THE LATEST CRYPTO NEWS

Crypto analyst Melika Trader has warned about a bearish pattern that could be forming for the Bitcoin price. Based on this, the analyst predicts that the largest crypto by market cap could crash to as low as $78,000.  Bitcoin Price Forming Head And Shoulders Pattern  In a TradingView post, Melika Trader revealed that the Bitcoin price is forming a complex head-and-shoulders pattern. He remarked that the left shoulder and double head had already formed while the right shoulder is currently forming, with BTC at risk of suffering a massive crash once this happens.  Related Reading: Analyst’s Bitcoin Price Prediction From March Plays Out, Here’s The Rest Of It As part of the expected move, Melika Trader suggested that the Bitcoin price could show a possible fake breakout above the resistance between $87,000 and $88,000. Once that happens, the analyst predicts that a strong drop will follow, with BTC dropping to as low as $78,000, which is the first support area.  The Bitcoin price has surged past the $90,000 mark on the back of the US Dollar dropping to new lows and has continued to reach new highs, leading to optimism that it could soon reclaim $100,000. There is the possibility that BTC could still rally to as high as $98,000 before any massive correction.   Crypto analyst Ali Martinez revealed that on-chain data shows that the next key area of resistance for the Bitcoin price is between $95,600 and $98,290. That range acts as a major supply wall, as 1.65 million addresses bought 1.09 million BTC around that area. Bitcoin’s next move will depend on whether these holders choose to hold or offload their coins as soon as it reclaims this range.  However, it is worth mentioning that crypto whales are actively accumulating BTC, which is bullish for the Bitcoin price. Martinez revealed that over 17,000 BTC have been withdrawn from exchanges in the past week.  BTC Eyeing Rally To A New All-Time High Crypto analyst Titan of Crypto has predicted that the Bitcoin price could soon rally to as high as $137,000, marking a new all-time high (ATH) for the leading crypto. He stated that BTC has finally broken out of a bull pennant, with two strong consecutive daily bullish candles, confirming this move. The analyst added that the projected target is $137,000 if this bull pennant is confirmed.  Related Reading: Bitcoin Price Following Analyst’s Prediction For Bullish Breakout, Here’s The Target Crypto analyst Egrag Crypto stated that a daily close above $93,000 will send a strong bullish signal, while raising the possibility of BTC rallying above $100,000. He claimed that any retracement fears will be eliminated if the leading crypto closes above $103,000.  At the time of writing, the Bitcoin price is trading at around $93,000, up over 5% in the last 24 hours, according to data from CoinMarketCap. Featured image from Adobe Stock, chart from Tradingview.com

Bitcoin prices surged this week, increasing from $84,100 on Monday to $93,549 at the time of the most recent market update. This 6.5% increase over a 24-hour period occurs as the cryptocurrency is seen breaking its historical link with tech stocks, market analysts say. Related Reading: Bitcoin Rockets To Monthly Highs As Open Interest Explodes By Over $3 Billion Bitcoin And Gold Chart Different Paths From Traditional Markets Eric Balchunas, Bloomberg Senior ETF Analyst, noted that Bitcoin has performed better than treasury bonds, which he described as “unreliable” in current market trends. Gold also defied expectations, dropping 0.983 points while stocks fell. The precious metal recently reached a record high of $3,500 per ounce before it settled at approximately $3,400. Though Balchunas conceded the time period is short, he emphasized that the crypto must continue to “win” these short-term skirmishes to gain its position as an actual alternative asset. These small wins may ultimately put Bitcoin in front of global stocks, much like gold has done over time. Bitcoin up big yest when stocks down, showing negative correlation to stocks past week or so, better than treasuries (which are unreliable once again), altho gold is in league of own (-98). Obv a ridic small time frame but gotta get get these small wins if it ever wants to be… pic.twitter.com/JydPKuDRNA — Eric Balchunas (@EricBalchunas) April 22, 2025 ETF Money Flows Reach Highest Levels Since January As per Matthew Sigel, VanEck’s head of research, Bitcoin’s rally from its April 7 low has freed it from its historical correlation with US tech stocks. This is as Bitcoin Exchange-Traded Funds (ETFs) recorded their largest inflows since January 30, indicating increasing investor confidence. The timing of such inflows may be pivotal in maintaining Bitcoin’s present price rally. According to reports from market observers, without ongoing investment via these ETFs, the momentum may be lost. Bitcoin Surges As NASDAQ Stumbles Latest data pointed out a rare divergence between Bitcoin and the NASDAQ index. As Bitcoin prices rose, the NASDAQ struggled – a trend that never lasts long. When the NASDAQ’s 200-day moving average has declined in the past, the crypto generally encountered challenging market conditions. Today, Bitcoin is at its own 200-day moving average, but some analysts are thinking that this time may go differently if investment flows continue to be robust. Related Reading: Pi Network Frenzy Builds: $5 Prediction As Whales Take Out Millions Investor Sentiment Shows Signs Of Recovery Statistics show that sentiment towards investing in digital assets is getting better. The majority of fresh funds entering crypto during the last week went straight into Bitcoin, although mid-week retail activity led to $146 million in outflows. The recent price action of the cryptocurrency has been noticed as it implies Bitcoin could be settling in as an investment asset. While financial assets and technology stocks follow their own patterns in the market, current capacity for Bitcoin to do something different piques interest concerning whether it will play a long-term function. Featured image from PixelPlex, chart from TradingView

Bitcoin rose to $89,292 today, its highest since April 2, as traders injected funds into cryptocurrency markets. The top-ranked cryptocurrency rose 3.0% in 24 hours amid increased market activity, based on the latest market figures. Related Reading: Pi Network Frenzy Builds: $5 Prediction As Whales Take Out Millions Market Observers Notice Fundamental Shift In Bitcoin Activity CryptoQuant’s trading data reveals Bitcoin’s price increase coincided with an enormous $3.1 billion rise in open interest within one day. The sudden increase indicates a large number of traders are taking significant positions in the future price increases of Bitcoin. Open interest refers to the value of outstanding unsettled futures contracts on the market. The reversal follows a downward streak earlier this month as open interest declined from $29 billion to about $24 billion between March 22 and April 10. But the trend switched abruptly after April 10, with open interest rising consistently to hit $30 billion on April 21 – the highest level since early February. Options Trading Volume Soars By More Than 300% Bitcoin’s options market also experienced even more sensational changes. Options market volume surged by 347% to $3.57 billion. Meanwhile, options open interest increased by 3.80% to $32.30 billion. These figures indicate traders either hedging their positions or betting on larger price fluctuations in the future. The long to short position ratio now is 1.06, indicating somewhat more traders are bullish than bearish. Whale Investors Continue Steady Accumulation Behind the day-to-day market action, bigger investors referred to as “whales” have been quietly accumulating more Bitcoin. Based on figures from CryptoQuant, whale balances increased from 3.38 million BTC on January 1 to 3.50 million BTC as of April 20. Though the 30-day high of 3.50 million BTC was reached, the increase in whale holdings in the last month was only 0.62%. This consistent accumulation by large investors indicates that some big investors still have faith in the long-term prospects of Bitcoin despite short-term fluctuations in prices. Price Recovery Indicates Market Resilience The surge to more than $89,000 is a good omen for Bitcoin after it had remained at around $84,400 the day before. The 3.60% weekly price increase indicates a possible return of buying pressure. Market analysts explain that growth in open interest amid a price rise trend is generally seen as bullish. When money enters the market while prices are rising, it tends to signal increasingly high confidence on the part of traders. Related Reading: XRP Price Prognosis: Analyst Sees $14 In Spite Of Current Troubles But the rapid growth in speculating with borrowed money also increases the potential for steeper price fluctuations in the future. If sentiment in the markets changes rapidly, heavily leveraged positions have the potential to create a waterfall of forced buying or selling, potentially magnifying future price changes in either direction. Featured image from Unsplash, chart from TradingView

Bitcoin price is moving higher above the $92,500 zone. BTC is gaining pace and might continue higher above the $94,000 zone in the near term. Bitcoin found support at $88,000 and started a decent upward move. The price is trading above $90,500 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $90,150 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it clears the $94,000 zone. Bitcoin Price Gains Over 10% Bitcoin price remained stable above the $85,000 level and started a fresh increase. BTC was able to climb above the $88,000 and $90,000 resistance levels. The bulls were able to pump the price above the $92,000 resistance. It even spiked and tested the $94,000 resistance zone. A high is formed near $93,888 and the price is consolidating gains above the 23.6% Fib retracement level of the upward move from the $86,400 swing low to the $93,888 high. Bitcoin price is now trading above $91,500 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $90,150 on the hourly chart of the BTC/USD pair. On the upside, immediate resistance is near the $93,500 level. The first key resistance is near the $94,000 level. The next key resistance could be $95,000. A close above the $96,500 resistance might send the price further higher. In the stated case, the price could rise and test the $97,500 resistance level. Any more gains might send the price toward the $98,000 level. Downside Correction In BTC? If Bitcoin fails to rise above the $94,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $92,000 level. The first major support is near the $91,500 level. The next support is now near the $90,150 zone, the trend line, and the 50% Fib retracement level of the upward move from the $86,400 swing low to the $93,888 high. Any more losses might send the price toward the $88,800 support in the near term. The main support sits at $87,500. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $92,000, followed by $90,150. Major Resistance Levels – $94,000 and $95,000.

