Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Sonic Defi Drain Accelerates – Has Smart Money left the station?

2025-05-24

President in Chicago Fed evokes concern about stagflation, says the decision of the interest rate will probably be postponed in the midst of tariff uncertainty

2025-05-24

Ethereum Whale loads up while Bitcoin consolidates – daring movement or a fall?

2025-05-24
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    Archer Hunter Partners with tilted on chain gaming on Sei

    2025-05-24

    What is BNB chain Maxwell hardfork?

    2025-05-24

    Collect collaborations with Ecocreds to accelerate sustainability in chains

    2025-05-24

    Enjin Blockchain makes cross-chain stablecoin transfers possible with Hyperbridge

    2025-05-24

    Soonchain Partners with a decentralized calculation and AI -gaming

    2025-05-24
  • NFT

    NFT -turnover drops to $ 129.8 million, Avalanche Sales Surge 200%

    2025-05-24

    Alchemy acquires NFT Launchpad Heymint to speed up the development of Smart Wallet

    2025-05-23

    Delorean launches a car marketplace on the chains with Patrick Stewart

    2025-05-23

    Beratone NFT Avatars are now live on OpenSea

    2025-05-23

    Hashrate Hackers introduces Ordinals NFT collections supported by Bitcoin Hashrate

    2025-05-22
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    Billionaire Bill Ackman collapses $ 1,039,000,000 in a single active in large portfolio shift: report

    2025-05-24

    ETH starts his climb to a milestone of $ 3K

    2025-05-24

    Hyperliquid’s market momentum pushes hype to new high

    2025-05-24

    According to economist and trader Alex Krüger, there is a new of all time for Bitcoin, but there is a catch

    2025-05-24

    Why the 50 EMA could contain the key

    2025-05-24
  • Learn

    Wat is circulerende levering in cryptocurrency?

    2025-05-23

    What Is a DEX (Decentralized Exchange)?

    2025-05-21

    Blockchain Explained: What It Is, How It Works and Why We Need It

    2025-05-21

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Altcoins»If this is true, Bitcoin could fall back to $40,000
Altcoins

If this is true, Bitcoin could fall back to $40,000

2023-12-27No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Journalist

Posted: December 27, 2023


  • BTC fell more than 2% in the past 24 hours as miners sold their holdings.
  • Most market indicators also remained bearish on the king of cryptos.

Bitcoins [BTC] The price has witnessed another correction as the daily chart turned red. This happened while the price of the king of crypto was moving in a parallel channel. If the downturn continues, BTC’s price could soon drop to the $40,000 mark before rebounding.

Bitcoin is bleeding again

After a month-long steady price movement, the king of cryptos fell victim to another correction in the recent past. According to CoinMarketCapThe price of BTC has fallen by more than 2% in the last 24 hours alone.

At the time of writing, it was trading at $42,332.07 with a market cap of over $828 billion. As the price of the coin fell, Ali, a popular crypto analyst, pointed out that BTC was moving in a parallel channel on the 4-hour chart.

In the 4-hour chart it is #Bitcoin is consolidating within a parallel channel, which puts all the focus on the support at $42,400.

Could see a continued decline below $BTC go to $40,700. On the other hand, a recovery from here could set the stage for a rebound towards $44,400. pic.twitter.com/P4f6C97cvL

— Ali (@ali_charts) December 26, 2023

According to the tweet, BTC’s value was at a key support level of $42,400. With the currency failing to test that support level and falling below it, the possibility of a continued downturn seemed likely.

If the data is to be believed, Bitcoin could fall to $40,000 again before the end of the year. Nevertheless, the great thing was that after touching $40,000, BTC could initiate a bull rally that could take it to $44,000.

See also  Is the NFT winter over? Prices rise as Bitcoin and Ethereum rise

Is a further downward trend possible?

To check the viability of BTC at $40,000, AMBCrypto took a closer look at Bitcoin’s on-chain metrics. Our analysis showed that BTC‘s aSORP turned red, which meant more investors were selling at a profit.

