Bitcoin Price Prediction as Recent Decline Triggers Largest Bull Liquidation in 3 Months – Is a Rebound Imminent?
In recent financial news, Bitcoin (BTC) has witnessed a significant fluctuation in its market value, drawing attention to its latest price movements and the implications for investors and the cryptocurrency market as a whole. Despite a recent decline that triggered the largest bull liquidation in three months, Bitcoin is showing signs of resilience.
As of Sunday, it is trading at $36,538, marking nearly 0.50% increase. This comes alongside noteworthy developments, such as luxury car manufacturer Ferrari announcing that it will accept Bitcoin as a payment method for car sales in the United States.
Additionally, there’s a growing interest in South Korea, where cryptocurrency premiums are rising, with Bitcoin trading nearly $1,300 above the global average. Meanwhile, the balance of Bitcoin held by whales has reached a new high, indicating a potential shift in market dynamics and investor confidence.
This confluence of events raises the question: Is a Bitcoin rebound on the horizon?
Through a collaboration with BitPay, Ferrari (NYSE: RACE) has ventured into the cryptocurrency space by accepting Bitcoin payments for its premium cars in the US.
This initiative, available at ten Ferrari dealerships and including vehicles like the Daytona SP3, Purosangue, and SF90 Stradale, indicates a potential trend of wider corporate adoption of digital currencies and a significant shift in luxury automobile sales.
Ferrari Begins to Take #Crypto as Payment for Cars in US: Reuters – Bloomberg https://t.co/pBhwYmLDJX
— Lacey
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