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Bitcoin has been participating in a retest of its Pi Cycle Moving Average (MA) after recently achieving a daily close above this key technical indicator. In a recent X post, Crypto Rover explained that this retest is crucial as it could define whether BTC could build a new support at the Pi Cycle MA to […]
On-chain data shows the next major Bitcoin demand zone is around $56,000, a level BTC might end up revisiting if the decline continues. Bitcoin Has Next Major On-Chain Support Around $56,000 According to data from the market intelligence platform IntoTheBlock, BTC’s recent drawdown has meant that it may end up having to rely on the price range around $56,000 for support. Related Reading: Bitcoin Whales Showing Different Behavior From Past Cycles, But Why? In on-chain analysis, a level’s potential as support or resistance is based on the total number of coins that the investors last acquired there. Below is a chart that shows what the various price ranges around the current spot price of the cryptocurrency look like in terms of this cost-basis distribution. The data for the BTC acquisition distribution across the various price levels | Source: IntoTheBlock on X In the graph, the size of the dot represents the amount of Bitcoin that was purchased inside the corresponding price range. It would appear that the $63,000 to $64,890 level is currently thick with investors. To be more particular, 1 million investors acquired 530,000 BTC inside this range. Generally, whenever the asset retests the cost basis of any investor, they may become more likely to make some kind of move, due to the importance the level holds for them. Investors who were in profits just prior to the retest may be willing to make further bets, believing that if this level was profitable in the past it might be so again in the future. Naturally, this buying effect would only be relevant for the market if a large amount of investors acquired coins inside a tight price range. The $63,000 to $64,890 range qualifies for this. The range should have acted as a support point for the coin, but BTC has recently slipped under it, possibly suggesting that this support level may have broken down. As IntoTheBlock has highlighted in the chart, the next major range of potential support is the $55,200 to $57,100 range. Thus, should the current drawdown continue, this may be the next relevant range. “While this doesn’t mean that Bitcoin has to go this low, it is good to keep this range in mind while price is exploring recent lows,” notes the analytics firm. A decline to the average price of this range ($56,000) would mean a drawdown of almost 10% from the current spot value of the coin. Related Reading: Bitcoin Rebounds After Nearing Cost Basis Of Short-Term Whales Before this level, though, there is another interesting on-chain level that BTC could end up revisiting. As analyst James Van Straten has pointed out in an X post, the Realized Price (the average cost basis) of the short-term holders is around $58,800 right now. Looks like the value of the metric has been going up since a while now | Source: @jvs_btc on X The short-term holders (STHs) here refer to the investors who bought within the past 155 days. This group’s Realized Price has been at an important level historically during bull runs, as the asset has often found support at it. Breaks under it have, in fact, usually led to bearish transitions in the past. “If we drop below this, I will concede to a bear market similar to May 2021,” says Straten. BTC Price Bitcoin has registered a decline of almost 7% over the past 24 hours and in the process, has lost any recovery it had made earlier. Now, BTC is trading around $62,100. The price of the asset appears to have been going down recently | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, Glassnode.com, chart from TradingView.com
Billionaire investor Mark Cuban, a minority owner of the National Basketball Association (NBA) team Dallas Mavericks, expects the price of bitcoin to go up due to the supply-demand dynamic. “I do feel that the demand is going to exceed the number of people selling,” he explained, adding that bitcoin is “a great store of value.” [...]
The post Mark Cuban: Bitcoin Demand to Outpace Supply, BTC Is a Great Store of Value appeared first on Crypto Breaking News.
Galaxy Digital CEO Mike Novogratz sees “a tremendous global demand for bitcoin,” emphasizing: “This is probably the first time in the history of bitcoin that we have true price discovery.” Noting that there is “a new army of buyers” and there is also “an army of salespeople,” he expects the price of bitcoin to be [...]
The post Galaxy Digital Sees Tremendous Global Demand for Bitcoin CEO Says Theres a New Army of Buyers appeared first on Crypto Breaking News.
Over the years, millions of Bitcoin have been lost forever due to people forgetting or losing their keys, or possibly passing away without passing on their keys. With each passing year, this number grows and more BTC is lost. Now, this number is estimated to have crossed 6 million, which is quite bullish for the [...]
The post Six Million Bitcoins Now Lost Forever? Why This Matters appeared first on Crypto Breaking News.
