Bitcoin continues to struggle below the $90,000 level, failing to reclaim higher ground as bulls focus on defending current demand zones. After a sharp correction from recent highs, price action has entered a consolidation phase that, on the surface, appears relatively calm. Volatility has compressed, and short-term price movements suggest a market pausing rather than decisively breaking down. However, this apparent stability may be misleading. Related Reading: Ethereum Trades Near Whales’ Cost Basis For The Fourth Time Since 2021 – Historic Test According to a CryptoQuant report from XWIN Research Japan, on-chain data is signaling growing structural risk beneath the surface. The Inter-Exchange Flow Pulse (IFP), a metric that tracks the movement of Bitcoin between exchanges and serves as a proxy for internal market liquidity, has turned red. In such environments, price moves tend to be sharper and less orderly once direction is established. While reduced exchange balances can limit immediate selling pressure, they also amplify the impact of sudden demand or forced liquidations. This shift indicates a clear slowdown in capital circulation across trading venues, suggesting that liquidity conditions are deteriorating. Inter-Exchange Flow Pulse Signals Structural Fragility The report explains that the Inter-Exchange Flow Pulse (IFP) measures how actively Bitcoin moves from one exchange to another, serving as a proxy for internal market liquidity and capital circulation. When IFP is elevated, capital rotates efficiently across venues, arbitrage opportunities are quickly absorbed, and liquidity providers keep order books deep. In those conditions, price discovery is smoother, and volatility tends to remain contained. By contrast, when IFP declines, the market’s internal “blood flow” weakens. Capital becomes static, liquidity fragments, and prices grow increasingly sensitive to relatively small trades. This deterioration in liquidity is unfolding alongside historically low exchange balances. While reduced sellable supply can initially act as price support, it also creates thinner order books. Once price begins to move decisively in either direction, slippage increases and volatility accelerates. With leverage still elevated across derivatives markets, instability becomes driven less by directional conviction and more by the magnitude of forced reactions. Historically, periods when IFP turned red produced abrupt corrections and sharp price swings, not clean trends. The central risk today is therefore not aggressive distribution, but structural fragility. Until inter-exchange liquidity improves, Bitcoin remains vulnerable to sudden, outsized moves, making leveraged positioning particularly risky in the current market structure. Related Reading: XRP Whale Activity Spikes At The Bottom – A Classic Pre-Rally Signal Bitcoin Price Consolidates Below Key Moving Averages The 4-hour Bitcoin chart highlights a market locked in consolidation after a sharp corrective move. Following the aggressive sell-off in late November, BTC found a local bottom near the $82,000–$83,000 zone, where strong demand stepped in and triggered a rebound. However, that recovery quickly lost momentum, and price is now ranging below the descending cluster of moving averages. Bitcoin is currently trading around the $89,000–$90,000 level, repeatedly failing to reclaim the 200-period moving average on the 4-hour timeframe. The 50 and 100 moving averages are also sloping downward, acting as dynamic resistance and reinforcing the short-term bearish structure. Each attempt to push higher has been met with selling pressure, suggesting that bulls lack conviction at current levels. Related Reading: This Whale Isn’t Stopping: $392M Ethereum Long And A Tight Liquidation Price Revealed Volume has noticeably contracted during this consolidation phase, indicating reduced participation and indecision among traders. This typically precedes a volatility expansion, especially when price compresses beneath major resistance. Structurally, BTC remains vulnerable as long as it trades below the $92,000–$94,000 zone, which previously acted as support and now caps upside attempts. On the downside, the $87,000–$88,000 range is emerging as immediate support. A decisive breakdown below this area could reopen the path toward the $84,000 region. Until a clear breakout occurs, Bitcoin remains in a fragile balance between distribution and base-building. Featured image from ChatGPT, chart from TradingView.com
