Forex Trading Tools and Services

Bitcoin Crypto

Bitcoin Price Forecast: BTC Holds Steady Amid ETF Inflows and Looming Macro Triggers

  • BY
  • July 30, 2025
  • 0 Comments

Bitcoin is currently consolidating between $116,000 and $120,000, reflecting market indecision ahead of several key macroeconomic events. Despite recent selling pressure, including a massive 80,000 BTC OTC sale by Galaxy Digital, Bitcoin has shown strong resilience, supported by consistent institutional demand and inflows into US-listed spot Bitcoin ETFs, which recorded $157.02 million on Monday alone. But with key US employment, GDP, interest rate, and tariff announcements due this week, volatility in markets may rise sharply. Traders are nervous as technical charts point to declining momentum, and the SEC’s hesitation in deciding on ETFs makes the near-term outlook even more uncertain. KEY LOOKOUTS • Future US employment data, GDP announcement, Fed interest rate move, and tariff deadline might lead to sudden price fluctuations in Bitcoin. • Further positive inflows into US-listed spot Bitcoin ETFs, with $157.02 million injected on Monday, reflect increased institutional demand in the face of market consolidation. • A fall below $116,000 is likely to see a decline towards the 50-day EMA at $112,526, while a close above $120,000 on the daily chart is likely to see a move towards the all-time high of $123,218. • The US SEC has delayed decisions on the Truth Social BTC ETF and other altcoin-focused ETFs, prolonging uncertainty but possibly setting up future bullish catalysts. Bitcoin is still trading in a tight range of $116,000 to $120,000, marking a period of consolidation as traders wait for major macroeconomic events that will inject substantial volatility into the market. In spite of a large recent OTC sale by Galaxy Digital of 80,000 BTC, the price has exhibited impressive resilience underpinned by robust institutional buying and steady inflows into US-listed Bitcoin ETFs. While this is indicative of underlying bullishness, caution still dominates as pending announcements including the Fed rate decision, US GDP data, and tariff deadlines hang over markets and have the potential to induce sudden market responses in either direction. Bitcoin holds range-bound between $116,000 and $120,000 while investors wait for key US economic announcements. Firm ETF inflows and institutional demand support it, but volatility will increase with the pending macro events. • Bitcoin is range-bound between $116,000 and $120,000 after reaching an all-time high at $123,218 on July 14. • ETF flows continue to be firm, with US-listed spot Bitcoin ETFs seeing $157.02 million of net inflows on Monday. • BTC remains resilient despite a gargantuan 80,000 BTC OTC sale from Galaxy Digital, underpinned by ongoing institutional buying. • Volatility remains at annual lows but is poised to increase amidst pending US economic releases and policy announcements. • Notable macro events for this week are US employment releases, GDP data, Fed interest rate announcement, and Trump tariff deadline. • Technical indicators flash caution – RSI points downward and MACD shows a bearish crossover. • The SEC delays ETF decisions, including Truth Social’s Bitcoin ETF, adding short-term uncertainty but long-term bullish potential. Bitcoin’s price action over the past two weeks has remained steady within a defined range, reflecting cautious optimism in the market. In spite of wider volatility, investor attitude seems to be gaining traction, reflected in steady inflows into US-listed spot Bitcoin ETFs. These ETFs saw a significant $157.02 million in inflows on Monday alone, the third day running of net positive flows. Institutional buying and treasury vehicle accumulation still provide support to Bitcoin, cushioning it against macro sell-offs, as was seen in the latest 80,000 BTC OTC trade by Galaxy Digital. BITCOIN DAILY PRICE CHART SOURCE: TradingView The overall market is gearing up for a week that is going to see major macroeconomic events that could drive sentiment and investor action across asset classes, including cryptocurrencies. Those announcements of US jobs, GDP expansion, and the Federal Reserve interest rate choice are likely to define investor expectations. In the meantime, the SEC postponement to approve a number of crypto-related ETFs, such as the Truth Social Bitcoin ETF, reflects the continued regulatory uncertainty but also implies increasing institutional focus on digital assets. As Bitcoin remains to attract both institutional and retail attention, the interest is on how outside economic and policy conditions will influence its next directional direction. TECHNICAL ANALYSIS Bitcoin is trading in a period of consolidation between $116,000 and $120,000, with indicators exhibiting weakened bullish momentum. The Relative Strength Index (RSI) reads 58 on the daily chart—still above middle but falling—indicating diminishing buying pressure. Also, the Moving Average Convergence Divergence (MACD) has demonstrated a bearish crossover, which could signal short-term downfall. If Bitcoin drops below the $116,000 support level on a daily close basis, it might engender a fall down to the 50-day Exponential Moving Average (EMA) at $112,526. On the other hand, a strong push higher above $120,000 might recalculate the route to retesting the recent all-time high of $123,218. FORECAST If Bitcoin can close and remain above the $120,000 resistance level, it may find itself with bullish momentum and targeting a retest of its new all-time high at $123,218. Breaking through this level would tend to induce new buying interest, and possibly push BTC into fresh highs. Ongoing inflows to spot Bitcoin ETFs, combined with robust institutional buying, may be the support needed for a breakout higher, particularly if macroeconomic news or regulatory news is also positive for risk assets. Conversely, a firm breakout below the $116,000 area of support may lead to further decline, with the next important support at the 50-day EMA around $112,526. Weakening technicals, including the bearish MACD crossover and falling RSI, indicate bearish momentum is building. Moreover, increased volatility in the market due to macroeconomic releases or surprise regulatory announcements has the potential to spark sudden sell-offs, especially in a leveraged market environment, driving further price correction in Bitcoin.

