🚨 US Federal Reserve Thinking About A BITCOIN BAN?

A paper published on the Minneapolis Fed’s website suggests that assets like Bitcoin could push the US into a "balanced budget trap," challenging perpetual deficit spending. The paper proposes a drastic solution: ban or tax Bitcoin to enable ongoing deficit policies. This idea triggered alarm and skepticism in the crypto world, underscoring BTC’s potential as a counterbalance to unchecked fiscal practices.

BTC’s decentralized nature acts as a "release valve" against currency debasement. If people sense their dollar assets depreciating, they might flock to alternatives like BTC, complicating a government's ability to sustain permanent deficits. Economist Daniel Lacalle finds this ironic: “It shows BTC protects against debasement, yet they’d rather suppress it than address the real fiscal issue.”

Though the idea might sound dystopian, some experts believe it’s possible for governments to curb BTC's influence by attacking its network effect—implementing laws that penalize acceptance and usage. But as William Luther and Joshua Hendrickson suggest, banning Bitcoin effectively would require unprecedented measures that most democratic nations shy away from, like restricting all foreign currencies and assets.

This thought experiment underscores BTC's role as more than a speculative asset; it symbolizes fiscal freedom and resistance to monetary manipulation. Analyst Matthew Le Merle summed it up: “Bitcoin isn’t the problem; reckless spending is.” The conversation around BTC and deficit spending hints at potential resistance the crypto community might face. “Bitcoin constrains governments by offering an external option,” says Luther. Will future policies attempt to quell that option? The debate rages on.

Stay aware with @Professor Mende - Bonuz Ecosystem Founder and HODL Bitcoin! By the people, for the people!

#Bitcoin #BTC #Bitcoinban #Bitcoinprice #FederalReserve $BTC

🚀 Bitcoin Officially BREAKS FREE from a 7-Month Downtrend!

After months of consolidation, Bitcoin has finally broken out of its seven-month downtrend, fueling excitement among traders and market watchers alike. With sustained multi-day closes above its previous trading range, BTC has ignited a fresh wave of optimism in the market.

Veteran trader Peter Brandt and others have taken note, with many eyeing targets between $85,000 and $160,000. This breakout is inspiring traders to open new positions, betting on even higher highs as Bitcoin’s momentum continues to build.

Why is This Breakout Important? This range break signifies a clear end to the downtrend that’s haunted BTC since early 2024. A confirmed close above key resistance levels has restored confidence in the bulls, and traders are now targeting the next major price levels.

What’s Next for BTC? With this breakout, bullish targets range between $85,000 to $160,000, according to Brandt and other analysts. Market sentiment is shifting, and a push toward these higher levels is gaining momentum. Investors are rushing in to capitalize on this potential long-term rally.

Could This Be the Start of a New Bull Market? If Bitcoin continues to hold above its previous range and gathers steam, this could mark the beginning of a new bull cycle, pushing prices to all-time highs.

Follow @Professor Mende - Bonuz Ecosystem Founder to stay updated!

#Bitcoinprice #bitcoin #btc #CryptoMarketNews #BinanceBlockchainWeek $BTC

👉👉👉 #gbtc ETF Sees Another $515M in Outflows as #Bitcoinprice Remains Below $40k

On January 23, GBTC reported additional outflows totaling $515 million, bringing the total outflows to $3.4 billion since its conversion to a spot ETF earlier this month. In contrast, nine recently approved spot Bitcoin ETFs recorded total inflows of $249 million.

Despite the US SEC's approval of spot ETFs, Bitcoin erased all its gains and traded below $40,000, witnessing a market cap reduction of nearly $200 billion this week. At the time of writing, Bitcoin is trading at $39,700. The notable surge in GBTC outflows is attributed to the actions of the now-defunct #FTX crypto exchange, which reportedly sold around two-thirds of its 22.3 million GBTC shares over a three-day trading period. FTX still holds about 8 million shares, valued at approximately $281 million, awaiting liquidation.

Bloomberg ETF analyst Eric Balchunas observed that the latest data suggests a potential slowdown in GBTC outflows. Grayscale's website indicates 600.5 million outstanding shares, representing a trust holding of 536,694.9 Bitcoin. Since January 10th, a total of 82,525 Bitcoin has exited the GBTC platform, as per CC15Capital data.