After months of bullish momentum that pushed the Bitcoin price to an all-time high of over $109,000 earlier this year, analysts are now debating whether that surge marked the official market top. Strengthening this argument, a confluence of technical indicators suggests the market cycle may have already peaked—most notably, the behavior of the Market Value to Real Value (MVRV) Z-Score reinforces this view.  MVRV Z-Score Shows Bitcoin Price Has Topped A new technical analysis by crypto analyst Tony Severino, which combines MVRV Z-Score and monthly Relative Strength Index (RSI), is flashing warning signs that Bitcoin‘s market top may already be in.  Related Reading: Bitcoin Price Bullish Confirmation: What Needs To Happen For Next Leg Up To $130,000 Looking at the logarithmic price chart, Bitcoin’s MVRV Z-Score has broken below a long-standing uptrend support line. This pattern is significant, as the Z-Score has always respected the uptrend support lines during bull markets, with similar breaks only emerging after Bitcoin reaches an official market top. Notably, this isn’t the first time Bitcoin has displayed such a trend behavior. Similar support line breaks occurred before BTC’s market peaks during the 2017 and 2021 bull cycles. The bearish argument that Bitcoin may have already reached a price peak is further strengthened by the visual correlation between the Z-Score and Bitcoin’s monthly RSI, which is shown by a black line on the chart.  In past cycles, Bitcoin’s RSI fell below 70 twice, indicating fading momentum and weakening price action. Historically, such moves below the 70 level occur shortly after price tops, not before.  Even more compelling, the RSI-based Moving Average (MA), highlighted by the orange line on the chart, is now curling downwards. This subtle but strong signal has only appeared in past cycles after the market has already topped, serving as a confirmation rather than a prediction.  Taken together, these technical indicators and historical trends strongly suggest that Bitcoin’s $109,000 peak may have marked the top of this market cycle. In line with previous post-top bull market behavior, Bitcoin could now be on the verge of entering a prolonged bear market. This bearish outlook is reinforced by recent steep price corrections, reduced investor confidence, and a clear shift in market sentiment toward caution and uncertainty.  Bulls Attempt To Reverse Bitcoin Bearish Outlook In another of his most recent analyses of Bitcoin, Severino revealed that bulls appear to be pushing for a price recovery. The analyst acknowledged that his previously dominant bearish narrative of Bitcoin may soon see a significant shift if bulls can sustain momentum into April’s monthly close.  Related Reading: Is The Bitcoin Open Interest Too High Or Can The BTC Price Still Rally? According to the presented chart, Bitcoin is now testing a key area of interest while simultaneously showing early bullish signs of reversing the bearish crossover on the monthly long-term Moving Average Convergence Divergence (MACD). Adding to the intrigue, the possible formation of a Morning Star candlestick pattern reinforces the possibility of a bullish reversal for Bitcoin.  Notably, similar chart setups occurred in 2022 and mid-2023, both of which marked major turning points for Bitcoin’s long-term outlook. If the cryptocurrency manages to close April with a complete Morning Star pattern, it could force a reevaluation of bearish expectations. Featured image from Adobe Stock, chart from Tradingview.com

US financial markets plunged Monday while cryptocurrency prices remained firm, as US President Donald Trump ramped up his public feud with Federal Reserve Chairman Jerome Powell, The Guardian and other news outlets reported Tuesday. The clash between the country’s highest political and monetary leaders shook traditional markets to their core but left crypto surprisingly unscathed. Related Reading: Shiba Inu Sees $120 Million Weekly Surge—Whales Tighten Their Grip Stock Markets Plummet After Presidential Remarks American stock indices closed forcefully lower on April 21, with broad losses at major benchmarks. The S&P 500 declined 2.3%, the tech-dominated Nasdaq lost 2.4%, and the Dow Jones Industrial Average plummeted by almost 1,000 points, down 2.4%, based on Google Finance data. JUST NOW: President Trump calls Jerome Powell a “major loser” and demands interest rates lowered “now” pic.twitter.com/rAM7CVmPw2 — Morning Brew ☕️ (@MorningBrew) April 21, 2025 Trump Calls For Rate Cuts And Slams Fed Chair Underlying the market volatility is a rapidly intensifying clash between President Trump and Federal Reserve Chairman Powell. Trump used his April 21 Truth Social forum to post that “Preemptive Cuts in Interest Rates are being called for by many.” The President contended rate cuts are warranted because “Energy Costs [are] way down, food prices [are] substantially lower, and most other ‘things’ [are] trending down,” asserting “there is virtually No Inflation.” Trump has repeatedly criticized Powell, calling him “Too late and wrong” for not cutting interest rates, which remain at 4.5%. Tensions rose after Powell warned that Trump’s tariffs could cause stagflation, prompting the president to demand his removal, saying his “termination cannot come fast enough.” Dollar Weakens While Crypto Shows Strength As the political conflict rages on, the US Dollar Index (DXY), which tracks the greenback relative to other significant currencies, dipped below 98 on April 21, recording a three-year low. This follows a falling trend that has had the dollar drop over 10% of its value since the start of 2025, latest data shows. Bitcoin Unfazed Amid Political Turmoil In stark contrast to traditional markets, cryptocurrencies have maintained their weekend gains. The total cryptocurrency market capitalization, based on TradingView data, remained steady at $2.74 trillion. Bitcoin price, according to data from Coingecko, hit a four-week high of $88,428. Why is the price of bitcoin flat? Should Trump fire Jerome Powell? Will The US lose reserve currency status? I answer your questions ???? pic.twitter.com/S7Q6hANR3H — Anthony Pompliano ???? (@APompliano) April 18, 2025 Industry Figures Warn Vs. Political Interference Cryptocurrency businessperson Anthony Pompliano warned against presidential intervention in the Federal Reserve leadership. In a video he uploaded on X on April 18, Pompliano declared that he does not believe that Trump should come in and unilaterally fire the Fed chair. Related Reading: Pi Network Frenzy Builds: $5 Prediction As Whales Take Out Millions He further stated that policy disagreement firings would lead the nation into perilous waters: “Where you have a disagreement and then the firing, I think that’s not really the area that we want to go into.” Market experts believe the central bank will hold steady at its next meeting on May 7. According to data, interest rate markets now forecast only a 13% probability of a rate reduction at that session. Featured image from Chip Somodevilla/Getty Images. chart from TradingView

Strategy, formerly known as MicroStrategy, the now Bitcoin proxy firm founded by Bitcoin (BTC) bull Michael Saylor, made headlines once again on Monday by acquiring an additional 6,556 BTC, bringing its total BTC holdings to an impressive 538,200 BTC.  This latest purchase, amounting to approximately $556 million at an average price of $84,785 per Bitcoin, comes amid increasing market volatility, mainly characterized by BTC’s inability to surpass the $90,000 mark since early March of this year.  Strategy’s Bitcoin Holdings Surge Since Saylor first championed Bitcoin as a reserve asset in 2020, the cryptocurrency has surged by approximately 987.94% from January 2020 to April 2025. This reflects the increasing acceptance of Bitcoin in the corporate world but also highlights Saylor’s foresight in recognizing its potential as a store of value. Related Reading: Dogecoin Stalls After 42 Days Of Flat Price Action — Is A Breakdown Coming? In a recent post on X (formerly Twitter), Saylor confirmed that Strategy’s latest acquisition of 6,556 BTC was part of a broader strategy to capitalize on Bitcoin’s growth.  With a year-to-date BTC yield of 12.1% in 2025, the company’s commitment to Bitcoin is more than just an investment; it represents a strategic shift in how corporations view digital assets.  As of April 20, 2025, Strategy holds its BTC at an aggregate purchase price of around $36.47 billion, with each Bitcoin acquired at approximately $67,766. MSTR Stock Soars 163% In A Year Strategy’s stock, MSTR, trading at $317.20, has seen a modest day-over-day increase of 1.78%. With a total market cap of $84.7 billion and an enterprise value of $94.5 billion, the company’s valuation continues to benefit significantly from its Bitcoin strategy.  Notably, as Bitcoin prices have risen, the net asset value (NAV) of its Bitcoin holdings has climbed to $47.03 billion, reflecting a daily increase of $1.19 billion or 2.60%. Strategy’s bet on Bitcoin has also proven to be remarkably lucrative. Over the past year, MSTR stock has risen by approximately 163%, driven largely by the appreciating value of Bitcoin.  Related Reading: XRP Wyckoff Pattern Maps Bullish Run To $3.70 This Summer The fact that the Bitcoin method has yielded a total return of 2,400% is even more remarkable. This suggests that the first investments of those who saw the potential in Strategy’s Bitcoin strategy might see a return of over 24 times their initial investment. Nevertheless, as reported by NewsBTC, an accounting rule that requires digital assets to be evaluated at market prices would cause Strategy to record an unrealized loss of $5.9 billion for the first quarter of the year. As part of its aggressive acquisition strategy, which has included nine acquisitions during this period, the business allegedly spent $7.79 billion on Bitcoin in the same quarter. At the time of writing, BTC trades at $86,900, registering a 3.3% surge in the weekly time frame.  Featured image from DALL-E, chart from TradingView.com

Bitcoin price is moving higher above the $87,500 zone. BTC is gaining pace and might continue higher above the $88,800 zone in the near term. Bitcoin found support at $85,000 and started a decent upward move. The price is trading above $87,500 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $87,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it clears the $88,800 zone. Bitcoin Price Eyes More Upsides Bitcoin price remained stable above the $84,200 level and started a fresh increase. BTC was able to climb above the $85,500 and $86,200 resistance levels. The bulls were able to pump the price above the $88,000 resistance. It even spiked and tested the $88,800 resistance zone. A high is formed near $88,800 and the price is consolidating gains above the 23.6% Fib retracement level of the upward move from the $86,400 swing low to the $88,800 high. Bitcoin price is now trading above $87,500 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $87,300 on the hourly chart of the BTC/USD pair. On the upside, immediate resistance is near the $88,600 level. The first key resistance is near the $88,800 level. The next key resistance could be $89,500. A close above the $89,500 resistance might send the price further higher. In the stated case, the price could rise and test the $90,500 resistance level. Any more gains might send the price toward the $92,000 level. Downside Correction In BTC? If Bitcoin fails to rise above the $88,800 resistance zone, it could start a downside correction. Immediate support on the downside is near the $88,000 level. The first major support is near the $87,600 level and the 50% Fib retracement level of the upward move from the $86,400 swing low to the $88,800 high. The next support is now near the $86,800 zone. Any more losses might send the price toward the $86,400 support in the near term. The main support sits at $85,500. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $88,000, followed by $87,600. Major Resistance Levels – $88,800 and $89,500.

