Bitcoin Bulls Gain Breathing Room As Long-Term Holder Activity Eases Glassnode

Bitcoin continues to dominate discussions, with its recent price movements drawing particular attention. As the asset struggles to reclaim its March all-time high of over $73,000, with recent attempts peaking above $71,000 earlier this week, the price has since receded to approximately $68,231 at the time of writing. This retracement marks a 7.3% drop from its [...]

The post Bitcoin Bulls Gain Breathing Room As Long-Term Holder Activity Eases Glassnode appeared first on Crypto Breaking News.

View Details

Bitcoin Analyst Says The BTC Leg Up Is Halfway: Next Stop $74,000?

Bitcoin is firm, recently trending above $71,200 and easing past local resistance levels, much to the delight of holders. However, the current leg up is just the beginning for Willy Woo, an on-chain analyst. Bitcoin Rally Getting Started: Analyst Taking to X, Woo, who has been maintaining a bullish outlook for the world’s most valuable coin, boldly asserts that the current Bitcoin rally is only halfway through its welcomed bullish journey.  Sharing a chart, the on-chain analyst notes that the Bitcoin VWAP oscillator just bottomed up from oversold territory and is now at the zero mark, which is midway. Though Woo is upbeat and expecting even more gains, the analyst didn’t specify when or at what level prices will peak. Related Reading: Shiba Inu Breaks Out Of Bull Flag Pattern-Like, Signaling Uptrend Even so, the analyst explained that a period of consolidation below the all-time high is necessary. Woo says this consolidation might allow users to accumulate before a “second leg” propels the Bitcoin to new heights. Looking at the Bitcoin daily chart, this “second leg” is expected to be a breakout moment that will lift the coin above March highs. At press time, Bitcoin is still in a bullish formation. The uptick above $68,000 and last week’s high were crucial for trend definition. Moreover, since the May 20 breakout bar is wide-ranging and has a high trading volume, the odds of trend continuation are high. If bulls follow through, confirming May 20 gains, BTC will likely break $73,800, aligning with Woo’s forecast. BTC Bull Run To Last 300 Days If There Is No Black Swan Event Besides Woo, another analyst says the Bitcoin uptrend is in full swing. Sharing a chart, the trader said that barring any unforeseen disruptions, such as the impact of a major exchange going bankrupt, it is highly likely that the current bull run will extend for another 300 days.  This prediction is based on profit and loss analysis of short-term holders (STHs) with a 90-day moving average. Currently, the STH is moving lower but is relatively higher. Analysts use the STH to determine market sentiment from short-term price movements and trader speculations. Related Reading: Why Is The Ethereum Price Up 20% Today? As sentiment improves and prices recover, the pace at which the coin edges higher will depend on external factors. Besides the impact of the United States Federal Reserve and their monetary policy declaration, inflow to spot Bitcoin exchange-traded funds (ETFs) will be crucial. After a lull, demand is picking up, helping to propel bulls. Feature image from DALLE, chart from TradingView