After an impressive rally that propelled Bitcoin (BTC) to new heights above $126,000, the cryptocurrency market is now facing a wave of uncertainty. Major cryptocurrencies, including BTC, have seen a retracement to critical support levels, leaving many investors questioning the market’s direction. Bitcoin And Ethereum Prices Projected To Skyrocket Market expert Ash Crypto recently shared insights on social media platform X (formerly Twitter), suggesting that this pullback serves to liquidate bullish positions, particularly among retail investors. He predicts a potential rebound in mid-October, expressing optimism that the market will rally significantly by the end of the month. Related Reading: BNB Price Soars 600% From Bear Market Lows, Eyeing $1,980 As Next Target According to Ash Crypto, the prevailing sentiment among traders is one of fear, leading many to believe that the anticipated “PUMPTober” has been canceled. However, he argues that when market sentiment is at its most pessimistic, a substantial bounce is likely to occur, setting the stage for a parabolic rally in the fourth quarter. The expert’s projections estimate that Bitcoin could soar to between $150,000 and $180,000, while Ethereum (ETH) might reach between $8,000 and $12,000. This surge, he contends, would ignite a genuine altcoin season, with altcoins potentially experiencing gains of 10 to 50 times their current values within a few months. Analysts Predict Explosive Altcoin Phase Supporting this bullish outlook, analysts from The Bull Theory have noted that the cryptocurrency market is on the brink of its most explosive phase for altcoins. They draw parallels to the market behavior of 2020, when altcoins experienced a significant breakout after a lengthy base-building period. The analysts point out that the current market structure mirrors that of 2020, with a multi-year base formation and higher lows indicating that buyers are increasingly absorbing supply. The total altcoin market cap, excluding Bitcoin and Ethereum (referred to as TOTAL3), currently hovers around $1.14 trillion, just below a key resistance level of approximately $1.2 trillion. Historically, altseason has not commenced until this resistance is breached. As long as Bitcoin continues to reach new highs, liquidity tends to concentrate in BTC, leaving altcoins in the shadows. However, once TOTAL3 breaks through its ceiling, the analysts anticipate a massive upside, potentially pushing the altcoin market cap to between $5 trillion and $7 trillion. Related Reading: XRP Bull Run Reloaded: Analyst Says Momentum Mirrors 2017’s Explosive Rally This potential breakout is occurring alongside favorable conditions, including high Bitcoin dominance, significant inflows into Ethereum exchange-traded funds (ETFs), improving regulatory clarity, and the resumption of global liquidity injections from countries like China and Japan. The current period of consolidation, rather than indicating weakness, is seen as a necessary phase before a broader expansion. As analysts emphasize, altseason does not begin arbitrarily; it commences when TOTAL3 decisively breaks out of its resistance. Featured image from DALL-E, chart from TradingView.com
Following the recent decision by the US Federal Reserve (Fed) to cut interest rates, the Bitcoin price has resumed its upward trajectory after a brief period of consolidation below $115,000. This shift aligns with forecasts from leading analysts, who suggest that the market’s top cryptocurrency may reach a new all-time high (ATH) in the coming months. Some experts even believe that this milestone could be achieved as soon as two weeks from now. Bullish Indicators Emerge Market expert Axel Adler has highlighted key indicators supporting this outlook. He noted on social media platform X that BTC futures are trading at a premium compared to spot prices, with a consistently positive basis. Additionally, the seven-day basis is above the thirty-day average, suggesting a bullish market regime. Related Reading: Coinbase Vs. State Regulators: Crypto Exchange Fights Legal Fragmentation Adler’s analysis suggests a base case probability of around 70% for a continued stepwise uptrend or sideways movement over the next two weeks for the Bitcoin price. He emphasized that if a cluster of bullish signals emerges—such as rising prices, an increasing basis, and growing open interest—this would likely attract fresh long positions and enhance the likelihood of the Bitcoin price achieving a new ATH. Importantly, the Short-Term Holder (STH) Market Value to Realized Value (MVRV) Z-scores for both the 155-day and 365-day periods are hovering near zero, indicating that the market is balanced and not in an overheated or oversold state. With the Bitcoin price positioned just above its Short-Term Realized Price, Adler stresses that the stage is set for potential consolidation over the next week or two, followed by a possible surge toward new highs. Adler referred to this anticipated movement as a new “uptober” for Bitcoin and the broader digital asset market. Bitcoin Price Boost Predicted Amidst Strong US Stock Market Performance Adding to the bullish sentiment surrounding the Bitcoin price is the recent performance of US stocks, which have been on a significant uptrend for the past two