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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 […]
Ethereum, the second-largest cryptocurrency by market cap, has recently shown signs of a shifting market sentiment and momentum, according to an analysis by a CryptoQuant analyst named Percival. The analyst disclosed that various market conditions and technological developments have impacted Ethereum’s momentum and have led to mixed views on its future growth trajectory. Related Reading: Ethereum Price Trims Gains: Is the Rally Losing Steam? Ethereum’s Market Sees Shift Percival, highlighted that Ethereum has faced a decline in activity due to the rise of other blockchains with greater accessibility, more advanced technology, and faster update cycles. According to the analyst, “the positive Momentum sentiment is far below expectations.” So far, the open interest in Ethereum futuresa measure of capital flowing into derivative contractsreached $9.2 billion, with a notable inflow of $2.12 billion in August 2024. This represents a 30% rise but pales compared to the $6 billion inflow observed between April and May, reflecting only half of that previous momentum. Another major observation of the analysis was the Coinbase Premium Gap, indicating the differential between the price of Ethereum on Coinbase and other global exchanges. A slowdown in selling pressure from US-based investors suggests a possible positive shift in market sentiment. However, the market is still waiting for a significant influx of capital to drive a strong rally for Ethereum. The analyst pointed out that any future price recovery would depend on substantial investment inflows, which have yet to materialize. Furthermore, after the Federal Open Market Committee’s (FOMC) announcements, Ethereums gas fees surged, hinting at a possible shift of capital from traditional treasuries into decentralized finance (DeFi). The analyst mentioned an instance: the DeFi lending platform Aave, which operates on the ETH network, has seen a moderate rise in fee collection, from $42 million in March to $43 million in August. Ethereum Network Lags Behind While Percival noted that from an economic perspective, Ethereum needs to revert to its max fee pass gas mean, aligning its growth with its intrinsic value, the analyst also suggests that Ethereum currently faces several internal gaps. Although the technology ecosystem around Ethereum is expanding, the network seems to be lagging behind the competition, according to Percival. The CryptoQuant analyst reveals that this disconnect between Ethereums capabilities and its technological rivals has led to a significant shortfall in investment. Moreover, the limited inflow of small capital and lack of consistent use suggest that even minor investments are not being sustained over time. Related Reading: Ethereum Taker Buy/Sell Ratio Is Rising Again What It Means For ETH Price The analyst’s take is further validated by the fact that Ethereum’s network has faced increased competition from alternative blockchains like Solana, Binance Smart Chain, and others that boast higher transaction speeds and lower fees. This has, to some extent, diverted attention and investment from Ethereum to these newer ecosystems. Featured image created with DALL-E, Chart from TradingView
NFT transactions dropped 32% from 7.3 million in August to 4.9 million in September.
In this MANTRA (OM) price prediction 2024, 2025-2030, we will analyze the price patterns of OM by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency. TABLE OF CONTENTS INTRODUCTION MANTRA (OM) Current Market Status What is MANTRA (OM)? MANTRA (OM)) 24H Technicals MANTRA (OM)
Solana (SOL) broke above a key resistance level on Friday, fueling the bullish sentiment that reignited over a week ago. As a result, some analysts think the fifth-largest cryptocurrency by market capitalization could be about to see a massive bull run as Uptober approaches. Related Reading: Ethereum: Analyst Sets $2,820 As ETHs Next Key Level to Watch, Heres Why Solana Retests $160 Resistance Solanas rally started last week following the market surge driven by the US Federal Reserves rate cuts. The jump pushed the cryptocurrencys price above the $140 resistance level, successfully turning it into support. SOL had failed to break above this key level throughout the past month, consolidating between the $130-$139 price range. This performance alarmed many investors and market watchers, who considered the cryptocurrency was in danger of facing a massive correction. Since the bullish catalyst, Solana has seen a 23% surge, breaking above the $150 barrier this week. Some analysts asserted that reclaiming this mark would propel the price toward the next key resistance level. On Friday, Solana broke above the crucial resistance level for the first time in a month, hitting $160 for the first time since late August. As of this writing, SOL reached a daily high of $160.68, momentarily holding the above the key level. This performance