{"id":521152,"date":"2023-02-27T13:00:00","date_gmt":"2023-02-27T13:00:00","guid":{"rendered":"https:\/\/uniquehot.com\/?p=521152"},"modified":"2024-06-11T08:03:44","modified_gmt":"2024-06-11T08:03:44","slug":"bitcoin-two-month-rally-slows-down-whats-next","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-two-month-rally-slows-down-whats-next\/","title":{"rendered":"Bitcoin Two-Month Rally Slows Down, What\u2019s Next?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Over the past month, Bitcoin has seen a significant uptrend of about 40%, starting from the beginning of the year. As a result, BTC pulled a massive bullish trend carrying the rest of the crypto market along with it as other altcoins have also surged more than 10% respectively.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">BTC is starting to bow to a bearish move following the bullish trend. In January, BTC barely had days with no bullish moves. However, since the beginning of February, BTC has had <\/span><a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/is-this-the-end-of-bitcoin-price-rally-top-analysts-share-their-views\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">breaks from the continuous rally<\/span><\/a><span style=\"font-weight: 400\"> up by only 1.3% in February as opposed to the nearly 50% seen last month.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Bitcoin Two-Month Rally Slows Down\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400\">February has proven to be a month for a BTC rally break as negative news hit the headline this month more than positive ones. The SEC began the month with a back-to-back crypto crackdown. Though at first, BTC and the rest of the crypto market showed no concern over the headline, however, the aftermath has started to take effect on the market.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">In the last 48 hours, BTC has suffered a toil from <\/span><span style=\"font-weight: 400\">higher-for-longer interest rates to damp inflation that has pushed it <\/span><a href=\"https:\/\/uniquehot.com\/news\/bitcoin-price-drops-below-23k\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">below the ranging $24,000 mark<\/span><\/a><span style=\"font-weight: 400\">. Besides that, the largest crypto by market cap has also experienced regulators\u2019 frightening opinions.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-whales-plummets-to-2019-lows-what-this-means-for-btc\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Whales Plummets To 2019 lows, What This Means For BTC<\/a><\/div>\n<p><span style=\"font-weight: 400\">In a meeting hosted by India under the G-20 Indian presidency on Friday, US Treasury Secretary Janet Yellen <\/span><a href=\"https:\/\/www.reuters.com\/business\/finance\/indias-push-regulate-crypto-gains-imf-us-support-g20-2023-02-25\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">highlighted<\/span><\/a><span style=\"font-weight: 400\"> some reasons for having to apply robust regulation on digital assets mentioning that though there won\u2019t be an outright ban on crypto, there would be a \u201cstrong regulatory framework.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">Furthermore, on Sunday, IMF managing director Kristalina Georgieva <\/span><a href=\"https:\/\/www.bloomberg.com\/news\/videos\/2023-02-27\/imf-on-more-regulations-for-private-cryptocurrencies-video\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">voiced a statement expressing<\/span><\/a><span style=\"font-weight: 400\"> that if crypto could begin to pose higher risks to financial stability, the idea of banning it shouldn\u2019t be completely ruled out.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Statements such as these including crackdowns from regulators such as the SEC have impacted BTC\u2019s recent bearish trend. Since the beginning of the month, BTC has only added about $1,500 to its value. The asset surged above the $25,000 mark once this month and didn\u2019t take long before beginning to immediately trade below it.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Overall, the asset has shown fizzling trend indicating a slowdown from its bullish uptick. Looking at the 1-day time frame, BTC seems to have support at $23,800. Should the asset plummet below that, we could see a continuous bearish trend from the largest crypto by market cap.<\/span><\/p>\n<figure style=\"width: 2768px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/gn732b9C\/\" alt=\"Bitcoin (BTC) price chart on TradingView\" width=\"2768\" height=\"1372\"><figcaption class=\"wp-caption-text\">Bitcoin is moving sideways on the 1-day chart. Source: BTC\/USDT on <a href=\"https:\/\/www.tradingview.com\/chart\/HSuSIPeM\/?symbol=BINANCE%3ABTCUSDT\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">In contrast, the chart also indicates liquidity to the upside just above $30,000. Should <\/span><a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-aims-upside-break-24k\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">BTC rise<\/span><\/a><span style=\"font-weight: 400\"> above its previous high of $25,000, the chances of seeing a spike to above $30,000 are significant.