China has added five tonnes of gold to its reserves in under a month as part of an increasing aggressive purchase of the precious metal. Bitcoin continues to stand firm above the $87,000 level despite recent market fluctuations. Related Reading: Today’s $1K XRP Bag May Become Tomorrow’s Jackpot, Crypto Founder Says PBOC Gold Accumulation Up As Bitcoin Price Soars According to the Kobeissi Letter in posting messages on X, the People’s Bank of China has been abruptly accumulating gold. It has acquired five tonnes over the last month. This has taken place amid uncertainty in global markets from the rift caused by persistent tensions in trade along US-China fronts. Bitcoin traders seem to witness this, as the price of the crypto holds strong at $87,280, with scanty negative macronews in the background. Merely four days ago, cryptocurrencies fell back after US President Donald Trump proclaimed a 245% import tax on Chinese items. The quick recovery has surprised many market observers. BREAKING: China’s central bank increased its gold holdings by 5 tonnes in March, posting their 5th consecutive monthly purchase. This brings total China’s gold reserves to a record 2,292 tonnes. Chinese gold holdings now reflect 6.5% of its total official reserve assets.… pic.twitter.com/LuwiBvnirn — The Kobeissi Letter (@KobeissiLetter) April 20, 2025 Whale Wallets Indicate Growing Appetite For Bitcoin Statistics by Glassnode indicate a steep increase in addresses containing over 1,000 Bitcoin. More than 60 new “whale” wallets have entered the market since early March. The number of such large Bitcoin addresses has increased from 2,030 in late February to 2,100 as of April 15, which is the highest in four months. The boost indicates large investors are purchasing more Bitcoin despite changing market conditions. Others say the strength of Bitcoin lies in its increased popularity as an inflation hedge, akin to gold. This theory has become more widely accepted as China seems to be steering away from US dollar-denominated assets. Gold Prices Hit New Records As Trade Tensions Mount Prices of gold have surged to $3,401, up by close to $100 over only a week. The rise comes as institutions, dominated by China, raise their gold stockpiles. The ongoing tariff war between the US and China has driven investors towards traditional safe-haven assets. Bitcoin is also seen to be gaining from this same trend, with some investors seeing it as a contemporary option for gold in times of uncertainty. Mixed Signals From ETF Flows And Market Analysts Not everything is rosy for Bitcoin. Reports disclose that nearly $5 billion has exited Bitcoin ETFs since their aggregate flow hit all-time highs. In spite of this outflow, Bitcoin’s price has remained extremely stable. Related Reading: Whales Swallowing Bitcoin Fast — Will This Push BTC Price Up? There are also contradictory reports regarding China’s position on Bitcoin. While there are rumors that China may be accumulating a Strategic Bitcoin Reserve, other reports say the nation sold 15,000 BTC on offshore exchanges. The cryptocurrency’s ability to maintain its price despite these mixed signals has caught the attention of traders worldwide. As US-China economic tensions continue, investors are watching both gold and Bitcoin as potential safe havens in an increasingly unstable global market. Featured image from GEPL Capital, chart from TradingView

A Bitcoin price prediction made exactly one month ago by popular crypto analyst Doctor Profit on social media platform X has unfolded with interesting accuracy. On March 21, Doctor Profit outlined a detailed price trajectory for Bitcoin, predicting specific price movements, resistance and support zones, and the influence of the M2 money supply. Fast forward to April 21, Bitcoin’s price movements have closely mirrored the analyst’s forecast, lending credibility to the remaining parts of his prediction. How Bitcoin Followed Doctor Profit’s March Forecast Doctor Profit’s analysis is based on Bitcoin’s response to changes in the M2 money supply, which he identified as a misunderstood indicator. He argued that although the market experienced an increase in liquidity starting in February, Bitcoin’s significant bullish rally from September 2024 onwards had already factored in this liquidity expansion, contrary to what most investors had expected. Related Reading: Bitcoin Price To Break $125,000 But Sell Everything In October, Analyst Warns Notably, Doctor Profit had previously highlighted a key technical level, the weekly EMA 50, also known as the Golden Line, at approximately $76,000. He expected a bounce from this level, projecting a move to the $87,000 to $88,000 region before another correction. Bitcoin followed this script almost exactly, crashing in the first few days of April before rebounding from around $76,000 on April 9. Now, Bitcoin has rallied back above $87,000, coinciding precisely with Doctor Profit’s prediction. Next Phase: Bitcoin Heading For Support Zone At $70,000 To $74,000 Now that Bitcoin has bounced and is trading above $87,000 again, Doctor Profit’s immediate next target is a potential crash towards $74,000 to $70,000, which is slightly below the highlighted Golden Line. According to the analyst, the market’s behavior at this support zone will be decisive. It is at this zone that the Bitcoin price will reveal its next major directional bias.  Related Reading: Bitcoin Enters Oversold Levels, Analyst Warns This Is Bearish, Not Bullish Doctor Profit laid out two clear scenarios based on Bitcoin’s reaction within the $74,000 to $70,000 price range. If Bitcoin experiences only a temporary wick into this range and manages a strong daily or weekly close back above the Golden Line, this would signal a reversal, and it would be prudent to close short positions and begin accumulating long positions. However, if Bitcoin closes below this crucial area, it could trigger a deeper bearish move, leading its price to significantly lower levels, possibly revisiting the $50,000 region under a worst-case Black Swan scenario. Notably, whichever bearish scenario plays out, it is expected to occur by April and likely into early May. Despite the current short-term bearish outlook, Doctor Profit maintained a bullish long-term view. He confidently predicted that the Bitcoin bull run would resume around May or June, eventually driving the price towards new all-time highs in the range of $120,000 to $140,000. At the time of writing, Bitcoin is trading at $87,526, up by 3.28% in the past 24 hours. The bearish outlook towards $74,000 would only be invalidated if Bitcoin successfully closes a weekly candle above the $100,000 level. Featured image from Adobe Stock, chart from Tradingview.com

The Bitcoin price continues to trend low and has failed to reclaim $90,000. The bears have dominated during the last few months, dragging Bitcoin down from above $100,000 to below $80,000, before the bounce to $83,000. Now, these developments have triggered doubts in the minds of investors as to whether the bull run might be over. However, there could still be some hope for the leading cryptocurrency that could see a restart of the bull market. Bitcoin Needs To Properly Clear $86,190 Crypto analyst RLinda on the TradingView website has explained that the Bitcoin price is beginning to show some positive signs after crashing over 20% from its all-time high price. However, even these positive trends are not enough to suggest that there is a break in the downtrend, especially as there are still major levels left for the cryptocurrency to reclaim before a proper breakout can be confirmed. Related Reading: Solana Price At Crossroads: $129 Support, $144 Resistance Set Stage For Next Big Move The Bitcoin price has shown some strength, especially since reclaiming the $80,000 level. This strength, the analyst said, is being driven by the localized growth in indices, as well as talks and expectations that the Fed might lower interest rates. All of this is coming in the middle of a brutal tariff war being fought between the United States and China that has been the main driver of the crashes that the crypto market has suffered. With the current recovery, the Bitcoin price is facing a critical level that could determine the next course of action. The main point is the $86,190 resistance, which the cryptocurrency must conquer, especially for bulls looking for confirmation of the recovery. As the crypto analyst explains, the BTC price is now moving beyond the resistance of the descending channel, with consolidation ahead of the $86,190 level. Therefore, if Bitcoin is able to properly clear this resistance, then further increases are on the horizon. Once beaten, the next major resistance then lies at $88,800. This suggests that there is still a long way for bulls to go before even reclaiming the $90,000 level once again. Downside Could Persist For Longer While hope lies above $86,190 for Bitcoin investors, there is still the possibility that the price falls further if the resistance is not cleared. If bears are able to beat back the price, then support levels begin to lie lower and lower. Related Reading: Dogecoin Price Closes In On Major Trendline For Breakout To $1 From the present levels, the crypto analyst says the first support lies at $83,170. With this point beat, the next major support is below $80,000 at $78,170. This would send it back toward March 2025 lows. “But, regarding 88800 we will have to watch the price reaction,” RLinda said. “A sharp approach with the purpose of primary testing of the level may end in a false breakout and correction.” Chart from Tradingview.com

