Bitcoin price technicals target $87K by 2025, with one key resistance level in the way

Bitcoins price breakout could be delayed until October unless it manages to overcome the key $59,600 resistance.

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Bitcoin Breaks $64,000, But This Pattern Could Mean Bull Run Isnt Safe

On-chain data shows the Bitcoin Supply in Profit indicator has been forming a pattern recently that could put the bull run into jeopardy. Bitcoin Supply In Profit Has Seen Multiple Dips Into “Transition” Zone Recently As an analyst in a CryptoQuant Quicktake post explained, the recent “Supply in Profit” trend could suggest a potential entry into [...]

The post Bitcoin Breaks $64,000, But This Pattern Could Mean Bull Run Isnt Safe appeared first on Crypto Breaking News.

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Key Bitcoin bull signal flashes for first time in nearly 2 years, hinting at 2x price surge

The Bitcoin price could increase by over two-fold based on a key bull signal historically correlated with price rallies.

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63 US banks on the brink of insolvency: Why Bitcoins next target is $100K

Bitcoin price may be closer to the big milestone $100,000 mark than many realize, as a looming banking crisis could see BTC become the new safe haven asset.

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4 reasons why Bitcoin was (and still is) a buy below $70K

Technical chart patterns suggest that Bitcoin could see more upside momentum in the following weeks, mirroring previous bull cycles.

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Bitcoin bottomed at $56K? BTC price chart hints at breakout within days

Adding to the bullish technical formation, Bitcoin's distribution 'danger zone' has officially ended, according to popular analyst Rekt Capital.

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Bitcoin (BTC) Jumps To $82,000 As Trump Announces 90-Day Pause On Tariffs Except China

Crypto and stock prices have surged in the past hour after US President Donald Trump announced a 90-day pause for tariffs on multiple nations, except China. Bitcoin (BTC), the flagship crypto, now eyes the $83,000 barrier after jumping 6.1% following the news. Related Reading: Bitcoins Next Big Move? Open Interest Says Get Ready Trump Authorizes 90-Day Pause On Tariffs In a Truth Social post, President Trump announced he was raising China tariffs to 125% effect immediately due to a lack of respect shown to the Worlds markets. This move follows Chinas recently announced reciprocal 84% tariff rate on US goods, starting April 10. Based on the lack of respect that China has shown to the Worlds Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately. At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable, Trump explained. In the Wednesday post, the US President also revealed he had authorized a 90 days PAUSE for other countries, as 75 nations reached out to multiple US Representatives, including the Departments of Commerce, Treasury, and the US Trade Representative, to negotiate a solution to the subjects being discussed relative to Trade, Trade Barriers, Tariffs, Currency Manipulation, and Non-Monetary Tariffs. Additionally, he authorized an immediate substantially lowered Reciprocal Tariff of 10% during the 90-day pause. In a second post, the President stated, This is a great time to buy. Following the news, stock prices surged, with the S&P 500 (SPX) surging around 6% since the announcement. Meanwhile, the crypto market saw its total market capitalization jump around 5%, with assets like Bitcoin, Ethereum (ETH), XRP, and Solana (SOL) increasing 6%-12% in an hour. Bitcoin Price Surges To $82,000 The flagship crypto climbed from the $76,000-$77,000 range to the $82,000, momentarily reclaiming this level for the first time since Sunday. Its 6% surge has sparked optimism among investors, who saw Bitcoin fall to a five-month low over the weekend. BTC dropped nearly 10% between Sunday and Monday, fueled by the ongoing tariff war. Amid the correction, Bitcoin hit the $74,000 support zone for the first time since November. Related Reading: Solana (SOL) Needs 15% Bounce After Multi-Year Support Retest, Recovery Ahead? On Monday, BTC also saw a brief recovery of the $80,000 barrier after major media outlets reported the White House was considering a 90-day pause on tariffs. However, the cryptocurrency erased most gains after the news turned fake. According to online reports, todays surge triggered $75,000,000 worth of Bitcoin shorts being liquidated in the past 60 minutes. As of this writing, Bitcoin trades at $82,444, a 4.1% decline in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

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Are The Odds In Bitcoin Bulls Favor? These Analysts Forecast BTCs Future