Bitcoin has been trading sideways in a tight consolidation range, staying below key supply levels while holding strong above crucial demand zones. This phase of indecision has divided market sentiment, with many leaning toward a bullish trend that could result in an aggressive move in the coming days. While uncertainty lingers, analysts are optimistic that Bitcoin is preparing for its next significant price action. Related Reading: Ethereum Indicator Flashes Buy Signal On The Weekly Chart Potential For A Rebound? Renowned analyst Jelle shared a technical analysis on X, revealing that Bitcoin is still building a 4-hour rounding bottom, a bullish pattern that often precedes a breakout. Jelle highlighted that a new higher high was set on Friday, signaling potential momentum in favor of the bulls. This formation suggests that Bitcoin could be gearing up for a move toward reclaiming key levels, including the much-anticipated $100K mark. Despite the recent sideways price action, Bitcoins resilience above crucial demand zones reflects underlying strength. Many traders and investors are keeping a close watch, as this consolidation could soon come to an end. Whether BTC breaks above its supply zone or retraces to retest lower levels, the next move is expected to set the tone for short-term market direction. All eyes remain on Bitcoin as the market awaits confirmation. Bitcoin Prepares For A Massive Move Bitcoins price remains driven by speculation and uncertainty as short-term price action continues to be unpredictable. The price has struggled to reclaim the $100K mark, leaving analysts divided over its next move. Some are calling for a cycle top at $109K, while others believe that Bitcoin is setting the stage for a massive rally once it consolidates and establishes strong demand at current levels. Jelle shared a technical analysis on X, highlighting that Bitcoin is still forming a rounding bottom pattern above the $94K levela bullish structure that signals accumulation and potential upward momentum. He pointed out that a new higher high was set on Friday, strengthening the case for a possible breakout. According to Jelle, if Bitcoin can hold for another higher low over the weekend, bulls could push the price toward the critical $100K mark next week. Despite the ongoing uncertainty, the rounding bottom pattern offers a glimmer of optimism for the market. Bitcoins ability to stay above the $94K level reflects its resilience, even amid volatility. Traders and investors are closely monitoring this consolidation phase, as it could determine the next significant trend for BTC. Related Reading: Dogecoin Adam & Eve Structure Hints At Bullish Potential Can DOGE Breakout? If the price successfully reclaims the $100K mark, a rally toward the $109K cycle top becomes increasingly likely. Conversely, failing to hold current levels could lead to a deeper correction. The coming days will be crucial for Bitcoins short-term direction, with both bulls and bears battling for control. BTC Price Struggles With Short-Term Direction Bitcoin is trading at $97,700 after briefly tagging the 4-hour 200 EMA near $98,800, sitting less than 3% below the crucial $100K level. Bulls are striving to reclaim the $98K level and push the price above the psychological $100K mark, a critical resistance zone that has kept BTC in a consolidation phase. Breaking above $100K would signal renewed momentum and could set the stage for a strong uptrend. The $98K and $100K levels are key short-term hurdles for bulls, as reclaiming these zones would restore confidence and likely attract more buyers. A successful breakout above the $100K mark could ignite a rally, taking Bitcoin into higher territory and possibly testing all-time highs. Related Reading: Ethereum Whales Have Bought Over 600,000 ETH In The Past Week Time For A Price Upswing? On the flip side, downside risks remain significant. Losing the $94K support level could trigger a correction into lower demand zones around $89K, where buyers might step in to prevent further declines. Such a move would signal continued market indecision and could lead to extended consolidation or even bearish pressure. Featured image from Dall-E, chart from TradingView
Bitcoin has experienced a quiet weekend, with the price remaining stagnant around the $96,500 level for five consecutive days. This prolonged period of consolidation highlights the current indecisive nature of the market. Bulls have been unable to reclaim control and push Bitcoin above the critical $100K mark, while bears are also struggling to drive the price lower toward key demand levels. Related Reading: Ethereum Holds Multi-Year Bullish Pattern Expert Suggests The Next Move Will Be The Real Deal The lack of direction has left investors and analysts watching closely for signals of the next major move. The broader market sentiment remains cautious, with many questioning whether Bitcoin can regain bullish momentum or if a deeper correction is on the horizon. Key metrics shared by crypto expert Axel Adler on X provide some insight into the current dynamics. According to Adler, the $97K level serves as a strong support zone, representing the average purchase price for Bitcoin short-term holders. This suggests that a significant portion of market participants are still confident in Bitcoins ability to hold above this level despite the lack of upward momentum. Bitcoin Demand Remains Strong As Indecision Drives The market Bitcoin has been navigating through weeks, even months, of uncertainty and speculation, leaving investors divided about its short-term direction. Bulls have struggled to push the price back above the critical $100K mark, while bears have been unable to break below key support levels. This stalemate has created a market characterized by indecision, with volatility continuing to dominate price action. The absence of a clear trend has caused frustration among investors, many of whom had anticipated a stronger rally earlier this year. Instead, Bitcoin has been consolidating within a range, bouncing between its $109K all-time high and support levels around $90K. For now, the market seems stuck in this phase, with no immediate catalyst to break out. Top analyst Axel Adler has provided crucial insights into the current dynamics. According to Adler, the $97K level is acting as strong support, as it represents the average purchase price for short-term holders who have held their Bitcoin for one to