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The outlook for Bitcoin is significant this September as market gurus try to determine movements in its price and other trends. The analysis has indicated crucial levels that would define the BTC price and previous trends likely to be seen in the next few days. On September 5th, Daan Crypto Trades pointed out that it […]
Bitcoin has once more experienced a major drop, dropping to below $56 000 and going as low as $55 600 this week. In a recent post on X, popular crypto analyst Ash Crypto explained the reasons for another fall of BTC. This decline is mainly attributed to worldwide economic factors such as stock market crashes […]
Blockchain analytics firm Santiment has revealed that whale transaction volumes have dropped sharply across top cryptocurrencies including Bitcoin and Ethereum. The decline in large transactions, especially those in excess of $100,000, could be attributed to a shift in the behavior of some of the largest owners of these assets, and the potential consequences for the […]
Bitcoin open interest is testing a yearly high range of $35B while spot volumes remain skewed towards the sell side, indicating higher downside volatility.
Bitcoins significant drop in capital inflows over the last six months is contributing to the current price consolidation.
Bitcoin and SPX share a high correlation index as the US stock approaches a new all-time high a day before the Fed cuts interest rates.
Bitcoin price technical setups, including a "cup and handle" pattern, suggest an explosive move to $100,000-$150,000 over the coming months.
Bitcoin futures CME gaps have been filled by price every time over the past quarter, and over the weekend, another gap was formed near $54,000.
The behavior of Bitcoins value during the 2023-2024 market cycle can be divided into four phases. Daan Crypto Trades highlighted in a recent post on X that these stages consist of two rallies and two consolidation periods with the second phase of each stage longer than the first. This pattern makes it easier to describe […]
Popular crypto trader and analyst Captain Faibik has pointed out a bullish flag pattern for Bitcoin (BTC) on the daily chart. Faibik highlighted in a recent X post that such a pattern could be indicative of further upward trajectory for the cryptocurrency. Faibik stressed that the CME model is limited by its lack of completely […]
The famous crypto trader Crypto Rover has presented a detailed review of the recent important Bitcoin collapse on the weekend. As market participants fear the market crash and a subsequent economic recession, Rover provides trends and forecasts in crypto markets today in a recent YouTube video. In the current trading period, BTC formed a new […]
As the United States Federal rate cut is fast approaching, analysts at QCP Capital, a global digital asset trading firm and market maker has now shared their prediction on how this development could impact Bitcoin price. According to the analysts, the upcoming U.S. non-farm payroll report and Fridays GDP data will play crucial roles in [...]
The post How Will The US Upcoming Fed Rate Cut Impact Bitcoin? QCP Analysts Weigh In appeared first on Crypto Breaking News.
Bitcoin marked a pullback this week, and while it was trading as high as $65,000, it has now moved down and is fluctuating within the area of $58,000- $60,000. This pullback wiped out a major part of the previous weeks up move and has kept the market in a dizzy state, waiting for key economic […]
Bitcoin (BTC), after briefly reclaiming the $61,000 price mark yesterday has now fallen below it continuing its bearishness as of today. Amid this negative price action, the asset’s hash price, a key metric reflecting miners’ profitability, has reached historically low levels. According to a recent analysis by Woominkyu, a CryptoQuant analyst, this significant drop in hash price might signal a prime buying opportunity for investors. Related Reading: Bitcoin Reclaims $61,000: Key Levels To Watch For Continuous Surge Understanding The Hash Price And Its Relation To Buying Opportunity Woominkyu revealed in his analysis that the hash price, which measures the relationship between Bitcoins price and the revenue miners generate per unit of computational power, has shown a consistent pattern. When this metric falls to lower levels, it often coincides with Bitcoin’s price bottoming out. Woominkyus further shared a chart highlighting that the blue-shaded sections on the chart represent periods where the hash price dipped, corresponding to times when Bitcoins price was at or near its lowest points. The historical data suggests that these periods have been followed by significant price recoveries. Woominkyu believes that the current low hash price could indicate that Bitcoin is near a bottom, presenting a potential buying opportunity for long-term investors. Lowest Bitcoin Hash Price Indicating the Buy Opportunity The highlighted sections in the chart indicate periods where the Hash Price dropped to lower levels, corresponding to times when #Bitcoin prices were also at or near their lowest points. By @Woo_Minkyu Link pic.twitter.com/ZPf0cSTnNN CryptoQuant.com (@cryptoquant_com) August 30, 2024 Another Analyst Points To Re-Accumulation Bitcoin Phase Echoing Woominkyus sentiment, another renowned crypto analyst known as Moustache shared insights on the Puell Multiple, a metric used to assess Bitcoins market cycles. The Puell Multiple, which compares the daily issuance of Bitcoin to its historical average, is currently at a level that Moustache believes offers the second-best “re-accumulation” opportunity since 2022. In a post uploaded on X earlier today, Moustache emphasized that Bitcoins current market position is comparable to previous significant periods in 2012, 2016, and 2020. Related Reading: Bitcoins Momentum at Risk? NVT Golden Cross Sends Warning Signals These were times when the market was primed for substantial upward movements following a phase of consolidation. #Bitcoin – The Puell Multiple I call it here: This is your second best chance after 2022 to re-accumulate before the next wave starts.$BTC is where it was in 2012, 2016 and 2020. Even if it doesn’t feel like it, I think we’ve some incredibly exciting months ahead of us. pic.twitter.com/lpVXQOXvtC (@el_crypto_prof) August 30, 2024 Moustache suggested that despite the current sentiment, the next few months could bring “incredibly exciting” developments for Bitcoin. Featured image created with DALL-E, Chart from TradingView
