Bitcoin Price To Witness Significant Gains In Last 3 Months Of 2024, Historical Data Shows

The price of Bitcoin started the year on a bounce, securing a new all-time high before the end of the first quarter of 2024. However, the second and third quarters werent all that rosy for the crypto market, with the premier cryptocurrency largely moving within a consolidation range. September, the last month of the third quarter, was predicted to dampen the bullish impetus of the Bitcoin price, but the contrary has been the case. According to data from CoinGecko, the Bitcoin price is up by more than 10% in September. What Happens To Bitcoin Price After A Green September? In a recent post on the X platform, popular crypto analyst Ali Martinez shared an insight into Bitcoins future trajectory based on its price action in the past few years. The crypto pundit explained that whenever the Bitcoin price closes with a green monthly candlestick in September, it sees even more significant gains in October, November, and December the last three months of the year. Related Reading: Analysts Who Correctly Predicted Bitcoin March ATH Forecasts What Happens Next As observed in the chart above, September is a historically bearish month for BTC, with the premier cryptocurrency ending the 30-day period with a loss eight times in the last 12 years. Most notably, the price of BTC declined by 19% and 13.4% in September 2014 and 2019, respectively.  Meanwhile, the flagship cryptocurrency had a green September in 2015 (2.35%) and 2016 (6.04%). The Bitcoin price ended 2023s third quarter on a high with a 3.91% gain in September, which in retrospect, seems to be the beginning of the current bull run. BTC followed this September performance with a trifecta of positive months. In October 2023, the price of Bitcoin registered an outstanding 25% rally to commence the bull run. This was followed by a mild 9% rise in November before the premier cryptocurrency ended the year with a 12% price surge. Interestingly, this red-hot streak was no coincidence, as historical data shows that the Bitcoin price tends to experience bigger price spurts in the months following a green September. For instance, BTC recorded significant double-digit gains in the last three months of 2015 and 2016 the only other years with a positive September. Going by this historical pattern, the Bitcoin price looks set for a significant rally over the next few months, especially having gathered some bullish momentum in the past 30 days. If this projection does hold true, the market leader would likely resume its bull run and potentially print a new all-time high price before year-end. BTC Price At A Glance  As of this writing, Bitcoin trades just beneath the $66,000 mark, reflecting a mere 0.2% dip in the last 24 hours. Related Reading: Dogecoin Could Target $0.20 Soon, Analyst Predicts Is DOGE Primed For A Rally? Featured image created by Dall.E, chart from TradingView

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Notcoin Set For More Gains Following 13% Price Rally Details

Telegram-based cryptocurrency Notcoin has attracted investors interest in the last 24 hours with impressive price performance. According to data from CoinMarketCap, Notcoin notched a 12.75% profit on Friday to emerge as the markets top gainer. While the assets momentum appeared to have cooled following a price correction in the last few hours, certain trading indicators encourage investors to retain a bullish sentiment. Related Reading: Crypto Analyst Says Telegram-Based Notcoin Is Ready To Fly, Heres How High Notcoin To Hit $0.014 If Buying Pressure Persists: Analyst In an X post on Friday, popular crypto analyst Ali Martinez shared a bullish prediction on Notcoin. According to Martinez, the SuperTrend indicator on the NOTs daily chart has shown a buy signal following the tokens most recent ascent out of a falling wedge. The SuperTrend indicator just flashed a buy signal on the #Notcoin daily chart as $NOT breaks out of a falling wedge! Increased buying pressure could potentially push #NOT toward $0.012 to $0.014. pic.twitter.com/fJfWMDXCvV Ali (@ali_charts) September 27, 2024 Generally,  the SuperTrend is a simple technical indicator used to predict the potential direction of an assets price. A buy signal occurs when the price moves above the SuperTrendine suggesting the asset would likely maintain its upward trajectory.  According to Martinez, if investors are influenced by the SuperTrend indicator, thus increasing capital influx into Notcoin market, the token could likely surge trade as high as $0.012 – $0.014 representing a potential 41.41% gain on its present market value. In the presence of an overwhelming bullish pressure, NOT could rise to around $0.020 reaching price levels last seen in early August. Alternatively, if a price fall were to occur perhaps due to news events or macroeconomic factors, the telegram-based asset will likely find support around $0.0069.   Related Reading: Notcoin (NOT) Ignites Crypto Market, Analyst Predicts 25% Rally NOT Price Overview  Notcoin emerged as a play-to-earn token on the messaging platform Telegram, allowing people to earn by tapping a virtual coin and participating in game tasks.  Following its official launch in May,  Notcoin drew much attention, rising by over 380% to hit an all-time price of $0.029. However, the tokens value gradually declined in the following weeks and has since failed to return to such heights.  Nevertheless, NOT has quickly grown into a major digital asset, earning a spot in the top 100 cryptocurrencies with a market cap of $1 billion. At the time of writing, Notcoins price hovers around $0.0098 following a correction from the peak price of $0.0105 on Friday. The cryptocurrency boasts significant gains of 31.66% and 8.08% in the past seven and thirty days respectively.  Meanwhile, NOTs trading volume is up by a stunning 145.17% and valued at $374.18 million.   Featured image from Techopedia, chart from Tradingview

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Maker Price Heats Up, Soars 12% In A Week Is $1,850 The Next Stop?