weeks. Analysts at The Bull Theory have noted a correlation between stock market rallies and the Bitcoin price action, with the analysts suggesting that Bitcoin tends to rise when US equities hit new highs. Related Reading: Next XRP ‘Monster Leg’ Will Start No Earlier Than 2026: Analyst Historical data supports this notion: as seen in the chart below, after an all-time high in the S&P 500, the Bitcoin price has averaged an increase of 12% over 30 days and an impressive 36% over 90 days. If this were to occur again, the Bitcoin price would reach $131,000 and even $178,000 respectively. Similarly, following a Nasdaq all-time high, Bitcoin’s average gains are 16% in 30 days and 46% in 90 days. This scenario would position the market’s leading cryptocurrency at $136,000 and $199,000 if similar price action unfolds from current trading levels of $117,770. Featured image from DALL-E, chart from TradingView.com
Bitcoin (BTC) is holding near $117,500, up about 6.1% over the past two weeks. However, recent data from Binance shows that BTC’s current price action is largely supported by retail investors, while whales have been noticeably absent. Bitcoin Holds $117,500 Amid High Retail Inflows According to a CryptoQuant Quicktake post by contributor Arab Chain, Bitcoin is hovering around the $117,500 price level, supported by active inflows from retail investors. Notably, large whale inflows have been completely absent, indicating that the current market is being driven by individuals more than by large wallets. Related Reading: Bitcoin Miners Shift Strategy: Accumulation Over Selling Signals Stronger Bull Cycle Inflows ranging from 0 to 0.001 BTC recorded approximately 97,000 BTC. Similarly, inflows from the 0.001 to 0.01 BTC segment totaled nearly 719,000 BTC. The distribution above suggests that Bitcoin’s current rally is largely driven by retail investors. These investors conduct numerous but small-volume transactions, confirming that individual investors are shaping the market dynamics. Arab Chain added: The figures reveal that the bulk of inflows are concentrated in small and medium-sized transactions, reflecting the dominance of retail activity in Bitcoin trading. This liquidity, despite its limited scale, has helped keep the market balanced at current levels. It is worth emphasizing that there has been almost no whale pressure during the current market rally. Specifically, no significant surges in inflows of more than 100 BTC were observed, mitigating the likelihood of a sharp short-term price correction. To conclude, the current market situation shows that Bitcoin is experiencing a state of equilibrium, largely due to heightened retail investor participation. Such a scenario gives the market an opportunity to steadily surge toward the important $120,000 resistance level. That said, it would be wise to keep an eye on any whale activity, as it could quickly alter the market’s direction. Any sudden entry of whale inflows could trigger a rapid price correction, similar to previous market tops. Experts Divided On BTC Price Action As Bitcoin trades about 5.4% below its all-time high (ATH), there are signs that the top cryptocurrency by market cap may be on the cusp of a fresh rally. For instance, BTC recently broke above the mid-term holder breakeven, reducing the likelihood of an immediate sell-off. Related Reading: Bitcoin Market Faces Supply Squeeze As Scarcity Index Turns Positive Again Recent positive developments – such as the US Federal Reserve (Fed) reducing interest rates by 25 basis points – could reinvigorate the crypto market. Against that backdrop, crypto entrepreneur Arthur Hayes recently reiterated his ambitious $1 million BTC prediction. That said, gold bug Peter Schiff opines that BTC has likely already peaked for this market cycle. At press time, BTC trades at $117,523, up 1.8% in the past 24 hours. Featured image from Unsplash, charts from CryptoQuant and TradingView.com
Bitcoin is finally showing signs of strength as it attempts to push above the $98,000 level, signaling a potential end to months of volatility and selling pressure. For the first time in weeks, bulls appear firmly in control, reclaiming momentum and building a case for a sustained uptrend. After a prolonged period of uncertainty, BTC is now trading within a pivotal range that could shape its next major move. Related Reading: Ethereum Consolidates As Accumulation Trend Develops – New Bullish Phase Ahead? A drop below the $90,000 support zone would threaten the current structure and potentially confirm bearish momentum. On the other hand, a clean breakout and daily close above $100,000 would likely open the door to a powerful rally and renewed market confidence. This makes the coming sessions especially critical for traders and investors alike. Top analyst Big Cheds recently highlighted Bitcoin’s strong technical setup, pointing to the 4-hour chart