This Sunday, the market’s leading cryptocurrency, Bitcoin (BTC), has once again crossed the $87,000 mark, following what analysts describe as a healthy correction that brought prices down to $74,000 earlier this month.  In a recent post on social media platform X (formerly Twitter), crypto analyst Doctor Profit provided a comprehensive analysis of the current price action, outlining what investors can expect moving forward. Expert Outlines Critical Price Levels For BTC Doctor Profit opened his analysis by revisiting the two potential outcomes he had outlined a month prior. The first scenario involved a healthy correction to the $70,000 to $74,000 range, which played out exactly as anticipated.  The second scenario was a more severe downturn, a “Black Swan” event, that could see Bitcoin dropping to the $50,000 to $60,000 range. Importantly, he identified a critical threshold—the “Golden Line”—currently situated at $77,000.  Related Reading: Solana Price Surges Toward $140 — Here’s The Resistance Level To Watch This level has proven resilient since the bull run began in early 2023, and as long as Bitcoin remains above it, Doctor Profit believes the potential for a crash scenario is off the table. The analyst noted that Bitcoin is currently facing challenges in breaking through the “Hammer Line,” a critical resistance level. Historically, whenever Bitcoin has approached this line, it has faced immediate rejection. However, with strong support at the Golden Line, Doctor Profit is prepared for two potential scenarios.  Bitcoin Potential Breakout Scenarios If Bitcoin can break above the Hammer Line, he plans to close his short position from $90,000 and maintain his spot position acquired at $77,000. Conversely, if Bitcoin dips back to the $77,000 level, he intends to purchase more, having already set limit orders to capitalize on this price point. Looking ahead, Doctor Profit predicted that Bitcoin would likely continue to trade sideways within the range of the Hammer Line and Golden Line, specifically between $77,000 and $85,200. However, with Sunday’s spike, the Golden Line has been broken for the moment, pending a consolidation above it. However, several bullish triggers remain on the horizon, including potential agreements between the US and China, possible Federal Reserve rate cuts, and an increase in M2 liquidity. Related Reading: Shiba Inu Sees $120 Million Weekly Surge—Whales Tighten Their Grip In the mid to long term, Doctor Profit believes Bitcoin is more likely to break out above the Hammer Line than to fall below the Golden Line. He cautioned against trading within the dangerous zone between these two critical levels, labeling it a “forbidden zone.”  A breakout above the Hammer Line would signal the end of the correction and a renewed ascent toward new all-time highs, while a breakdown below the Golden Line could indicate a significant shift in market sentiment and the onset of a deeper correction. While trading just above $87,200, BTC registers a nearly 4% surge in the weekly time frame.  Featured image from DALL-E, chart from TradingView.com 

Bitcoin price is slowly moving higher above the $86,500 zone. BTC is gaining pace and might continue higher in the near term. Bitcoin found support at $84,200 and started a recovery wave. The price is trading above $85,500 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend line with resistance at $85,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it clears the $88,000 zone. Bitcoin Price Eyes Steady Increase Bitcoin price remained stable above the $83,200 level and started a fresh increase. BTC was able to climb above the $84,200 and $85,000 resistance levels. There was a break above a connecting bearish trend line with resistance at $85,000 on the hourly chart of the BTC/USD pair. The bulls were able to pump the price above the $86,500 resistance. It even spiked above $87,000. A high is formed near $87,562 and the price might continue to rise unless there is a move below the 23.6% Fib retracement level of the upward move from the $84,007 swing low to the $87,562 high. Bitcoin price is now trading above $86,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $87,500 level. The first key resistance is near the $88,000 level. The next key resistance could be $88,800. A close above the $88,800 resistance might send the price further higher. In the stated case, the price could rise and test the $89,500 resistance level. Any more gains might send the price toward the $90,000 level. Downside Correction In BTC? If Bitcoin fails to rise above the $88,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $87,000 level. The first major support is near the $86,750 level. The next support is now near the $86,000 zone. Any more losses might send the price toward the $85,750 support or the 50% Fib retracement level of the upward move from the $84,007 swing low to the $87,562 high in the near term. The main support sits at $84,850. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $86,750, followed by $86,000. Major Resistance Levels – $87,500 and $88,000.

Bitcoin has spent the past seven days trying to hold near $85,000, with a trading range between $83,200 and $86,000. Buying momentum has turned positive in the past 24 hours, but an interesting technical analysis of the current price action points to a looming downside risk. Related Reading: BNB Weathers The Storm Better Than Altcoins, Stats Show Crypto analyst Xanrox laid out a bearish case for Bitcoin in an analysis on the TradingView platform, arguing that the ongoing falling wedge pattern, often seen as a bullish indicator, may actually be a calculated trap set by whales. According to his analysis, Bitcoin could crash to $67,000 before another strong move upwards. Bitcoin’s Falling Wedge That Might Not Be Bullish After All Xanrox’s main argument centers on the widespread belief that falling wedges are bullish reversal patterns. Although this is often true when the wedge forms at the start of a trend, the current wedge is forming at the end of a broader trend, which is a different scenario altogether. The daily candlestick timeframe chart shows the Bitcoin price moving inside a clean wedge structure while trading well below the 20, 50, 100, and 200 daily moving averages. This setup, according to Xanrox, paints the picture of a clear downtrend rather than a setup for a reversal. The bearish outlook is not just about chart patterns; it’s also about market psychology and the mechanics of liquidity. Such a setup is likely being exploited by whales in institutions and banks with enough liquidity to influence price action.   These whales need retail buyers to create enough volume for them to offload or accumulate positions. By painting the illusion of a breakout, they can push retail participants into a false sense of opportunity, only to reverse the market and trigger stop losses across the board. This outlook plays into the growing notion that Bitcoin is increasingly becoming more of an asset among institutions, primarily due to the rise of Spot Bitcoin ETFs. Chart Image From TradingView: Xanrox 20% Price Move For Bitcoin This Week Xanrox predicted a 20% move for Bitcoin this week. A 20% move to the upside from the current $85,000 range would see Bitcoin trading back above $100,000 and somewhere around $102,000. However, this predicted 20% move isn’t an upside move but a downside move. Particularly, the analyst identified $67,000 as the level Bitcoin is most likely to test in the coming weeks.  The $67,000 price level is the primary target if the current wedge fails as expected, as it is the major support on the way down if $75,000 is broken.  Related Reading: Today’s $1K XRP Bag May Become Tomorrow’s Jackpot, Crypto Founder Says Even if the predicted 20% downside move fails to materialize this new week, there is still the possibility of the move taking place in the coming weeks. The analyst suggests Bitcoin may attempt to retest the upper zone between $108,000 and $91,000 before heading lower. At the time of writing, Bitcoin was trading at $84,280. Featured image from Pexels, chart from TradingView

The Bitcoin market has shown high volatility in April, having produced similar levels of gains and losses over the past three weeks. Amidst the choppy price action, Bitcoin whales appear to be increasing their holdings, perhaps in anticipation of future price gains. Related Reading: Bitcoin Ready To Reclaim $90,000? BTC’s ‘Next Big Move’ Could Come Next Week Bitcoin Whales Add 53,600 BTC, Now Hold 68% Of Supply In an X post on April 18, prominent blockchain analytics firm Santiment has provided valuable insight on the recent behavior of the major Bitcoin stakeholders. Despite the BTC market still displaying significant levels of uncertainty, Santiment reports a strong confidence level among investors holding between 10 and 10,000 BTC. The analytics firm states that these key Bitcoin holders have accumulated 53,600 BTC from March 22, and now control 67.77% of Bitcoin in circulation. During the period of this accumulation spree, the BTC market has failed to establish a clear price direction with significant swings in either direction mediated by periods of tight consolidation. Notably, BTC dropped by 13% in early April, twice retesting the $74,000 support level before rebounding to reach a high of $88,000 on April 15. Since then, it has entered a consolidation phase, fluctuating within a range of $83,000 to $86,000. The ongoing accumulation trend among Bitcoin whales amid this price uncertainty signals growing market confidence, as major holders appear to be positioning for a potential rally. For retail traders, this behavior serves as a strong bullish indicator, suggesting that there is sufficient underlying demand to drive and sustain further price appreciation. Related Reading: Chainlink Price Continues To Hover Around $12.5 — Levels To Watch What Next For Bitcoin? Following the inauguration of US President Donald Trump in January, Bitcoin has fallen victim to the macroeconomic factors as new tariff policies have caused significant market panic among investors. Since hitting an all time high around $109,000 on January 20, the premier cryptocurrency slipped into market correction to trade as low as $74,000 on April 7 and 9. Notably, the premier cryptocurrency produced a price rebound from these market lows, as the US Government announced a 90-day new tariff pause. However, the ongoing consolidation that has lasted over the past week indicates the lack of a bullish market catalyst. Bitcoin enthusiasts will hope for positive developments, including a potential Federal Reserve rate cut following recent pressure from Trump. For multiple analysts, Bitcoin must cross the $91,000 resistance to validate any potential for a sustainable bullish uptrend. If this price gain occurs, the leading cryptocurrency is tipped for a return to its all-time high and perhaps new price discovery. At press time, Bitcoin continues to trade at $85,226, reflecting a price gain of 0.72% in the past day. Featured image from Pexels, chart from Tradingview

