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Tag: bitcoin technical analysis

  • Bitcoin Price Update: Key Drivers That May Keep The Bull Run Alive Until Q2 2026

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    The Bitcoin price has recently experienced a significant uptick in volatility, positively impacting its performance as it recovered to $110,000 after opening the week at $107,000. 

    Despite this, Bitcoin’s struggle to maintain momentum near all-time high levels, combined with increasing selling pressure over the past month, has led some to speculate that the current bull run may have peaked.

    Analysts at The Bull Theory, on the other hand, have identified key indicators suggesting a shift in Bitcoin’s traditional four-year cycle, with potential for the ongoing bullish trend to extend into 2026. 

    Anticipating Bitcoin Price Peak In Q2 2026

    In a post on social media platform X (formerly Twitter), the analysts explained that the typical Bitcoin price pattern has historically followed a straightforward rhythm: Halving, a 12–18 month rally, a blow-off top, and then a bear market. This pattern has held true for over a decade, but recent data indicates a significant change.

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    According to their analysis, Bitcoin is transitioning from a four-year cycle to a five-year cycle, with the next peak anticipated around the second quarter of 2026. This change is attributed to deeper structural shifts within the global economy. 

    Governments are increasingly rolling over debt for longer periods, business cycles are extending, and liquidity waves are moving through the financial system at a slower pace.

    The daily chart shows BTC’s volatility on the rise with a new surge on Thursday above $110,000. Source: BTCUSDT on TradingView.com

    One key factor pointed by the analysts influencing this lag is that when central banks cease tightening their monetary policies, it typically takes 6 to 12 months for liquidity to reach the markets. 

    The easing signals from Federal Reserve (Fed) Chair Jerome Powell in the third quarter of 2025, such as indications of ending balance-sheet contraction, are expected to impact markets well into early 2026, rather than having an immediate effect.

    Additionally, this delay is evident outside the US China’s money supply (M2) has surged to more than double that of the US and continues to expand. Historically, when China’s liquidity grows faster than that of the US, the Bitcoin price tends to rally a few months later, thereby extending the cycle into the first half of 2026. 

    Japan’s new Prime Minister has also initiated an economic package aimed at combating inflation, which is expected to further contribute to global liquidity. 

    On-Chain Data Shows Institutional Accumulation 

    This current cycle is also characterized by institutional accumulation rather than retail hype. Spot exchange-traded funds (ETFs), corporate treasuries, and funds are gradually purchasing and holding Bitcoin for extended periods. 

    Despite the current market conditions, retail interest in Bitcoin remains subdued, with Google Trends showing significantly lower search interest compared to 2021 levels. 

    This indicates that the market is currently in a phase of quiet expansion rather than widespread mania, and retail euphoria—which typically signals the end of market cycles—has yet to materialize.

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    On-chain data supports this mid-cycle structure, revealing that institutions continue to accumulate Bitcoin, exchange reserves are near multi-year lows, and miner selling pressure has diminished since the Halving event. 

    Bitcoin price
    Bitcoin reserve on exchanges drop to historical lows. Source: The Bull Theory on X

    While the four-year Halving model remains relevant, the analysts assert that it is now being reshaped by macro liquidity dynamics, institutional pacing, and elongated global cycles. Consequently, the true peak of this bull run may align more closely with Q2 2026 rather than 2025.

    Featured image from DALL-E, chart from TradingView.com 

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    Ronaldo Marquez

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  • Bitcoin Bull Run Coming To An End: Cycle Peak Countdown Signals 99.3% Completion

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    After a turbulent few days, Bitcoin (BTC) has resumed its downtrend, currently retracing toward $111,000. This marks a 12% decline from its recent peak of $126,000, which raises concerns among market experts who suggest that the bull run may be closer to its end than many investors believe.

    End Of Bitcoin Bull Cycle Within Nine Days?

    On October 14, market analyst CryptoBirb, took to social media platform X (formerly Twitter) to assert that the bullish cycle is nearing its conclusion, stating that it may end within the next nine days. 

    He referenced the Cycle Peak Countdown indicator, which suggests that Bitcoin is 99.3% through its current cycle, having lasted 1,058 days. According to CryptoBirb, this final stage is characterized by a “textbook shakeout of weak hands,” a common pattern observed before market peaks. 

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    CryptoBirb emphasized that October 24 serves as a critical target date, just nine days away, and labeled the recent crash as “right on schedule.” He further explained that the market is deep within the peak zone, with 543 days elapsing since the last Bitcoin Halving, exceeding the historical peak window of 518 to 580 days. 

    Bitcoin price performance after its Halving. Source: CryptoBirb on X

    The sentiment in the market also appears to have shifted dramatically, with the Fear & Greed Index plummeting from 71 to 38, indicating a reset from fear to euphoria. The Relative Strength Index (RSI) also dropped from 67 to 47, suggesting that this emotional washout may create an ideal launchpad for a final euphoric surge. 