Read More
Bitcoin Crypto

Bitcoin Weekly Outlook: Price Dips Under $116K as ETF Flows and Lackluster Momentum Indicate Possible Correction

  • BY
  • July 26, 2025
  • 0 Comments

Bitcoin is signaling the possibility of a near-term correction as it dips below the critical level of $116,000, shattering its recent range-bound pattern. The fall is bolstered by weakening technicals in the form of a bearish MACD and RSI crossover, indicating waning bullish momentum. Also, US-listed spot Bitcoin ETFs experienced a modest weekly outflow of $58.64 million, putting an end to a six-week inflow stint, further contributing to the bearish sentiment. With increasing open interest indicating more short positions and no short-term relief from US macroeconomic fundamentals or interest rate reductions, BTC might experience more downward pressure in the near term. KEY LOOKOUTS • A close below this significant level daily might seal the deal for more downside, with targets in the vicinity of $111,410 (50-day EMA) or even the former ATH of $111,980. • Ongoing US spot Bitcoin ETF outflows totaling $58.64 million for the current week might reflect diminishing institutional confidence and add pressure to the price further. • Bearish MACD and RSI crossovers on daily and weekly charts indicate falling momentum and higher likelihood of a correction. • Strong US economic data and the hawkish tilt from the Fed lower the odds of near-term rate cuts, taking the steam out of investor desire for risk assets such as Bitcoin. Bitcoin is experiencing increased selling pressure as it drops below the critical support of $116,000, indicating a possible continuation of its short-term correction. This action follows against a backdrop of weakening technical strength, with both the MACD and RSI showing bearish indications. Contributing to the risk-averse sentiment, US-listed spot Bitcoin ETFs have seen a weekly outflow of $58.64 million, the first outflow in six weeks and reflecting a slowing in institutional demand. In addition, increasing open interest in conjunction with decreasing prices indicates a rise in short positions that can hasten the decline if bearish momentum continues. Bitcoin is below $116,000, breaking its recent range and indicating a possible short-term correction. Slowing momentum and ETF withdrawals indicate rising bearish pressure with downside risk intensifying. • Bitcoin has fallen below the lower edge of its range of consolidation, indicating possible further downside. • US-listed spot Bitcoin ETFs saw a moderate weekly outflow of $58.64 million, ending a six-week inflow streak. • Both daily and weekly RSI and MACD indicators reflect bearish indications, pointing to deteriorating bullish strength. • Open Interest has hit an all-time high of $44.5 billion, pointing towards growth in short positions during downward price movement. • If BTC remains below $116K, the next important support is around the 50-day EMA at $111,410 or the last ATH at $111,980. • Strong US economic reports and the hawkish tilt of the Fed reduce the prospects of interest rate reductions, putting extra pressure on risk assets. • A close above $120K on a daily basis might render the bearish scenario useless and allow for a retest of the $123,218 all-time high. Bitcoin’s sentiment this week is tempered by increasing investor wariness and pending macroeconomic headwinds. One of the most significant developments is the modest outflow from US-listed spot Bitcoin ETFs, to the tune of $58.64 million. This represents the end of a six-week inflow trend and indicates a potential reversal in institutional sentiment. The outflows, while modest, are an indication of early warning signs of a possible pullback in investor confidence. The increase in open interest, usually coupled with speculative activity, is also indicative that traders are refocusing their strategies amid shifting market conditions. BITCOIN DAILY PRICE CHART SOURCE: TradingView Apart from crypto-specific influences, general economic conditions also play a role in shaping sentiment. The US economy remains robust, with solid labor market readings and ongoing inflation pressures diminishing the chances of any near-term interest rate reductions by the Federal Reserve. At the same time, continued global trade updates—like a possible deal between the US and EU—are watching investors closely. Although geopolitical advancements like these may tighten market confidence, the present uncertainty is promoting risk aversion in the space of crypto. TECHNICAL ANALYSIS Bitcoin is displaying weakening momentum as it trades below the significant support of $116,000, breaking its recent range of consolidation. The Relative Strength Index (RSI) on the weekly chart has fallen away from overbought, currently at 65, and the daily RSI has fallen to 51 and is trending lower. This move signals diminishing bullishness. The Moving Average Convergence Divergence (MACD) on the daily chart also registered a bearish crossover, indicating potential further downside. If BTC cannot recover the $116K level, it could test the 50-day Exponential Moving Average (EMA) around $111,410, with continued pressure anticipated should bearish sentiment continue. FORECAST If Bitcoin is able to recover and close above the $116,000 level, it may indicate a possible rebound from its current retreat. A sustained advance above this threshold might prompt fresh buying interest, particularly if ETF flows normalize or turn into inflows. If BTC clears the top consolidation line of $120,000, it may set its sights on retesting the new all-time high of $123,218. Further encouragement of this bullish course may come from sustained optimism over global trade developments or positive macro changes. Downside risks include if it cannot regain $116,000, pushing Bitcoin into correction and further into key support regions. A conclusive daily close below this level raises the probability of a fall towards the 50-day EMA at $111,410, and even to the prior all-time high of $111,980. Increasing open interest with falling prices indicates heightened short positioning, which can reinforce bearish pressure. Further ETF redemptions and a strong Fed line on interest rates can also restrict upside and dampen market sentiment.

