Is Bitcoin price going to crash again before halving? – perspective by CoinTelegraph
Bitcoin (BTC) stabilized at around $69,400 on April 10, two days after almost reaching its record high of $73,800. With less than 10 days left before the Bitcoin halving, will the previous all-time high price support level hold?
This marks Bitcoin's third failed attempt to jump decisively below its all-time high, reflecting traders' uncertainty near record levels, where profit-taking or increased selling pressure prevents further upward movement.
Bitcoin's back-to-back upside rejections increase its potential to undergo sharp price declines in the coming weeks.
Arthur Hayes, co-founder of BitMEX, predicts that April's Bitcoin halving, alongside strategies employed by the U.S. Federal Reserve and the Treasury Department, will trigger a "firesale" of crypto assets.
Hayes highlighted that the latter half of April could pose significant risks for volatile assets, a period marked by a decrease in liquidity due to U.S. tax payments, the commencement of quantitative tightening by the Fed, and the pending utilization of the Treasury's General Account (TGA).