where BTC is showing “beautiful strength” as it tests the upper bounds of its trading range. This could be the beginning of a breakout phase if bulls can maintain pressure and flip resistance into support. Bitcoin Triggers Investor Frustration As $100K Breakout Remains Elusive Bitcoin is testing investors’ patience once again as it continues to struggle below the key psychological level of $100,000. Despite strong price action in recent weeks, BTC has failed to reclaim this milestone, leaving the market divided over what comes next. While some analysts maintain that the bull run is far from over and expect Bitcoin to break its previous all-time high at $109K, others argue that this current rally is nothing more than a relief bounce within a broader bear market structure. Following months of heavy selling pressure and macro uncertainty, Bitcoin has shown renewed strength, reclaiming key support levels and climbing back above $97K. This move has reignited bullish hopes, especially as price action forms higher lows and approaches the top of a multi-week range. Cheds has weighed in with a more optimistic take, highlighting Bitcoin’s “beautiful 4H strength” as the price continues to press against range highs. Cheds noted that BTC is showing more resilience than he initially expected, a sign that bulls still have control, at least for now. However, the $100K level remains a major resistance zone. A confirmed breakout above it could validate a full-scale continuation of the bull market. Until then, the market remains at a standstill, caught between anticipation and doubt. Traders are watching closely for either a breakout above $100K to trigger new upside momentum, or a breakdown below $92K–$90K to confirm a deeper correction. Related Reading: Cardano Struggles At Resistance – Expert Sees A Retest of Lower Support Levels In short, Bitcoin’s structure is promising, but indecision dominates. Whether this is a setup for new highs or the calm before renewed downside remains to be seen, the next move could define sentiment for the months ahead. Technical Details: BTC Testing Critical Supply Bitcoin is trading at $96,959 after bouncing strongly from support near $94,000 and reclaiming short-term momentum. The 4-hour chart shows a clear attempt by bulls to retest the $98,000 level, a key resistance zone just below the psychological $100K barrier. Price is trending well above both the 200-period simple moving average (SMA) at $88,387 and the 200-period exponential moving average (EMA) at $90,723, reinforcing the bullish structure that has been developing since mid-April. The recent move confirms higher lows and a sustained bullish trend, as BTC continues to build upward pressure against range highs. Volume has picked up slightly during the latest breakout attempt, suggesting fresh demand entering the market. However, the $98K–$100K area has historically triggered selling interest, so a decisive break and close above $100K will be essential to confirm a true breakout. Related Reading: Avalanche Bounces Off Key Price Level: Top Indicator Flashes A Buy Signal If bulls manage to reclaim $100K, Bitcoin could quickly extend toward its previous all-time high near $109K. On the downside, holding above the $94K–$95K zone will be critical to preserving bullish momentum. For now, Bitcoin appears to be setting the stage for a breakout, but traders should watch closely as price compresses just under resistance. The next move will likely set the tone for the broader market. Featured image from Dall-E, chart from TradingView
Bitcoin showed unpredictable price action yesterday, plummeting to a low of $89,100 before staging a rapid recovery to reclaim the $96,000 mark. This sharp move is often seen as a liquidity sweep orchestrated by market makers to clear out leveraged positions, a tactic that fuels short-term volatility but strengthens the market’s long-term structure. Related Reading: […]
Bitcoin is trading above $95,000 after a rollercoaster Monday that saw the market plunge and recover in rapid succession. The price dropped over 6%, setting a fresh low around $89,000, before staging a swift rebound that propelled it back to $96,000 within hours. The volatility underscores the heightened uncertainty in the market as BTC consolidates […]
The cryptocurrency market is facing a sharp downturn, with Bitcoin (BTC) hitting fresh lows of around $90,000 on the daily timeframe. This marks a critical moment for the market leader, as BTC hasn’t traded at this level since late November. The steep drop has fueled concerns among investors, particularly as market sentiment shifts toward caution […]
Bitcoin has experienced a 4% price increase since yesterday, a modest but significant growth that highlights strong demand at the $92,000 level. This movement confirms the resilience of BTC at key support zones and indicates that market sentiment remains positive despite recent fluctuations. The price action reflects investor confidence as BTC continues to build momentum […]