three months. This data suggests that many market participants are still confident in Bitcoin’s ability to hold this level, even as broader uncertainty looms. If Bitcoin can sustain this support in the coming days, analysts anticipate a potential rally back toward range highs around $109K. However, failure to maintain this level could pave the way for further downside, testing lower demand zones. For now, the market remains on edge, waiting for Bitcoin’s next decisive move. Related Reading: Cardano Is Showing Signs Of A Potential Rebound As Key Indicator Flashes A Buy Signal Analyst BTC Price Action Details: Key Levels Bitcoin is currently trading at $98,000 after spending the past week in a tight range between the $100K psychological resistance and the $94,500 low. This range-bound price action highlights indecision in the market, as bulls and bears struggle to gain control. For Bitcoin to confirm a short-term reversal and regain bullish momentum, bulls need to reclaim the $98K mark as support and push decisively above the $100K level. Breaking and holding above this critical resistance could set the stage for a move toward higher price levels, potentially targeting all-time highs around $109K. A successful reclaim of the $100K level would signal renewed strength and confidence in the market, sparking optimism among investors. On the flip side, failure to hold above the $95K support level could open the door for further downside. A drop below $95K might send Bitcoin into lower demand zones, with the $90K level acting as the next key support. Such a move could further fuel bearish sentiment and extend the current consolidation phase. Related Reading: Ethereum Stuck Below $2,800 Resistance Bulls Need A Higher Low To Recover As the market continues to consolidate, investors are closely monitoring these levels for clues about Bitcoin’s next move. With both bulls and bears testing their limits, the coming days will likely determine the short-term direction of BTCs price. Featured image from Dall-E, chart from TradingView
Bitcoin has found itself in a challenging position, struggling to reclaim the coveted $100,000 mark after a rapid shift in market sentiment. Just weeks ago, optimism dominated the landscape, with prices surging toward new heights. However, the narrative has taken a sharp turn, as fear now grips the market following a sudden correction. Related Reading: ONDO Faces 30% Correction Risk If It Loses $1.46 Support Top Analyst Currently trading below $100K, Bitcoins price action reflects increased uncertainty among investors. Top analyst Axel Adler recently shared his insights on X, emphasizing the significance of the $90,000 level as a robust support zone. According to Adler, this zone extends to a lower range of $79,000, offering a safety net should further declines occur. He highlights that maintaining this support is crucial for Bitcoin to stabilize and regain bullish momentum. While the current sentiment leans toward caution, historical trends suggest that Bitcoin often thrives after testing key support levels. The market’s focus has now shifted to whether BTC can defend this critical zone and stage a recovery. In the coming days, the $90K mark will be a pivotal battleground, determining whether Bitcoin can regain its footing or continue its descent. Investors and analysts alike are closely monitoring these developments, awaiting the next major move. Bitcoin Finding Demand Below $100K Bitcoin’s price action has shifted from testing new all-time highs to finding solid demand below the $100,000 mark. This zone will determine whether the rally resumes or the market confirms a deeper correction. Amid this uncertainty, top analyst Axel Adler has provided critical insights on X, shedding light on key levels shaping Bitcoin’s trajectory. Adlers analysis highlights the significance of the $79,000 level, which recently recorded the largest unrealized profit and loss (P/L) in the past decade. This data suggests that the $79K zone is not only a psychological benchmark but also a crucial support level with significant market activity. Additionally, he emphasizes the $90K mark as a robust support area, with its lower boundary set at $79K. Adler notes that holding above $90K in the coming weeks would bolster bullish momentum, making a surge past $100K highly probable. Related Reading: Ethereum Price Setting For a Big Move Breakout Or Downturn? However, Adler also cautions about the potential for a sideways consolidation phase. Such a move could serve as a cooling-off period for the market, allowing it to digest recent gains before resuming its upward trajectory. For now, Bitcoin’s price action remains at a pivotal crossroads, with its ability to maintain support levels dictating whether the next phase will be a breakout or a correction. Investors are watching closely. Technical Analysis: Key Levels To Hold Bitcoin is currently trading at $96,200, reflecting days of indecision and sideways price action that has left traders uncertain about the next move. Despite this consolidation phase, BTC remains within a critical range, with its next direction likely to depend on whether bulls or bears take control. For bullish momentum to return, Bitcoin must break decisively above the psychological $100,000 mark. Achieving this milestone would signal renewed strength and could pave the way for further price discovery, potentially igniting another leg of the rally. On the flip side, holding above the $92,000 level would still maintain a bullish narrative, as it demonstrates resilience at a crucial support zone. However, concerns about a potential downturn persist among analysts. Some experts predict that Bitcoin could drop as low as $70,000 in the coming weeks if the $92K support fails to hold. This bearish scenario would represent a significant correction and could shake market sentiment. Related Reading: Solana Sees Consistent Capital Inflows Since 2023 Liquidity Influx Signals Growth In the current environment, Bitcoins price is at a pivotal point, with bulls needing to reclaim control to push the market higher. Until then, the market remains vulnerable to both bullish breakouts and bearish breakdowns, leaving investors carefully monitoring these key levels for further clues. Featured image from Dall-E, chart from TradingView
