Bitcoin Makes Sharp Recovery, But Watch Out For Resistance At $64,000

On-chain data shows that the Bitcoin short-term holder whales have a cost base above $64,000, which could be a potential resistance point for BTC. Bitcoin Is Not Far From Realized Price Of Short-Term Holder Whales After Rally As pointed out by an analyst in a CryptoQuant Quicktake post, the BTC price had slipped below the Realized Price of the short-term holder whales earlier. The “Realized Price” here refers to an indicator that keeps track of the average cost basis that the investors of a particular group currently share. Related Reading: Bitcoin NVT Golden Cross Gives Bottom Signal: What Happened Last 2 Times When the asset’s spot price is under this metric, the holders belonging to the cohort are in a state of net unrealized loss. Similarly, it being above the indicator implies the group is enjoying profits. In the context of the current topic, there are two market segments of interest: the short-term holder and long-term holder whales. The short-term and long-term holders are the two main divisions of the Bitcoin sector based on holding time. The short-term holders (STHs) are the investors who bought their coins within the past 155 days, while the long-term holders (LTHs) include the hands who have kept their coins dormant for longer than this period. The “whales” generally refer to the entities that carry at least 1,000 BTC in their wallets, so the STH and LTH whales would naturally correspond to the large members of the respective cohorts. Now, here is a chart that shows the trend in the Realized Price for these two Bitcoin groups over the past few years: As displayed in the above graph, the Bitcoin spot price had slipped considerably below the Realized Price of the STH whales during the recent market downturn. However, with the price observing recovery, it has now neared back to that level. The average cost basis of the STH whales is between $64,000 and $65,000, so a retest of it could be coming soon. However, Such a retest could prove difficult for the cryptocurrency. The STHs represent the weak hands of the market, which can be sensitive to changes in the market. The cost basis is naturally an important level for any investor, but this cohort especially can be likely to react when such a retest happens. Since most STH whales have been at a loss recently, some may be desperately looking forward to a retest taking place so they can exit from the market at their break-even level. It remains to be seen whether Bitcoin will overcome this obstacle if the current recovery rally continues that far. Related Reading: XRP Sharks & Whales Push Bags To ATH As Price Rockets 19% While the STH whales suffer losses, the LTH whales continue to be in high profits as their Realized Price is at just $22,000, implying that their patience has paid off. BTC Price Bitcoin had briefly broken above $62,000 during the past day, but the coin’s price has since seen a retrace to $60,500. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com

View Details

Over 75% of Bitcoin short-term holders in profit as BTC breaches $67K

Bitcoin price is finally seeing some relief, but it faces significant resistance at the $68,000 mark, which would trigger over $700 million worth of short liquidations.

View Details

Bitcoin rally above $67.5K could spark new record highs, says 10x Research

Bitcoin could be on the brink of a rally to new record highs, but it still has one significant resistance to overcome, according to Markus Thielen.