View Details

Are The Odds In Bitcoin Bulls Favor? These Analysts Forecast BTCs Future

As the Bitcoin (BTC) “Halving” approaches, expectations increase about how the flagship cryptocurrency will perform. Bitcoin (BTC) is recovering momentum after facing a significant correction in the first few days of Q2, and some analysts are forecasting new heights for the number one cryptocurrency soon. Related Reading: Beyond Halving: Expert Predicts Bitcoin To Soar Above $200,000 With Surprising Catalyst Are The Odds In The Bulls Or Bears Favor? Bitcoin had its best quarterly close during Q1, 2024. Despite BTCs stellar performance, as Q2 started, the market was dragged by the leading cryptocurrencys price correction. Since then, Bitcoin has been steadily recovering, testing the $70,000 resistance level over the weekend. As the week started, BTC appeared to have regained support above the $70,000 level. Crypto analyst Ali Martinez seems to think that Bitcoins performance so far reflects a positive sentiment from investors. In an X post, Martinez shared a chart that paints an optimistic picture, at least for now. When you compare support (1.4 million addresses holding 893,000 $BTC between $68,220 and $70,325) with resistance (474,000 addresses holding 285,000 #BTC between $70,760 and $71,200), the odds appear to favor the #Bitcoin bulls! pic.twitter.com/pceCyGa8mb — Ali (@ali_charts) April 9, 2024 According to Martinezs post, the In/Out of the Money Around Price (IOMAP) indicator seems favorable to the bulls. Per the chart, the addresses holding BTC at the support level massively outnumber those holding Bitcoin at the resistance level. The chart suggests that Bitcoin is at stable support as 474,000 addresses hold 285,000 BTC between $70,760 and $71,200. Meanwhile, 1.4 million addresses hold the flagship cryptocurrency between $68,220 and $70,325. When compared, the addresses and BTC held at the support level nearly triple those in the resistance zone. To the analyst, bulls are the current victors as odds appear to favor them. Analyst Forecast Bitcoin To 90,000 Soon Captain Faibik, another crypto analyst, also seems to perceive more bullish momentum for Bitcoin. In an X post, the analyst suggests that BTCs bullish pennant upside break is confirmed on the daily chart. Per the chart, the flagship cryptocurrencys price started a consolidation period in early March, forming a pennant pattern. This pattern saw an upside breakout after Mondays daily candle closed above the $70,000 price range. Due to this breakout, the analyst forecasts a surge to the $88,000-$90,000 price range this month. $BTC Bullish Pennant Upside Breakout is Confirmed on the Daily timeframe Chart.. Now, Send Bitcoin to the 88-90k this Month. #Crypto #BTC #Bitcoin pic.twitter.com/ok2DGPXsAb — Captain Faibik (@CryptoFaibik) April 9, 2024   At the time of writing, Bitcoin remains above the $70,000 support level, only 5% below its most recent all-time high (ATH) price of $73,373. Despite the positive resistance, BTCs price performance shows a slight decrease of 2.3% from yesterday. Similarly, its daily trading volume and market capitalization have mildly dropped. According to CoinMarketCap data, BTCs daily trading volume is down by 6%, while its market cap of $1.38 trillion represents a 2.1% decrease. Nonetheless, Bitcoin remains 8.4% above its price seven days ago, trading at $70,378. Further bullish sentiment, fueled by the upcoming “Halving” event, could help the largest cryptocurrency by market capitalization consolidate its support above the current levels. Related Reading: Crypto Expert Reveals What To Expect For Bitcoin, Dogecoin, And XRP In 12-16 Months Bitcoin sits above the $70,000 support level in the 1-day chart. Source: BTCUSDT on Tradingview  Featured Image from Unsplash.com, Chart from TradingView.com

View Details

Bitcoin Under Pressure But Whales Hold Over $331 Billion Of BTC: A Sign To Buy?

While Bitcoin prices struggle for momentum and are caged inside a narrow range, on-chain data tells a different story. Taking to X, one analyst notes that whales, which are large crypto holders, are actively accumulating the world’s largest coin by market cap.  Bitcoin Whales Accumulating Despite Weakness By the time this data was shared, Bitcoin whales held over 5.1 million BTC worth a staggering $331 billion. That there is still demand when the coin moves in a narrow range flies in the face of recent market weakness and skeptics betting on even more price dumps. Related Reading: After WIF, BONK, BODEN: Top Crypto Trader Now Buys These 2 Memecoins Currently, Bitcoin is inside a range, with caps at $73,800 and $60,000. Despite overall market confidence, the coin has failed to pull higher, breaking above $70,000 even after Halving on April 20. Even though prices are firm, the absence of follow-through after April 21 and 22 hints at weakness. From the BTCUSDT price chart, the coin could explode should it break above the middle BB. If the leg up is accompanied by positive fundamental events, momentum could push the coin to all-time highs. On the flip side, BTC is likely to slip even lower should sellers flow back. The sharp rejection of bulls on April 24 is bearish. As such, this might set a wave of lower lows in motion, taking the coin below April 2023 lows. Traders Panicked Sold, Register Huge Losses Parallel market data shows panic sellers on Binance and OKX, two major crypto exchanges by trading volumes, have dumped a combined 5,137 BTC at a loss over the past two weeks. As data shows, prices have been weaving lower during this time, with bulls failing to counter the dump, especially after two consecutive losses on April 12 and 13. Related Reading: DOGE Price Prediction Dogecoin Below $0.14 Could Spark Larger Degree Drop Meanwhile, there have been sharp outflows from ARKB, the spot Bitcoin exchange-traded fund (ETF). Data shows that ARKB sold 490 BTC, worth $31 million, on April 25. This is the third-largest single-day outflow in history. Recent price pressures on BTC coincide with a marked drop in spot ETF inflows in the second half of April. On April 25, Lookonchain data revealed that GBTC and all the nine spot ETF issuers decreased over 2,100 BTC worth roughly $135 million. Feature image from Shutterstock, chart from TradingView