was seemingly fueled by the bullish vibes surrounding the early release from prison of Binances founder Changpeng Zhao (CZ). The expectation of his release further inspired a bullish market sentiment among investors, driving SOLs 4% jump in an hour and Bitcoins price to $66,000. Is SOL Price About To “Go Insane”? Analyst Crypto Horn Harris noted Solanas price action on the weekly chart, claiming it looks nothing short of insane right now. He underscored that SOL retested the Relative Strength Index (RSI) properly while doing a perfect reset of the 50-day Moving Average (MA). To the analyst, this performance hints that the cryptocurrency will challenge the cycles high above $200 and move to higher targets soon. WiseAnalyze claimed that SOLs price is still very low, suggesting that investors still can jump on that trend. The trader set his target for the cycles final breakout at $400, but it might grow higher. However, he didnt rule out the possibility of another rejection, with a pullback to the $108-$120 support zones. Similarly, Matthew Dixon also forecasted a retrace for Solana. The analyst believes a pullback is due, as multiple indicators suggest the correction. However, the jury is out on the scope of the decline. Dixon stated that SOLs price targets will depend on whether the price action from the low is in the form ABC Or 123. But either way, the retrace is likely. Related Reading: Memecoin Sensation Popcat Hits New All-Time High After Surge To $1 Crypto analyst Byzantine General considers SOLs chart to look pretty crazy. The trader highlighted that Solana appears to be printing an Adam and Eve (A&E) double-bottom pattern, with the confirmation line around the $160 price range. Based on this, Solanas price could go really nuts, as it has the potential for a breakout toward the $200 resistance level if it successfully reclaims the key support level. Featured Image from Unsplash.com, Chart from TradingView.com
Veteran commodity trader Peter Brandt recently drew attention to Dogecoin (DOGE), the largest meme-based cryptocurrency by market capitalization, suggesting a potential bullish breakout. Brandt shared a DOGE/USDT chart in a post on X, pointing to a breakout DOGE has recently achieved from a descending channel that the asset has been stuck in for over half a year. Related Reading: Dogecoin Eyes Bullish 50% Rally To $0.16, But Will A Crash Come First? Identified Bullish Momentum in Dogecoin The chart shared by Brandt further reveals that DOGE, which had previously been trading within a horizontal channel for roughly two years between July 2022 and July 2024, experienced fluctuations between a lower trend line of $0.05 and an upper level of $0.1181. DOGE peaked at $0.2100 in March before entering its descending pattern. Now, signs indicate that DOGE might be breaking free from this downward trend. Brandt emphasized that the longer-term chart for DOGE could be considered “constructive,” supporting his analysis with the encouraging message, Get along little doggie. So far, DOGE has been riding the positive wave seen in the broader crypto market. The asset’s price climbed 8.2% in the past 24 hours, trading at around $0.1235. While this upward trend aligns with the market’s general bullish sentiment, Brandts technical analysis suggests that DOGEs breakout could signal the beginning of a more sustained upward movement. Other Bullish Indicators for DOGE’s Momentum Peter Brandt’s observation is not the only bullish sentiment surrounding Dogecoin. Another prominent crypto analyst, Ali, recently noted that DOGE appears to be showing strength. In an X post uploaded on September 26, Ali pointed out that DOGE has experienced a Relative Strength Index (RSI) and price breakout from multi-month downtrends. Furthermore, the asset has received a buy signal from the SuperTrend indicator. These developments indicate that momentum is potentially shifting toward the meme-based cryptocurrency. Before DOGEs surge above $0.12 today, Ali had set specific conditions for a full-fledged bullish rally for the asset. These conditions included breaking the descending trendline of RSI on the daily chart and pushing past a resistance level of $0.11. #Dogecoin is gearing up for a bullish breakout! Watch for two key signals: First, RSI breaking the descending trendline on the daily chart. And second, $DOGE surging past the $0.11 resistance! pic.twitter.com/7i1QMXNi3F Ali (@ali_charts) September 19, 2024 With DOGE successfully achieving both conditions, the analyst’s sentiment has grown increasingly positive about the possibility of an extended rally. Related Reading: Dogecoin Wins Over Major Demand Zone: Path To $0.15 Now Clear? DOGE’s ability to break key technical levels provides a favorable outlook for further price appreciation, indicating that the current rally might not be just a short-term burst. Featured image created with DALL-E, Chart from TradingView
Bitcoin has surged past $65,000, boosted by Chinas stimulus measures and stablecoin inflows.
