Global Bitcoin ATM Count Declines, Potentially Denting Bitcoin’s Value

Azeez Mustapha

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The global Bitcoin ATM count declines, potentially denting Bitcoin’s value. The number of active Bitcoin ATMs worldwide has fallen, potentially impacting Bitcoin’s price negatively. The United States and Canada dominate the market, with the U.S. operating over 30,000 machines and Canada about 3,000 machines.

 
Despite significant contributions from various countries in 2024 to recover the 38,000 ATMs lost in January 2023, over 300 ATMs went offline this month, ending a 10-month growth streak. The U.S. market saw a reduction of 302 ATMs, and Canada 28. The new installations in other countries have also caused a reduction to less than 300 units.

Key Bitcoin Levels To Watch – May 22

Global Bitcoin ATM Count Declines, Potentially Denting Bitcoin's Value

BTCUSD has bounced off a diagonal resistance. This is likely to cause a massive decline for a significant period.
 
As indicated by the Stochastic Oscillator, the market is now in an overbought state. The ongoing crash is likely to continue until the bullish order block at the demand zone of $50577.00 is reached.

BTCUSD Key Levels

Resistance Levels: $71980.00, $73836.00, $80000.00 
Support Levels: $54490, $50577.00, $43873.00

Bitcoin Metrics

Total Market Capitalization: $2.59T
Bitcoin Market Capitalization: $1.38T
Bitcoin Volume: $36.28B
Market Rank: #1

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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