An analyst from Bitfinex noted that the #BTC🔥🔥 price, staying below the $43,000 level, has wiped out over half of the profits accumulated by short-term holders. Considering these dynamics, the analyst suggested that a significant price correction below current levels across the market would not be surprising.

Source - Cryptonews.com

#CryptoNews $BTC

NFT trading volume in October reached $405 million, marking a 32% increase compared to the previous month's volume of $306 million, according to a report by DappRadar. This shift indicates a reversal in the trend of decreasing NFT transaction volumes that had been ongoing for the past year. The increase in NFT trading volume was attributed to the rise in the price of Bitcoin, which surpassed the $35,000 level. 📈💹🌐 #NFTs #CryptoMarkets #NFTTrading #Bitcoinprice

👉👉👉 Will Bitcoin (BTC) Price Fall Below $60k This Week?

The Bitcoin ($BTC ) price outlook appears cautious as larger holders, commonly known as #Whales , holding between 100 to 1,000 BTC have stabilized their holdings since March 25, indicating a pause in accumulation. Additionally, the Relative Strength Index (RSI) has dipped from 76 to 69, suggesting a short-term cooling in momentum.

Furthermore, the Exponential Moving Average (EMA) lines are approaching a death cross, a pattern often interpreted as a bearish signal for BTC. This occurrence, where the short-term moving average falls below the long-term average, may indicate a shift towards a downtrend.

The stability in the number of wallets holding significant amounts of BTC suggests a lack of further accumulation by whales. This behavior could signify a diminishing interest or a cautious stance from these influential players, potentially impacting market sentiment and prompting other investors to follow suit.

The RSI, a momentum indicator, currently stands at 69, indicating a balance between buying and selling pressures. While not in the overbought territory, the RSI's decline from higher levels suggests a cooling off in Bitcoin's fervor, coinciding with a stabilization in its price range.

The nearing death cross of the EMA lines, which prioritize recent price action, underscores the potential for a shift from bullish to bearish market conditions. If this trend continues, BTC's price could potentially decline to $59,200, especially if the $62,300 support level fails to hold.
However, there remains a possibility of a reversal if buyers regain control and drive the market into an uptrend. Breaking through the $71,700 resistance level could signal renewed bullish sentiment, challenging the current bearish outlook for Bitcoin.

#CryptoNews🔒📰 🚫 #BinanceSquareBTC #cryptocurrency #Bitcoinprice

#Bitcoinprice Consolidates Losses But Recovery Could Face Hurdles

Bitcoin's price continued its descent below the critical $65,000 support zone, signaling a further downturn. Currently, BTC is consolidating its losses and may attempt a recovery towards the $67,000 level.

The decline saw Bitcoin slipping below key support levels at $65,500 and $65,000, eventually testing the $64,500 region. At its lowest point, Bitcoin traded near $64,572 before showing signs of consolidation. While there was a minor uptick above $65,000, the price is still trading below $67,500 and the 100 hourly Simple Moving Average.

On the hourly chart of the #btc/usd pair, a notable bearish trend line is forming with resistance around $67,200. This trend line represents a significant barrier for any potential recovery efforts.

Near-term resistance levels include $66,000 and the key level at $67,200, aligned with a trend line. A decisive move above this zone could trigger an uptrend towards $67,950, the 50% Fibonacci retracement level. Further resistance is at $68,500, potentially pushing Bitcoin towards $70,000.

However, if Bitcoin fails to breach the $67,200 resistance, a continuation of the downtrend is likely. Immediate support awaits at $65,200, followed by the crucial level at $64,500. A close below $64,000 might intensify selling pressure, pushing Bitcoin towards the $62,500 support zone, with further downside risk towards $60,500.

Key technical indicators suggest a bearish sentiment, with the hourly MACD losing momentum in the bearish zone, and the hourly RSI dipping below the 50 level, indicating weakening bullish momentum.

In summary, Bitcoin faces significant resistance near $67,200, and a failure to overcome this level could lead to further losses, targeting support levels at $65,200 and $64,500. Conversely, a successful breakout above $67,200 could pave the way for a bullish recovery towards $70,000.

