Bitcoin (BTC) recently reached a new all-time high (ATH) of $93,477, as the leading digital asset inches closer to the highly anticipated $100,000 target. Notably, the ongoing price rally has seen relatively muted profit-taking, fueling hopes that BTC has further room to surge. Low Profit-Taking For Bitcoin In Current Cycle According to a recent report by Glassnode, the current BTC price momentum is primarily driven by strong spot demand and rising institutional interest. Particularly, the victory of Republican US presidential candidate Donald Trump has added optimism to the digital assets industry. Related Reading: Bitcoin Price Could Peak In 200 Days, Before US Recession In Mid-2025, Report Says The report highlights that over 95% of Bitcoin’s supply is currently in profit. However, despite the high proportion of profitable holders, profit-taking has remained relatively muted during this cycle. Historically, monthly profit realization has typically ranged between $30 and $50 billion during previous Bitcoin ATH cycles. The current price discovery phase has seen about $20.4 billion in realized profit. This relatively low profit-taking level in the current BTC ATH cycle suggests further room for the BTC price to rise, potentially reaching the $100,000 milestone before demand wanes. The chart below shows the cost basis of new BTC investors, along with upper and lower statistical bands. According to the report, during an ATH phase, BTC’s price repeatedly tests the upper bands as new investors enter the market at higher price points. As can be inferred from the above chart, BTC’s current spot price of $91,199 is just below its upper band of $94,900. Keeping track of price movement between these bands can show when the market price might be high enough to force existing holders to sell their holdings. Excess Leverage Must Be Flushed Before $100,000 BTC While BTC is trading less than 10% below the $100,000 level, industry experts opine that excess leverage must be flushed out before the top digital asset attempts to hit the 6-figure target. Related Reading: Bitcoin To $100,000 By February 2025? Analyst Explains Why Data from Coinglass shows that more than $718 million worth of crypto contracts were liquidated in the past 24 hours, impacting 202,074 traders. Notably, contract liquidations were split pretty evenly between longs and shorts – 49.93% vs 50.07%, respectively – indicating that despite the strong bullish sentiment, there is no clear trading advantage. Some industry leaders remain optimistic about BTC’s future price action. In October, the BTC mining firm CleanSpark CEO said that the premier digital asset may peak at $200,000 in the next 18 months. Similarly, BitMEX co-founder Arthur Hayes recently predicted that BTC may hit $1 million under the Trump administration. BTC trades at $91,199 at press time, up 3.9% in the past 24 hours. Featured image from Unsplash, Charts from Glassnode and TradingView.com
Bitcoin set a new all-time high yesterday, reaching $93,483, continuing its impressive rally without significant setbacks. Over the past nine days, the crypto leader has surged with minimal dips, not falling more than 5% during this bullish phase. This relentless price action has drawn widespread attention as Bitcoin defies expectations and resists any notable pullback. Related Reading: Chainlink Whales Waking Up – Data Shows Signs Of Accumulation Key data from CryptoQuant reveals that traders’ unrealized profit margins are climbing, indicating that the market may be nearing a short-term peak. High unrealized profit levels typically signal that a correction could be on the horizon as investors look to secure gains. However, given the current strength of Bitcoin’s price action, the timing and scale of any correction remain uncertain. With Bitcoin’s price momentum showing few signs of slowing down, the coming days will be crucial in determining whether the market can sustain these levels or if a healthy retrace is in store. Investors are closely watching for potential entry points and key support levels, knowing that even minor dips could trigger strong buying interest as Bitcoin’s bullish phase persists. Bitcoin Strong Move About To Pause? Bitcoin’s price action has been remarkable, surging 38% since the U.S. election and capturing widespread attention with its unrelenting bullish momentum. However, this aggressive rally may be approaching a temporary pause, as data hints at a potential correction. CryptoQuant’s head of research, Julio Moreno, recently shared a compelling chart highlighting Bitcoin traders’ unrealized profit margins, which have reached 47% — a level that has often preceded price pullbacks. High unrealized profit margins can indicate that traders are sitting on significant gains, raising the likelihood of profit-taking that could trigger a market cooldown. Moreno’s analysis notes that this metric tends to correlate with a heightened risk of a correction when it surpasses certain thresholds. For instance, prior peaks in March reached 69%, while December 2023 saw unrealized profits hit 48%, both instances that led to notable corrections shortly after. Still, the current 47% level suggests that, while caution may be warranted, Bitcoin’s bullish phase still has room to run. Past cycles demonstrate that the market has tolerated even higher unrealized profits before reversing. The data implies that while a pullback may be on the horizon, Bitcoin could continue its upward trend a bit longer before any significant cooling occurs. Related Reading: Dogecoin Could Target $2.4 If Price Aligns With Macro Pattern – Details In the coming days, investors will be watching closely for any signs of a consolidation phase or a potential retracement. Should Bitcoin maintain strong support levels, continuing this bull run remains plausible. However, if profit-taking intensifies, a correction could provide a healthy reset for Bitcoin to gather momentum for future gains. BTC Breaking ATH Almost Every Day Bitcoin has shattered its all-time high seven times over the past eight days, fueling a highly bullish sentiment across the market. Currently trading at $90,620 after peaking at $93,483, Bitcoin’s price action remains strong, signaling sustained buying momentum. This surge has set a notably optimistic tone, but a brief correction period could provide a necessary reset after such an extended upward push. Given the high buying pressure, a short-term pullback to establish a new market equilibrium would be a healthy development. This could allow Bitcoin to test lower demand levels and establish stronger support areas for its next leg up. If profit-taking intensifies in the near term, BTC could revisit the $85,000 mark as it seeks to stabilize. Related Reading: Bitcoin Weekly RSI Entering Power Zone – Last Time BTC Soared 80% In the coming days, investors will likely watch for this potential consolidation phase to gauge Bitcoin’s resilience. A successful retest of support around $85,000 would reaffirm confidence in the ongoing bull market, providing a stronger foundation for Bitcoin to push toward even higher levels. Overall, while the trend remains bullish, a balanced correction may be just what the market needs to maintain its momentum over the long term. Featured image from Dall-E, chart from TradingView
