Falconedge, a newly established hedge fund advisory firm that emerged from Falcon Investment Management, has revealed a new strategy among publicly traded companies: to allocate nearly all of the proceeds from its upcoming initial public offering (IPO) to building a Bitcoin (BTC) treasury. Bitcoin-Focused IPO Strategy On Wednesday, the firm’s announcement disclosed that Falconedge’s leadership views Bitcoin not merely as a hedge against inflation but as a cornerstone asset for institutional treasury management. By emphasizing Bitcoin as a primary reserve asset, the firm aims to scale its cryptocurrency holdings significantly, thereby enhancing its balance sheet with BTC’s potential and institutional credibility. Related Reading: Shiba Inu’s Shibarium Suffers Crash In Major Metric, Is SHIB Price At Risk? Roy Kashi, CEO of Falconedge, expressed enthusiasm about the firm’s launch in a press release statement. The executive said: We’re proud to launch Falconedge as a next-generation platform that puts Bitcoin at the heart of institutional treasury strategy. This pre-IPO raise positions us to accelerate growth and deepen our impact in digital asset finance. Flaconedge would join a growing trend of public traded companies adopting similar investment options, mulling Strategy’s (MicroStrategy) approach with years accumulating Bitcoin and so far enjoying billionaire returns. Falconedge Completes Pre-IPO Fundraising The firm disclosed it has completed its pre-IPO fundraising and is gearing up for a public offering in September. Falconedge has indicated that the majority of the IPO proceeds will be allocated to Bitcoin accumulation, further solidifying Falconedge’s vision. Falconedge’s IPO is set to be one of the first to dedicate proceeds primarily to Bitcoin reserves, effectively positioning the firm as a hybrid entity that straddles the line between an advisory firm and a digital asset holding company. USDT stablecoin issuer Circle has also been in the spotlight with its debut on the New York Stock Exchange (NYSE). Its shares, traded under the ticker symbol CRCL, surged over 150% in the first days of its debut, highlighting the interest by investors in crypto-focused IPOs. Related Reading: Ethereum To $5,500 In Weeks, $12,000 By Year-End, Tom Lee Predicts Despite being newly formed, Falconedge benefits from the significant credibility and expertise inherited from Falcon Investment Management, a top player in United Kingdom-regulated crypto investing. The firm’s legacy includes launching one of the earliest regulated crypto funds in the UK in 2018, managing over $850 million in crypto assets at its peak, and successfully establishing a decentralized finance-focused fund that has performed well. As of this writing, Bitcoin, the market’s leading cryptocurrency, is trading at $112,100 — nearly 10% below its record high of $124,000 earlier this month. This is in line with the broader correction in the market, which has seen digital asset prices retrace to key support levels. Featured image from DALL-E, chart from TradingView.com
As Bitcoin (BTC) enters the third quarter (Q3) of 2025, bullish sentiment is growing, fueled by historical post-halving patterns that have repeatedly marked the beginning of explosive market moves. A crypto analyst now points to recurring trends observed in past cycles, where Q3 has often acted as a launchpad for significant price rallies in BTC following each halving year. Bitcoin Post-Halving Years Point To Explosive Q3 Luca, a crypto market expert on X (formerly Twitter), has doubled down on expectations for a major Bitcoin price rally in the coming quarter. He argues that expectations of an extended consolidation in Bitcoin, based on the fractals and market behavior seen in 2023 and early 2024, fail to account for a critical factor: 2025 is a post-halving year. Related Reading: TRUMP Token In Trouble? Over $4 Million Liquidity Exit Sparks Crash Fears The analyst points to a consistent pattern observed in every post-halving year throughout Bitcoin’s history. In his chart analysis published on June 26, Luca notes that Q3 in these years have consistently demonstrated strength, with no historical precedent for weakness, reinforcing the case for a bullish breakout. The chart compares Q3 performance during the post-halving years of 2013, 2017, and 2021. In each case, Bitcoin entered the third quarter with moderate or corrective price action, only to rally significantly in the weeks that followed. The left panel of the chart shows the 2013 post-halving year, where Bitcoin went from under $100 in July to over $680 in November. In 2017, the middle panel highlighted a similar trajectory, where BTC broke out from under $2,800 in early Q3 to over $16,000 by year-end. The most recent cycle in 2021, shown in the right panel of the chart, saw a Q3 recovery rally that took Bitcoin from under $39,000 in July to a former all-time high above $69,000 in November. Notably, Luca maintains that this consistent historical behavior is not coincidental, predicting that a similar rally could unfold in the current cycle, within the next few months. While he acknowledges the possibility of a short-term pullback, he emphasizes that Bitcoin’s broader market structure remains firmly bullish, with momentum still favoring further upside. Analyst Predicts $140,000 – $160,000 Bitcoin Cycle Top Moving forward, Luca’s chart reveals technical factors that align with his bullish thesis. Based on key Fibonacci Extension levels, the analyst projects that BTC’s next cycle top falls between $140,000 and $160,000, a target he believes could be attained toward the end of Q3. Related Reading: Stablecoin Skepticism Grows As IMF Official Challenges Their Money Role While acknowledging that the exact target could shift depending on how technical confluences evolve, the expectation remains that a Bitcoin rally is imminent. With BTC now trading around $107,423 after rebounding from a previous dip below $100,000, a potential move to $140,000 or even $160,000 would mark a substantial gain of approximately 30.35% and 48.97%, respectively. Featured image from Unsplash, chart from TradingView
With Bitcoin (BTC) surging back above the $105,000 mark and nearing its record high set in January, market expert Doctor Profit has outlined bullish predictions for the leading cryptocurrency. In a recent post on social media platform X, he detailed the dynamics he believes will drive Bitcoin toward new highs. Bitcoin Breaks Key Levels As Institutional Demand Surges Since hitting $77,000, Doctor Profit identified $100,000 as the first significant target, which has now been achieved. Looking ahead, he sees the next breakout target between $116,000 and $120,000. His confidence stems from several positive indicators, including a strong bullish divergence observed on the daily chart—a technical signal often associated with forthcoming price increases. He emphasized that daily divergences tend to have a higher success rate than those seen on longer time frames. Related Reading: Coinbase Confirms DOJ Investigation Following Major Security Incident Additionally, Doctor Profit pointed out that the funding rate is currently stable, with no over-leveraged positions in the market. He noted that BTC recently broke out of a significant double bottom formation and is now testing previous highs. A critical factor in his outlook is the substantial accumulation by US exchange-traded funds (ETFs), which are reportedly purchasing Bitcoin at a rate eight times greater than its current mining output. This aggressive accumulation phase, according to Doctor Profit, indicates institutional interest remains robust, even as retail traders have largely stayed on the sidelines during recent volatility. BTC Could Dip To $90,000 The analyst also highlighted that the strongest retail buying occurred around the $90,000 mark, which also represents a liquidity hotspot. Should the market revisit this level, he sees it as an optimal entry point, perfectly positioned at the bottom of the established trading box. Looking ahead, Doctor Profit anticipates volatility, particularly in light of Moody’s recent downgrade of the US credit rating from AAA to AA1—the first major downgrade since S&P’s similar action in 2011. Historical context suggests that such downgrades can lead to swift market corrections. In August 2011, following a downgrade, markets dropped by 5.5% in a single day. Doctor Profit believes that Bitcoin could similarly dip into the $90,000 range to capture liquidity before rebounding. Related Reading: Dogecoin On The Edge: Major Breakout Or Breakdown Imminent? Despite potential short-term fluctuations due to the downgrade, Doctor Profit maintains a bullish outlook for Bitcoin, reiterating his target of $116,000 to $120,000. He noted that the market had largely priced in the downgrade, and historically, stocks have rallied following such events. With major institutions, including BlackRock, increasing their Bitcoin purchases in the exchange-traded fund arena, Doctor Profit sees no signs of weakness in the market, pointing to further price gains for the market’s leading cryptocurrency. At the time of writing, BTC is trading at $105,400, marking a 12% increase over the past two weeks and a nearly 24% increase over the past month. Year-to-date, the cryptocurrency has gained 60%, lagging behind XRP’s gains of over 300% in the same period. Featured image from DALL-E, chart from TradingView.com
Bitcoin (BTC), the market’s leading cryptocurrency, has surpassed the $100,000 mark for the first time since February, driven by a notable shift in President Donald Trump’s tariff policies, which sparked renewed optimism in the crypto market. Bitcoin Only 6% Off Its All-Time High Over the past months, aggressive tariff strategies implemented by Trump negatively impacted cryptocurrency prices, with Bitcoin experiencing a significant correction. The digital asset dropped to as low as $74,000, marking a 25% decline from its record high of $109,000 reached in January. However, the President’s decision to pause his so-called “tariff war” has led to a remarkable rebound in crypto prices boosted by a $6 billion trade deal with the UK announced on Thursday. Related Reading: XRP Is Forms Bullish Reverse Dragon Head Pattern, How High Can Price Go? In the thirty-days time frame, the market’s largest cryptocurrency has recorded a staggering 31% price surge, positioning it just 6.7% below its all-time high. Antoni Trenchev, co-founder of the crypto exchange Nexo, remarked: Bitcoin has not only reclaimed $100,000 for the first time in three months but has also reaffirmed its status as the ultimate bouncebackable asset as the prospects for US trade deals brighten. Other major cryptocurrencies have also benefited from this shift. Ethereum (ETH) has regained the $2,000 mark for the first time since late March, experiencing a 12% surge in just 24 hours, while Dogecoin (DOGE) followed closely with an 11% increase. Trenchev pointed out that Bitcoin’s recent performance is bolstered by a supportive pro-crypto administration and increased buying interest from spot-exchage-traded fund (ETF) investors. He noted that Bitcoin’s outperformance against US equity benchmarks in 2025 reinforces its status as a resilient and safe-haven asset. Analysts Warn Of Challenges Ahead Amid Global Uncertainty Despite the current bullish sentiment, Trenchev cautioned that Bitcoin’s resilience will be tested amid an uncertain global macroeconomic and geopolitical environment. Rising tensions between India and Pakistan pose potential risks, while the US Federal Reserve (Fed) remains cautious about cutting interest rates amid concerns over unemployment and inflation. Related Reading: VWAPs Don’t Lie—XRP Faces Judgment Day At Monthly Support Since the introduction of the tariff policy in early April, Bitcoin has gained more than 16%, while spot gold has risen nearly 6%, and the S&P 500 has seen only marginal gains, illustrating Bitcoin’s growing appeal as a hedge against traditional market fluctuations. In order to confirm its upward trend, analysts predict that Bitcoin will need to break above its January high of over $109,350. According to Trenchev, the cryptocurrency’s price might stay between $70,000 and $109,000 for the months following the election. Nevertheless, he emphasized that reclaiming the $100,000 milestone is a significant achievement for Bitcoin. “Buying during peak fear—just last month Bitcoin was languishing around $74,000—can be exceptionally lucrative,” he concluded. Featured image from DALL-E, chart from TradingView.com
