Significant bearish sentiments are currently surrounding the
Bitcoin market with concerns about a potential 'death cross' crash, price suppression warnings and declining demand and network activity. There's growing apprehension that Bitcoin could plunge to $86K. Amidst these, business intelligence company
MicroStrategy cuts down its workforce by 20%, but continues pursuing its Bitcoin buying spree with plans to raise $2B for more Bitcoin investments. Despite the ongoing market slump, they currently hold 478,740 BTC. New York bank Mellon has also stepped into the picture, holding $13,280,431 worth of Bitcoin Exchange-Traded Funds. With U.S. crypto task force focusing on a National Bitcoin Reserve,
Michael Saylor's Bitcoin bet has inspired various CEOs. Meanwhile, crypto market sees rebound as stocks hit all-time high. While there's uncertainty about Bitcoin's ongoing price consolidation, bullish sentiments are still brewing with one analyst standing firm on the $500K forecast. However, others warn of more pain to come if the price drops below $77K in 2025. The rise of
Bitcoin-Based DeFi indicates big potential despite uncertain price trends. Amid all these,
Texas Senate plans a hearing on establishing a Strategic Bitcoin reserve and research suggests a major shift in BTC ownership, hinting at new users in 2025.
BTC News Analytics from Sat, 15 Feb 2025 12:15:25 GMT to Wed, 19 Feb 2025 22:33:08 GMT -
Rating -3
- Innovation 4
- Information 5
- Rumor 3
