Is Bitcoin’s Price Going to $55,000 Next?

CoinChapter · 2024-06-25T18:53:08.000Z

Is the Price of Bitcoin Going to $55,000 Next? YEREVAN (CoinChapter.com) — Bitcoin’s price recently dropped below $60,000, hitting $59,809 on June 24. Analysts and traders are examining this movement, with some pointing to market manipulation by large holders known as whales. BTC/USD 1-hour chart. Source: TradingView Whale Games Impact Bitcoin Price These whales use tactics like “spoofing,” where they place large buy or sell orders without intending to execute them, creating a false sense of market liquidity. Material Indicators observed this activity, stating, “Near range ask liquidity is paper thin in the Bitcoin order book.” Whale Games and Spoofing on Bitcoin Order Books. Source: Material Indicators This manipulation influences market conditions, making it easier to affect prices. Bitcoin’s Double-Top Pattern Signals Potential Drop to $50,000, Says Analyst Bitcoin’s repeated failure to break above higher resistance levels has led to the formation of a “double-top price pattern,” which could potentially cause a steeper decline to $50,000, according to a crypto analyst. Markus Thielen, founder of 10x Research, identified a double-top price pattern in Bitcoin’s chart. This pattern, characterized by two similar peaks with a dip in between, suggests a possible further decline. If Bitcoin breaks below the support line, it could fall to $50,000 or even $45,000. Double-Top Warning and Risk Management. Source: 10x Research “Bitcoin could shift from its current range trading ($60,000-$70,000) into a topping formation, potentially leading to a steeper decline,” Thielen explained. Range trading phases often feature several false breakouts, adding complexity to the market. Bitcoin price chart. Source: 10x Research “This chart formation should be our base case unless it becomes invalidated. This formation could easily see a drop to $50,000—if not $45,000,” said Thielen, adding, “As we’ve observed over the past three months, range trading is a complex phase, often marked by several false breakouts.” Bitcoin Price Drop Triggers $136.5 Million in Long Liquidations, Data Shows Data from CoinGlass shows significant long liquidations due to the recent price drop. Over 24 hours, long liquidations totaled $136.5 million, with the overall crypto market seeing $265 million in liquidations. This indicates substantial losses for traders who bet on Bitcoin’s price increasing. Crypto liquidations. Source: CoinGlass RSI Points to Potential Oversold Conditions Scott Melker, known as the “Wolf Of All Streets,” noted that Bitcoin’s Relative Strength Index (RSI) on daily timeframes hit a 10-month low. An RSI below 30 typically indicates oversold conditions. “RSI is finally touching oversold (has not closed there yet),” Melker confirmed. This is the first time since August 2023 that the RSI has reached these levels. BTC/USD 1-day chart with RSI data. Source: TradingView Market Outlook Post-Halving Event Crypto traders are speculating about Bitcoin’s price action after the halving event on April 20, which cut Bitcoin miner block rewards by 50%. Crypto trader Jelle noted that Bitcoin’s price action is similar to the 2016 halving cycle. “More and more FUD is being offloaded at current prices,” Jelle stated in a June 24 X post. Bitcoin’s Current Cycle Resembles 2016-2017. Source: Jelle Rekt Capital believes the market is approximately 40% through the bull market phase. He noted that the drop below $60,000 provides an opportunity for buyers to purchase before Bitcoin enters a parabolic uptrend. Source: Rekt Capital Bitcoin Likely to Stay in $55,000 – $75,000 Range, Says Novogratz Michael Novogratz, founder of Galaxy Digital Holdings Ltd., expects Bitcoin to remain in a narrow trading range this quarter. He stated, “We are in the consolidation phase in crypto. Bitcoin, Ethereum, and everything else, Solana will consolidate, what does that mean? It means probably somewhere between $55,000 and $75,000 until the next set of circumstances, the next set of market events bring us higher.” This follows a historic bull run driven by the launch of spot US Bitcoin exchange-traded funds and the halving event, which reduces the supply of new tokens. Bitcoin’s price fell 2.7% to $61,389 on Tuesday and has declined 16% since its March 14 peak of $73,797. Key Events in Bitcoin’s Price Movement. Source: CoinMarketCap Novogratz noted that the crypto market benefitted from significant tailwinds in Q4 and Q1. He added, “I think that is probably where we are certainly for this quarter, maybe next quarter until either A, the Fed starts cutting rates because the economy finally slows or B, we get through the election and I think the election will bring clarity one way or the other to the crypto regulatory landscape.” Galaxy Digital’s first-quarter net income more than tripled to $421.7 million. Novogratz highlighted renewed interest in crypto, with increased lending activities. “People are willing to lend us crypto for a long period of time unsecured, that didn’t happen six months ago and it’s happening now,” he said. “Counterparties are growing. Engagement around the space is just at a different level than what it was before.” Shares of Galaxy Digital rose 1% to $9.28, up 23% this year. The post Is Bitcoin’s Price Going to $55,000 Next? appeared first on CoinChapter.

