The Bitcoin price has soared past the $71,000 mark. In the past 24 hours alone, the price of Bitcoin surged by 6.5%, climbing from just below $65,500 to reach $71,491. This remarkable rally can be attributed to a combination of factors that have collectively contributed to the upward trajectory of the world’s leading cryptocurrency. Here’s…
The cryptocurrency market recently witnessed significant liquidations, totaling over $200 million, as Bitcoin surged past the $69,000 mark. The Bitcoin price surge led to many short positions being liquidated, causing notable financial repercussions across various trading platforms. Bitcoin’s Sudden Rebound And Liquidations The data from Coinglass provide a clearer picture of the impact, showing that…
Crypto expert popularly known as KSI has shared his thoughts on how the Bitcoin price could progress until the peak of this bull cycle. Based on his prediction, the flagship crypto could experience significant dips on its way to a new all-time high of $100,000. $80,000 Could Be Next For Bitcoin KSI mentioned in an…
Here’s what the latest trend in the Bitcoin Market Value to Realized Value (MVRV) ratio suggests about where the market is currently in terms of a top. Bitcoin MVRV Ratio Has Seen A Decline To The 2.34 Level According to data from the market intelligence platform IntoTheBlock, the BTC MVRV ratio surged high earlier this…
Bitcoin, the world’s most valuable coin, is once again deviating from historical norms. According to an analysis by one crypto analyst, the coin is in the “overbought” territory of the Relative Strength Index (RSI) for the first time in the lead-up to halving. The RSI is a popular technical indicator analysts use to gauge the price momentum…
Bitcoin whales have been very active in the past few days as the crypto continues to trade below $68,000. Notably, on-chain data has shown a trend of accumulation among Bitcoin whales, with large bouts of the cryptocurrency leaving crypto exchanges into private wallets. These massive transfers appear to have piqued the interest of a few…
Data shows Bitcoin is currently retesting a major on-chain resistance level, and a break above which can potentially lead to a surge in its price. Bitcoin Has Major On-Chain Resistance Around $67,000 As pointed out by analyst Ali in a post on X, BTC may be able to see a rise towards the $72,900 level…
The on-chain analytics firm Glassnode has explained that Bitcoin tends to reach a potential top when the long-term holders show this pattern. Bitcoin Long-Term Holders Have Been Ramping Up Distribution In a new report, Glassnode discussed the influence that the BTC long-term holders have on the cryptocurrency’s supply dynamics. The “long-term holders” (LTHs) here refer…
Analysts at financial services firm Bernstein are increasing their price expectations for Bitcoin. This follows a revised report in which they boosted their year-end target for the flagship crypto token’s price. Bitcoin To Hit $90,000 By The End Of 2024 According to a report by CoinDesk, Bernstein analysts Gautam Chhugani and Mahika Sapra have raised…
A crypto analyst on X is confident that Bitcoin has bottomed and is poised for major gains in the sessions ahead. Interestingly, the bullish outlook hinges on the Bitcoin market cap retesting all-time highs at press time. Will BTC Rally? Market Dynamics Changing So far, the Bitcoin price is around 2021 highs in USD terms but recently…