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#write2earn #Bitcoin Reclaims $70K Amid #Altcoins👀🚀 Fluctuations: Market Update #solana #BTC $BTC $SOL $ETH Bitcoin has once again reached the $70,000 mark after slipping below it yesterday, struggling to firmly break through during its recovery phase. While Bitcoin made a significant move from around $64,000 to $66,000 over the weekend, it surged to $70,000 on Tuesday, kicking off the business week positively. The bullish momentum drove BTC to nearly $72,000 on Wednesday, marking a new peak in 15 days. However, this peak was short-lived as the asset faced strong resistance and dropped to $68,400 shortly after. Despite a subsequent recovery that brought it close to $72,000 again, Bitcoin faced another setback and dipped to $69,200 yesterday. Nevertheless, it has managed to reclaim most of its losses, currently hovering just above $70,000. Bitcoin's market capitalization is still around $20 billion shy of $1.4 trillion, with its dominance over alternative cryptocurrencies plateauing at 49.7% according to CoinGecko. Meanwhile, Solana (SOL) has shown strength, inching closer to $200 once more, with a nearly 6% overnight gain. TON has also seen a similar increase, pushing its value well above $5. Other cryptocurrencies like Ripple, Cardano, Avalanche, Polkadot, Chainlink, and Tron are also experiencing gains, albeit more modestly. Bitcoin Cash (BCH) continues its upward trend ahead of its second halving, now trading above $600. On the flip side, Ethereum (ETH), Binance Coin (BNB), and meme coins Dogecoin (DOGE) and Shiba Inu (SHIB) have seen slight declines. The overall crypto market cap has remained relatively stable, currently standing below $2.8 trillion.

#write2earn #Bitcoin Reclaims $70K Amid #Altcoins👀🚀 Fluctuations: Market Update #solana #BTC

$BTC $SOL $ETH

Bitcoin has once again reached the $70,000 mark after slipping below it yesterday, struggling to firmly break through during its recovery phase.

While Bitcoin made a significant move from around $64,000 to $66,000 over the weekend, it surged to $70,000 on Tuesday, kicking off the business week positively.

The bullish momentum drove BTC to nearly $72,000 on Wednesday, marking a new peak in 15 days. However, this peak was short-lived as the asset faced strong resistance and dropped to $68,400 shortly after.

Despite a subsequent recovery that brought it close to $72,000 again, Bitcoin faced another setback and dipped to $69,200 yesterday. Nevertheless, it has managed to reclaim most of its losses, currently hovering just above $70,000.

Bitcoin's market capitalization is still around $20 billion shy of $1.4 trillion, with its dominance over alternative cryptocurrencies plateauing at 49.7% according to CoinGecko.

Meanwhile, Solana (SOL) has shown strength, inching closer to $200 once more, with a nearly 6% overnight gain. TON has also seen a similar increase, pushing its value well above $5.

Other cryptocurrencies like Ripple, Cardano, Avalanche, Polkadot, Chainlink, and Tron are also experiencing gains, albeit more modestly. Bitcoin Cash (BCH) continues its upward trend ahead of its second halving, now trading above $600.

On the flip side, Ethereum (ETH), Binance Coin (BNB), and meme coins Dogecoin (DOGE) and Shiba Inu (SHIB) have seen slight declines.

The overall crypto market cap has remained relatively stable, currently standing below $2.8 trillion.