The cryptocurrency market has been on a red-hot streak in the past week, with most large-cap assets posting significant gains. The Maker (MKR) token is another one of the assets enjoying a positive week, with the DeFi (decentralized finance) coin recording a 12% price increase in the last seven days. Analyst Forecasts $1,850 Target For Maker Price In a recent post on the X platform, prominent crypto analyst Ali Martinez has put forward an exciting outlook for the price of Maker over the next few weeks. According to the crypto pundit, the token appears to be gearing up for a bullish breakout soon. Related Reading: Render (RENDER) Shows 23% Surge As Sharks & Whales Continue To Buy The rationale behind this bullish projection is the chart formation of an inverse head-and-shoulders pattern on the four-hour timeframe. For context, the inverse head-and-shoulders pattern is a technical analysis formation characterized by three distinct troughs; a lower head between two higher shoulders. This chart often indicates a potential bullish reversal, where there is a shift from a downward trend to an uptrend. This trend reversal is confirmed when the price breaks above the neckline, which is a trendline connecting the peaks from the head-and-shoulders pattern. As shown in the highlighted chart, the Maker price has only just successfully broken above the neckline and appears to be retesting the trendline. Martinez noted that this breakout seems like a precursor to a 12% rally that would see the DeFi coin reclaim the $1,850 level. In a separate post on X, Martinez shared another bullish analysis for the price of MKR. This latest projection is based on the Tom Demark (TD) Sequential indicator, which is used in technical analysis to identify potential points of trend exhaustion and price reversal.  According to Martinez, the TD Sequential has flashed four buy signals on the Maker three-day chart. This observation combined with the bullish breakout from the head-and-shoulders neckline suggests that a huge rally might be on the horizon.  One of the leading tokens in the #RWA sector, #Maker $MKR, is gearing up for a bullish breakout! The TD Sequential indicator has flashed four buy signals on the 3-day chart, suggesting it’s time to accumulate #MKR before it moons! pic.twitter.com/wfyayhB5rX Ali (@ali_charts) September 27, 2024 Martinez hinted that this might be a critical period for accumulating the Maker token before its value skyrockets. Moreover, the cryptocurrency market, specifically the altcoin sector, appears to be veering towards an optimistic climate in the past few weeks. MKR Price At A Glance As of this writing, the price of Maker stands at around $1,691, reflecting a 5% increase in the past day.  Related Reading: DogWifHat Whale Doubling Down, Buys More WIF: All-Time High Incoming? Featured image from iStock, chart from TradingView

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Solana (SOL) Failure To Break $154 Could Lead To $85 Correction Analyst

Prominent altcoin Solana was one of the major headliners recently, notching an 8.22% gain in the last seven days, according to data from CoinMarketCap. This positive performance saw Solana climb as high as $150, a price mark last seen in late August. The sentiments around the fifth-largest cryptocurrency are largely bullish, however crypto analyst Ali Martinez has released certain cautionary notes for investors. Related Reading: Solana Liquid Staking Could Touch $18 Billion Will It Benefit These Altcoins? Solanas Price Breakout Crucial To Avoid Slip To $85 In an X post on Sunday, Ali Martinez noted that Solana is currently headed for major price resistance at the $154 price zone. The analyst warns the altcoin must not suffer a rejection at this price level to avoid a major price crash.  In the crypto market, price rejections at certain price marks occur for various reasons including historical evidence of resistance at said price level. According to Solanas daily chart, the $154 price zone presents a strong resistance level stretching as far back as May. If a rejection occurs at this level, Solana could likely fall to around $128 in a best-case scenario. However, the presence of massive selling pressure could drive the altcoins price as low as $85, indicating a potential 44.1% decline from Solanas current price. Alternatively, If Solana breaks past $154, it could attain a market price of $190, at which lies its next major resistance. Such price gain would represent a 23.37% increase in the assets present market valuation.  At the time of writing, Solana continues to trade at $147.37 with a 1.24% gain on the last day, amid a 58.13% decline in trading volume activity. Also, the altcoin remains one of the market’s most resilient assets with 7.65% and 2.27% in the past seven and thirty days respectively despite long periods of market downturn. As the final quarter of 2024 approaches, Solana remains one of the favorite coins for profitability based on historical price data. This bullish stance is further strengthened by a robust meme market valued at $6.56 billion and continuous network development.   Solana To Soon Host cbBTC – Coinbase In other news, American crypto exchange Coinbase has unveiled a plan to integrate its newly launched wrapped Bitcoin asset- cbBTC – with the Solana network. This development was revealed by Coinbase executive Hassan Ahmed while speaking at the Breakpoint conference who cited interest in the Solana network from the exchange customers. Coinbase launched cbBTC on September 12 as a new digital product pegged 1:1 ratio with Bitcoin held in the exchange reserves. The wrapped Bitcoin asset was initially launched on the Ethereum and Base network with availability to customers in the United Kingdom, Australia, Singapore, and the United States barring New York.  Featured image from ProRealCode, chart from Tradingview