The market’s largest cryptocurrency, Bitcoin (BTC), is once again nearing the $100,000 milestone, following a significant rally that has seen the cryptocurrency reach its highest price since late February. After experiencing downward pressure attributed to Donald Trump’s tariff policies, which triggered a sell-off across both the stock and digital asset markets, Bitcoin’s resurgence showcases a renewed bullish appetite among investors. Bitcoin Rebounds With $3.2 Billion In ETF Inflows To close the first quarter of the year, Bitcoin faced a steep decline, dropping as much as 30% toward $74,000 after hitting a record high of approximately $109,000 on January 20, coinciding with Trump’s second inauguration as President of the United States. However, the market has seen Bitcoin climb as much as 3.1% to reach a weekly high of $97,483, marking the highest level since February 21. The last time Bitcoin crossed the $100,000 threshold was on February 7. Related Reading: Dogecoin Could Hit $1.42 This Cycle In Bull Case, Says 21Shares This upward movement comes amid a shift in market dynamics, particularly in the spot markets, where demand has increased. This suggests a transition towards momentum trading, rather than the previous trend driven primarily by macroeconomic factors such as inflation and tariffs. Exchange-traded funds (ETFs) tracking Bitcoin and Ethereum (ETH) have attracted significant inflows, with over $3.2 billion entering the market last week alone. Notably, BlackRock’s Bitcoin Trust ETF (IBIT) recorded nearly $1.5 billion in inflows, marking its highest weekly intake for the year, according to data from Bloomberg. ETH Eyes Recovery Toward $2,000 Demand for upside options has also surged in the market, with call options at the $100,000 strike price exhibiting the most open interest across various expiration dates, according to Coinglass and data from the largest crypto options exchange, Deribit. “Market sentiment has broadly shifted in favor of momentum-based trades fueled by spot demand, as BTC breaches levels not seen since early February,” stated Chris Newhouse, director of research at Ergonia, a decentralized finance (DeFi) trading firm. “BTC continues to shift between correlations with gold and equities, highlighting a more nuanced relationship with macroeconomic factors balanced by short-term momentum and spot demand,” Newhouse further told Bloomberg. Related Reading: XRP Price Macro Channel Breakout That Puts Targets At $17-$55 Ethereum, on the other hand, has shown a steady recovery over the past week, reinforcing its status as a key player in the decentralized finance sector and smart contract platforms, and regaining the foothold lost in the first quarter of the year. Improvements from Ethereum’s scalability upgrades, including the transition to Ethereum 2.0, have boosted performance and made the platform more attractive to developers and users. However, this has not translated into year-to-date gains for the second largest cryptocurrency compared to its peers, with losses of up to 36% over the period. Despite this, the price of ETH has seen a 14% surge in the fourteen day time frame, regaining the $1,800 level as a key support to boost the potential for further recovery towards $2,000. Featured image from DALL-E, 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 (BTC) has fallen below the $78,000 mark on Sunday, trading at $77,840, reflecting a 6% decline as investors react to significant volatility in broader financial markets. This drop follows the worst decline in US equities since 2020, triggered by President Donald Trump’s announcement of restrictive global tariffs. The flagship cryptocurrency, which traded above $80,000 for much of the year, is now down 28% from its all-time high (ATH) of $109,000 in January, which was also curiously boosted by Trump’s election victory last November. Trump’s Tariffs Trigger $247 Million In Bitcoin Liquidations Typically, Bitcoin trades in tandem with large tech stocks and is viewed by many traders as a leading indicator of market sentiment. Interestingly, last week, Bitcoin held steady between $82,000 and $83,000 even as stocks and gold tumbled. However, CNBC attributes the recent announcement by President Donald Trump of tariffs to a shift in investor sentiment, causing a wave of sell-offs in the crypto market affecting the largest cryptocurrencies. Related Reading: XRP Will Explode—And This Korean Expert Says He’ll Be ‘Laughing’ At Critics The tariffs, which apply to all imports and include additional duties on major trading partners, have raised fears of a potential global trade war. This uncertainty has prompted investors to divest from riskier assets, including cryptocurrencies. In the wake of these developments affecting the entire crypto ecosystem, the leading cryptocurrency experienced over $247 million in long liquidations in just 24 hours since Saturday, with Ethereum (ETH) facing $217 million in similar liquidations during the same time frame. Major Cryptos Plunge Amid Global Trade War Fears Over the weekend, as fears of further market carnage loomed, investors rushed to sell their cryptocurrency holdings. The anxiety surrounding Trump’s tariffs has not only affected Bitcoin but has also reverberated through the entire cryptocurrency ecosystem, with other coins Solana (SOL) experiencing declines of approximately 12%. The ramifications of the tariff announcement have been felt across global financial markets. In the wake of the news, the S&P Global Broad Market Index recorded a staggering loss of $7.46 trillion in market value, with the U.S. stock market alone shedding $5.87 trillion. The losses extend beyond American markets, as other major global markets saw a decline of $1.59 trillion. Related Reading: Ethereum, Solana And Cardano Trend After Crypto Crash – Here’s What You Should Know As Bitcoin continues to reflect broader market trends, it has now seen a 15% drop in 2025. Analysts suggest that absent any significant crypto-specific catalysts, Bitcoin will likely continue to move in tandem with equities, overshadowed by fears of a global recession. These economic uncertainties present a challenging landscape for cryptocurrencies, which were initially expected to benefit from favorable regulatory developments this year. Featured image from DALL-E, chart from TradingView.com
As Bitcoin (BTC), the market’s leading cryptocurrency, continues to trend lower, recent insights from industry experts highlight critical factors influencing BTC’s trajectory. According to Ki Young Ju, CEO of market intelligence firm CryptoQuant, the current Bitcoin bull cycle may be coming to an end. This assertion is grounded in the concept of Realized Cap, a metric that quantifies the actual capital entering the BTC market through on-chain activity. Insights From Ki Young Ju For context, the Realized Cap metric operates on a straightforward premise: when Bitcoin enters a wallet, it represents a purchase, and when it leaves, it signifies a sale. By calculating the average cost basis for each wallet and multiplying it by the amount of BTC held, Ju derives the total Realized Cap. This metric reflects the total capital that has genuinely entered the BTC ecosystem, contrasting sharply with market capitalization, which is determined by the last traded price on exchanges. Related Reading: Solana Faces Defining Level At $120 – Will History Repeat? A common misconception, according to Ju, is that a small purchase, such as $10 worth of Bitcoin, only increases market capitalization by that same amount. In reality, prices are influenced by the balance of buy and sell orders on the order book. Low sell pressure means that even modest buys can significantly elevate prices and, consequently, market cap. This phenomenon was notably exploited by MicroStrategy (MSTR), which issued convertible bonds to acquire Bitcoin, thereby inflating the paper value of its holdings far beyond the initial capital deployed. Key Price Levels For Bitcoin Currently, Bitcoin appears to be in a challenging position, dropping below the key $80,000 mark. When sell pressure is high, even substantial purchases fail to affect prices, as seen when Bitcoin traded near its all-time high of nearly $100,000. Despite massive trading volumes, the price remained stagnant. Ju points out that if Realized Cap is increasing but market cap is either flat or declining, it signals a bearish trend. This indicates that while capital is entering the market, it is not translating into price appreciation—a hallmark of a bear market. Conversely, if market capitalization is rising while Realized Cap remains stable, it suggests that even minimal new investment is driving prices up, indicative of a bull market. Presently, data suggests that Bitcoin is experiencing the former scenario: capital is flowing in, but prices are not responding positively. Historically, significant market reversals require at least six months to manifest, making a short-term rally seem unlikely. Related Reading: Ethereum Tanks Nearly 50% As Bitcoin Holds Stronger In Q1 Adding to the complexity, market expert Ali Martinez has identified key resistance levels that Bitcoin must overcome to regain upward momentum. Notably, there is a major resistance cluster at $87,000, where the 50-day moving average, 200-day moving average, and a descending trendline from the all-time high converge. For Bitcoin to resume its upward trajectory, the expert asserts that BTC must break through critical resistance points at $85,470 and $92,950. Additionally, support at $80,450 remains vital; failure to hold this level could lead to further declines. As of now, the leading cryptocurrency trades at $78,379, recording a 6% decline on Sunday. Featured image from DALL-E, chart from TradingView.com