Bitcoin has had a whirlwind few days, hitting an all-time high (ATH) last Tuesday before tumbling into a sharp 15% correction. This period of heightened volatility has left investors divided, with some expecting a continued uptrend while others brace for more downside. The market is closely watching Bitcoins ability to reclaim its bullish momentum. Related Reading: XRP Whales Loading Up Data Reveals Buying Activity Top analyst Ali Martinez has highlighted critical data from the Bitcoin cost basis distribution, pointing to $97K as a crucial support level. Martinez stresses that holding this level is essential for BTC to maintain its uptrend and fend off deeper corrections. However, Bitcoins price action remains uncertain as it struggles to break through the psychological barrier at $100K. While many investors see the recent correction as a healthy reset after BTCs meteoric rise, the failure to push higher could signal a more prolonged consolidation phase. With Bitcoin trading near pivotal levels, the coming days will be critical in determining whether it will resume its climb to new highs or face additional headwinds. Bitcoin Holding Above Key Demand Bitcoin is holding steady above a critical demand level around $97,000, offering a beacon of hope for bulls after recent volatility. This stability follows a brief test of lower demand at $92,000, which reinforced the markets ability to absorb selling pressure. While the short-term recovery is encouraging, the price remains at a pivotal point that could determine its trajectory heading into the new year. Martinez recently shared insights from the Bitcoin cost basis distribution, emphasizing the importance of the $99,000$97,000 range. His data highlights this zone as the most significant support threshold for Bitcoin, acting as a critical line in the sand for the current uptrend. However, Martinez warns of the potential downside risk if Bitcoin fails to hold this range: We really dont want this level to become resistance. As Bitcoin consolidates near these key levels, sentiment across the market remains indecisive. Bulls are eager to see BTC reclaim momentum and push toward all-time highs, but the psychological resistance around $100,000 continues to loom large. Meanwhile, bears argue that the recent pullback could be a sign of an impending larger correction. Related Reading: On-Chain Metrics Reveal Cardano Whales Are Buying The Dip Details The coming days will be crucial as the year draws to a close. With market participants looking for clarity, Bitcoin must hold this critical support zone or risk losing its bullish structure. Whether the next major move is up or down will depend heavily on how BTC reacts within this price range. BTC Testing Liquidity Bitcoin is trading at $97,000, showing resilience after rebounding from local lows of $92,000. This bounce highlights the market’s strong demand at lower levels, reinforcing the bullish narrative for now. The price structure remains intact above $97,000, indicating that BTC is well-positioned to stage another rally toward its ATH. However, the $100,000 psychological barrier looms large as the next major hurdle for bulls. This level has proven difficult to overcome, with previous attempts falling short. A successful breakout above $100,000 in the coming days would likely reignite bullish momentum and set the stage for Bitcoin to reach new ATHs, restoring confidence among investors and traders. Related Reading: BTC Realized Losses Spike 3 Times The Weekly Average Healthy Correction Or Downturn? On the flip side, failure to breach this critical resistance could trigger a less favorable scenario. If Bitcoin struggles to gain traction above $100,000, market sentiment may waver, leading to increased selling pressure. In such a case, BTC could face another downturn, testing key support levels once again. Featured image from Dall-E, chart from TradingView
This week was one of two distinct halves for the price of Bitcoin, with the premier cryptocurrency rising to a new all-time high and dropping by about 13% a few days later. On Friday, December 20, the BTC price dropped to as low as $92,000. This abrupt Bitcoin price decline came following the US Federal Reserves rate cut, which also pushed other financial markets to the red. However, it is worth mentioning that the premier cryptocurrency is beginning to show signs of recovery, currently hovering around $97,000. Can Growing Demand Push BTC Price Back Above $100,000? In a recent December 20 report, market analytics platform CryptoQuant revealed an interesting on-chain development with the Bitcoin supply-demand dynamics. According to the blockchain firm, the BTC market seems to be enjoying renewed investor interest. Related Reading: How Low Can Dogecoin Go Before It Rebounds? Expert Forecasts The relevant indicator here is the Total OTC Desk Balance, which tracks the amount of Bitcoin held in addresses associated with Over-The-Counter (OTC) desks. This metric provides an insight into the supply of BTC readily to large investors and institutional players. According to data from CryptoQuant, the OTC desks are witnessing their largest monthly inventory decline of 2024, declining by over 26,000 BTC so far in December. This decline has been even more significant in the past 30 days, with the balance dropping by 40,000 BTC since November 20. This decline in the Total OTC Desk Balance is a bullish indicator, which reflects the soaring demand for Bitcoin and the concurrently shrinking supply. Typically, the contracting BTC supply on the open market could set the stage for a period of significant price appreciation. CryptoQuant noted that the price of Bitcoin rallied from $40,000 to around $74,000 in the 2024 first quarter after demand growth caused the Over-The-Counter desks inventories to fall. According to the market intelligence, the OTC desks inventory is beginning to near the levels seen during the first-quarter rally. Data from CryptoQuant shows that Bitcoins apparent demand is currently growing at a monthly rate of 228,000 BTC after entering the expansion territory in late September. At the same time, the balance of accumulation addresses is swelling at a record-high rate of 495,000 BTC per month. Bitcoin Price At A Glance As of this writing, the price of Bitcoin stands at around $97,655, reflecting a 0.1% decline in the past 24 hours. The premier cryptocurrency is down by nearly 4% on the weekly timeframe, according to data from CoinGecko. Related Reading: Dogecoin Price And Its Weekly Golden Cross: Why The Crash To $0.31 Remains Natural Featured image created by DALL-E, chart from TradingView