As the Bitcoin (BTC) “Halving” approaches, expectations increase about how the flagship cryptocurrency will perform. Bitcoin (BTC) is recovering momentum after facing a significant correction in the first few days of Q2, and some analysts are forecasting new heights for the number one cryptocurrency soon. Related Reading: Beyond Halving: Expert Predicts Bitcoin To Soar Above $200,000 With Surprising Catalyst Are The Odds In The Bulls Or Bears Favor? Bitcoin had its best quarterly close during Q1, 2024. Despite BTCs stellar performance, as Q2 started, the market was dragged by the leading cryptocurrencys price correction. Since then, Bitcoin has been steadily recovering, testing the $70,000 resistance level over the weekend. As the week started, BTC appeared to have regained support above the $70,000 level. Crypto analyst Ali Martinez seems to think that Bitcoins performance so far reflects a positive sentiment from investors. In an X post, Martinez shared a chart that paints an optimistic picture, at least for now. When you compare support (1.4 million addresses holding 893,000 $BTC between $68,220 and $70,325) with resistance (474,000 addresses holding 285,000 #BTC between $70,760 and $71,200), the odds appear to favor the #Bitcoin bulls! pic.twitter.com/pceCyGa8mb — Ali (@ali_charts) April 9, 2024 According to Martinezs post, the In/Out of the Money Around Price (IOMAP) indicator seems favorable to the bulls. Per the chart, the addresses holding BTC at the support level massively outnumber those holding Bitcoin at the resistance level. The chart suggests that Bitcoin is at stable support as 474,000 addresses hold 285,000 BTC between $70,760 and $71,200. Meanwhile, 1.4 million addresses hold the flagship cryptocurrency between $68,220 and $70,325. When compared, the addresses and BTC held at the support level nearly triple those in the resistance zone. To the analyst, bulls are the current victors as odds appear to favor them. Analyst Forecast Bitcoin To 90,000 Soon Captain Faibik, another crypto analyst, also seems to perceive more bullish momentum for Bitcoin. In an X post, the analyst suggests that BTCs bullish pennant upside break is confirmed on the daily chart. Per the chart, the flagship cryptocurrencys price started a consolidation period in early March, forming a pennant pattern. This pattern saw an upside breakout after Mondays daily candle closed above the $70,000 price range. Due to this breakout, the analyst forecasts a surge to the $88,000-$90,000 price range this month. $BTC Bullish Pennant Upside Breakout is Confirmed on the Daily timeframe Chart.. Now, Send Bitcoin to the 88-90k this Month. #Crypto #BTC #Bitcoin pic.twitter.com/ok2DGPXsAb — Captain Faibik (@CryptoFaibik) April 9, 2024   At the time of writing, Bitcoin remains above the $70,000 support level, only 5% below its most recent all-time high (ATH) price of $73,373. Despite the positive resistance, BTCs price performance shows a slight decrease of 2.3% from yesterday. Similarly, its daily trading volume and market capitalization have mildly dropped. According to CoinMarketCap data, BTCs daily trading volume is down by 6%, while its market cap of $1.38 trillion represents a 2.1% decrease. Nonetheless, Bitcoin remains 8.4% above its price seven days ago, trading at $70,378. Further bullish sentiment, fueled by the upcoming “Halving” event, could help the largest cryptocurrency by market capitalization consolidate its support above the current levels. Related Reading: Crypto Expert Reveals What To Expect For Bitcoin, Dogecoin, And XRP In 12-16 Months Bitcoin sits above the $70,000 support level in the 1-day chart. Source: BTCUSDT on Tradingview  Featured Image from Unsplash.com, Chart from TradingView.com

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Bitcoin (BTC) Price Compressing Between Two Key Levels Is $74,000 Or $91,000 Next?