    However, technical indicators show mixed signals: while the Average True Range (ATR) has expanded to 4,040, indicating higher volatility, the RSI’s position at 47 suggests a reset momentum. 

    What On-Chain Metrics Suggest

    Institutional investors have also begun to shift their strategies, as evidenced by recent Bitcoin Exchange-Traded Fund (ETF) flows, which reversed from $627 million in inflows to $4.5 million in outflows. 

    Ethereum ETF outflows reached $174.9 million, indicating that smart money is taking profits before retail investors potentially fear of missing out (FOMO) in. CryptoBirb asserts that this behavior aligns with a classic distribution-to-accumulation transition.

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    On-chain metrics reflect a cooling market, with the Net Unrealized Profit/Loss (NUPL) dropping to 0.522 from 0.556, and the Market Value to Realized Value (MVRV) declining to 2.15 from 2.45. These profit-taking actions may be creating the necessary space for a final euphoric push. 

    When examining October’s performance, Bitcoin is down 2.09% month-to-date, contrasting sharply with its historical average of a 19.78% increase. This underperformance could actually be a bullish sign, suggesting that a significant move may still be on the horizon in the final weeks of the month.

    In summary, the current cycle appears to be 99.3% complete. It has already spent 25 days in the peak zone and experienced a reset in sentiment and institutional distribution, as well as weak performance in October. However, if the analyst’s thesis proves right, this blending could turn into a perfect storm for a final surge before entering a new crypto winter. 

    Bitcoin
    The daily chart shows BTC’s increased volatility met with major price swings. Source: BTCUSDT on TradingView.com

    Featured image from DALL-E, chart from TradingView.com 

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    Ronaldo Marquez

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  • Bitcoin Jumps 22% Post-Fed Rate Cut, Yet Key Resistance Sparks Crash Fears – Bitfinex

    Bitcoin Jumps 22% Post-Fed Rate Cut, Yet Key Resistance Sparks Crash Fears – Bitfinex

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    Bitcoin (BTC), the world’s largest cryptocurrency, has rallied over 22% in the past two weeks to trade at around $63,200, following a significant drop to $52,000 on September 6. This is the highest level BTC has reached in almost two months.

    Critical Resistance At $65,200 Looms

    According to a recent report from digital asset trading platform Bitfinex, this price increase was largely driven by the Federal Reserve’s (Fed) decision to cut interest rates, which helped propel BTC to a new local high of $64,200 on September 20. 

    However, despite this positive momentum, Bitcoin is still just below a critical resistance level of $65,200, established on 25 August. The report notes that a failure to breach this level could confirm a worrying trend that has characterized BTC’s price action since its all-time high of $73,666 in March.

    Since that peak, Bitcoin has repeatedly struggled to break previous highs before forming new local lows, indicating a persistent downtrend. This pattern of lower and lower highs is evident on the daily Bitcoin chart, suggesting that the cryptocurrency has been on a downward trajectory since mid-March.

    As seen on the daily BTC/USDT chart above, this repeated price action has been characterized by a sustained and continuous downtrend since the March peak. 

    Nonetheless, further volatility fueled by macroeconomic fears triggered another crash on August 5. BTC hit its lowest level in six months, down to the $49,000 level from the $70,000 level it had been trading at since late July.

    What Drove Bitcoin Recent Gains?

    One notable concern that Bitfinex finds is the discrepancy between BTC’s price gains and open interest in future markets. As BTC rose, open interest rose even faster, reaching $19.43 billion – up from $18.93 billion on August 25- while the Bitcoin price remained around $1,000 below its local high. 

    This divergence suggests that much of the recent price movement may be driven by speculative trading in futures and perpetual contracts rather than strong demand in the spot market.

    Earlier this month, Bitfinex observed that Bitcoin’s rise to around $62,000 was largely fueled by robust spot market buying, in stark contrast to the current situation. 

    While this trend in open interest might suggest increased speculative interest in Bitcoin, it does not directly imply bearishness. The report states that open interest is not a definitive measure of leverage in the market; it merely reflects the total value of outstanding contracts.

    Finally, the report suggests that this renewed speculative interest could be beneficial as traders return from their summer holidays and reassess their positions following the rate cut. However, Bitfinex does note that in the absence of clearer indicators of sustained bullish momentum, market participants should remain cautious. 

    Featured image from DALL-E, chart from TradingView.com

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    Ronaldo Marquez

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  • Parabolic Rally In The Making? Bitcoin Regains $70,000 As Traders’ Paper Profits Collapse To 3%

    Parabolic Rally In The Making? Bitcoin Regains $70,000 As Traders’ Paper Profits Collapse To 3%

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    The world’s largest cryptocurrency, Bitcoin (BTC), has been consolidating over the past week, trading between $67,000 and $70,000 after experiencing a brief 20% price correction that sent it as low as $56,400 in early May. 

    This consolidation period comes as inflows into the US spot Bitcoin ETF market have reignited, and selling pressure appears to have cooled off, both in the ETF market and among Bitcoin investors more broadly.