Popular crypto analyst Tony Severino has shared a bold take on the current Bitcoin (BTC) market structure. The chartered market technician has stated that the Bitcoin bull market remains active unless the price falls below a specific level.  Notably, Bitcoin saw a heavy correction after hitting a peak price of $109,000 in January. Over the last three months, the premier cryptocurrency has traded as low as $74,000, representing a devaluation of over 32.5%. Although there has been a notable price bounce in April, an ever-present market uncertainty means speculation remains abound on the viability of the present bull cycle. Related Reading: Bitcoin Dominance At Risk Of Crash To 40%, Why This Is Good For Ethereum, XRP, And Altcoins $49,000 As Key Price Level For Bitcoin – Here’s Why In an X post on April 18, Severino has identified the $49,000 price region as the make-or-break zone for the Bitcoin market.  With the help of a weekly trading chart, Severino highlights that Bitcoin remains on an ascending trendline stretching as far back as Q3 2023.  An ascending trendline represents a sustained uptrend in price action, typically confirmed by the formation of successive higher highs and higher lows. It typically demonstrates a persistent buying pressure and sufficient underlying demand, thus ensuring a prolonged price rally. Generally, the higher lows reflect the strength of an ascending trend. Therefore, any fall below the previous higher low undermines the bullish momentum and indicates a likely change in market sentiment.   According to Severino’s chart, the last higher low on Bitcoin’s ascending trendline stands at $49,140. Therefore, this level represents a key support region, any price fall below which would invalidate the present bull run and signal a new market cycle.  At the time of writing, Bitcoin remains in consolidation trading between $83,000 and $86,000 as seen over the past week. The market appears to be finding stability with accumulation now on the rise.  Amid the US 90-day pause on new tariffs, the likelihood of a sharp downside catalyst is relatively low. However, the potential for a decisive price breakout remains uncertain, as broader market sentiment continues to face key resistance barriers at $86,000 and $91,000 price regions. Related Reading: Brace For Impact: Dogecoin May Plunge Before Skyrocketing 400%—Analyst Bitcoin Price Forecast At press time, Bitcoin is trading at $85,312, reflecting a price gain of 0.91% in 24 hours. Interestingly, the asset’s trading volume is up 19.77% and valued at $15.26 billion. According to price prediction firm Coincodex, market sentiment among investors is neutral. However, there remains a significant level of caution with the Fear & Greed Index standing at 37. In forecasting Bitcoin fortunes, Coincodex anticipates a full bullish market reversal with projections of $108,296 in five days and $111,236 in a month. Featured image from Adobe Stock, chart from Tradingview

Over the past trading week, Bitcoin (BTC) failed to make any significant price breakout, experiencing rejections at the $86,000 price region. While the market suffered no major price pullback, the high level of sideways price movement indicates a strong investor uncertainty. Interestingly, popular market analyst with X username Daan Crypto has provided an insightful technical analysis on the BTC market, highlighting the present barriers that are restricting an upward price movement. Related Reading: Bitcoin In Peril? Expert Warns Of China’s Alleged Scheme To Crash BTC To $40,000 Bitcoin Multiple Barriers: 200-Day EMA, 200-Day MA, And Diagonal Trendline In Focus Since hitting a new all-time high in late January, Bitcoin has slipped into heavy correction, losing over 22% of its market price. The majority of the price loss has been linked to international trade tariff crises, which have forced investors to seek relief in less risky assets. However, a pause in new tariffs and an onset in global negotiations soon accompanied a price rebound seen in early April. Albeit, Bitcoin is now struggling to break out of the $84,000-$86,000, forming a tight consolidation range. In performing a technical analysis on the current BTC market, Daan Crypto has identified the three resistance factors that have been active in the specified price zone.  The first price opposition is a diagonal downtrend line formed by Bitcoin’s consistent lower lows and lower highs amidst the price correction in the past three months. To establish any intent of a trend reversal, Bitcoin bulls must force a convincing price breakout above this long-standing diagonal resistance.  Other critical indicators are the 200-day Exponential Moving Average (EMA) and 200-day Simple Moving Average (MA), both of which provide an average of the past 200 days’ prices, with the EMA giving more weight to recent prices.  The 200-day EMA is important in spotting medium-to-long-term trend changes as it reacts faster to any price change than the 200-day MA, which is a classic long-term indicator. However, Bitcoin must move above both indicators to break out of its consolidation and perhaps experience a full price recovery. Related Reading: Solana Price Enters Consolidation Trend Above $130 That Could End In A Breakout Bitcoin Ultimate Resistance At $90,000-$91,000  Despite Bitcoin’s struggles in the $84,000-$86,000 price zone, Daan Crypto has warned that the asset’s ultimate test of a price reversal is at the $90,000-$91,000 price range, which served as a key support in the earlier phase of the bull cycle. A successful reclaim of this range would place Bitcoin back into the bullish trading zone, signaling a potential resumption of the broader bull market. At press time, BTC continues to trade at $84,868 following a 0.13% gain in the past day. Meanwhile, the daily trading volume is down by 42.34% and valued at $12.52 billion. Featured image from iStock, chart from Tradingview

Large investors are buying Bitcoin at record levels, which may be the precursor to a price explosion. Recent statistics indicate that these large holders, or “whales,” are acquiring around three times the amount of daily Bitcoin produced by miners as the cryptocurrency sits at key price levels. Related Reading: Bitcoin Dominates Q1: Altcoin Season Nowhere In Sight—Report Whales Purchase At Record Levels While Exchanges Witness Outflows According to Glassnode information, investors possessing between 100 and 1,000 Bitcoins are buying up the cryptocurrency aggressively. These giant holders are at present taking on over 300% of the annual supply emission of Bitcoin. Meanwhile, large crypto exchanges are seeing steady outflows of Bitcoin. This indicates that increasing numbers of whales and large holders are taking their assets to long-term storage instead of leaving them on hand for trading. Market observers view this exodus from exchanges as a sign of improving confidence in the long-term worth of Bitcoin. Most of these large investors have persisted in buying when prices drop, viewing downturns as opportunities to increase their positions rather than sell. Onchain analysts have reported that this activity is reminiscent of trends during Bitcoin’s 2020 bull cycle. Technical Indicators Reflect Key Resistance Points Bitcoin is now testing its 50-day and 200-day exponential moving averages as points of resistance. Based on previous examination by analysts, these levels are approximately $85,500. A pullback could occur if Bitcoin does not manage to breach the technical barriers. The next important support lies at about $80,000 on the upper trendline of the current wedge formation. A narrow price range has existed for some time, between about $75,000 and $85,000. This period of lackluster volatility, combined with substantial buying pressure, may well suggest that accumulation is occurring behind the scenes in anticipation of a large price move. Related Reading: BNB Weathers The Storm Better Than Altcoins, Stats Show Three-Month Correction Follows Typical Bull Market Trend The price of Bitcoin is now back to correction after almost three months since reaching highs near $100,000 earlier in the year. The price has seen a drop of nearly 30% since then. According to analysts, this drop follows the typical trend of previous bull markets. A decrease of 25-35% occurring midway through the cycle would usually denote a situation from which the prices would then continue up once again. Featured image from Pexels, chart from TradingView

Bitcoin prices gained by only 0.95% in the past week amidst an intense market consolidation. The premier cryptocurrency is struggling to break out of the $85,000-$86,000 price range following an impressive price rally in the second week of April. However, popular crypto analyst Ali Martinez has identified the major price resistance for the current Bitcoin uptrend. Related Reading: Bitcoin Enters New Phase: Analyst Predicts Positive Movement In 2025 Bitcoin STH Realized Price At $91,000 Presents Major Make-Or-Break Moment  In a recent post on X, Martinez states that Bitcoin faces a key resistance level at the $91,275 following a price rebound in early April. Notably, the asset surged by 17.33% after reaching a price low of $75,000 on April 9. However, BTC has since entered a consolidation following this feat, producing no significant price movement in either direction. Over the past week, the crypto market leader moved only between $84,000 to $86,000, forming a tight range-bound market. However, amidst these struggles, Martinez states that Bitcoin short-term holders realized the price lies at $91,275, indicating the pivotal resistance to the recent market resurgence lies ahead. For context, the short-term holders’ realized price is the average price at which new buyers (i.e, new investors of Bitcoin over the past 155 days) acquired their BTC. It is an important technical indicator used to evaluate short-term market sentiment and behavior. When a market price is above the STH realized price, it indicates a bullish momentum as recent buyers are in profit and are likely to hold. In this case, the STH realized price serves as a strong support level, with new market entrants often defending their entry zone.  However, when Bitcoin’s price is below the STH realized price as currently seen in the market, the realized price forms a significant psychological price resistance. This is because many short-term holders may choose to exit once the market breaks even, increasing the selling pressure around that zone. Therefore, Bitcoin reclaiming $91,275 is essential to validate a sufficient bullish potential to fuel a complete price reversal. Related Reading: Cardano Price Surge To $1.7: Here Are The Factors To Drive The Recovery Bitcoin Price Overview At the time of writing, Bitcoin is trading at $84,872, reflecting a price growth of 0.14% in the last day. Meanwhile, the premier cryptocurrency is down by 1.34% on its monthly chart as bearish pressure continues to wane. While a major market resistance lies at $91,000,  Bitcoin faces an immediate opposition at the $86,000 price zone, breaking past which could spur a sharp price rise to $91,000. However, a price fall below the support at $84,500 could result in a further price slide to $84,000 with the potential to trade as low as $83,300. Featured image from Euronews, chart from Tradingview