Source - newsbtc.com

#CryptoNews🔒📰🚫 #BinanceSquareBTC #cryptocurrency $BTC

#Bitcoinprice Consolidates Above $70K, Can Bulls Pump BTC To $75K?

Near-term resistance for Bitcoin is anticipated around the $71,300 level, with the primary barrier likely at $71,500. A decisive breakthrough above this level could trigger a robust upward movement, potentially leading the price to surpass the $72,500 resistance zone in the short term. Subsequently, the next significant resistance level looms near $73,500.

On the other hand, if Bitcoin fails to surpass the $71,200 resistance zone, it could undergo a corrective phase. Immediate support is expected around the $70,750 level, along with the channel trend line.

The first major support level is situated at $70,200, coinciding with the 50% Fibonacci retracement level of the recent upward swing from the $69,128 low to the $71,306 high. Further support awaits at the $70,000 mark. A close below this level may initiate a decline towards the $69,120 support level, with potential further losses leading the price towards the $68,500 support zone.

Technical indicators suggest a slowdown in #bullish momentum, with the hourly MACD indicating a loss of pace in the bullish zone. However, the hourly RSI for BTC/USD is currently above the 50 level, indicating a balanced market sentiment.

- Key support levels include $70,750 and $70,200,

- Resistance levels are seen at $71,200, $71,500, and $73,500.

Source - newsbtc.com

#CryptoNews🔒📰🚫 #BinanceSquareBTC #cryptocurrency $BTC

👉👉👉 #Bitcoinprice Faces Uphill Task But Indicators Signal More Upsides

Bitcoin's price is currently consolidating its gains above the crucial $69,000 support level, with its upward momentum facing a significant obstacle near the $71,500 resistance zone.

Despite encountering resistance near $71,500, Bitcoin is exhibiting positive signs and remains above the $69,000 mark, supported by the 100-hourly Simple Moving Average. On the hourly chart of the BTC/USD pair, a major bullish trend line is taking shape, providing support at approximately $69,120.

Following multiple attempts to breach the $71,500 resistance, Bitcoin experienced a downside correction, dipping to the $68,400 support level. However, a rebound ensued, with the price climbing above the 23.6% Fib retracement level of the recent downward move from the swing high of $71,746 to the swing low of $68,366.

Bitcoin's current trading position above $69,000 and its 100-hourly Simple Moving Average signal ongoing strength in its bullish trend. Immediate resistance lies near the $70,000 level, followed by the 50% Fib retracement level around $71,200.

The primary obstacle remains at $71,500, and a clear breakthrough above this resistance zone could pave the way for further upward momentum, potentially pushing Bitcoin towards the $72,500 resistance level in the near term.

However, if Bitcoin fails to surpass the $71,200 resistance, it may initiate another downward movement. Initial support is anticipated around $69,200 & the trend line, with the $68,400 level serving as crucial support. Further support levels include $67,500 and, in the event of a significant decline, the $66,000 support zone.

Bitcoin's price shows a slight loss in bearish momentum per the hourly MACD, while the hourly RSI remains above 50. It's currently testing crucial support and resistance levels, with a breakthrough above $71,500 indicating potential #bullish momentum, while failure could prompt further downside pressure toward lower support levels.

Source - newsbtc.com

#CryptoNews🔒📰🚫 #BinanceSquareTalks #cryptocurrency $BTC

🔥🔥🔥 #Bitcoinprice Eyes Upside Break, Can Bulls Send BTC To $75K?

Bitcoin is holding onto its gains above the $69,200 mark, with the potential for further #bullish momentum if it manages to surpass key resistance levels at $70,800 and $71,250.

Currently, Bitcoin is striving to climb above the $70,000 threshold, maintaining its position above this level and the 100-hourly Simple Moving Average. However, it faces resistance in the form of a bearish trend line, with a hurdle emerging at $70,800, as indicated by data feed from Kraken.

Bitcoin's recent attempt to push beyond $70,500 encountered obstacles around $71,200 and $71,400, resulting in a minor pullback. Despite this, the bulls remain active, preventing the price from dipping significantly below $69,200, which aligns closely with the 50% Fibonacci retracement level of the recent upswing from the $67,500 low to the $71,250 high.