    Bitcoin Selling Pressure Fades

    According to Julio Moreno, head of research at on-chain market analytics firm CryptoQuant, the current Bitcoin price level of $70,000 differs from when it last reached that mark in March. 

    Moreno notes that traders are now exerting much lower selling pressure, as unrealized profits are only around 3%, compared to 69% in early March. This suggests that much of the “heavy selling” has been exhausted, as seen in the chart below.

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    Unrealized gains for BTC holders are only 3%. Source: Julio Moreno on X

    Santiment data also shows that Bitcoin has once again eclipsed a $70,000 market capitalization, even as the US stock market took a hiatus for the Memorial Day holiday. 

    Market intelligence platform Santiment sees this as an encouraging sign, as it demonstrates BTC’s ability to perform positively on days when it is not closely correlated with the primary stock market, which has been the case for much of 2022.

    Final Pre-Breakout Consolidation Phase

    Despite this positive momentum, crypto analyst Rekt Capital has noted that Bitcoin’s latest weekly candle closed below the range high resistance of its ongoing “re-accumulation” phase, which spans roughly $60,000 to $70,000.

    This likely sentences the leading cryptocurrency to further consolidation within this range, aligned with Rekt Capital’s thesis that two phases remain in the current bull cycle: the post-halving re-accumulation phase and the “parabolic rally phase.”

    Historically, Bitcoin has tended to consolidate around all-time highs before embarking on the most illustrative stretch of its bull cycles. According to the analyst, Bitcoin has indeed been consolidating at these highs for quite some time now, especially by the standards of previous cycles. 

    While there is still room for further sideways trading at these elevated price levels, the time remaining in this phase is slowly running out. This leads to the belief that the long-awaited post-Halving rally, coupled with renewed investor sentiment, is poised to take the largest cryptocurrency on the market to even higher levels than the current $73,700 reached in mid-March.

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    As such, Bitcoin appears to be entering a critical juncture in its current bull cycle. The consolidation and re-accumulation that has dominated the market in recent months could soon give way to the next parabolic surge, should historical patterns hold. 

    Bitcoin
    The 1-D chart shows BTC’s price consolidation. Source: BTCUSD on TradingView.com

    As of now, BTC has gained 2% in the past 24 hours, adding to its 10% positive movement in the past month alone. Bitcoin is currently trading at $70,200. 

    Featured image from Shutterstock, chart from TradingView.com

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    Ronaldo Marquez

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  • The $86,500 Bitcoin Question: Will The Halving Spark A Price Surge This April?

    The $86,500 Bitcoin Question: Will The Halving Spark A Price Surge This April?

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    The cryptocurrency market has undergone a substantial downturn, with many of the top 100 cryptocurrencies experiencing sharp price drops. Bitcoin, the leading digital asset, hit a low of $61,600 on Tuesday. 

    However, industry experts suggest a potential rebound to higher highs may be on the horizon as the highly anticipated Halving event draws near. 

    Adrian Zduńczyk, a crypto trader and technical analyst, provides valuable insights into the market dynamics, highlighting key factors such as bull market indicators, ETFs, and the imminent Halving event.

    Mixed Signals For BTC

    According to Zduńczyk’s analysis, the market exhibits bullish signs, with the 200-week and 50-week moving averages (MAs) at $33,700  and $39,900, respectively. 

    The Net Unrealized Profit/Loss (NUPL) ratio is 0.55, indicating a favorable trading environment. Additionally, the 7-week correlation with the S&P 500 (SPX) remains firm at 0.71. 

    In terms of daily trends, Zduńczyk notes that Bitcoin is currently in a choppy range between $59,000 and $74,000, with the 200-day Simple Moving Average (SMA) rising at $46,600 and the 200-day Bitcoin Production Cost (BPRO) rising at $57,700. 

    However, the analyst notes that the medium-term momentum is declining, and the 50-day Average True Range (ATR) volatility has increased to $3270. This suggests that Bitcoin’s overall price trend is losing strength or momentum in the medium-term timeframe.

    Bitcoin Aims For $86,500

    Zduńczyk highlights the market sentiment. The Fear & Greed Index is at 65, indicating a state of greed among market participants. The analyst notes that the current phase of the market cycle is characterized by belief. 

    Moreover, miners are still profitable at prices above $41,800, and as mining difficulty rises post-Halving, a price spike is expected. 

    Notably, previous Halving events have triggered substantial price rallies, with Bitcoin experiencing significant gains of 90X, 30X, and 7X. Importantly, Bitcoin has never returned to Halving prices after these rallies.

    Examining seasonality trends, the monthly opening price for April stands at $71,000, suggesting a positive outlook for the month. The average gain for April is estimated at 21.95%, implying an end-of-month target of $86,500, according to Zduńczyk. 

    Moreover, the period from April 16 to 30 has historically seen average gains of 14.69%, further reinforcing positive expectations and further price gains for BTC during the upcoming weeks. According to Zduńczyk, this timeframe could attract investors seeking to buy the dip. 