Bitcoin reached a new all-time high yesterday at $90,243, fueled by a week of intense buying pressure. This latest surge has sparked excitement across the crypto market, with many speculating that the next target could be even higher. However, as BTC approaches this milestone, we may see a brief consolidation phase before the next upward […]
Bitcoin has reached a new all-time high of $90,243 following a week of relentless upward momentum. After days marked by euphoria and rapid gains, the price is now entering a consolidation phase, providing a much-needed pause for the market. Key data from CryptoQuant indicates moderate selling pressure is emerging, which may signal a brief pullback or stabilization below the $90,000 mark. Related Reading: Dogecoin Could Target $2.4 If Price Aligns With Macro Pattern – Details This week will be pivotal in determining Bitcoin’s next steps as traders and investors watch if BTC will hold near the $90,000 supply level or retreat to test support around $80,000. With strong market fundamentals and continued interest from bullish investors, the potential for another rally remains high. However, a short consolidation period could offer healthier groundwork for BTC’s long-term ascent. All eyes will be on whether Bitcoin can sustain its current levels or if this cooling-off phase will allow buyers to re-enter lower demand zones, setting the stage for the next major price move. Bitcoin Selling Pressure Still Far From Peak Levels Bitcoin has reached a local top after setting a fresh all-time high, signaling a potential pause in its recent surge. Analysts and investors are watching closely, as BTC has a history of making aggressive moves once it starts trending upward. Despite this bullish momentum, many are exercising caution, anticipating that Bitcoin might need time to consolidate before pushing higher. According to key data from CryptoQuant analyst Axel Adler, the market is now experiencing moderate selling pressure. Adler’s analysis points to a possible consolidation phase, as short-term holders take profits. He specifically examines the short-term holder realized profit and loss data, which reveals that the current selling pressure is relatively mild compared to historical peak selling periods. In Adler’s view, this moderate pressure suggests that BTC’s recent rally might not end. He highlights clusters of intense selling seen in previous peaks, marked as Clusters #1, #2, and #3 on his chart, showing levels of selling pressure significantly higher than what we see today. This data implies that while some profit-taking is underway, it’s nowhere near the intense levels seen at past tops. Related Reading: Bitcoin Weekly RSI Entering Power Zone – Last Time BTC Soared 80% As Bitcoin approaches consolidation, this subdued selling pressure could set the foundation for a more stable rally. Investors are eyeing this moment to gauge whether BTC will gather strength for the next leg up or continue cooling off, forming a solid base around current levels before another potential breakout. BTC Testing New Supply Levels (Again) Bitcoin has officially entered a much-anticipated price discovery phase, recently marking a new all-time high of $90,243. Currently trading around $87,500, BTC has experienced days of intense buying pressure and record-setting highs. However, the market may see a period of consolidation below the $90,000 threshold as traders assess new demand levels, potentially around $80,000. The coming days will be critical in determining BTC’s short-term path. If Bitcoin holds above the $85,000 mark, this would signal resilience and likely encourage a push toward higher supply zones as bullish momentum builds. However, if BTC loses this level, a retracement to lower demand of nearly $82,000 could come into play, allowing for a more stable foundation before the next rally attempt. Related Reading: Ethereum Weekly Volume Hits $60 Billion As ETH Aims For Yearly Highs Analysts view this consolidation phase as necessary after BTC’s rapid ascent, as it allows the market to establish support. Holding within the current range would signal strength, suggesting that BTC is well-positioned for further gains. Investors are now watching closely, gauging whether BTC will secure its recent gains or find a brief reset before aiming for new heights. Featured image from Dall-E, chart from TradingView
Bitcoin has shattered all-time highs six times in the past week, marking an explosive surge that’s captivated the crypto market. Rising over 32% in less than seven days, Bitcoin has now achieved a milestone by surpassing Silver’s market cap, solidifying its place as a dominant asset in the global financial landscape. Related Reading: Bitcoin Profitability […]
Bitcoin (BTC) has performed remarkably over the past week, surging 30% since the November 5 US election. The flagship crypto surpassed its March all-time high (ATH), recording a new high nearly every day for the last seven days. Bitfinex analysts noted that the market remains “relatively stable” despite increased speculative activity. Related Reading: Bitcoin Closing In On $80,000 For Record-Breaking Run After Trump Win Bitcoin ‘Fair Value’ Priced In At Higher Levels Following Donald Trump’s victory last Tuesday, the crypto market has seen a massive rally, surging to a market capitalization of $3.05 trillion. Bitcoin has led the post-election bullish run with a 30% price increase, nearing the $90,000 mark earlier today. According to Bitfinex Alpha report, the rally “highlights the positive reaction to the election outcome, with investors positioning themselves for potential economic stimulus and regulatory shifts.” During the March highs, BTC’s realized profit volume reached its peak of $3.1 billion. Since then, realized profit volumes have gradually decreased, “reaching an equilibrium.” As the report noted, there’s been a reset in supply and demand forces, which indicates, alongside the recent price surge, that “the market is now pricing in a higher ‘fair value’ for Bitcoin.” At the same time, the cryptocurrency continues its price discovery. Moreover, profit-taking above $70,000 has been significantly smaller than the past instances when Bitcoin traded above this range, despite a structural increase in profit-taking. Bitfinex analysts consider this to signal the “entry of a new wave of demand into the market,” backed up by Spot Bitcoin exchange-traded funds (ETFs) buying post-elections. Additionally, it suggests that fresh investor interest “could drive further upward momentum in the near term.” BTC Enters ‘A New Phase’ The report highlighted record-breaking BTC ETFs’ inflows, around $2.28 billion in three days. This performance represented a significant increase from the pre-election de-risking, which saw the crypto-based investment products record their second-largest single-day outflows. According to CoinShares data, Bitcoin ETFs closed the US election week with $1.8 billion in inflows and started this week with $1.1 billion in positive net flow. This