As Bitcoin (BTC) stabilizes above the critical $80,000 support level after a significant downturn of over 25% from its January peak, market analyst Doctor Profit has released a compelling report that raises a pivotal question: is the market witnessing the onset of a bear market, or is the bullish sentiment still intact? M2 Money Supply And Bitcoin Price Doctor Profit emphasizes the crucial role of liquidity in the current market landscape. While many celebrate the increase in the M2 Money Supply—a key economic indicator—there’s a vital need to understand the timing of its effects. Historically, M2 has shown a strong correlation with Bitcoin’s price movements. Unlike stock markets, which typically react to M2 expansions after a lag of about six months, Bitcoin tends to respond more rapidly, though not instantaneously. According to the analyst, the “misconception” that money printing leads to immediate market upswings is addressed, as there are multiple factors at play, including macroeconomic conditions. Related Reading: Analyst Says Dogecoin Could Skyrocket 16% Any Moment The Federal Open Market Committee (FOMC) decisions regarding interest rates are particularly influential. Although official data suggests inflation is declining, underlying realities, such as OPEC’s influence on oil prices, complicate the outlook. In the context of rising M2, Doctor Profit predicts that Bitcoin’s bullish trend could resume around May or June, but anticipates a period of sideways movement and potential short-term bearish pressure leading up to that point. He warns that many who are currently bullish may shift to a bearish stance as the market evolves. In the report, Doctor Profit highlights the significance of the weekly EMA50—a critical moving average he refers to as the “Golden Line”—which Bitcoin has respected in recent price action. After bouncing off this line at $76,000, the cryptocurrency reached the anticipated $87.4K, triggering several short positions. Long-Term Bullish Outlook With Short-Term Caution Looking ahead, Doctor Profit’s strategy involves targeting a potential drop to the $70,000 to $74,000 zone. This region is crucial; if Bitcoin merely wicks into it but then closes strongly above the Golden Line, he plans to take long positions. Doctor Profit maintains a bullish long-term outlook, expecting a resumption of the bull run by mid-2024, with price targets ranging from $120,000 to $140,000. He remains cautious, holding significant cash reserves and expanding short positions in anticipation of market fluctuations. Related Reading: XRP Jumps 7% After Surge In Network Activity & Whale Buying Doctor Profit outlines two bearish scenarios that traders should consider: a manageable drop to the $70,000 to $74,000 range and the more severe “Black Swan” event that could push prices down to the $50,000 region. While he is confident in a bounce at the higher target, he advises preparedness for both scenarios. At the time of writing, BTC is hovering around $84,000, recording losses of 3.5% and 12% in the fourteen and thirty days time frame respectively. Featured image from DALL-E, chart from TradingView.com
Since January 31, Bitcoin (BTC) has experienced a significant correction, with the leading cryptocurrency plummeting as much as 27.52%. Currently valued around $79,000, Bitcoin’s price is precariously balanced above a crucial support level dubbed as “the magic line,” which is set at $74,000, pivotal in determining the market’s trajectory—bullish or bearish. A Historical Buffer Against Bear Markets In a recent social media post on X (formerly Twitter), market expert Doctor Profit emphasized that “the magic line” placed at $74,000 in his analysis is not just a number but a key indicator of market sentiment. Related Reading: Charts Reveal Cardano Holds Key Support Zone – Staying Above Could ‘Set The Next Move’ According to the expert, this line has historically acted as a buffer against bear market conditions. For instance, during the 2020 market correction, Bitcoin held above this support level until a bear market was confirmed. Doctor Profit asserts, “A massive correction, even 30-50%, does NOT mean a bear market.” This market volatility is exacerbated by fears of a recession, driven in part by President Donald Trump’s aggressive tariff policies targeting countries like China, Canada, and Mexico. These actions have ignited concerns over a potential trade war, further dampening investor sentiment and leading to a retreat from riskier assets, including cryptocurrencies. However, BTC is not alone in this downtrend. Peers such as Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA), have also followed Bitcoin’s lead in this regard, experiencing 10%, 6%,5% and 6% drops respectively in the 24-hour time frame. Optimal Bitcoin Entry Point Between $52,000 and $60,000? In another recent post on social media platform X, Doctor Profit discussed a possible recession scenario, suggesting that the optimal entry point for investors might be between $52,000 and $60,000. This forecast implies a troubling potential drop of another 34% from $79,000 towards the worst case scenario for BTC’s price at $52,000 if this occurs, heightening concerns among traders and investors alike. Related Reading: Ethereum Holds Strong For Over A Year: Monthly Close Below This Level Could Be Catastrophic Doctor Profit remains vigilant, monitoring not only Bitcoin’s movements but also the stock market’s influence on crypto prices. He has set his sights on a critical short position with a target profit level (TP1) aligning with the magic line. “If Bitcoin bounces hard, I’ll re-enter,” the market expert stated. Doctor Profit concluded his analysis saying that “If it shows weakness, I’ll stay in cash and hunt for lower entries between $50,000 and $60,000.” While finding at least a temporary foothold at the $79,460 mark, the largest digital asset, BTC, is down 14% in the past two weeks, reaching its lowest level since November 2024. Featured image from DALL-E, chart from TradingView.com
Michael Saylor, co-founder and chairman of Strategy (formerly Microstrategy), is intensifying efforts to acquire Bitcoin (BTC) by tapping into capital markets, announcing plans to issue up to $21 billion in preferred stock. Strategy Plans Major Sale Of Preferred Shares According to Bloomberg, the new offering will consist of 8% series A perpetual-strike preferred shares, which are convertible into class A common stock. The company plans to sell these shares through an “at the market offering” program, allowing for flexibility in timing and pricing. This approach builds on a previous successful effort in January, when Strategy raised $563 million by issuing preferred shares priced at $80 each, which were offered at a discount to their market value. Related Reading: Dogecoin Crash? Analyst Predicts Drop To $0.12 Before Rebound Preferred stocks are unique hybrid securities that combine features of both equity and debt, offering investors a fixed dividend while providing a claim on company assets. The favorable terms of the January deal reportedly attracted significant investor interest, contributing to a strong performance of the newly issued shares. Since late October, Strategy has been actively acquiring Bitcoin, and the latest capital raise is part of a broader strategy to secure $42 billion over the next few years through various securities offerings. This includes a focus on selling fixed-income securities while managing common stock sales to fund additional BTC purchases. Currently, the firm holds approximately 499,096 Bitcoin, valued at around $42 billion. Shares Drop 10% Amid Bitcoin Crash Despite this purchase plan, Strategy reported that it did not purchase any Bitcoin between March 3 and March 9, according to a filing with the US Securities and Exchange Commission. This pause comes amid a fluctuating cryptocurrency market, where the market’s leading crypto, BTC, recently trades at $79,000 down 4.5% for the day and approximately 18% on the monthly time frame. The preferred stock market has seen varied performance; while the shares climbed 18% from their initial pricing, they faced a decline of over 6% in a recent trading session as the supply increased. Related Reading: Cardano Bulls Eye $10 Target – Analyst Reveals Key Levels To Break Despite this fluctuation, the preferred shares have outperformed common stock and Bitcoin over the same period, suggesting a robust demand from investors. As seen in the daily chart below, shares of Strategy (MSTR), also experienced a drop of around 15% to $238 on Monday, reflecting broader market trends that have seen the company’s stock down approximately 10% this year. In contrast, shares have surged over 2,200% since Saylor began investing in Bitcoin as an inflation hedge in 2020, while Bitcoin itself has risen over 600%. The announcement of Strategy’s plans coincided with recent developments from the US government. President Donald Trump signed an executive order to create a strategic US Bitcoin reserve, which will be funded through cryptocurrencies forfeited in legal proceedings. Featured image from DALL-E, chart from TradingView.com
In a recent interview with CNBC, Michael Saylor, co-founder of Strategy, reiterated his bullish outlook on Bitcoin (BTC), predicting the cryptocurrency could reach a staggering $200 trillion market cap. Saylor Forecasts $10 Million Per Bitcoin Currently valued at about $2 trillion, Saylor believes Bitcoin’s trajectory will see it grow to $20 trillion and eventually hit the $200 trillion mark, translating to an approximate price of $10 million per BTC based on its capped supply of 21 million coins. Saylor attributes this potential growth to a global shift in capital investment, stating, “That capital is coming from overseas… from China, from Russia, from Europe, from Africa, from Asia, from the 20th century to the 21st century.” Related Reading: Ethereum Price Breaks Out—10% Surge Sparks Bullish Momentum His forecast comes against the backdrop of President Donald Trump’s recent announcement regarding the creation of a Crypto Strategic Reserve, which would include BTC alongside Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA), which ignited a heated debate within financial and crypto circles. While Saylor acknowledges the appeal of a Bitcoin-only reserve, he supports Trump’s broader strategy that encompasses multiple cryptocurrencies. He emphasized, “There’s no way to interpret this other than this is bullish for Bitcoin and is bullish for the entire US crypto industry.” Although some conservatives, such as Coinbase CEO Brian Armstrong and Gemini co-founder Tyler Winklevoss, have advocated for more restrictive, Bitcoin-centric policies, Saylor noted that the president’s approach allows for a more inclusive economic policy. Saylor Dismisses Volatility Concerns When asked about his involvement with the White House, Saylor confirmed he has been in discussions with various lawmakers, both Democratic and Republican, as well as members of the Cabinet and administration. “For the last four and a half years, I’ve been talking about Bitcoin to anybody, anywhere in the world, every day,” Michael Saylor stated during his interview, highlighting his commitment to promoting the cryptocurrency. Saylor argues that establishing a strategic Bitcoin reserve could provide the United States with significant economic advantages, including the potential to alleviate the national debt. Saylor posits, “If the United States takes a position in the emerging crypto economy, if it buys up 10, 20% of the Bitcoin network, we’re going to pay off the national debt. And so why wouldn’t that be in the interest of the United States?” Related Reading: Dogecoin Will Start A Move To $4 If Current Demand Holds – Can Bulls Step In? Addressing concerns about Bitcoin’s notorious volatility, Saylor pointed to its historical long-term gains, asserting, “I don’t think anybody’s ever lost money in the Bitcoin network holding for four years. Presumably, you want to buy Bitcoin, you want to hold it for 100 years.” The proposal for a US Crypto Reserve is still in its infancy, and Saylor indicated that its success will depend heavily on legislative decisions made in the coming months. “There are a dozen people on it: the head of the Treasury, the SEC, the CFTC, Commerce, the Attorney General, the President… both the Republicans and the Democrats,” he noted, emphasizing the diverse range of opinions that will influence the outcome. At the time of writing, BTC has found support at around $83,869 after posting losses of 7% and 6% over the past 24 hours and seven days, respectively. Featured image from DALL-E, chart from TradingView.com