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Bitcoin Whales Take Profit After Latest Price Jump Heres How Much They Sold

The latest on-chain data shows that a particular class of Bitcoin investors has been selling for profit in the wake of the recent price rally. The question here is how much did they sell and how much impact could it have on the Bitcoin price trajectory? Bitcoin Whales Dump 30,000 BTC In Four Days Impact On Price? In a new post on the X platform, prominent crypto pundit Ali Martinez revealed that Bitcoin whales have been increasingly active in the market in the days following BTC’s return to above $63,000. This on-chain observation is based on the drop in the total holdings of whales with balances between 1,000 and 10,000 BTC. Related Reading: Crypto Whales Buy $228 Million In XRP Following $5 Price Prediction According to data from Santiment, this cohort of Bitcoin whales has offloaded more than 30,000 BTC (worth around $1.86 billion) in the past 96 hours. Interestingly, this level of whale activity came after the premier cryptocurrency witnessed a price upswing triggered by the interest rate cut by the US Federal Reserve. Whales which typically refer to individuals or entities holding significant amounts of a particular cryptocurrency are perceived to hold considerable influence over the market due to the size of their holdings. Hence, their buying or selling activities can precipitate abrupt price swings in the short term. The Bitcoin market has been under a considerable amount of bearish pressure so far in September, falling to as low as $53,000 at some point. The Fed rate cut seemed like the perfect catalyst to turn things around and spark a fresh bullish momentum. However, profit-taking observed amongst the large investors could stall this recovery. When whales sell off their assets, it often causes other investors to tread the market with caution, as they wonder what the large holders know. This can lead to heightened selling pressure or a momentary price pullback.  BTC Price At A Glance  Nevertheless, it is worth mentioning that the Bitcoin price has made significant movement in the past few days. As of this writing, the flagship cryptocurrency is valued at $63,131, reflecting a mere 0.1% decline in the past day. According to data from CoinGecko, the value of BTC has increased by more than 5% in the past week. The market leader seems to be performing even better on broader timeframes. Related Reading: Over 150,000 ETH Moved To Exchanges In The Last 24 Hours: Whats Next For Ethereum? For instance, the Bitcoin price performance this month has been nothing short of surprising, as September is historically a bearish period for the premier cryptocurrency. BTC is up by more than 6.8% this month, its highest-ever average return in September. Featured image created with Dall.E, chart from TradingView

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On-Chain Data Suggests Bitcoin Price Trend Reversal Is Yet To Occur Whats Happening?

The price of Bitcoin (BTC) ended the week on a good note after making a late rally on Friday, September 13. This recent price upswing has led to talks about the Bitcoin price making a comeback following a horrendous start to September. Interestingly, the latest on-chain data suggests that the ongoing price recovery might not [...]

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112,000 ETH Moved To Crypto Exchanges In The Past Day Impact On Ethereum Price?

The Ethereum price has been one of the major talking points in the crypto space lately, having been under significant bearish pressure in recent weeks. However, the second-largest cryptocurrency seems to be on a recovery path following its first positive weekly performance in more than a month. Recent on-chain data shows that significant amounts of ETH tokens have made their way to centralized exchanges in the past day. The question now is could this hamper the recent progress shown by the Ethereum price? Heres How Rising Exchange Inflow Affects Ethereum Price Prominent crypto pundit Ali Martinez took to the X platform to reveal that Ethereum investors have been moving their assets to centralized exchanges in the past 24 hours. This on-chain observation is based on the CryptoQuant exchange reserve metric, which monitors the total amount of a particular cryptocurrency on all exchanges. Related Reading: Is Bitcoin Heading For A Bear Market? Analysts Weigh In On The Price Struggles Typically, the value of this metric increases when investors make more deposits than withdrawals of a token (Ether, in this case) into a centralized exchange. On the flip side, when the exchange reserve metric falls, it implies that the holders are moving their assets out of crypto exchanges. When investors move their assets from self-custodial wallets to centralized exchanges, it is often because they intend to use the platforms services, which include selling. As a result, an increase in the exchange reserve metric is often associated with increasing selling pressure.  According to data from CryptoQuant, more than 112,000 ETH (worth around $257.6 million) were transferred to cryptocurrency exchanges in the last 24 hours. The movement of these significant Ether amounts could trigger downward pressure on the Ethereum price. Considering its delicate position at the moment, bearish circumstances, such as rising exchange inflows, could hinder the Ethereum prices newly found momentum. Nonetheless, it is worth noting there has not been such an effect on ETHs price in the past day. On the contrary, the altcoin is up by more than 3% while looking to breach the $2,500 level. Are Investors Fleeing The Market? The latest on-chain data shows that investors might be flooding out of the Bitcoin and Ethereum markets. According to Ali Martinez, over $2.6 billion has flowed out of the two largest cryptocurrencies in the last seven days. Related Reading: Cardano (ADA) Whales Securing Gains After 10% Upswing: Whats Next? This revelation is based on Glassnodes aggregate market realized value net position change metric. And it somewhat supports the earlier notion that investors might be offloading their Ether tokens. Moreover, this outflow of capital could spell more trouble for the crypto market, specifically the Bitcoin and Ethereum prices. Featured image created with Dall-E, chart from TradingView