Bitcoin has faced a volatile week, with sharp moves above and below the pivotal $100,000 mark, but the price still struggles to close and hold above this psychological level. The lack of a clear direction has divided investors, with some anticipating a breakout into uncharted territory while others brace for a potential correction. Related Reading: Solana Might Reach $295 Once It Breaks Key Supply Zone Details CryptoQuant analyst Axel Adler shared key data shedding light on Bitcoin’s current dynamics. According to Adler, the nearest support level is $94,500, representing the average purchase price for short-term holders (STH) holding coins for one week to one month. This metric underscores the importance of this level as a critical threshold for maintaining market confidence. As Bitcoin grapples with resistance at $100K, the $94.5K support will be crucial in shaping the next phase of price action. A successful defense of this level could reignite bullish momentum, while a breakdown might trigger a deeper retrace. With the broader market still indecisive, Bitcoins movements in the coming days will be closely watched by traders and investors seeking clarity in an uncertain environment. The battle for $100K continues, and all eyes are on whether Bitcoin can finally claim this level as solid ground. Bitcoin Demand Remains Strong Despite significant selling pressure and choppy price action, Bitcoin demand remains robust, keeping the price above crucial demand zones. Investors appear to be holding their ground, contributing to a period of consolidation as they prepare for Bitcoins next major move. The current sideways trend reflects market indecision, yet it underscores the resilience of Bitcoin’s price in the face of volatility. Axel Adler, a prominent CryptoQuant analyst, recently shared critical insights into Bitcoin’s support levels on X. According to Adler, the nearest support level is $94,500, which represents the average purchase price for short-term holders (STH) holding coins for one week to one month. This level has become a key threshold, providing strong demand and acting as a safety net for BTC during periods of downward pressure. Further analysis reveals that $80,800 marks the average purchase price for the broader STH cohort. This level is pivotal as it represents a deeper liquidity zone that could come into play in a more significant correction. These data points suggest that $94.5K and $80.8K will be critical to monitor in the coming days and weeks. Related Reading: Cardano Follows 2020 Bullish Pattern Top Analyst Plans To Take Profits Between $4 And $6 As Bitcoin consolidates, the market anticipates whether these key support levels will hold or demand will drive BTC into its next bullish phase. The stakes are high, and investors are closely monitoring these liquidity zones. BTC Finding Fuel Below $100K Bitcoin is trading at $98,000 after failing to sustain a breakout above the critical $100,000 level over the past week. Despite this, the price remains resilient, with bulls finding momentum to push BTC closer to reclaiming this psychological threshold. The market watches closely as Bitcoin consolidates, signaling preparation for its next significant move. Key resistance lies at $101,200, which analysts view as pivotal for triggering the next leg up. If Bitcoin successfully reclaims and holds above this zone, it could pave the way for a strong bullish surge, driving the price into uncharted territory. Such a move would likely attract renewed interest and capital, solidifying the current rally. Related Reading: PEPE Whales Increased Their Holdings By $1.4 Billion Yesterday Details However, the downside risk remains a concern. Should Bitcoin fail to break above $101,200 and lose the $94,500 support levelidentified as a critical threshold by analystsinvestors could see a correction phase unfold. This scenario would likely target deeper liquidity zones, such as $80,800, as potential support areas. Bitcoin’s ability to hold its ground and reclaim key levels will determine its direction in the coming days. Traders closely monitor price action for signs of strength or weakness amid growing market anticipation. Featured image from Dall-E, chart from TradingView
Yesterday, Bitcoin had one of its most bullish days in history, skyrocketing past its all-time high to reach $76,990. This new milestone has ignited widespread excitement and confidence among investors, who now see the potential for further gains. Key data from Carl Runefelt reveals that Bitcoin ETFs experienced a historic surge, with $1.38 billion in net daily inflows. This record-breaking figure highlights institutional demand for Bitcoin, as major players like BlackRock are buying BTC in anticipation of long-term growth. Related Reading: Solana Breaks Above Key Resistance Top Analyst Sets $300 Target The influx into Bitcoin ETFs underscores a broader trend of institutional adoption, with increasing interest from financial giants as they recognize Bitcoins potential as a store of value and hedge against economic uncertainty. Runefelts analysis suggests that this level of demand is unprecedented, marking a turning point that could sustain Bitcoins bullish momentum. The recent surge is not just a technical breakout but also a fundamental shift driven by institutional confidence, setting Bitcoin up for potential further highs as large-scale investors continue to enter the market. Bitcoin Hits New ATH Bitcoin has surged into uncharted territory, breaking its previous all-time highs once again to reach a new peak that has captivated the crypto community. This historic rally comes on the heels of the U.S. election, which saw Donald Trump emerge victorious. Market sentiment suggests that Trumps pro-crypto stance could have played a role in driving renewed confidence among U.S. investors, who are looking to Bitcoin as a hedge amid changing economic policies. Adding to this momentum, traditional investors increasingly pour into Bitcoin through ETFs, marking a significant shift in institutional interest. According to key data from SoSo Value, shared by prominent analyst Carl Runefelt on X, Bitcoin ETFs experienced record-breaking daily inflows yesterday, totaling an astounding $1.38 billion. This historic inflow underscores the growing appetite from institutional players who are viewing Bitcoin as a critical asset for their portfolios. The recent bullish