Bitcoin’s inability to hold above $40,000 has traders now targeting extreme lows in the $25,000 zone, a move that would be absolutely deadly for most altcoins.
The U.S. dollar index (DXY) turned down from its 20-year high on April 29 but that has not changed the bearish price action seen in Bitcoin (BTC) and the U.S. equity markets. Equities remain under pressure and this week, Amazon stock saw its biggest intraday drop since 2014 after uncertainty over the U.S. Federal Reserve’s tightening measures placed investor sentiment back into choppy waters.If Bitcoin extends its correction, on-chain analysis platform Whalemap believes that the $25,000 to $27,000 zone may be the best place “to go all-in” on Bitcoin.Long-term investors do not appear to be panicking over the current weakness in Bitcoin and on-chain data from CryptoQuant shows that the combined BTC reserves of 21 crypto exchanges has plummeted to levels not s
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