View Details

Bitcoin Readying For A 12-Year Bull Run To $650,000 If Bulls Take Charge: Analyst

Even with Bitcoin prices facing pressure from sellers, Willy Woo, an on-chain analyst, thinks the coin will reach new highs thanks to the launch of new Bitcoin exchange-traded funds (ETFs). In a post on X, Woo said the coin could soar to as high as $91,000 in a bear bottom but soar to as high as [...]

The post Bitcoin Readying For A 12-Year Bull Run To $650,000 If Bulls Take Charge: Analyst appeared first on Crypto Breaking News.

View Details

Altcoins Fall: Will Ethereum And Solana Bulls Surpass Expectations?

After a six-week run, altcoins are cooling off, leading some to fear the worst. However, in a post on X, one crypto analyst urges calm, saying the dip is a normal part of any bull market and may even present opportunities for discerning traders and investors. Altcoins Drop, Follow Bitcoin After posting solid gains and rallying to as high as $73,800 on March 13, Bitcoin edged lower on March 14 and continues under pressure when writing. Considering the positive correlation between Bitcoin and altcoins, leading altcoins like Ethereum, XRP, Cardano, and Solana retraced slightly.  Related Reading: Bitcoin Crash Triggered By Failed $1 Billion Hedge Fund Spread Trade: Expert When writing, Ethereum is far from the $4,090 recorded last week. At the same time, the Solana uptrend has slowed, with $200 proving elusive for optimistic traders. Meanwhile, XRP, despite the high optimism when prices roared higher on March 11, is struggling for momentum and is currently trending lower. While the altcoin has been drawn down, the total crypto market cap drop and fear creep in have caused the analyst to remain bullish. Despite the correction, the altcoin uptrend remains, and most coins, including Ethereum, Solana, and Cardano, could post more gains.  Ethereum, Solana, and BNB Fundamentals Are Solid To illustrate, the crypto community remains upbeat because of Dencun and its potential to enhance Ethereum and the broader layer-2 ecosystem. Ethereum rollup platforms, including Base and Optimism, that have activated Dencun features have seen decentralized applications (dapps) launching on their platforms benefit.  Uniswap Labs, the team behind Uniswap, a leading decentralized exchange, reported that transaction fees on users trading on Optimism have fallen even further after activating Dencun. This reduction in fees may be a catalyst to drive more activity on-chain, propping up prices. On the other hand, Solana bulls are upbeat. Since September 2023, SOL has been on a sharp uptrend. At spot rates, the coin roared to register fresh 2024 highs.  With this performance, Solana outperforms Bitcoin and other altcoins, including ETH. CoinMarketCap data shows that SOL has risen by 15% in the past week, closely trailing BNB, the native currency of the BNB Chain ecosystem. Analysts are looking at the upcoming Firedancer upgrade to fortify Solana’s infrastructure further and increase reliability. Meanwhile, regulatory developments in the United States are evolving positively, propping up altcoins, mainly BNB.  Related Reading: Solanas Biggest Memecoin Gains Over $680,000 In 3 Days As Investors Bet On Its Popularity Overall, the crypto uptrend remains even with prices cooling off. More importantly, even with falling prices, sentiment remains bullish. In the past week, CoinMarketCap data shows that the Crypto Fear and Greed Index is at “extreme greed” territory. Feature image from Shutterstock, chart from TradingView

View Details

Global Interest In Bitcoin Is Fast-Falling, What’s Happening?

According to Google Trends data, interest in Bitcoin is heading to historic lows as of June 27. In a screenshot shared by a Twitter user, organic searches related to “Bitcoin” have dropped in the last six months.  Google Trends is a free tool that tracks how people search for specific terms or phrases on Google, [...]

