{"id":9647,"date":"2023-05-16T19:18:02","date_gmt":"2023-05-16T23:18:02","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/bitcoin-prices-keep-slipping-a-correction-makes-sense-after-this-years-rally\/"},"modified":"2023-05-16T19:18:03","modified_gmt":"2023-05-16T23:18:03","slug":"bitcoin-prices-keep-slipping-a-correction-makes-sense-after-this-years-rally","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=9647","title":{"rendered":"Bitcoin Prices Keep Slipping. A Correction Makes Sense After This Year\u2019s Rally."},"content":{"rendered":"
\n
<\/p>\n
<\/p>\n
<\/div>\n<\/figure><\/div>\n

\n Bitcoin
\n and other cryptocurrencies slipped Tuesday, moving further from the peak of this year\u2019s rally as a correction from last month\u2019s peak continued.<\/p>\n

The price of Bitcoin has fallen 1% over the past 24 hours to $27,150, after briefly slipping below $27,000 in earlier trading. The largest crypto continues to languish below the psychologically and technically important $30,000 level, which Bitcoin breached in April for the first time since June 2022 but has since failed to consolidate near there, losing more ground over the past week. While Bitcoin remains up by some two-thirds this year, the rally may be losing steam and could be poised for a correction.<\/p>\n

\n

\u201cBitcoin appears to be consolidating around $27,000 in the short term but there remains downside risk after breaking this notable support level last week. It found support around $26,000 but may struggle to generate significant momentum higher,\u201d said Craig Erlam, an analyst at broker Oanda.<\/p>\n

Much of Bitcoin\u2019s rally so far this year has come amid expectations that the Federal Reserve is ending its campaign of tightening financial conditions, and could even cut interest rates later this year. A dramatic rise in interest rates largely was behind the selloff across digital assets last year because cryptos, like tech stocks, have proven sensitive to higher rates, which dampen demand for higher-risk investments.<\/p>\n

However, recent catalysts indicating lower inflation\u2014which may allow the Fed to ease off aggressive monetary policy\u2014have failed to move Bitcoin much, possibly indicating that bullish sentiment may be almost fully exhausted in the current environment. That comes despite the same economic indicators helping the tech-heavy
\n Nasdaq Composite
\n outperform the
\n Dow Jones Industrial Average
\n and
\n S&P 500.<\/span>\n <\/p>\n

\u201cIt\u2019s been a phenomenal run this year so a correction would make sense,\u201d said Oanda\u2019s Erlam. \u201cIf [Bitcoin] does break below $26,000 then $25,000 would be the next potential support level.\u201d<\/p>\n

Beyond Bitcoin,
\n Ether
\n \u2014the second-largest crypto\u2014lost less than 1% to $1,820. Smaller cryptos or altcoins exhibited more of the same, with
\n Cardano
\n and
\n Polygon
\n down 1% each. Memecoins were similarly in the red, with
\n Dogecoin
\n and
\n Shiba Inu
\n both shedding 1%.<\/p>\n

Write to Jack Denton at jack.denton@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin and other cryptocurrencies slipped Tuesday, moving further from the peak of this year\u2019s rally as a correction from last month\u2019s peak continued. The price of Bitcoin has fallen 1% over the past 24 hours to $27,150, after briefly slipping below $27,000 in earlier trading. The largest crypto continues to languish below the psychologically and […]<\/p>\n","protected":false},"author":1,"featured_media":7439,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-9647","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nBitcoin Prices Keep Slipping. A Correction Makes Sense After This Year\u2019s Rally. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Bitcoin and other cryptocurrencies slipped Tuesday, moving further from the peak of this year\u2019s rally as a correction from last month\u2019s peak continued.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=9647\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Prices Keep Slipping. A Correction Makes Sense After This Year\u2019s Rally. | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Bitcoin and other cryptocurrencies slipped Tuesday, moving further from the peak of this year\u2019s rally as a correction from last month\u2019s peak continued.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=9647\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-16T23:18:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-16T23:18:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/1683837506_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=9647#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=9647\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Bitcoin Prices Keep Slipping. A Correction Makes Sense After This Year\u2019s Rally.\",\"datePublished\":\"2023-05-16T23:18:02+00:00\",\"dateModified\":\"2023-05-16T23:18:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=9647\"},\"wordCount\":369,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=9647#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=9647\",\"url\":\"https:\/\/ifintechworld.com\/?p=9647\",\"name\":\"Bitcoin Prices Keep Slipping. A Correction Makes Sense After This Year\u2019s Rally. | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-05-16T23:18:02+00:00\",\"dateModified\":\"2023-05-16T23:18:03+00:00\",\"description\":\"Bitcoin and other cryptocurrencies slipped Tuesday, moving further from the peak of this year\u2019s rally as a correction from last month\u2019s peak continued.\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=9647#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=9647\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=9647#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bitcoin Prices Keep Slipping. A Correction Makes Sense After This Year\u2019s Rally.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Bitcoin Prices Keep Slipping. A Correction Makes Sense After This Year\u2019s Rally. | iFintechWorld","description":"Bitcoin and other cryptocurrencies slipped Tuesday, moving further from the peak of this year\u2019s rally as a correction from last month\u2019s peak continued.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=9647","og_locale":"en_US","og_type":"article","og_title":"Bitcoin Prices Keep Slipping. A Correction Makes Sense After This Year\u2019s Rally. | iFintechWorld","og_description":"Bitcoin and other cryptocurrencies slipped Tuesday, moving further from the peak of this year\u2019s rally as a correction from last month\u2019s peak continued.","og_url":"https:\/\/ifintechworld.com\/?p=9647","og_site_name":"iFintechWorld","article_published_time":"2023-05-16T23:18:02+00:00","article_modified_time":"2023-05-16T23:18:03+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/1683837506_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=9647#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=9647"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Bitcoin Prices Keep Slipping. A Correction Makes Sense After This Year\u2019s Rally.","datePublished":"2023-05-16T23:18:02+00:00","dateModified":"2023-05-16T23:18:03+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=9647"},"wordCount":369,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=9647#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=9647","url":"https:\/\/ifintechworld.com\/?p=9647","name":"Bitcoin Prices Keep Slipping. A Correction Makes Sense After This Year\u2019s Rally. | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-05-16T23:18:02+00:00","dateModified":"2023-05-16T23:18:03+00:00","description":"Bitcoin and other cryptocurrencies slipped Tuesday, moving further from the peak of this year\u2019s rally as a correction from last month\u2019s peak continued.","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=9647#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=9647"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=9647#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Bitcoin Prices Keep Slipping. A Correction Makes Sense After This Year\u2019s Rally."}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/9647","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9647"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/9647\/revisions"}],"predecessor-version":[{"id":9648,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/9647\/revisions\/9648"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/7439"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9647"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9647"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}