NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: XRP Projected To Reach $8 By 2026: Standard Chartered Identifies Two Major Catalysts
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: XRP Projected To Reach $8 By 2026: Standard Chartered Identifies Two Major Catalysts

Bitcoin Seen Dropping To $10,000, This Asset Management Co-Founder Predicts

Reynaldo Marquez
Reynaldo Marquez
Last Updated: June 11, 2024 2:31 pm
2 mins read
Bitcoin bearish

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

[vc_row][vc_column][vc_column_text]Bitcoin returned to the bottom of its current range and might see further downside pressure in the coming days. The cryptocurrency is still recovering from the collapse of FTX, the former second major crypto exchange in the world, and the contagion unleashed in the sector. 

Related Reading

Ethereum

Ethereum Tries To Keep Luster As ETH Moves To Narrower Trading Range

3 years ago

As of this writing, Bitcoin has recorded a spike in selling pressure. The cryptocurrency is trading at $16,200 with a 2% loss in the last 24 hours. Other assets in the crypto top 10 record similar price action, but the majority preserves profits from last week. 

Bitcoin price BTC BTCUSDT
BTC’s price moving sideways on the daily chart. Source: BTCUSDT Tradingview

Bitcoin Can Crash To Its 2020 Levels Amid FTX’s Collapse

A report from Bloomberg claims some institutional investors are bearish on Bitcoin. Mark Mobius, experienced fund manager and founder of Mobius Capital, believes Bitcoin might drop to $10,000 in the medium term. 

The fund manager claims the crypto industry might suffer from more contagion. Since the crypto exchange filed for bankruptcy, several companies halted operations. The Digital Currency Group (DCG) company, Genesis, is a prominent case. 

The company stopped accepting withdrawal requests from its customers and is rushing to raise capital to prevent bankruptcy. The situation has led many to speculate about the solvency of DCG. The rumors are contributing to the uncertainty in the crypto market. 

In this context, the price of Bitcoin and other assets is trending sideways. BTC will likely follow this trend for the coming weeks. Mobius classified the current environment as “too dangerous” to invest any of his clients’ money. 

Despite the current market conditions and FTX’s collapse, the fund manager believes crypto will have a permanent role in global finances, hinting at a long-term bullish bias: 

But crypto is here to stay as there are several investors who still have faith in it. It’s amazing how Bitcoin prices have held up.

Bitcoin Options Players Expect Doom For December

Further data provided by Bloomberg, based on the options platform Deribit, indicates a significant open interest leaning toward the put side (sell contracts) for December. By the end of 2022, many investors are expecting Bitcoin to gravitate around $10,000. 

However, this data can also be interpreted as many investors hedging their spot-long positions. Investors buy Bitcoin on exchanges, and to protect against potential downside pressure, they purchase put contracts. 

Related Reading

Bitcoin Cash Price

BCH Price: Investors May Not Want To Go Long Yet On BCH – Here’s Why

3 years ago

NewsBTC reported that many investors are aiming for Bitcoin at $30,000 by the end of the year. In that sense, the price of Bitcoin might trend higher or lower without impacting these investors’ portfolios. As seen below, the max pain price is $20,000; this price could be the December target, most likely. 

Bitcoin BTC BTCUSDT Chart 3
BTC Options’ Open Interest for the December 30th expiry. Source: Deribit

[/vc_column_text][/vc_column][/vc_row]

Tweet123Share196ShareSend
Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin

What Happens If The Bitcoin Price Closes 2025 In The Red? Analyst Answers

Bitcoin is heading into the final stretch of 2025 with an unusual setup. Despite printing a new all-time high in...

Sandra White 3 hours ago

Bitcoin Hyper預售價格調升24小時倒數 Layer-2敘事在2026年前夕勢頭強勁

Bitcoin Hyper (HYPER) 是一個 Layer-2 網絡,旨在擴展比特幣的效用,同時保留其作為主要經濟資產的角色 。該網絡利用 Solana 虛擬機 (SVM) 實現快速且低成本的執行...

newsbtc 3 hours ago
Bitcoin Price Attempts Rebound

Bitcoin Price Resists Breakdown, Support Level Holds—for Now

Bitcoin price trimmed all gains and dived below $88,000. BTC is now recovering losses from the $86,700 support but faces...

Aayush Jindal 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

NFT, crypto

Crypto Hacks Swipe Nearly $3 Billion In 2025 Despite Fewer Attacks – Report

Rubmar Garcia 51 minutes ago
Bitcoin price news

Bitcoin Risks A Year-Long Bear Market If This Happens: On-Chain Data

Jake Simmons 1 hour ago
Strategy

Could A Bitcoin Drop To $74,000 Spell Bankruptcy For Strategy? Top Analysts Respond

Ronaldo Marquez 2 hours ago

Premium Sponsors

Press Releases

  • ChatGPT dự đoán giá Bitcoin năm 2026

    ChatGPT dự đoán giá Bitcoin năm 2026 khi vàng và...

    19 hours ago
  • Best Meme Coins To Buy For 10x Returns In 2026

    Những Meme coin tiềm năng nên mua để đạt lợi...

    19 hours ago
  • Toobit Futures Upgrades TradingView Integration with 8-Chart Layout and 18 Chart Types

    Toobit Futures Upgrades TradingView Integration with...

    19 hours ago
  • Các đợt presale crypto tốt nhất, 5 các đồng...

    19 hours ago
  • Best Altcoin to Buy Right Now

    Altcoin tốt nhất nên mua trước đêm Giao thừa...

    19 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.