On Wednesday, Bitcoin (BTC) prices plummeted to a four-month low, reaching as low as $81,000, as the anticipated “Trump bump” in the markets faded. This has prompted investors and traders to hedge against further decreases, with Bitcoin options indicating a notable interest in put options with a strike price of $70,000. Bitcoin Plummets 20% Since Trump’s Inauguration According to data from Deribit, the largest crypto options exchange, this strike price represents the second-highest open interest among all contracts set to expire on February 28, with a total of $4.9 billion in open interest poised to expire by Friday. Related Reading: Solana (SOL) Sees Red—What’s Next for the Price? Since President Donald Trump’s inauguration in January, Bitcoin has experienced a substantial decline of roughly 20% from its record highs. Market analysts attribute this downturn to a combination of factors, including Trump’s “aggressive geopolitical” stance and ongoing concerns about elevated inflation. Chris Newhouse, director of research at Cumberland Labs, noted, “Tariff policies are further dampening the outlook, and stubbornly high short-term inflation expectations add to the overall caution.” Newhouse also highlighted that the Bybit Ethereum (ETH) hack has not only exerted downward pressure on Bitcoin’s price but has also negatively impacted overall market sentiment. Investors Pull Back Amid Declining Demand For ETFs The market has also witnessed a significant liquidation of bullish bets, with around $2 billion wiped out over the past three days, according to data from Coinglass. Bitcoin perpetual futures—a popular method for offshore investors to leverage their positions—saw a sharp decline in long positions during this timeframe. Adding to the bearish sentiment, demand for Bitcoin exchange-traded funds (ETFs) has waned, with the group experiencing approximately $2.1 billion in outflows over the past six days. This reflects a broader trend of investors pulling back, with more than $1 billion withdrawn from spot Bitcoin ETFs on Tuesday alone, marking the largest outflow since these funds debuted in January of the previous year. The Fidelity Bitcoin Fund (FBTC) and BlackRock iShares Bitcoin Trust ETF (IBIT) were among the hardest hit. Related Reading: Avalanche (AVAX) Overextended—Is A Market Shakeup Imminent? Bohan Jiang, head of over-the-counter options trading at Abra, commented, “This is a mix of spot selling and basis unwind. In my view, nearly all of this is from ETF spot outflows from directional traders.” Ethereum has also felt the impact of the Bybit incident, amplifying its volatility, while Solana (SOL) has surrendered gains achieved in recent months amid declining interest in memecoins. The market’s search for a new catalyst to reverse its bearish sentiment has led many investors to remain on the sidelines, rotating out of cryptocurrencies in a risk-off environment. Ravi Doshi, co-head of markets at crypto prime broker FalconX, stated, “The crypto market is still in search of a new catalyst to reverse bearish sentiment.” Currently, BTC is attempting to find support at $84,578, but has fallen another 4.5% in the 24-hour time frame. Featured image from DALL-E, chart from TradingView.com
The crypto market is experiencing a significant upheaval, with a staggering $300 billion erased in just 24 hours. This massive sell-off has raised concerns among investors, prompting analysts to explore the underlying causes of this dramatic decline. Bitcoin And Ethereum Plummet According to insights from the Kobelsi Letter, a global commentator on capital markets, the frequency of “flash crashes” in the crypto sector has surged since January. These rapid price declines can occur without major bearish news, leaving investors puzzled about the sudden volatility. The recent downturn began with Bitcoin (BTC), which initially fell below $95,000. However, a sharp drop from $95,000 to $90,000 within just 30 minutes early in the morning served as a wake-up call for traders. Ethereum (ETH) has fared even worse, experiencing a staggering 37% drop over 60 hours on February 2nd, despite trade war headlines that had already been priced into the market. Related Reading: Why Ethereum Is A Must-Watch: Expert Analysis Highlights 4 Strong Bullish Indicators One of the critical factors contributing to this crypto volatility, according to the analysts, is the drastic shift in liquidity and short positioning in Ethereum. In a single week, short positions surged by 40%, and since November 2024, they have skyrocketed by 500%. This unprecedented level of shorting by Wall Street hedge funds has created a precarious situation for Ethereum, which is now valued at approximately $300 billion. As institutional investors increasingly short Ethereum, many have turned their attention to Bitcoin, creating a stark contrast in market dynamics. While retail interest in Bitcoin has waned, driven partly by a surge in memecoins, institutional capital continues to flow into Bitcoin, exacerbating the volatility in altcoins like Solana. Retail Vs Institutional Investors Amid Crypto Volatility Kobelsi further highlights that the current market environment is characterized by a polarization between retail and institutional investors. As liquidity decreases, price movements become increasingly erratic. This has resulted in significant “air pockets,” where sentiment can shift dramatically, leading to rapid price changes. Recent sentiment analysis reveals that the crypto market is experiencing its lowest levels of enthusiasm for 2024. The Crypto Fear and Greed Index, which previously indicated a state of greed, has now dropped to a fear level of 29%. Such shifts in sentiment often precede flash crashes, as traders react to the changing landscape. Related Reading: XRP Price Continuation After Crash Below $2.4? New Targets Emerge Adding to the complexity of the situation, public figures like Eric Trump have been vocal about their views on the largest crypto assets, Bitcoin and Ethereum. Trump has suggested that these price dips present buying opportunities, a perspective that may influence retail investors’ behavior. Furthermore, companies like MicroStrategy have also impacted the crypto market dynamics. Despite a 45% drop in its stock since its November 20th peak, MicroStrategy continues to accumulate Bitcoin through convertible note offerings, reinforcing its commitment to the crypto and potentially influencing market sentiment. So far, Ethereum has managed to regain the $2,500 level after falling below $2,300 on Tuesday, recording losses of 7% in the 24-hour time frame. Featured image from DALL-E, chart from TradingView.com
Bitcoin (BTC), the market’s leading cryptocurrency, has officially entered a new downtrend phase following a period of consolidation around the mid-$90,000 levels. After reaching an all-time high of $109,000 in January, Bitcoin has now seen a significant drop of 7%, bringing its current price to approximately $87,400. This decline raises concerns about the sustainability of the broader bull market as investor sentiment shifts towards fear. Could A Drop Below $80,000 Be Imminent? Market expert Jesse Olson recently took to social media platform X (formerly Twitter) to question whether Bitcoin is nearing a local top or possibly “the” top for this market cycle. Olson referenced historical data suggesting that previous pivot points for Bitcoin often signal significant downturns. He highlighted two notable instances: In April/May 2021, the Bitcoin price experienced a pivot point about 20% below its local top, leading to a price drop of 56%. In November 2021, the pivot was around 15% from “the” top, resulting in a staggering 77% decline. Currently, the price sits approximately 15% below the recent peak, and Olson notes a pending sell signal on BTC’s 3-day chart, indicating potential further downside. Related Reading: Litecoin Trading Activity Increases Over The Past Month – Potential LTC ETF Draws Speculation The expert also mentioned that while Bitcoin has hit Target 2 of 4 in his analysis, several indicators suggest the price could drop below $80,000, with higher time frames beginning to show bearish signals. Arthur Hayes Warns Of Bitcoin Downturn Adding to the bearish sentiment, market expert Arthur Hayes expressed concerns in a recent post on X, warning of a potential extension of Bitcoin’s downturn. Hayes highlighted that many holders of BlackRock’s Bitcoin exchange-traded fund (ETF), IBIT, are hedge funds that have gone long on the ETF while simultaneously shorting Chicago Mercantile Exchange (CME) futures to earn a yield greater than short-term US treasuries. Should Bitcoin’s price continue to fall, Hayes suggests that these funds may unwind their positions, selling IBIT and buying back CME futures. This profit-taking strategy could lead to further declines in Bitcoin’s price, potentially pushing it down toward the $70,000 mark. Related Reading: Dogecoin Activity Levels Crash To 4-Month Lows, Does This Spell Doom For The Meme Coin? Despite the prevailing bearish outlook, analyst Doctor Profit presents a more optimistic perspective. He emphasizes that the production cost of Bitcoin is currently at $95,000, meaning the market price is below this critical threshold. Historically, prices trading below production costs have signaled prime buying opportunities for investors. Doctor Profit argues that this situation creates a compelling case for potential investors, as the market often sees price rebounds when production costs are higher than market prices. Featured image from DALL-E, chart from TradingView.com
Bitcoin (BTC) and other cryptocurrencies are experiencing renewed selling pressure as escalating trade tensions between the United States and China lead to fresh tariffs on both sides. The largest cryptocurrency dropped to as low as $91,000 on Monday, while major altcoins like Ethereum (ETH) and Solana (SOL) also faced losses. CME Bitcoin Futures Open Interest Drops 4% The most recent installment of tariffs comes after the US enacted a 10% tax on all items from China, leading China to respond with its own tariffs on certain US imports, such as oil and liquefied natural gas, starting February 10. In another development, China has launched an inquiry into Google LLC over supposed antitrust infringements, intensifying the tension between the two economic giants. Related Reading: Solana Retraces TRUMP Meme Pump Gains – But Technicals Suggest A $300 Run This market turbulence has wiped out the benefits from a short relief rally on Monday, which occurred after the Trump administration decided to postpone tariffs on Mexico and Canada for a month. The weekend’s initial declaration of US tariffs had already triggered a steep drop in cryptocurrency prices. Investor trust in riskier assets has been notably affected, as US investors pulled a net $235 million from a set of 12 Bitcoin-centric exchange-traded funds (ETFs) on Monday. Moreover, open interest in Bitcoin futures contracts on the Chicago Mercantile Exchange (CME) Group Inc.’s derivatives market decreased by 4%, reflecting a more cautious attitude among institutional investors. President Donald Trump, recognized for his pro-crypto position, has unintentionally brought more uncertainty to digital asset markets. Although cryptocurrencies experienced a rise following Trump’s election, the market now faces a difficult landscape marked by geopolitical strife and regulatory obstacles. Historical Trends Suggest Potential For Deeper Corrections As of this writing, Bitcoin was trading at $98,970, about 13% shy of its all-time high. Meanwhile, US ETFs investing in Ethereum witnessed record trading volumes on Monday, with significant liquidation of leveraged positions rattled by ongoing trade uncertainties. The iShares Ethereum Trust, led by BlackRock, accounted for nearly half of the $1.5 billion in trading volume among a group of nine ETFs. ETH plummeted by as much as 27% on Monday, leading to over $600 million in liquidations within perpetual futures markets, according to Bloomberg data. Related Reading: TRUMP Coin Tanks 18%—Even Donald Trump Couldn’t Save It Analyzing current price trends, crypto analyst Ali Martinez identified $92,180 as a critical support level for Bitcoin, based on MVRV (Market Value to Realized Value) pricing bands. If this support level fails, the next target could be $74,400. Despite the recent price correction, Bitcoin traders are still enjoying a profit margin of 3.36%. Historically, local bottoms have formed when profit margins drop below -12%, suggesting that Bitcoin could have further downside potential before reaching a true bottom. Additionally, the MVRV Momentum indicator has remained in negative territory since the beginning of the year, signaling ongoing market weakness. Featured image from DALL-E, chart from TradingView.com