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Bitcoin Price Under Pressure? Analyst Explains Why Retreat Below $66,000 Is Bad News

A crypto analyst has pinpointed the $66,000 mark as a crucial level for the Bitcoin price and its trajectory over the coming weeks.  Bitcoin Price Needs To Climb Above $66,000 Heres Why Popular crypto pundit Ali Martinez took to the X platform to share an interesting on-chain observation for the price of Bitcoin. This [...]

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Bitcoin Triple Threat: Analyst Identifies Three Signals For BTC Price Rebound

A popular crypto analyst on the X platform has sounded the buy alarm for Bitcoin after the premier cryptocurrency fell to the $60,000 level this weekend. Can Bitcoin Price Make A Return To $67,000? In a recent post on X, popular crypto pundit Ali Martinez shared an exciting analysis of the price of BTC over the coming days. According to the crypto analyst, the latest price action shows that the flagship cryptocurrency could be gearing for a rebound to its former highs. Related Reading: Could Bitcoin Outshine Gold? Trading Guru Weighs In On The Historic Financial Duel The reasoning behind this bullish projection is the formation of multiple buy signals by the TD (Tom Demark) Sequential on the Bitcoin four-hour chart. The TD Sequential is a technical analysis indicator used to identify possible points of trend exhaustion and price reversal. The TD Sequential consists of two phases; namely setup and countdown. For the setup, nine candlesticks of the same polarity (bullish or bearish) are counted, upon which a reversal is expected to occur. Typically, the direction of the reversal will depend on the candles involved in the setup I.e., nine bearish candles would represent a buy signal and vice versa. Upon the completion of the setup, the countdown phase commences, which involves 13 candles rather than nine of the same polarity. A completion of the second phase implies that there is likely another reversal point.  According to Martinez, the TD Sequential has pinpointed a potential reversal for the Bitcoin price. On the four-hour chart, the indicator presents an aggressive 13, a sequential 13, and a red 9 candlestick. The aggressive 13, sequential 13, and red 9 all suggest that the current downward trend might be losing momentum, thereby hinting at a possible trend reversal in the short term. Ultimately, these signals are indicating a strong buy opportunity for premier cryptocurrency, having shed some of its value in recent days. However, if the prediction of a price rebound fails to hold and the $60,000 support crumbles, investors could see the price of Bitcoin fall as low as $57,000.  BTC Price At A Glance As of this writing, the price of Bitcoin continues to hover around $61,000, recording barely any movement in the last 24 hours. According to data from CoinGecko, the premier cryptocurrency has declined in value by more than 10% in the past week. Related Reading: Solana Rebound: SOL To Hit $260 Despite Continuous Dip, Analyst Says Featured image from iStock, chart from TradingView

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Bitcoin Price Surges Above $64,000 Heres The Resistance Level To Watch