    The 1-D chart shows that BTC’s price is trending downward. Source: BTCUSD on TradingView.com

    Despite the overall positive outlook, BTC is trading at $62,600, reflecting a consistent decline over the past month. In the last 30 days, BTC has experienced a 9% drop from its mid-March all-time high of $73,700.

    Moreover, in its quest for new highs and surpassing the $80,000 threshold, BTC has encountered a significant obstacle at the $70,000 level. Despite surpassing its all-time high, BTC has struggled to consolidate above this level for over a week.

    Nonetheless, as emphasized by Zduńczyk, the potential synergy between the success of the ETF market in the United States and the upcoming Halving event may hold the key to revitalizing BTC’s price trajectory. 

    Featured image from Shutterstock, chart from TradingView.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Ronaldo Marquez

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  • Expert Analysis: Bitcoin ‘Bottom Is Not In’, Potential $30K Retest On The Horizon

    Expert Analysis: Bitcoin ‘Bottom Is Not In’, Potential $30K Retest On The Horizon

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    Bitcoin (BTC), the largest cryptocurrency by market capitalization, closed January above the $40,000 threshold, signaling positive price action. However, market expert Justin Bennett suggests that Bitcoin’s bottom has yet to be reached. 

    Bennett’s analysis highlights the possibility of further price declines, with Tether’s stablecoin USDT dominance (USDT.D) chart indicating potential downward movements. 

    Tether Dominance Signals Concerns For BTC’s Price

    Bitcoin’s recent price recovery and ability to surpass the $40,000 level have provided optimism among investors. Nevertheless, Bennett believes further price declines could follow a retest of the mid $44,000 range. 

    Bennett highlights the inverse relationship between Tether dominance and Bitcoin. According to his analysis, the levels on the Tether dominance chart since October have been reliable indicators for Bitcoin’s price movements. 

    Tether’s USDT dominance growth. Source: Justin Bennett on X

    According to Bennett’s analysis, as depicted in the chart above, Tether’s dominance may experience a potential increase from its current level of 6%. This increase could bring it closer to the 8% mark. 

    In such a scenario, Bitcoin’s performance would likely move in the opposite direction, indicating potential price declines soon.

    On January 25, Bennett suggested that Bitcoin could drop another 20% from its current levels, which would place it around $30,000. If this scenario plays out, it would be crucial for Bitcoin bulls to defend the $30,000 level to maintain the current bullish structure.

    A drop below $29,000 would give bears a stronger position, with only three major support lines remaining at $28,400, $25,900, and $24,000 before a potential retest of the $20,000 mark. 

    The performance of these support levels and Bitcoin’s ability to withstand increased selling pressure will be key factors to monitor. The future market sentiment will also play a significant role in determining Bitcoin’s price trajectory.

    Bitcoin Witnesses Stellar Accumulation Trend

    Despite the possibility of further price drops, renowned crypto analyst Ali Martinez has shed light on a notable trend in BTC’s recent accumulation streak by investors.

    According to Ali Martinez’s analysis, Bitcoin is experiencing a significant accumulation streak, rivaling some of the most notable periods observed over the past few years. 

    The Accumulation Trend Score, a metric that gauges the buying activity of larger entities, has remained consistently high, hovering near 1 for the past four months.

    Bitcoin
    BTC’s Accumulation Trend Score is trending to the upside. Source: Ali Martinez on X

    This suggests that influential market participants are actively accumulating Bitcoin, signaling their confidence in the long-term potential of the cryptocurrency. 

    Martinez’s observations further indicate that Bitcoin’s price range around $42,560 has emerged as a highly significant interest zone. 

    Within this range, an impressive total of 912,626 BTC has been transacted. This is expected to be a significant support level, potentially preventing further downside movements and fostering increased buying interest.

    These trends collectively contribute to a positive market outlook, suggesting that despite potential price drops, Bitcoin remains an attractive asset for long-term investment.

    Bitcoin
    The daily chart shows BTC’s sideways price action between $42,900 and $43,000 over the past 24 hours. Source: BTCUSDT on TradingView.com

    Featured image from Shutterstock, chart from TradingView.com 

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Ronaldo Marquez

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  • Grayscale Transfers Almost 12,000 BTC To Coinbase, Bitcoin Price Reacts

    Grayscale Transfers Almost 12,000 BTC To Coinbase, Bitcoin Price Reacts

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    In a significant development that could potentially impact the Bitcoin price, Arkham Intelligence data reveals that Grayscale, the manager and owner of the Grayscale Bitcoin Trust (GBTC), has been sending a significant amount of Bitcoin to Coinbase since the launch of Bitcoin spot exchange-traded funds (ETFs) on January 12.

    Grayscale Bitcoin Trust Initiates Substantial BTC Outflow

    According to the data, four days ago, Grayscale initiated the first batch of BTC outflows from their holdings to the US-based exchange in four separate batches, totaling 4,000 BTC, which amounted to approximately $183 million. However, the asset manager resumed outflows from the Trust to the exchange on Tuesday.