Celestia tokens worth $1.1 billion will be unlocked on Oct. 31, while $300 million in Cheelee tokens will be released on Oct. 10.
Bitcoin price movements and market sentiment have often been tied to the positions held by traders across the board. Regarding that, an insight shared by CryptoQuant analyst Amr Taha sheds light on the potential significance of Bitcoin’s long/short liquidation delta, hinting at a shift in market stance. This indicator, according to the shared insight provides [...]
The post Bitcoins Liquidation Data Signals a Possible Trend ReversalHeres Why appeared first on Crypto Breaking News.
In this Catizen (CATI) price prediction 2024, 2025-2030, we will analyze the price patterns of CATI by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency. TABLE OF CONTENTS INTRODUCTION Catizen (CATI) Current Market Status What is Catizen (CATI)? Catizen (CATI) 24H Technicals CATIZEN (CATI)
Dogecoin (DOGE) is showing positive momentum as it recovers from recent lows, with a significant price surge of over 10% in the past 24 hours. After hitting a low of $0.1135, it climbed to a high of $0.1248. This marks a notable shift after months of consolidation, as DOGE has
Following the markets recent pump, the leading cryptocurrencies have seen a remarkable performance. Bitcoin is trading above the $64,000 mark, while Ethereum (ETH) has surged 9% in the last week to consolidate above a key support level. Despite the bullish sentiment, some crypto investors remain cautious about ETHs performance as the second-largest cryptocurrency faces the next crucial resistance level. Related Reading: Memecoin Sensation Popcat Hits New All-Time High After Surge To $1 Ethereum Consolidates Above $2,600 Ethereum recorded a 13% price jump in the last seven days after the US Federal Reserve (Fed) announced its decision to cut the interest rate by 50 basis points (bps). The bullish momentum propelled the ETHs price to ranges not seen in a month, triggering a positive sentiment among many investors. Over the weekend, the King of Altcoins surged from the $2,300 support zone to the $2,500 mark before reclaiming the $2,600 resistance level as the week started. Since then, the cryptocurrency has hovered between the $2,600-$2,684 price range, momentarily dropping below the key support level on Wednesday afternoon. Nonetheless, Ethereum has faced resistance today after recovering from the recent drop to $2,500. Market analyst Crypto Yapper noted that ETH had been running into critical resistance on the Daily chart, as it had been unable to break successfully above the $2,650 mark since Tuesday. This performance worried some investors, who considered that not breaking above this level could hinder the cryptocurrencys run and send the price toward the previous support zones. However, Ethereums price jumped 1% in the last hour to trade above $2,650. As of this writing, ETH exchnges hands at $2,660, recording a 2.1% and 9.3% price increase in the daily and weekly timeframes. ETH To Reach New Highs In October? Crypto Trader Daan highlighted that Ethereums price made a higher low (HL) but has not been able to make a higher high (HH) yet. The trader noted that an HH would occur above the $2,820 mark, which was lost over a month ago, and it would signify a trend reversal for the cryptocurrency. This level corresponds with the horizontal level that kickstarted the February-March run to $4,090 after the breakout. Additionally, it coincides with the Daily 200 Exponential Moving Average (EMA) around that area, which makes it an important level to watch. A breakout above this mark could further propel ETHs price toward the $3,000 resistance level. Julien Bittel, Head of Macro Research at Global Macro Investor (GMI), noted that Ethereums chart is looking a lot like a 2023 redux. Related Reading: Cardano (ADA) Reclaims Top 10 Crypto Spot, Analysts Set New Targets Per the Chart, the cryptocurrencys current market structure resembles its 2023 movements very closely. A repeat of ETHs previous bullish trajectory suggests that ETHs price is about to break out and hit a new all-time high (ATH) mid to late October. Additionally, the chart shows that if it follows the same bullish trend, Ethereums price has the potential to reach somewhere between the $10,000 to $20,000 targets by Q1 2025, which would represent a 669% surge from its current price and a 300% jump from its ATH. Featured Image from Unsplash.com, Chart from TradingView.com
Ethereum, the second-largest cryptocurrency by market capitalization, is signaling a potential price recovery based on recent data from its perpetual futures market. According to a CryptoQuant analyst named Shayan, Ethereums futures market has noticed a notable shift that could indicate an upcoming price surge. The key to this analysis lies in the 30-day moving average [...]