performance displays a resurgence in demand for the flagship crypto as the market adjusts to BTC’s new price levels. Bitfinex analysts explained that from March to August, there was significant supply and insufficient sustained buying pressure to absorb it. The recent demand surge suggests a notable shift as buying interest is “absorbing selling pressure at all-time highs and stabilizing market dynamics: Now we appear to be entering into a new phase where the volume of profit-taking when BTC hits an all-time high is notably lower, given the amount of fresh demand entering the market post-election. This demand is helping to absorb the minor selling pressure still present, suggesting a healthier market environment and potential for further upward movement. Related Reading: Solana (SOL) Records 3-Year High As Price Hits $220, Is $260 Next? Meanwhile, Open Interest (OI) in Bitcoin futures and perpetual contracts reached ATH, hitting $45.43 billion. The report explains that this signals an increase in speculative activity but details that the market remains “relatively stable” since OI and BTC prices “are in equilibrium at elevated levels.” Ultimately, Bitfinex anticipates some consolidation soon, with a potential pullback to $77,000. A correction toward this level would close BTC’s CME gap and strengthen Bitcoin’s position to climb even higher levels. As of this writing, Bitcoin is trading at $86,225, a 5% increase in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Bitcoin experienced an explosive surge yesterday, with bulls driving the price to a new all-time high (gain) at $89,980. This relentless uptrend highlights growing optimism among investors as Bitcoin continues to break new ground. Renowned trader and analyst Cheds recently shared a compelling technical insight, noting that Bitcoin’s weekly Relative Strength Index (RSI) is nearing the “overbought” zone—historically a very bullish signal for BTC. Entering this zone could indicate heightened demand and momentum, suggesting further upside potential for Bitcoin in the near term. Related Reading: Ethereum Weekly Volume Hits $60 Billion As ETH Aims For Yearly Highs The coming days will be critical as investors anticipate a possible pullback to enter fresh positions at lower levels. However, the current price action remains bullish, showing few signs of weakness. If the price holds, it could fuel even greater buying interest, extending Bitcoin’s upward momentum. Cheds’ analysis underscores the strong technical setup for BTC, with RSI nearing a point that could attract more bullish attention. Investors will be watching closely, as any sustained movement in this high momentum phase may set the stage for Bitcoin’s next big leg up. Bitcoin Showing Strength Bitcoin has surged by over 32% in less than a week, with rapid, aggressive moves to new highs reflecting strong market sentiment. Such euphoria often precedes a correction, yet recent data indicates Bitcoin could sustain this upward momentum. Top trader and analyst Cheds recently shared a technical analysis on X, highlighting that Bitcoin’s weekly Relative Strength Index (RSI) is nearing the “power zone,” known as the overbought territory. Historically, this zone has signaled powerful bullish phases for BTC. The last time Bitcoin’s RSI reached similar levels, the price rallied from around $40,000 to $70,000, suggesting another substantial surge might be on the horizon. As Bitcoin enters this new bullish phase, a continuation of the uptrend seems likely, but it may not be a straightforward climb. Even in strong bull markets, BTC typically requires periodic pullbacks to consolidate and gather strength for further gains. A healthy retrace would provide necessary support levels and allow BTC to “refuel” before another upward push. This retracement is particularly important in avoiding overstretched conditions that could lead to a more severe correction. Related Reading: Ethereum Analyst Sees Altseason Potential As BTS Is Still Outpacing ETH – Time To Buy Altcoins? While the current bullish momentum points toward higher levels, traders should anticipate some fluctuations, which are part of a sustainable uptrend. Bitcoin’s ability to hold key support levels during any potential pullback will be crucial for maintaining the overall bullish structure. Bullish Price Action: Key Levels To Watch Bitcoin is trading at $88,000 following two days of unexpected price appreciation, defying analysts’ expectations of a pause around $77,000 and a possible pullback to the previous all-time high of $73,800. Instead, Bitcoin’s price has continued its upward momentum, bringing it closer to the significant psychological level of $90,000. Many investors consider this level a key supply zone where profit-taking could emerge. Despite the rapid climb, market sentiment remains highly bullish, and the price structure suggests that Bitcoin is still targeting the much-anticipated $100,000 milestone. The current price action reflects a strong bullish trend, but a retracement toward the $77,000 level could be a healthy move, allowing BTC to establish a robust demand base. Such a pullback would offer a consolidation phase, which is typical before another major leg-up in a sustained rally. Related Reading: Avalanche Nears Breakout – Top Analyst Sets $420 Target For AVAX This Cycle In the meantime, Bitcoin’s steady price action above recent highs is boosting investor confidence and keeping the overall outlook bullish, as BTC appears well-positioned for further gains. Featured image from Dall-E, chart from TradingView
Bitcoin has proven unstoppable, breaking all-time highs five times in six days and surging past the $82,000 mark. This latest milestone cements Bitcoin’s momentum as it pushes into uncharted territory, capturing the bulls’ attention and sparking new levels of optimism in the market. According to recent data from CryptoQuant, the number of bullish investors is growing rapidly, yet there’s reason to believe Bitcoin’s rally is far from over. Related Reading: Ethereum Analyst Sees Altseason Potential As BTS Is Still Outpacing ETH – Time To Buy Altcoins? CryptoQuant’s insights indicate that BTC remains significantly below its March 2024 peak in several key metrics, which suggests that Bitcoin may still have room to climb within this cycle. This gap highlights that, despite the impressive gains, Bitcoin could still be building toward a true cycle peak, with potential gains yet to be realized. As investor sentiment strengthens and Bitcoin shows resilience at each new level, the market watches closely for signs of continued upward momentum. The next few days will be crucial in determining just how far Bitcoin can go as it solidifies its place in the next phase of this bull run. Bitcoin Bulls Enter The Room Bitcoin bulls have returned after eight months of sideways consolidation and significant selling pressure. With Bitcoin now trading 11% above its previous all-time high from March, market sentiment has turned decisively bullish, marking the start of a new trend. According to data from CryptoQuant analyst Axel Adler, the number of bullish investors in the market is steadily