btcupdates2024

🚨 Bitcoin Drops Below $81K! Weekend Weakness Hits Hard

📉 BTC Price: Slipped under $81,000, down 2.2% in 24h

🕒 Trading Volume: Thin weekend liquidity → sharper swings

🔥 What’s Driving the Drop?

🛳 Iran Explosion: Blast at Bandar Abbas port, key oil hub on the Strait of Hormuz. Risk-off sentiment hits crypto.🇺🇸 U.S. Political Risk: Brief government shutdown over funding delays adds macro uncertainty.💹 Crypto-Specific Pressure: Negative ETF flows, derivatives leverage unwind, and public disputes among industry leaders shake confidence.

📊 Current Range: $80K–$82K
Buyers or sellers will decide if support holds or BTC slides further.Quiet weekend trading = higher volatility.

💬 Community Question:

Are you buying the dip or staying defensive this weekend? 🤔

✨ Takeaway:

Global events + crypto uncertainty = BTC under pressure. Keep an eye on $80K support, traders!

#bitcoincrash 🚨 #CryptoAlert ⚡ #btcupdates2024 📉 #CryptoDip 💥 #GeopoliticsHitsCrypto 🌍

Good afternoon my dear friend,

Looking at Bitcoin on the daily timeframe we now see a confirmation of MA200 as resistance. While in late September there was a fake breakout, this isn't the case this time around.

Yesterday we can see Bitcoin making an attempt to move higher —BTCUSD tried to move above MA200 but failed. The session ended with a long upper wick and closing at the sessions low, a very strong negative candle.

We have a short-term lower high and MA200 confirmed as resistance. These simple signals indicate that Bitcoin is ready to continue lower in the days, weeks and months to come.

Thank you for reading.

Remember to leave a comment with your thoughts, questions and opinions.
Insults and personal attacks are also welcome and tolerated, we are all adults.

Namaste.
$BTC

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Asian markets roared higher and gold notched another record following another round of Chinese fiscal and monetary stimulus.
Bitcoin climbed above $64,000 in early U.S. trading hours ahead of a number of Fed speakers, including Chairman Jerome Powell, and after China's Politburo reportedly pledged continuing support to that country's economy and markets.Bitcoin could see increased interest from retail and institutional investors following the approval of options trading on Blackrock's IBIT.
Bitcoin (BTC) is again setting its sights on the $65,000 level not touched since the first week in August, with a speech later today from Federal Reserve Chair Jerome Powell potentially the next catalyst.
“The market will be following Powell’s speech closely for indications of any shifts in sentiment following last Thursday’s FOMC press conference, which signaled the potential for further easing,” traders at Singapore-based QCP Capital said in a broadcast message. The Fed Chair, however, did not comment on monetary policy or the economic outlook.

The Fed announced its first round of cuts last week - leading to risk assets such as bitcoin surging - and traders expect a 62% chance of an additional 50 basis point reduction in November, according to the CME FedWatch Tool.
Gold notched another in what's become a series of record highs of late, climbing nearly 1% to above $2,700 per ounce. China is reportedly mulling a $142 billion capital injection into its banking system, along with a number of other stimulus measures. The Shanghai Composite soared another 3.6% and is on track for its best week in a decade. U.S. stock index futures are ahead about 1%.
Bitcoin’s appeal is starting to grow among retail and professional investors alike. Data from SoSoValue shows that the total daily net inflows cracked $100 million for the second day in a row for the BTC ETFs, marking a five-day streak of positive net inflows for the funds.
On the other hand, retail bitcoin investors have accumulated 35,000 BTC in the past 30 days, highlighting increased confidence and participation from smaller holders.
Meanwhile, some say the newly-approved options on Blackrock’s Bitcoin Trust (IBIT) has primed BTC for further gains ahead.

“The approval would increase liquidity and investor participation in the Bitcoin market, marking a further step toward broader institutional adoption,” onchain analysis firm CryptoQuant shared in a note with CoinDesk. “Indeed, Bitcoin options on the CME recorded a fresh high open interest of almost half a billion on March 12, 2024, growing by almost five-fold from their maximum level in 2023.”
Source:Coindesk.com
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Coinbase has released internal Federal Deposit Insurance Corporation (FDIC) communications indicating that the agency may have deliberately limited U.S. banks' involvement with cryptocurrency businesses in 2022. The documents, obtained through a legal challenge and made public on Friday, include letters where the FDIC reportedly instructed banks to "pause all crypto asset-related activity."
These directives allegedly caused delays or halted banks' plans to offer crypto services due to unclear compliance requirements. Coinbase argues that this reveals a coordinated effort to restrict banking access for legitimate crypto businesses, a practice some in the industry refer to as "Operation Chokepoint 2.0."
The strained relationship between crypto firms and U.S. banks has been an ongoing issue, with banks hesitant to engage due to regulatory ambiguity and potential risks. Without clear guidelines, many banks avoid the sector, creating hurdles for crypto businesses that rely on traditional banking services.
Coinbase's Chief Legal Officer, Paul Grewal, stated that the lack of formal crypto guidelines allows regulators to impose informal restrictions, effectively isolating the crypto industry from mainstream financial services. He urged for clearer policies to ensure that law-abiding American businesses can access banking services without undue government interference.
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