As Bitcoin (BTC) recovers from its five-month low, the cryptocurrency attempts to reclaim the $84,000 resistance. Some market watchers suggest that more volatility could be around the counter, as the price is compressing between two key levels. Related Reading: Ethereum Set For Potential Rally After 10% Surge Can ETH Recover $1,800? Bitcoin Retests 4-Month Downtrend Line Over the past week, Bitcoin has been trading between the $74,000-$84,000 price range following the recent tariff war-related volatility. After hitting a one-week high of $84,720, the flagship crypto hit a five-month low of $74,773, driven by this weeks market correction. Amid this performance, the cryptocurrency risked a 13.7% drop to the $69,000 support, as it generally needs a daily close above the $78,500 level for a potential short-term rebound. However, BTCs price has surged 13.5% since Mondays lows and attempted to reclaim the $84,000 resistance. The market recovery was fueled by US President Donald Trumps 90-day pause on the trade tariffs for over 75 nations, which saw the crypto market and stock prices jump 6%-10% in an hour this Wednesday. Nonetheless, the tariffs-driven rally slowed Thursday, with Bitcoin retracing nearly 5% to the $79,000 support. Analyst Alex Clay asserted that despite the bullish rally, BTCs price needed to reclaim the broken $80,000 support and break through the descending 4-month resistance as its short-term structure continued looking bearish. During BTCs 7% surge in the past 24 hours, the analyst highlighted the key support zone held, invalidating his bearish scenario. However, a breakout and reclaim confirmation of the $84,000 remained crucial for BTCs price. BTC Preparing For More Volatility? Analyst Rekt Capital pointed out that Bitcoin successfully retested the $78,500 support, but its price was rejected from the 4-month downtrend resistance. Therefore, the flagship cryptos price is now compressing between these two levels, which usually precedes volatility. The analyst also noted that BTC is developing yet another Higher Low on the RSI while forming Lower Lows on the price. During this cycle, the cryptocurrency has formed multiple bullish RSI divergences in the daily chart, each preceding a reversal to the levels. Bitcoin’s Daily RSI equaled 2022 Bear Market RSI levels (RSI=23.93) when price crashed into the high $70,000s. The only lower Daily RSI in this cycle was back in August 2023 (RSI=18.28). Throughout this cycle, each visit into sub-25 RSI resulted in a trend reversal to the upside over time. Related Reading: Solana (SOL) Needs 15% Bounce After Multi-Year Support Retest, Recovery Ahead? Meanwhile, crypto analyst Ali Martinez suggested that BTC could see a retrace back to the $74,000 support zone. He observed that Bitcoins movements within its weekly range display a W-shape to the upper boundary, and its price action seemed to be forming an M-shape after Thursdays retrace and Fridays jump, which eyes the ranges lower boundary. On the contrary, the analyst also highlighted Bitcoins Friday performance, affirming that it is slicing through key resistance at $82,360. Notably, BTCs price then jumped toward the $84,000 barrier, hitting a daily high of $84,220 before retracing to the $83,500 mark. According to Martinez, A sustained breakout could open the door to $91,500. As of this writing, Bitcoin trades at $83,640, a 1% decline in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

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Bitcoin Sentiment Returns To Extreme Greed As BTC Breaks $71,000

Data shows the Bitcoin market sentiment has returned to the extreme greed territory as BTC has registered its rally beyond the $71,000 level. Bitcoin Fear & Greed Index Now Points To “Extreme Greed” The “Fear & Greed Index” is an indicator made by Alternative that tells us about the general sentiment among the investors in the Bitcoin and wider cryptocurrency market. This index represents the sentiment as a score between zero and hundred. To calculate this value, the indicator takes into account the data of these factors: volatility, trading volume, social media sentiment, market cap dominance, and Google Trends. Related Reading: Bitcoin Top In Yet? What The Legendary MVRV Ratio Says When the indicator has a value of 46 or less, it means that the average investor holds a sentiment of fear right now. On the other hand, a value of 54 or more implies the market shares a majority mentality of greed. Naturally, the region in-between these two (47 to 53) corresponds to the neutral sentiment. Now, here is what the latest value of the Bitcoin Fear & Greed Index looks like: The index appears to have a value of 81 at the moment | Source: Alternative As is visible above, the Bitcoin Fear & Greed Index is at 81 right now, meaning that it’s deep into the greed region. In fact, this value is so deep that it’s inside a territory known as “extreme greed.” Extreme greed occurs when the index hits values higher than 75. Fear also has its own extreme region; this one occupying values under 25. Historically, these two sentiments have proven to be particularly significant for the market. BTC and other assets in the sector have often tended to move in the opposite direction from what the majority expect. In the territory of the extreme sentiments, this expectation is naturally the strongest, and hence, the probability of a contrary move taking place is also the highest. Because of this reason, major tops and bottoms in Bitcoin’s price have typically taken shape when the cryptocurrency has been inside the respective extreme zones. Earlier in the month, the Fear & Greed Index had assumed especially high extreme greed levels, as the asset’s rally towards new all-time highs (ATHs) had occurred. Two of the major tops in this period, including the current ATH, coincided with peaks in the indicator, implying that the overheated sentiment may have once again played a role. Looks like the value of the metric has turned around in the past day | Source: Alternative With the recent drawdown in the asset, though, the sentiment also cooled off and exited out of the extreme greed territory, as is visible in the above chart. In bullish periods, the sentiment retreading back to the normal greed region can be a positive sign for fresh upward moves to start. And indeed, this has followed for the cryptocurrency this time as well, as its price has made notable recovery over the past couple of days. With the coin making a return back towards $71,000, the sentiment has also heated up again, hence why the index’s latest value is pointing at extreme greed. Related Reading: Bitcoin Retests Resistance: Heres The Level A Break Could Lead To The aforementioned tops from earlier in the month occurred at Fear & Greed Index values of 90 and 88, respectively, suggesting that the current extreme greed value of 81 may not be too high for another peak to be probable. BTC Price Bitcoin had broken above the $71,000 level earlier in the day, but the digital asset has since registered a bit of a pullback towards $70,700. The price of the coin seems to have sharply risen over the past two days | Source: BTCUSD on TradingView Featured image from Shutterstock.com, Alternative.me, chart from TradingView.com