shift among institutions follows a prolonged 7-month accumulation phase that had cast shadows of doubt over Bitcoins potential to break new highs this year. Many investors remained cautious, with market volatility and uncertainty testing their confidence. Related Reading: Bitcoin Indicator Signals Equilibrium After Trump Victory A Clear Path To New Highs? With institutional backing at record levels, Bitcoins recent rally could signify the beginning of an extended bullish phase. As big players like BlackRock buy-in through ETFs, the market sees this as a signal of renewed strength. All eyes are now on Bitcoins next moves, with analysts suggesting the recent price action may only be the beginning of a larger bull run for the worlds largest cryptocurrency. BTC Pushing Up: Strong Price Action Bitcoin is trading at $76,000 after reaching new all-time highs. BTC is entering a strong consolidation phase above the previous record level of $73,800. This price zone is crucial for bulls, as holding above it could provide stability for Bitcoins rally to continue. Analysts are closely watching this level; if BTC can respect it, the bullish momentum may persist, encouraging further gains. However, the recent euphoria could lead to a consolidation phase just below $77,000a level some experts identify as a short-term local top. This resistance could take time to overcome as the market digests recent gains and awaits fresh catalysts for another breakout. Related Reading: Ethereum Analyst Sets $3,400 Target Once ETH Breaks Key Resistance Details Despite potential consolidation, demand remains robust, and on-chain data reflects strong buying pressure that could continue driving the price upward. The technical outlook suggests further upside potential if Bitcoin can stay above $73,800 over the coming days. Bulls are optimistic, as it could establish a solid foundation for the next leg up in Bitcoins ongoing rally. Featured image from Dall-E, chart from TradingView
Bitcoin recently saw a 9% retrace from its all-time high of $99,800, narrowly missing the psychological $100K milestone. The pullback brought BTC down to a low of $90,700 on Tuesday, sparking concern among some investors. However, the price has since recovered, showing resilience as it climbs back toward key resistance levels. Despite the volatility, Bitcoin’s long-term bullish structure remains intact, with market sentiment leaning optimistic. Related Reading: Cardano Whales Buy The Dip Metrics Show Increasing Demand Top analyst Axel Adler has provided key on-chain insights that suggest that the strong demand for Bitcoin persists at current levels. According to Adler, this buying activity indicates that investors view pullbacks as opportunities to accumulate, underscoring confidence in Bitcoin’s potential for further growth. However, he also highlighted solid support at lower price levels, which could come into play if the current recovery fails to sustain. The next few days will be crucial as Bitcoin tests its ability to reclaim momentum and potentially break through the $100K barrier. With demand remaining robust and market conditions aligning for a potential breakout, all eyes are on whether BTC can sustain its upward trajectory or if further consolidation is on the horizon. The stage is set for a decisive move in Bitcoin’s price action. Bitcoin Data Reveals Investors’ Entry Prices Bitcoin continues to showcase extremely bullish price action, driven by increasing demand from institutional and retail investors. Key on-chain data from CryptoQuant analyst Axel Adler highlights critical price dynamics shaping the current market. According to Adler, Bitcoins price is presently consolidating within the average purchase range of two key investor cohorts: the 1D ($96.8K) and the 1D-1W ($95.3K). These levels act as crucial support zones, reflecting strong buyer interest at current prices. Additionally, the average purchase level in the 1W-1M range, positioned at $84K, provides an extra layer of support in case of a broader market pullback. This indicates that even in a more bearish scenario, Bitcoin will likely find stability around $84K before resuming its upward trajectory. The data reinforces a widely held bullish outlook for Bitcoin among analysts and investors, many of whom believe the current cycle is still in its early stages. The strong demand and robust support levels suggest that Bitcoin is well-positioned to maintain its bullish momentum in the weeks ahead. Related Reading: XRP Consolidates Below Crucial Resistance Analyst Sets $1.60 Target Whether BTC holds above its current levels or experiences a temporary dip, the consensus remains optimistic about further gains, with this cycle potentially marking a historic run for the cryptocurrency. BTC Nears $100K Bitcoin is currently trading at $95,200, a pivotal level that could determine its next major move. This price point serves as a crucial threshold, and if Bitcoin holds above it, the stage would be set for a potential test of the highly anticipated $100,000 level. Before reaching this psychological milestone, the next significant supply zone lies at $98,800. A break above this level would likely trigger a massive breakout, propelling BTC beyond its all-time high and into six-figure territory for the first time. However, the stakes remain high. Bitcoin could face a deeper correction if it fails to maintain its position above the $90,000 level. In such a scenario, the next strong support is at $85,500, a critical level that would need to hold to preserve Bitcoins bullish structure. Related Reading: Ethereum Analyst Predicts $3,700 Once ETH Breaks Through Resistance Market participants closely monitor these key levels, as Bitcoins trajectory will influence broader market sentiment. With strong demand and momentum, the coming days will be pivotal in determining whether BTC surges past $100,000 or consolidates further before resuming its bullish run. As the market remains highly dynamic, traders and investors are bracing for significant moves ahead. Featured image from Dall-E, chart from TradingView
Bitcoin has surged past the $99,800 mark, setting a new all-time high as it inches closer to the psychological $100,000 barrier. While the milestone signals remarkable strength, the price has yet to claim this key level, leaving investors in suspense. Market demand remains robust, fueling optimism that Bitcoin will soon break above the $100,000 threshold. [...]