The Bitcoin price performance has been uninspiring in the past week, mirroring the broader cryptocurrency market climate. However, the premier cryptocurrency seems to be ending the week on a high note following an unexpected Friday rally. The price of BTC appears to have received a breath of fresh air following Federal Reserve Chairman Jerome Powell’s Jackson Hole speech, finding its way above the $64,000 mark again with an almost 7% surge. The question now is how far can the Bitcoin price climb? Heres Why $66,250 Is A Crucial Level For BTC Prominent crypto analyst Ali Martinez took to the X platform to share an interesting prognosis for the Bitcoin price over the next few days. The relevant indicator here is the Glassnode UTXO Realized Price Distribution (URPD) metric, which monitors the amount of a particular cryptocurrency that was purchased at a given price level. Related Reading: Is A Bitcoin (BTC) Negative Correlation With Stocks A Bullish Signal? Analyst Reveals Typically, the likelihood for a price level to act as an on-chain support or resistance zone depends on the number of coins that have their cost basis at the specific level. For context, the cost basis of an investor refers to the original price (including the transaction fees) at which they acquired a coin or token. Price levels beneath the current spot value with substantial buying activity will likely act as support zones. On the other hand, levels above the current price could prove to be significant resistance areas. The chart below depicts the distribution of Bitcoin at different price levels surrounding the recent spot price of the coin.  Based on data from the highlighted chart, $64,045 and $66,250 seem to be the next crucial resistance levels to watch. While it appears that the Bitcoin price has flipped the $64,045 resistance wall, the $66,250 zone remains to be breached. According to data from Glassnode, nearly 382,000 coins were moved within the $66,250 price area. The last time BTC climbed above the $66,250 level, it traveled as high as the $70,000 mark before it encountered some resistance. It would be interesting to see how far the price of the premier cryptocurrency would go this time, especially considering that there is no major resistance wall above the $66,250 area based on the URPD indicator. Bitcoin Price At A Glance As of this writing, the price of Bitcoin is around the $64,000 mark, reflecting an almost 7% increase in the past 24 hours. This single-day performance has also shown on the weekly timeframe, with the flagship cryptocurrency climbing by nearly 10% in the past week. Related Reading: Crypto Analyst Predicts 42,263% Breakout For XRP Price To $280, Heres The Roadmap Featured image from iStock, chart from TradingView

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Mega Whales Shake Ethereum: Price Dips Ahead?

Some of the largest Ethereum whales, holding over 10,000 ETH, have been on a coveted accumulation spree over the past month, with no signs of easing up. Data from Glassnode shows the number of Ethereum mega-whale addresses [those with a balance of over 10,000 ETH] and the 30-day change in that number. The chart also […]

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Analysts Predict Bitcoin Price Recovery Following Sell-Off Fears

Bitcoin analysts observe key support levels and potential rebound despite bearish sentiment. Amid the recent turmoil caused by selling activities,…

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Analyst Hints Bitcoin Price Recovery Might Be Underway Heres Why

Crypto analyst Ali Martinez has offered an exciting bullish projection for the Bitcoin price. This analysis is even more interesting for the premier cryptocurrency after it fell to a multi-month low over the past week. Is A Return To $60,000 On The Cards For BTC Price? In a new post on the X platform, Martinez shared an interesting analysis of the Bitcoin price, explaining that the coin might be primed for a run to the upside. This is based on two bullish candlestick formations on the three-day chart. Firstly, the pundit noted that the price of BTC is forming a doji candle pattern on the three-day timeframe. As shown below, the specific candlestick pattern developing on the Bitcoin chart is the Dragonfly doji, which looks like a cross or plus sign but with its horizontal line close to the top. Related Reading: Finance CEO Raoul Pal Says Crypto Will Reach $100 Trillion Market Cap Heres When Typically, the dragonfly doji candlestick pattern is an indicator of a potential reversal depending on the price action. Considering that the market has been in a correction in recent days, a reversal would mean a movement of the Bitcoin price to the upside. It is worth noting that the dragonfly doji is not the most reliable signal of an imminent price reversal, as the indicator can be a sign of indecision amongst investors. However, Martinez pointed to another bullish formation that might also be indicating a potential trend reversal. The second bullish formation is based on the Tom Demark (TD) Sequential, which is used in technical analysis to spot potential points of trend exhaustion and price reversal. Martinez said that the indicator has flashed a buy signal on the three-day Bitcoin price chart. Typically, the TD Sequential is made up of two major phases, namely the setup and the countdown. The price of Bitcoin just completed the setup phase, which is made up of nine consecutive candles that closed lower than the candle four periods ago. The potential reversal point appears when the TD Sequential forms the number 9 on top of a candle in a bullish or bearish trend. As shown in the image highlighted by Martinez, the number 9 is on the doji candle suggesting a possible reversal. The question that will be on the minds of most investors is whether the premier cryptocurrency will return to $60,000. While the recent chart formations are suggesting an upward rally, it is difficult to pinpoint the magnitude of the potential bullish run. Bitcoin Price At A Glance As of this writing, the price of Bitcoin is on the verge of $58,000, reflecting a 2.7% gain in the last 24 hours. However, the market leader is still down by more than 5% in the past week. Featured image from iStock, chart from TradingView

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Bitcoin Miner Capitulation Comes To An End Time To Buy BTC?