View Details

Bitcoin Bulls Face Make-Or-Break Moment At $106,500 Resistance Details

Popular digital asset analyst with X handle Crypto Patel has stated that Bitcoin is currently retesting a crucial price resistance at the $106,500 price region. Based on the assets performance at this level, BTC investors could expect a bullish price continuation or a significant price pullback. After a brief rise above $105,000 on May 12, Bitcoin has remained range-bound, showing no significant price movement since then. However, bullish sentiments remain high as demonstrated by US BTC spot ETFs scooping another almost $2 billion in net weekly investments. Related Reading: Bitcoins $10,000 Stairway: Chart Signals March Toward $115,000 Bitcoin At A Crossroads: Can Bulls Push To $120k Or Does A Fall To $75k Await? In an X post on May 16, Crypto Patel shares a simple technical analysis on Bitcoin price movement, highlighting the present major support and resistance levels. According to the analyst, Bitcoin’s most recent price gain shows the asset is retesting a critical resistance around the $106,500 price region. Notably, this resistance band has proved effective in inducing price rejections in December and January. If Bitcoin bulls can command sufficient market demand to subdue this price barrier, Crypto Patel projects the premier cryptocurrency will sustain its current uptrend with an initial price target set at $120,000. On the other hand, another price rejection could harm current investors’ expectations, as such negative development would force prices below the crucial $90,000 support zone to trade as low as the current market bottom at $75,000. This projected correction hints at a potential 27.1% decline from the present market price despite currently robust bullish sentiments. Interestingly, the Relative Strength Index (RSI) shows that Bitcoin has recently dipped from the overbought territory, thus supporting predictions of an impending price correction. However, macroeconomic developments such as the 90-day tariff truce between the US and China, and strong levels of institutional investment, boost the potential of a bullish trend continuation. Related Reading: Ethereum Headed For Crucial Encounter At $4,000 Heres Why Bitcoin Price Prediction At press time, Bitcoin is valued at $103,355 following a 1.62% decline in the last week. However, the assets monthly performance reflects a 21.46% gain, signalling most new market entrants are still in profit. According to the prediction site, CoinCodex, investors are showing a high level of greed as indicated by the Fear & Greed Index at 74. Coincodex analysts are predicting Bitcoin to reach $127,872 in the next five days, followed by a price correction that will return prices to around $111,616. For long-term investment, the analyst projects Bitcoin to hit a valuation of $155,583 in three months and $148,167 in six months. Featured image from Pexels, chart from Tradingview

View Details

Bitcoins Bullish Fate Hinges On These 2 Resistance Zones Details

The Bitcoin (BTC) market continues to remain in consolidation following another trading week with no convincing price breakout. As multiple analysts continue to speculate on the assets next movement, prominent market expert Ali Martinez has identified two resistance zones that could be pivotal to reigniting a crypto bull run. Related Reading: Bitcoins Safe, Saylor Says, While Trump Waves The Tariff Sword Bitcoin Must Break Past $85,470 And $92,950 – Heres Why Over the past month, Bitcoin has struggled to maintain a sustained uptrend, with investor uncertainty dominating the market. During this period, the leading cryptocurrency has faced multiple rejections, most notably at the $85,000 and $88,000 resistance levels. However, in an X post on Friday, Martinez identified the two resistance zones critical to a Bitcoin bull rally using on-chain data from IntoTheBlock. According to the crypto analyst, the first resistance lies at $85,470 which marks the upper boundary of a price barrier that begins at $83,023. Notably, 1.13 million wallet addresses have traded 607,200 BTC within this price range suggesting a strong historical activity that backs potential heavy selling pressure at these levels. If Bitcoin bulls can push past this initial threshold, the next resistance zone lies at $92,950 the lower boundary of another price ceiling that extends to $95,514. Compared to the initial resistance, this zone has seen lower investor participation, with 795,830 active wallet addresses. However, its potential market impact is more significant, as approximately 627,410 BTC have been traded within this range. If Bitcoin can successfully clear both resistance zones, Ali Martinez postulates the premier cryptocurrency could enter a prolonged uptrend and resume its bull rally. However, Bitcoin bulls must avoid any price fall below a crucial support zone at the $80,450 price level. According to the on-chain data presented, the $80,450 level represents the lower boundary of a key support zone, which extends up to $82,907. Within this range, approximately 516,770 BTC have been transacted, involving around 738,580 active wallet addresses. This data indicates substantial buying activity that could serve as a buffer in the advent of a price fall. Related Reading: Is Korea Propping Up The XRP Price? Pundit Explains Whats Happening Bitcoin Fees Fall By 57% In other developments, IntoThe Block also reports that Bitcoin network fees dropped by 57.3% in the past week indicating a decline in user engagement and general investor activity. Albeit, the premier cryptocurrency has shown only a minor 0.11% decline in price during this period. Following the recent announcement of new US tariffs on imports, Bitcoin and the broader crypto market have responded more positively compared to previous tariff-related news. Ryan Rasmussen, Head of Research at Bitwise Invest, notes that Bitcoin has risen by 2.2% since the announcement on April 2. In contrast, traditional stock markets have seen notable losses, with the “Magnificent Seven” falling by an average of 12.18%. Featured image from Forbes, chart from Tradingview