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Bitcoin Retests Resistance: Heres The Level A Break Could Lead To

Data shows Bitcoin is currently retesting a major on-chain resistance level, and a break above which can potentially lead to a surge in its price. Bitcoin Has Major On-Chain Resistance Around $67,000 As pointed out by analyst Ali in a post on X, BTC may be able to see a rise towards the $72,900 level if the asset can break the current on-chain resistance barrier. Related Reading: Bitcoin Long-Term Holders & Price Top: Glassnode Reveals Pattern In on-chain analysis, any level’s potential to act as support or resistance is measured using the amount of Bitcoin that was acquired/bought by the investors around said level. The analyst has shared the chart for the “UTXO Realized Price Distribution” (URPD) indicator from Glassnode, that reveals how the various levels around the current spot value of BTC are looking like right now based on the density of supply that was last bought at them. Looks like there is significant resistance coming up ahead at the $72,900 mark | Source: @ali_charts on X The URPD here is “ATH partitioned,” which means that the price ranges here are defined by dividing the levels between zero and the current all-time high (ATH) into 100 equal partitions. From the chart, it’s visible that the partition around the $66,990 level carries the cost basis of a notable amount of the supply right now (1.3%). This also happens to be the range BTC is retesting at the moment. Generally, the cost basis is a special level for investors, and thus, they tend to be more likely to show some reaction when a retest takes place. If a large number of holders share their cost basis inside the same narrow range, then this reaction may result in a scale that could be relevant for the market. As for what direction this reaction from the holders would be probable to happen depends on the side the retest is happening from. A retest from under (meaning that these holders had been in loss prior to the retest) could lead to a selling reaction in the market. This is because these investors may not want to risk the cryptocurrency declining again in the future, so exiting while they have the opportunity to at their break-even might be tempting. Related Reading: This Bitcoin Halving May Not Result In Supply Squeeze: Glassnode As such, retests like these can lead to the asset feeling some degree of resistance. In the current case, the range is notably filled up with coins, so it’s possible that the strength of this resistance would be just as powerful. From the chart, it’s visible that after this range, the asset potentially faces no strong on-chain resistance barriers until the $72,879 level, which hosts the cost basis of about 1.61% of the supply. “If Bitcoin can break past $66,990, it will likely rise toward $72,880!” says Ali. BTC Price Bitcoin has been climbing up in the past day, with its price now reaching the $67,200 level. Should this surge be sustained, the asset would be through the current resistance block. The price of the coin appears to have been going up over the past couple of days | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, Glassnode.com, chart from TradingView.com

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Bitcoin Hits 3-Month High Above $47.2K, Breaks Even for the First Time in 2022

The world’s most valuable crypto, Bitcoin, continues its seventh consecutive green day, blitzing past a significant level of $46k to set a new three-month high.

Continue reading Bitcoin Hits 3-Month High Above $47.2K, Breaks Even for the First Time in 2022 at DailyCoin.com.

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Bitcoin CDD Shows Bullish Breakout, Rally Returning In Full Flow?

