{"id":163952,"date":"2024-04-01T12:49:29","date_gmt":"2024-04-01T12:49:29","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=163952"},"modified":"2024-04-01T12:49:32","modified_gmt":"2024-04-01T12:49:32","slug":"bitcoins-price-dips-below-70000-amidst-heightened-volatility-ahead-of-halving","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/bitcoins-price-dips-below-70000-amidst-heightened-volatility-ahead-of-halving\/","title":{"rendered":"Bitcoin’s Price Dips Below $70,000 Amidst Heightened Volatility Ahead of Halving"},"content":{"rendered":"
TL;DR<\/span><\/p>\n Bitcoin\u2019s<\/a> price has dipped below the $70,000 mark, stirring the market with heightened volatility as the cryptocurrency community braces for the upcoming halving event.<\/strong> This significant price movement comes amidst a backdrop of intense speculation and anticipation surrounding the halving, which is expected to occur later this month.<\/span><\/p>\n The halving event, a scheduled occurrence every four years, is a fundamental aspect of Bitcoin\u2019s design, intended to reduce the reward for mining new blocks by half. This mechanism effectively limits the supply of new bitcoins, thus influencing the asset\u2019s price.<\/strong> Historically, halving events have been associated with increased volatility and have often preceded substantial bullish trends in the cryptocurrency market.<\/span><\/p>\n Bitcoin has fallen below $70,000, a key level for the cryptocurrency. Market observers are watching to see how the upcoming halving event, which will reduce the supply of new Bitcoin, will affect its price. In the past 24 hours, Bitcoin has lost 1% and is now trading<\/a> at $69,800.<\/strong><\/span><\/p>\n Last week, Bitcoin\u2019s 30-day annualized realized volatility surged to a peak of 63.76%, maintaining a level above 60% as the week concluded, according to Glassnode\u2019s data<\/a>.<\/strong> This marks the most significant volatility rate observed since August of the previous year.<\/span><\/p>\n <\/p>\n\n
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\n<\/li>\n<\/ul>\nThe Role of Bitcoin ETFs in Shaping Market Sentiment<\/span><\/h2>\n