The Bitcoin (BTC) price has recently entered a consolidation phase following significant upward movements, as the cryptocurrency market experiences heightened volatility at the start of the year. Currently, the market’s leading cryptocurrency is hovering above the critical $100,000 milestone, with analysts suggesting that further price increases could be on the horizon. Analyst Warns Of ‘Overly Bullish Sentiment’ In a detailed analysis by a market expert known on social media as Daily Crypto Trading, the Elliott Wave Theory is being employed to predict Bitcoin’s next moves. According to this analysis, the market could be witnessing a flat corrective wave, with a target in the range of $90,000. The analysis confirms that the recent flat ABC structure held firm at the 89-90k levels, indicating that wave 4 has completed. Related Reading: XRP Forms A Bullish Pattern In 4-Hour Chart – Analyst Expects $4.20 After Breakout The analysis highlights that while the sentiment surrounding Bitcoin’s future is “overwhelmingly bullish,” this can often serve as a cautionary sign. As Daily Crypto Trading notes, “Even though wave 4 is done, the sentiment is overly bullish, which is normally a red flag.” Investors are encouraged to approach the situation with caution, acknowledging that while the analysis is rooted in probability, it does not guarantee outcomes. The macroeconomic landscape is also crucial for understanding Bitcoin’s trajectory. Daily Crypto Trading has previously discussed the potential impact of an impending recession, suggesting that macroeconomic factors must be considered before diving into technical analysis. What A $130,000 Price Breach Means For Bitcoin? The Elliott Wave Theory, which has been notably accurate in previous predictions, is a key component of this analysis. It posits that markets move in predictable waves, and currently, the focus is on the final sub-wave of wave 4. The expert anticipates that if Bitcoin surpasses the critical level of $109,000, it will confirm the onset of impulsive wave 5, suggesting a bullish continuation. Should Bitcoin achieve a strong wave 5, projections indicate a potential price increase of 40-50% from the current levels, with Fibonacci extension levels suggesting targets of $113,000, $117,000, and even $121,000. However, there is a caveat: the wave could be truncated, leading to a double top formation and subsequent corrections, or it may fail to reach a new all-time high (ATH). Thus, surpassing the $109,000 mark is deemed a critical milestone for increasing the likelihood of a blow-off top reaching $120,000. Related Reading: Ethereum Price Eyes $4,000 With Rising Channel Pattern Conversely, if Bitcoin were to dip back to the $90,000 area, it would indicate the formation of a regular zigzag pattern, implying that wave 4 may not be complete. As a contingency, an invalidation point has been established at $130,000; a breach of this level could suggest an unforeseen bullish breakout toward a target of $170,000. Currently, BTC is trading at $104,300, recording losses of 1.4% in the 24-hour time frame. Featured image from DALL-E, chart from TradingView.com
As Bitcoin (BTC) consolidates above the significant $100,000 milestone, previously a challenging resistance level to breach, market analysts are closely monitoring its potential for further price increases and the possibility of new all-time highs (ATHs). A critical threshold of $109,000 looms in the near future for the market’s leading cryptocurrency, but the clock may be ticking as experts warn of an impending bear market that could emerge within just three months. Analyst Warns Of Imminent Bear Market For Bitcoin Market expert and technical analyst Ali Martinez raised concerns in a recent social media post on X (formerly Twitter), based on historical patterns observed following Bitcoin’s Halving events. Related Reading: Solana Active Addresses Surge To 832K Per Hour Outpacing Ethereum Amid TRUMP Meme Coin Hype The analyst suggests that Bitcoin and the broader cryptocurrency market could enter a bear cycle approximately 90 days from now. This prediction is grounded in the cyclical nature of Bitcoin’s price movements, particularly during Halving years, which historically have been followed by significant corrections. As further seen in the chart above, Martinez points out that examining the total days of each BTC Halving cycle reveals a striking resemblance to the previous cycle between 2012 and 2016, which lasted 367 days before entering a bear market. As of now, Bitcoin and the broader cryptocurrency market is at 276 days into this cycle, suggesting that a downturn may be closer than some investors anticipate. Will Prices Reach $200,000 Before The Drop? Further analysis from Martinez incorporates the Wyckoff Method, a technical analysis framework that identifies market cycles. According to this method, Bitcoin may be approaching its final leg up before entering the Distribution Phase, a period of consolidation before a price decline. In this phase, Ali Martinez predicts that the BTC price could trade between $140,000 and $200,000 before experiencing a significant drop back toward the $100,000 level. Related Reading: Ethereum Whales Keep Buying As Price Struggles – Expert Discloses Massive Accumulation But despite these cautionary forecasts, Martinez also notes that there remains potential for growth in the short term. He draws comparisons to the 2015-2018 cycle, asserting that Bitcoin’s price action at this juncture shares striking similarities with that period, which eventually led to parabolic price increases. Additionally, the Mayer Multiple, a metric that gauges Bitcoin’s overbought conditions, is currently being scrutinized. Historically, the Mayer Multiple has indicated market tops when Bitcoin trades above the 2.4 oscillator. Presently, this level sits near $182,000, suggesting that Bitcoin still has room for growth before reaching a potential market peak this cycle. At the time of writing, the largest cryptocurrency by market cap is trading at $102,900, down over 1.5% in the 24-hour time frame. Featured image from DALL-E, chart from TradingView.com
In a promising development, the Bitcoin price is inching closer to the coveted $100,000 mark as it trades above $98,000 for the first time since late December. Crypto analyst Ali Martinez has highlighted several critical metrics that could signal further bullish momentum for the leading cryptocurrency as the market begins to recover. Bitcoin Price Surges Amid Coinbase Premium Index Low One of the significant indicators discussed by Martinez is the Coinbase Premium Index, which recently hit -0.23%, its lowest point in two years. This index measures the price difference between Bitcoin on Coinbase and other exchanges. A negative premium suggests that US-based investors may be less willing to pay a premium for Bitcoin, but the current rebound could indicate a shift toward growing institutional interest in the asset. Related Reading: Prepare For A Solana Sell-Off: How Grayscale’s 2025 Unlocks Could Shake The Market Martinez also noted that the recent uptick in the Bitcoin price comes amid a notable withdrawal trend, with over 48,000 BTC—valued at more than $4.5 billion—pulled from exchanges in the past week. This trend indicates a bullish sentiment among investors, despite a brief price correction that occurred late last year. Despite these positive signals, Martinez cautions that Bitcoin is at a crucial juncture. He emphasized the importance of sustaining a close above the 50-day moving average (MA), currently just above $96,000. A failure to maintain this level could lead to a potential downward correction. Conversely, a sustained close above the 50-day MA could signal the end of the recent correction and confirm a more robust bullish trend. Strong Upward Move Expected After Wave Three Breakout In addition to Martinez’s insights, the Elliot Wave Academy has provided a technical analysis of the recent Bitcoin price movements, suggesting that the cryptocurrency is currently in the fourth wave of a larger bullish cycle. The academy’s analysis indicates that after a powerful breakout from a price channel, Bitcoin has successfully surpassed the ideal level of wave three, which may signal a strong upward move. The fourth wave, according to their analysis, is characterized by a sideways pattern following the sharp rise of wave three. The potential correction zones for this wave have been identified, and should these levels be breached, the next upward wave could target a Bitcoin price range between $117,475.70 and $138,058.37. These figures represent major bullish targets that could attract further investment and drive Bitcoin’s price higher. Related Reading: Dogecoin Recovery In Sight: Strong Support Hints At Bullish 2025 All around, as the Bitcoin price continues its upward trajectory, the combination of significant withdrawals from exchanges, a low Coinbase Premium Index, and positive Elliott Wave analysis paints a compelling picture for the cryptocurrency’s future. However, investors should remain vigilant, keeping an eye on critical price levels that could determine the market’s next move. At the time of writing, the market’s leading crypto is trading at $98,320. Featured image from DALL-E, chart from TradingView.com
