Cryptocurrency News Today TheBitTimes.com

Bitcoin (BTC) has plunged below $80,000 for the first time in weeks, sparking concern that the crypto bull cycle may be losing steam.  Over the weekend, BTC dropped as much as 11% to a 25-day low of $74,660 amid intensifying global trade tensions, following U.S. President Donald Trump’s announcement of steep new tariffs on key U.S. trading partners.  This broader macro shock triggered a global market rout, with the S&P 500 tumbling 6% on April 4, its worst performance since the pandemic-driven crash in March 2020 and nearly $300 billion in crypto liquidations over the weekend, mostly from overleveraged long positions. As of press time, the leading cryptocurrency is trading at $75,643, down more than 8% over the past 24 hours. BTC one-day price chart. Source: Finbold Is the Bitcoin bull market over? The recent downturn in Bitcoin’s price has reignited debate over whether the current bull cycle has already peaked. While price volatility rai...

Bitcoin’s price is on a see-saw swing in March as the fluctuation has hit a peak. It went from $86,000 to $81,000 and quickly dipped to the $76,000 range. BTC rebounded to the $81,000 level again on Wednesday after surging nearly 2% in the day’s trade. The flip-flop in price is making investors cautious about taking an entry position into the asset. The fears stem after the US stock market declined another 450 points on Tuesday, which could affect the cryptocurrency sector. Also Read: Dogecoin Has Dipped 50%: Buy the Dip To Become Rich? BTC: Bitcoin’s Recent Crash Resembles the 2017 Market Cycles Source: Watcher Guru Bill Barhydt, CEO of crypto firm Abra wrote that the recent fall resembles the 2017 market crash. Bitcoin had plunged 25% back then but recovered in value in less than a year. Bill wrote that BTC could fall 25% again and repeat its historical market corrections. He stated that investors need not fear the crash as BTC is following its cyclic pattern. Also R...