As of now, Bitcoin is trading above $70,000 and the 100-hourly SMA, with immediate resistance anticipated around $70,800. Additionally, a bearish trend line is forming, adding to the resistance level.

In the event of a successful breach above $71,250, Bitcoin could see further upward movement, with the next resistance points at $71,400 and $72,600. Beyond these levels, the #cryptocurrency may target the $73,500 and $75,000 zones in the short term.

Conversely, if Bitcoin fails to overcome the $71,250 resistance, it may experience another decline. Initial support is expected around $70,400, followed by the 100-hourly SMA. Further support levels lie at $69,350 and $68,500, with a potential drop to the $67,500 zone if selling pressure persists.

Analyzing the technical indicators, the hourly MACD is showing bullish momentum, while the hourly RSI for BTC/USD is currently above the 50 level.

Key support levels to watch include $70,400 and $69,350, with major resistance levels at $70,800, $71,250, and $72,600.

Source - newsbtc.com

#CryptoNews🔒📰🚫 #BinanceSquareBTC

🔥🔥🔥 #Bitcoinprice Drops Below $37,000 Amid Profit-Taking and Caution Ahead of #cpi Data 🔥🔥🔥

There are a few possible explanations for this pullback. One possibility is that investors are taking profits after the recent rally. Another possibility is that investors are cautious ahead of the US CPI data release later this week. The CPI data is a key indicator of inflation, and a higher-than-expected reading could lead to a sell-off in risk assets, including Bitcoin.

It is also important to note that the crypto market is still very volatile, and it is common to see sharp price swings. A 1.10% drop in Bitcoin's price is not necessarily a cause for concern, and it is possible that the price will rebound in the coming days.

Here are some factors that could affect Bitcoin's price in the near term:

- The US CPI data release on November 15th

-The approval of Bitcoin and Ethereum ETFs by the US SEC

-The institutionalization of crypto

-The overall market sentiment

Overall, it is too early to say whether the recent pullback in Bitcoin's price is a sign of a larger reversal or just a temporary correction. Investors should always do their own research before making any investment decisions.

***Please Note It's not paid content***

#CryptoNews #BinanceSquareTalks #BinanceSquareBTC

🔥🔥🔥 #Bitcoinprice Turns At Risk of More Losses – Why BTC Could Revisit $40K

Bitcoin experienced a notable setback after reaching close to the $49,000 mark, initiating a gradual decline. Presently trading below $43,500 and the 100-hourly Simple Moving Average, the BTC/USD pair faces a bearish trend line resistance around $42,850, as depicted in the hourly chart from Kraken.

The potential for a fresh decline looms if the price drops below the $41,500 support zone. The failure to test the $50,000 resistance zone led to a substantial downturn, with Bitcoin plunging below key support levels at $48,000, $46,500, and $45,000. The decline exceeded 12%, reaching the $41,500 support zone before initiating a recovery.

Although Bitcoin briefly surpassed the $42,000 resistance, it remains below $43,500 and the 100-hourly Simple Moving Average. The immediate resistance is around $42,800, marked by a connecting bearish trend line. A clear breach above the $43,250 resistance could propel the price towards $44,000, with subsequent hurdles at $45,200 and $47,000.

Failure to surpass the $43,250 resistance might prompt a fresh decline, finding immediate support around $42,120. The critical support lies at $41,500, and a breach below it may initiate a bearish momentum, potentially driving the price towards the $40,000 support. Technical indicators show the #MACD losing pace in the bearish zone, while the #RSI for BTC/USD is below the 50 level. Major support levels are $42,120 and $41,500, with resistance levels at $42,800, $43,250, and $44,000.

Source - newsbtc.com

#CryptoNews #BinanceSquareBTC

🔥🔥🔥 #Bitcoinprice Restarts Increase – Can BTC Pump To $45K Again?

Bitcoin's price is making a recovery, surpassing the crucial $42,000 resistance level. To initiate a further uptrend, BTC needs to successfully clear hurdles at $42,800 and $43,500, ultimately targeting the $45,000 resistance.

As of now, Bitcoin is trading above $41,500 and the 100 hourly Simple Moving Average (SMA). A significant bullish trend line is forming with support around $41,500 on the BTC/USD hourly chart, sourced from Kraken exchange.

