Crypto Market Dips Amid U.S. Government Shutdown Fears

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 3h ago

BTC-0.45%

ETH-1.058%

XRP+1.038%

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Market Decline: The crypto market cap fell by 2% on Tuesday due to fears of an impending U.S. government shutdown, dropping to $2.44 trillion, reflecting heightened investor anxiety and uncertainty.
Bitcoin Volatility: Bitcoin (BTC) fluctuated between $68,400 and $71,000 before closing at $69,400, down 2.4% for the day, indicating uncertainty about future price movements amid market instability.
Leverage Liquidations: As prices dropped, nearly $300 million was liquidated from leveraged positions in the past day, predominantly from long liquidations, highlighting the significant risks investors face in a turbulent market.
ETF Outflows: U.S. spot Bitcoin ETFs recorded only $145 million in net inflows on Monday, marking a 60% drop from last Friday's inflows, indicating a lack of institutional demand that further dampens retail investor enthusiasm.

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Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 0 indicators are flashing buy, while 4 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bitcoin (BTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	41898.168	50949.084	61322.168	70373.084	80746.168	89797.084	100170.168
Fibonacci	50949.084	58369.052	62953.116	70373.084	77793.052	82377.116	89797.084

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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