The post Ethereums Futures Market Points To Potential BreakoutHeres What You Need To Know appeared first on Crypto Breaking News.
The crypto-friendly country of Dubai is stepping up its approach to marketing virtual asset investments as the citys crypto sector continues to grow. Dubais Virtual Asset Regulatory Authority (VARA) has announced new marketing regulations that will take effect on October 1, 2024. This initiative marks the UAE’s first significant move
The Bitcoin community have been eagerly awaiting the start of a new bull market especially following the recent halving that occurred in April, however, according to a latest analysis from a CryptoQuant analyst under the pseudonym Onchained, that moment has not yet arrived and there is a reason. In the post uploaded on the CryptoQuant QuickTake platform, Onchained’s analysis focused on the Long-Term Holder (LTH) Mourad Ratio, a proprietary indicator that tracks UTXOs (unspent transaction outputs) held for more than six months. This ratio basically helps gauge market sentiment and accumulation trends among long-term Bitcoin holders, offering valuable insights into when BTC may enter its next bull phase. Related Reading: Bitcoin Held For Years Are Now On The Move, Is This A Signal For Caution? Stability In The Long-Term Holder Mourad Ratio One of the key indicators highlighted in the analysis is the stability of the Long-Term Holder Mourad Ratio. Historically, when this ratio remains stable, it suggests that the market is not yet ready for a significant upward movement. Onchained explained that a bull market typically begins only when the ratio starts to deviate negatively from these stable levels. Currently, data shows that the LTH Mourad Ratio is steady, signaling that Bitcoins bull run is yet to begin. This stableness in the ratio as revealed by the analyst, indicates that long-term holders are not yet driving substantial price movement in the market, and investors may need to exercise patience until more favourable conditions arise. For further context, the Mourad Ratio is calculated by dividing the Long-Term Holder Mourad Current Transaction Value (LTH MCTV) by the current Bitcoin price. This calculation provides insight into the average value of UTXOs aged over six months, giving a clearer picture of recent accumulation trends among longer-term BTC holders. Technicals Suggests Bitcoin Bull Run Is Not So Far While Onchained analysis has confirmed that Bitcoin bull run is yet to start, other analysts has turned to historical price chart to gauge when the bull run for BTC could begin from a technical perspective. Popular Bitcoin insight platform known as Bitcoin archive on X has recently highlighted that BTC is on the verge of making a “bullish cross-over on the 5-day chart for the first time in 230 days.” Related Reading: Analyst Warns Of Short Squeeze as Bitcoin Futures Market Heats Up According to Bitcoin Archive, the last two times this happened, BTC went up by 79% and 74%, therefore, should this repeat itself again, Bitcoin could surge past $100,000. Bitcoin MACD about to make a bullish cross-over on the 5-day chart for the first time in 230 days. Last 2x Bitcoin went up 79% and 74%. #Bitcoin will surge OVER $100K if this repeated. pic.twitter.com/USTaCzHD44 Bitcoin Archive (@BTC_Archive) September 25, 2024 Featured image created with DALL-E, Chart from TradingView
Popcat, the latest Solana-based memecoin sensation, has crowned itself as one of the best-performing cryptocurrencies in the market. The memecoin has stolen the spotlight following its 117% surge throughout Q3, outperforming other well-established tokens in the sector. The feline sensation has now consolidated as the first cat-themed memecoin to hit a $1 billion market capitalization, leading the markets bullish run alongside tokens like Sei (SEI) and Worldcoin (WLD). Related Reading: Bitcoin (BTC) On Track For Strongest September Performance, Is $90,000 Next? POPCAT Hits $1 Billion Market Cap Status Memecoins became the leading sector during this cycle, with many tokens outperforming most altcoins over the last few months. At the front of the frenzy, dog-themed tokens like dogwifhat (WIF) stole the spotlight