Bitcoin's recent positive movement began with the establishment of a support base above $40,000. The #cryptocurrency gained momentum, breaking through resistance at $41,200 and $41,500, opening the path for further upside. Subsequently, it surged past $42,000 and the 100 hourly SMA. The price reached a high near $42,800 but experienced a minor pullback, briefly dropping below $42,200.

In terms of retracement, Bitcoin tested the 23.6% Fibonacci retracement level of the upward swing from the $38,518 swing low to the $42,800 high. The mentioned bullish trend line, coupled with support at $41,500, acted as a buffer.

At present, Bitcoin is trading above $41,500 and the 100 hourly SMA. The immediate resistance lies near $42,500, with the subsequent key hurdles at $42,800 and $43,500. A successful breach of the $43,500 resistance could pave the way for a test of $44,250, followed by a major resistance at $45,000. A decisive close above $45,000 may fuel additional upward movement, targeting the next significant barrier at $46,500.

Bitcoin faces resistance at $42,800; a failure may trigger a downside correction. Initial support at $41,750, followed by crucial levels at $41,500. A close below $41,500 could lead to bearish momentum, with potential declines to $40,650 or the 50% Fibonacci retracement level.

Technical indicators show positive signals, with the hourly #MACD gaining momentum in the bullish zone, and the hourly #RSI above the 50 level.

Key Levels:

Support: $41,500, $40,650

Resistance: $42,800, $43,500, $45,000, $46,500

#CryptoNews

👉👉👉 #Bitcoinprice Rejects 48K After The #SEC Drama But Uptrend Still Intact

Bitcoin experienced a surge towards $48,000 following a tweet from a compromised SEC account about ETF approval. Despite retracing gains, the uptrend support remains near $45,200.
BTC spiked towards $47,800 & $48,000 resistance levels.
It currently trades above $45,500 & the 100 hourly Simple Moving Average.

A significant contracting triangle is forming, with resistance near $46,800 on the BTC/USD hourly chart (data from Kraken).
The potential for further upward movement towards $48,000 exists unless there is a close below $45,000.

Bitcoin Price Rebounds

Bitcoin initiated an upward move above the $45,500 resistance after a tweet from the hacked SEC account hinted at ETF approval. Gaining momentum above $46,000 & $46,500, the price faced rejection near $48,000 following clarification.

The subsequent decline dipped to $44,828 before a recovery. BTC is now back above the 23.6% Fib retracement level of the recent drop from $47,988 to $44,828.

Trading above $45,500 & the 100 hourly Simple Moving Average, a significant contracting triangle is forming, with resistance near $46,800 on the hourly BTC/USD chart. Immediate resistance lies near $46,400, close to the 50% Fib retracement level of the recent decline.

For further upward movement, a clear break above the $46,800 resistance could propel the price towards $47,200 & the next resistance near $48,000. A decisive close above $48,000 might lead to further gains, targeting the major resistance at $49,250.

Potential Losses in BTC

BTC faces potential losses if it fails to break the $46,800 resistance. Initial support is at $45,550, followed by significant support at $45,200. A breach below $45,200 may signal #bearish momentum, targeting the $44,800 support.

Technical Indicators:

- Hourly #MACD : Losing momentum in the bearish zone.

- Hourly #RSI (Relative Strength Index): Below the 50 level.

- Major Support Levels: $45,500, followed by $45,200.

- Major Resistance Levels: $46,400, $46,800, and $47,200.

Source - ewsbtc.com

$BTC

🔥🔥🔥 #Bitcoinprice shows strength as US $BTC ETF flow percentage beats AUM in most regions

Bitcoin's price is currently trending upwards with a clear directional bias, awaiting confirmation.

A decisive close above the $45,451 level could propel BTC by 10% to reach $50,000, while a candlestick close below $43,750 would invalidate the bullish thesis.

BTC's recent breakout from consolidation within a daily supply zone has sparked optimism among traders. However, the next directional move hinges on its ability to surpass the congestion level it currently faces.

According to Eric Balchunas, an ETF specialist at Bloomberg, apart from China, Europe and Canada have also shown interest in the US ETF market. China's economy constraints have led investors to flee the local market, prompting a surge in ETF trading volume. To counter this, China's government has begun implementing measures to stabilize the stock market and deter investor exodus.

