Spot Bitcoin ETFs see record inflows after July 4 dip

The Bitcoin price correction provided a strong opportunity for ETF investors to buy the dip.

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Why Bidens exit from the elections briefly pushed Bitcoin price to $68K

Bidens exit from the presidential race helped Bitcoin recover, but analysts expect the decision to cause more uncertainty in the crypto market.

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Analyst Says Only A Matter Of Time Before Bitcoin Flies Past ATH

An analyst explained how Bitcoins availability for trading has quietly declined during the assets recent consolidation phase. Bitcoin May Be In A Good Position To Set New All-Time Highs In a new post on X, analyst Willy Woo discusses the recent trend in the Bitcoin inventory sitting on centralized exchange platforms. Related Reading The chart [...]

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Analyst Says $71,000 Bitcoin Move Is Only Halfway Through, Heres Why

An analyst has explained how the current Bitcoin surge appears to have hit the halfway completion mark if this indicator is to go by. Bitcoin VWAP Oscillator Suggests BTC Rally Only Halfway Done In a new post on X, analyst Willy Woo has posted an update for how the Bitcoin Volume Weighted Average Price (VWAP) Oscillator is looking like after the latest rally. The VWAP is an indicator that, as its full form suggests, calculates an average price for the cryptocurrency based on not just the changes in the price over the day but also the volume that was traded at these prices. Related Reading: Litecoin Whales Go On $230 Million Buying Spree: Will This Change LTCs Stars? Normally, this volume is measured using the spot volume data provided by centralized exchanges. Still, in the case of Bitcoin, the blockchain is available for anyone to explore, so on-chain volume is used to calculate the VWAP instead. The VWAP Oscillator, which is the actual metric of interest here, takes the ratio between the cryptocurrency’s spot price and the VWAP and represents it as an oscillator around zero. Earlier in the month, Woo had pointed out how the Bitcoin VWAP Oscillator was forming a bullish divergence for the asset. As is visible in the chart, the Bitcoin VWAP Oscillator climbed up inside the negative territory after forming an apparent bottom back then. At the same time, the cryptocurrency’s price had been heading down instead. In the past, such a setup has proven to be bullish for the coin, and the resulting bullish momentum usually lasts until the VWAP Oscillator tops out in positive territory. As such, the analyst remarked that the coin had a lot of room to run back then. Since then, the price has experienced a recovery rally, potentially suggesting that the bullish divergence may be paying off. As Woo pointed out, the indicator has returned to the neutral mark after this run. Based on the fact that tops in the past have occurred after the metric peaks in the positive territory and based on the scale of these peaks usually, the analyst concludes, “this Bitcoin move is now at the halfway mark.” Related Reading: Bulls In Control: Ethereum Longs See Biggest Candle Ever After ETF News As for how things could play out next, the analyst says, Consolidation under all-time-high needs to happen for a little, then we see if the second leg gives us escape velocity to new highs which will open up the flood gates. Woo has also shared a “risk signal” for Bitcoin, which shows where the asset is when looking at the bigger picture. BTC may be in that part of the cycle where risk begins to drive up as price reacts violently to capital inflows. “That’s where most of the fast gains happen,” notes the analyst. BTC Price Bitcoin had recovered above $71,000 earlier in the day, but the asset appears to have seen a pullback since then, as it’s now back below $70,000. Featured image from Shutterstock.com, woocharts.com, chart from TradingView.com

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$35B Money Flows into Crypto Market in 3 Weeks: Bullish Signs?

Over $35 billion entered the crypto market in just three weeks. This shows signs of bullish momentum.

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Bitcoin Bulls Roar: Analysts Predict Surge To $82,000 Amid Bullish Pennant Formation