rising, signaling growing confidence. However, despite this uptick, the current rally lacks the frenzied demand seen during the March 2024 rally, when both retail and institutional interest reached euphoric levels. Adler’s data indicates that while bulls have a strong foothold in the market, the pace of accumulation by new retail and institutional participants is still relatively modest. This gap between the current market dynamics and those seen in March suggests that Bitcoin’s latest surge may be just the beginning rather than the end of its upward trajectory in this cycle. Related Reading: Cardano Skyrockets Over 40% – Funding Rate Suggests Further Upside The slower but steady rise in buying interest could indicate that Bitcoin is still in the early stages of this bullish phase, with room for further growth before reaching a cycle peak. For investors, this could present a promising opportunity. The subdued retail and institutional excitement level suggests that Bitcoin has yet to capture mainstream attention as it did during previous peaks. If demand rises gradually, Bitcoin may experience sustained growth over the coming months, potentially reaching new highs as momentum builds. BTC Setting New High Bitcoin recently set a new all-time high above $82,000, which many investors previously viewed as a likely local top. However, BTC’s price action remains robust, and it may be too soon to call for a definitive peak. Despite this upward momentum, a potential pullback to $77,000 could be on the horizon, as there is an unfilled gap in the CME futures market between $77,000 and $81,000—a technical level that often attracts price action as traders look to close the gap. This week will likely bring significant volatility as bulls control the market. With Bitcoin in uncharted territory, some investors may seize the opportunity to lock in profits, which could introduce selling pressure. Related Reading: Avalanche Nears Breakout – Top Analyst Sets $420 Target For AVAX This Cycle Nonetheless, the dominant trend is bullish, and a brief correction to $77,000 could provide a foundation for further upside. Bitcoin’s strength remains intact for now, but all eyes will be on how it responds to the volatility and whether it can maintain this high range or dip slightly before resuming its climb. Featured image from Dall-E, chart from TradingView
Bitcoin has shattered its all-time highs once again, reaching a new peak of $79,780. This marks the fourth time in just five days that BTC has set a record high, firmly establishing a bullish phase that began when it broke its previous all-time high in March. Market optimism surged following Donald Trump’s recent victory in […]
Bitcoin is on a record-breaking run, reaching new all-time highs for three consecutive days following Donald Trump’s victory in the US election and a recent 25 basis point rate cut by the Federal Reserve. This combination of political and economic shifts has fueled a renewed wave of investor interest in BTC, driving prices into uncharted […]
Bitcoin has smashed through its all-time highs for the second day in a row, fueled by the recent US election results and a Federal Reserve interest rate cut of 25 basis points. Donald Trump’s victory has brought fresh optimism among investors, with many seeing his pro-business stance as a catalyst for Bitcoin’s ongoing rally. The […]
Trump’s election win sparked a surge in searches, indicating increased retail investor interest in the digital asset.
Bitcoin is trading around $75,000 following Donald Trump’s victory in the U.S. election, stirring fresh optimism in the crypto market. Trump’s pro-crypto stance has ignited excitement among analysts and investors who anticipate favorable policies for digital assets in his administration. With Bitcoin now sitting at all-time highs, many speculate this could begin a new rally phase. Related Reading: Ethereum Analyst Sets $3,400 Target Once ETH Breaks Key Resistance – Details Key data from CryptoQuant indicates that Bitcoin has reached a price equilibrium, suggesting there are no strong market forces pulling the price lower. This positive equilibrium reinforces the bullish outlook and hints at a stable foundation for further growth. Analysts believe Bitcoin may be set for new highs with fewer obstacles in the coming weeks. As investor confidence builds, some view this phase as a critical moment for Bitcoin to solidify its position in a pro-crypto policy environment. The combination of strong technical support and positive sentiment from Trump’s victory has set the stage for what many hope will be a significant upward trend, potentially driving the broader crypto market higher. Bitcoin Enters A Bullish Phase Bitcoin has officially entered a bullish phase after breaking past its previous all-time highs, reaching $76,500. This level has become a new area of focus as many analysts identify it as a potential resistance zone. According to CryptoQuant analyst Axel Adler, the market is currently balanced between a “Bubble” and a “Crash” phase. Adler’s analysis, which includes key on-chain data, suggests that Bitcoin’s market structure is at an equilibrium, meaning there are no significant fundamental reasons to anticipate a drop. Instead, this setup provides a stable foundation for possibly continuing Bitcoin’s upward trend. With the Federal Reserve’s interest rate decision set to be announced today, the next few weeks promise to be pivotal. A stable or favorable decision from the Fed could reinforce the optimism in the market, drawing in new demand and reinforcing Bitcoin’s position above $76,000. Many investors and analysts expect heightened activity from institutional players, particularly given Bitcoin’s resilience around this milestone level. The market’s balance at this juncture is crucial. As long as Bitcoin maintains its current structure, it has the potential to continue its upward trajectory without substantial risk of retracement. Related Reading: Ethereum Analyst Shares Correlation With S&P500 – Last Dip Before It Hits $10,000? With fresh demand entering the market and the macroeconomic backdrop shaping up favorably, Bitcoin may soon aim for even higher levels. For now, all eyes remain on the $76,500 mark and how the market will respond in the wake of the Federal Reserve’s announcement. This period of consolidation could be the catalyst for the next leg up, solidifying Bitcoin’s bullish outlook. BTC Key Levels To Watch Bitcoin is trading at $75,000, holding steady above its previous all-time high of approximately $73,800. This level has become a critical support zone as BTC continues in a well-defined 4-hour uptrend. The trend began after a strong bounce from the 200 exponential moving average (EMA) at $66,800, indicating renewed bullish momentum. Bulls need to keep the price above the $73,000 mark to sustain this momentum, a key psychological threshold. This level boosts market confidence and provides a potential springboard for Bitcoin to reach higher targets soon. A confirmed hold above $73,000 could signal further upside, inviting additional buying pressure and potentially setting up BTC for new highs. Related Reading: Solana ‘Must Break Descending Resistance’ To Regain Bullish Momentum – Analyst However, if BTC fails to hold this level, it could slip toward a lower demand area of around $70,500. Despite this possibility, current price action shows no significant signs of a downturn. The steady uptrend and firm support levels suggest that Bitcoin’s bullish outlook remains intact, with little indication of an imminent drop. As long as BTC maintains its structure, the path toward continued gains remains clear, reinforcing confidence in the ongoing rally. Featured image from Dall-E, chart from TradingView