Bitcoin has risen dramatically over the last 10 years against gold, with a rise of an incredible 13,693%, according to the financial statistics shared by crypto entrepreneur Ted. The figures demonstrate the alarming divergence between the two assets from April 2015 and April 2025. In particular, this striking ascent of Bitcoin has caught the eye of investors spread around the globe. Related Reading: Bitcoin Dominates Q1: Altcoin Season Nowhere In Sight—Report Bitcoin Vs. Gold: From Equal Footing To Massive Gap Ten years ago, gold and Bitcoin were at similar prices. In April 2015, Bitcoin moved between $200 and $250, whereas gold was ranging around $1,200 to $1,300 per ounce. The fortunes of these investments have since become totally different. Bitcoin has soared to about $84,000 per coin, up some 33,500% in the ten-year period. The cryptocurrency briefly peaked at nearly $109,000 during the timeframe. If someone tries to tell you gold is better than Bitcoin… Just show them this: In 2015, 1 BTC = 1 ounce of gold. Today? That same Bitcoin is up 13,693% in 10 years. Let the numbers speak. pic.twitter.com/8JipH5IsNr — Ted (@TedPillows) April 17, 2025 Gold, on the other hand, has preserved its image of reliability over volatility, rather than offering spectacular gains. The precious metal increased by only 156% over the same period. From the market onlookers, gold’s worth proposition is still anchored on its consistent, inflation-proof behavior spanning very long timescales. Historical Context Demonstrates Divergent Patterns Of Growth Going back even farther shows an even greater disparity in the growth rates. According to a market analyst on social media platform X, the price of gold was only $20.67 per ounce in 1933. As for 2025, the price has gone up somewhat to around $3,330 an ounce, which is indeed a steep rise but a gradual increase over a period of almost a century. Ted's analysis on X. Bitcoin has had a completely different history. From a price of $1 in 2011, it came up to $84,000 by 2025. With such rapid appreciation rates, both excitement and skepticism have been brought forth by financial analysts debating the worthiness of such growths. Sheer Disparity In Size According to analyst Belle, a stark contrast in the behavior is due to the sheer difference in the size of their market. Gold has roughly a market capitalization of a little over $22 trillion. Due to this great size, gold provides an element of stability, rendering the market less sensitive to individual transactions or flows of short-term investments. GOLD added $1 trillion to its market cap in one day. That’s nearly the entire value of #Bitcoin right now. This shows how massive traditional markets are & how early we still are with Bitcoin. Even a small shift into $BTC could send it flying. pic.twitter.com/YsjSgOZKjx — Belle (@Bitt_Belle) April 17, 2025 Bitcoin’s market capitalization is at approximately $1.667 trillion—large but still only a fraction of gold’s. This reduced size makes Bitcoin more sensitive to capital flows. Gold recently saw an impressive $1 trillion rise in market capitalization over one day, but this was a much smaller percentage move than the same dollar flow would trigger in Bitcoin’s value. Related Reading: Is Shiba Inu On Track To Dethrone Dogecoin? Here’s What The Experts Say Same Dollar Flow, Different Price Impact Meanwhile, the math in terms of market capitalization generates intriguing price movement scenarios. Based on calculations reported, if Bitcoin were to get a $1 trillion boost in market capitalization—comparable to the recent one-day increase in gold—its price per unit might rise from $84,000 to $135,000. Featured image from The Ledn Blog, chart from TradingView

The Bitcoin dominance in the cryptocurrency market is inching dangerously close to a long-term resistance level that has triggered major reversals in the past. This resistance level is highlighted on the weekly BTC.D candlestick timeframe chart.  Each time the dominance taps this descending trendline, it struggles to break through and eventually tumbles. Notably, Bitcoin’s dominance is now back around this resistance, and a technical outlook posted on the TradingView platform points to a crash to 40% within the next months. Bitcoin Dominance Could Crash To 40%: Good For The Altcoin Market The dynamics behind Bitcoin’s dominance have been different this cycle compared to previous ones. This is because the dominance has grown massively since the beginning of this cycle, leaving little room for an altcoin season like many have continued to expect. At the time of writing, Bitcoin’s market dominance is sitting at a yearly high of 63.2%, according to data from CoinMarketCap. Related Reading: Solana Price Enters Consolidation Trend Above $130 That Could End In A Breakout However, an interesting technical analysis shows that the Bitcoin dominance is now tapping on a resistance trendline that puts it at risk of crashing below 40%, up until 34.9%. If that pattern holds true once again, the crypto market could be approaching a phase where Ethereum, XRP, and other altcoins regain strength in what many hope will be the next altseason. A drop in Bitcoin dominance will bode positively for altcoins, since it indicates that the altcoin market is outperforming Bitcoin. This will be characterized by a widespread increase in the prices of major altcoins, such as Ethereum, Solana, and XRP. In such a case, tokens like Ethereum, XRP, Cardano, Chainlink, BNB, and Litecoin, the so-called DINO coins that have survived multiple market cycles, are most likely to draw early attention from retail traders. However, unlike past bull runs, when only a few hundred altcoins existed and most received some attention, the crypto market is now saturated with thousands of altcoins. After the large market-cap altcoins, the rotation could move toward more niche sectors. Sectors such as Artificial Intelligence (AI), Real World Assets (RWA), and DeFi may also attract attention, but even within these categories, a strong filtering process will be applied to select the altcoins that will perform better.  Can Bitcoin Dominance Really Crash To 40%? The Bitcoin dominance crashing to 40% is not a new phenomenon, looking at how the 2017 and 2021 bull markets unfolded. However, such a phenomenon happening again is becoming increasingly difficult, considering Bitcoin’s position in the investment world today through Spot Bitcoin ETFs. These funds in these ETFs are locked up for the long term, meaning a rejection in BTC dominance may not automatically result in massive liquidity flows into the altcoin market, as seen in 2021 and 2017. Related Reading: Cardano Price Surge To $1.7: Here Are The Factors To Drive The Recovery Even if Bitcoin dominance crashes toward 40% and ushers in a new altcoin cycle, many altcoins will eventually end in brutal drawdowns. Across past market cycles, the majority of altcoins have suffered losses of over 90% once bullish sentiment fades and capital flows back into stablecoins. Featured image from Dall.E, chart from TradingView.com

Crypto analyst Quinten recently revealed that Bitcoin has entered oversold levels. However, analyst Dr. Cat has warned that, contrary to public opinion, this development is bearish, not bullish, for the flagship crypto.  In an X post, Dr. Cat stated that Bitcoin entering oversold levels is “super-bearish” and overbought levels are “super-bullish.” He explained that for the oscillator to reach oversold values, it means that the price action has been extremely bearish, indicating why investors are selling their holdings.  Why Bitcoin Entering Oversold Levels Is Bearish   The crypto analyst further remarked that Oscillators are range-bound indicators, so they can’t go beyond 0 and 100, as they are limited by their mathematical formulas. However, he added that the Bitcoin price can go lower or higher. Dr. Cat then alluded to Bitcoin’s bull markets, noting that all of them are in overbought territory on the weekly chart. Related Reading: Bitcoin Price To Break $125,000 But Sell Everything In October, Analyst Warns The analyst stated that if an investor buys an oversold condition on a lower timeframe when Bitcoin’s higher timeframe is bullish, this is a good move. However, he remarked that whoever advises buying a weekly oversold chart based on the claim that it is bullish because it is oversold has no idea what they are talking about. He remarked that many altcoins are oversold on the higher timeframe and can remain oversold as they approach zero, where the analyst claims they are eventually headed. Dr. Cat also explained that in a bull market, oversold conditions on the daily chart may mark higher lows on the weekly or monthly chart.  However, in a bear market, oversold conditions may persist or just lead to some consolidation before more downside. Dr. Cat then alluded to Quinten’s chart, which he said showed what daily oversold conditions led to one year earlier in different broader market conditions. The analyst cautioned that he wasn’t discussing whether Bitcoin is in a bull or bear market or where it is headed, but simply clarifying the misconception about oversold and overbought RSI.  BTC’s Supply Overwhelming Demand At The Moment In an X post, CryptoQuant CEO Ki Young Ju revealed that Bitcoin’s supply is currently greater than its demand at the moment, providing a bearish outlook for the flagship crypto. This supports the idea of BTC being in oversold conditions right now, with holders selling their coins rather than buying.  Related Reading: Bitcoin Price Forms This Bullish Pennant On Daily Chart That Could Trigger Rise To $137,000 Crypto analyst Ali Martinez recently revealed that whales have been taking profits during the recent Bitcoin rally, offloading over 29,000 BTC since April 9. It is worth mentioning that Ki Young Ju recently asserted that Bitcoin’s bull market is over, noting that the flagship crypto is witnessing significant selling pressure.  At the time of writing, the Bitcoin price is trading at around $84,600, down in the last 24 hours, according to data from CoinMarketCap. Featured image from Adobe Stock, chart from Tradingview.com