View Details

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

View Details

Bitcoin Surges Past $87K: Eyes Set on $90K as Whales Go All In

Bitcoin (BTC) has broken through the $87,000 mark, continuing its strong bullish momentum. The cryptocurrency’s latest rally signals increasing investor confidence, with market participants now closely watching the $90,000 resistance level. A decisive move beyond this zone could pave the way for new highs, while a rejection might trigger a short-term pullback. At the time […]

View Details

Bitcoin Lost And Retested The 200-Day MA As Resistance Heres What Happened Last Time

Bitcoin is trading below crucial support levels after massive selling pressure swept through the market. Since late January, BTC has lost over 29% of its value, fueling fear and uncertainty among investors. With global trade war fears intensifying and volatile macroeconomic conditions shaking the crypto and U.S. stock markets, traders are bracing for further downside risk. Related Reading: Bitcoin Drops Below 200-Day MA Next Key Support Lies At $66K According To Mayer Multiple Market sentiment remains overwhelmingly bearish as Bitcoin fails to hold key technical levels. Crypto analyst Daan shared a technical analysis on X, revealing that BTC has broken below the Daily 200-Moving Average (MA) and has now retested it as resistance. Historically, this pattern signals a continuation of bearish price action, indicating that BTC could see more downside in the coming weeks. With Bitcoin struggling to regain momentum, the markets next major move will depend on whether bulls can reclaim lost ground or if further selling pressure will drive BTC toward lower support levels. As uncertainty grows, investors remain cautious, waiting for clear signals before making significant moves. The coming days will be crucial in determining whether Bitcoin can stabilize or if the current downtrend will continue. Bitcoin Downtrend Deepens as Bears Maintain Control Bitcoin has remained in a persistent downtrend since late January, with fear continuing to set lower price targets among investors. Many now question whether the BTC bull cycle is over, as selling pressure intensifies and market sentiment turns increasingly bearish. The uncertainty surrounding macroeconomic conditions has fueled this decline, with volatility increasing since the U.S. elections in November 2024. Given the ongoing trade war fears and unstable global markets, it appears that this period of uncertainty will continue to weigh on Bitcoins price action. Crypto analyst Daan recently shared technical insights on X, highlighting that BTC has lost the 200-day moving average (MA) and has now retested it as resistance. This signals that bears remain in control, and bulls have a lot of work to do to reclaim this level. According to Daan, Bitcoin experienced a similar scenario last year, where price action chopped around these levels for over three months before breaking out. If history repeats itself, BTC could be entering another extended consolidation phase, keeping prices range-bound for months. Related Reading: XRP Flirts With A Daily Range Breakdown Price Must Hold Above $2 Level However, if bulls fail to reclaim the 200-day MA/EMA, further downside could follow, bringing Bitcoin to even lower price levels. With bears still in control, the market remains highly fragile, and investors are watching closely to see whether BTC can stabilize or if another major drop is on the horizon. The next few weeks will be critical as Bitcoin either finds a foothold or continues deeper into bearish territory. Bitcoin Stuck Between $80K and $85K as Fear Continues Bitcoin (BTC) is currently trading between $80,000 and $85,000, struggling to reclaim key price levels amid growing panic selling and fear. With selling pressure dominating the market, investors remain uncertain about Bitcoins next move as bulls fail to push BTC into a recovery phase. For a bullish reversal, BTC must hold above $80,000 and reclaim the $86,000 level, which would signal renewed buying interest and possibly set the stage for a stronger uptrend. However, Bitcoin may enter a sideways consolidation phase below $90,000$88,000, prolonging the uncertainty and keeping price action choppy for weeks. Related Reading: Bitcoin Could Rally Above ATH To $128K On-Chain Indicator Signals Potential Recovery If BTC fails to defend the $80K level, the risk of a deeper correction increases, potentially pushing prices below critical support zones. A breakdown below $80K could trigger another wave of selling, sending BTC toward lower demand levels and extending the current bearish market structure. Traders remain cautious, closely watching whether Bitcoin can stabilize or if another major decline is ahead. Featured image from Dall-E, chart from TradingView