Similarly, investors in Europe and Canada are flocking to US-focused ETFs due to weak performance in non-US #ETFs. This trend reflects a fear of missing out (#FOMO ) among investors outside the US.

Following its break above $45,000, Bitcoin is now trading within a supply zone ranging from $44,235 to $46,715. Confirming the uptrend requires a candlestick close above the $45,451 level, potentially leading to a climb towards the $48,000 resistance or even the $50,000 psychological level, marking a 10% increase from current levels.

Technical indicators such as the Relative Strength Index (RSI), which is trending upwards above 50, along with bullish signals from the Awesome Oscillator (AO) and Moving Average Convergence Divergence (MACD), support the bullish thesis.

Profit booking may lead to a retracement, testing the 50-day SMA support at $43,015. Further downside could target $43,750, then $41,880. Deeper corrections may test the demand zone at $38,496 - $39,895, possibly dipping to $37,800. A breach below $30,000 would invalidate the bullish outlook.

Source - fxstreet.com

#CryptoNews #BinanceSquareBTC

🔥🔥🔥 Hard To Be “Too Scared Of #Bitcoinprice Action,” Says Analyst. Here’s Why

Bitcoin Market Analysis: Relative Unrealized Loss

Decline in Relative Unrealized Loss

- November 2022 Bear Market: Relative Unrealized Loss peaked.

- Current Status: Metric close to zero, indicating negligible market losses relative to market cap.

Factors Contributing to the Decline

- Bitcoin Price Surge: Approaching a new all-time high (#ATH ), making the entire supply profitable and reducing Unrealized Loss to zero.

Current Market Insights

- Indicator’s Value: Remains low despite bearish price action, suggesting limited excessive buying at higher prices.

- Historical Context: Bull market tops typically see spikes in Unrealized Loss due to minimal price drops causing losses for late buyers. This pattern hasn’t emerged in the current cycle.

- Analyst Commentary: Checkmate noted, “It is hard for me to be too scared of Bitcoin price action when unrealized losses look like this,” indicating cautious optimism.

Bitcoin Price Update

- Current Trading Price: $65,481, continuing a #BEARISH📉 trend.

Source - newsbtc.com

#CryptoMarkets #BinanceSquareBTC $BTC

🎯The global distribution of bitcoin mining has been estimated, revealing the following concentration:

🇺🇸 USA - 40%
🇨🇳 China - 15%
🇷🇺 Russia - 12%

✨Hashrate production by regions:

⚫North America - 45.6%
⚫Asia - 41.1%
⚫Africa - 2.2%

#bitcoin #BitcoinPriceUpdate #Bitcoinprice

👉👉👉 Will Bitcoin (BTC) Price Fall Below $60k This Week?

The Bitcoin ($BTC ) price outlook appears cautious as larger holders, commonly known as #Whales , holding between 100 to 1,000 BTC have stabilized their holdings since March 25, indicating a pause in accumulation. Additionally, the Relative Strength Index (RSI) has dipped from 76 to 69, suggesting a short-term cooling in momentum.

Furthermore, the Exponential Moving Average (EMA) lines are approaching a death cross, a pattern often interpreted as a bearish signal for BTC. This occurrence, where the short-term moving average falls below the long-term average, may indicate a shift towards a downtrend.

The stability in the number of wallets holding significant amounts of BTC suggests a lack of further accumulation by whales. This behavior could signify a diminishing interest or a cautious stance from these influential players, potentially impacting market sentiment and prompting other investors to follow suit.

The RSI, a momentum indicator, currently stands at 69, indicating a balance between buying and selling pressures. While not in the overbought territory, the RSI's decline from higher levels suggests a cooling off in Bitcoin's fervor, coinciding with a stabilization in its price range.

The nearing death cross of the EMA lines, which prioritize recent price action, underscores the potential for a shift from bullish to bearish market conditions. If this trend continues, BTC's price could potentially decline to $59,200, especially if the $62,300 support level fails to hold.

However, there remains a possibility of a reversal if buyers regain control and drive the market into an uptrend. Breaking through the $71,700 resistance level could signal renewed bullish sentiment, challenging the current bearish outlook for Bitcoin.

