal macroeconomic storm. Confidence in the U.S. economy has hit a two-year low with the Federal Reserve forecasting a 2.8% contraction by early 2025.

The spectre of inflation still looms large and trade tensions are refusing to back down, siphoning off Bitcoin’s selling point as a safe harbor.

We’ve yet to see Bitcoin roll over. It’s holding onto support at $80,000 after a weekend tumble. Usually, that kind of move signals a bottom, good news for long-term Bitcoin bulls. But for a real turnaround, we’ll need to see fresh institutional support and a brighter economic outlook.

Bitcoin may still cling to its reputation as “digital gold,” but the jury’s out on its ability to weather inflation without shaking investors to the core.

The post Bitcoin Can’t Catch a Break This Bull Run at $81,132 appeared first on 99Bitcoins.

Key Takeaways:

* Bitcoin faced its second-largest correction of the current bull run on Tuesday, sliding 2.1% to hit $81,132.

* The world’s largest cryptocurrency has hit a rough patch with intensifying economic pressures and waning confidence.

* Bitcoin is lagging despite a 125% surge last year, inviting analysis on what might come next and what crypto to buy now.

World’s largest cryptocurrency slides further as broader market trades in the red.

Bitcoin can’t seem to catch a break this bull run.

At least not yet.

The world’s largest cryptocurrency slid 2.1% on Tuesday, trading at $81,132. As the cryptocurrency market continues to flounder, analysis has turned to the lack of institutional demand in stabilizing Bitcoin at lower levels.

Crypto Market News: A 30% Correction Hits Bitcoin

Bitcoin has faced its second-largest correction of the current bull run. The coin reached an all-time high of $109,590 on January 20 but has since pulled back by 30%, hitting a low of $77,041 during the week of March 9-15.

The sharp decline has been attributed to selling pressure from short-term holders, defined as those who purchased Bitcoin within the last seven to 30 days.

“If Bitcoin manages to stabilize around these levels, then we can expect a strong recovery in the coming months, based on historical trends. However, a lack of engagement from institutional buyers at these lower levels could spell trouble for Bitcoin as it continues to search for a bottom.”

At these lower levels, institutional buying is crucial to absorb the supply and stabilize prices. Without it, we might continue to see Bitcoin struggling to find a solid bottom.

Bitcoin Is Oversold. We Will See A Massive Reversal Soon!

🟨 BTC is oversold on the daily timeframe.

🟨 The price has pulled back 30% from its all-time high.

🟨 Short-term holders are showing weakness with a large inflow in the seven to 30-day cohort.

🟨