    A portion of Grayscale’s transfers to Coinbase. Source: Arkham

    In a recent update, approximately three hours ago, the asset manager sent an additional 11,700 BTC to Coinbase, amounting to $491.4 million. This additional selling pressure could push the Bitcoin price to test lower support levels.

    Furthermore, Bloomberg reports that investors have withdrawn over half a billion dollars from the Grayscale Bitcoin Trust during the initial days of trading as an ETF. 

    According to Bloomberg’s data, outflows from the Grayscale Bitcoin Trust reached approximately $579 million, while the other nine spot Bitcoin ETFs witnessed inflows totaling nearly $819 million.

    Investors Shift Capital To ‘Lower-Cost’ Spot Bitcoin ETFs

    James Seyffart, an ETF analyst at Bloomberg Intelligence, noted that investors may be profit-taking following the ETF conversion. The flow data provides valuable insights into the ETF’s performance following SEC approval. 

    Although over $2.3 billion of GBTC shares were traded on its first day, the outflows indicate that a portion of that volume was due to selling. Seyffart anticipates that a significant amount of capital will enter other Bitcoin exposures.

    The outflows from Grayscale’s ETF were somewhat expected. Bloomberg Intelligence had previously projected that the fund would experience outflows of over $1 billion in the coming weeks. 

    Some of this outflow can be attributed to investors shifting towards more cost-effective spot Bitcoin ETFs. With an expense ratio of 1.5%, GBTC is the most expensive US ETF directly investing in Bitcoin. In contrast, the VanEck Bitcoin Trust, the second-most expensive fund, charges 0.25%.

    On the other hand, other spot Bitcoin ETFs have witnessed net inflows. BlackRock’s IBIT attracted nearly $500 million in the first two days of trading, while Fidelity’s FBTC received approximately $421 million. 

    According to Bloomberg, these inflows suggest strong demand for Bitcoin exposure in physically backed ETFs, even beyond potential seed funding from the fund issuers.

    Bitcoin Price Finds Support At $42,000

    Currently, the Bitcoin price remains unaffected by the news of Grayscale’s transfers to Coinbase. The leading cryptocurrency is trading at $43,100, showing a slight increase of 0.8% over the past 24 hours.

    However, since the commencement of ETF trading, it is important to note that the Bitcoin price has experienced a significant retracement, declining by 8%. This decline can be attributed to profit-taking and selling pressure, with Grayscale’s involvement being noteworthy.

    In the event of a further drop in the Bitcoin price, a significant support level has been established at $42,000. If this level is breached, the next key level for Bitcoin bulls to watch is $41,350, followed by a potential dip below $40,000.

    The market is eagerly observing whether Grayscale and its BTC selloff will continue and how this will impact the Bitcoin price leading up to the scheduled halving event in April, which many consider to be the main catalyst for the year.

    Bitcoin price
    The daily chart shows BTC’s valuation at $43,100. Source: BTCUSDT on TradingView.com

    Featured image from Shutterstock, chart from TradingView.com 

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Ronaldo Marquez

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  • Bitcoin Price Suffers Post-Spot ETF Blues, Drops 7% To $43,200

    Bitcoin Price Suffers Post-Spot ETF Blues, Drops 7% To $43,200

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    The introduction of Bitcoin (BTC) exchange-traded funds (ETFs) has triggered a significant sell-off, leading to a sharp decline in the Bitcoin price.

    After gaining approval and commencing trading on Thursday, the ETFs have prompted a “sell the news” event, causing Bitcoin’s value to plummet from its initial trading price of $46,500 at the time of approval to a low of $43,200 within a matter of hours on Friday.

    Over the past 24 hours, Bitcoin, the largest cryptocurrency by market capitalization, has experienced a 7% drop. Its gains over the past 30 days have been limited to a mere 4%, erasing much of the progress made during that period. 

    Additionally, as selling pressure continues to mount following the approval, there are indications that the Bitcoin price may face further downward pressure.

    Bitcoin Price Under Pressure

    CryptoQuant analyst J.A. Maartunn observed significant sell orders in Bitcoin’s two-week chart on Wednesday. Notably, three clusters of sell orders were positioned between $46,100 and $48,000, comprising stacks of 755, 1,031, and 794 BTC, respectively.

    According to the CryptoQuant analyst, such patterns are typically associated with market tops, unless these orders are later withdrawn or executed.

    This influx of sell orders may help explain the lackluster response to the ETF approvals until now, as it appears that selling pressure has been building up. However, the situation has intensified even further. 

    According to Maartunn, additional sell orders were detected on Friday, indicating that the seller is not yet finished. Two substantial sell orders have been placed just above the current Bitcoin price: one for 894 BTC at $44,000 and another for 1,071 BTC at $45,100.

    Sell orders placed in BTC’s 2-week chart since Wednesday. Source: Maartunn on X

    These developments suggest that market participants are taking advantage of the ETF news to offload their Bitcoin holdings, leading to increased selling pressure and a subsequent price decline. 

