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

Democratic senators try to block President Trump’s crypto companies, stating ‘Grift’ and national security risks

2025-05-08

Securitize is at the top of the list, tradable, ONDO, paxos and other dominant players

2025-05-08

Bitcoin price flash signal that has led to an increase every time

2025-05-08
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

    Securitize is at the top of the list, tradable, ONDO, paxos and other dominant players

    2025-05-08

    Solana’s software supports these Layer-1’s

    2025-05-08

    Element goes live on abstract blockchain to power the next generation of modular daps

    2025-05-08

    Camino works together with Lufthansa Systems and Swiss to stimulate innovation in the travel industry

    2025-05-08

    How Plume is planning to scale tokenized real estate to $ 4 trillion by 2035

    2025-05-08
  • NFT

    Drink-to-earn? A new sparkling water comes with an NFT and points

    2025-05-08

    Cobie says we will return if someone buys this $ 20 million NFT

    2025-05-08

    Edge Matrix, Colabs Partner to strengthen NFT -Makers

    2025-05-08

    Argentinian football club Partners with StepN to launch digital sneakers

    2025-05-05

    Pudgy Penguins #6873 Leads with Top NFT -sale worth $ 360.2k

    2025-05-04
  • 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

    Bitcoin hits $ 101k to reclaim six digits, because Trump confirms us, UK Trade Deal

    2025-05-08

    Crypto Exchange Coinbase adds Gold-Pegged Stablecoin Paxg to the list of route map

    2025-05-08

    XRP is forming bullish reverse dragon head pattern, how high can the price go?

    2025-05-08

    Bitcoin is recovering, but the market is still sharp with short -term holders near Breakeven

    2025-05-08

    Analysts say that $ 2,500,000,000,000,000 ‘avalanche’ of selling could reach the US dollar, warning trade wars threaten Greenback’s profession: report: report

    2025-05-08
  • Learn

    What Is a Layer-1 (L1) Blockchain?

    2025-05-03

    What is a Layer-2 (L2) Blockchain Network Solution?

    2025-05-02

    What Is a Layer-0 Protocol?

    2025-05-02

    What Are Utility Tokens? Types, Roles, Examples

    2025-04-17

    Real-World-Assets in Crypto, Explained

    2025-04-16
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Bitcoin»Bitcoin: Best Time to ‘Buy the Dip’? BTC’s Drop Below $57K Says…
Bitcoin

Bitcoin: Best Time to ‘Buy the Dip’? BTC’s Drop Below $57K Says…

2024-09-04No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email
Avatar

Journalist

Posted: September 4, 2024

  • The number of long positions in the Bitcoin market increased.
  • The Rainbow Chart pointed out that the price of BTC was significantly lower than it should be.

Bitcoin [BTC] remained bearish as the king coin was trading below $57,000 at the time of writing. While this initially looked disastrous, this might as well be a good opportunity for smart investors to buy the dip.

According to CoinMarketCapThe price of BTC has fallen by more than 3% in the past seven days. In the last 24 hours alone, the king coin witnessed a price drop of almost 4%.

At the time of writing, BTC was trading at $56,760.06, with a market cap of over $1.12 trillion.

Should You Buy Bitcoin’s Dip?

Meanwhile, Ali, a popular crypto analyst, posted one tweet which shows a bullish development. Top BTC traders on Binance showed a slight bullish tilt, with 51.79% of investors holding long positions on BTC.

In general, an increase in the number of long positions in the market indicates an increase in bullish sentiment around an asset.

Therefore, AMBCrypto planned to take an in-depth look at the state of BTC to find out whether investors should consider buying the dip.

Our look at Glassnode’s data showed that BTC was trading well below its possible market bottom. According to the Pi Cycle Top indicator, BTC’s possible bottom was at $58.9k.

This suggested that BTC could move towards $58.9k in the coming days.

Bitcoin's Pi Cycle Top IndicatorBitcoin's Pi Cycle Top Indicator

Source: Glassnode

Evaluating the future path of BTC

With BTC trading well below its market bottom, AMBCrypto checked other data sets to figure out if this was the right time to accumulate.