Read More
Bitcoin Crypto

Bitcoin Sees New All-Time Highs as US Crypto Legislation and Institutional Demand Drive Momentum

  • BY
  • July 19, 2025
  • 0 Comments

Bitcoin reached an all-time high of $123,218 this week, spurred by high institutional inflows and increasing regulatory clarity in the United States. The price then stabilized at $118,000, buoyed by $2.02 billion inflows in spot Bitcoin ETFs and the clearing of major crypto-related bills—GENIUS, CLARITY, and Anti-CBDC—by the US House of Representatives. These events, and news of an imminent executive order permitting crypto investments in 401(k) plans, have been encouraging investors. With some preliminary indications of cooling momentum, Bitcoin is still likely to retest its all-time highs in the days ahead. KEY LOOKOUTS • Look for a daily close above $120,000, which would indicate a break above recent all-time high of $123,218. • Watch for the eventual signing of the GENIUS, CLARITY, and Anti-CBDC bills by President Trump, potentially further fueling market sentiment. • Ongoing ETF inflows and corporate treasury buys are still main drivers of bullish momentum. • RSI close to overbought and a declining MACD histogram point to possible short-term consolidation or pullback. Bitcoin has been impressively resilient this week, hitting a new all-time high of $123,218 before consolidating near $118,000. This boom has been driven by institutional and corporate buying, with spot Bitcoin ETFs witnessing inflows of over $2 billion. Contributing to the positive mood, the US House approved significant crypto legislation—GENIUS, CLARITY, and Anti-CBDC bills—to pave the way for more transparent regulations for digital assets. With the market waiting for President Trump’s ultimate approval and the possible executive order permitting crypto in 401(k)s, investor optimism continues to be robust, setting up Bitcoin for another breakout in the near future. Bitcoin set an all-time high price of $123,218 this week underpinned by robust institutional inflows and US regulatory advancements. The price now ranges near $118,000 as markets anticipate additional policy news. A breakout above $120,000 may initiate a fresh rally. •  Bitcoin set an all-time high price of $123,218 at the start of the week. •  Price stabilized around $118,000 on Friday, indicating robust support. •  Spot Bitcoin ETFs saw $2.02 billion inflows as of Thursday. •  US House passed GENIUS, CLARITY, and Anti-CBDC crypto bills. •   President Trump will reportedly sign an executive order permitting crypto in 401(k) plans. •  Institutional demand continues to be strong, with 64 new BTC treasury company initiatives initiated in 2025. •  Technical metrics reflect bullish momentum, but room for short-term pullback exists. Bitcoin’s rally continued this week as it moved to a new all-time high, propelled by increasing interest from institutional investors and major regulatory breakthroughs in the US. The passing of three landmark crypto bills—GENIUS, CLARITY, and Anti-CBDC—by the US House of Representatives was a historic move toward creating a clear and friendly framework for digital assets. These legislative moves are intended to protect investors, bring clarity to regulation, and stimulate greater use of cryptocurrencies in the US financial system. BITCOIN DAILY PRICE CHART SOURCE: TradingView Institutional demand continued to build, reflected in more than $2 billion in spot Bitcoin ETF inflows this week alone. Besides, several corporations, among them prominent ones like Softbank, Bitfinex (XXI), and Trump Media & Technology Group, introduced BTC treasury programs in 2025. Reports also suggest that President Trump will possibly sign an executive order permitting crypto investments in retirement accounts such as 401(k)s. Combined, these moves portend a robust shift in the perception of digital assets and their adoption into mainstream finance, underscoring a bullish long-term view on Bitcoin. TECHNICAL ANALYSIS Bitcoin started the week off on a very strong footing, recording a fresh all-time high of $123,218 before falling back to $115,736 mid-week and subsequently rebounding to some $118,850. The Relative Strength Index (RSI) stands at close to 69, below the overbought threshold of 70, suggesting a respite in bullish momentum and possible trader indecision. At the same time, the MACD is still positive after a late-June crossover, but the diminishing green histogram bars indicate slowing momentum. A sustained close above $120,000 could revive bullish mood, or a failure to maintain current levels might lead to a near-term dip. FORECAST If Bitcoin is able to close above the $120,000 level on a daily basis, it has the potential to spark renewed bullish momentum and set the stage for a retest of the recent all-time high at $123,218. A decisive breakout above this level can result in price discovery, with targets stretching to $125,000 and higher, fueled by ongoing institutional inflows and favorable regulatory news. Heavy backing from future legislation and general market optimism may prove to be a catalyst for continued gains in the weeks ahead. On the negative side, should Bitcoin lose the grip above $118,000, there is a risk of a pullback to the $115,000–$113,000 zone of support. The RSI close to overbought signals the weakening momentum, and any indication of ETF slow-down in inflows or regulatory delay may prompt profit-taking. Short-term corrections should also be watched out for, particularly should macroeconomic uncertainty or unexpected market changes temper risk appetite.

