The Bitcoin price plunged below $85,000 and touched $82K before recovering to its current price level of $86,000. This is the first time since November that the BTC price has seen such a slump. Heightened crypto market volatility has also affected the altcoin space, and Cardano touched extreme lows yesterday, too.
The grim outlook of the current crypto market has made investors look towards emerging altcoins that are not speculative and will be able to withstand the market’s inherent volatility. With most altcoins following the BTC trajectory, investors want to welcome new blood into the crypto space. DTX Exchange is making noise as a hybrid trading platform whose token promises massive growth and an unmatched guarantee of profit-taking as soon as the platform goes mainstream.
Is the Bitcoin Price in Free Fall?
Senior crypto experts have predicted that the Bitcoin price could fall to $70K. This could be attributed to major US hedge funds exiting US BTC ETFs. The Bitcoin price has lost key support at $91K, and rebound attempts have been unsuccessful. The ByBit hack and other macroeconomic factors could have aided in pushing the Bitcoin price to this level.
US tech stocks dropped ahead of Nvidia’s earnings report, and investors became cautious towards risk assets like BTC. The Bitcoin price dropped almost 8% in a day, and over $1 billion in long positions were liquidated across exchanges. Experts suggest that BTC needs to capture the $90K level soon to pick up momentum.
The market was waiting for the new US administration to take some pro-crypto action, but that didn’t happen. There has been a lack of crypto adoption from the US government, and not much has been done to improve the public’s perception of cryptocurrencies like BTC. Wil market sentiment around BTC is edging towards economic fear; BTC holders are advised to hold on to their Bitcoin. Buying the dip would be the wise thing to do, and once the Bitcoin price enters the consolidation phase, it will gain momentum to reach $100K again.
Will the Cardano Price Drop Below $0.50 Amid Bearish Pressure?
The Cardano price is under pressure, and sellers dominate the market. There is news that Cardano (ADA) will drop below $0.6 as the Bitcoin slump has applied additional pressure on a bearish crypto market. The Cardano price fell 5.4% in a day and continues to decline.
Cardano will find support at the $0.6 psychological level, and it must quickly reclaim $0.67 to avoid further decline. Levels of liquidations are rising, and the subsequent volatility signals that the crypto market could be in for a long-term bear run.
An ADA ETF could drive adoption among institutional investors and hopefully help the Cardano price.
DTX Exchange Offers Stability in Volatile Market
These are dark times for the crypto market, and no one is making any money. The fall of the Bitcoin price is leading the market’s trajectory. If you dumped your holdings before the slump, you might have saved yourself from some losses and grief; otherwise, you’re still losing money as we speak. Savvy investors who invested in the DTX Exchange have already made an 800% return, and further profits are expected as soon as the DTX token is listed on Binance or Coinbase.
The DTX token is priced at $0.18, and the listing price is set to double at $0.36, offering 200% minimum gains to current participants. Even if you buy the token at this later stage of the presale, you have a confirmed chance to double your investment. The DTX token is powered by DTX’s hybrid trading platform that will reshape the current state of capital trading markets with its offering of 120,000 crypto and fiat assets.
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