See also  Bitcoin -indicator shows that the market is getting overheated a lot

According to the Bitcoin Rainbow Chart, the price of BTC was in the zone of “Fundamentally a Fire Sale.” This meant that the current price of BTC was significantly lower than it should be, revealing a high opportunity for accumulation.

The Bitcoin Rainbow ChartThe Bitcoin Rainbow Chart

Source: Blockchaincenter

AMBCrypto then checked CryptoQuant’s facts to see if investors have already started buying more BTC. We found that the King Coin Exchange Reserve was falling, signaling an increase in buying pressure.

The Korea Premium was also green, meaning buying sentiment was dominant among Korean investors. However, the Coinbase Premium turned red. This suggested that US investors are considering selling BTC.

Source: CryptoQuant


Read Bitcoins [BTC] Price prediction 2024–2025


The Chaikin Money Flow (CMF) registered an upswing. This indicated that BTC’s bearish price action might end soon.

However, the Relative Strength Index (RSI) has moved south, meaning that the possibility of BTC falling further cannot yet be ruled out.

Source: TradingView

Previous: FET tests key support level: can it reverse the 14% price drop?

Next: Bitcoin Analyst Sees a Recovery Based on THIS Historical Pattern

Source link

57K Bitcoin BTCs Buy Dip Drop Time
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin price flash signal that has led to an increase every time

2025-05-08

Bitcoin hits $ 101k to reclaim six digits, because Trump confirms us, UK Trade Deal

2025-05-08

Texas a step away from creating official Bitcoin Reserve

2025-05-08

Arizona follows New Hampshire: Bitcoin Reserve Bill ‘Signed in Law’

2025-05-08
Add A Comment

Comments are closed.

Top Posts

Bitcoin: Investigate whether this pattern BTC can help to rise to $ 90k

2025-03-18

Bitcoin Price Sprint to $40,000 – Could This Happen Soon Before EOY?

2023-12-01

University of Glasgow launches £5.6m museums in Metaverse Digital Initiative

2023-10-13
Editors Picks

Trading volume for Bitcoin Ordinals falls over 97% since May: report

2023-08-18

Oof! Bitcoin lost $34 billion in value in less than 20 minutes!

2023-12-12

Ethereum price could see “launch” if ETH clears this resistance

2023-05-26

Dogecoin Price (DOGE) Forecast – Key Support Intact, But Bulls Face Challenges

2023-09-28
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

Democratic senators try to block President Trump’s crypto companies, stating ‘Grift’ and national security risks

Securitize is at the top of the list, tradable, ONDO, paxos and other dominant players