Strategy chairman Michael Saylor, a vocal promoter of Bitcoin, stoked renewed chatter among crypto circles with his recent enigmatic tweet. Thursday’s message stating merely “Bitcoin is Calling” left many asking if a forthcoming significant purchase looms. Related Reading: Is Shiba Inu On Track To Dethrone Dogecoin? Here’s What The Experts Say Strategy’s Shopping Spree On Bitcoin Goes Unabated In The Face Of Market Uncertainty The company recently acquired 3,450 Bitcoin at a price of $285 million. This was done after a short one-week break from their consistent acquisition pattern. Strategy has been steadfast in its aggressive acquisition strategy despite the fact that nearly all of its crypto acquisitions since November 18 have been made at higher-than-current market prices, according to reports. Image: Open Access Government Saylor’s post might be a tease regarding another future purchase, given his history of sending such sarcastic remarks ahead of new acquisitions. The post also appeared to urge his 4.2 million followers to purchase BTC, which he has frequently called “the future of money.” Bitcoin is Calling. pic.twitter.com/0jo19Qbr5q — Michael Saylor (@saylor) April 17, 2025 Bitcoin Bet Pays Off With Massive Stock Gains Strategy’s shares have trounced the performance of America’s largest technology stocks, Saylor’s Wednesday filing showed. The crypto-focused firm has posted an astonishing 130% gain over the last year. These returns more than dwarf the returns of Tesla (57%), NVIDIA (30%), Apple (17%), Meta (4%), and Alphabet (2%). There is a @Strategy to beat the Magnificent 7. pic.twitter.com/TlD57hW0w0 — Michael Saylor (@saylor) April 15, 2025 Some top tech firms actually lost value during the same period. Amazon and Microsoft saw drops of 2% and 7% respectively. These comparisons highlight the significant rewards Strategy has reaped from its heavy crypto investment strategy. Saylor Continues Bold Bitcoin Claims The chairman of Strategy has issued some provocative comments on BTC in recent weeks. Only two weeks ago, he asserted that the price volatility of the top crypto asset actually proves its utility instead of constituting a disadvantage. When someone brought up Bitcoin’s link with risky assets, Saylor contended this is so because Bitcoin is “the most liquid, salable, and accessible asset on the planet.” A day earlier than that remark, he underscored Bitcoin’s singular status among commodities by noting that there are no tariffs on it. His remark highlighted its digital nature and liquidity as central to what makes it functionally decentralized. Saylor has established himself as one of Bitcoin’s most vocal proponents. His tweets tend to center on the fact that there are only 21 million coins in existence, which he recently referred to as “the most important number in finance.” He has also likened Bitcoin to chess, although the meaning behind this comparison wasn’t elaborated in coverage.   Image: Blockzeit Related Reading: Could 1,000 XRP Buy You Happiness? This Analyst Thinks So The chairman’s most recent statement comes as Strategy maintains its focus of continuing to buy Bitcoin for the long term, no matter what happens in the short term. With the company’s shares outperforming technology giants and Saylor’s ongoing public support, most crypto observers are now looking to see if another significant purchase of crypto comes after his cryptic “calling” tweet. Featured image from Getty Images/Joe Raedle, chart from TradingView

As Bitcoin (BTC) attempts to stabilize above the crucial $80,000 support level, a new warning from market analyst Leviathan has raised concerns about an alleged strategy by China that could significantly impact the leading cryptocurrency.  China’s ‘Secret’ Bitcoin Strategy In a recent post on X (formerly Twitter), Leviathan claimed that China plans to sell off its Bitcoin holdings, potentially driving the price down to $40,000. According to the analyst, this move is just the beginning of a broader scheme. Despite the Chinese government’s public stance against cryptocurrency trading, local authorities have found a workaround, he alleges. The expert asserts that they have been quietly cashing in on confiscated Bitcoin, which has led to an “underground fiscal strategy” that operates in “legal ambiguity.” Related Reading: TRUMP Memecoin Unlock Set To Release 40 Million Coins This Thursday Currently, Chinese authorities are reported to hold approximately 194,000 BTC, making them the second-largest government holder of Bitcoin, just behind the United States.  Leviathan highlights that while the Chinese government publicly denounces cryptocurrency, it simultaneously benefits financially from its underground sales.  Local governments are reportedly improvising their strategies, with some engaging private tech firms to liquidate the confiscated Bitcoin on offshore exchanges. Others, allegedly maintain a more “clandestine approach.”  The expert provides an example of a relatively unknown company in Shenzhen, Jiafenxiang, that has allegedly facilitated over $400 million in crypto sales on behalf of various city governments, converting the proceeds into yuan and transferring the funds back to local finance departments. Hong Kong Emerges As Potential Haven For China’s Confiscated BTC In 2023, China witnessed a record surge in crypto-related crimes, with over $59 billion tied to illegal activities and more than 3,000 money laundering cases prosecuted.  Amidst this backdrop, local governments are increasingly reliant on the revenue generated from fines and confiscations — a significant portion of which comes from liquidated cryptocurrencies.  However, the need for funds is at odds with the government’s public anti-crypto stance, forcing officials to offload coins abroad through intermediaries while hoping for minimal interference from Beijing. There have been discussions among judges, lawyers, and police about the need for a consistent national policy regarding seized cryptocurrencies. Some have proposed that the central bank take control over these assets, while others have suggested establishing a sovereign crypto fund.  Related Reading: Trump’s World Liberty Financial Teams Up With DWF Labs For $25M WLFI Token Investment Leviathan has pointed to Hong Kong, which, with its more favorable legal framework for cryptocurrencies, has emerged as a potential destination for China’s Bitcoin stockpile. This situation presents a unique challenge for China, as the contradiction between its public denouncement of cryptocurrencies and its private profit from them becomes increasingly apparent.  As the US moves toward legitimizing cryptocurrencies at the federal level, including discussions on strategic reserves under President Donald Trump and his ongoing support for crypto, China may find itself compelled to respond, the expert asserts. Ultimately, Leviathan said that the fate of China’s 194,000 Bitcoin holdings will not only shape national policies but could also send ripples across the global financial landscape.  At the time of writing, BTC trades at $84,800, registering a 5% surge in the weekly time frame.  Featured image from DALL-E, chart from TradingView.com 

Bitcoin price is slowly moving higher above the $83,500 zone. BTC must clear the $85,200 resistance zone to continue higher in the near term. Bitcoin found support at $83,200 and started a recovery wave. The price is trading above $84,500 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend line with resistance at $84,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it clears the $85,200 zone. Bitcoin Price Eyes Fresh Upside Bitcoin price started a fresh decline below the $86,200 and $85,500 levels. BTC even declined below the $84,00 level before the bulls appeared. The price tested the $83,200 support. A low was formed at $83,171 and the price recently started a recovery wave. The price climbed above the $84,500 resistance zone. There was a break above the 50% Fib retracement level of the downward move from the $86,400 swing high to the $83,171 low. Besides, there was a break above a connecting bearish trend line with resistance at $84,650 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading above $84,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $85,200 level. It is near the 61.8% Fib retracement level of the downward move from the $86,400 swing high to the $83,171 low. The first key resistance is near the $85,500 level. The next key resistance could be $86,500. A close above the $86,500 resistance might send the price further higher. In the stated case, the price could rise and test the $87,200 resistance level. Any more gains might send the price toward the $88,800 level. Another Decline In BTC? If Bitcoin fails to rise above the $85,200 resistance zone, it could start another decline. Immediate support on the downside is near the $84,500 level. The first major support is near the $84,000 level. The next support is now near the $83,200 zone. Any more losses might send the price toward the $82,500 support in the near term. The main support sits at $81,800. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $84,500, followed by $83,200. Major Resistance Levels – $85,200 and $85,500.

Bitcoin’s price action in recent weeks has been mostly highlighted by a trading range between $80,000 and $85,000, with a struggle to reclaim buying pressure. Despite the current lack of a strong bullish momentum, many crypto analysts are banking on a bullish continuation and a new Bitcoin price all-time high before the end of 2025. According to crypto analyst TradingShot, Bitcoin could be approaching the final leg of this bull cycle, predicting a peak above $125,000. However, this analysis comes with a caveat that an extended bear market might roll in by October 2025. Long-Term Bitcoin Cycles Hint At Imminent Peak TradingShot’s analysis, which was posted on the TradingView platform, is based on over a decade of symmetrical Bitcoin market behavior that shows both bull and bear cycles unfolding in consistent timeframes. According to TradingShot, the bull cycles dating back to 2015 have all lasted approximately 1,064 days, or 152 weeks, with each cycle topping out almost exactly three years after the previous bottom. On the other hand, bear cycles have consistently lasted for around one year, either from December to December or November to November. Related Reading: Bitcoin Price Following Analyst’s Prediction For Bullish Breakout, Here’s The Target This historical symmetry is reflected in the chart below, which highlights three bull cycles followed by three bear periods, all forming a repeating pattern. The most recent bottom, recorded on November 7, 2022, marked the start of the current bull cycle. If this pattern holds, Bitcoin could reach its next peak in the week of October 6, 2025.  The bull cycle has led to Bitcoin breaking above $100,000 and now with an all-time high of $108,786, but like many others, the analyst predicted this peak will still be broken this year. This peak will likely mirror the explosive rallies that ended the 2017 and 2021 cycles and eventually surpass $125,000. Sell Everything In October 2025, Buy Back In October 2026 TradingShot’s primary advice is blunt but strategic: sell everything by October 2025. According to the analyst, this window could be the final opportunity to exit near the top before the next bear cycle takes hold. Counting 1064 days from the most recent bottom of $15,600 in November 07 2022, gives a time estimate for the next cycle top on October 6 2025. If history repeats itself, the subsequent bearish phase will likely last for 12 months and bottom out around October 12, 2026, before the next bull phase. Related Reading: Bitcoin Price Stalls Below $85,000 Psychological Level, Why A Drop To $74,000 Is Possible This timing is not speculative; it’s based on a consistent one-year bearish phase across three full market cycles. Therefore, it would be better to sell before October 2025 and start accumulating by October 2026. At the time of writing, Bitcoin is trading at $84,500, up by 0.9% in the past 24 hours and 48% away from the predicted peak of $125,000. Featured image from Adobe Stock, chart from Tradingview.com