The post Global Interest In Bitcoin Is Fast-Falling, What’s Happening? appeared first on Crypto Breaking News.

View Details

Over $41 Million in Bitcoin Long Positions Liquidated as BTC Crashes Toward $29K

On July 24, 2023, Coinglass data revealed that over $41 million worth of Bitcoin long and short leveraged positions were liquidated as the BTC prices unexpectedly crashed below a consolidation level of around $29,500, shrinking by over 4%. The drop below the primary support is heaping pressure on the coin. It may draw more selling pressure [...]

The post Over $41 Million in Bitcoin Long Positions Liquidated as BTC Crashes Toward $29K appeared first on Crypto Breaking News.

View Details

Bitcoin Will Reach $175,000 If Prices Break Above This Rising Channel, Trader Claims

Bitcoin’s six-year range inside a rising channel has drawn the attention of a curious but optimistic analyst. Previewing the price chart shows that the coin has been in range over the years, capturing all of its volatility. Despite occasional dumps and pumps, the structure is yet to be broken.  By the time the screenshot was shared on July 21, Bitcoin was trading in the lower part of the rising channel, skirting the support trend line, an indicator that prices have been generally lower in recent months. The rejection of lower lows and bounce from the support trend line, the analyst says, is bullish and squarely puts back bulls in contention. Bitcoin To $175,000? According to the trader’s assessment, a breakout above the upper resistance level at around $32,000 could potentially trigger a new bull run that may see the world’s most valuable cryptocurrency retest highs of the rising channel at $175,000, a level that upbeat HODLers can mark as a feasible target.  Related Reading: Maker (MKR) Surges 26% In A Week As Token Buyback Program Goes Live Still, considering the volatility in crypto, this bullish forecast cannot be dismissed. To illustrate, the last bull run drove Bitcoin prices from sub-$10,000 to peaks of $69,000 in less than two years. Therefore, if Bitcoin bulls push above $32,000, a price level that the analyst claim is important, it could be a bullish signal that may be the beginning of another leg up in the resumption of the bullish formation set in motion between 2020 and 2021.  Bitcoin is trading below the $30,000 level at spot rates with resistance at $31,800. Despite the general optimism across the board, bulls are yet to breach July 2023 highs as prices consolidate. Halving And ETF Approval As Tailwinds? Specific triggers for the next run are unknown for now. Even so, considering past cycles, the upcoming Bitcoin halving event may provide the impetus for a leg up toward 2021 highs at $69,000. Besides, traders are closely monitoring how the spot Bitcoin exchange-traded fund (ETF) applications in the United States progresses.  The US Securities and Exchange Commission (SEC) has rejected several spot Bitcoin ETF applications in the past. However, the involvement of BlackRock has been received positively, lifting prices in the past few weeks. BlackRock is the world’s largest asset manager, managing trillions.  Related Reading: From Polygon NFT Wins To MATIC Gains: Understanding The Connection The approval of a Bitcoin ETF would ease institutional investors’ involvement in the sphere, potentially driving demand and lifting prices. Most importantly, a Bitcoin ETF legitimizes Bitcoin as an investment asset. Bitcoin is the most dominant crypto asset, and complex derivatives instruments, including exchange-traded products (ETPs), have been approved and listed in various markets across Canada, Europe, and Brazil. Feature image from Canva, chart from TradingView

View Details

SEC Sues Binance, Coinbase Then BlackRock Files For Bitcoin Spot ETF; Is This An Inside Job?

While the cryptocurrency community is excited about the BlackRock Bitcoin exchange-traded fund (ETF) filing and the planned involvement of other prominent players in traditional finance, such as Fidelity and Deutsche Bank, one observer is skeptical. On Twitter, he notes that these Wall Street giants only became involved after the United States Securities and Exchange Commission (SEC) took [...]

The post SEC Sues Binance, Coinbase Then BlackRock Files For Bitcoin Spot ETF; Is This An Inside Job? appeared first on Crypto Breaking News.

View Details

Dragon Year Awakening Bitcoin Proponents Eye Bull Market Surge Amidst Zodiac Predictions

As we usher in the Year of the Dragon this coming weekend on Feb. 10, 2024, per the Chinese zodiac, a significant swath of cryptocurrency enthusiasts are optimistic that bitcoin is on the cusp of a substantial bull market. This optimism is rooted in the Dragon year’s traditional association with prosperity, formidable strength, and dominion. [...]