Source: CryptoQuant

According to our look at CryptoQuant’s factsBTC’s Miners Position Index (MPI) also marked the same red color. This clearly meant that miners were selling more assets compared to the annual average, which had the potential to push the price of the coin further down.

However, it was interesting to see that even though the MPI and the aSORP were red, both Bitcoin’s exchange reserve and exchange grid remained green.

When these metrics turn green, it suggests that buying pressure on a token is high, which can be seen as a bullish signal.

Source: CryptoQuant


Read Bitcoins [BTC] Price prediction 2023-24


AMBCrypto then looked into it BTC‘s daily chart and found that the sellers led the market as the MACD showed a bearish crossover.

Bitcoin’s Relative Strength Index (RSI) registered a decline, indicating a continued price decline. Nevertheless, the Chaikin Money Flow (CMF) remained bullish as it moved north.

Source: TradingView



Source link

Bitcoin Fall true
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Sonic Defi Drain Accelerates – Has Smart Money left the station?

2025-05-24

Ethereum Whale loads up while Bitcoin consolidates – daring movement or a fall?

2025-05-24

$ 10 breakout or will Ozak AI surpass in 2025?

2025-05-24

“If gold is the past and Bitcoin is the future, why …?” Peter Schiff asks banks

2025-05-24
Add A Comment

Comments are closed.

Top Posts

Why This Executive Thinks $1 Million for Bitcoin ‘Already Decided’

2024-03-12

Passion for football meets Blockchain & Web3 Tech

2024-12-17

Sandbox Metaverse unveils AR music experience with Warner

2023-07-09
Editors Picks

Poly Network announces the complete termination of all services

2024-09-15

Paris Hilton drops exclusive 5,555 playable Avatar collection in The Sandbox

2023-05-22

DeFinity Markets adds Chainalysis KYT for compliance and risk management

2024-11-20

Cathie Wood is selling Coinbase (COIN) stock while picking up more Robinhood (HOOD) stock

2023-11-29
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Sonic Defi Drain Accelerates – Has Smart Money left the station?

President in Chicago Fed evokes concern about stagflation, says the decision of the interest rate will probably be postponed in the midst of tariff uncertainty

Ethereum Whale loads up while Bitcoin consolidates – daring movement or a fall?