Source - beincrypto.com

#CryptoNews🔒📰🚫 #BinanceSquareBTC #cryptocurrency #Bitcoinprice

🚀🚀🚀 #Bitcoin tips toward $70K, setting a path for TON, $STX , MNT and $MKR to follow

Bitcoin is attempting a breakout from a #bullish chart formation, potentially influencing altcoins like TON, STX, MNT, and MKR. Despite a minor 2% decline this week, Bitcoin's price has rebounded from its weekly low of $64,493, showing resilience among bulls. However, Coinbase warns of potential post-halving hurdles in Bitcoin's price action, historically indicating weakness in #CryptoMarkets during this period.

Bitcoin's drop may not dip below $50,000, says UTXO Management's Dylan LeClair, citing strong long positions at that level. Yet, he advises caution given crypto's unpredictable nature.

Meanwhile, altcoins shine, with Pantera Capital's Liquid Token Fund boasting a 66% Q1 2024 return. This success is attributed to increased DeFi token exposure and reduced Bitcoin and Ether allocations.

#Bitcoinprice Analysis:

- Bitcoin is consolidating within a symmetrical triangle pattern, with a rising 20-day EMA and positive RSI signaling a slight advantage for bulls. A breakout above the triangle could push Bitcoin towards $73,777 and $80,000, while a breakdown may lead to $59,000 and $54,298.

TONcoin Price Analysis:

- TONcoin is approaching overhead resistance at $5.69, hinting at a potential bullish reversal. However, a negative RSI divergence suggests possible consolidation or correction. A move above $5.69 could rally TON towards $7.09, while failure may pull back to the 20-day EMA and $4.72 support.

Stacks Price Analysis:

- Stacks is correcting within an uptrend, confined between moving averages. A breakout above $3.36 could signal a move towards $3.84, while failure may lead to a pullback towards $2.50 and $2.20 support. On the 4-hour chart, breaching the 50-SMA could rally towards $3.60, while failure may trigger selling pressure towards $2.90 and below.

Bitcoin's breakout attempts set a positive tone, but altcoins like TON and STX show potential for bullish momentum, with key resistance and support levels offering trading opportunities.

Source - cointelegraph.com

Decoding Bitcoin inflows: A Closer Look at Exchange Dynamics and Investor Trends in 2023.

"Spot volumes are currently at historic lows, while derivative volumes have reached record highs relative to spot trading."

#Bitcoinprice

#Bitcoinprice Takes Hit, Can Bulls Protect The Main Support at $40K?

Bitcoin faced selling pressure below the $41,450 support zone and is displaying bearish signals, potentially struggling to hold above the $40,000 support level.

Despite attempting a recovery above the $43,250 resistance, Bitcoin couldn't sustain upward momentum and initiated another decline, breaching the $42,120 support. The bears successfully pushed the price below $41,450, establishing a new weekly low near $40,625. Currently consolidating losses, Bitcoin is trading near the 23.6% Fib retracement level of the recent downtrend from the $43,569 swing high to the $40,625 low.

As Bitcoin trades below $42,000 and the 100 hourly Simple Moving Average, a key bearish trend line is forming with resistance around $42,100 on the hourly chart. Resistance at $41,675 is the immediate hurdle, followed by the $42,100 zone and the trend line. This area aligns closely with the 50% Fib retracement level of the recent decline.

A successful break above $42,100 resistance might propel the price towards the $43,250 resistance, and further gains could target the $43,500 level. Beyond that, the next significant resistance stands at $44,450.

Conversely, if Bitcoin struggles to surpass the $42,100 resistance, it could face additional downsides. Initial support lies near $40,750, followed by the crucial $40,500 level. A close below $40,500 might intensify bearish momentum, leading Bitcoin towards the $40,000 support in the short term.

Technical indicators depict increased bearish momentum, with the #MACD gaining pace in the bearish zone and the hourly #RSI dropping below the 50 level.

In summary, Bitcoin is encountering challenges in its attempt to rally, and failure to break above key resistances could result in further losses. On the downside, the $40,500 support remains crucial, and a breach may lead to increased selling pressure, testing the $40,000 support level.

Source - newsbtc.com

#CryptoNews #BinanceSquareBTC $BTC