Bitcoin trading volume drops by $14 billion, will this threaten BTC's price rise?

Bitcoin remains the focus of much discussion and analysis in the crypto industry. Currently, the top cryptocurrency is trading just above the $69,000 mark, a slight increase from recent fluctuations, and has reached a 24-hour peak of $69,133.

Despite the upward trend, Bitcoin's price has not yet surpassed the peak of $73,000 in March. The price of Bitcoin has risen slightly by 0.7% in the past week and 2% in the past 24 hours.

This positioning suggests that the price of Bitcoin may rise to the 1.0σ range, which could lead to around $79,600. His analysis depends on whether Bitcoin can maintain current levels, setting the stage for a possible sharp rise.

Echoing Martinez's optimistic view, another well-known figure in the cryptocurrency trading community, MMCrypto, also published his predictions on X.

He believes that BTC could climb to $74,000 or fall to $62,200, depending on how the market moves in the coming days.

His prediction was accompanied by a chart showing a critical triangle pattern. According to MMCrypto, this pattern will disappear within 48 hours, indicating that major price fluctuations are imminent. At press time, BTC is trading at $68,899.70, with a price increase of 2.14% in the past 24 hours. Bitcoin's MVRV ratio has surged, which means that most holders have made profits in the past few days.

#BTC走势分析 #BNB突破660 #5月非农数据即将公布

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