{"id":649066,"date":"2024-10-22T00:00:18","date_gmt":"2024-10-22T00:00:18","guid":{"rendered":"https:\/\/uniquehot.com\/?p=649066"},"modified":"2024-10-21T13:40:25","modified_gmt":"2024-10-21T13:40:25","slug":"bitcoin-price-headed-for-35720","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-price-headed-for-35720\/","title":{"rendered":"Bitcoin Price Headed For $35,720? Why Muted Volume Could Trigger Major Crash"},"content":{"rendered":"

Alan Santana, a crypto analyst on TradingView, has<\/span> predicted<\/span><\/a> that the Bitcoin price could potentially experience a drastic<\/span> decline to new lows<\/span><\/a> around $35,720, driven by muted buying volume. The analyst has declared that the current state of the market is bearish, highlighting potential manipulation from whale investors.\u00a0<\/span><\/p>\n

Bitcoin Price Could Crash To $35,720<\/h2>\n

According to Santana, Bitcoin has witnessed 75 days of<\/span> bullish activity<\/span><\/a> but has not reached projected new price peaks, currently trading within a lower high below $70,000. While the cryptocurrency did hit an All-Time High (ATH) in March, surging past $73,000, Santana has concluded that the general<\/span> market has become relatively bearish<\/span><\/a>.\u00a0<\/span><\/p>\n

Related Reading: Dogecoin Flashes Sell Signal After 30% Rally \u2013 Time To Sell?<\/a><\/div>\n

He disclosed that most of the<\/span> Bitcoin price action<\/span><\/a> between August 5 and to present day is forming part of an inverted correction, which suggests that prices have been rising but without reaching new peaks.\u00a0<\/span><\/p>\n

\"Bitcoin
Bitcoin price<\/figcaption><\/figure>\n

Santana also declared that the current Bitcoin price action confirms that there is<\/span> no bullish momentum.<\/span><\/a> He attributed this lack of momentum to muted<\/span> whale activities<\/span><\/a>, highlighting that there are currently no buyers or buying volume at the current market level.<\/span><\/p>\n

Due to these bearish conditions, Santana has predicted that<\/span> Bitcoin could end up crashing<\/span><\/a> to $35,720, representing a massive 46.68% decrease to new lows. This also means that Bitcoin\u2019s price will drop by almost half, triggering panic and fear amongst retail and whale investors.<\/span><\/p>\n

Contrary to Santana\u2019s bearish analysis,<\/span> the price of Bitcoin<\/span><\/a> is up by 5.56% and trading at $68,203, according to CoinMarketCap. The cryptocurrency is gradually increasing to reach the $70,000 mark, driven by positive changes in market sentiment and the<\/span> historically bullish Q4<\/span><\/a>.\u00a0\u00a0<\/span><\/p>\n

Although Santana has stayed firm in his<\/span> bearish predictions of Bitcoin<\/span><\/a> due to limited buying power, the analyst has also received severe backlash from various crypto community members. One member criticized Santana\u2019s bearish Bitcoin prediction, suggesting that there were flaws in his analysis. Others accused the analyst of attempting to manipulate investors by using a Bitcoin chart from a Blofin exchange, which typically has lower transaction activity.\u00a0<\/span><\/p>\n

Bitcoin Market Manipulation And Bears<\/h2>\n

Despite the heat from crypto members, Santana believes that<\/span> market manipulation<\/span><\/a> has led to the current bearish price action in Bitcoin. The analyst highlights that Bitcoin\u2019s price can be artificially manipulated by large holders or so-called Whales.\u00a0<\/span><\/p>\n

Related Reading: FLOKI Breaks Out Of Downtrend: Analyst Predicts 200% Rally To New All-Time High<\/a><\/div>\n

He stated that these whales can<\/span> push the price of Bitcoin up<\/span><\/a> hoping that retail investors will dive into the market and buy, ultimately triggering a bullish wave. According to Santana, if there are no genuine<\/span> Bitcoin buyers<\/span><\/a>, the alleged manipulation could backfire, possibly leading to losses for said market manipulators.\u00a0<\/span><\/p>\n

Santana has revealed that retail investors are no longer easily fooled into buying Bitcoin at the top, showing more caution due to previous cycles of manipulation and hype. He also disclosed that buyers are not swayed by exaggerated predictions of substantial future gains by analysts, claiming that Bitcoin could reach $3,000,000.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC price falls below $68,000 | Source: BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Alan Santana, a crypto analyst on TradingView, has predicted that the Bitcoin price could potentially experience a drastic decline to new lows around $35,720, driven by muted buying volume. The analyst has declared that the current state of the market is bearish, highlighting potential manipulation from whale investors.\u00a0 Bitcoin Price Could Crash To $35,720 According to Santana, Bitcoin has witnessed 75 days of bullish activity but has not reached projected new price peaks, currently trading within a lower high below $70,000. While the cryptocurrency did hit an All-Time High (ATH) in March, surging past $73,000, Santana has concluded that the general market has become relatively bearish.\u00a0 Related Reading: Dogecoin Flashes Sell Signal After 30% Rally \u2013 Time To Sell? He disclosed that most of the Bitcoin price action between August 5 and to present day is forming part of an inverted correction, which suggests that prices have been rising but without reaching new peaks.\u00a0 Santana also declared that the current Bitcoin price action confirms that there is no bullish momentum. He attributed this lack of momentum to muted whale activities, highlighting that there are currently no buyers or buying volume at the current market level. Due to these bearish conditions, Santana has predicted that Bitcoin could end up crashing to $35,720, representing a massive 46.68% decrease to new lows. This also means that Bitcoin\u2019s price will drop by almost half, triggering panic and fear amongst retail and whale investors. Contrary to Santana\u2019s bearish analysis, the price of Bitcoin is up by 5.56% and trading at $68,203, according to CoinMarketCap. The cryptocurrency is gradually increasing to reach the $70,000 mark, driven by positive changes in market sentiment and the historically bullish Q4.\u00a0\u00a0 Although Santana has stayed firm in his bearish predictions of Bitcoin due to limited buying power, the analyst has also received severe backlash from various crypto community members. One member criticized Santana\u2019s bearish Bitcoin prediction, suggesting that there were flaws in his analysis. Others accused the analyst of attempting to manipulate investors by using a Bitcoin chart from a Blofin exchange, which typically has lower transaction activity.\u00a0 Bitcoin Market Manipulation And Bears Despite the heat from crypto members, Santana believes that market manipulation has led to the current bearish price action in Bitcoin. The analyst highlights that Bitcoin\u2019s price can be artificially manipulated by large holders or so-called Whales.\u00a0 Related Reading: FLOKI Breaks Out Of Downtrend: Analyst Predicts 200% Rally To New All-Time High He stated that these whales can push the price of Bitcoin up hoping that retail investors will dive into the market and buy, ultimately triggering a bullish wave. According to Santana, if there are no genuine Bitcoin buyers, the alleged manipulation could backfire, possibly leading to losses for said market manipulators.\u00a0 Santana has revealed that retail investors are no longer easily fooled into buying Bitcoin at the top, showing more caution due to previous cycles of manipulation and hype. He also disclosed that buyers are not swayed by exaggerated predictions of substantial future gains by analysts, claiming that Bitcoin could reach $3,000,000.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":521714,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[428,656,679,1119,89185,1122,1144,78790],"class_list":["post-649066","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\nBitcoin Price Headed For $35,720? 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Headed For $35,720? 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