Bitcoin and the broader cryptocurrency market are grappling with a significant downturn, with the risk of a deeper correction looming. After reaching an all-time high of $108,300, Bitcoin’s momentum appears exhausted, and bearish sentiment has dominated the market. The pullback has left investors cautious, raising concerns about whether BTC can reclaim its bullish trajectory. Related […]
Bitcoin has surged past its all-time high again, reaching an impressive $108,300 and solidifying its position as the market leader. This rally marks a continuation of Bitcoin’s push into price discovery, fueled by growing investor demand and positive global market sentiment. Notably, many major markets, including U.S. stocks and gold, are also experiencing upward momentum, […]
Bitcoin surged to a new all-time high today, reaching $106,533 and solidifying its position as the market leader in this ongoing bull run. The price action has been exceptionally bullish, offering only three quick chances for investors to buy small dips in recent weeks. This relentless upward momentum has captivated the market as BTC continues […]
Bitcoin has been navigating a whirlwind of volatility recently, with its price repeatedly breaking and losing the highly anticipated $100,000 level—not once, but twice. This rollercoaster movement has captivated investors, making Bitcoin’s price action more intriguing than ever. Despite these wild swings, the market’s resilience has kept the spotlight firmly on the world’s leading cryptocurrency. […]
Bitcoin recently experienced a small retrace from its all-time high of $99,800, dropping to a low of $90,700. Despite this pullback, the price action remains bullish as BTC shows resilience and recovers from the dip. Market momentum remains strong, with key players continuing to show confidence in the asset’s long-term potential. Related Reading: ‘Even In […]
Bitcoin has experienced a 7% pullback from its all-time high at $99,800 after failing to break above the psychological $100,000 mark. This retracement, while causing some concern among investors, is seen as a necessary consolidation phase for the cryptocurrency to build strength before continuing its ascent. Related Reading: Bitcoin ETF Demand Is Back – What’s […]
Bitcoin has broken all-time highs for the fourth consecutive day, surging to an impressive $99,500. This historic price action follows a wave of bullish momentum that began after President-elect Donald Trump’s victory in the US elections on November 5, further energizing both investors and analysts. Related Reading: Ethereum Holders Endure Unrealized Losses – Is ETH […]
Bitcoin has reached a new all-time high, tagging $97,900 just hours ago, as the market sentiment remains extremely bullish. This explosive rally has investors questioning how long this uptrend can be sustained and what lies ahead for the market leader. Bitcoin’s recent performance has drawn comparisons to its historic 2020 bull run, sparking excitement among […]
Bitcoin has entered price discovery after repeatedly breaking all-time highs over the past week. The price surged an impressive 38% in under ten days, highlighting the overwhelming bullish momentum that has captivated the market. BTC is consolidating below the $93,400 mark as traders and investors anticipate its next move. Key data from CryptoQuant reveals an […]
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 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 has shown robust price action over the past few weeks and is pushing toward the critical $69,500 resistance level, with eyes set on previous all-time highs. A significant shift in market dynamics accompanies this surge, as data from CryptoQuant reveals that American investors now hold 4.9% of the total Bitcoin supply through spot ETFs. […]
Bitcoin nearly reached $69,000 yesterday, setting a new local high and further solidifying the ongoing uptrend that began in September. This price action has fueled optimism among analysts and investors, who now anticipate significant gains in the coming weeks. Investors believe Bitcoin is ready for a strong rally after seven months of sideways accumulation. Critical data from Santiment reveals that the number of Bitcoin whales—large holders of BTC—grew substantially just as the price bottomed out around $59,000 on October 10th. Related Reading: Solana Targets $160 Resistance As TVL Hits New Yearly Highs This increase in whale activity is often seen as a sign of “smart money” positioning for a major move. Large investors accumulating BTC during a low suggests that they are preparing for something big in the coming weeks. As excitement builds, market participants watch closely for further signals that Bitcoin could be headed for new all-time highs. With momentum on its side, Bitcoin appears