    The market’s stabilization following this period of heightened selling pressure remains uncertain. The introduction of ETFs was believed to bring about heightened institutional interest and potentially drive up the Bitcoin price. 

    However, it is important to note that the impact of these ETFs is expected to unfold over the long term, rather than being evident within days, weeks, or even months. It will likely take years to fully gauge the effects and consequences of ETF integration on the Bitcoin market.

    Bitcoin’s Bullish Structure Remains Intact

    Amidst the ongoing selling pressure, several support lines may potentially halt the downtrend and bring positive news for the Bitcoin price and BTC bulls.

    Although Bitcoin has already lost its $44,000 support level, there is another crucial threshold at $42,700 that could prevent further decline. If this level holds, there is a chance for Bitcoin to regain the $43,000 mark and reverse the downward momentum.

    Bitcoin price
    The daily chart shows BTC’s price drop. Source: BTCUSDT on TradingView.com

    If the $42,700 support is breached, additional support lines come into play. These include $42,300, $41,700, and $41,200, which act as the last barriers before a potential test of the $40,000 support level. The $40,000 mark holds significance as it represents the final support before a potential dip towards $38,000.

    However, there is a positive aspect for Bitcoin bulls to consider. The current bullish structure of the cryptocurrency remains intact as long as the dip does not breach the $29,900 mark.

    This level marked the beginning of the current bullish uptrend, and its preservation would ensure the maintenance of the overall positive market structure.

    Featured image from Shutterstock, chart from TradingView.com 

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Ronaldo Marquez

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  • Bitcoin Price Analysis: Ascending Parallel Channel Pattern Points To $57,000 Target

    Bitcoin Price Analysis: Ascending Parallel Channel Pattern Points To $57,000 Target

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    As anticipation builds around the potential approval or rejection of spot Bitcoin (BTC) exchange-traded funds (ETFs) by the US Securities and Exchange Commission (SEC) on January 5, the Bitcoin price has witnessed a notable 2.7% recovery in the past 24 hours. 

    This development comes amidst growing speculation about the patterns that could drive the Bitcoin price to reclaim the highs lost during the bear market in 2022. 

    Notably, crypto analyst Ali Martinez has identified an ascending parallel channel as the governing pattern behind the Bitcoin price action since September 2023.

    Bitcoin Price Faces Crucial Test At $48,000

    According to Ali Martinez’s analysis, Bitcoin prices have exhibited a consistent pattern known as an ascending parallel channel. 

    This technical formation suggests that the BTC’s price has been trading within the confines of a channel characterized by an upper and lower boundary, as seen in the chart below.

    BTC’s ascending parallel channel pattern targets. Source: Ali Martinez on X

    BTC could experience further price movement within the defined boundaries if the ascending parallel channel pattern holds. 

    The price is expected to advance toward the upper boundary, which currently resides around $48,000. However, the Bitcoin price is anticipated to face resistance at this level and retrace towards the lower boundary at approximately $34,000. 

    Following the retracement, a rebound toward the upper boundary, potentially reaching around $57,000, could be expected.

    The upcoming decision by the SEC regarding spot Bitcoin ETF applications adds a layer of significance to Bitcoin’s price movement. The approval of Bitcoin ETFs has been a subject of great interest within the cryptocurrency community, as it can enhance liquidity and provide greater legitimacy to the cryptocurrency market. 

    While the outcome of the SEC decision remains uncertain, the ascending parallel channel pattern reveals a compelling technical perspective that could impact Bitcoin’s price trajectory.

    Critical Moment For BTC? 

    Supporting the upside potential of the Bitcoin price in Martinez’s analysis, crypto analyst Rekt Capital highlights the importance of BTC’s ability to establish a strong support level at $43,900.

    According to Rekt Capital’s analysis, Bitcoin is exhibiting promising signs as it strives to reclaim the top of the pattern at $43,900 as a support level. 

    Bitcoin
    Bitcoin’s price currently surpassing its nearest $43,900 resistance. Source: Rekt Capital on X

    This level holds importance in determining the cryptocurrency’s ability to sustain upward momentum. Rekt Capital suggests that a daily candle close above this resistance is essential for Bitcoin to make another attempt at moving higher.

    The successful establishment of $43,900 as a support level and a daily candle close above this resistance would signify a positive development for Bitcoin’s upside potential. 

    It would indicate a renewed bullish sentiment and potentially pave the way for further price appreciation. However, failure to overcome this resistance level and ending up as an upside wick could hinder Bitcoin’s ability to sustain upward momentum in the short term.

    Bitcoin price
    The daily chart shows BTC’s price recovery. Source: BTCUSDT on TradingView.com

    On Wednesday, Bitcoin trades at $44,000, followed by a news-driven dip toward the $40,800 level.

