Yesterday and today's technical analysis of spot BTC, as well as today's market forecast
Yesterday, Bitcoin (BTC) continued to maintain an upward trend, gradually rebounding from a low of 64,500 to a high of 68,459. The current price is about 67,792. Technically, BTC's MACD indicator shows a sustained buying force, and the short-term moving average also shows signs of bullish dominance. It is expected that Bitcoin will continue to rise today, with a target between 68,000 and 68,500. Investors are advised to gradually increase their positions near the current price, but be careful to prevent callback risks.
Important and valuable information from the past one or two days
New developments in US politics: Robert Kennedy Jr., an independent candidate for US President, announced that if elected, he would require the US to purchase 550 BTC per day, aiming to establish a national reserve of 4 million BTC. This will significantly increase the market demand for Bitcoin and may provide long-term support for prices.
Bull market cycle expectations: CryptoQuant founder Ki Young Ju predicts that this round of Bitcoin bull market cycle may last until mid-2025. He pointed out that the phenomenon of old whales taking profits and introducing new capital during the bull market shows the healthy development of the Bitcoin market. This shows that long-term investors should remain optimistic.
Altcoin gains and Bitcoin futures forecasts
The altcoin market has been active recently, especially Solana (SOL) and Avalanche (AVAX), which have both risen by more than 5% in the past 24 hours. In the short term, it is expected that altcoins will continue to perform well driven by the rise of mainstream coins.
In terms of Bitcoin contracts: the current BTC price is hovering around 67792. It is recommended that investors can try to buy with a light position at this position, with the target price at 68500 and the stop loss at below 67000. In the short term, contract transactions need to be operated with caution to avoid high leverage risks.
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