Renowned crypto analyst Jelle has caught the attention of the Bitcoin (BTC) community with his bold prediction of a target price of $82,000. Notably, despite recent challenges in breaking above the $66,000 mark, Bitcoin currently hovers around $67,780, showing resilience in the face of a short-term pullback. Related Reading: Bitcoin Insider Tip: Expert Signals Key Catalyst That Could Revive BTCs Rally BTC To $82,000 Soon? In an X post uploaded earlier today, crypto analyst Jelle shared his latest view on Bitcoin. According to the analyst, the Bitcoin target “remains the same: $82,000”. It is worth noting that Jelle’s forecast is based on his observation of a “bullish pennant” formation, a technical pattern that suggests a potential surge in the price of BTC. According to the analyst, the asset might experience some volatility this month. Jelle emphasized that a bullish pattern is forming, coinciding with the upcoming BTC halving in a few weeks. This adds credibility to the emerged bullish pennant formation and the possibility of Bitcoin reaching $82,000 shortly. #Bitcoin has formed a bullish pennant, right as we head into the halving event. Safe to say we’re in for some volatility this month. My next target remains the same: $82,000. pic.twitter.com/PgBIG1wluX Jelle (@CryptoJelleNL) April 4, 2024 Notably, the Halving is a pre-programmed event built into the Bitcoin protocol that occurs approximately every four years or after every 210,000 blocks are mined to reduce the reward for mining new Bitcoin blocks, ultimately decreasing the supply of new coins. Historically, the event has triggered bullish price movements, as reduced supply often leads to increased demand and speculative buying. The Bitcoin halving is currently less than 20 days away. Bitcoin Latest Price Action While BTC has faced challenges in its upward trajectory over the past week, recent movements suggest a shift in momentum. Within the last 24 hours alone, the asset has shown a promising 2.7% increase, rising from a low of $65,135 to its current trading price of $67,628. Despite this positive movement, BTC still reflects a decline of approximately 6.4% over the past 7 days. However, amid this fluctuation, analysts such as Captain Faibik foresee the potential for a significant rebound in Bitcoin’s value before April concludes. Captain Faibik’s analysis, mirroring the sentiments of fellow analyst Jelle, focuses on Bitcoin’s bullish pennant formation observed on the 12-hour timeframe chart. This formation suggests an imminent breakout towards the upside. Related Reading: Bitcoin Teeters On The Edge Of Glory: Will It Smash The $70,000 Resistance? If this breakout materializes successfully, BTC could soar to unprecedented levels, with projected price targets ranging from $88,000 to $90,000 by month’s end, according to Captain Faibik. $BTC Bullish pennant formation on the 12hrs timeframe Chart. Expecting upside Breakout later this Week. In Case of Successful Breakout, Bitcoin might hit the 88-90k this month.#Crypto #Bitcoin #BTC pic.twitter.com/TLsujGNSYj Captain Faibik (@CryptoFaibik) April 2, 2024 Featured image from Unsplash, Chart from TradingView

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Bitcoin Bull Flag Could Predict 10% Surge To $77,000, Analyst Explains

An analyst has explained that a breakout from a bull flag pattern could lead Bitcoin to surging towards a new all-time high of $77,000. Bitcoin Has Been Forming A Bull Flag Pattern Recently In a new post on X, analyst Ali has discussed about a bull flag recently forming in the 4-hour price of the cryptocurrency. The “bull flag” here refers to a pattern in technical analysis that, as its name implies, looks like a flag on a pole. In this pattern, a sharp uptrend is succeeded by a period of consolidation towards the downside. The uptrend makes up for the pole, while the consolidation period acts as the flag. Related Reading: Dogecoin Soars 17% To Break $0.21 As Volume Explodes When the price is trapped inside the flag, it tends to find resistance at its upper line, so tops may be probable to form there. Similarly, the lower line may act as support, thus facilitating for bottoms to take shape. The bull flag is usually considered to be a continuation pattern, meaning that the prevailing trend (that is, the trend of the flag) would continue once the consolidation period is over. This happens when a break above the resistance line takes place. The uptrend emerging out of such a break may be of the same height as the pole. If the asset falls under the support line, though, the pattern could be considered invalidated. Like the bull flag, there is also the bear flag pattern, which works similarly except for the fact that the pole in this case corresponds to a downtrend while the flag is generally a consolidation channel angled upwards. Just like the bull flag, a continuation of the prevailing bearish trend may follow this formation. Now, here is the chart shared by Ali that shows the bull flag that BTC’s 4-hour price has recently been consolidating inside: Looks like the price of the asset has been breaking out of this pattern recently | Source: @ali_charts on X From the graph, it’s visible that the 4-hour Bitcoin price has appeared to have been consolidating inside this bull flag over the last few days. It’s also apparent that, in the past day, BTC has been climbing above the resistance line of the pattern. This could mean that the cryptocurrency is preparing a break out of this formation. Naturally, the asset would have to show more momentum before the breakout can be confirmed. Related Reading: Bitcoin Liquid Inventory Ratio Hits All-Time Low, What It Means “If BTC holds above $70,000, we could see a surge of nearly 10% to a new all-time high of $77,000!” says Ali. The analyst has chosen this target as such a swing would be of the same length as the pole that had preceded this flag. BTC Price Bitcoin has so far been heading in a direction that would add more credence to the breakout, as its price has now broken past the $71,300 level. With this surge, BTC investors would be enjoying profits of more than 7% over the past week. The price of the asset appears to have surged over the past 24 hours | Source: BTCUSD on TradingView Featured image from Shutterstock.com, charts from TradingView.com

