Bitcoin is at a turning point that could shape its price for the rest of the year. After a dip to $56,000, it’s back above $60,000. Analysts Predict a Surge Some experts believe the Bitcoin bull run is just getting started. They expect it to rise above $74,000 soon. Impulse Waves Signal a Big Jump…
Relative Strength Jumps Crypto research firm 10x Research reports that Bitcoin’s Relative Strength has jumped to 40%. This has historically indicated potential rallies for Bitcoin. Bullish Sentiment Despite a recent decline, Bitcoin has broken above the $62,000 resistance level, suggesting ongoing bullish sentiment. Catalyst Needed for Rally 10x Research highlights that Bitcoin needs a catalyst…
Arthur Hayes, the co-founder of BitMEX, has shared his insights on Bitcoin’s recent price movements. Local Bottom Reached Hayes believes Bitcoin has found a local bottom at around $58,600. He predicts it won’t fall below this level again soon. Range-Bound Action Ahead Hayes forecasts that Bitcoin will rally above $60,000 and then trade between $60,000…
Bitcoin has made a strong comeback, rising above $63,000 after a week of bearish pressure. But will this rally last? Sentiment Shift and FOMO Analysts at Santiment report a shift in sentiment among investors. Traders are moving from short positions to long positions, indicating renewed optimism. However, they warn against excessive FOMO (fear of missing…
Quantitative Easing Boost Crypto expert Michaël van de Poppe believes Bitcoin is poised for a surge due to upcoming macroeconomic factors. He anticipates the Federal Reserve (Fed) will soon implement Quantitative Easing (QE), which involves buying back government bonds and increasing liquidity in the financial system. This move is expected to lower interest rates and…
Standard Chartered Bank, a major international bank, has issued a warning that Bitcoin’s price could plummet further, potentially reaching $50,000. Factors Contributing to the Decline Macroeconomic factors: Rising inflation and the Federal Reserve’s decision to keep interest rates unchanged are putting pressure on Bitcoin. Crypto-specific factors: Reduced liquidity in the US and outflows from Bitcoin…
Bitcoin Triggering Market Anxiety Cryptocurrency analyst MilkyBull predicts that the Bitcoin price will continue to decline before it rebounds. He believes that the current price drop has caused outflows from Blackrock iShares Bitcoin Trust, a sign of fear in the market. MilkyBull also notes that historically, negative news often precedes a Bitcoin market bottom. Technical…
Price Drop Sparks Liquidations Bitcoin’s recent dip below $59,000 sent shockwaves through the market. This triggered $120 million in liquidations of futures contracts that bet on a price increase. Not a Mass Exodus Unlike previous selloffs, this liquidation doesn’t indicate a panicked sell-off. Investors are taking a measured approach, suggesting a short-term correction rather than…
The recent market crash has left Bitcoin hovering below $60,000, exposing several crucial support levels. Crypto analyst Norok has identified $51,800 as the key level Bitcoin must hold to maintain its bullish trend. Support and Resistance Norok notes that Bitcoin has fallen below its previous support level of $62,000, which has now become a resistance…
Market Sentiment and Bitcoin’s Resemblance to 2016 Despite dwindling market sentiments, cryptocurrency analyst Rekt Capital has noticed striking similarities between the current Bitcoin price action and the 2016 bull cycle. Post-Halving Price Decline Similar to 2016, Bitcoin has experienced further declines in the three weeks following the Halving, falling below the Range Low of its…