The post Dragon Year Awakening Bitcoin Proponents Eye Bull Market Surge Amidst Zodiac Predictions appeared first on Crypto Breaking News.

View Details

Bitcoin Reaches $57K in Stellar Monday Surge, Erasing $70 Million in Shorts in Just One Hour

Bitcoin reached a peak of $57,055 on Monday, climbing 10.1% over a 24-hour span and elevating the digital asset’s market value to $1.10 trillion. The value of bitcoin relative to the U.S. dollar hasn’t ascended to these levels since Nov. 22, 2021, marking 12 days after the digital currency’s peak value of $69,000. Monday’s Bitcoin [...]

The post Bitcoin Reaches $57K in Stellar Monday Surge, Erasing $70 Million in Shorts in Just One Hour appeared first on Crypto Breaking News.

View Details

Bitcoin Breaks $54,000 Barrier for First Time Since 2021, Eyes Historic Highs Ahead of Halving Event

The price of bitcoin has risen past the $54,000 threshold, now hovering at $54,446 per unit as of Monday, Feb. 26, 2024, at 2:37 p.m. Eastern Time (ET). This leading crypto asset has witnessed a growth of 4.5% in the last six hours, and over the previous month, bitcoin’s value has soared by 28.3% against [...]

The post Bitcoin Breaks $54,000 Barrier for First Time Since 2021, Eyes Historic Highs Ahead of Halving Event appeared first on Crypto Breaking News.

View Details

Bitcoins Price Soars Past $48K, Nears $1 Trillion Market Cap Amidst Bullish Momentum

On Saturday, Feb. 10, 2024, bitcoin’s price soared beyond the $48K mark, reaching heights unseen since prior to Dec. 28, 2021. On Sunday, the leading digital currency maintained its robust momentum, consistently staying above the newly established price level. Over the last 24 hours, the crypto asset’s value has risen by over 2.6%, and it [...]

The post Bitcoins Price Soars Past $48K, Nears $1 Trillion Market Cap Amidst Bullish Momentum appeared first on Crypto Breaking News.

View Details

$18 Billion Worth Of Bitcoin Accumulated At $30,200 – BTC Bull Run Incoming?

A record 592,000 Bitcoin, or roughly $17.8 billion, was accumulated when the coin was trading at $30,200, recent Glassnode data indicates. At this accumulation rate, suggesting possible demand, more entities bought more coins at the second fastest pace in the network’s history. This record was only broken when 637,000 BTC were bought at an average [...]

The post $18 Billion Worth Of Bitcoin Accumulated At $30,200 – BTC Bull Run Incoming? appeared first on Crypto Breaking News.

View Details

This Bitcoin Metric Is At A Crucial Junction, Will Bulls Find Victory?

On-chain data shows a Bitcoin indicator is currently retesting a crucial level that could decide the direction the market takes from here. Bitcoin Short-Term Holder SOPR Has Plunged To A Value Of 1 As pointed out by an analyst in a CryptoQuant post, the short-term holders are currently selling at their break-even mark. The relevant indicator here is the “Spent Output Profit Ratio” (SOPR), which tells us whether Bitcoin investors are moving 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 currently selling their coins at a profit. On the other hand, the indicator having values below this threshold suggests the market as a whole is realizing a net amount of loss. The level at which SOPR becomes exactly equal to one implies that the loss realization is exactly equal to the profit realization right now, and hence, the average investor is just breaking even on their investment. In the context of the current topic, the entire market isn’t of interest; only a segment of it: the “short-term holders” (STHs). The STHs include all BTC investors that bought their coins within the last 155 days. Now, here is a chart that shows the trend in the 14-day moving average (MA) Bitcoin SOPR specifically for these STHs over the last few years: The value of the metric seems to have been going down in recent days | Source: CryptoQuant Historically, the Bitcoin STH SOPR has followed a curious pattern. During bullish periods, the indicator has generally stayed above the line where the metric’s value becomes 1. This makes sense, as rallies allow the STHs many profit-taking opportunities, so the majority should be selling at some gains. Related Reading: PEPE Unlikely To Be As Big As DOGE & SHIB, Says Santiment What’s actually interesting, though, is that whenever the metric has dropped to the 1 line, it has provided support to the price (and has also made the indicator rebound back above it). Examples of this have been marked with the green arrows in the graph. As already mentioned before, the 1 line signifies the level where the average STH is just breaking even, meaning that they are selling at the price at which they acquired their coins, that is, their cost basis. The reason why this level acts as support during bullish trends is that the investors see their cost basis as a profitable buying opportunity (since they believe the price would go up in the near future). So, a large amount of buying takes place here. Related Reading: Aura Around PEPE Isn’t Good For The Market, Especially Bitcoin – Here’s Why In bear markets, the opposite behavior is seen; the level acts as resistance to the price since selling tends to happen at it. Because of this pattern, the indicator’s behavior about the 1 level can provide hints about whether a bullish or a bearish regime is active currently. Recently, the indicator has once again dipped to this crucial level. If the Bitcoin rally is still on right now, then the Bitcoin STH SOPR should observe a rebound here. This has already happened once during this rally, as the price felt support at this level back in March. If, however, the retest ends up failing, then it may mean that a transition back to a bearish period may have occurred for the cryptocurrency. BTC Price At the time of writing, Bitcoin is trading around $27,000, down 2% in the last week. Looks like BTC has been moving sideways recently | Source: BTCUSD on TradingView Featured image from iStock.com, charts from TradingView.com, CryptoQuant.com