View Details

Bitcoin Bearish Signal: NUPL Finds Rejection At Long-Term Resistance

On-chain data shows the Bitcoin Net Unrealized Profit and Loss (NUPL) has found rejection at the long-term resistance zone recently. Bitcoin NUPL Has Observed Some Decline In Recent Days As explained by an analyst in a CryptoQuant post, the BTC NUPL metric has failed to clear a major resistance. The “NUPL” is an indicator that [...]

The post Bitcoin Bearish Signal: NUPL Finds Rejection At Long-Term Resistance appeared first on Crypto Breaking News.

View Details

Bitcoin aSOPR Again Retests Bull-Bear Junction Level, Will Resistance Break This Time?

Data shows the Bitcoin Adjusted Spent Output Profit Ratio (aSOPR) is retesting the historical bull-bear junction. Will a break be found this time? Bitcoin aSOPR Is Currently Doing Another Rest Of 1.0 Level As per the latest weekly report from Glassnode, a successful retest here could suggest a meaningful regime shift in the BTC market. The “Spent Output Profit Ratio” (SOPR) is an indicator that tells us whether Bitcoin investors are selling their coins at a profit or at a loss right now. When the value of this metric is greater than 1, it means the average holder in the market is moving coins at some profit currently. On the other hand, values below the threshold imply the overall market is realizing some loss at the moment. The SOPR being exactly equal to 1 naturally suggests that investors are just breaking even on their selling right now. A modified version of this indicator is the “Adjusted SOPR” (aSOPR), which filters out all selling of coins that was done within only an hour of said coins being first acquired. The main advantage of this modification is that it removes noise from the data that wouldn’t have any noticeable impacts on the market anyways. Now, here is a chart that shows the trend in the 7-day exponential moving average (EMA) Bitcoin aSOPR over the last couple of years: The 7-day EMA value of the metric seems to have gone up in recent days | Source: Glassnode's The Week Onchain - Week 3, 2023 As shown in the above graph, the 7-day EMA Bitcoin aSOPR has sharply risen recently and has reached the 1 level for the first time since the pre-FTX crash. This level has been historically significant for BTC, as the crypto has often encountered resistance at it during bear market periods. Related Reading: Why A Morning Star Reversal Could Awaken A Monster Bitcoin Rally The reason behind this is the fact that the aSOPR equal to 1 line represents the break-even mark. Whenever the metric increases to this mark, it means enough holders are back in a state of neutrality that they are able to recoup their investment. Psychologically, investors see this as getting their previously lost money “back” and hence large-scale dumping takes place here, thus providing impedance to the crypto’s price. Related Reading: Glassnode Points Out This Bizarre Consistency In Bitcoin Cycles A successful break above this level would suggest, however, that there is enough demand in the Bitcoin market right now that holders are able to realize their profits and buyers are present to absorb this selling. Because of this, such breaks have usually led to a transition from bear to bull markets. When bull markets take hold, the effect of the aSOPR 1 level flips, and the line instead starts providing support to the price of BTC. BTC Price At the time of writing, Bitcoin is trading around $21,200, up 23% in the last week. Looks like the rally has come to a halt since hitting the $21,000 level | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Glassnode.com