Bitcoin surged to new all-time highs during election night, hitting an impressive $75,300 as market excitement reached a fever pitch. This milestone pushed Bitcoin into price discovery, igniting significant liquidations across trading platforms. Data from CryptoQuant reveals an unprecedented surge in short liquidations, surpassing $100 million within a single one-minute candle, marking a historic moment for BTC. This explosive price action was fueled by the surprise Trump win in the U.S. election, which appears to have sparked renewed enthusiasm for crypto assets as investors respond to the potential economic policies ahead. The election outcome has sent shockwaves through the market, with Bitcoin leading a fresh rally across the crypto space. Related Reading: Ethereum Analyst Shares Correlation With S&P500 – Last Dip Before It Hits $10,000? Now in uncharted territory, Bitcoin’s move above $75,000 represents a powerful statement of investor confidence despite broader economic uncertainties. As BTC enters price discovery mode, traders and investors alike are bracing for further volatility, while many anticipate that this momentum could extend into even higher highs. The coming days will be critical as Bitcoin’s price action continues to drive liquidations and shape the outlook for the broader market. Bitcoin Bullish Phase Begins Bitcoin has officially entered a bullish phase, setting new all-time highs following Donald Trump’s election victory. As a known crypto supporter, Trump’s win has spurred market optimism, pushing BTC’s price above previous ATHs in a surge that began as election results favored his lead. This bullish breakout was accompanied by a dramatic liquidation spike, signaling strong buying pressure as bearish bets were swiftly unwound. Data from CryptoQuant analyst Maartunn shows that short liquidations exceeded $100 million in a single one-minute candle—an unprecedented event that underscores the power behind this rally and suggests that Bitcoin’s upward momentum is just beginning. In the coming days, volatility will remain high as global markets digest the election outcome and brace for the Federal Reserve’s upcoming interest rate decision on Thursday. Investors anticipate a dynamic market response, with possible ripple effects across traditional and crypto markets. Should the Fed keep rates steady or make any dovish adjustments, it could further bolster Bitcoin’s rally and strengthen the broader crypto market. Related Reading: Solana ‘Must Break Descending Resistance’ To Regain Bullish Momentum – Analyst The outlook remains bullish as market sentiment shifts positively with Bitcoin’s new price discovery phase. While short-term fluctuations are likely amid these major events, the long-term view favors a bullish trend as Bitcoin leads the crypto market higher in this new post-election environment. BTC Visits Uncharted Territory Bitcoin is trading at $73,800 after breaking its previous all-time highs and reaching a new peak of $75,300. This breakout has pushed BTC into uncharted territory, a phase that historically signals massive gains as bullish momentum builds. The focus is whether Bitcoin can maintain its momentum above the previous ATH of $73,800, a critical support level that could propel it further into new highs if held successfully. However, the timing of this move aligns with a particularly volatile week, as the market anticipates the Federal Reserve’s upcoming meeting. The Fed’s decision on interest rates could introduce significant unpredictability, potentially tempering BTC’s rise or even sending it below the $70,000 mark if the outcome diverges from market expectations. As BTC navigates this price discovery phase, investors are closely eyeing key levels. Related Reading: Ethereum Risk-To-Reward Ratio Is ‘Too Good To Pass Up’ – Top Analyst Sets $6,000 Target Holding above $73,800 would strengthen the bullish narrative, while any pullback would test support levels and investor resilience amid broader market uncertainty. With volatility expected, this week could be pivotal for Bitcoin’s trajectory in the months ahead. Featured image from Dall-E, chart from TradingView
Bitcoin is entering what many consider the most pivotal week of this market cycle, not due to the looming U.S. election or the Federal Reserve’s upcoming interest rate decision, but because it’s on the brink of breaking all-time highs. If BTC crosses this milestone, it will enter “price discovery” mode, potentially sparking a massive rally […]
Bitcoin is set to close out a volatile week, marked by an attempt to break its all-time high (ATH) that ultimately ended in a retracement to lower demand levels. Despite this pullback, market sentiment remains largely positive. Key data from CryptoQuant reveals that the Net Taker Volume (SMA-24H) across all exchanges currently indicates a bullish […]
Bitcoin has entered a consolidation phase after falling short of breaking its all-time high this week, leaving bulls in anticipation of the next big move. Currently trading just below its previous peak, BTC’s inability to push past this level has led to a temporary reset in momentum. Key data from CryptoQuant shows a recent uptick […]
Bitcoin is currently trading above $69,000, following a 6% pullback from its recent peak at $73,600. The recent surge in open interest has been a key factor in driving BTC’s price action, with open interest reaching $23.9 billion on October 30, a significant uptick that indicated high market engagement. However, in the past 24 hours, data from CryptoQuant reveals a $2.1 billion decline in open interest, signaling a shift as BTC’s price retraces to lower levels. Related Reading: Dogwifhat (WIF) Prepares For A Bullish Breakout – Analyst Sets $3 Target This cooling off has led analysts to closely watch for renewed buying interest from spot investors, which could provide the fuel needed for BTC to rally once more. With Bitcoin hovering near key support levels, a push from spot investors could potentially set the stage for a strong rebound. The next few days will be pivotal as traders and analysts alike await fresh inflows that may reinforce BTC’s resilience and prepare it for another test of its all-time highs. As BTC holds around $69,000, market sentiment remains cautiously optimistic, with eyes on spot activity to gauge whether this retracement phase could soon give way to renewed momentum. Bitcoin Hype Slowing Down? Bitcoin has recently captured market excitement, coming within 1% of its March all-time high and fueling speculation of a massive breakout. However, this momentum