On-chain data shows a bullish breakout brewing in the Binary CDD indicator for Bitcoin, a sign that a strong price rise could be ahead for the asset. Bitcoin Binary CDD Is Breaking Out Of Accumulation Zone As pointed out by an analyst in a CryptoQuant Quicktake post, the Binary Coin Days Destroyed (CDD) appears to be forming a pattern for the cryptocurrency that has usually been the starting point of a bullish trend. A “coin day” refers to a quantity that 1 BTC accumulates after staying dormant on the blockchain for “1” day. When a token that had been dormant for some number of days finally moves on the network, its coin days counter naturally resets back to zero. Related Reading: Chainlink Surges 12% To $18: Price Set To Retest $20 Next? The coin days that this token was carrying are thus said to be “destroyed.” The CDD keeps track of the total number of such coin days being reset through transactions across the network. The Binary CDD, the actual metric of interest here, compares the current CDD against its historical average to tell us whether the CDD is higher or lower than the norm right now. As its name suggests, it can only assume one of two values: 0 or 1. Now, here is a chart that shows the trend in the Bitcoin Binary CDD over the last few years: The value of the metric appears to have been getting more dense recently | Source: CryptoQuant From the graph, it’s visible that the Bitcoin Binary CDD didn’t register a value of 1 too frequently between the end of the 2021 bull run and the final parts of 2023. Since around November of last year, though, the density of instances where Binary CDD observed 1 has grown stronger. When the Binary CDD is 1, it means that the CDD is greater than its historical average currently. This implies that old coins are observing more movement than usual right now. The “long-term holders” (LTHs) are investors who carry large amounts of coin days at any given point, as they tend to keep their BTC dormant for long periods (the cutoff for a holder to be included in the cohort is 155 days). As such, spikes in the CDD tend to signal that these HODLers are on the move. “In an upward cycle, the movement of long-term holders increases as the price rises (orange boxes), and in a downward cycle, it decreases (blue boxes),” notes the quant. “This pattern has been repeating since the previous cycles.” Since the LTHs have started to move now, it’s possible the market is now in the same phase as during the previous bullish periods, highlighted with the orange boxes by the analyst. A similar pattern is also visible in the 182-day moving average (MA) of the Binary CDD, as the chart below shows. Looks like the metric is starting to show a breakout | Source: CryptoQuant As is apparent from the graph, the 182-day MA of the Bitcoin binary CDD is beginning to break out of the accumulation zone, which is something that has historically led to sustained price surges for the cryptocurrency. Related Reading: These Are The Four Key Bitcoin Price Levels To Watch, Reveals Analyst “It’s still worth monitoring, but finally, it has broken out of this range,” says the quant. “If it strongly surpasses this range, there is a high possibility that a full-fledged upward price cycle is beginning.” BTC Price After its dip towards the $42,200 mark over the weekend, Bitcoin appears to have kicked off the week with a return back above $43,000. The price of the coin has already bounced back today | Source: BTCUSD on TradingView Featured image from Shutterstock.com, charts from TradingView.com, CryptoQuant.com

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Bitcoin Finds Price Stability: Reclaiming $101,000 Depends On This Level

Bitcoin (BTC) continues to move within its one-week range after recovering from its recent drop to $91,000 but has failed to reclaim support above the $98,000 mark. Some analysts consider that BTCs sentiment will remain neutral while it regains this support zone and builds up momentum toward a new high. Related Reading: Ethereum Holds Bounce Or Die Level: Rebound To $4,000 Could Be Near Bitcoin Price Stability Could Lead To $101K Reclaim Following the start-of-February market correction, Bitcoin has been moving within the $96,000-$99,000 price range. The flagship cryptocurrency has recovered from its momentary fall to $91,000 and found support within its one-week range, only dropping 2% during this Sundays market retrace. The largest cryptocurrency has been hovering between $90,000 and $108,000 since the US Elections pump, moving in the mid-zone of its four-month price range for most of this period. Crypto analyst Rekt Capital pointed out Bitcoins positive performance, as it continues to enjoy price stability above a diagonal trendline support, a previous one-month downtrend line, broken during the latest all-time high (ATH) breakout. Since the DeepSeek-triggered correction, Bitcoin recorded price advances that have been quickly getting canceled out, as evidenced by the recent upside wicks. However, BTCs price continued to hold the diagonal trendline as support over the week, which is necessary to build further momentum. According to the analyst, As long as it continues to hold, the price will be positioned for a revisit of $101k over time. After its most recent price action, BTC needs to reclaim the $97,700 mark to build on this reversal with additional follow-through. To achieve this, the flagship cryptocurrency must print a daily close above this level and reclaim it as support to build on its momentum toward the $101,000 resistance. BTC Remain Bullish in Higher Timeframes Daan Crypto Trades highlighted BTCs range hasnt changed, as it continues to move sideways while many altcoins have been losing ground. According to the X post, Bitcoin is consolidating while attempting a breakout on the lower timeframes. If the flagship crypto reclaims the highs from last weeks initial bounce, above the $100,000 barrier, BTCs market structure will flip around. Daan stated BTCs momentum is pretty neutral in the short term while bullish in the higher timeframes. Additionally, he pointed out that risk on sentiment will return once Bitcoin goes back into price discovery. According to Rekt Capital, BTCs Second Price Discovery Uptrend should come in the next few weeks, as the cryptocurrency is trying to trend reverse out of its 1st Price Discovery Correction, which started in December. Related Reading: Can Bitcoin Hold $97K? 1-3 Month Holders Data Reveals Crucial BTC Demand Bitcoin has historically begun its second leg up around the 16th week of its Post-Halving Parabolic Phase, suggesting Bitcoin could start its next run to new highs soon. Moreover, February has also been a historically positive month for the flagship crypto. Several analysts have pointed out that BTCs post-halving year performance has generally been favorable during Q1, generally struggling throughout the first few weeks of the year but gaining momentum throughout February and March. As of this writing, Bitcoin trades at $96,091, a 1.2% decrease in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