View Details

The Level To Beat For Bitcoin To Register Another Bull Rally

Bitcoin remains on a positive recovery trend. One that could very well see it beat the coveted $45,000 resistance point. This price level remains the level to beat for the digital asset as this is where bears continue to mount the most resistance. Bitcoin had tested this level in the early hours of Friday but like always, met significant push that caused it to crash back down below it. In the wake of this crash, the market saw bitcoin lose almost $1,000 in the space of two hours. However, this dip would be defined by a higher low as bitcoin had been able to find support above $44,000 and continue on its recovery. This demonstration at $45,000 shows that until the digital asset can successfully beat and settle above this level, it can never truly be said to have begun another bull run. Related Reading | Quant Explains How Stablecoin Ratio Can Give Bitcoin Buy Or Sell Signals The market is now turning favorable for buyers although sellers still maintain a majority hold on the market. If bitcoin is to beat $45,000 and register on another bull run, then buyers would have to turn up their support. Otherwise, bitcoin will continue to fail in its quest to beat this level. Thus leaving the market in what is threatening to be another long stretch of bear market. In the short term, the indicators are turning bullish in favor of bitcoin. This comes after the digital asset cemented its position above the 50-day simple moving average, an important milestone for an asset looking to break out of a bear trend. This has successfully moved sentiment out of fear in regards to the asset and buying pressures are on the rise. But Why $45,000 For Bitcoin? The $45,000 level is important for bitcoin due to its trading trends in the last few months. Since the December crash, the digital asset has traded between the $36,000 and $44,000 level, never once successfully breaking above $45,000. This shows that this is where bears are taking their stand and a breach of this point would mean another resettlement into the bull territory. In the same vein, $36,000 remains the point to beat for bears. As was witnessed the last four times bitcoin had broken above $40,000 and trended downwards again, significant support showed between $36,000-$38,000. A break below this point would be good news for bears as it would very well put the digital asset on a path down below $30,000. BTC seeing significant support around the $36k-$38k level | Source: BTCUSD on TradingView.com Both these points have now become important make or break points for both camps, leading to a serious tug of war between the two. Related Reading | Bitcoin Miner Revenue Grows By 7%. Here’s How Much They Made Bitcoin is trading above $44,000 at the time of this writing. Indicators point towards another test of the $45,000 level but only if the asset can pick up enough buying momentum to recover above $44,600. Featured image from BBC, chart from TradingView.com

View Details

On-Chain Metrics Reveal The Most Critical Resistance For Bitcoin Can BTC Break $97.5K?

Bitcoin continues to trade within a tight range, holding above the $94K level while struggling to break past the $100K mark. The long-term outlook remains bullish as BTC maintains key demand levels, but short-term price action remains uncertain. Investors and analysts are closely watching for a breakout, with speculation rising that this period of consolidation is the calm before the storm. Related Reading: Ethereum Holds Multi-Year Bullish Structure Time For A Comeback? While bulls have defended crucial support levels, they have been unable to push BTC above key resistance, leading to growing frustration in the market. Analysts suggest that an aggressive move in either direction is imminent. Key metrics from Glassnode reveal that the most critical resistance level for Bitcoin is currently at $97,533. This level has acted as a key rejection zone in recent weeks, preventing BTC from reclaiming momentum. If Bitcoin manages to break and sustain a move above this resistance, it could signal the start of a new uptrend, potentially driving prices toward ATH and beyond. However, failure to do so may lead to continued sideways trading or even another retest of lower demand zones. As market participants await confirmation, Bitcoin remains at a pivotal moment that could define its next major move. Bitcoin Prepares For An Aggressive Move Bitcoin has remained in a quiet consolidation below the $100K mark, creating an environment filled with uncertainty and frustration among traders. Price action remains range-bound, fluctuating between $94K and $100K without any clear direction. Analysts continue to speculate about the next move, with most agreeing that an aggressive breakout is inevitable. However, the major question remainswill it be a bullish surge into price discovery or a selloff into lower demand levels? Top analyst Ali Martinez shared Glassnode data on X, revealing that the most critical resistance level for Bitcoin is currently at $97,533. This level has repeatedly acted as a barrier, preventing bulls from regaining control. Martinez suggests that a sustained breakout above this level could signal further upside, potentially paving the way for a move toward the $100K psychological barrier. Investor sentiment is mixed, with some expecting Bitcoin to reclaim momentum and push past ATH, while others remain cautious due to the prolonged consolidation and weakening volatility. Historically, extended periods of low volatility often precede major price moves, but the market remains divided on which direction BTC will take. For now, Bitcoin continues to trade within a tight range, and investors eagerly await confirmation of the next major trend. Related Reading: Solana Sweeps Lows But Recovers Can Bulls Reclaim $185 by Friday? BTC Price Action Details Bitcoin is trading at $97,300, attempting to reclaim key moving averages that could define its short-term direction. The 4-hour 200 exponential moving average (EMA) at $98K and the 200 moving average (MA) at $100K serve as critical resistance levels that bulls must overcome to confirm an uptrend. If Bitcoin breaks above these levels and holds them as support, it could ignite a massive rally toward new highs. However, uncertainty still dominates the market as BTC struggles to sustain bullish momentum. Investors are closely watching whether the price can break through these resistance zones or if another rejection will occur. A failed attempt to push above the $98K-$100K range could result in increased selling pressure, leading BTC into lower demand zones around $91K. Related Reading: Altseason At Risk? Expert Believes Ethereum Must Hold $2,600 To Sustain Momentum Despite the cautious sentiment, Bitcoins long-term structure remains bullish as it continues to hold above key support levels. The coming days will be crucial as traders look for confirmation of either a breakout or a potential retracement. If BTC manages to reclaim these key moving averages, confidence could return to the market, fueling further upside momentum. Until then, Bitcoin remains in a critical consolidation phase, awaiting its next decisive move. Featured image from Dall-E, chart from TradingView

