{"id":12534,"date":"2024-04-14T11:09:05","date_gmt":"2024-04-14T08:09:05","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoin-rebounds-to-64000-following-cryptocurrency-market-crash\/"},"modified":"2024-04-14T11:09:05","modified_gmt":"2024-04-14T08:09:05","slug":"bitcoin-rebounds-to-64000-following-cryptocurrency-market-crash","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-rebounds-to-64000-following-cryptocurrency-market-crash\/","title":{"rendered":"Bitcoin Rebounds to $64,000 Following Cryptocurrency Market Crash"},"content":{"rendered":"<p>On the evening of Saturday, April 13, the price of the leading cryptocurrency fell below $61,000 amid escalating tensions in the Middle East.<\/p>\n<p>The following day, digital gold recovered to levels above $64,000. At the time of writing, Bitcoin is trading at $64,600.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"640\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2024-04-14-v-10.31.17-1024x640.png\" alt=\"Snimok-ekrana-2024-04-14-v-10.31.17\" class=\"wp-image-230475\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2024-04-14-v-10.31.17-1024x640.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2024-04-14-v-10.31.17-300x188.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2024-04-14-v-10.31.17-768x480.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2024-04-14-v-10.31.17-1536x960.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2024-04-14-v-10.31.17-2048x1280.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">5-minute BTC\/USDT chart on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>The total cryptocurrency market capitalization stands at $2.45 trillion.<\/p>\n<p>Following Bitcoin, other digital assets also plummeted. Many of them partially recovered by the morning of April 14. Over the past 24 hours, XRP (-9.1%) and Dogecoin (-7.8%) suffered the most significant losses.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"591\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2024-04-14-v-10.35.20-1024x591.png\" alt=\"Snimok-ekrana-2024-04-14-v-10.35.20\" class=\"wp-image-230476\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2024-04-14-v-10.35.20-1024x591.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2024-04-14-v-10.35.20-300x173.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2024-04-14-v-10.35.20-768x443.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2024-04-14-v-10.35.20-1536x886.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2024-04-14-v-10.35.20-2048x1181.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>.<\/figcaption><\/figure>\n<p>According to <a href=\"https:\/\/www.coinglass.com\/LiquidationData\">Coinglass<\/a>, the liquidation volume over the past 24 hours reached $955 million, with $767 million in long positions.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"349\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2024-04-14-v-10.37.51-1024x349.png\" alt=\"Snimok-ekrana-2024-04-14-v-10.37.51\" class=\"wp-image-230477\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2024-04-14-v-10.37.51-1024x349.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2024-04-14-v-10.37.51-300x102.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2024-04-14-v-10.37.51-768x262.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2024-04-14-v-10.37.51-1536x524.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2024-04-14-v-10.37.51-2048x699.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Liquidation map. Data: Coinglass.<\/figcaption><\/figure>\n<p>Julio Moreno, head of research at CryptoQuant, stated the necessity of the current cryptocurrency market crash.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">This price sell-off is needed to reset traders unrealized profits to zero, typically a bottom signal in bull markets.<\/p>\n<p>After today\u2019s sell off, traders\u2019 unrealized profits (purple area) are at the lowest since early February (10%).<\/p>\n<p>Moreover, prices are nearer to the trader\u2019s\u2026 <a href=\"https:\/\/t.co\/qlcOHdGeFv\">pic.twitter.com\/qlcOHdGeFv<\/a><\/p>\n<p>\u2014 Julio Moreno (@jjcmoreno) <a href=\"https:\/\/twitter.com\/jjcmoreno\/status\/1779369806375841869?ref_src=twsrc%5Etfw\">April 14, 2024<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u201cThis sell-off is necessary to reset traders&#8217; unrealized profits to zero \u2014 typically a bottom signal in bull markets. After today\u2019s sell-off, traders\u2019 unrealized profits (purple area) are at the lowest since February (10%),\u201d he wrote.<\/cite><\/p><\/blockquote>\n<p>MicroStrategy founder Michael Saylor briefly emphasized that \u201cchaos is good for Bitcoin.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Chaos is good for <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a>.<\/p>\n<p>\u2014 Michael Saylor\u26a1\ufe0f (@saylor) <a href=\"https:\/\/twitter.com\/saylor\/status\/1779279505439248417?ref_src=twsrc%5Etfw\">April 13, 2024<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Peter Schiff, president of Euro Pacific Capital and a critic of the leading cryptocurrency, also noted the asset&#8217;s decline.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Bitcoin just flash crashed to just above $61K. That\u2019s just 26 ounces of gold. At its peak 2.5 years ago one <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> was worth 37 ounces of <a href=\"https:\/\/twitter.com\/hashtag\/gold?src=hash&#038;ref_src=twsrc%5Etfw\">#gold<\/a>. That\u2019s a decline of 30%. Digital Fool\u2019s Gold is clearly in a bear market when priced in real gold.<\/p>\n<p>\u2014 Peter Schiff (@PeterSchiff) <a href=\"https:\/\/twitter.com\/PeterSchiff\/status\/1779241855546241055?ref_src=twsrc%5Etfw\">April 13, 2024<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u201cBitcoin just crashed to just above $61,000. That\u2019s only 26 ounces of gold. At its peak 2.5 years ago, one Bitcoin was worth 37 ounces of gold. That\u2019s a decline of 30%. Digital Fool\u2019s Gold is clearly in a bear market when priced in real gold,\u201d he wrote.<\/cite><\/p><\/blockquote>\n<p>On the evening of April 12, the price of the leading cryptocurrency dropped to $65,000, but by the next morning, it had recovered to levels above $67,000.<\/p>\n<p>Earlier, former BitMEX CEO Arthur Hayes suggested that Bitcoin could fall before and after the halving, while describing the event as a bullish catalyst for the market in the medium term.<\/p>\n<p>According to Ripple CEO Brad Garlinghouse, the total capitalization of digital assets will double in 2024, exceeding $5 trillion. His optimism is linked to spot Bitcoin ETFs and the halving.<\/p>\n<p>Previously, Morgan Creek Capital CEO Mark Yusko predicted that the leading cryptocurrency would soar to $150,000 by the end of the year. He is confident that Bitcoin\u2019s growth post-halving will be \u201cparabolic.\u201d<\/p>\n<p>Investor and billionaire Tim Draper made an even more bullish forecast for the price of digital gold \u2014 $250,000 by the end of the year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On the evening of Saturday, April 13, the price of the leading cryptocurrency fell below $61,000 amid escalating tensions in the Middle East. The following day, digital gold recovered to levels above $64,000. At the time of writing, Bitcoin is trading at $64,600. 5-minute BTC\/USDT chart on Binance. Data: TradingView. The total cryptocurrency market capitalization [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12533,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480],"class_list":["post-12534","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/12534","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=12534"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/12534\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/12533"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=12534"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=12534"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=12534"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}