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Bitcoin social sentiment drops to yearly low, signaling BTC breakout

Bitcoin could see another week of correction before it manages to recover above $100,000, based on historical chart patterns.

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Bitcoin Data Reveals Bulls Are Growing But Still Behind March 2024 Peak Details

Bitcoin has proven unstoppable, breaking all-time highs five times in six days and surging past the $82,000 mark. This latest milestone cements Bitcoin’s momentum as it pushes into uncharted territory, capturing the bulls’ attention and sparking new levels of optimism in the market.  According to recent data from CryptoQuant, the number of bullish investors is growing rapidly, yet theres reason to believe Bitcoins rally is far from over. Related Reading: Ethereum Analyst Sees Altseason Potential As BTS Is Still Outpacing ETH Time To Buy Altcoins? CryptoQuants insights indicate that BTC remains significantly below its March 2024 peak in several key metrics, which suggests that Bitcoin may still have room to climb within this cycle. This gap highlights that, despite the impressive gains, Bitcoin could still be building toward a true cycle peak, with potential gains yet to be realized.  As investor sentiment strengthens and Bitcoin shows resilience at each new level, the market watches closely for signs of continued upward momentum. The next few days will be crucial in determining just how far Bitcoin can go as it solidifies its place in the next phase of this bull run. Bitcoin Bulls Enter The Room Bitcoin bulls have returned after eight months of sideways consolidation and significant selling pressure. With Bitcoin now trading 11% above its previous all-time high from March, market sentiment has turned decisively bullish, marking the start of a new trend.  According to data from CryptoQuant analyst Axel Adler, the number of bullish investors in the market is steadily rising, signaling growing confidence. However, despite this uptick, the current rally lacks the frenzied demand seen during the March 2024 rally, when both retail and institutional interest reached euphoric levels. Adlers data indicates that while bulls have a strong foothold in the market, the pace of accumulation by new retail and institutional participants is still relatively modest. This gap between the current market dynamics and those seen in March suggests that Bitcoins latest surge may be just the beginning rather than the end of its upward trajectory in this cycle.  Related Reading: Cardano Skyrockets Over 40% Funding Rate Suggests Further Upside The slower but steady rise in buying interest could indicate that Bitcoin is still in the early stages of this bullish phase, with room for further growth before reaching a cycle peak. For investors, this could present a promising opportunity. The subdued retail and institutional excitement level suggests that Bitcoin has yet to capture mainstream attention as it did during previous peaks. If demand rises gradually, Bitcoin may experience sustained growth over the coming months, potentially reaching new highs as momentum builds.  BTC Setting New High Bitcoin recently set a new all-time high above $82,000, which many investors previously viewed as a likely local top. However, BTCs price action remains robust, and it may be too soon to call for a definitive peak.  Despite this upward momentum, a potential pullback to $77,000 could be on the horizon, as there is an unfilled gap in the CME futures market between $77,000 and $81,000a technical level that often attracts price action as traders look to close the gap. This week will likely bring significant volatility as bulls control the market. With Bitcoin in uncharted territory, some investors may seize the opportunity to lock in profits, which could introduce selling pressure.  Related Reading: Avalanche Nears Breakout Top Analyst Sets $420 Target For AVAX This Cycle Nonetheless, the dominant trend is bullish, and a brief correction to $77,000 could provide a foundation for further upside. Bitcoins strength remains intact for now, but all eyes will be on how it responds to the volatility and whether it can maintain this high range or dip slightly before resuming its climb.  Featured image from Dall-E, chart from TradingView