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$110,422.60-0.12%
  • ethereumEthereum(ETH)$2,651.881.61%
  • tetherTether USDt(USDT)$1.00-0.02%
  • rippleXRP(XRP)$2.420.78%
  • binancecoinBNB(BNB)$683.320.50%
  • solanaSolana(SOL)$180.372.50%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.2425701.84%
  • cardanoCardano(ADA)$0.812.40%
  • tronTRON(TRX)$0.2731790.29%
  • suiSui(SUI)$3.82-5.40%
  • hyperliquidHyperliquid(HYPE)$35.0515.09%
  • chainlinkChainlink(LINK)$16.591.94%
  • avalanche-2Avalanche(AVAX)$24.963.88%
  • stellarStellar(XLM)$0.3003471.03%
  • shiba-inuShiba Inu(SHIB)$0.0000152.04%
  • bitcoin-cashBitcoin Cash(BCH)$437.635.60%
  • hedera-hashgraphHedera(HBAR)$0.2025991.17%
  • unus-sed-leoUNUS SED LEO(LEO)$8.86-0.04%
  • the-open-networkToncoin(TON)$3.130.01%
  • polkadotPolkadot(DOT)$4.912.42%
  • litecoinLitecoin(LTC)$99.771.73%
  • moneroMonero(XMR)$392.06-0.86%
  • bitget-tokenBitget Token(BGB)$5.789.96%
  • pepePepe(PEPE)$0.00001510.83%
  • piPi(PI)$0.79-4.78%
  • daiDai(DAI)$1.00-0.01%
  • ethena-usdeEthena USDe(USDE)$1.00-0.06%
  • uniswapUniswap(UNI)$6.421.77%
  • bittensorBittensor(TAO)$458.95-2.84%
  • aaveAave(AAVE)$254.341.11%
  • nearNEAR Protocol(NEAR)$3.033.54%
  • aptosAptos(APT)$5.818.34%
  • ondo-financeOndo(ONDO)$1.011.19%
  • okbOKB(OKB)$52.83-0.29%
  • kaspaKaspa(KAS)$0.114524-0.41%
  • internet-computerInternet Computer(ICP)$5.612.68%
  • ethereum-classicEthereum Classic(ETC)$19.450.44%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.54-6.39%
  • gatechain-tokenGateToken(GT)$21.930.56%
  • render-tokenRender(RENDER)$5.164.81%
  • crypto-com-chainCronos(CRO)$0.0989160.05%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2494370.54%
  • vechainVeChain(VET)$0.0302161.31%
  • mantleMantle(MNT)$0.761.52%
  • ethenaEthena(ENA)$0.4169882.88%
  • worldcoin-wldWorldcoin(WLD)$1.5321.60%
  • usd1World Liberty Financial USD(USD1)$1.00-0.13%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.9010.09%
  • arbitrumArbitrum(ARB)$0.4241670.99%
  • bitcoinBitcoin(BTC)$110,422.60-0.12%
  • ethereumEthereum(ETH)$2,651.881.61%
  • tetherTether USDt(USDT)$1.00-0.02%
  • rippleXRP(XRP)$2.420.78%
  • binancecoinBNB(BNB)$683.320.50%
  • solanaSolana(SOL)$180.372.50%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.2425701.84%
  • cardanoCardano(ADA)$0.812.40%
  • tronTRON(TRX)$0.2731790.29%
  • suiSui(SUI)$3.82-5.40%
  • hyperliquidHyperliquid(HYPE)$35.0515.09%
  • chainlinkChainlink(LINK)$16.591.94%
  • avalanche-2Avalanche(AVAX)$24.963.88%
  • stellarStellar(XLM)$0.3003471.03%
  • shiba-inuShiba Inu(SHIB)$0.0000152.04%
  • bitcoin-cashBitcoin Cash(BCH)$437.635.60%
  • hedera-hashgraphHedera(HBAR)$0.2025991.17%
  • unus-sed-leoUNUS SED LEO(LEO)$8.86-0.04%
  • the-open-networkToncoin(TON)$3.130.01%
  • polkadotPolkadot(DOT)$4.912.42%
  • litecoinLitecoin(LTC)$99.771.73%
  • moneroMonero(XMR)$392.06-0.86%
  • bitget-tokenBitget Token(BGB)$5.789.96%
  • pepePepe(PEPE)$0.00001510.83%
  • piPi(PI)$0.79-4.78%
  • daiDai(DAI)$1.00-0.01%
  • ethena-usdeEthena USDe(USDE)$1.00-0.06%
  • uniswapUniswap(UNI)$6.421.77%
  • bittensorBittensor(TAO)$458.95-2.84%
  • aaveAave(AAVE)$254.341.11%
  • nearNEAR Protocol(NEAR)$3.033.54%
  • aptosAptos(APT)$5.818.34%
  • ondo-financeOndo(ONDO)$1.011.19%
  • okbOKB(OKB)$52.83-0.29%
  • kaspaKaspa(KAS)$0.114524-0.41%
  • internet-computerInternet Computer(ICP)$5.612.68%
  • ethereum-classicEthereum Classic(ETC)$19.450.44%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.54-6.39%
  • gatechain-tokenGateToken(GT)$21.930.56%
  • render-tokenRender(RENDER)$5.164.81%
  • crypto-com-chainCronos(CRO)$0.0989160.05%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2494370.54%
  • vechainVeChain(VET)$0.0302161.31%
  • mantleMantle(MNT)$0.761.52%
  • ethenaEthena(ENA)$0.4169882.88%
  • worldcoin-wldWorldcoin(WLD)$1.5321.60%
  • usd1World Liberty Financial USD(USD1)$1.00-0.13%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.9010.09%
  • arbitrumArbitrum(ARB)$0.4241670.99%