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/btc-down-2-as-1-8-billion-bitcoin-options-contract-expires-today\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">BTC Down 2% As $1.8 Billion Bitcoin Options Contract Expires Today<\/a><\/div>\n<h2><span style=\"font-weight: 400\">Crypto Market Follows Through<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Bitcoin is not the only asset in the market experiencing a slowdown from its rally. Ethereum has also experienced a slowdown <a href=\"https:\/\/uniquehot.com\/analysis\/eth\/ethereum-price-holds-strong-1600\/\" target=\"_blank\" rel=\"noopener \">after hitting $1,700<\/a> for the first time in four months. Solana has also fallen from its high of $26 seen on the 9th of this month to trade below $23, down by 6.6% in the past 30 days.<\/span><\/p>\n<p><span style=\"font-weight: 400\">This plummet comes after one of several downturns the Solana blockchain has been facing including the recent network outage which occurred during the weekend. So far, more than $1 billion has left Solana\u2019s market cap between February 9 and February 27.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Meanwhile, despite the slight bears here and there, <\/span><a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-decline-bearish-crossover-forms-metric\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">Bitcoin<\/span><\/a><span style=\"font-weight: 400\"> and other altcoins have started to pick up. In the last 24 hours, Bitcoin has risen 0.8%, Ethereum by 2.3% following its upcoming Shanghai launch, and Solana is up only 0.1%.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Featured image from Unsplash, Chart from TradingView.<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Over the past month, Bitcoin has seen a significant uptrend of about 40%, starting from the beginning of the year. As a result, BTC pulled a massive bullish trend carrying the rest of the crypto market along with it as other altcoins have also surged more than 10% respectively.\u00a0 BTC is starting to bow to a bearish move following the bullish trend. In January, BTC barely had days with no bullish moves. However, since the beginning of February, BTC has had breaks from the continuous rally up by only 1.3% in February as opposed to the nearly 50% seen last month.\u00a0 Bitcoin Two-Month Rally Slows Down\u00a0 February has proven to be a month for a BTC rally break as negative news hit the headline this month more than positive ones. The SEC began the month with a back-to-back crypto crackdown. Though at first, BTC and the rest of the crypto market showed no concern over the headline, however, the aftermath has started to take effect on the market.\u00a0 In the last 48 hours, BTC has suffered a toil from higher-for-longer interest rates to damp inflation that has pushed it below the ranging $24,000 mark. Besides that, the largest crypto by market cap has also experienced regulators\u2019 frightening opinions. Related Reading: Bitcoin Whales Plummets To 2019 lows, What This Means For BTC In a meeting hosted by India under the G-20 Indian presidency on Friday, US Treasury Secretary Janet Yellen highlighted some reasons for having to apply robust regulation on digital assets mentioning that though there won\u2019t be an outright ban on crypto, there would be a \u201cstrong regulatory framework.\u201d Furthermore, on Sunday, IMF managing director Kristalina Georgieva voiced a statement expressing that if crypto could begin to pose higher risks to financial stability, the idea of banning it shouldn\u2019t be completely ruled out.\u00a0 Statements such as these including crackdowns from regulators such as the SEC have impacted BTC\u2019s recent bearish trend. Since the beginning of the month, BTC has only added about $1,500 to its value. The asset surged above the $25,000 mark once this month and didn\u2019t take long before beginning to immediately trade below it.\u00a0 Overall, the asset has shown fizzling trend indicating a slowdown from its bullish uptick. Looking at the 1-day time frame, BTC seems to have support at $23,800. Should the asset plummet below that, we could see a continuous bearish trend from the largest crypto by market cap. In contrast, the chart also indicates liquidity to the upside just above $30,000. Should BTC rise above its previous high of $25,000, the chances of seeing a spike to above $30,000 are significant.