Read More
Bitcoin Crypto

Bitcoin Under Increasing Pressure: Geopolitical Tensions and Market Uncertainty Pose Threat to Crucial $100,000 Support Level

  • BY
  • June 14, 2025
  • 0 Comments

Bitcoin price remains under pressure as rising geopolitical tensions in the Middle East and fresh trade uncertainties bring considerable weight down on market sentiment. Having briefly touched its all-time high earlier this week, BTC fell below $105,000 due to more than $1.15 billion liquidations throughout the crypto market. Even with some positive indicators, including continued institutional demand and large inflows into US spot Bitcoin ETFs, bearish technical signals like a fall below the 50-day EMA and a bearish MACD crossover indicate that Bitcoin may test the all-important $100,000 psychological support level if selling pressure continues. KEY LOOKOUTS • Ongoing conflict between Israel and Iran is continuing to drive global risk aversion, which pressures Bitcoin and other asset classes. • Institutional demand is strong in public companies and ETFs, with more than $1.07 billion in inflows to ETFs this week providing a degree of support to sentiment at the longer end. • Bitcoin’s fall below its 50-day EMA and bearish MACD crossover signal increased downside risk, with a retest of the $100,000 psychological figure a possibility. • Soft inflation readings could be supportive for risk assets in the longer run, but near-term uncertainty persists given conflicting market responses. Bitcoin remains under pressure as a mix of rising geopolitical uncertainty and unclear macroeconomic conditions sadden sentiment among investors. The Israel-Iran conflict has caused generalized risk-off flows leading to major liquidations in the cryptocurrency space. In spite of early-week optimism fueled by positive news in US-China trade negotiations and easing inflation data, Bitcoin was unable to hold onto its rally, falling below critical support levels. Strong institutional buying, especially from public firms and US spot Bitcoin ETFs, provides a hint of relief for long-term investors even as short-term bearish indicators indicate a possible retest of the $100,000 psychological threshold. Bitcoin wrestles to maintain above $105,000 with increased Middle East tensions and risk-averse market sentiment. Even as institutional inflows remain robust, bearish technical indicators indicate that BTC would test the important $100,000 support level if sell pressure persists. • Bitcoin price dips below $105,000 following a 4% decline in the last two days. • Rising Israel-Iran tensions provoke more than $1.15 billion in crypto market liquidations. • US-China trade optimism-fueled early-week gains erode under revived tariff threats. • US inflation figures softened as anticipated, yet still couldn’t give a boost to BTC’s price short term. • Public equities such as GameStop and Mercurity Fintech keep adding Bitcoin positions. • US spot Bitcoin ETFs witness $1.07 billion net inflows, ending two weeks of outflows. • Technicals suggest more downside risk with potential retest of support at $100,000. Bitcoin remains of great interest to institutional investors and public firms even though the market is presently experiencing a cautious mood. Companies such as Mercurity Fintech Holding Inc. and GameStop have recently issued large capital raises, with part going toward accumulating or creating additional Bitcoin holdings. This emerging interest on the part of established firms reflects Bitcoin’s increasing position as a strategic asset that can provide diversification and even long-term value protection in uncertain global economies. BITCOIN DAILY PRICE CHART SOURCE: TradingView Furthermore, US Bitcoin ETFs are demonstrating renewed vitality by logging more than $1.07 billion in inflows this week following a short stint of outflows. This uptick is indicative of unabated confidence from institutional investors that see Bitcoin as a sound investment even within the context of greater market volatility. The robust engagement of public companies and funds indicates that in spite of short-term market difficulties, long-term use of Bitcoin remains firmly entrenched. TECHNICAL ANALYSIS Bitcoin is showing signs of increasing bearish momentum. The price has fallen below the 50-day Exponential Moving Average (EMA) at $102,447, indicating potential for further downside. The Relative Strength Index (RSI) has slipped below the neutral 50 mark, currently reading 47, which signals weakening bullish strength. In addition, the Moving Average Convergence Divergence (MACD) line has developed a bearish crossover, creating a sell signal and indicating possible sustained pressure to the downside. If Bitcoin is unable to maintain above today’s levels of support, it could test the significant psychological level of $100,000. FORECAST If geopolitical risk eases and global risk appetite improves, Bitcoin could continue its positive momentum. Ongoing institutional demand, robust ETF inflows, and potential relaxation in US monetary policy as inflation cools down could aid a rebound. In this case, Bitcoin could try to retest its recent highs around $110,000 and potentially hit its all-time high of $111,980, given buying pressure remains intact. On the flip side, if geopolitical uncertainty increases further or if wider market uncertainty continues, Bitcoin could see more selling. A breakdown below the 50-day EMA on a closing basis could pave the way for a more severe correction towards the important psychological level of $100,000. A failure to hold at this support could initiate further liquidation, taking prices even lower in the near term.

Read More
Bitcoin Crypto

Bitcoin Grapples with Market Volatility: Price Reversal in Wake of Tariff Indecision and Institutional Withdrawal