View Details

Paxful Founder Says The Bitcoin Pump To $26,000 Is Weak

Despite the banking crisis in the United States and the latest inflation data, Bitcoin surged this week, reaching a nine-month high above $26,000. However, Paxful founder, Ray Youssef, remains doubtful of the uptrend. In a tweet on March 15, he said the recent BTC leg up is “weak.” Bitcoin Surges Amidst Bank Crashes Much of [...]

The post Paxful Founder Says The Bitcoin Pump To $26,000 Is Weak appeared first on Crypto Breaking News.

View Details

Bitcoin Data Reveals Bulls Are Growing But Still Behind March 2024 Peak Details

Bitcoin has proven unstoppable, breaking all-time highs five times in six days and surging past the $82,000 mark. This latest milestone cements Bitcoin’s momentum as it pushes into uncharted territory, capturing the bulls’ attention and sparking new levels of optimism in the market.  According to recent data from CryptoQuant, the number of bullish investors is growing rapidly, yet theres reason to believe Bitcoins rally is far from over. Related Reading: Ethereum Analyst Sees Altseason Potential As BTS Is Still Outpacing ETH Time To Buy Altcoins? CryptoQuants insights indicate that BTC remains significantly below its March 2024 peak in several key metrics, which suggests that Bitcoin may still have room to climb within this cycle. This gap highlights that, despite the impressive gains, Bitcoin could still be building toward a true cycle peak, with potential gains yet to be realized.  As investor sentiment strengthens and Bitcoin shows resilience at each new level, the market watches closely for signs of continued upward momentum. The next few days will be crucial in determining just how far Bitcoin can go as it solidifies its place in the next phase of this bull run. Bitcoin Bulls Enter The Room Bitcoin bulls have returned after eight months of sideways consolidation and significant selling pressure. With Bitcoin now trading 11% above its previous all-time high from March, market sentiment has turned decisively bullish, marking the start of a new trend.  According to data from CryptoQuant analyst Axel Adler, the number of bullish investors in the market is steadily rising, signaling growing confidence. However, despite this uptick, the current rally lacks the frenzied demand seen during the March 2024 rally, when both retail and institutional interest reached euphoric levels. Adlers data indicates that while bulls have a strong foothold in the market, the pace of accumulation by new retail and institutional participants is still relatively modest. This gap between the current market dynamics and those seen in March suggests that Bitcoins latest surge may be just the beginning rather than the end of its upward trajectory in this cycle.  Related Reading: Cardano Skyrockets Over 40% Funding Rate Suggests Further Upside The slower but steady rise in buying interest could indicate that Bitcoin is still in the early stages of this bullish phase, with room for further growth before reaching a cycle peak. For investors, this could present a promising opportunity. The subdued retail and institutional excitement level suggests that Bitcoin has yet to capture mainstream attention as it did during previous peaks. If demand rises gradually, Bitcoin may experience sustained growth over the coming months, potentially reaching new highs as momentum builds.  BTC Setting New High Bitcoin recently set a new all-time high above $82,000, which many investors previously viewed as a likely local top. However, BTCs price action remains robust, and it may be too soon to call for a definitive peak.  Despite this upward momentum, a potential pullback to $77,000 could be on the horizon, as there is an unfilled gap in the CME futures market between $77,000 and $81,000a technical level that often attracts price action as traders look to close the gap. This week will likely bring significant volatility as bulls control the market. With Bitcoin in uncharted territory, some investors may seize the opportunity to lock in profits, which could introduce selling pressure.  Related Reading: Avalanche Nears Breakout Top Analyst Sets $420 Target For AVAX This Cycle Nonetheless, the dominant trend is bullish, and a brief correction to $77,000 could provide a foundation for further upside. Bitcoins strength remains intact for now, but all eyes will be on how it responds to the volatility and whether it can maintain this high range or dip slightly before resuming its climb.  Featured image from Dall-E, chart from TradingView