View Details

Bitcoin Set For Encounter With Key $99,900 Price Level Analyst

The Bitcoin market has begun 2025 on a positive note with gains over 5% in the first four days of the year. Amidst this renewed bullish strength, Bitcoin is preparing for a vital encounter with the $99,900 capable of significantly altering its price trajectory in the short term. Related Reading: Bitcoin Remains Below $100,000: Is the Bull Market Over or Just Taking a Breather? Bull Flag Or Bear Flag, Bitcoin Bulls To Call  In an X post on January 3, crypto analyst with username Plan D shared an analytical commentary on Bitcoins price. Plan D stated the premier cryptocurrency is currently forming a moon flag that will face major resistance at $99,900.  A moon flag here likely refers to a chart pattern that will result in a dramatic price gain upon confirmation. It is based on the bull flag which is a continuation pattern that occurs during an uptrend indicating potential breakout and further price gains. A bull flag is characterized by a period of consolidation after a sharp price gain followed by an uptrend. For Bitcoins moon flag to become valid, Plan D states the asset must break and stay above $99,900, which may result in a sustained price rise to around $108,000. However, if Bitcoin fails to move above $99,900, this development may indicate confirmation of a bear flaga bearish chart pattern that mirrors the bull flag but indicates downward momentum instead. In this case, Bitcoin is projected to fall as low as 78,000 indicating a potential 20.3% from its current market price and 27.7% from its all-time high of $108,268. Plan D notes that while altcoins are currently a profit zone for most investors with Bitcoin Dominance on the decline, the crypto market is not safely on an upward trajectory until Bitcoin breaks above $99,900.     Related Reading: Bitcoin Price Moves From 56 To 60-Day Cycle After Crash Below $100,000, What To Expect Next BTC Price Overview At press time, Bitcoin continues to trade at $97,903 after price gains of 0.72% and 3.95% in the past one and seven days respectively. However, the premier cryptocurrency remains in the red zone on its monthly chart with a 0.77% loss Amidst Bitcoins ongoing price rebound, traders are taking profit as evidenced by a recent reduction in long position on Binance from 66.33% to 56.85%. However, long positions remaining dominant over short positions by 13.7%, indicate that the majority of Binance traders still anticipate Bitcoin to maintain its current uptrend. These bullish sentiments in the Bitcoin market are only likely to grow stronger in the coming days as Donald Trumps presidential inauguration approaches.  Many enthusiasts expect the US President-elect to lead a pro-crypto government based on his electoral campaign promises. Featured image from Investopedia, chart from Tradingview.com