  • BY
  • April 12, 2025
  • 0 Comments

Bitcoin prices have had an extreme price volatility this week, reversing their year-to-date low of $74,508 to trade about $82,500 by Friday. This reversals come despite increasing market indecision, ignited by President Trump’s tariff decrees and eventual 90-day reprieve. Although the cryptocurrency experienced a short-term rally on news of the tariff postponement, institutional appetite is still in the dumps, with Bitcoin spot ETFs witnessing a high net outflow. Also, fear of MicroStrategy’s possible sell-off of Bitcoin can also put more pressure on the market. Yet, against these odds, there have been some glimmers of hope, such as regulatory initiatives in Hong Kong to develop the region’s crypto market and hints that capitulation among investors may be almost over. Bitcoin’s prospects remain uncertain, with the potential varying from a recovery on a short-term basis to more losses, depending on market response to crucial technical levels. KEY LOOKOUTS • The market response to President Trump’s tariff actions, such as the 90-day delay, continues to be a major driver for Bitcoin’s short-term price action. Any developments or changes in trade tensions could have a profound effect on Bitcoin’s volatility. •  Ongoing withdrawals from Bitcoin spot ETFs, amounting to $712.27 million, reflect a declining institutional demand. This may exert downward pressure on the price of Bitcoin if it continues, especially since institutional investors have been responsible for the stability of Bitcoin’s price over the past few years. •  MicroStrategy’s large unrealized Bitcoin losses and its heavy dependence on Bitcoin as a core asset raise eyebrows. If the company were to be compelled to sell its holding, it would unleash a selling frenzy, accelerating supply pressure and affecting sentiment in the market. •  Although the market’s difficulties, the diminishing size of losses over recent weeks may signal that investor despair is close to ending. This may signal a possible change in market mood, providing a beacon of hope for a longer-term turnaround. Bitcoin’s market prospects are extremely unclear, fueled by continued tariff concerns, declining institutional demand, and the possible influence of MicroStrategy’s Bitcoin positions. The recent market volatility, following President Trump’s tariff statements and a follow-on 90-day hiatus, has seen tremendous price swings, as Bitcoin recovered to a year-to-date low around $82,500. Still, while recovery was noted, Bitcoin spot ETFs experienced deep outflows indicating declining institutional enthusiasm. Additionally, the potential threat of MicroStrategy having to dispose of some portion of its held Bitcoins because it has to honor financial obligations can threaten market stability. But indications of investor capitulation are beginning to display signs of fatigue, which might portend a move towards greater stability in the near term. The price of Bitcoin has seen extreme volatility, bouncing from a low of $74,508 to about $82,500 in the face of tariff uncertainty and declining institutional demand. Although fears of possible sell-offs by MicroStrategy and ETF outflows remain, indications of investor capitulation might signal a move towards stability. • Bitcoin’s value has experienced high levels of volatility over the past week, rallying from a low point of $74,508 to approximately $82,500, fueled by market indecision. •  The original decline in the value of Bitcoin was prompted by tensions regarding President Trump’s tariff statements, but a later 90-day respite sent relief signals and initiated a relatively modest rebound. •  Bitcoin spot ETFs have experienced heavy outflows, worth $712.27 million, as institutional investors lose interest. • MicroStrategy had a huge unrealized loss of $5.91 billion on its Bitcoin holdings, and there was concern that the company could be compelled to sell some of its Bitcoin to meet financial obligations. • If MicroStrategy is compelled to sell its Bitcoin holdings, it would cause a market sell-off, exacerbating supply pressure and hurting Bitcoin’s price. •  The size of losses trapped throughout the crypto space has fallen with every subsequent price leg lower, and this implies that investor capitulation is finally on the verge of concluding. • Hong Kong’s move to legalize staking by approved platforms and ETFs is regarded as an encouraging development, signaling increasing regulatory clarity and facilitating institutional adoption, which indirectly may benefit Bitcoin demand. The price of Bitcoin this week has been closely tied to events around the world and market response to uncertainties about trade policy. One of the main drivers of volatility was the announcement of tariffs by President Trump, followed by a brief moratorium that gave some relief to the market. Although Bitcoin rallied, there is still concern over institutional interest as seen in high outflows from Bitcoin spot ETFs. This signals a change in institutional investors’ perspective toward the cryptocurrency, which might cause more trouble for the markets. BITCOIN DAILY PRICE CHART CHART SOURCE: TradingView On the corporate front, MicroStrategy’s financial condition has been a cause for concern as the company is sitting on huge unrealized losses on its Bitcoin holdings. The threat of possible sell-offs to meet financial commitments can rattle investor confidence and increase market pressure. There are, however, encouraging signs, like Hong Kong’s decision to strengthen its crypto regulations, which can drive future institutional demand and lay the groundwork for long-term growth in the space. TECHNICAL ANALYSIS The price action of Bitcoin this week has been characterized by extreme volatility, with the cryptocurrency staging a temporary bounce following a new year-to-date low. The price of Bitcoin failed to pass resistance levels, especially the $85,000 level, and was rejected by a declining trendline extending from highs made before. Relative Strength Index (RSI) indicates a possible increase in bearish momentum, showing that the price may see more corrections if it is unable to sustain upward momentum. Although the recent bounce back, Bitcoin’s technical outlook continues to be uncertain, with chances of a temporary rally or continued downfall based on how the market reacts to critical price levels and trendlines. FORECAST The price of Bitcoin may continue its recovery if it manages to break above the falling trendline and close above crucial resistance points, including $85,000. If this happens, it could unlock more bullish momentum, driving Bitcoin towards the psychological $90,000 level, and

Read More
Bitcoin Crypto

Bitcoin Weekly Forecast: BTC Levels Out At Around $84,000 Following Regulatory Clarity and Fed Policy Cues