Tom Lee, the head of research at independent financial analysis firm Fundstrat, has reiterated his optimistic outlook for the Bitcoin price, predicting that the cryptocurrency is on track to reach the $100,000 mark before the year concludes. Optimistic Bitcoin Price Outlook In a recent appearance on CNBC’s Squawk Box, Lee discussed the implications of the political landscape following Donald Trump’s victory over Kamala Harris in the presidential election, suggesting that Bitcoin could play a pivotal role in the upcoming administration. Lee articulated that Bitcoin could serve as a solution to some of the United States’ fiscal challenges, particularly if it is designated as a national reserve asset—a promise made by Trump earlier this year at the National Bitcoin Conference in Nashville. Related Reading: Trump Social Media Firm In Talks To Expand Into Crypto With Bakkt Acquisition The Fundstrat executive also highlighted Bitcoin’s robust security features and its underlying blockchain technology, arguing that these elements position it as a viable alternative to some existing financial structures. Lee believes that Bitcoin’s attributes could address several issues inherent in the current economic framework, further boosting its appeal among investors. When discussing his price forecast, Lee expressed confidence, stating, “I think comfortably over $100,000 makes sense before the end of the year.” Lee noted that the current Bitcoin price trajectory is consistent with historical patterns observed during previous Halving cycles, events that typically reduce the rate at which new BTC are created and ultimately have a positive impact on price action. Key Support Levels Identified Crypto analyst Ali Martinez also provided insights into the current Bitcoin price price dynamics, but drawing parallels with historical market behavior. He noted that during the 2017 bull market, Bitcoin surged by 156% beyond its previous all-time high before experiencing a significant correction of -39%. Similarly, in 2020, Bitcoin rose 121% prior to a -32% pullback. Based on these patterns, Martinez suggests that Bitcoin could potentially reach at least $138,000 before facing its first major correction. Further analyzing past trends, Martinez pointed out that after Bitcoin broke its previous all-time high of $19,700 in 2020, it initially surged by 26%, consolidated for about a week, and then jumped to $40,000. Currently, Bitcoin has increased by 28% after surpassing its previous all-time high and has been consolidating for the past six days, leading Martinez to speculate that history might be repeating itself. However, he also cautioned that Bitcoin could be on the verge of a steep correction. He highlighted a growing sense of greed among crypto enthusiasts as evidenced by a notable spike in Google search interest for Bitcoin, reflected in the profits realized by investors, who have collectively taken home over $5.42 billion. Related Reading: MicroStrategy Makes Record $4.6 Billion Bitcoin Purchase, Largest Yet From a technical analysis standpoint, Martinez flagged the TD Sequential indicator, which has presented a sell signal on Bitcoin’s daily chart. Additionally, the Relative Strength Index (RSI) suggests that Bitcoin is currently in overbought territory, signaling potential for a price pullback. In the event of a correction, Martinez identified key support levels to monitor, specifically between $85,800 and $83,250, as well as further down at $75,520 to $72,880. The analyst emphasized that for a bullish outlook to remain intact, the Bitcoin price needs to maintain a sustained daily close above $91,900. Such a close could invalidate the bearish sentiment and potentially trigger a breakout toward a target of $100,680. As of this writing, the leading digital asset is trading at $90,970, up nearly 2% in the 24-hour time frame. Featured image from DALL-E, chart from TradingView.com
Cathie Wood, CEO of asset manager and crypto ETF issuer ARK Invest, has long maintained her bullish outlook on Bitcoin, and her recent comments reinforce her optimistic projections for the largest cryptocurrency. Following Donald Trump’s electoral victory over Vice President Kamala Harris last week and Bitcoin’s recent surge to an all-time high of $93,250, investor sentiment surrounding Bitcoin has notably improved. Anticipated Regulatory Relief In a recent interview on CNBC’s Squawk Box, Wood discussed her expectations for Bitcoin’s price trajectory. She stated that ARK Invest’s targets for 2030 range between $650,000 and, in a bullish scenario, between $1 million and $1.5 million. Ark’s CEO attributed the current uptrend in Bitcoin’s value to several catalysts, particularly the anticipated regulatory relief that could come from Trump’s new administration. Related Reading: Major Hindrances To Dogecoin Price Hitting $1 According To This Crypto Analyst The now 47th President of the United States has vowed to make significant changes, particularly in the leadership of the US Securities and Exchange Commission (SEC), headed by Gary Gensler and characterized by lawsuits, Wells Notices and increased scrutiny of key industry players. This has led to notable discontent over the past three years of his tenure at the regulatory agency, prompting executives and investors in the digital asset ecosystem to call for a change for a clearer regulatory framework that could invite further adoption and growth of the market. However, Trump promised to fire Gary Gensler on the first day of his new administration, which is expected to begin on January 20. He also vowed to make America the “crypto capital of the world” with a new framework and support for digital assets, with Bitcoin at the center of his economic agenda. This has resonated well with industry advocates, as evidenced by the broader market rally led by the market’s largest digital assets, which have risen nearly 25% since Trump’s election victory. Bitcoin As A Unique Asset Class During the interview, Wood also highlighted that ARK Invest was the first public asset manager to invest in Bitcoin when it was priced at just $250 in 2015. The asset manager believes that even at approximately $90,000, Bitcoin still has significant growth potential. According to Wood, Trump’s victory is pivotal, as it signals a shift toward a more favorable regulatory environment for the cryptocurrency sector—an outcome she views as crucial for Bitcoin’s future. Related Reading: XRP Breaks Above Multi-Year Resistance – Top Analyst Shares Price Target Furthermore, Wood emphasized that Bitcoin has evolved into a distinct asset class, separate from traditional currencies. She believes that this shift indicates that institutional investors and asset allocators are increasingly looking to include Bitcoin in their portfolios, recognizing its potential as both a store of value and a hedge against inflation. At the time of writing, BTC is hovering around the $90,120 mark, still up 16% in the weekly time frame, despite the current retracement experienced over the past 48 hours. Featured image from DALL-E, chart from TradingView.com
The massive Bitcoin (BTC) rally following Donald Trump’s victory in the US presidential election is beginning to show signs of slowing down, particularly in the derivatives market, as evidenced by the leading digital asset’s retreat below the $90,000 mark on Thursday. Bitcoin Experiences Significant Liquidation Activity According to Bloomberg data, the premium for CME-listed Bitcoin futures contracts—commonly used by institutional investors to speculate on price movements—has decreased, indicating a potential shift in market sentiment. K33 Research notes that the basis, or the difference between the futures price and the spot price, has dropped to around 10% after previously hovering between 13% and 16% since the election. Related Reading: New Era For Crypto Regulation? SEC Chair Gensler Suggests He May Step Down Vetle Lunde, head of research at K33, remarked, “Markets seem to be cooling down… that might have been a subtle hint of moderating risk profiles.” This shift suggests that investors may be reassessing their strategies in light of the recent price volatility. Currently, Bitcoin is trading at $87,970, down from its all-time high of $93,462 reached just a day ago. Since Trump’s election victory, the cryptocurrency has seen an increase of over 30%. However, this rally has been accompanied by significant liquidation of leveraged bullish positions. In the past 24 hours, liquidations of long positions—those betting on price increases—totaled $447 million, compared to $207 million for bearish bets. Renewed Trader Interest Profit-taking is also contributing to the recent downturn, particularly as Bitcoin approached the $90,000 mark, which has historically been a significant level for open interest in call options. James Davies, CEO of Crypto Valley Exchange, noted, “Crazy speculative days in the market, big profit taking in the last few hours… $90k is a massive level in the call options open interest.” The rally has primarily been fueled by fresh demand in the spot market, evidenced by substantial inflows into exchange-traded funds (ETFs) backed by Bitcoin and relatively moderate leverage among traders. Interestingly, the funding rate for Bitcoin perpetual futures on offshore exchanges rose after falling earlier in the week, indicating renewed interest among traders after the so-called “Trump trade” catalyst. Related Reading: Solana ‘God Candle Is Close’ As It Breaks From Crucial Resistance – Top Analyst Options traders are increasingly optimistic, with growing interest in calls with strike prices at $110,000 and $120,000, according to data from Deribit. As Davies commented, “It’s all pure speculative trading right now, expect lots of volatility and a lack of clear signals for a while whilst we wait for policy announcements in the U.S.” As the market approaches the expiry of November options, all eyes will be on whether the $90,000 price point will serve as a resistance level or if Bitcoin can surpass it once again. Featured image from DALL-E, chart from TradingView.com
As the US presidential election approaches, former President Donald Trump’s odds on crypto betting platforms like Polymarket have surged, with analysts predicting significant implications for Bitcoin prices if he secures a second term in the Oval Office. However, market expert Patrick H. warns that the current favorable conditions supporting Bitcoin’s rally toward a new record high may shift dramatically under Trump’s proposed fiscal policies for the coming year. ‘No Money Printing, No Gains’ In a recent analysis shared on X (formerly Twitter), Patrick H. posited that if Trump is re-elected and appoints Elon Musk as the head of the newly proposed Department of Government Efficiency (DOGE), the era of aggressive money printing could come to an end. During a Trump rally at Madison Square Garden on Sunday, the Tesla CEO revealed plans for the DOGE initiative, suggesting it could reduce federal spending by at least $2 trillion. Related Reading: Ethereum Holds Key Support To Set A $6,000 Target – Analyst Patrick H. argues that without continued money printing, there may be limited upward movement in Bitcoin prices. “No money printing, no price going up,” he stated. The expert believes that the market may not be fully accounting for the ramifications of a Trump victory on both the cryptocurrency and stock market outlook for 2025. Additionally, Patrick raised alarms about the Bank of Japan’s concerns regarding the US stock market if Trump implements these proposed policies. He warned that such changes could lead to an “economic shock” in 2025, further complicating the landscape for crypto prices. The Bitcoin Rally And The Potential Impact For Altcoins Delving into the current price dynamics, market analyst Miles Deutscher recently said that despite Bitcoin trading just below its all-time highs, the market feels “unusually quiet,” attributing the silence to a lack of retail investor participation, which he argues is crucial for driving momentum in the cryptocurrency market. Deutscher pointed out that from October 2023 to March 2024, altcoins experienced significant rallies, with many rising four to five times from their lows. Coins in trending sectors, particularly those related to artificial intelligence and meme coins, even saw increases of 10 to 15 times during this period. However, the analyst highlights that it wasn’t until February that retail interest re-emerged, as evidenced by metrics like Google Trends, app store rankings, and YouTube views. Deutscher believes that this delay in retail engagement raises an important point: substantial price movements in cryptocurrencies often occur without immediate retail participation. According to the analyst, the Pareto Principle applies here—80% of gains typically occur during the final 20% of a price movement. This means that retail investors tend to wait until significant upward momentum is already established before entering the market, suggesting further price gains in the months ahead. Related Reading: XRP Price Explosion Above $3 Is A Matter Of When, Not If: Analyst Reveals Timeline In the current context, the recent altcoin rally has only lasted four weeks following a six-month downtrend. Deutscher recalls that in the previous cycle, it took five months for retail investors to notice the market’s recovery. The analyst predicts a similar pattern may unfold again, although he asserts that the trust built during the March rally could shorten the time frame for renewed retail interest. Still, Deutscher emphasizes that Bitcoin breaking through its all-time highs would serve as powerful marketing for the entire cryptocurrency space. Ultimately, the analysts explains that the resulting “wealth effect” from the current Bitcoin rally is likely to catalyze further increases in altcoin prices, creating a positive ripple effect throughout the market. At the time of writing, the largest cryptocurrency on the market has managed to regain the $72,000 level after a brief correction to $71,400 in the past 24 hours. Featured image from DALL-E, chart from TradingView.com