View Details

Bitcoin Reclaims Crucial Liquidity Level No Resistance Left Below ATH

Bitcoin is trading near the $103,000 level following a highly bullish Friday that has energized the market. The recent surge has positioned BTC for a potential rally toward new all-time highs, with analysts closely monitoring its next moves. This renewed momentum comes after a significant breakout that many believe has cleared the path for further price appreciation. Related Reading: Solana Reclaims Monthly And Weekly Support Levels Expert Sets $330 Target Top analyst Jelle has shared a technical analysis that highlights the bullish outlook for Bitcoin. According to Jelle, BTC now faces virtually no resistance following the recent breakout, suggesting that the cryptocurrency could be poised for a rapid ascent. This lack of overhead resistance is a rare and encouraging sign, bolstering investor confidence in Bitcoin’s ability to sustain its upward trajectory. The coming days will be pivotal for Bitcoin as traders and investors look for confirmation of this bullish trend. If BTC continues to hold key support levels and build on its momentum, a rally to uncharted territory appears increasingly likely. With market sentiment turning optimistic and technical indicators aligning, Bitcoin’s current position could mark the start of a transformative phase for the leading cryptocurrency. All eyes are now on BTC as it edges closer to rewriting its own history. Bitcoin Enters A Key Phase  Bitcoin has officially entered a pivotal phase as it broke above the highly anticipated $100,000 mark, signaling the start of what many expect to be an explosive rally. This breakout has ignited widespread optimism among investors, who now believe BTC is on the verge of entering price discoverya phase where it explores uncharted territory beyond its previous all-time high (ATH). Top analyst Jelle recently shared a detailed technical analysis on X, emphasizing the significance of Bitcoins recent price action. According to Jelle, Bitcoins ability to reclaim critical supply levels has effectively cleared the last major resistance zones. With these levels now behind it, BTC faces virtually no resistance as it prepares to surge higher. Jelle also highlighted that the recent breakout aligns with broader market dynamics, adding further weight to the bullish narrative. The next few days will be crucial as Bitcoin tests its newfound strength above the $100K level. Holding this psychological and technical support is essential for sustaining the rally. If BTC maintains its position above this threshold, the move into price discovery becomes almost inevitable, paving the way for rapid gains and new ATHs. Related Reading: Dogecoin Leads The Pack As Dog-Themed Coins Rally Trump Effect Sparks Excitement This bullish momentum comes at a time when market sentiment is overwhelmingly positive. Investors are positioning themselves for what could be one of Bitcoins most transformative periods yet. With fundamentals, technicals, and sentiment all pointing upward, Bitcoin is poised to lead the cryptocurrency market into a new era of growth. As the rally unfolds, the potential for unprecedented price levels underscores Bitcoin’s enduring role as the flagship of the crypto world. BTC Prepares To Surge Bitcoin (BTC) is currently trading at $103,000, maintaining its bullish momentum after an impressive surge on Friday. The price is now holding above the previous local high, signaling strength as it tests demand in a former supply zone. This critical level has shifted from resistance to support, showcasing the market’s growing confidence in Bitcoin’s upward trajectory. Analysts are optimistic that if BTC continues to hold above the $102,000 mark, a push toward new all-time highs (ATH) becomes inevitable. This level represents a strong foundation for the ongoing rally, and maintaining it would confirm short-term strength while supporting the long-term bullish trend. A decisive move above $103,000 would likely trigger heightened market activity, further fueling Bitcoin’s rally into price discovery. However, losing the $102,000 level could lead to a period of consolidation. Such a pullback might delay Bitcoin’s ascent but could also provide an opportunity for the market to regroup before making another attempt at breaking ATH. Related Reading: Ondo Finance Funding Rate Signals Greed Among Investors Sign Of Strength? With Bitcoin now in a pivotal position, traders and investors are watching closely for confirmation of the next big move. Holding key support levels will be essential to sustaining the bullish momentum and keeping Bitcoin on track for its next major breakout. Featured image from Dall-E, chart from TradingView

View Details