比特幣價格下一步會達到 55,000 美元嗎？
埃裏溫（CoinChapter.com）——比特幣的價格最近跌破 60,000 美元，於 6 月 24 日觸及 59,809 美元。分析師和交易員正在研究這一走勢，一些人指出，這是由被稱爲“鯨魚”的大型持有者操縱市場造成的。
BTC/USD 1 小時圖。資料來源：TradingView 鯨魚遊戲影響比特幣價格
這些鯨魚使用“欺騙”之類的策略，他們下達大量買入或賣出訂單但不打算執行，從而造成市場流動性的虛假感。
Material Indicators 觀察到了這一活動，並指出，
“比特幣訂單簿中的近距離賣出流動性非常薄弱。”
鯨魚遊戲和比特幣訂單簿欺騙。資料來源：Material Indicators
這種操縱會影響市場狀況，從而更容易影響價格。
分析師稱，比特幣的雙頂形態預示着可能跌至 50,000 美元
一位加密貨幣分析師表示，比特幣屢屢未能突破更高阻力位，導致形成了“雙頂價格模式”，這可能會導致其進一步下跌至 50,000 美元。
10x Research 創始人 Markus Thielen 在比特幣圖表中發現了雙頂價格模式。這種模式的特點是兩個相似的峯值之間有一個低谷，表明可能進一步下跌。如果比特幣跌破支撐線，可能會跌至 50,000 美元甚至 45,000 美元。
雙頂警告和風險管理。資料來源：10x Research
“比特幣可能會從目前的區間交易（60,000 美元至 70,000 美元）轉變爲頂部形態，從而可能導致更大幅度的下跌。”
蒂倫解釋道。區間交易階段通常會出現幾次假突破，這增加了市場的複雜性。
比特幣價格圖表。資料來源：10x Research
“除非該圖表失效，否則它應該是我們的基本情況。該圖表很容易跌至 50,000 美元，甚至 45,000 美元。”
Thielen 補充道，
“正如我們在過去三個月所觀察到的，區間交易是一個複雜的階段，通常以幾次假突破爲特徵。”
數據顯示，比特幣價格下跌引發 1.365 億美元的多頭清算
CoinGlass 的數據顯示，由於近期價格下跌，多頭清算數量大幅增加。24 小時內，多頭清算總額達到 1.365 億美元，整個加密貨幣市場的清算總額達到 2.65 億美元。這意味着押注比特幣價格上漲的交易者損失慘重。
加密貨幣清算。資料來源：CoinGlass RSI 指向潛在的超賣情況
被稱爲“街頭之狼”的斯科特·梅爾克 (Scott Melker) 指出，比特幣的每日相對強弱指數 (RSI) 創下了 10 個月以來的最低水平。RSI 低於 30 通常表示超賣情況。
“RSI 終於觸及超賣（尚未收盤）”，
Melker 證實。這是自 2023 年 8 月以來 RSI 首次達到這些水平。
BTC/USD 1 日圖，包含 RSI 數據。資料來源：TradingView 市場展望減半事件後
加密貨幣交易員正在猜測 4 月 20 日減半事件後比特幣的價格走勢，此次減半事件將比特幣礦工的區塊獎勵削減了 50%。加密貨幣交易員 Jelle 指出，比特幣的價格走勢與 2016 年減半週期類似。
“以當前價格出售的恐慌性拋售越來越多，”
Jelle 在 6 月 24 日的 X 帖子中說道。
比特幣的當前週期與 2016-2017 年相似。資料來源：Jelle
Rekt Capital 認爲，市場目前已進入牛市階段的 40% 左右。他指出，跌破 60,000 美元爲買家提供了在比特幣進入拋物線上升趨勢之前買入的機會。
來源：Rekt Capital Novogratz 表示，比特幣價格可能維持在 55,000 美元至 75,000 美元的區間內
Galaxy Digital Holdings Ltd. 創始人 Michael Novogratz 預計，本季度比特幣將維持窄幅交易區間。他表示，
“我們正處於加密貨幣的整合階段。比特幣、以太坊和其他所有東西，Solana 都將整合，這意味着什麼？這意味着價格可能在 55,000 美元到 75,000 美元之間，直到下一組情況、下一組市場事件將價格推高。”
在此之前，美國比特幣現貨交易所交易基金的推出和減半事件推動了歷史性的牛市，新代幣的供應量減少了。週二，比特幣價格下跌 2.7% 至 61,389 美元，自 3 月 14 日 73,797 美元的峯值以來已下跌 16%。
比特幣價格走勢的關鍵事件。資料來源：CoinMarketCap
Novogratz 指出，加密市場在第四季度和第一季度受益於顯著的順風。他補充道，
“我認爲這可能就是我們本季度的情況，也許下個季度也是如此，直到 A，美聯儲開始降息，因爲經濟最終放緩，或者 B，我們度過選舉，我認爲選舉將以某種方式爲加密貨幣監管格局帶來清晰度。”
Galaxy Digital 第一季度淨收入增長兩倍多，達到 4.217 億美元。Novogratz 強調，人們對加密貨幣的興趣重新燃起，借貸活動也隨之增加。
“人們願意在無擔保的情況下長期借給我們加密貨幣，這種情況在六個月前還沒有發生，但現在發生了。”
他說。
“交易對手在不斷增加。該領域的參與程度與以前相比已經發生了變化。”
Galaxy Digital 股價上漲 1% 至 9.28 美元，今年以來上漲了 23%。
文章《比特幣的價格接下來會達到 55,000 美元嗎？》首先出現在 CoinChapter 上。

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