\u00a0 Related Reading: BTC Down 2% As $1.8 Billion Bitcoin Options Contract Expires Today Crypto Market Follows Through Bitcoin is not the only asset in the market experiencing a slowdown from its rally. Ethereum has also experienced a slowdown after hitting $1,700 for the first time in four months. Solana has also fallen from its high of $26 seen on the 9th of this month to trade below $23, down by 6.6% in the past 30 days. This plummet comes after one of several downturns the Solana blockchain has been facing including the recent network outage which occurred during the weekend. So far, more than $1 billion has left Solana\u2019s market cap between February 9 and February 27.\u00a0 Meanwhile, despite the slight bears here and there, Bitcoin and other altcoins have started to pick up. In the last 24 hours, Bitcoin has risen 0.8%, Ethereum by 2.3% following its upcoming Shanghai launch, and Solana is up only 0.1%. Featured image from Unsplash, Chart from TradingView.<\/p>\n","protected":false},"author":580,"featured_media":515753,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[134,428,1119,8323,1946,12837,83626],"class_list":["post-521152","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoin","tag-bitcoin","tag-btc","tag-eth","tag-ethereum","tag-sol","tag-solana"],"acf":[],"yoast_head":"\n<title>Bitcoin Two-Month Rally Slows Down, What\u2019s Next?<\/title>\n<meta name=\"description\" content=\"Over the past month, Bitcoin has seen a significant uptrend of about 40%, starting from the beginning of the year. As a result, BTC pulled a massive Over the past month, Bitcoin has seen a significant uptrend up by 40% since the beginning of the year. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.\",\"sameAs\":[\"https:\/\/x.com\/0xEdyme\"],\"url\":\"https:\/\/uniquehot.com\/author\/samueledymeabayomi\/\"}]}<\/script>\n","yoast_head_json":{"title":"Bitcoin Two-Month Rally Slows Down, What\u2019s Next?","description":"Over the past month, Bitcoin has seen a significant uptrend of about 40%, starting from the beginning of the year. As a result, BTC pulled a massive Over the past month, Bitcoin has seen a significant uptrend up by 40% since the beginning of the year. BTC has pulled a massive bullish trend","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/uniquehot.com\/news\/bitcoin-two-month-rally-slows-down-whats-next\/","og_locale":"en_US","og_type":"article","og_title":"Bitcoin Two-Month Rally Slows Down, What\u2019s Next?","og_description":"Over the past month, Bitcoin has seen a significant uptrend of about 40%, starting from the beginning of the year. As a result, BTC pulled a massive Over the past month, Bitcoin has seen a significant uptrend up by 40% since the beginning of the year. 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As a result, BTC pulled a massive Over the past month, Bitcoin has seen a significant uptrend up by 40% since the beginning of the year. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/uniquehot.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Two-Month Rally Slows Down, What\u2019s Next?","url":"http:\/\/uniquehot.com\/news\/bitcoin-two-month-rally-slows-down-whats-next\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-two-month-rally-slows-down-whats-next\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/01\/Bitcoin.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/01\/Bitcoin.jpg?fit=2048%2C1256"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","bitcoin","btc","eth","ethereum","sol","solana"],"dateCreated":"2023-02-27T13:00:00Z","datePublished":"2023-02-27T13:00:00Z","dateModified":"2024-06-11T08:03:44Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Two-Month Rally Slows Down, What\\u2019s Next?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-two-month-rally-slows-down-whats-next\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-two-month-rally-slows-down-whats-next\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Bitcoin.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Bitcoin.jpg?fit=2048%2C1256\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"bitcoin\",\"btc\",\"eth\",\"ethereum\",\"sol\",\"solana\"],\"dateCreated\":\"2023-02-27T13:00:00Z\",\"datePublished\":\"2023-02-27T13:00:00Z\",\"dateModified\":\"2024-06-11T08:03:44Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/01\/Bitcoin.jpg?fit=2048%2C1256","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/521152"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=521152"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/521152\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/515753"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=521152"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=521152"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=521152"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}