    Featured image from Shutterstock, chart from TradingView.com 

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Ronaldo Marquez

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  • Bitcoin Price Surges On Positive News: FASB's Fair Value Recognition Reignites $42,000 Support Recovery

    Bitcoin Price Surges On Positive News: FASB's Fair Value Recognition Reignites $42,000 Support Recovery

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    The Bitcoin price experienced a notable downturn as selling pressure intensified, resulting in a decline of over 4% from its annual peak of $44,500. This downturn was further exacerbated by the loss of the crucial $42,000 support level. 

    However, the largest cryptocurrency in the market received a substantial uplift from the US Financial Accounting Standards Board (FASB), which has spurred a rapid 1.8% surge in BTC’s value within the past two hours. As a result, Bitcoin has successfully recovered the $42,000 support level.

    FASB’s Fair Value Recognition Brings Clarity To BTC?

    In a significant development for the cryptocurrency industry, the FASB has announced new accounting rules that require companies, including prominent entities like MicroStrategy, Tesla, and Block, to measure their cryptocurrency holdings at fair value. 

    These rules, set to go into effect in 2025, allow businesses to capture the real-time highs and lows of their Bitcoin and Ethereum (ETH) assets, providing a more accurate representation of their holdings.

    Under the previous accounting practices, companies were only allowed to record the lows, resulting in a one-sided accounting treatment that often led to reduced valuations and diminished earnings for businesses holding cryptocurrencies. The highly volatile nature of crypto values further exacerbated the issue.

    The FASB’s new rules address these concerns by mandating the recording of cryptocurrencies at fair value, a measurement technique aimed at reflecting the most up-to-date value of these assets. 

    Changes in fair value will now be recorded in net income, allowing companies to account for fluctuations in the value of their crypto holdings more comprehensively.

    The positive news for BTC lies in the fact that the new FASB rules provide greater transparency and accuracy in assessing the true value of cryptocurrency assets. By capturing fluctuations in fair value, companies will have a more realistic representation of their holdings, enabling better decision-making and financial reporting.

    Bitcoin, being the most widely recognized and valuable cryptocurrency, stands to benefit significantly from these changes. The recognition of its fair value allows companies to showcase the true worth of their BTC holdings, potentially boosting investor confidence and attracting further institutional interest.

    Turbulent Times Ahead For Bitcoin Price

    Following these recent developments, the Bitcoin price has successfully rebounded to previously lost levels, demonstrating heightened volatility after a brief consolidation phase just below $42,000.

    However, according to CoinGlass’ liquidation heatmap, Bitcoin’s price may be facing further volatility that could lead to a significant amount of liquidation of both long and short positions. 

    BTC’s 3-day liquidation heatmap. Source: CoinGlass on X.

    The liquidation heatmap from CoinGlass highlights substantial indications of liquidation leverage exceeding $200 million both above and below the current Bitcoin price. 

    Of particular concern is the thick liquidation leverage below $41,000, as seen in the chart above, which, combined with the prevailing trend, could become a probable target for the Bitcoin price in the coming days.

    Conversely, following BTC’s correction, additional liquidation leverage has emerged in CoinGlass’s heatmap, particularly in the $42,000 and $43,000 range of short positions. This added selling pressure has contributed to the retracement of the Bitcoin price.

    This potential scenario suggests a potential price swing up and down before a stable continuation of either the downward or upward momentum. The outcome remains uncertain as to which side will give way first and what prevailing trend will shape the latter part of the year.

    Bitcoin price
    The daily chart shows BTC’s $42,000 support recovery. Source: BTCUSDT on TradingView.com

    Featured image from Shutterstock, chart from TradingView.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Ronaldo Marquez

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  • Crypto Market Cap Soars: $1.5 Trillion Milestone Achieved, Bitcoin Sets New Record

    Crypto Market Cap Soars: $1.5 Trillion Milestone Achieved, Bitcoin Sets New Record

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    Bitcoin (BTC) and the cryptocurrency market have seen a significant uptrend, hitting a new annual high and surpassing $1.45 trillion, paving the way for potential gains in the final days of November.

    Notably, BTC, the largest cryptocurrency in the market, has achieved a remarkable milestone, approaching the $40,000 level with a price surge to $38,400. 

    The catalysts behind this recent surge include the anticipated acceptance of the BlackRock Bitcoin Spot exchange-traded fund (ETF) within the next 45 days and speculation that BlackRock itself may influence Bitcoin’s price through significant buying pressure on Coinbase.

    BlackRock Driving BTC’s Recent Price Surge? 

    According to CoinGecko, the global cryptocurrency market cap currently stands at $1.5 trillion, reflecting a 2.05% change in the last 24 hours and an impressive 72.26% change compared to the same period last year. 

    This surge in market capitalization has not only boosted Bitcoin but has also contributed to gains in other major cryptocurrencies within the Top 100, such as Blur (BLUR), which soared a staggering 27%, Mina Protocol (MINA), which gained 9%, and Bittensor (TAO), which has seen a 14% surge in the last 24 hours, to name a few.

