Revolut Users Experience Unexpected Crypto Price Collapse

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 5 hours ago

Should l Buy BTC?

Price Anomaly: Bitcoin's price unexpectedly dropped to $39,900 on Friday, with some users receiving alerts as low as $0.02, causing confusion among users reliant on the platform and highlighting potential risks in data handling.
Technical Glitch Investigation: Revolut's customer service indicated that the app experienced temporary disruptions, with the technical team working to rectify the issue, suggesting the incident may stem from a data relay malfunction or liquidity gap, underscoring risks tied to external data dependencies.
Market Stability: Despite the price fluctuations on Revolut, major cryptocurrency exchanges like CoinMarketCap and CoinGecko reported stable readings, indicating the issue's isolated nature and alleviating user panic.
Importance of Transparency: Marc Tillement from Pyth Data Association emphasized that reliable pricing infrastructure is crucial for maintaining investor confidence, as any inaccurate price feed can significantly sway market sentiment in an increasingly interconnected landscape.

Get Real-Time Alerts for Any Crypto Movement

Monitor assets like BTC with instant alerts on price breakouts and whale movements. Don't let a 24/7 market leave you behind.

Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 3 indicators are flashing buy, while 0 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bitcoin (BTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	67093.517	71015.518	75005.997	78927.998	82918.477	86840.478	90830.957
Fibonacci	71015.518	74038.086	75905.431	78927.998	81950.566	83817.911	86840.478

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

GET FREE REAL TIME NOTIFICATIONS

Stock Monitor for BTC?

Get Started Free

FREE STOCK RECOMMENDATIONS DAILY

Stock Bullish Tomorrow

Get Started Free

70% BACKTESTED ACCURACY!

Should I Buy BTC?

Get Started Free