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Crypto Market Rises by $30B in 48 Hours — Bitcoin Cash Leads With 88% Weekly Gain

On Sunday, June 25, the cryptocurrency market experienced a modest increase in value, climbing from $1.21 trillion two days prior to its current value of $1.24 trillion. Bitcoin has surged 15% in the past week, while ethereum has risen over 10% against the U.S. dollar. Furthermore, numerous other crypto assets have made notable gains, with [...]

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Bitcoin Flies Above $47,300, But Watch Out For Extreme Greed

Bitcoin is finally showing a sustained bullish push as it has now broken above $47,300, but overly positive sentiment can be an obstacle to this rally. Bitcoin Fear & Greed Index Suggests Market Is Nearing Extreme Greed The “Fear & Greed Index” is an indicator that tells us about the general sentiment among the investors in the Bitcoin and wider cryptocurrency sector. According to Alternative, its creator, the index takes into account five factors to calculate this sentiment. These are volatility, market volume, social media sentiment, market cap dominance, and Google Trends. The index outputs the sentiment as a number lying between zero to hundred. Related Reading: Ethereum Breaks Above $2,400: This Metric Points To Further Upside All values of 46 and under imply the investors are fearful, while those of 54 or over suggest the presence of greed in the market. The region between 47 and 53 corresponds to the region of neutral sentiment. Now, here is what the Fear & Greed Index looks like for Bitcoin right now to see which of these regions the market stands in at present: The current value of the sentiment according to this index | Source: Alternative As is visible above, the Bitcoin Fear & Greed Index has a value of 72 at the moment, implying that the majority of the investors in the space share a greedy mentality. Besides the three core sentiments mentioned earlier, there are also two extreme ones: the extreme fear and extreme greed. The former of these occurs at values of 25 and under, while the latter takes place at 75 and above. Historically, these two sentiments, in particular, have held great significance for the cryptocurrency’s trajectory. Generally, at any point, the asset is more likely to move against the expectations of the majority, and in these extreme regions, this expectation becomes the strongest. As such, these sentiments have been where major reversals in the asset have been the most likely to occur. Followers of a trading philosophy called “contrarian investing” exploit this fact to time their buying and selling moves. Warren Buffet‘s famous quote sums up the idea, “Be fearful when others are greedy, and greedy when others are fearful.” At a value of 72, the Bitcoin market is quite close to entering into the extreme greed region right now. Just yesterday, the metric had a value of 66, which means there has been some jump in just the past 24 hours. Looks like the value of the metric has shot up over the past day | Source: Alternative This increase in the index has naturally come because of the bullish momentum that the asset has enjoyed in the past day. Any further improvements in sentiment, however, may be alarming, as the metric would then enter into the extreme greed territory. The last time that the Bitcoin Fear & Greed Index surged into extreme greed values was around the time of the approval of the spot exchange-traded funds (ETFs). As it happened, the coin hit its top, coinciding with this overly bullish mentality. Related Reading: Analyst Reveals Potential Trigger For A 32% Cardano (ADA) Rally Thus, if this precedence is anything to go by, any visit into the territory in the coming days may serve as a warning that a top is near for the cryptocurrency. BTC Price Bitcoin has enjoyed an uplift of over 6% during the past 24 hours as its price has cleared the $47,300 level. The price of the coin appears to have been going up over the last couple of days | Source: BTCUSD on TradingView Featured image from Michael Förtsch on Unsplash.com, charts from TradingView.com, Alternative.me

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