Live Bitcoin Price News: BTC Flash Crash Sees Crypto Market Plummet, But Shiba Inu Rises 40%

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Bitcoin has suffered two flash crashes in the past 24 hours and is currently trading below $ 60,000, after hitting nearly $ 64,000 earlier this week.

Ethereum, Solana and Cardano also slipped 5-15% overnight amid a market-wide drop that was notably thwarted by the Shiba Inu and Baby Floki Billionaire coins.

Dogecoin’s fallout rose 42% and 69% respectively on Wednesday morning, according to the CoinMarketCap price index, with the former boosted by calls for its listing on the popular Robinhood trading app.

The gains were not enough to keep the overall crypto market from falling below $ 2.5 trillion.

Even though BTC has slipped in the past 24 hours, some analysts continue to predict new all-time highs before the end of 2021.

We’ll have all the latest expert price news, analysis, and predictions in our live crypto market coverage below.

Key PointsView Latest Update 1635335605 Bitcoin Price Crash Sees “More Buyers Than Sellers”

In the wake of the Bitcoin flash crash, which swept away most of the crypto market, we heard from crypto experts give us their thoughts on what caused it and what will follow.

Freddie Evans, a salesperson at GlobalBlock, a UK-based digital asset broker, said there were “so far more buyers than sellers in this morning’s session”, confirming the mentality ” buy the drop ”that prevailed on social networks this morning.

Here’s what he told The Independent:

Markets fell this morning after Bitcoin broke $ 60,000 support. Investors were expecting a correction as markets appeared to be overly leveraged.

The decline has been predicted by many analysts and provides an opportunity for those looking to buy the downside, meaning that this retracement may be short-lived and we may cross back above $ 60,000 before too much. long time. Almost all coins have gone down in the last 24 hours, but so far we have seen more buyers than sellers during this morning’s session.

Freddie Evans, GlobalBlock

Anthony CuthbertsonOctober 27, 2021 12:53 PM

Defiant bitcoin investors ‘buy the downside’

Bitcoin investors, traders and analysts are responding to the latest social media crash, with many defiantly describing it as a ‘flash sale’.

We write: “Buy the dip, thank me later”.

Meanwhile, pseudonymous Dutch analyst PlanB, whose widely touted bitcoin price prediction model puts the cryptocurrency on track for six digits this year, remains firmly discouraged by the decline.

Small traders and stoploss traders selling their holdings will ultimately be the big losers, he argues, while the “big market players” will grab bitcoin at a discount and hold it to new highs.

Anthony CuthbertsonOctober 27, 2021 10:53 AM

Bitcoin price crash in context

Bitcoin’s flash crash looks serious when viewing hourly charts, but that’s nothing new for a cryptocurrency accustomed to massive price swings.

Two similar declines in scale and timing were also seen last month, followed a few weeks later by a new all-time high. Some analysts view these declines as a signal that the market has turned bearish, while bullish analysts generally describe them simply as price corrections that allow BTC to consolidate its gains in preparation for another rise.

Here’s what the latest flash crash looks like when zooming out on bitcoin’s price movements over the past 12 months.

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Anthony CuthbertsonOctober 27, 2021 10:14 AM

1635323461BREAKING: Bitcoin price crash causes mini market collapse

Bitcoin continues to fall, falling below $ 59,000 and bringing its total losses to over $ 5,000.

This had a huge impact on the entire market, with several major cryptocurrencies down by more than 15% – you can find out more here.

Anthony CuthbertsonOctober 27, 2021 09:31

Bitcoin price drops below $ 60,000

The price of bitcoin fell below $ 60,000 following two minor flash crashes on Wednesday morning.

It has now fallen by around $ 4,000 since yesterday, with blockchain data suggesting the price drop is a result of long-term BTC holders making profits after the recent all-time high.

Bitcoin briefly fell below $ 60,000 last week but immediately rebounded, so the next few hours will prove to be critical in determining whether or not it has found solid resistance at that level.

Anthony CuthbertsonOctober 27, 2021 9:05 AM

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Bitcoin has lost more than 3% in value in the past 24 hours and is currently valued at almost $ 60,500.

Ethereum, cardano and solana have also fallen in price by around 1-3% from their values ​​the day before.

Among the coins even, while the dogecoin fell around 3%, the shiba inu coin has jumped over 16% in the past 24 hours.

The global crypto market has lost value by around 2% over the past day and is currently valued at around $ 2.57 trillion.

Cryptocurrency prices in the last 24 hours

(Market cap of coins)

Vishwam SankaranOctober 27, 2021 04:12

1635267552Is the bitcoin price prediction model still on track?

Bitcoin’s refusal to stray far from the $ 63,000 mark as October draws to a close with a forecast made in June.

Pseudonymous crypto analyst PlanB, who has gained over a million Twitter followers in the past year thanks to its popular Stock-to-Flow model, made a prediction four months ago on the price bitcoin for each remaining month. from 2021.

He predicted BTC’s closing price for August ($ 47,000) and September ($ 43,000) to a fraction of a percent, and puts the October price at $ 63,000. The last two months will be the busiest, according to his prediction, hitting six figures by Christmas.

You can read more about PlanB’s price prediction model here.

Anthony CuthbertsonOctober 26, 2021 5:59 PM

1635265006Bitcoin Expert Says “This Week Will Be The Key” For The Crypto Market

As bitcoin continues to hover around $ 60,000 to $ 64,000, a figure in the crypto industry has described next week as “key” in determining the direction of the market over the next few months.

Tim Frost, CEO of decentralized financial platform Yield App, told The Independent that market dynamics could shift in Ethereum’s favor over the next few days if BTC fails to capitalize on its October gains. .

“Ethereum may be at that mythical ‘turnaround’ point where it is moving higher than bitcoin in terms of price dynamics,” he says.

“This week will be the key to seeing if that actually happens, as it will be a question of whether or not bitcoin breaks its previous all-time high for more than two minutes. Bulls are still aiming for a triple-digit year end, although somewhere between $ 70,000 and $ 90,000 is probably more realistic, with three digits likely to occur near the end of the first quarter. “

Anthony CuthbertsonOctober 26, 2021 5:16 PM

1635243941Is China Reconsidering Bitcoin Ban?

One of the driving forces behind the dramatic drop in bitcoin prices between April and July was China’s crackdown on crypto mining.

Now reports suggest China may reconsider its ban, which cryptocurrency experts say could boost BTC’s price hike. An industry figure told The Independent that she “would almost certainly act as a major catalyst for the price of bitcoin and the crypto market as a whole.”

The collapse in China’s bitcoin mining share, as shown in this chart, reflected the decline in cryptocurrency prices in mid-2021 as miners were forced to shut down operations.

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So what is the likelihood of a reversal of this policy and could China introduce more favorable regulations for bitcoin trading? You can read the full story here.

Anthony CuthbertsonOctober 26, 2021 11:25 AM

Mastercard adopts bitcoin and crypto with new partnership

Mastercard has partnered with digital asset firm Bakkt to enable any bank or merchant in its network to integrate bitcoin and other cryptocurrencies into their products.

The partnership with Bakkt will allow banks, fintechs or traders to offer customers the ability to buy, view and hold cryptocurrencies, as well as earn crypto rewards.

Anthony CuthbertsonOctober 26, 2021 10:22 AM

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