Bitcoin is in a critical point as trading signs point to a large price shift soon. Mikuybull highlighted the possibility of BTC to achieve the price level of $111 thousand by Q4. He anticipated that the last logarithmic band could take the price of a Bitcoin to an astounding $215,000. Further fueling the anticipation, data […]
Bitcoin saw a large price dip, going down from $65,062 to $58,053, a 10.8% drop in the last two days. Ethereum also decreased significantly from $2,792 to $2,384, which is about a 14.5% decrease. A popular analytical platform CryptoQuant recently shared five charts that would shed light on why the cryptocurrency market reached this sudden […]
Bitcoin has been participating in a retest of its Pi Cycle Moving Average (MA) after recently achieving a daily close above this key technical indicator. In a recent X post, Crypto Rover explained that this retest is crucial as it could define whether BTC could build a new support at the Pi Cycle MA to […]
Following the Bitcoin price surge back to $64,000, crypto analyst Rekt Capital is predicting a major breakout move in the coming weeks. In a new video analysis, the analyst forecasts a significant market movement around October 2024, based on historical precedents and current chart patterns. Will October Be Bullish For Bitcoin Again? Looking at the weekly chart, Rekt Capital identifies a downtrending channel. Over the past four weeks, BTC has been deviating below this channel, searching for support that would enable a price expansion above the channel’s bottom. This movement has been met with a “fantastic recovery,” signaling potential for a return to the channel top at around $67,000 in the coming weeks. “The channel bottom rebound is crucial as it has historically taken price from the channel bottom to the top in approximately two weeks on average,” Rekt Capital explained. He highlighted the importance of weekly candle closes above specific levels, particularly at $67,500 and eventually at $71,500, which would mark a break from the reaccumulation range high established post-halving. Related Reading: Crypto Analyst Sounds Alarm: Heres Why Its Your Last Chance To Buy Bitcoin “The consistent pattern of bouncing from the channel bottom to the top typically spans an average of two weeks, but in the current context, we are observing a potentially elongated consolidation phase at these lower levels,” explained Rekt Capital. This observation suggests that while the rebound trajectory follows historical patterns, the consolidation at lower prices could afford investors bargain buying opportunities. Focusing on the technical thresholds, Rekt Capital emphasized the criticality of several weekly candle closes above pivotal price points. Firstly, a close above $66,000 would reconfirm the reaccumulation ranges lower boundary as a newfound support, setting the stage for further upward movement. More importantly, a decisive weekly close above $67,500 would signify a breach of the persistent lower highs trend that has dominated since March of this year. Related Reading: Bitcoin (BTC) Long-Term Holders Locking Consistent Gains: A Sign Of Stability? The weekly close above these specific levels is not merely a technical achievement but a psychological victory for market participants, indicating a weakening of sell-side pressure and a regain of bullish momentum, noted Rekt Capital. Historically, Bitcoin shows a tendency to initiate major rallies approximately 150 to 160 days following a halving event. Drawing parallels from the post-halving periods of 2016 and 2020, the analyst suggested that similar conditions are currently forming, with Bitcoin being around 133 days post the latest halving. “This cyclical observation aligns well with the current market dynamics, where Bitcoin is methodically testing and, in some cases, breaching important technical barriers,” he remarked. This comparison is not only based on temporal patterns but also on the qualitative nature of market behavior during these periods. A significant point of analysis was the 21-week EMA, a key indicator often regarded as the bull market barometer. Rekt Capital highlighted its historical significance, noting, “Deviations below the 21-week EMA in bull markets typically offer lucrative buying opportunities, as seen in the 2021 cycle. Currently, Bitcoin is oscillating around this EMA, providing mixed signals that require vigilant interpretation.” Looking ahead, the analyst projects that for Bitcoin to embark on a new parabolic phase leading to price discovery and potentially new all-time highs, it must first consolidate above the $71,500 levelrepresenting the reaccumulation range high. This level has previously acted as a formidable resistance, and a weekly close above it would likely catalyze a major bullish phase. “In the coming weeks, the market’s ability to uphold these critical supports and break through resistance levels with conviction will be paramount. This will determine the feasibility of a breakout aligning with historical patterns observed post-halving,” Rekt Capital concluded, suggesting that October could be pivotal for Bitcoin’s trajectory. At press time, BTC traded at $63,956. Featured image created with DALL.E, chart from TradingView.com
The positive correlation between the ETH/BTC pair and the US Dollar Index has strengthened ahead of the Federal Reserves September rate decision.
In the past few weeks, following a series of corrections, Bitcoin and the broader crypto market have experienced a significant surge from the lower prices of 2024. The momentum picked up notably on Friday after Jerome Powell, Chairman of the Board of Governors of the Federal Reserve System, announced a shift in policy, hinting at [...]
The post Bitcoin (BTC) Long-Term Holders Locking Consistent Gains: A Sign Of Stability? appeared first on Crypto Breaking News.
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