As Bitcoin (BTC), the largest cryptocurrency by market capitalization, inches closer to its all-time high of $73,700 reached in March, the US spot Bitcoin ETF market has re-emerged as a key driver of the cryptocurrency’s recent price surge. On Tuesday, total trading volume for spot Bitcoin ETFs surpassed $3 billion, coinciding with Bitcoin’s price briefly above the pivotal $73,000 mark for the first time in over 7 months. Bitcoin ETF Market Set To Surpass 1 Million BTC Holdings Soon Notably, crypto investor BigRig observed a remarkable uptick in Bitcoin ETF purchases over the past two weeks, reporting $2.673 billion in inflows since October 16. This accounts for a substantial 11.8% of total ETF inflows during this period, suggesting a robust interest from institutional and retail investors. BigRig also pointed out that, prior to Tuesday’s trading volume, this period represented the best day for ETF inflows. Related Reading: Dogecoin Price Is About To Complete This Breakout To A Descending Megaphone Pattern, Is $1 Next? Bloomberg ETF analyst Eric Balchunas added to the optimistic narrative by stating that US spot ETFs are on track to hold 1 million Bitcoin by next Wednesday, surpassing the holdings of Satoshi Nakamoto, the enigmatic creator of Bitcoin, by mid-December with an average addition of about 17,000 BTC per week. However, Balchunas also cautioned that market volatility could impact these projections. “Anything can happen,” he noted, referencing the possibility of a sudden selloff that could delay the timeline. Conversely, if prices continue to rise and political factors, such as a potential Trump victory in the upcoming election, contribute to increased market enthusiasm, the expert believes that this influx of new investors could accelerate the pace of Bitcoin’s ascent to new highs. Whale Accumulation Spurs Optimism Despite heightened activity in the Bitcoin ETF market, the price of the largest cryptocurrency recently fell short of its all-time high, retracing to approximately $72,250 at the time of writing. However, there are positive indicators for Bitcoin bulls. The cryptocurrency has been consolidating above key support levels, with strong backing around the $66,000 mark. This support has effectively prevented any significant decline over the past week and has contributed to the ongoing rally. However, what would be a notable bullish indicator would be a sustained consolidation above the $70,000 level for the bulls, which could further demonstrate the strength of the current move. Related Reading: Analyst Says XRP Price Is Ready For A Breakout As Metrics Turn Bullish, What To Expect Market expert Miles Deutscher has been vocal about his bullish outlook for Bitcoin, particularly in the latter months of the year. He recently pointed out a significant trend: whales—large holders of Bitcoin—are accumulating the cryptocurrency at an “unprecedented pace.” This observation suggests that institutional demand for Bitcoin is currently outpacing retail interest, a shift that could have implications for massive price movements to the upside in the near future. Deutscher further highlighted that Bitcoin exchange reserves have reached all-time lows. This means that the amount of Bitcoin available on exchanges for trading has dwindled, signaling a supply squeeze. Featured image from DALL-E, chart from TradingView.com
As the week progressed, the Bitcoin (BTC) price steadily climbed toward its all-time high of $73,700 in March of this year. This upward momentum is in line with the predictions of various market experts, expecting significant gains for the leading cryptocurrency by the end of the year. One such expert, crypto analyst Gert van Lagen, recently shared his insights on Bitcoin’s price trajectory via social media platform X (formerly Twitter). He analyzed BTC’s parabolic curve and identified a distinctive step-like formation pattern, which he believes signals a colossal wave 5 rally in the coming months. Potential ‘Shake-Out Of The Century’ In his analysis, van Lagen presented a Bitcoin chart demonstrating that the cryptocurrency has successfully navigated several hurdles since April 2023. He categorized the price movement into three distinct phases, marking the base of the uptrend pattern that has ignited the current bullish trend. Currently, van Lagen notes that Bitcoin’s price action is centered around base 4 of this pattern, indicating a consolidation phase between the $53,700 and $68,000 levels, with the former identified as bull market support for this cycle. Related Reading: Dogecoin Sees Sharp Decline: Over 106,000 Wallets Abandon The Memecoin Van Lagen asserts that the validation of Wave 4 is imminent as Bitcoin approaches its record peak. He predicts that once Bitcoin breaks through base 4 and achieves a new all-time high, it could trigger a substantial rally in wave 5, potentially targeting prices around $250,000. However, the analyst also warns of a significant downturn that may follow this surge. He suggests that once Bitcoin reaches the anticipated peak, a “recession” could ensue, with price targets plummeting to as low as $10,000, and in a more extreme scenario, down to $1,000. He describes this potential decline as the “shake-out of the century,” should these projections materialize. In the medium term, the increased volatility that has characterized Bitcoin’s price over the past month has prompted the analyst to explain that if Bitcoin fails to break through the $70,000 resistance level – a barrier it has struggled with in four previous attempts – then the $57,500 level will serve as a crucial support level for the cryptocurrency. Historical Patterns Suggest Bitcoin Price Increases Ahead In another sign of confidence in the biggest cryptocurrency’s prospects for further gains, Blockforce Capital’s Brett Munster noted that conditions are ripe for a “perfect storm” favoring Bitcoin and other cryptocurrencies after six months of price consolidation. Munster highlighted the role of global liquidity in this potential surge, pointing to increased capital injections from central banks worldwide. Notably, China has implemented stimulus measures to revitalize its economy. Related Reading: Ethereum Open Interest Sees Fastest Rise In 5 Months: Brace For More Volatility? Historical data suggests that when global liquidity surpasses its moving average, it often coincides with substantial price increases for Bitcoin. In addition, optimism in the crypto market is further bolstered by a commitment from US Vice President Kamala Harris to support a regulatory framework for cryptocurrencies in response to long-standing concerns from the crypto community regarding the regulatory environment. At the time of writing, BTC has been trading at $68,300, up 3.6% in the last 24 hours. Featured image from DALL-E, chart from TradingView.com
As the broader cryptocurrency market experiences notable gains following the Federal Reserve’s rate cuts, Bitcoin (BTC) has reached a price of $63,670 on Thursday, marking substantial bullish momentum since late August. This surge has sparked increased interest from both retail traders and institutional players, leading to diverse positioning within the market. Divergence In Trader Strategies According to a recent post on social media site X (formerly Twitter) by technical analyst InspoCrypto, the recent price action on the Binance BTC/USDT perpetual futures chart highlights a strong upward trend, with Bitcoin breaking key resistance levels around $60,000. Related Reading: Crypto Analyst Predicts Dogecoin Will Surge 1,000% Past ATH – Price Targets Revealed The volume accompanying this price rise remains robust, according to the analyst, indicating solid support for the ongoing bullish movement. InspoCrypto suggests that while the market is currently in a bullish phase with no immediate signs of reversal, potential resistance is anticipated around $64,000 to $65,000. Insights from Hyblock Capital’s heatmap, reveal significant differences in positioning between large traders (whales) and retail investors. The heatmaps show an increase in long positions among retail traders, particularly in the $62,500 to $63,500 range. In contrast, whales have been accumulating short positions below $60,000, suggesting a cautious sentiment among institutional players despite the short-term optimism among retail investors toward the largest cryptocurrency on the market. Bitcoin Faces Key Liquidation Levels At $60,000 And $64,000 InspoCrypto further highlights that open interest in the futures market has also been rising along with the Bitcoin price, especially in the $62,000 to $63,500 range, indicating growing confidence in the bullish trend. In addition, the current funding rate is positive, suggesting that long positions are prevalent and traders are willing to pay a premium to maintain those positions. However, the analyst cautions that a sustained high funding rate could lead to market corrections as traders rebalance their positions. Related Reading: Is This The End For Ethereum Or A Generational Opportunity? Volume remains a critical indicator of market strength, supporting the bullish rally as it surpasses the $63,000 mark. Notably, the volume delta is positive, indicating more buying pressure than selling. However, there are significant liquidation levels at $60,000 and $64,000, which could trigger volatility if the market tests these price points. Overall, InspoCrypto contends that sentiment in the market is moderately bullish, rated at 7 out of 10. While retail traders appear confident and are predominantly taking long positions, the accumulation of shorts by whales signals a potential cautionary stance. At the time of writing, the industry’s largest digital asset is trading at $63,300 for the first time since late August. This represents a 5% increase over the past 24 hours, coupled with gains of 8% and 12% over the past seven and fourteen days, respectively. Featured image from DALL-E, chart from TradingView.com