appears to be losing steam, as BTC has yet to establish a new high, and open interest—a measure of the total value of futures contracts—has begun to shrink. Renowned analyst Axel Adler recently shared key data on X, revealing a $2.1 billion reduction in open interest within the last 24 hours. This decline, from a peak of $23.9 billion to $21.8 billion, indicates that speculative futures trading alone may not be sufficient to push Bitcoin to new heights. Adler suggests that for Bitcoin to break past this barrier, spot investors—the market participants who buy BTC directly rather than through derivatives—must step in to drive demand. With futures markets retreating, fresh buying from spot investors could be the needed catalyst to take Bitcoin above its all-time high and set the stage for further gains. Related Reading: Ethereum Holds Key Support To Set A $6,000 Target – Analyst The timing is crucial, as Bitcoin is currently trading close to its historical peak, and the upcoming U.S. election on November 5 adds another layer of potential market volatility. Many market participants are eyeing the election as a potential driver of a broader market rally, with a Bitcoin bull run possibly following a political catalyst. For now, Bitcoin hovers just below its all-time high, and while the futures market pulls back, attention shifts to spot buying as a key factor in determining whether BTC can resume its upward trajectory. As BTC holds near record levels, the next few days will be pivotal in defining its short-term direction and potential for a new bull phase. BTC Holding Above Key Levels Bitcoin is currently trading above the critical $69,000 mark, which previously acted as strong resistance since late July. Holding this level as support is essential for bulls aiming to push BTC toward new all-time highs. If Bitcoin manages to consolidate above $69,000, the stage could be set for a breakthrough into uncharted territory and a price discovery phase. However, should BTC retrace below this level, it would signal that the asset needs additional momentum to test and surpass its all-time high. In the event of a pullback, $66,500 stands out as the next critical support. This level would maintain Bitcoin’s bullish structure while providing a solid base for a potential rebound. Such a dip could attract fresh buying interest and add necessary fuel to Bitcoin’s rally, preparing the market for a renewed attempt at price discovery. Related Reading: Dogecoin Metrics Reveal Increasing Network Activity – Is DOGE Ready To Break Yearly Highs? As BTC hovers above this significant support level, traders are closely watching for signs of sustained strength or a healthy retracement to solidify the base before the next leg up. Holding above $69,000 is key, but even a temporary decline to $66,500 would keep Bitcoin’s broader bullish outlook intact. Featured image from Dall-E, chart from TradingView
Ahead of its monthly close, Bitcoin (BTC) has seen another unsuccessful attempt to reclaim the $72,000 resistance as a support level. Despite the drop, some analysts consider the cryptocurrency is still in a strong position for an upcoming breakout, setting the next levels to watch. Related Reading: Analyst Says It’s ‘Time To Be Bullish On Ethereum’ As ETH Retests $2,700 BTC’s Sweet 16 Party Turns Spooky Bitcoin, the largest cryptocurrency by market capitalization, recorded an impressive rally in ‘Uptober,’ surging around 13% in the last 30 days. BTC’s price has jumped from the $58,900 monthly low to near its all-time high (ATH) price of $73,737, reaching the $73,300 mark on Wednesday. Following the green September close, the flagship crypto is set to have its best monthly close since March, potentially registering around 13$ to 14% in monthly returns despite its most recent price action. On its whitepaper’s 16th birthday, Bitcoin recorded a spooky 2% drop, driving the rest of the market to a red Halloween party. BTC’s price fell below the $71,000 mark, reaching an intraday low of $70,600. Meanwhile, the second largest cryptocurrency by market capitalization, Ethereum (ETH), pulled back around 5.1%, losing the $2,600 support zone. Crypto analyst Ali Martinez pointed out that today’s drop is the fifth consecutive rejection BTC faces at $72,000. Since its ATH, Bitcoin has been rejected from this resistance level five times, dropping between 8.2% and 18% the four previous times. Analyst Altcoin Sherpa suggested that BTC could see a 4% to 5% dip if the largest cryptocurrency doesn’t hold the $70,000 support zone. Nonetheless, Sherpa considers that the cryptocurrency should “see some sort of bounce” from the $70,800-$71,400 area in the short term. BTC is expected to have an extremely volatile week ahead of the US presidential elections. Bitfinex analysts predicted that Bitcoin volatility will peak between November 6 and November 8, as speculation and anticipation about the election outcome affect the cryptocurrency’s performance. Is Bitcoin Gearing Up For End-Of-Year Breakout? Cryptoinsightuk weighed in on Bitcoin’s performance, noting that BTC is still at ATH by Open Interest (OI). The crypto investor considers that the Daily Relative Strength Index (RSI) could potentially “cross bearish” today. He also highlighted that $69,600 should work as a key support level for Bitcoin bulls but warned that losing the $66,500 range could be “messy” as BTC’s open interest would “flush.” Meanwhile, Crypto Kaleo posted a more bullish outlook for BTC’s price action. The analyst highlighted that the flagship crypto didn’t break above its ATH when it retested the $20,000 mark in 2020. Related Reading: Neiro Breaks Above Key Level Following 10% Weekly Drop, Is $0.0020 Next? Instead, Bitcoin initially pulled back nearly 20% during Thanksgiving, moving from $19,400 to $16,100. Moreover, BTC’s price accumulated within that range for 30 days before breakout, seeing the next leg up in late December 2020. The analyst pointed out the breakout happened 219 days after May 2020’s Halving. As Bitcoin is currently 194 days post-halving, the analyst considers that “a little bit of a pullback here isn’t any reason for concern.” As of this writing, Bitcoin has held the $70,000 support level, currently trading at $70,522. Featured Image from Unsplash.com, Chart from TradingView.com
Bitcoin is on the verge of breaking its all-time high, and investors feel the euphoria as BTC approaches a pivotal point. Market anticipation is building, with many expecting a strong surge once BTC enters price discovery and moves into uncharted territory. Critical data from Glassnode reveals an interesting sentiment among long-term holders: despite the rally, […]
As Bitcoin (BTC) continues to tease a new all-time high (ATH), daily over-the-counter (OTC) desk inflows have plummeted to yearly lows. Bitcoin’s “Uptober” Narrative Remains Intact Bitcoin has overturned the sluggish start to its historically most bullish month, recording more than 13% gains in October and coming within reach of a new ATH. Related Reading: […]