Bitcoin price flash signal that has led to an increase every time

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)$103,064.885.84%
  • ethereumEthereum(ETH)$2,174.1219.18%
  • tetherTether USDt(USDT)$1.00-0.02%
  • rippleXRP(XRP)$2.297.48%
  • binancecoinBNB(BNB)$623.473.48%
  • solanaSolana(SOL)$161.589.07%
  • usd-coinUSDC(USDC)$1.000.02%
  • dogecoinDogecoin(DOGE)$0.19470512.70%
  • cardanoCardano(ADA)$0.7612.70%
  • tronTRON(TRX)$0.2566803.01%
  • suiSui(SUI)$3.9818.45%
  • chainlinkChainlink(LINK)$15.7513.43%
  • avalanche-2Avalanche(AVAX)$21.8711.10%
  • stellarStellar(XLM)$0.28862810.47%
  • bitcoin-cashBitcoin Cash(BCH)$422.3512.77%
  • shiba-inuShiba Inu(SHIB)$0.00001410.96%
  • hedera-hashgraphHedera(HBAR)$0.1935629.66%
  • unus-sed-leoUNUS SED LEO(LEO)$8.841.08%
  • the-open-networkToncoin(TON)$3.195.32%
  • hyperliquidHyperliquid(HYPE)$22.917.96%
  • litecoinLitecoin(LTC)$93.923.45%
  • polkadotPolkadot(DOT)$4.4211.20%
  • moneroMonero(XMR)$299.526.15%
  • daiDai(DAI)$1.00-0.02%
  • bitget-tokenBitget Token(BGB)$4.485.89%
  • ethena-usdeEthena USDe(USDE)$1.00-0.08%
  • pepePepe(PEPE)$0.00001133.17%
  • piPi(PI)$0.649.35%
  • uniswapUniswap(UNI)$5.9421.35%
  • bittensorBittensor(TAO)$417.2711.79%
  • aptosAptos(APT)$5.4112.58%
  • nearNEAR Protocol(NEAR)$2.6917.07%
  • okbOKB(OKB)$52.603.83%
  • aaveAave(AAVE)$203.4417.14%
  • ondo-financeOndo(ONDO)$0.9610.00%
  • ethereum-classicEthereum Classic(ETC)$18.4814.06%
  • internet-computerInternet Computer(ICP)$5.1711.67%
  • gatechain-tokenGateToken(GT)$21.903.52%
  • crypto-com-chainCronos(CRO)$0.0979296.93%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.24908513.59%
  • kaspaKaspa(KAS)$0.0981105.87%
  • mantleMantle(MNT)$0.755.60%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.4012.33%
  • vechainVeChain(VET)$0.02815513.00%
  • render-tokenRender(RENDER)$4.669.65%
  • usd1World Liberty Financial USD(USD1)$1.000.22%
  • ethenaEthena(ENA)$0.33764225.45%
  • filecoinFilecoin(FIL)$2.9011.62%
  • algorandAlgorand(ALGO)$0.22308111.84%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.7713.28%
  • bitcoinBitcoin(BTC)$103,064.885.84%
  • ethereumEthereum(ETH)$2,174.1219.18%
  • tetherTether USDt(USDT)$1.00-0.02%
  • rippleXRP(XRP)$2.297.48%
  • binancecoinBNB(BNB)$623.473.48%
  • solanaSolana(SOL)$161.589.07%
  • usd-coinUSDC(USDC)$1.000.02%
  • dogecoinDogecoin(DOGE)$0.19470512.70%
  • cardanoCardano(ADA)$0.7612.70%
  • tronTRON(TRX)$0.2566803.01%
  • suiSui(SUI)$3.9818.45%
  • chainlinkChainlink(LINK)$15.7513.43%
  • avalanche-2Avalanche(AVAX)$21.8711.10%
  • stellarStellar(XLM)$0.28862810.47%
  • bitcoin-cashBitcoin Cash(BCH)$422.3512.77%
  • shiba-inuShiba Inu(SHIB)$0.00001410.96%
  • hedera-hashgraphHedera(HBAR)$0.1935629.66%
  • unus-sed-leoUNUS SED LEO(LEO)$8.841.08%
  • the-open-networkToncoin(TON)$3.195.32%
  • hyperliquidHyperliquid(HYPE)$22.917.96%
  • litecoinLitecoin(LTC)$93.923.45%
  • polkadotPolkadot(DOT)$4.4211.20%
  • moneroMonero(XMR)$299.526.15%
  • daiDai(DAI)$1.00-0.02%
  • bitget-tokenBitget Token(BGB)$4.485.89%
  • ethena-usdeEthena USDe(USDE)$1.00-0.08%
  • pepePepe(PEPE)$0.00001133.17%
  • piPi(PI)$0.649.35%
  • uniswapUniswap(UNI)$5.9421.35%
  • bittensorBittensor(TAO)$417.2711.79%
  • aptosAptos(APT)$5.4112.58%
  • nearNEAR Protocol(NEAR)$2.6917.07%
  • okbOKB(OKB)$52.603.83%
  • aaveAave(AAVE)$203.4417.14%
  • ondo-financeOndo(ONDO)$0.9610.00%
  • ethereum-classicEthereum Classic(ETC)$18.4814.06%
  • internet-computerInternet Computer(ICP)$5.1711.67%
  • gatechain-tokenGateToken(GT)$21.903.52%
  • crypto-com-chainCronos(CRO)$0.0979296.93%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.24908513.59%
  • kaspaKaspa(KAS)$0.0981105.87%
  • mantleMantle(MNT)$0.755.60%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.4012.33%
  • vechainVeChain(VET)$0.02815513.00%
  • render-tokenRender(RENDER)$4.669.65%
  • usd1World Liberty Financial USD(USD1)$1.000.22%
  • ethenaEthena(ENA)$0.33764225.45%
  • filecoinFilecoin(FIL)$2.9011.62%
  • algorandAlgorand(ALGO)$0.22308111.84%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.7713.28%