The rollercoaster ride of Bitcoin continues, with a recent crash from its record high of over $73,000. This has sparked a wave of pessimism, leading many traders to bet against the cryptocurrency. However, these “bears” could be in for a rude awakening if Bitcoin rebounds. Bears Risk Losing $7.2 Billion Crypto analyst Ash Crypto shared…
Economist’s Warning Peter Schiff, a well-known Bitcoin critic, predicts a potential decline in Bitcoin’s price if it drops below $60,000. He believes that Bitcoin’s current position is not favorable for investors. Importance of Support Levels Schiff emphasizes the importance of Bitcoin holding above $60,000. If it fails to do so, he warns of a significant…
Funding Rate Dip: A Brief Bearish Blip After the recent Bitcoin halving, the funding rate briefly dipped into negative territory, indicating a bearish outlook. However, this dip was short-lived. Renewed Bullishness Following the halving, the funding rate quickly recovered and is now positive, suggesting a return to a bullish market sentiment. Increased Open Interest The…
Consolidation Phase Bitcoin has been consolidating recently, according to analyst Rekt Capital. This is similar to what happened before previous “Halvings” (when the supply of new Bitcoins is halved). “Parabolic Upside” Rekt Capital believes Bitcoin is preparing for a “parabolic upside,” a period of rapid price increase. He points to the fact that Bitcoin has…
After a rocky start, Bitcoin has rebounded and is now hovering around $66,000. Crypto analysts are predicting a bright future for the coin, with some suggesting it could hit $100,000 soon. Rally to $100,000 Captain Faibik, a crypto analyst, believes Bitcoin has found support at $60,000 and is now on its way back up. He…
Market Dynamics Despite the recent Bitcoin halving, the market remains positive. Bitfinex’s analysis shows: Increased Exchange Withdrawals: Investors are moving Bitcoin to cold storage, indicating anticipation of price increases. Strong Demand: New market participants are absorbing selling pressure, preventing a pre-halving price decline. ETF Inflows: Spot Bitcoin ETFs are seeing significant inflows, creating a supply-demand…
Key Drivers of Bitcoin’s Rally ETF Inflows: The surge in investment into Bitcoin ETFs in the US has been a major catalyst for price growth. Kendrick estimates that $50-$100 billion could flow into these ETFs as the market matures. Bitcoin Halving: The upcoming halving event, which reduces the number of new Bitcoins mined, will limit…
Surge in Demand On April 17th, the Brazilian stock exchange B3 launched Bitcoin futures trading. The response was overwhelming, with over 7,400 contracts traded on the first day. Growing Interest in Crypto Derivatives This high volume shows that Brazilian investors are eager for ways to invest in Bitcoin without buying it directly. Bitcoin futures provide…
Miners’ Bitcoin Holdings at 12-Year Low Before the recent halving event, Bitcoin’s price took a dive towards $60,000. On-chain data suggests that miners may have played a role in this price dip. Data shows that miners have been selling their Bitcoin holdings in the lead-up to the halving. As of now, miners’ collective BTC reserves…
Post-Halving Surge With the recent halving event, analysts predict a bull run for Bitcoin based on past trends. Crypto analyst ecoinometrics believes Bitcoin could reach six figures in the current cycle. Potential Price Range According to ecoinometrics, if Bitcoin follows similar growth patterns as previous cycles, it could trade between $140,000 and $4,500,000. This range…