  • BY
  • March 22, 2025
  • 0 Comments

Bitcoin holds its ground at $84,000 this week thanks to encouraging regulatory clarity from the US SEC and sound interest rate policy cues from the Federal Reserve. Institutional buying is also recovering, as evident from healthy flows into US spot Bitcoin ETFs. Furthermore, decreasing global tensions and crypto-positive utterances by political leaders have additionally improved confidence levels in the market. As technical indicators report contradictory signals, total sentiment remains positive but with caution since Bitcoin is still acquiring mainline popularity and regulatory approval. KEY LOOKOUTS • The SEC explanation that Proof-of-Work (PoW) mining incentives are not securities boosted investor mood and may usher in new institutional investors for Bitcoin. • The Federal Reserve maintained rates steady and repeated its rate cutting projection, creating a conducive macroeconomic climate for crypto assets such as Bitcoin. • US spot Bitcoin ETFs experienced a total net inflow of $661.20 million this week, which could be an indication of a renewed surge in institutional demand and a relief from recent sell-side pressure. • The ongoing Gaza tensions and Bitcoin’s inability to hold above the 200-day EMA are reasons for concern. A more severe pullback is possible if BTC fails to regain support above $85,500. Even with Bitcoin stabilizing near the $84,000 level this week, the market continues to hang in the balance as a combination of macroeconomic drivers and geopolitical considerations remains at large to shape investor sentiments. The recent indication by the US SEC that Proof-of-Work (PoW) mining incentives do not constitute securities has given a regulatory boost with the potential to attract more institutional investment. Concurrently, the Federal Reserve’s stance in keeping interest rates unchanged and reaffirming its rate-cut projection has provided a positive environment for risk assets such as Bitcoin. Further, the significant net inflow of $661.20 million into US spot Bitcoin ETFs indicates a potential resurrection in institutional demand. Still, increased geopolitical tensions push, especially in Gaza, and Bitcoin’s failure to hold above the 200-day EMA mean caution continues to be justified in the short term. Bitcoin stays flat at $84,000 with positive regulatory clarity and consistent Fed policies. Solid ETF inflows indicate increasing institutional demand, but geopolitical tensions and technical resistance at the 200-day EMA make caution prudent in advance. • Bitcoin price steadies at $84,000 after recovering 2% for the week. • US SEC makes it clear PoW mining rewards aren’t securities, with improving market sentiment. • The Federal Reserve leaves interest rates unchanged and holds rate cut projection for 2025. • US spot Bitcoin ETFs see a net inflow of $661.20 million, with increased institutional demand. • BTC briefly reached $87,000 but couldn’t hold above its 200-day EMA, reflecting technical weakness. • Geopolitical events, such as the Gaza conflict and US-Russia-Ukraine negotiations, remain in the minds of investors. • If BTC cannot retake the 200-day EMA at $85,500, then a correction to support levels of $78,258 is likely. Bitcoin remained resilient this week, maintaining its ground around the $84,000 mark against general market uncertainties. One of the main drivers behind this stability is the encouraging regulatory progress from the US Securities and Exchange Commission (SEC), which made it clear that Proof-of-Work (PoW) mining rewards do not fall under securities. This move has generated a big increase in investor sentiment and indicated a more positive approach to the crypto market. In addition to this, the Federal Reserve’s commitment to holding interest rates and keeping its rate cut view for the year has also boosted sentiment in financial markets, including cryptocurrencies like Bitcoin. BITCOIN Daily Price Chart Chart Source: TradingView Furthermore, the substantial inflow of $661.20 million into US spot Bitcoin ETFs indicates renewed institutional investor appetite, reflecting increased confidence and long-term hope in the market. Other positive global events, including diplomatic negotiations among the US, Russia, and Ukraine, have also been contributing to reducing some of the investor anxiety. Additionally, President Donald Trump’s friendly attitude toward crypto, particularly his speech during the Digital Asset Summit, further contributed to the general positive storyline for the space. As Bitcoin keeps gaining acceptance from the mainstream and institutional investment, such developments become instrumental in defining the future direction of digital assets. TECHNICAL ANALYSIS Bitcoin encountered resistance after touching briefly the $87,000 threshold earlier in the week but found it difficult to sustain above pivotal levels. Despite breaking above the 200-day Exponential Moving Average (EMA) initially, it could not sustain that level of support, which could indicate short-term vulnerability. The Relative Strength Index (RSI) also showed losing momentum, moving below the mid-point 50 level. If Bitcoin is able to retake and maintain above the 200-day EMA around $85,500, it may continue its rally towards the $90,000 psychological level. But if it fails to retake this level, it may pull back towards the next significant support level around $78,258. FORECAST Bitcoin is able to retake and hold above the 200-day Exponential Moving Average (EMA) around $85,500, it may indicate a continuation of the bullish trend. Bullish macroeconomic signals, regulatory guidance by the SEC, and robust institutional flows via spot ETFs can be the stimulus needed for BTC to test the $87,000 resistance area again. If a breakout occurs above this threshold, it will clear the way for the next important psychological target of $90,000, which will continue to draw more buyers and further solidify general market sentiment. On the negative side, though, if Bitcoin cannot retake support at the 200-day EMA and keeps facing selling pressure, it can activate a deeper correction. The subsequent important support comes at around $78,258, and breaking below that may increase bearish sentiment. Rising geopolitical tensions or declining ETF inflows are also possible causes of increased selling pressure. In this scenario, investors are likely to adopt a risk-off strategy, causing further short-term downside action.