According to CoinGecko’s 2025 Q1 Report, the cryptocurrency market, led by Bitcoin, lost nearly one-fifth of its value in the first quarter of 2025, fully negating the gains made towards the end of 2024. Related Reading: Is Shiba Inu On Track To Dethrone Dogecoin? Here’s What The Experts Say Total market value witnessed a drop of $3.8 trillion to $2.8 trillion, an 18.6% decline over the quarter. This sharp plunge marked the turnaround before the inauguration of Donald Trump as US president, in stark contrast to last year’s ramp up. Trading volume also suffered some contractions, as the daily volumes dropped to $146 billion, a decrease of 27%. Bitcoin Rules Market While Others Decline Bitcoin insulated itself reasonably from the turbulence in other cryptocurrencies so that its market share reached nearly 60%, the highest in four years. Bitcoin achieved peak valuation at $106,182 in January shortly after inauguration but plunged almost 12% to finish the quarter at $82,514. Compared with Bitcoin during this period, gold and US Treasury bonds were traditional safe-haven investments with lower performance. Compared to Ethereum, however, the situation was much worse. Its price fell by 45%, essentially wiping out all gains in 2024. Its market share dropped to almost 8%, the lowest it has been since the end of 2019. As it has been observed by most analysts, this downturn is not something new since more and more activities have shifted toward “Layer 2” networks built atop Ethereum and not using the Ethereum main network. Meme Coins Crash After Major Scam The previously red-hot meme coin space received a rude wake-up call in early 2025. Following a boom in Trump-themed tokens, the industry was severely hurt when the Libra token – introduced by Argentina’s President Javier Milei – proved to be a scam. The project was abandoned by developers after they had taken investors’ funds, shattering confidence in such tokens. By late March, new token launches on the platform Pump.fun per day had dropped by over 50%. DeFi Industry Loses More Than A Quarter Of Its Value Not even the decentralized finance (DeFi) industry was exempted. Overall money in DeFi projects dropped 27% to $48 billion during the first quarter. Ethereum’s dominance in the DeFi space declined to 56% by quarter-end. Related Reading: Solana Hits Milestone As Canada OKs First Spot ETFs Not everything was negative, though. Stablecoins such as Tether (USDT) and USD Coin (USDC) became more popular with investors seeking a safer bet as the market tanked. Solana also remained in its leadership position, holding 39.6% of all decentralized exchange (DEX) trading during Q1, courtesy mostly of meme coin mania. Even Solana’s leadership, however, started to wane at the end of the period as the meme coin mania declined. The dramatic shift in market sentiment shows how quickly cryptocurrency fortunes can change. After a promising end to 2024, the new year brought a harsh reality check for crypto investors, with nearly $1 trillion in market value disappearing in just three months. Featured image from Pexels, chart from TradingView

Bitcoin price started a fresh decline below the $85,500 zone. BTC is now consolidating and might attempt to clear the $85,200 resistance zone. Bitcoin started a fresh decline below the $85,500 zone. The price is trading below $85,000 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $84,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it clears the $85,000 zone. Bitcoin Price Eyes Fresh Increase Bitcoin price struggled near the $86,500 zone and started a fresh decline. BTC declined below the $85,500 and $85,000 levels to enter a short-term bearish zone. The price tested the $83,200 support. A low was formed at $83,171 and the price recently corrected some losses. There was a move above the $83,800 level. The price surpassed the 50% Fib retracement level of the downward move from the $86,401 swing high to the $83,171 low. Bitcoin price is now trading below $85,000 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $84,750 level. There is also a connecting bearish trend line forming with resistance at $84,800 on the hourly chart of the BTC/USD pair. The first key resistance is near the $85,150 level or the 61.8% Fib retracement level of the downward move from the $86,401 swing high to the $83,171 low. The next key resistance could be $85,500. A close above the $85,500 resistance might send the price further higher. In the stated case, the price could rise and test the $85,800 resistance level. Any more gains might send the price toward the $86,400 level. Another Decline In BTC? If Bitcoin fails to rise above the $85,000 resistance zone, it could start another decline. Immediate support on the downside is near the $83,900 level. The first major support is near the $83,200 level. The next support is now near the $82,200 zone. Any more losses might send the price toward the $81,500 support in the near term. The main support sits at $80,800. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now near the 50 level. Major Support Levels – $83,200, followed by $82,200. Major Resistance Levels – $84,750 and $85,150.

The Bitcoin price appears to be moving in lockstep with a bullish prediction made by a crypto analyst earlier this month. According to the analyst’s forecast, Bitcoin is set to break out to a new all-time high above $120,000 following the announcement of a temporary tariff pause by United States (US) President Donald Trump.  $120,000 Bitcoin Price Forecast In Motion Kaduna, a crypto analyst on X (formerly Twitter), has released a follow-up analysis on his previous bullish prediction of Bitcoin, highlighting that it is playing out as expected. On April 11, the analyst predicted that Bitcoin was preparing for a massive push above $120,000.  Related Reading: Trump’s Tariff Pause Could Push Bitcoin Price Above $100,000, Pundit Reveals Exit Point He outlined a thesis that the 90-day suspension of President Trump’s Tariffs would act as a powerful macroeconomic catalyst for Bitcoin. Kaduna argued that the market may start “frontrunning” about a month early, culminating in a mini bull market during a 55-day “exit window” between April 3 and June 3 2025.  Accompanying this bullish analysis was a detailed chart comparing Bitcoin’s price movements through candlesticks with a blue overlay, believed to represent a macroeconomic indicator such as global M2. The blue line in the chart projects a steady climb during this window, offering a clear visual target above $120,000. Kaduna had stated that if his prediction played out, he would exit most positions by the end of the window.  Just days after his bullish forecast, Bitcoin has begun mirroring the projected path. Kaduna revealed in a follow-up candlestick chart that Bitcoin is breaking above the local resistance at $84,000 with strong volume support, aligning with the predicted overlay. This early strength suggests that the frontrunning behaviour the crypto expert projected earlier is now playing out in real time.  The blue line suggests a potential move toward the $120,000 – $125,000 range over the next month and a half, setting a clear upside target if momentum continues. Bitcoin’s price action is also unfolding right on cue within the 55-day window, validating the analyst’s bullish thesis. Both the overlay and Bitcoin’s prices are trending upwards, signaling that the market is indeed reacting to the macroeconomic tariff catalyst. If this trajectory holds, it would mark a significant validation of the analyst’s macro-technical analysis approach.  Update On The Bitcoin Price Action Following its crash below $80,000, the Bitcoin price seems to be on a path to recovery. CoinMarketCap’s data reveals that Bitcoin is currently trading at $83,395, marking a significant 7.16% increase over the past week.  Related Reading: Bitcoin Price Forms This Bullish Pennant On Daily Chart That Could Trigger Rise To $137,000 The cryptocurrency had broken the resistance level at $84,000 earlier this week. However, it retraced sold gains and is now trading at its present market value. Given its fluctuating price and unstable market, crypto analysts like Tony Severino have revealed that he is neither bullish nor bearish on Bitcoin. Instead, he seems to be taking a wait-and-see approach, closely monitoring how the market responds to ongoing volatility driven by the US Trade war and tariff implementation. Featured image from Adobe Stock, chart from Tradingview.com

The Bitcoin open interest has remained on the high side despite the price declines, suggesting that interest in the leading cryptocurrency by market cap remains abundant. This interest is no doubt a good thing for the crypto market, especially in the long-term. But looking back at previous trends involving the Bitcoin open interest, it is concerning that the value is still so high and this could hinder a recovery for the Bitcoin price from here. Bitcoin Open Interest Still Above $56 Billion Data from the Coinglass website shows that the Bitcoin open interest is still quite high and not far off from its November 2024 highs after the BTC price hit a new peak above $109,000. This consistently high open interest signifies traders still taking considerable positions in the digital asset despite its price falling over 20% since then, something that could be a hindrance to recovery. Related Reading: Analyst Who Called Dogecoin Price Rally In 2024 Predicts 300% Rally In April The total Bitcoin open interest is currently sitting at $56.17 billion, falling approximately 22% from its all-time high of $71.85 billion. This shows a close correlation between how much the price has fallen compared to the open interest. However, the open interest remaining this high could have some negative implications for the BTC price and the crypto market by extension. For example, looking at the chart above, it is obvious that Bitcoin has seen its largest moves upward when the open interest has been low. This suggests that the lack of market pressure gives bulls the space to push the price upward. Hence, with the open interest still so high, it could be much harder to push the price higher. Given this, the BTC price could see further decline before there is more recovery from here. BTC Price Crash Below $70,000 Imminent? Besides the Bitcoin open interest remaining high, a crypto analyst has also given reasons why the BTC price could see a crash from here. The first factor given is the fake bullish divergence. According to the analysis, the RSI may be showing a bullish divergence but the price action isn’t following it. Hence, this could lead to a bull trap, pulling traders into losses as the price crashes. Related Reading: Is The XRP Price Mirroring Bitcoin’s Macro Action? Analyst Maps Out How It Could Get To $71 Another factor given is the fact that the Bitcoin price has broken a trendline support after falling to the low $80,000s. This suggests that bullish momentum is weakening and the recent recovery might not hold. Given the factors listed above, the crypto analyst expects the Bitcoin price to fall another 20% from here. The target is placed at $69,149, which is an all-time high from 2021. “This level coincides with the intersection of the mid-channel support line and horizontal price structure,” the analyst explains. Featured image from Dall.E, chart from TradingView.com