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Bitcoin on track for $85K, breaks record $82.4K uncharted territory

Increasingly more analysts expect Bitcoin to breach the $100,000 mark before the end of 2024 as investor appetite was bolstered by Trumps presidential victory.

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Bitcoin Failed Attempt To Break $64,000 Could Lead To A Disaster Analyst

After weeks of massive volatility, Bitcoin faces heightened risk after failing to break above a key resistance level of around $64,000. Following the Federal Reserve’s decision to cut interest rates, many investors and traders anticipated a full-blown rally throughout October. However, it appears that the expected surge may not materialize just yet. Top crypto analyst [...]

The post Bitcoin Failed Attempt To Break $64,000 Could Lead To A Disaster Analyst appeared first on Crypto Breaking News.

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Bitcoin Holds Steady As Bullish Breakout Awaits These Conditions Details

According to data from CoinMarketCap, Bitcoin currently hovers near the $62,000 price mark with no significant movement in the past day. Notably, the premier cryptocurrency has slipped into a minor consolidation state since the little gains recorded on Friday. However, for long-term traders, Bitcoin has remained in a range-bound movement stretching to March. And while many investors are highly expectant of a bullish breakout in Q4 2024, certain market conditions must be met. Related Reading: Bitcoin Futures Liquidation Forms Local Price Bottom A Return To $65,000 Inevitable? Bitcoin MVRV, CQ Bull & Bear Indicators Show Market Uneasiness In a Quicktake post on CryptoQuant, an analyst with username burakkesmeci shares that the Bitcoin market is currently set for key price movements. Based on the MVRV Ratio and CQ Bull & Bear metric, burakkesmeci notes that Bitcoin investors are presently showing a significant level of market anticipation.  For context, the MVRV Ratio compares the current price of Bitcoin to its realized value i.e. the price at which the asset last moved on-chain. It is generally used to indicate if Bitcoin is undervalued or overvalued relative to its realized value.  When the MVRV ratio crosses above its 365-day Simple Moving Average (SMA 365), it indicates a bullish trend as investors are seeing a year-to-date gain on their assets. However, burakkesmeci notes that Bitcoins MVRV currently at 1.90 has been hovering just below its SMA 365 (2.03) since July showing the BTC market remains in a steady position waiting for a breakout. The analyst has also observed a similar pattern in the CQ Bull & Bear indicator which measures recent price action relative to longer-term price movements. According to burrakesmeci, the CQ Bull & Bear metric has been oscillating slightly below its SMA 365 (0.46) since August enforcing the notion that the Bitcoin market is in a holding pattern.   Related Reading: Bitcoin Investors Show Fear Could A Price Bottom Be Imminent? Factors That Will Spark A Bitcoin Rally For Bitcoin to experience a bullish breakout from its current holding position, burakkesmeci highlights certain events that must occur. First, he notes that the Federal Reserve must fully engage in a rate-cut cycle, gradually lowering interest rates over time. Interestingly, following a 50 basis points cut in September, market experts are tipping the Fed to implement another 25% cut at their next FOMC meeting in November.   Another bullish factor highlighted by burakkesmeci is an impending quantitative easing which will see the US government inject liquidity into the economy. It is expected that higher liquidity will allow individuals to explore risky investments such as Bitcoin.  At the time of writing, Bitcoin trades at $62,009 with a 0.02% loss in the past 24 hours. Meanwhile, the assets daily trading volume is down by 53.80% and valued at $12.97 billion.  Featured image from StomGain, chart from Tradingview

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On-Chain Metrics Reveal Bitcoin Demand Is Growing Can BTC Break ATHs In Q4?

Bitcoin surged over 5% yesterday, following a positive day across the crypto market. This sudden price boost has sparked optimism among investors and analysts, anticipating even bigger gains in the coming months. Market sentiment is improving alongside price action, fueling hopes for a sustained rally. Key data from CryptoQuant suggests that Bitcoin demand is rising, supporting [...]

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