during Q1 and Q2. However, a feline rival is challenging its spot as Solanas best-performing memecoin. Investors and market watchers have praised the cat-themed sensations performance over the past few months. Throughout Q3s violent market retraces, POPCAT showed a remarkable performance, becoming the largest gainer among the top 100 cryptocurrencies several times. The memecoins price quickly bounced from its 55% pullbacks during the market crashes, recovering and surpassing its previous level each time. POPCATs price has seen a 117% surge in the past three months, driving its price from the $0.68 mark to a new all-time high (ATH). In the late hours of Tuesday, the cryptocurrency broke above the $0.97 resistance level set by its previous ATH. The memecoin continued its 21% jump towards the $1.08 level, its new ATH, before retracing to the $1.01-$1.02 price range. The surge propelled POPCATs market capitalization to the $1 billion mark, cementing its status as the leading cat-themed token and making it the first memecoin in this sector to achieve it. Following its remarkable rise, the token registers a 57.8% and 40.2% surge in the weekly and monthly timeframes. Its daily market activity also saw an 82% jump to a trading daily volume of $133.3 million in the last 24 hours. Investors See Further Price Potential Some crypto whales loaded their bags as POPCAT broke the $1 barrier. On Wednesday morning, on-chain data analytics firm Lookonchain revealed that a crypto investor recently repurchased the cat-themed sensation, suggesting that some investors feel positive about the tokens future performance. Per the post, the whale spent 8,644 SOL, worth around $1.29 million, to buy 1.3 million POPCAT over the past two days. The address bought 456,000 tokens on Monday before acquiring another 843,000 POPCAT when the memecoin hit $1. This whale had previously sold its POPCAT holding at a 45% loss over two months ago. The investor saw $611,000 in losses from selling its 1.69 million tokens. However, before the long-awaited surge to $1, crypto investor Trade4ddict noted that the POPCATs consolidation under the key resistance level was a strong sign for its potential bull continuation. Related Reading: Cardano (ADA) Reclaims Top 10 Crypto Spot, Analysts Set New Targets The trader considers that after blowing off the $1 resistance, the memecoin has good chances of pumping toward the $2 target. He also suggested that the previous high at $0.8 should offer some support before a potential correction. As of this writing, the memecoin continues to hold the $1 support level, exchanging hands for $1.01. Featured Image from Unsplash.com, Chart from TradingView.com
Recently, a significant movement of older Bitcoin holdings has been observed on the network, sparking discussions about potential selling pressure in the market. This activity, as shown in data by the on-chain analytics platform CryptoQuant, has led to analysts advising “extreme caution” in the face of this development. Related Reading: Uptober Is Just Around The Corner: Heres Where Bitcoin Price Is Headed Old Bitcoin On The Move: A Signal for Caution? A CryptoQuant analyst under the pseudonym XBTManager noted that Bitcoins upward trend has been accompanied by increased activity on the network, particularly from wallets that have held Bitcoin for extended periods. The question now is whether this movement will lead to a broader market reaction. Old Bitcoins are on the move Overall, we are seeing a significant increase in the movement of coins from various age bands during this latest leg of the rise, with continuous transfers happening on the #Bitcoin network. By @XBTManager Full post https://t.co/LR0bvdvAOY pic.twitter.com/sUe6yqp4Xj CryptoQuant.com (@cryptoquant_com) September 24, 2024 XBTManager detailed these movements, noting several significant transfers of old Bitcoin in recent days. For example, on September 18, over 21,000 Bitcoin were moved from wallets that had held the cryptocurrency for periods ranging from one week to three years. Similar patterns were observed on the following days, with over 29,000 BTC, held for six to twelve months, being moved on September 23 alone. The analyst