Bitcoin Drops Below $52,000, While Ethereum Maintains Strength: What is Holding Back the BTC Price R

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Price Analysis

Bitcoin Drops Below $52,000, While Ethereum Maintains Strength: What is Holding Back the BTC Price Rally?

Author: Sahana Vibhute



Feb 21, 2024 10:57

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Story Highlights

Bitcoin faces rejection in an attempt to rise above $53,000 with a lack of momentum and a probable shift in the trader's sentiments



Despite the BTC price rally that has occurred in recent months, data suggests that traders have maintained their confidence.



Crypto markets are experiencing a significant change in their dynamics as the prices of the top two tokens, Bitcoin and Ethereum, are fluctuating in diverse directions. The Ethereum price marked a high of $3031 after a prolonged consolidation of over 2 years, which was expected to lift the momentum of the whole market. Unfortunately, with the advent of the bears, the Bitcoin price is experiencing significant upward pressure while ETH remains consistent.



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Why is Bitcoin facing a rise in selling volume? Will this weaken the ETH bulls?



One of the major reasons why the BTC price maintains a descending consolidation could be the enhanced activity of whales. If the whales accumulate, then the price tends to surge as the traders become hopeful of the upcoming trend. However, according to data from Santiment shared by a popular analyst, Ali, the whales may have become bearish on Bitcoin.





The above chart shows the addresses holding tokens ranging from 1000 to 10,000 BTC have sold over 30,000 BTC in the last 48 hours. The liquidation of more than $1.5 billion worth of BTC may signal the beginning of a distribution phase, which is a noteworthy movement within the market. The whales have been accumulating since the beginning of the year and have accumulated over 300,000 BTC, which assisted in the price rise from levels below $39,000 to the current highs.



Will the whale liquidation create a fresh bearish case for Bitcoin?



The Bitcoin price has soared over 35% since the start of the year and over 112% in the past 6 months, after a breakout from the consolidation. Despite this, the traders do not appear to have encountered a ‘FOMO’ condition as the interest in BTC did not convert into extreme greed. The data from Santiment indicates that the social volume over the asset has been considerably high but the lack of greed suggests the prevailing trend may continue.





The above chart displays the trader’s interest in BTC, which has been at decent levels since the beginning. The levels spiked when the spot Bitcoin ETF was approved but this failed to trap the market participants under FOMO. As a result, the Bitcoin price may continue to rise until social dominance spikes, indicating that the token has reached a local peak.



Bitcoin Ethereum Price Analysis

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Press Release

Algotech (ALGT) is the Best Coin to Buy Now Amid Stable Dogecoin (DOGE) and Shiba Inu’s (SHIB) Shib Magazine

Author: PR Manager



Feb 21, 2024 0:27

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Meme coins like Dogecoin and Shiba Inu have captured the market’s attention, but are they the best long-term investments? While DOGE shows some short-term gains, and SHIB has ambitious plans, a new player is making waves: Algotech (ALGT). This article explores why Algotech could be the smarter choice for your crypto portfolio.



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Dogecoin’s (DOGE) Price Up 1.84% Despite Lower Trading Volume



Dogecoin (DOGE) has seen some recent movement. While the long-term outlook of Dogecoin (DOGE) seems somewhat mixed with a technical score of 46 from InvestorsObserver, there are positive signs in the short term.



Over the past day, Dogecoin’s (DOGE) price has gone up 1.76%. While trading volume of Dogecoin (DOGE) is currently lower than usual, there’s still activity with nearly 800 million coins exchanged in the last 24 hours. As of now, one Dogecoin (DOGE) is worth around $0.088.



Remember, cryptocurrency is a volatile market, so these numbers can change quickly. But for now, Dogecoin (DOGE) seems to be showing some positive momentum.



Shiba Inu (SHIB) Aims for Big Success: Magazine Reveals Exciting Plans



Shiba Inu (SHIB) is making big news with its exciting plans shared in the recent Shib magazine. Instead of its original idea for “SHEboshis” NFTs, Shiba Inu (SHIB) is trying something new with “ERC-404,” a test token standard.



The Shiba Inu (SHIB) community wants to turn Shibarium, its layer-2 blockchain, into the “meme capital of the world.” This might attract other meme-based projects. Besides being a hub for memes, Shiba Inu’s (SHIB) Shibarium could become a “Network State” with its own rules and economy.



Currently, the Shiba Inu (SHIB) token is worth about $0.00000985. Shiba Inu (SHIB) is up 0.25% in the last 24 hours. This shows that the community is excited about these big plans.



Algotech (ALGT) Puts AI Trading Power in Your Hands (and It’s Selling Fast!)



Tired of emotional investing and market swings that leave you dizzy? Then ditch Dogecoin (DOGE) and Shiba Inu (SHIB). Buckle up, because Algotech (ALGT) is here to revolutionize the game. This futuristic platform uses cutting-edge machine learning and AI to help you trade like a pro, even if you’re a complete beginner.



Imagine having a team of algorithmic wizards analyzing the market 24/7, whispering sweet trading strategies in your ear. That’s what Algotech (ALGT) does. It offers a variety of battle-tested tactics for every market condition, whether the bulls are charging, the bears are mauling, or things are crabbing sideways.



But Algotech (ALGT) isn’t just about blind algorithms. The platform understands the human element. Furthermore, Algotech (ALGT) assesses your risk tolerance through clever tests and helps you make data-driven decisions, leaving emotional biases at the door.



Moreover, Algotech (ALGT) is experiencing a red-hot presale right now. The platform has already raked in over 11 million tokens, and investors are scrambling to get their hands on ALGT tokens before they blast off. At just $0.40 per token, it’s an opportunity you don’t want to miss.



Furthermore, this isn’t just about making money; it’s about joining a financial revolution. The algo trading market is projected to reach a staggering $3,675 billion by 2032, and Algotech (ALGT) is putting you in the driver’s seat. Don’t be left behind – claim your financial future with Algotech today!



You can find more details about this project:



Visit Algotech Presale



Join The Algotech Community



Disclaimer and Risk Warning

This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. The image used in this article is for informational purposes only and is provided to us by a third party. Coinpedia should not be held responsible for image copyright issues. Contact us if you have any issues or concerns. Readers should do their research before taking any actions related to the company.



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