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#write2earn #bitcoin Price Analysis: Sideways Movement Signals Awaited Surge,  #BTC Hanging Out At $69,000 $BTC With its recent all-time high achieved just weeks ago, the price of Bitcoin ($BTC) is currently moving sideways, gearing up for the next significant surge into uncharted territory. Awaiting Bullish Momentum Bitcoin's price is currently hovering right around the crucial $69,000 resistance level. This level holds significance as it represents the peak of the previous bull market in 2021, acting as a magnet for price action until Bitcoin can muster the momentum to break free. ETF Outflows Tuesday saw a slight decrease in Spot Bitcoin ETFs. Following Monday's net outflow of $223 million, Tuesday's outflow reduced to just $19 million. Blackrock is steadily approaching a point where it could hold more Bitcoin than Grayscale, potentially within a few weeks. This could lead to consistent net inflows in the future. Market Sentiment Remains Bullish In the short term, the 4-hourly timeframe depicts a period of consolidation for Bitcoin. The price has retreated back inside the triangle after breaking out on Monday. Such false breakouts in either direction are common and don't necessarily indicate a trend. Currently, the price is holding onto major support, although it might retest the bottom of the triangle. There was also a brief dip below the trend line established in early February, but it can easily recover. Overall, it appears to be a waiting game. Market sentiment remains highly bullish, with the Fear and Greed Index registering 'Extreme Greed' at 78. With the halving just nine days away, excitement is building up. Bears Still Lurking However, it's wise to be prepared for potential downturns despite the bullish outlook. Certain indicators suggest Bitcoin may be oversold. Following last week's hanging man candle, the candle close this week could provide valuable insights. A close above the hanging man candle would negate a reversal and reaffirm bullish control.
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#write2earn CRYPTOCURRENCY MARKET RESEMBLES 2021 #BULLRUN AMID #BitcoinHalving HYPE $BTC $ETH $SOL Recent findings from Glassnode suggest that investor interest in cryptocurrencies has surged, reminiscent of the fervor seen during the 2021 bull run. This resurgence coincides with the approaching Bitcoin halving event, sparking anticipation of a substantial price shift in the near term. Analysis of data indicates a steady buildup of bullish momentum in Bitcoin since October 2023, leading to a period marked by heightened liquidity and volatility. Glassnode emphasizes the robust demand in spot markets, which has been instrumental in supporting Bitcoin's performance year-to-date, echoing patterns observed during the 2021 bull run. Bitcoin has witnessed a notable 62% surge in value thus far in 2024, currently standing at $68,748, with a peak at $73,750.07 on March 14. The launch of spot Bitcoin ETFs in the United States on January 11 has spurred a surge in BTC spot trading volume, reaching its zenith in March. Glassnode's analysis indicates that the market is now experiencing a state of euphoria, accompanied by a noticeable uptick in profit-taking activities. Moreover, the flow of Bitcoin in and out of exchanges has seen a remarkable uptick since July 2023. According to Glassnode's data, the average daily total inflows and outflows from exchanges currently amount to $8.19 billion, surpassing the peak observed during the 2021 bull market.
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#write2earn #SOLANA DEVELOPERS TARGET APRIL 15 FIX FOR BLOCKCHAIN TRANSACTION WOES #SolanaStruggles $SOL Solana's developers have pinpointed April 15 as their target date for addressing recent transaction problems that have been troubling the blockchain network. As per the CEO of Helius Labs, the issues affecting the blockchain stem from a bug in implementation, not a flaw in the design itself. Scheduled Fix by Solana Developers Reports indicate that a bug in implementation has led to a significant increase in transaction failures on the Solana blockchain. Developers have now confirmed their plan to roll out a fix for this bug by April 15. On April 4, more than 75% of non-vote transactions on Solana encountered failures, mainly due to the surge in network activity driven by the growing popularity of meme coins based on Solana. Although the failure rate has since dropped to 64.8%, it remains unacceptably high. Root Cause: Implementation Bug, Not Design Flaw According to Mert Mumtaz, CEO of Helius Labs, the ongoing issues with Solana result from an implementation bug rather than a fundamental design flaw. Mumtaz explained: "The current problem with Solana isn't due to a flaw in its design; it's a bug in how it's implemented. I understand that some might struggle to grasp this distinction, so let me simplify: implementation errors are typically fixable by swapping out the faulty parts, unlike design flaws which are more serious and fundamental." The CEO emphasized that, if necessary, the fix could be postponed to address other issues. He pointed out that the problem primarily relates to how Solana developers implemented QUIC, a data transfer protocol developed by Google. This protocol keeps all nodes informed about the network's current state.
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#write2earn #Bitcoin Breakout: Chart Analysis Points to Potential Surge Towards $80,000 #bitcoinchartAnalysis #BitcoinpriceAnalysis #BullorBear $BTC Bitcoin's recent price movement has broken out of a triangular consolidation pattern, indicating a potential bullish trend ahead, according to analysis by 10x Research. The breakout occurred as Bitcoin surpassed the $72,000 mark on Monday, breaching the resistance line formed by connecting the highs of March 15 and March 27, as well as the support line connecting the lows of March 20 and April 3. Markus Thielen, founder of 10X Research, suggests that if the breakout remains bullish, Bitcoin could surpass $80,000 in the coming weeks, or even sooner. He advises purchasing around $69,280 and setting a stop loss at $65,000. This anticipated move towards $80,000 represents a potential 10% increase from the current price of $72,300. The breakout coincides with a strong nonfarm payrolls report from the U.S., highlighting the economy's resilience and prompting increased risk-taking across various financial markets. Bitcoin's surge is part of a broader trend dubbed an "everything rally" this year, where not only cryptocurrencies but also traditional assets like the Nasdaq, S&P 500, and gold have seen significant gains. The rally in Bitcoin has been supported by continuous growth in the supply of major stablecoins. Technical analysis involves studying price patterns to forecast future asset trends. A symmetrical triangle, like the one observed in Bitcoin's recent movement, signifies consolidation within a narrowing price range. Typically, this consolidation builds energy that is eventually released in the direction of the breakout, often resulting in a bullish move.
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#write2earn #BITCOIN ’S PRICE DYNAMICS: ANALYZING RECENT TRENDS AND FUTURE OUTLOOK #bearorbull #BTC $BTC Bitcoin recently fell short of achieving another record high as its price was turned away from $72,600 on Monday, resulting in a 4.5% decline. The question now looms: will the price retreat further, or is Bitcoin gearing up for another attempt at surpassing its previous peak? The decline in Bitcoin's price on Monday can be partly attributed to a significant outflow from Bitcoin ETFs, notably the Grayscale ETF (GBTC), which saw a hefty $303 million leaving its coffers, unmatched by Blackrock (IBIT). The net outflow totaled $223 million for the day. In the short term, examining the 4-hourly timeframe reveals a straightforward narrative. The rejection from the $72,600 resistance level was a natural occurrence, prompting the price to retest the upper boundary of the breakout triangle. While the $69,000 support within the triangle remained untouched, the upper trend line upheld the price. The next move hinges on whether Bitcoin will undergo a period of sideways movement, allowing for the reset of shorter-term stochastic RSI momentum indicators. Zooming out to the weekly timeframe unveils a tug of war between bullish and bearish forces, depicted through candlestick patterns. The red candle marking the failed attempt at a new all-time high indicates a fierce battle, culminating in indecision. However, subsequent candles, such as the bullish hammer candle and the green engulfing candle, suggest continued bullish momentum, though the hanging man candle from last week introduces the possibility of a bearish reversal. The trajectory of this week's price action is critical. A close above the hanging man candle could negate its bearish implications, potentially signaling a breakout from the current consolidation phase. Additionally, monitoring the stochastic RSI on the weekly chart reveals the flattening of signal lines, hinting at a potential reversal to the upside, which could fuel further bullish momentum.
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