emphasized the importance of monitoring where these BTCs are headedwhether they are being transferred to exchanges, which could suggest an impending sell-off. The increased movement of old Bitcoin raises concerns about potential selling pressure in the market. As XBTManager pointed out, the large-scale transfer of Bitcoin from wallets that have held onto the asset for months or even years could slow down Bitcoins current upward momentum. “As more transfers occur on the network, Bitcoin’s upward momentum begins to slow down. Extreme caution is advised,” the analyst noted. Related Reading: Analyst Who Predicted The Bitcoin Rally Reveals Time To Sell Potential Selling Pressure on The Horizon? Another CryptoQuant analyst, BaroVirtual, has echoed the sentiment of caution. BaroVirtual highlighted a recent decline in institutional short positions, which may not necessarily be a positive signal for the market. According to the analyst, while the reduction of short positions might offer some short-term relief, the analyst expressed concern over the long-term implications, noting: I don’t quite agree that this is a positive signal if institutional investors are no longer aggressively shorting Bitcoin. Perhaps this is good for the short term so the market can take a breath. However, the build-up of short positions is needed in the long term to fuel Bitcoin’s growth. Featured image created with DALL-E, Chart from TradingView
Cardano (ADA) has seen a remarkable performance over the week, surging over 10% and reentering the top ten cryptocurrencies by market capitalization list. Its recent price action has fueled a bullish sentiment among investors and market watchers, who believe the token might be near a rally toward $1. Related Reading: BNB Falters At $600, Paving The Way For A Deeper Pullback Cardano Breaks Out To Reclaim Top 10 Spot Cardanos price has steadily declined after the March highs, registering a 42% drop in the last six months. During the Q1 rally, the token hit its highest price since 2022, reaching the $0.774 price range. Since then, ADA has nosedived to pre-rally levels, disappointing some investors and market watchers. The crypto community has repeatedly slammed the project for a lack of appeal to the broader public. Additionally, many have criticized ADAs underwhelming price action. However, the tokens recent rally has sparked a bullish sentiment among some community members. Despite the early September market shakeouts, the cryptocurrency has registered a 10% surge from its monthly opening, seeing green numbers in the weekly and biweekly timeframes. Technical analyst Crypto Yapper noted Cardanos recent performance. The analyst highlighted that ADA displayed a multi-month descending broadening wedge structure on its chart with multiple touch points on the top side and on the lower side. Inside this structure, the cryptocurrency displayed a smaller falling wedge pattern with its upper trendline being tested again on Monday. The analyst stated that the $0.35 was the first crucial resistance level for the token. Claiming this key zone and breaking out of the falling wedge pattern could create more bullish action and move the price toward the upper line of the bigger bullish structure. On Monday, Cardanos token reclaimed the $0.36 range, a level not seen in nearly a month. The surge sent ADAs price toward the $0.37 resistance level, turning the $0.375 price range into a support zone on Tuesday morning. The recent performance also pushed Cardano back to the top ten cryptocurrencies list after ADAs market capitalization surged 6%, surpassing Tron (TRX) in the last 24 hours. Analysts See New Price Targets For ADA Today, Crypto Yapper noted that ADA broke above resistance as the cryptocurrency was creating a higher high on the daily chart. This performance indicates a huge trend reversal for Cardano. However, he pointed out that to break above the descending broadening wedge, the token must reclaim its second key resistance level at $0.39. If successful, the breakout could target the structures higher price range of $0.52. Related Reading: Bitcoin (BTC) On Track For Strongest September Performance, Is $90,000 Next? Other analysts also highlighted ADAs performance and breakout, suggesting that the cryptocurrency has the potential for a 170% surge. Dan Gambardello pointed out, “Cardano just went through a phenomenal throwback to a colossal triangle pattern. To the analyst, If crypto is about to enter a green October, I anticipate ADA will reclaim $1 with haste. ADA is trading at $0.378, a 6.2% and 12.2% surge in the daily and weekly timeframes. Featured Image from Unsplash.com, Chart from TradingView.com