Bitcoin has been trading in a tight 4-hour range between $71,300 and $73,300 since Tuesday, setting the stage for a significant move in the coming days. Analysts and investors closely watch this range as BTC inches closer to its all-time high (ATH). Top analyst Axel Adler recently shared key data from CryptoQuant, noting that trading volume has steadily decreased as Bitcoin remains within these levels. Typically, this volume decline signals consolidation, a phase often preceding a major price swing. Related Reading: Dogecoin Metrics Reveal Increasing Network Activity – Is DOGE Ready To Break Yearly Highs? Anticipation is building with the U.S. election just around the corner on November 5. Market sentiment is optimistic, and many expect Bitcoin to break out of this range soon, either pushing into new highs or experiencing a healthy retrace to fuel further growth. The coming days will be pivotal for Bitcoin’s trajectory as traders assess whether the consolidation period will lead to a breakthrough into uncharted territory. As BTC flirts with its ATH, the stage is set for a decisive move that could shape the market’s direction through the end of the year. Bitcoin Price About To Move Bitcoin is at a defining point in this cycle, nearing the end of a 7-month accumulation period and poised to test new all-time highs. CryptoQuant analyst Axel Adler has noted in a recent analysis on X that BTC is currently range-bound, trading between $72,900 resistance and $71,400 support, with trading volumes showing a gradual decline. According to Adler, this reduced volume in Bitcoin’s confined range hints at an impending breakout. However, a new catalyst appears necessary to drive this shift and launch BTC past its previous highs. The upcoming U.S. election may be that catalyst, with potential market impacts depending on the outcome. Market sentiment suggests that a Trump victory could stimulate bullish sentiment in the financial markets, possibly positively influencing Bitcoin’s price trajectory. Investors are eyeing this pivotal event as a possible trigger to push BTC beyond the $73,794 mark, its all-time high, into uncharted price territory. Related Reading: Ethereum Holds Key Support To Set A $6,000 Target – Analyst A successful breakout from the current range could usher Bitcoin into price discovery mode, where FOMO (fear of missing out) could drive buying pressure, amplifying the surge. On the other hand, if BTC fails to secure a new high, it may dip back toward lower support levels, potentially consolidating further until the necessary momentum builds. BTC Flirting With ATH Bitcoin is holding strong above $72,000, inching closer to breaking its all-time high (ATH) and entering a price discovery phase. Price discovery typically ushers in significant gains, as fresh highs fuel market optimism and buying pressure. However, BTC has yet to decisively break past its previous ATH of $73,794, and a temporary decline below $70,000 remains a possibility if demand doesn’t strengthen soon. The $71,000 support level now serves as a critical base for BTC. If the price holds above this mark in the coming days, momentum will likely build for a solid attempt to break the ATH, potentially triggering a new wave of bullish sentiment. Traders and investors closely watch BTC’s performance at these levels, knowing that any sustained movement above $73,794 could signal the start of a powerful uptrend as Bitcoin pushes into uncharted territory. Related Reading: Cardano Might See A Massive Pump Around November 18 – Analyst Exposes 2020 Similarities Meanwhile, a short retrace to lower support levels might provide the liquidity needed to propel BTC beyond its current resistance. Whether through a direct push or a minor pullback, Bitcoin’s resilience above $72,000 sets the stage for an imminent test of ATH, with price discovery and new highs on the horizon. Featured image from Dall-E, chart from TradingView
Although Bitcoin (BTC) is yet to breach its USD all-time high (ATH) value, the flagship cryptocurrency has made a new ATH against the euro (EUR) and some other fiat currencies. Bitcoin Makes Fresh ATH Against Euro Bitcoin surpassed €68,000 ($73,561) on October 29, establishing a new ATH against the euro. The largest cryptocurrency by market cap reached this milestone on multiple crypto exchanges, including Binance. Related Reading: Can Bitcoin Price Reach A New All-Time High? This Golden Cross Suggests So This marks the first time since March 2024 that BTC has set a new ATH against the euro. Although Bitcoin came very close to a new ATH in USD, it fell short by approximately $200, dropping from $73,620 to $71,805 at the time of writing. Notably, the discrepancy between BTC’s performance against the euro and the USD is due to changes in the dollar’s strength. On March 14, when BTC last reached its USD ATH of $73,737, the USD/EUR exchange rate was 0.9113. Currently, the rate is 0.9238, indicating a weakening euro against the dollar. One key factor behind the dollar’s renewed strength is the US Federal Reserve’s decision to raise interest rates to bring inflation down to its target of 2%. Bitcoin has also achieved a new ATH against the Canadian Dollar (CAD), recording a price of just over CAD 102,000, or approximately USD 73,225. As expected, BTC has reached new ATHs against weaker and hyperinflated fiat currencies, including the Turkish Lira, Argentine Pesos, and Russian Ruble. BTC ATH Against USD Most Awaited Bitcoin’s impressive performance comes at a crucial time, with the approaching US presidential elections, the effects of BTC halving, and a surge in stablecoin demand. Related Reading: Bitcoin To $100,000 By February 2025? Analyst Explains Why While Bitcoin’s new ATH against the EUR is promising, the wider crypto market eagerly awaits a USD-denominated ATH, as most crypto trading on exchanges takes place in USD or USD-pegged stablecoins like USDT and USDC. Data shows that the BTC/EUR trading pair generates the most volume on exchanges such as Bitstamp ($39.8 million), Binance ($36.7 million), and WhiteBit ($26.7 million). However, these volumes are dwarfed by higher-volume trading pairs like BTC/Korean Won (KRW). BTC/KRW trading volumes reach as high as $400 million daily – almost ten times more than the most-traded BTC/EUR pair. Recent data indicates that, despite flirting with ATH levels, BTC traders are holding off on profit-taking around the $71,000 level, suggesting expectations of further price increases based on current momentum. Commenting on BTC’s trajectory, seasoned analyst Peter Brandt said that the leading digital asset requires a daily close above $76,000 to confirm a true breakout. At press time, BTC trades at $71,805, up 0.6% in the past 24 hours. Featured image from Unsplash, Charts from Tradingview.com
Bitcoin surged past $73,000 yesterday, nearly breaking its all-time high and sparking a wave of optimism and euphoria across the market. This significant price movement has fueled hopes for BTC’s push into price discovery and new, uncharted territory. Key data from CryptoQuant reveals that institutional demand for Bitcoin is rising, with notable inflows into custodial […]
A historically accurate Bitcoin price indicator suggests that BTC’s price will reach the $174,000–$462,000 range within 24 months.
