- According to a report by Cointelegraph, the price of Bitcoin BTC/USD has been falling since May. Its value has shrunk by half since its April peak of $63,745.
- Analytics service Ecoinometrics, in its recent tweet, has said that this year's correction from its all-time highs is the second-longest in the bull market history. So bitcoin price may stay in the range of $30,000 for a while.
- In May, the price of bitcoin plummeted after Tesla Inc TSLA owner Elon Musk said that Tesla would no longer be accepting cryptocurrency payments.
- On June 22, Bitcoin plunged 10% after the Chinese government implemented sanctions on trading and mining the Bitcoin.
- According to the Ecoinometrics, 2013 saw 197 days between two all-time highs and Bitcoin can still go sideways for months.
- "This is one of the longest drawdowns Bitcoin has had to deal with during a post-halving bull market," says Ecoinometrics.
- The Cointelegraph reports that the Bitcoin price could go up if the $30,000 accumulation 'reset' continues.
- In a tweet, Statistician Willy Woo has said, "It's retail that drives Bitcoin bull markets. When they stop buying, that's a bear market warning. They haven't stopped buying,"
TSLATesla Inc
$260.163.76%
Edge Rankings
Momentum
93.53
Growth
67.69
Quality
95.01
Value
12.56
Price Trend
Short
Medium
Long
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