ready to lead the market into the next phase of this cycle. Bitcoin Whale Activity Supports Bullish Outlook Bitcoin is trading near the historically reactive price level of $70,000. A critical zone that has consistently acted as resistance, pushing the price down five times over the past seven months. Each time Bitcoin approached this level, it triggered sell-offs or corrections, leading to caution among traders and investors. However, recent data from Santiment reveals that this resistance may be weakening due to increasing whale activity. Between October 10th and 13th, a net rise of +268 wallets holding between 100 to 1,000 BTC, signaling that large players are accumulating Bitcoin as the price rallies. Analysts often see an increase in whale wallets as a strong bullish indicator, suggesting that influential investors are positioning themselves for potential upside in the coming months. The timing of this accumulation is crucial, as it coincides with Bitcoin’s upward momentum, signaling that these big players expect further gains. As more large holders continue to enter the market, the window to buy Bitcoin at a favorable price narrows. Related Reading: Cardano Bullish Pattern Suggests A Breakout – Can ADA Reach $0.54? This accumulation suggests that whales are betting on a sustained bull run, potentially weakening the $70,000 resistance level and allowing Bitcoin to push higher. With Bitcoin trading near this critical price zone, the next few weeks could be decisive, either breaking through $70,000 or facing another correction. BTC Testing Supply Levels Bitcoin is trading at $68,383 after several days of consistent highs, steadily pushing toward new supply levels. The price recently halted at $68,998 and now appears primed for a challenge to new all-time highs. This surge has created a wave of optimism, but analysts caution that a healthy retrace may be on the horizon. The 200-day moving average (MA), currently sitting at $63,322, is a key level to watch. If Bitcoin retraces to this support zone, it could signal strength for a renewed push higher, as this level has historically acted as a strong support during uptrends. Holding above the 200-day MA is crucial for maintaining bullish momentum. Related Reading: Strong Buy Signal For DogWifHat (WIF) – Key Indicator Hints At Rally To $4 If Bitcoin fails to break above the $70,000 resistance in the coming week, a retrace to lower demand is expected. This pullback would allow the market to regain liquidity and reset for a potential new rally. Investors are closely watching as the price action in the next few days will determine Bitcoin’s long-term outlook. Featured image from Dall-E, chart from TradingView
According to a crypto analyst, Bitcoin (BTC) may be heading towards a capitulation due to tightening on-chain liquidity. However, this capitulation could be followed by a “full bull” market. Bitcoin Headed Lower Before Higher In a detailed thread on X about BTC price analysis, crypto analyst Cole Garner stated that capitulation might be on the horizon for the leading digital asset. Garner attributes the potential downturn to tightening on-chain liquidity. Related Reading: Bitcoin ETF Options Set To Supercharge Price Volatility, Expert Warns Tracking global liquidity from central banks worldwide, the analyst said he sees a “buy signal” for digital assets. However, more downsides for cryptocurrencies could come before liquidity-enhancing measures undertaken by central banks buoy them. In his analysis, Garner stated that “if China doesn’t ring that bell, the Fed or Japan should do the job,” likely pointing toward the recent economic stimulus injected by the Chinese central bank in a bid to boost the country’s grim economic outlook. Garner referenced the recent economic stimulus from China’s central bank but noted that this week, the People’s Bank of China (PBoC) refrained from injecting additional liquidity, tempering expectations for risk-on assets like crypto. Garner emphasized the low supply of stablecoins compared to the beginning of October 2024. Analyzing the “Bitfinex grail,” which is essentially the total supply of two leading stablecoins on the exchange – USDT and USDC – Garner noted its quarterly rate of change is declining, potentially leading to lower prices for digital assets in the short term. Despite these concerns, Garner pointed out that Bitcoin has printed a higher high on the 8-hour chart, and the market structure remains bullish. Even if BTC dips to its range lows in the high $40k range, the overall price action is still considered positive. Garner suggested that should BTC hit its range of lows, traders and investors can consider buying at that price. Even if they are low on liquid cash, they must ensure they don’t get spooked by the market and panic-sell their current holdings. Another crypto analyst, Ali, seemed to echo Garner’s outlook, stating that