Today, Bitcoin (BTC) briefly traded above $69,000, coming close to its all-time high (ATH) value of $73,737 recorded earlier this year in March. Bitcoin ‘Bullish Setup’ Reminiscent Of 2020 Rally After months of sideways price movement since March, BTC is continuously attempting to reach a new ATH as the US presidential election draws near. The […]
Bitcoin is currently trading at $66,800 after a week of significant volatility. The price has stabilized above the crucial $65,000 support level, signaling resilience as the market takes a breather after several weeks of heightened excitement. This consolidation phase below the key $70,000 mark suggests that BTC may be preparing for its next major move. […]
Bitcoin has experienced a volatile week, with prices oscillating between a local high of $69,500 and a low of $65,000. After weeks of excitement and upward momentum, the market has cooled off, and BTC is currently consolidating below the critical $70,000 level. This consolidation phase is crucial as traders assess the next potential move for Bitcoin. Related Reading: Ethereum Whale Activity Spikes To 6-Week High – Smart Money Accumulation? Analyst Ali Martinez has shared significant data from Binance, highlighting the high risk for short positions at the $68,500 mark. When such risk levels are present, the price often seeks liquidity, which suggests that it may gravitate toward supply zones. This behavior indicates that the market is potentially targeting areas where sellers may be positioned, which could lead to further fluctuations in price. The interplay between these resistance and support levels will determine Bitcoin’s trajectory. A decisive move above these levels could signal Bitcoin’s next phase, making it critical for investors to remain vigilant. Bitcoin Short Squeeze Looms Bitcoin is reaching a pivotal moment, with the market buzzing with expectations for a potential push toward all-time highs. Martinez recently shared crucial data on X, revealing that a significant number of short positions are at risk of liquidation, particularly around the $68,598 mark. The cumulative short liquidation leverage at this price level is approximately $452.36 million, indicating that a substantial amount of capital could be affected if the price continues to rise. This scenario sets the stage for a bullish outlook, as overleveraged short positions suggest that Bitcoin could find liquidity at supply levels. This could trigger a cascade of buying pressure. When the price breaks above the key $69,000 mark, it could lead to a wave of Fear of Missing Out (FOMO) among traders and investors watching from the sidelines. The liquidation of these short positions could propel Bitcoin’s price higher, strengthening the bullish narrative. Market participants closely monitor this critical threshold, as a decisive break above $69,000 could ignite a surge toward previously untested highs. Related Reading: Solana Breakout From Bullish Pattern Could ‘Send SOL To The Moon’ – Crypto Analyst Maintaining awareness of both market dynamics and key price levels is essential for traders looking to navigate the volatility. The next few days could prove crucial as Bitcoin approaches this significant moment, and how it reacts to these overleveraged positions may determine its trajectory in the coming weeks. BTC Liquidity Levels Bitcoin (BTC) is currently trading at $67,100 after a week marked by volatility and uncertainty. The price has pushed above the $66,000 level, signaling strength and hinting at a potential rally in the coming weeks. This upward movement reflects renewed optimism in the market, as investors look for signs of sustained bullish momentum. However, it’s essential for BTC to maintain its position above the $65,000 mark. If the price fails to hold this level, a sideways consolidation may occur, allowing the market to gather liquidity before making its next move. This consolidation phase could set the stage for a surge in buying activity as traders look to capitalize on potential opportunities. Related Reading: Dogecoin Liquidity Sweep Signals DOGE Is Ready For A Rally A break above the key $70,000 level would further strengthen the bullish outlook, potentially initiating a new uptrend. Such a movement could attract additional investment and excitement in the market, as traders and investors respond to the breakout. Featured image from Dall-E, chart from TradingView
Bitcoin currently ranges between $65,000 and $69,500 following two weeks of bullish price action, sparking renewed optimism among analysts and investors. The prevailing sentiment is that BTC is on the verge of reaching new all-time highs in the coming weeks, with confidence building that March’s cycle top predictions may have been premature. Related Reading: Dogecoin Liquidity Sweep Signals DOGE Is Ready For A Rally Key metrics from CryptoQuant reveal that Bitcoin is still far from typical cycle-top conditions, instead signaling a bullish outlook as we move into November. As the U.S. election approaches November 5 and macroeconomic factors continue to shift, price action is expected to remain unpredictable and volatile. Market participants are watching closely, expecting that geopolitical and economic events could influence BTC’s trajectory. Given this context, many believe the next major move for Bitcoin could catalyze a fresh leg up, potentially breaking through previous highs. Bitcoin Calm Before The Storm? Bitcoin is holding firm above $67,000, showing resilience as it edges to a potential breakout above $70,000. However, the current price action indicates that Bitcoin may consolidate below this key level before moving up to new highs in the next leg. Market participants closely watch BTC’s behavior around these price levels, as a sustained push above $70,000 could set the stage for significant gains. CryptoQuant analyst Axel Adler recently shared critical insights on X, highlighting the current Long-Term Holder (LTH) to Short-Term Holder (STH) SOPR Ratio, which sits at 1.8. This metric is often used to gauge selling pressure and market sentiment, with higher levels indicating increased profit-taking that could signal a market peak. According to Adler, when this ratio climbs to around 7, Bitcoin will be nearing a cycle culmination. The ratio’s bullish cross with its 90-day moving average reflects a positive outlook, supporting the narrative that BTC remains well below its cycle top. Related Reading: Number Of Bitcoin Bulls Increases As Funding Rate Shows Steady Growth – Details This metric’s movement and broader market strength paint a favorable picture for Bitcoin’s price action in the coming weeks. The data suggests that Bitcoin still has room to grow within this cycle, providing confidence to long-term holders and investors looking for continued upside. BTC Technical Levels Bitcoin is trading at $67,500, facing challenges after failing to maintain its bullish structure on the 4-hour chart. The price couldn’t set a new high above $69,500, marking a potential shift in momentum. A crucial support level now sits at $65,000, the local low that previously held the bullish trend intact. Holding above this level is essential to prevent a broader retrace and maintain confidence among bulls. Currently, price action remains indecisive, leaving the direction for the coming days unclear. A breakout above $69,500 would restore the bullish structure, likely drawing more buyers into the market and signaling another rally attempt. Conversely, a break below the $65,000 support would signal a retrace, potentially leading BTC to lower demand zones as bulls look to regroup. Related Reading: Solana Stays Strong Despite BTC Drop – $176 Next? The current consolidation phase highlights the importance of these levels in determining Bitcoin’s short-term trajectory. With both bulls and bears vying for control, BTC’s ability to hold above $65,000 will be crucial to retaining bullish sentiment. Featured image from Dall-E, chart from TradingView
The launch of the Bitcoin ETF in the US triggered an increase in the total value of Bitcoin activity across all regions worldwide, according to Chainalysis.