Amid ongoing volatility for the Bitcoin price, which has struggled to reclaim its all-time high of $73,700, bullish predictions continue to emerge for the leading cryptocurrency. The latest forecast comes from VanEck, asset manager and Bitcoin ETF issuer with over $100 billion in assets under management. Bitcoin Price Projection In a recent update, VanEck projected that by 2050, the Bitcoin price could solidify its position as a key international medium of exchange, potentially becoming one of the world’s reserve currencies. This assertion is rooted in the anticipated decline in trust in current reserve assets, prompting a shift toward more stable alternatives like Bitcoin. One of the primary barriers to Bitcoin’s widespread adoption has been its scalability issues. However, VanEck anticipates that these challenges will be addressed through the development of Layer-2 (L2) solutions, which enhance Bitcoin’s functionality and efficiency. By combining Bitcoin’s immutable property rights with the advanced features of L2 solutions, VanEck envisions a global financial system better equipped to meet the needs of the developing world. Related Reading: Bitcoin Ends August Down 8%: What To Expect From Historically Bearish September With this in mind, the firm believes that by 2050, Bitcoin could be used to settle 10% of international trade and 5% of domestic transactions, leading to central banks potentially holding 2.5% of their assets in BTC. Based on projections of global economic growth, BTC demand and turnover, VanEck estimates a potential price of $2.9 million per Bitcoin, which translates to a total market capitalization of approximately $61 trillion. This forecast incorporates assumptions about the global trade landscape, with trade growth expected to lag behind overall Gross Domestic Product (GDP) growth—projected at 2% versus 3%. Moreover, VanEck anticipates a market share decline for traditional currencies, such as the US dollar and the Euro, due to deteriorating economic fundamentals, which would allow Bitcoin and other emerging currencies to gain traction. Store Of Value Potential From a medium-of-exchange perspective, VanEck suggests that Bitcoin could capture 10% of cross-border payments and 5% of domestic trade. The firm also highlights that as Bitcoin becomes increasingly recognized as a store of value, approximately 85% of the circulating supply may be effectively removed from the market, further driving its value. The analysis reflects a broader trend of the Bitcoin price correlation with traditional risk assets, suggesting that its movements will remain closely linked to macroeconomic conditions. Related Reading: SUI Crashes 23% As September Unleashes Market Panic—Is A Comeback Possible? As the global economy evolves, VanEck predicts that Bitcoin will become an essential component of the International Monetary System, gaining market share from existing reserve currencies. At the time of writing, the Bitcoin price stands at $59,140, up 3% in the last few hours after rebounding from a drop towards $57,000 on Monday. Featured image from DALL-E, chart from TradingView.com
After enduring a substantial drop to a seven-month low earlier this week, Bitcoin (BTC) showed resilience by reclaiming ground above the $57,000 threshold on Tuesday, sparking optimism among bullish investors who hoped that the worst of the downturn was behind them. However, the leading cryptocurrency has quickly retraced over 3% in the past few hours, slipping back towards the $54,900 level, suggesting a possible continuation of the prevailing downtrend. BTC’s CME Gap & Bearish Indicators Crypto analyst Rekt Capital weighed in on the situation, noting Bitcoin’s repeated retracements following unsuccessful attempts to stabilize at higher levels. Rekt Capital pointed out that Bitcoin stands on the verge of filling the CME Gap positioned between $53,700 and $54,600. While acknowledging the proximity of the current price at $54,900 to this gap, there’s uncertainty surrounding the necessity of filling it, especially considering its relatively minor size. Related Reading: BREAKING: XRP Price Rallies 27% As Ripple Secures Major Win In SEC Lawsuit The analyst mused on the possibility that this downward movement could merely signify a volatile daily retest around the $55,800 support level, which aligns with the lows seen in early July. However, if the CME Gap does require filling, doing so sooner rather than later, while the price remains in close proximity, could be a strategic move, according to Rekt’s analysis. Adding to the bearish indicators, Julio Moreno, Head of Research at data analytics firm CryptoQuant, highlighted a significant observation regarding the Bull-Bear Market Cycle Indicator. Moreno flagged a bear phase for the first time since January 2023. Previous instances of the indicator signaling bear phases coincided with major market events like the COVID-induced sell-off in March 2020 and the Chinese mining ban in May 2021, accurately predicting the onset of bearish trends in November 2021. $50,000 Bitcoin Support At Risk? Crypto firm Material Indicators has also shared bearish predictions in the near term for the Bitcoin price, raising red flags concerning Bitcoin’s bullish momentum. Observing a scenario where Bitcoin bulls are seemingly under siege, the firm notes a stabilization in BTC bids around the $50,000 mark. However, the cautionary tone emerges as they brace for a potential dip towards a crucial support level at $45,000 if the $50,000 mark fails to hold firm. Related Reading: Bitcoin Funding Rates Turn Negative: Shorts’ Turn To Get Squeezed? Adding to the market sentiments, market expert Jesse Olson has detected a pending sell signal on Bitcoin’s weekly Heikin Ashi chart. This signal, if confirmed, would mark only the fifth such occurrence since 2021, indicating a significant shift in market dynamics. Ultimately, it becomes increasingly apparent that Bitcoin must exhibit robust bullish momentum in the days ahead to counteract the intensification of the current downtrend. Revisiting its all-time high levels of $73,700, achieved in March, now appears contingent upon sustained upward movements to offset the prevailing market pressures. Featured image from DALL-E, chart from TradingView.com
In a bold display of faith in the future of the largest cryptocurrency on the market, Bitcoin (BTC), MicroStrategy co-founder and executive chairman Michael Saylor has disclosed that he owns around $1 billion. Saylor’s Bitcoin Vision Unshaken In a recent interview with Bloomberg Television, Saylor disclosed that he has been steadily accumulating Bitcoin over the past several years and has no plans to sell any of his holdings soon. “I continue to acquire more,” Saylor stated. “I think it’s a great capital investment asset for an individual, family, institutional corporation or country. I can’t see a better place to put my money.” Related Reading: Analyst Says Bitcoin Bottom Is Not In, Will Price Crash Below $50,000 Again? Saylor’s personal BTC stash is in addition to the over 226,000 BTC held by MicroStrategy, the enterprise software firm he co-founded and led as CEO until recently transitioning to the executive chairman role. MicroStrategy began amassing Bitcoin in 2020 to hedge against inflation and has since emerged as the largest publicly traded corporate holder of the cryptocurrency. The company’s Bitcoin holdings are currently valued at around $13 billion. Despite the recent volatility and price declines in the cryptocurrency market, Saylor remains unwavering in his conviction about Bitcoin’s long-term potential. He views it as a superior store of value and investment asset compared to traditional options like cash, bonds, or even gold. ‘Death Cross’ Analysis & Short-Term Sell Signals Amid Monday’s broader market crash, market expert Timothy Peterson noted in a social media post that Bitcoin had formed a “death cross,” where the 50-day average exceeds the 200-day average. Interestingly, Peterson notes that this rare event has only taken place eight times since 2015. Historical data analyzed by Peterson revealed that Bitcoin experienced a positive outcome approximately 62% of the time following previous’ death cross’ instances. Notably, downturns were observed during bear market years such as 2014, 2019, and 2022. Nevertheless, Peterson expressed skepticism about a repeat of such downturns, suggesting that Bitcoin plummeting below $40,000 by year-end seems improbable. Instead, he projected a potential surge to over $90,000 by the year’s close, drawing parallels to past bullish trends following similar patterns. Related Reading: Cardano Price Crash Below $0.3: Is It Time For You To Buy ADA? Despite these optimistic projections, the short-term outlook for Bitcoin faced a dose of caution from crypto analyst Ali Martinez. On Tuesday, Martinez raised concerns as the TD Sequential indicator signaled a sell order on Bitcoin’s 4-hour chart. This indicator, which assesses potential trend exhaustion points, hinted at an impending correction as Bitcoin’s price surged above $57,000 on Tuesday. The analyst’s warning proved prescient as Bitcoin underwent a retracement of nearly 3% within the last 24 hours, hitting a daily low of $54,700. Featured image from DALL-E, chart from TradingView.com
In the wake of the highly anticipated address by Federal Reserve Chair Jerome Powell, Bitcoin (BTC) maintained a steady course on Wednesday as the Fed opted to keep interest rates unchanged at 5.25%-5.50%. Crypto Market Awaits Fed’s Next Move Powell, speaking at a press conference in Washington DC, hinted at the possibility of rate reductions in September, contingent upon the economic performance in the weeks leading up to that month. “We’ve made no decisions about future meetings and that includes the September meeting,” Powell stated. “We’re getting closer to the point at which we’ll reduce our policy rate, but we’re not quite at that point yet.” Related Reading: This PEPE Holder Cohort Is The Reason Price Is Struggling To Reclaim $0.00002 In response to the Fed’s stance, crypto analysts weighed in on the implications for the digital currency space, with Michael van de Poppe, founder of MN Capital, expressing optimism over Powell’s “dovish outlook,” suggesting that a September rate cut remains a strong possibility. In his social media post, Van de Poppe expressed confidence that this development bodes well for both Bitcoin and altcoins, with an eye on the upcoming decision expected in September. Similarly, another analyst, Daan Crypto Trades, underscored Powell’s indication of a potential rate cut in September, projecting a high likelihood of its realization unless significant deviations occur following Consumer Price Index (CPI) readings. With 48 days remaining until the September meeting, Daan Crypto Trades proposed that market dynamics may revolve around this impending decision, potentially giving rise to short-term fluctuations after the initial rate adjustment in September. Bitcoin To Hit $1 Million In 2028? In a recent social media post, Timothy Peterson, a Bitcoin writer and researcher, unveiled a significant prediction for the largest cryptocurrency on the market that, if it holds true in time, could result in BTC’s price reaching unprecedented highs. According to Peterson, the Bitcoin price is directly and exponentially proportional to the square root of the number of Halvings that the network has undergone. In other words, the amount of new BTC introduced into circulation is cut in half approximately every four years, a process known as a Halving. “A combination of adoption curve math and Metcalfe’s Law puts Bitcoin’s price well over $500,000 by the next halving in 2028,” Peterson asserted. “This implies an annualized rate of return of about 70%.” Related Reading: XRP Analyst Thinks The Coin Is Ready To Skyrocket By 21,000% To Over $150 Peterson’s prediction is particularly noteworthy given Bitcoin’s current price of around $65,700, as if his prediction proves accurate, it would represent a massive increase of over 670% from current levels. Furthermore, the researcher suggests that Bitcoin should be “sustainably above $1 million” about 450 days after the next halving event in 2028, aligning with the observed pattern of previous Halving cycles, where Bitcoin has tended to experience a significant price surge in the years following each reduction in new supply. Featured image from DALL-E, chart from TradingView.com