View Details

Number Of Bitcoin Bulls Increases As Funding Rate Shows Steady Growth Details

Bitcoin has rebounded strongly from the $65,000 mark after a 6% dip from Mondays high of around $69,500. Despite the recent pullback, BTC remains in a bullish trend that has been in place since early September. This rebound shows resilience, helping maintain the bullish market structure.  Key data from CryptoQuant reveals that the average funding rate has steadily grown since September, indicating that bullish sentiment is increasing as more traders actively engage in the market. Related Reading: Solana Stays Strong Despite BTC Drop $176 Next? The coming two weeks will be pivotal for Bitcoin as it approaches Marchs all-time high. Investors and analysts closely watch price movements as BTC builds momentum toward breaking key resistance levels. If the bullish trend continues, Bitcoin could be poised for another significant rally, with the potential to set new highs shortly. However, any failure to hold current levels could bring renewed volatility. Bitcoin Showing Strength Despite a recent dip, Bitcoin remains strong above key demand levels, maintaining the overall bullish structure. Analysts and investors are closely monitoring the price action for confirmation that the current phase is simply a bullish consolidation before the next leg up.  CryptoQuant analyst Axel Adler shared data on X, highlighting the BTC futures perpetual funding rate, which has shown steady growth since Bitcoin reached the $60,000 level. This indicates a growing number of bulls entering the market, with optimism rising as the price pushes higher. Adler suggested that bullish momentum will likely continue as long as this funding rate increases, reinforcing that BTC is in a healthy consolidation phase. However, this doesnt guarantee an immediate breakout. There is still a significant chance that Bitcoin may trade sideways over the next few days. Sideways price action could be essential for building liquidity, allowing the market to gather strength for a larger move. Related Reading: Dogecoin Breaks Above $0.12 Level Time For DOGE To Catch Up? While the market sentiment remains optimistic, especially with the ongoing increase in bullish activity, investors should prepare for potential fluctuations. The next major price action could go in either direction, but the steady support above key levels is a positive indicator for those betting on further upside in Bitcoins price. BTC Holding Above Key Demand  Bitcoin is holding strong above the $66,000 level after finding support around $65,000. Currently trading at $67,100, the market seems to be in a consolidation phase, and it may take some time before a breakout above the crucial $70,000 level.  For the bulls to maintain momentum, its essential that the price holds above $65,000 or finds support around the $64,300 mark, where both the 4-hour exponential moving average (EMA) and moving average (MA) align. Related Reading: Bitcoin Bears Lose Control As BTC Net-Taker Volume Shifts Positive If Bitcoin fails to maintain these support levels, a deeper correction could be expected, with the price potentially retracing to lower demand zones around $60,000. On the other hand, if BTC manages to break and hold above $70,000 in the coming days, this could trigger a strong rally toward challenging all-time highs. With investors closely monitoring key support and resistance levels, the next few days will be crucial for determining Bitcoins direction. Featured image from Dall-E, chart from TradingView

View Details

EU stock exchange Boerse Stuttgart sees crypto drive 25% of 2024 revenue

Boerse Stuttgart Group CEO Matthias Voelkel expressed a bullish stance on cryptocurrency, disclosing personal Bitcoin holdings.

View Details