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Bitcoin has surged past the $99,800 mark, setting another all-time high as it inches closer to the psychological $100,000 milestone. Despite briefly testing the level, BTC has yet to break through, leaving investors and analysts eagerly anticipating the next move. With demand remaining robust, the stage appears set for Bitcoin to push past this key barrier in the coming days. Related Reading: Massive Ethereum Buying Spree Taker Buy Volume Hits $1.683B In One Hour Recent data from CryptoQuant highlights a significant factor driving this rally: the Coinbase Premium Gap, which currently sits at $224. This metric, representing the price difference between Bitcoin on Coinbase and other global exchanges, signals strong buying activity from US Coinbase investors. The relentless upward momentum has further solidified Bitcoins dominance in the crypto market, with many viewing the $100,000 level as a critical supply zone. While the price has yet to break through, the ongoing rally reflects a growing belief that Bitcoins parabolic bull phase is far from over. As the market approaches this pivotal moment, all eyes remain on BTCs ability to sustain its momentum and claim new highs, setting the tone for the weeks ahead. Bitcoin Price Action Remains Strong Bitcoin has been in an only up phase since November 5, showing no signs of weakness as it consistently climbs to new heights. Even after failing to break above the $100,000 mark yesterday, price action remains incredibly strong. Bulls are firmly in control, and if Bitcoin holds above critical demand levels, the long-anticipated $100,000 milestone could be breached within hours. CryptoQuant analyst Maartunn revealed that robust demand from US investors is a key driving force behind this rally. According to his data, the Coinbase Premium Gapa metric that tracks the price difference between Bitcoin on Coinbase and other global exchangesstands at $224. This positive premium underscores US-based buying activity as a significant factor in the current bullish momentum. A high premium often suggests that investors on Coinbase are willing to pay a higher price than others, a strong indicator of heightened demand. Related Reading: Polkadot Holds Key Demand Level DOT Could Hit $11 In Coming Weeks As the market watches closely, Bitcoin’s ability to maintain its upward trajectory hinges on staying above vital support levels. The psychological resistance at $100,000 remains formidable, but the unyielding appetite from US investors points to continued strength in the days ahead. With such solid fundamentals, many analysts believe Bitcoin is poised for another explosive rally once the $100,000 barrier is decisively cleared. BTC Rally Is Only Starting Bitcoin is trading at $98,800 after a failed breakout above the highly anticipated $100,000 mark. Despite this temporary setback, price action remains firmly bullish as BTC continues to hold above key demand levels, showing resilience and strength in the current market. The failure to retrace to lower prices indicates that bullish momentum is still intact, keeping investors optimistic about a potential breakthrough. If BTC maintains its position above the critical $95,000 support level, the likelihood of a surge past the $100,000 psychological barrier increases significantly. Holding above this level would signal strong buyer interest and the potential for further upside, paving the way for Bitcoin to resume its upward trajectory in the near term. Related Reading: Ethereum Consolidation Continues Charts Signal Potential Breakout However, if Bitcoin fails to hold above $95,000, a retrace to lower demand zones would confirm a short-term correction. Such a pullback could provide the necessary fuel for the next rally, as it would allow the market to consolidate before making another attempt at breaking the $100,000 mark. For now, all eyes remain on Bitcoins ability to defend its key support levels as the market anticipates the next major move in this historic rally. Featured image from Dall-E, chart from TradingView
Bitcoin reached a new all-time high yesterday, surging to $94,000 and solidifying the bulls control over the market. This milestone has ignited widespread speculation about the key factors fueling the rally, as Bitcoin continues to dominate headlines and capture investor enthusiasm. Key insights from CryptoQuant CEO Ki Young Ju shed light on the drivers of [...]
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Bitcoin (BTC) has held steady above the $88,000 mark over the past few days, showcasing resilience as the broader market anticipates its next move. Price action remains robust, leaving investors waiting for lower prices frustrated, as BTC shows no signs of providing an easy entry point anytime soon. Related Reading: Dogecoin Breaking Out Of Falling Wedge Pattern Analyst Reveals Target Key data from CryptoQuant reveals that long-term holders (LTHs) are currently in an active distribution phase, signaling increased selling activity from this group. Despite this, the market has absorbed the additional supply without significant price impact, highlighting the strong demand supporting BTC at these levels. As Bitcoin consolidates just below its all-time highs, traders and analysts are closely watching whether the current momentum will lead to a breakout or if a retracement is on the horizon. The balance between rising demand and LTH distribution will likely determine BTC’s near-term trajectory. Can Bitcoin Set New ATH This Week? Bitcoin is on the brink of breaking its all-time high (ATH) again this week, sitting just 2% below the $93,483 level set last Wednesday. Excitement is building as analysts and investors closely watch BTCs price action, anticipating whether it will surge past this critical level or enter a prolonged consolidation phase. While the bullish momentum remains strong, the possibility of a sideways movement could keep the price range-bound for an extended period before the next significant move. Data from CryptoQuant analyst Axel Adler highlights that long-term holders (LTHs) are currently in an active distribution phase. Despite this, the increased supply has not significantly impacted Bitcoins price, thanks to strong demand that continues to absorb selling pressure. This dynamic reflects the robust market interest that is supporting BTC near its record highs. Adler’s analysis also points to the LTH Spending Binary Indicator, which signals peak spending activity among LTHs. At the same time, the growing LTH supply suggests that a portion of long-term holders remain confident in BTCs future price potential. These factors create a unique environment where high demand offsets distribution, keeping the bullish momentum intact. Related Reading: Last Chance To Buy Ethereum? Analyst Expects $6,000 Once It Breaks 8-Month Accumulation As Bitcoin flirts with its ATH, market participants await confirmation of whether the price will push into uncharted territory or pause for consolidation. The outcome will likely set the tone for BTC’s trajectory in the coming weeks, with investors betting on the continued upside in this resilient rally. BTC Price Action: Key Levels To Hold Bitcoin is trading at $91,820, following several days of sideways consolidation just below its all-time high (ATH). Despite the pause, BTC has maintained its position above the $87,000 support level since the last breakout, signaling its importance as a crucial line for bulls to defend. Holding this level is vital for sustaining upward momentum and setting the stage for Bitcoin to push into uncharted territory. However, a drop below $87,000 could shift market sentiment, likely triggering a correction as BTC searches for fresh demand. The next logical support zone lies around the $80,000 mark, with the potential for a deeper pullback if selling pressure intensifies. Such a retrace would provide an opportunity for sidelined buyers but could temporarily stall BTC’s rally. Bitcoin’s price action remains robust, bolstered by demand that continues to outpace supply. This strong market interest has mitigated the impact of profit-taking and selling activity, keeping the broader uptrend intact. Related Reading: Solana Breaks Above Key Resistance At $225 ATH Next? As BTC consolidates near its ATH, traders closely watch key levels to determine whether the next move will be a breakout to new highs or a dip to test lower support zones. Either outcome will likely shape Bitcoins trajectory in the coming weeks. Featured image from Dall-E, chart from TradingView