Bitcoin is stuck in a descending parallel channel and runs the risk of sliding to channel lows of around $52,000. The analyst stressed that BTC must overcome the $66,000 level for a bullish breakout. Can Bitcoin Hit New All-Time Highs In 2024? With the remainder of 2024 ahead, Bitcoin bulls anticipate interest rate cuts by the US Federal Reserve (Fed) to fuel a new rally. However, BTC must clear several hurdles to sustain its bullish momentum. Related Reading: Bitcoin’s Puell Multiple Signals A Bullish Surge: Could A New ATH Be Near? Crypto analyst Carl Runefelt recently noted that BTC must overcome the $64,000 resistance level to trigger a rally in Q4 2024. Failure to break through this price level could lead to further downside. Further, Bitcoin’s price finally turned green in October, giving bulls hopes of another “uptober” for the asset, which was marked by significant price increases. BTC trades at $60,711 at press time, down 2.4% in the last 24 hours. Featured Image from Unsplash.com, Charts from X and TradingView.com
After weeks of significant volatility and uncertainty, Bitcoin is currently at a turning point. The recent Federal Reserve interest rate cut, coupled with the escalating conflict between Iran and Israel, has led to erratic price movements, causing traders to navigate a landscape filled with anxiety. Despite this tumultuous environment, key data from CryptoQuant indicates that […]
Bitcoin (BTC) is navigating through a storm of fear and uncertainty, with recent volatile price action causing significant shakeouts among traders and investors. Since August 24, BTC has experienced a sharp retrace of over 12%, plunging below the $60,000 mark—a crucial psychological level that often serves as a pivot point for both price action and […]
Bitcoin (BTC), the largest cryptocurrency in the market, has experienced a notable resurgence in its bullish momentum, with the Bitcoin price reclaiming the crucial $61,000 threshold. This recovery follows a week-long downtrend that led to a 20% drop to $56,000 on Wednesday. As the bullish momentum returns, the possibility of further testing upper resistance levels and reclaiming previously lost price levels grows stronger. Bitcoin Bulls Eye $68,000 According to market expert Justin Bennett, a recovery of the $61,000 resistance level would open up potential areas such as $67,000 to $68,000. However, at the present moment, this level continues to pose a significant resistance. Related Reading: Standard Chartered Bank Analysts Sound Warning Alarm: Bitcoin Price Can Still Drop To $50,000 Analyzing the recent correction in the Bitcoin price, analyst Crypto Con suggests that the market correction was necessary for the long-term price trajectory. The full retest of the 20-week Exponential Moving Average (EMA) support at $56,700 and the return to indicator support zones, such as the Directional Movement Index, indicate a healthy price consolidation. In addition to the technical indicators, on-chain and market data analytics firm CryptoQuant’s founder and CEO, Ki Young Ju, highlights the current bullish sentiment. According to their data, whales accumulated a significant amount of Bitcoin, totaling 47,000 BTC, within the past 24 hours. This increased accumulation by large investors further bolsters the positive outlook for Bitcoin’s price. Bitcoin Price Poised For Bullish Surge Crypto analyst Titan of Crypto has provided further bullish predictions for the Bitcoin price, suggesting that recent corrections have resulted in the grabbing of leverage longs liquidity. In addition, the Stochastic Relative Strength Index (RSI)on the 5-day chart is on the verge of crossing into bullish territory. This occurrence has historically been followed by an upward price movement in Bitcoin, leading to higher highs. Such a pattern has the potential to fuel renewed investor confidence and attract further buying pressure. Related Reading: Why This Crypto Bull Run Might Not Live Up To The Past: Analyst Another positive signal highlighted by Titan of Crypto is the recent buy signal generated by the Supertrend indicator, as seen in the chart below. This technical tool helps identify trends in an asset’s price movement. The buy signal, which occurred just three months ago, implies that Bitcoin may still have significant room for growth before reaching its cycle top. According to the analyst, historical data suggests that the average duration from the buy signal to the cycle top is approximately 19 months, indicating the potential for a sustained upward trend. Currently trading at $61,600, Bitcoin has seen a significant increase of 4.7% in the last 24 hours alone. It remains to be seen if BTC will successfully break above resistance levels, while also challenging the ability of previously retested support levels to withstand potential future downtrends. Featured image from Shutterstock, chart from TradingView.com