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Bitcoin lunch: Price BTC and crypto is falling, why? Bulls and expectations

Meanwhile, it’s time again for the last Bitcoin lunch of the week. We take a look at the live Bitcoin price and the prices of the top 25 crypto. Why are prices falling? Then we look at what institutional investors are doing. We conclude with the Bitcoin weekly forecast.

Of course, we’ll bring you up to speed first with the live Bitcoin price and the prices of the top 25 crypto.

Live Bitcoin price and prices top 25 crypto drop

At the time of writing, the live Bitcoin price is quoting EUR 37,111.47 ($40,160.27). This is 2.43% lower than during our Bitcoin lunch yesterday.

The prices of the top 25 crypto are also down slightly, although there are exceptions. The biggest gain today is currently for Ripple (XRP), which is trading +6.65%. The biggest loss of the day so far is for Near Protocol (NEAR) at -8.63%. Of course, on the site of you can analyze all live crypto prices 24 hours a day and thus also throughout the Easter weekend.

Why is the Bitcoin price falling?

According to experts, the decline in the Bitcoin price is mainly due to the rising popularity of U.S. Bond Yields and technical analysis.

With U.S. Bond Yields becoming more popular, this indicates that investors are looking for investments with less risk. The fear of inflation and recession may be to blame. One possibility is that they are hedging against a potentially drastic interest rate decision by the Fed. Indeed, the next FOM meeting (on May 3 and 4) is fast approaching.

Short-term technical BTC indicators are also bearish

With the price drop, short-term technical indicators are also changing. For example, we see that Bitcoin’s price decline is causing a so-called bearish engulfing candlestick. The MACD and RSI are also declining, indicating further price decline in the short term. In conclusion, the Bitcoin price seems to be moving in the final phase of a 3-fold correction wave.

Institutional investors maintain confidence in Bitcoin

In the medium (long) term, experts say the outlook is still bullish. This is also reflected in the transactions of institutional investors.

For example, we see that they are increasingly delisting Bitcoin and storing it in private wallets. We see this in the overview below from on-chain metrics specialist Glassnode.

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📊 Daily On-Chain Exchange Flow#Bitcoin $BTC
➡ $972.2M in
⬅ $1.9B out
📉 Net flow: -$926.2M#Ethereum $ETH
➡ $618.8M in
⬅ $441.5M out
📈 Net flow: +$177.3M#Tether (ERC20) $USDT
➡ $666.8M in
⬅ $541.3M out
📈 Net flow: +$125.5M

– glassnode alerts (@glassnodealerts) April 15, 2022

The exodus reduces the liquidity of stock exchanges, creating a price boosting effect. Investors therefore see large outflows as positive.

Institutional investors themselves are also expressing confidence. For example, in a letter to investors, pioneer MicroStrategy CEO Michael Saylor informed them that the company plans to purchase more Bitcoin. You can read the entire letter here.

Bitcoin price forecast for Easter and the coming week

Despite the disappointing week, analysts remain positive. Thus, they foresee a bullish rally for the coming week once the current correction is completed.

Based on the analyses, the bottom of that correction is likely to be between $37,800 and $37,600. When the bottom is reached, there is room for a so-called bullish reversal. Given all the bullish signals based on the longer-term technical analyses, this would also be obvious.

As long as the Bitcoin price does not drop below $34,752, analysts predict that a strong rally could take place next week, with $550,000 as the target. How they come to this is shown in the video analysis below.

Personally, we are a little more cautious. Based on the technical analyses, a bullish correction would be obvious, but for now the market is not responding convincingly to the succession of bull signals.

In addition, both this week and next week are “broken” trading weeks. Today, in connection with Good Friday, financial markets are closed in both America and Europe. On Monday, the American stock markets do reopen, but Europe remains closed in connection with Easter Monday. This means that in the meantime the market is mainly ruled by private investors. These tend to be more cautious and react more quickly to impulses. So we anticipate a volatile Easter weekend.

Thereby, based on the economic calendar and cryptocurrency calendar, we see next week as a quiet trading week, with which the market seems especially susceptible to current developments. Thus, we are preparing for the opportunities to make money in an uncertain market.

Of course, we will follow the market developments with our Bitcoin and crypto updates. Of course, we wish you happy Easter in the meantime!

Want to stay up to date with the latest price developments?

You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly Monday morning price forecast might be a reading tip. “Please note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide on rational grounds if, when, what and how much you want to invest in.”