Bitcoin (BTC), the largest cryptocurrency by market capitalization, has led the market recovery with its surge to the $63,000 mark. Following the recent developments, the flagship cryptocurrencys performance has seen an 8% weekly surge, driving BTC to one of its best September performances since its creation. Related Reading: Polygon (MATIC) To Come back From The Dead As Ascending Triangle Appears Bitcoin Registers Sixth Green Daily Candle During the first week of the month, Bitcoin saw its price struggle to keep above the $55,000 mark, plummeting to the $52,000 support zone and raising investors alarms. The rest of the sector followed BTCs lead, dropping 12% to a market capitalization of $1.81 trillion earlier this month. Since then, the market has seen a significant boost, mostly fueled by the US Federal Reserves (Fed) rate cut. Following the Feds announcement, the sector recovered 5%, continuing its ascending trajectory throughout the weekend. Due to the positive market sentiment, crypto investment products ended the week with $321 million in inflows, the second weekly positive net flows in a row. The inflows were led by Bitcoin-based products, which registered $284 million last week, according to the CoinShares report. BTC, propelled also by Kamala Harris recent acknowledgment of the crypto industry, recovered 20% from the monthly lows of September 6. The rebound pushed the cryptocurrencys price toward the $64,000 resistance level, which was last held a month ago. After failing to reclaim the key resistance level, Bitcoins price has been hovering between the $63,000-$63,900 range throughout Monday morning, registering six green daily candles since September 17. Will BTC See Four Green Months In A Row? BTCs recent price action has translated into green numbers in the month-to-date (MTD) timeframe, making September a green month for the cryptocurrency. Coinglass data reveals that the flagship crypto displays a 7.94% return MTD. This performance was noted by some market watchers, who suggest that Bitcoin is on its way to registering its best September so far. In an X post, Crypto Jelle highlighted that BTC is currently on track for the strongest September performance in its history after its current MTD return surpassed that of September 2016. To the analyst, the flagship cryptocurrency is preparing for a promising performance next quarter. Jelle also pointed out that BTC has only closed September with green numbers three times. However, the times this has happened, the cryptocurrencys monthly returns have closed in the green for four months straight. This suggests that Bitcoin may be on the verge of a massive bull run for Q4. Close this month in the green, and the odds are high October, November and December will close green as well. He pointed out that this week will be decision time for the flagship cryptocurrency, as a higher high is within an arms reach. A push above the $65,000 resistance level would flip the narrative and see BTC moving to levels not seen since early August. Related Reading: Bitcoin Could Reach $108,000 To $155,000 By 2024 End, Analyst Reveals Why The cryptocurrencys chart displays a massive descending broadening wedge, which has the potential to hit $90,000 after a breakout. Ultimately, the analyst considers that Bitcoin wont trade within this pattern for much longer. As of this writing, the flagship trades at $63,700, a 1.7% and 10% surge in the daily and weekly timeframes. Featured Image from Unsplash.com, Chart from TradingView.com
The Celsius token skyrocketed 300% a month after the firm paid $2.5 billion to creditors, marking a strong rebound in the aftermath of its bankruptcy settlement.
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