Indeed, the Bitcoin price has been on a hot streak in recent weeks, returning to its past heights most investors have become accustomed to. However, the past week was a somewhat quiet one for the premier cryptocurrency, as it was for most of the digital asset market. Interestingly, the latest on-chain insights suggest that the crypto market, specifically the Bitcoin market, might not be inactive for too long.  BTC Price Momentum Shifts To Positive – Impact On Price? In a recent post on the X platform, popular crypto pundit Ali Martinez revealed that Bitcoin miner capitulation has seemingly come to an end. This on-chain observation is based on a shift in the Glassnode Hash Ribbon indicator, which measures BTCs hash rate. Related Reading: Analyst Predicts Solana Rise To $1,400 As Similarities With July 2021 Emerge Typically, the Hash Ribbon features two moving averages; including the short-term (30-day) and long-term (60-day) hash rate. A cross of the short-term moving average below the long-term moving average implies miner capitulation, which is characterized by widespread sell-offs by miners. On the other hand, when the 60-day ribbon falls under the 30-day ribbon, it indicates the end of capitulation and the potential start of a recovery phase for the network. As shown in the chart below, this positive cross appears to be the current situation for Bitcoin, signaling an optimistic future for the flagship cryptocurrency. Ultimately, this means that Bitcoin miners are returning to the network and restarting operations, as they become more profitable. From a historical standpoint, the end of miner capitulation is a bullish sign, as it often precedes significant price leaps for the premier cryptocurrency. Martinez highlighted this in his post on X, saying this could present good buying opportunities. Another indicator that supports this on-chain revelation is the Bitcoin Miner Profit/Loss Sustainability metric, which measures how fair miner revenues are. According to the latest data from CryptoQuant, the BTC miners have been making some profit over the past few days, putting them in the fairly paid region of the indicator. Bitcoin Price At A Glance As of this writing, the price of Bitcoin stands at around $68,230, reflecting a mere 0.7% increase in the last 24 hours. As earlier inferred, the premier cryptocurrency had an uneventful week in terms of price action, dancing between the $64,000 and $68,000 range. Related Reading: Crypto Backs Donald Trump: $4 Million War Chest In Bitcoin, XRP For Re-election According to data from CoinGecko, the BTC price increased by barely 1% in the past week. Nevertheless, the cryptocurrency retained its position as the largest digital asset in the sector, with a market capitalization of more than $1.33 trillion. Featured image from iStock, chart from TradingView

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Analyst Says Chainlink Price Could Climb To $19 Heres How

In recent months, the Chainlink price hasn’t quite been able to replicate the bullish strength it showed at the start of the year. And the past week was a prime example of the coins recent struggles, as the bulls failed to completely stamp control over the last seven-day period. However, it appears that the LINK price inconsistencies might be coming to an end soon, as a popular crypto analyst has identified a bullish pattern on the tokens price chart. How LINK Price Could Soar 48% To Reach $19 Prominent crypto analyst Ali Martinez has shared via a post on X an exciting prognosis on the future trajectory of the Chainlink price. According to the crypto pundit, the cryptocurrency, which has largely struggled, could be set for a price turnaround over the next few weeks. Related Reading: Analyst Says XRP Remains Strongest Compared To Bitcoin And Ethereum, Heres Why The rationale behind this bullish projection is the formation of an inverse head and shoulders pattern on the LINK four-hour price chart. The inverse head and shoulders formation is a technical analysis indicator that features a head (a lower low) in between two shoulders (usually a lower low and a higher low). This chart formation whether in the normal or inverse form is a significant indicator for identifying trend reversals. Specifically, the inverse head and shoulder pattern suggests a shift from a bearish to a bullish trend when the price breaks the neckline, an imaginary line that runs through the peaks of the troughs. Martinez noted in his post on X that the price of Chainlink could make a run towards the $19 mark over the next coming days. However, the cryptocurrency must break above the neckline around the $15 level, as shown in the chart above. A rally to the $19 mark would represent an almost 50% price leap from the current price. And a return to this price level would be most welcomed by the altcoin’s investors, having spent the last two months beneath it. Chainlink Price At A Glance As of this writing, the Chainlink price has jumped slightly above $13.5, reflecting a 3.6% increase in the last 24 hours. However, this price gain is not significant enough to wipe the tokens loss over the past seven days. Related Reading: Toncoin Under Pressure As TON Price Falls Below 100-Day SMA, $6 Looms According to data from CoinGecko, the LINK token experienced a 3% decline in value in the past week. Nevertheless, the cryptocurrency still ranks among the top 20 largest assets in the sector, with a market cap of more than $8.2 billion. Featured image from Unsplash, chart from TradingView

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BRETT Price Explodes 30% In A Single Week Whats Next For The Meme Coin?