Data from several on-chain indicators suggests demand from retail investors has finally returned following the latest Bitcoin rally. Bitcoin Retail Interest Has Returned In Explosive Fashion Bitcoin has witnessed a massive surge recently and has come closer to the $100,000 dream target than many had expected. Investor interest in the asset had cooled off during the cryptocurrency’s endless consolidation, but with a rally like this, it has naturally made a return. In the context of the current discussion, the investor focus segment is retail, which includes the smallest of the holders. The first metric that would hint at a return of these investors in the market is the New Addresses, which keeps track of the total amount of BTC addresses coming online for the first time. Related Reading: Dogecoin & Co. Take Over Social Media: Why Memecoin Frenzy Is Bad For Bitcoin As the market intelligence platform IntoTheBlock has pointed out in an X post, the Bitcoin New Addresses have witnessed a sharp increase recently, suggesting a large amount of address creation. The New Addresses can register an uptick when new investors join the network or when old ones who had sold earlier come back to the asset. The metric also goes up when existing users create multiple wallets for privacy. However, when a surge occurs at a scale like the recent one, the former is more likely to be the reason. Thus, the latest trend in the indicator could imply a high amount of fresh adoption for the cryptocurrency. As is visible in the above graph, the Bitcoin New Addresses recently hit a high of 442,000, the highest daily value since March of this year. Large investors are also likely joining the network right now, but their number certainly wouldn’t be too high, so this adoption must come from retail investors. Another indicator, the Retail Investor Demand 30D Change, provides us with information about the activity of existing and newcomer retail investors right now. As CryptoQuant community analyst Maartunn has explained in an X post, this indicator has also recently shot up. This metric tracks retail investor demand through transaction volume. Since the members of this cohort carry balance amounts that aren’t too significant, their transfers tend to involve small values as well. As such, their volume can be measured by only involving data of the transfers valued at less than $10,000. From the chart, it’s apparent that the 30-day change in the volume of retail investors has recently seen a large positive spike to levels not seen in more than four years. Related Reading: Bitcoin Sets Record $93,000 High As Extreme Greed Level Hits 84 “Its impossible to ignore that retail trading is fully back, with Dogecoin surging, high funding rates, and a spike in Google searches for Bitcoin,” notes the analyst. BTC Price Bitcoin has seen a bit of a setback in the past day as its price has now dropped to the $88,300 level. Featured image from Dall-E, IntoTheBlock.com, CryptoQuant.com, chart from TradingView.com
Bitcoin is holding strong above $67,000 after setting a new local high of around $68,300, fueling excitement among investors. This bullish momentum is driven by price action and supported by key market data signaling a potential uptrend continuation. Related Reading: Dogecoin Buy Signal Hints At Upside As Funding Rate Keeps Rising Daan, a top crypto analyst, shared crucial insights showing that Bitcoin ETFs have been buying heavily for the past four days. This surge in institutional demand is a positive signal for the market, as it could further propel Bitcoin toward new all-time highs. The next few days will be critical for Bitcoins trajectory, with many traders and investors eyeing a potential breakout to historic levels. The anticipation grows as BTC edges closer to these highs, making the upcoming price movements pivotal in shaping the markets direction. Bitcoin Demand Rising The whole market is buzzing with excitement and volatility, with Bitcoin leading the way by establishing a clear uptrend since early September. Analysts and investors are attributing part of this surge to the Federal Reserves recent interest rate cuts, but other significant factors influence Bitcoins price action. Key data shared by Daan, a top crypto analyst, reveals that Bitcoin ETFs have seen substantial inflows over the past week. The last four trading days alone have witnessed a combined $1.639 billion in inflows, making this week one of the most successful since the inception of Bitcoin ETFs. This surge in institutional demand signals that traditional investors are increasingly confident in Bitcoins future, driving up demand and boosting the price. Despite the current optimism, there is caution among market observers. Historically, periods of heightened excitement and euphoria in the market are often followed by price retracements or consolidation. Related Reading: Analyst Forecasts XRP Bullish Breakout A 1,000% Opportunity? Bitcoin tends to mark local tops when sentiment peaks, which could signal a cooling-off period before the next major move. Investors are closely watching for signs of a potential pullback or whether Bitcoin will continue to climb toward new all-time highs in the weeks ahead. Key Levels To Watch Bitcoin is trading at $67,000 after a 2% retrace from its recent local top at $68,388. Despite this slight pullback, the price is holding firmly above the previous high of $66,500, signaling a strong consolidation phase that could set the stage for another move higher. For the bullish momentum to continue, BTC must maintain its position above $66,500. If it does, the price could soon push toward new highs. However, if Bitcoin fails to hold above this critical level, a healthy retrace to the daily 200-day moving average (MA) would still indicate strength in the market. The 200-day MA has historically been a reliable support level during uptrends, providing a foundation for further gains. Related Reading: Solana Targets $160 Resistance As TVL Hits New Yearly Highs If the price falls below the 200-day MA, a deeper correction to $60,000 is likely. This level represents significant demand and could offer another buying opportunity before the next leg. Featured image from Dall-E, chart from TradingView
Bitcoin surged over 5% yesterday, following a positive day across the crypto market. This sudden price boost has sparked optimism among investors and analysts, anticipating even bigger gains in the coming months. Market sentiment is improving alongside price action, fueling hopes for a sustained rally. Key data from CryptoQuant suggests that Bitcoin demand is rising, supporting [...]
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