    Regarding the recent surge of BTC to a new yearly high, crypto expert known by the pseudonym “Crypto Rover” has shed light on potential catalysts driving the recent surge. According to Rover, the BlackRock Bitcoin Spot ETF launch is expected to occur within the next 45 days.

    In this regard, Rover’s analysis suggests that BlackRock, the world’s largest asset manager, may play a role in Bitcoin’s recent surge. The speculation is based on the observation that a significant amount of Bitcoin buying pressure appears to be coming from Coinbase, the largest cryptocurrency exchange in the United States, with the platform serving as BlackRock’s custodial partner. 

    Promising Bitcoin Price Targets For Late 2025

    Renowned crypto analyst Crypto Con has unveiled what he claims to be the most accurate Log Regression Curves for Bitcoin to date. These curves have provided insights into the future cycle top, an elusive aspect of Bitcoin analysis. 

    According to projections derived from the curve matching technique, late 2025 could witness two potential price targets for Bitcoin: $130,000, referred to as Layer 6, and Layer 7, with a target price of $180,000.

    BTC’s price targets for late 2025. Source: CryptoCon on X.

    The analyst says several models and projections support the $130,000 target, adding to its credibility. According to Crypto Con, even the most conservative estimate, known as Layer 5 at $94,000, seems less likely. 

    Based on historical trends, it is improbable that the entire red band, representing potential price ranges, would fail during this cycle. Therefore, one of the projected targets is expected to be accurate.

    Based on the available information, Crypto Con favors layer 6 at $130,000 as the more likely target for Bitcoin’s late 2025 price surge. This projection aligns with the Halving Cycles Theory, suggesting a timeframe of approximately 21 days from November 28th, 2025.

    Bitcoin
    BTC is reaching a new yearly high on the daily chart. Source: BTCUSDT on TradingView.com

    Bitcoin has undergone a recent pullback within the last hour following its attainment of a new yearly high. As of now, it is trading at $37,800.

    Featured image from Shutterstock, chart from TradingView.com 

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    Ronaldo Marquez

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  • Bitcoin Bulls Buckle Up: Seasonal Trends Point To $50,000 Target

    Bitcoin Bulls Buckle Up: Seasonal Trends Point To $50,000 Target

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    Bitcoin (BTC), the largest cryptocurrency on the market, has again failed to consolidate and reach the $38,000 level for the third time, as it is currently experiencing a 3% pullback. This has led the community to speculate that a significant retracement may occur before the bullish momentum resumes and the next uptrend begins. 

    However, renowned crypto analyst Adrian Zduńczyk has recently shed light on Bitcoin’s potential next target of $50,000. Zduńczyk’s analysis considers several crucial factors, including the prevailing bullish market sentiment, the ongoing uptrend, the short-term outlook, miner sentiment, and seasonal trends. 

    Evidence Of Dominant Bull Market

    Zduńczyk notes that the cryptocurrency industry is in a bull market, with Bitcoin reaching a new 52-week high close and experiencing the third wave of the bullish cycle. The correlation between Bitcoin and the S&P 500 has risen, indicating a favorable environment for Bitcoin. High time frame trends are also rising.

    Zduńczyk identifies key macro support levels for Bitcoin at $29,000 and $27,000, highlighting growing demand fueled by the anticipation of the approval of spot Bitcoin exchange-traded funds (ETFs) and the upcoming halving event expected in April 2024.

    Notably, the daily chart for BTC remains in an uptrend, according to Zduńczyk. He points to a target of $40,000, supported by the appearance of a “golden cross” pattern.

    Furthermore, Zduńczyk believes that the rising Simple Moving Average (SMA) 200 serves as “irrefutable evidence” of a dominant bull market since January. These indicators suggest a continuation of the upward trajectory for Bitcoin.

    Zduńczyk also identifies key support levels at $35,000 to $35,800, emphasizing that a bullish sentiment prevails as long as Bitcoin remains above these levels. 

    Zduńczyk Eyes Bitcoin November Target Of $50,000

    Currently, Bitcoin is ranging between $35,500 and $38,000, Zduńczyk notes that the momentum bands are widening, indicating an increase in volatility. The rising 50-day Average True Range (ATR) trend supports this observation.

    Fear & Greed Index stands at 69, indicating a mixed sentiment among market participants. Miners, on average, are enjoying a profit increase of 23%. Zduńczyk maintains a positive outlook based on these factors. 

    Regarding seasonal trends, October demonstrated a gain of 27%, exceeding the average performance. Historically, November has been the best month for Bitcoin, which has an average gain of 43%, with a target of around $50,000. Notably, December typically adds 7% to November’s closing price.

    BTC’s price drop on the daily chart. Source: BTCUSDT on TradingView.com

    Currently, BTC is trading at $36,400, reflecting a 5% and 22% profit over the past fourteen and thirty days, respectively. The focus now shifts to whether BTC’s price can maintain its crucial support levels and sustain its bullish uptrend, potentially reaching the $50,000 milestone supported by historical patterns.

    Featured image from Shutterstock, chart from TradingView.com 

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    Ronaldo Marquez

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