The crypto market has enjoyed a good run in the last few days, with several large-cap assets posting double-digit gains in the past week. Meanwhile, meme coins like Dogecoin, dogwifhat, Pepe, and Brett, were also among the best-performing assets in the market. Specifically, BRETT witnessed an over 30% increase in its value over the past week. Interestingly, a popular crypto pundit has suggested this recent momentum is only the tip of the iceberg, as the meme tokens price seems set to take off. Analyst Predicts Meme Coin’s Price Will Skyrocket By 300% In a recent post on the X platform, prominent crypto analyst Ali Martinez put forward an exciting projection for the price of BRETT over the coming weeks. According to the pundit, recent price action suggests that the meme coin is gearing for an explosive 300% move to the upside. Related Reading: Crypto Market Rebounds From Lows, But Why Are Cardano Holders Suffering Losses? The rationale behind this bullish projection is the formation of a bull flag on BRETTs daily price chart. A bullish flag formation is a technical analysis and a strong continuation pattern that resembles a flag on a pole.  The pole usually represents a vertical rise while the flag represents a period of price consolidation. The important feature of this chart formation is the breakout from the flag, which typically mirrors the length of the initial pole of the flag.  As shown in the chart above, the BRETT price seems to be on the verge of a breakout, having been in a consolidation range since early June. This consolidation zone or flag was preceded by a vertical upward movement, which saw the tokens price jump from $0.03 to $0.2. Martinez noted in his post that if the meme coins price breaks out of the flag, the $0.15 support level needs to hold strong upon retest. If the support fails to hold, the Brett might just return within the consolidation range. In the case of a successful breakout, the analyst predicted the BRETT price to climb as high as $0.63. BRETT Price Overview As inferred earlier, a price upswing to $0.63 would represent an over 300% rally from the current price point. As of this writing, the price of Brett stands around $0.147, reflecting a nearly 6% increase in the last 24 hours. Related Reading: Is $200 Within Reach For Solana Price? Heres Why This Blockchain Firm Thinks So According to data from CoinGecko, the meme token is up by nearly 30% in the past week. With a market capitalization of over $1.45 billion, BRETT ranks amongst the top 10 largest meme coins in the digital asset sector. Featured image from iStock, chart from TradingView

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Stalled USDT Liquidity Threatens Bitcoin Price Further Growth Heres Why

The price of Bitcoin has maintained a recovery trajectory over the last week, gaining by a significant 16.25% to move briefly above the $67,000 price mark. Bitcoin investors are likely hopeful the asset will record more price gains and finally embark on a bull run following the halving event in April. However, Bitcoins price future gains are theorized to be tied to multiple factors including the liquidity of the stablecoin market. Why A Stagant USDT Liquidity Is Harmful To Bitcoin? In an X post on Friday, prominent on-chain analytics platform CryptoQuant emphasized the importance of stablecoin liquidity to an appreciation in Bitcoins price. CryptoQuant stated that for premier cryptocurrency to experience further price increases, there is a need for an equal rise in the stablecoin market shares. Related Reading: Coinbase Analysts Warn: Bitcoins Upward Trend Could Hit a Wall Heres Why   For context, stablecoins refer to a type of cryptocurrency with a fixed value that is usually pegged to a reserve asset, usually the US dollar. These assets are combined valued at $163.56 billion and are critical to digital asset adoption for users with a fear of market volatility.  In relation to Bitcoins price, CryptoQuant specifically references Tether (USDT), the largest stablecoin and third largest cryptocurrency with a market cap value of $113.78 billion, as a major influencing factor.  The analytics team explains that USDTs growth in the last month has been near 0% (1.03%), thus suggesting a slight 3.21% increase in Bitcoin’s price over the same period. In contrast, USDTs market shares grew by 6.6% in March 2024, the same time in which Bitcoin rose from $61,168 to secure a new all-time high at $73,750. The relationship between both assets could stem from the prominent use of USDT in crypto trading. Thus, a higher level of USDT liquidity could allow traders to increase demand for risky assets, including Bitcoin. According to CryptoQuant, the Bitcoin market, therefore, requires a rapid rise in stablecoin liquidity to maintain its current positive price performance. Related Reading: Bitcoin Bollinger Bands Squeezing: Is BTC Ready For $140,000? Analyst Highlights Dangerous BTC Price Level In other news, amidst Bitcoins current price rally, popular crypto analyst Ali Martinez has warned that Bitcoin must maintain its price above the $66,385 level to avoid a massive liquidation of about $42.67 million.  At the time of writing, Bitcoin continues to trade at $66,571 with a notable 4.65% gain in the last day. In a similar fashion, the assets daily trading volume is up by 38.08% and valued at $37.2 billion. Featured image from Big Stock Photo, chart from Tradingview.com

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Market Veteran Sees This Altcoin Surging 300% Amid Bull Flag Pattern

Veteran analyst Ali Martinez identifies a bull flag setup in the BRETT/USDT pair, predicting a potential surge of 300% that…

The post Market Veteran Sees This Altcoin Surging 300% Amid Bull Flag Pattern first appeared on The Crypto Basic.

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Bitcoin Price To Return Above $63,000? Heres What Needs To Happen

The Bitcoin price has shown good signs of recovery over the past seven days, returning above $58,000 to end the week. Interestingly, a prominent crypto analyst on X has identified a chart formation signaling a potential continuation of this resurgence by the premier cryptocurrency. Bitcoin Price Prints This Chart Pattern What Next? In a new post on the X platform, popular crypto analyst Ali Martinez shared an exciting analysis for the Bitcoin price over the next few days. According to the crypto pundit, the flagship cryptocurrency seems to be at a critical point for a bullish breakout that could see its price reclaim former highs. The rationale behind Martinezs projection is the formation of an ascending triangle pattern on the Bitcoin four-hour price chart. An ascending triangle refers to a technical analysis pattern that features a horizontal line drawn along swing highs and a rising trendline drawn along swing lows. Related Reading: Why Did The Cardano Price Surge 17% Amid The Crypto Market Crash? Typically, ascending triangles are referred to as continuation patterns, as price often breaks out of the triangle in the prevalent trend direction (uptrend or downtrend) in the triangle formation. However, this is not always the case with the chart pattern.  Martinez highlighted that if the Bitcoin price successfully breaks above the triangles horizontal line, which is set around the $59,200 resistance level, it could continue its recovery journey. According to the analyst, the premier cryptocurrency could rally as high as the $63,800 mark. As of this writing, the price of Bitcoin stands at $59,431, breaking above the $59,200 following the failed assassination attempt on United States former President and vocal Bitcoin supporter Donald Trump. A sustained break above this level would make the $63,800 price projection more likely than ever. BTC Weighted Sentiment Falls To Lowest Level Since 2020 In another post on X, Martinez revealed that Bitcoins weighted sentiment witnessed a plunge following the coins recent decline to $53,300. According to data from Santiment, the weighted sentiment fell to -2 on July 5, its lowest level since the COVID-19 crash in March 2020.  A negative sentiment is not exactly a good sign for the Bitcoin price, as it could be a signal of further downside for the coin. Although the Bitcoin weighted sentiment hit a multi-year low a little over a week ago, it is currently moving towards the positive side. Related Reading: 180% Upside For Fetch.ai (FET)? Analyst Makes Bold Prediction Amid Market Jitters However, the metric is still negative at around -0.47 based on Martinezs post on Saturday, July 13. This could imply further downside for the price of flagship cryptocurrency. Featured image from iStock, chart from TradingView

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14,000 BTC Transferred To Exchanges In Four Days Worrying Trend For Bitcoin Price?

Recent on-chain data shows that substantial amounts of Bitcoin have made their way to centralized exchanges in the last few days. How could this impact the Bitcoin price? Bitcoin Price To Face Further Selling Pressure? In a new post on the X platform, prominent crypto analyst Ali Martinez revealed that Bitcoin investors have been transferring their assets to centralized exchanges in recent days. The relevant indicator here is CryptoQuants Exchange Reserve metric, which tracks the total amount of a particular cryptocurrency held on all exchanges. Related Reading: Shiba Inu Army On The Move: 35 Billion SHIB Invade Shibarium It is worth noting that the value of this metric rises when investors are making more deposits than withdrawals of a cryptocurrency (Bitcoin, in this scenario) into centralized exchanges. Meanwhile, when the metrics value falls, it means that holders are transferring their assets out of the trading platforms. According to CryotoQuant data, more than 14,000 BTC (valued at approximately $851.2 million) have been sent to crypto exchanges in the last four days. As shown in the chart below, the exchange reserve metric is at its highest level in nearly a month. Typically, an increase in the exchange reserve indicates high selling pressure, as investors often use centralized exchanges to sell assets. Consequently, the movement of huge amounts to trading platforms could exacerbate the downward pressure on the Bitcoin price. Furthermore, the exodus of significant amounts to centralized exchanges could trigger price volatility for the premier cryptocurrency. This would imply an increased likelihood of big price movements in the future.  However, there has not been any impact on the Bitcoin price in the past day. As of this writing, the price of the premier cryptocurrency stands at around $60,700, reflecting a bare 0.3% increase in the last 24 hours.  Price Rebound Imminent For BTC: Santiment Fortunately, it is not all gloom for the Bitcoin price at the moment. Prominent on-chain analytics platform Santiment has offered a positive outlook for the price of the market leader. According to the blockchain firm, Bitcoins recovery following dips in the past two weeks has been short-lived. Santiment believes that a price rebound is imminent for the premier cryptocurrency. The rationale behind this analysis is based on two factors; the recent negative sentiment from the crowd and the low relative strength index (RSI). Santiment said in its post: But note the continued negative sentiment pouring in from the crowd, indicating their patience is wearing thin. This, along with a low RSI of just 36, are strong indications a bounce is close. Related Reading: BlackRock Global Allocation Fund Reveals Major Bitcoin ETF Stake With 43,000 Shares Featured image from iStock, chart from TradingView

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