Read More
Bitcoin Crypto

Bitcoin’s Road to Recovery: Will Trump’s US Strategic Bitcoin Reserve and the White House Crypto Summit Trigger a Rebound?

  • BY
  • March 8, 2025
  • 0 Comments

Bitcoin remains subject to volatility and uncertainty, its price falling more than 5% this week, currently sitting at around $88,900. Although a surprise statement by President Trump that the US Strategic Bitcoin Reserve would be established triggered a temporary rally, the market soon corrected, resulting in substantial liquidations. Institutional outflows, increasing geopolitical tensions, and economic worries, including stagflation threats, have added to the bearish pressure on Bitcoin. While the first-ever White House Crypto Summit is underway, investors are optimistic that cryptocurrency regulation and innovation talks may offer a catalyst for a turnaround. But the fate of the market depends on the Summit’s results, and any failure to take concrete steps could further discourage investor. KEY LOOKOUTS • Bitcoin’s recent volatility has led to $1.67 billion in liquidations, indicating continued market uncertainty and possibility of further price volatility. • The result of the first White House Crypto Summit may have a profound effect on Bitcoin’s regulatory environment, impacting investor sentiment and price action. • President Trump’s executive order to create a Strategic Bitcoin Reserve may indicate growing institutional participation in Bitcoin, impacting its long-term value and adoption. • Ongoing redemptions from Bitcoin ETPs and ETFs demonstrate fading institutional demand, which can create additional pressure to the downside if the trend continues. Bitcoin is now undergoing a phase of increased volatility, with large market movements and liquidations totaling $1.67 billion this week alone. President Trump’s launch of his Strategic Bitcoin Reserve via an executive order has created momentary optimism, but this is followed by a correction in the market, citing the volatile nature of cryptocurrency prices. The ongoing White House Crypto Summit is a critical event in that it might bring regulatory illumination and more pointed guidance that will enhance investor sentiment. Still, with institutional flows still out, Bitcoin is facing increasing difficulties in terms of continued demand, and its price action is uncertain. How these things play out in the next few weeks will be pivotal in defining Bitcoin’s direction. Bitcoin is subject to great volatility, with recent market movement and $1.67 billion in liquidations. Whether President Trump’s Strategic Bitcoin Reserve and the White House Crypto Summit are successful in their endeavors can influence the future of Bitcoin, but continued institutional outflows threaten its recovery. • Bitcoin has fallen more than 5% this week to trade at approximately $88,900, under conditions of greater volatility and uncertainty in the market. • The recent market volatility has resulted in $1.67 billion worth of liquidations, reflecting the volatile nature of Bitcoin’s price action. • President Trump issued an executive order to establish a US Strategic Bitcoin Reserve, with the goal of keeping Bitcoin as a store of value and improving the country’s crypto strategy. • The inaugural White House Crypto Summit, aimed at cryptocurrency regulation and innovation, is viewed as a possible trigger for more defined policy and market calm. • Bitcoin ETFs and ETPs have seen notable outflows, totaling $329.90 million, which are indicative of diminishing institutional appetite for the cryptocurrency. • Bitcoin is holding up at the 200-day Exponential Moving Average at $85,843, and further falls may be in the offing if this support is breached. Bitcoin is now confronted with huge uncertainty, with recent market fluctuations raising alarm in the minds of investors. President Trump’s decision to establish a Strategic Bitcoin Reserve via an executive order has added a new element to the crypto market, seeking to make Bitcoin a more stable asset in the U.S. financial system. This reserve, which will be used to store Bitcoin as a store of value, is an indication that the government is serious about incorporating digital assets into its overall economic plan, which could lead to more institutional participation in the future. BITCOIN DAILY PRICE CHART CHART SOURCE: TradingView At the same time, the inaugural White House Crypto Summit is making waves, as it will convene industry leaders to discuss the future of cryptocurrency regulation and innovation. With talks set to frame the regulatory environment for digital assets, the summit might bring much-needed clarity and sway investor sentiment. Institutional withdrawals from Bitcoin ETFs are still underway, yet investors still harbor an increasing sense of guarded optimism that government policy, combined with clearer policies, will ultimately result in a more stable and benign environment for cryptocurrencies. TECHNICAL ANALYSIS Bitcoin is now testing major support levels, specifically around the 200-day Exponential Moving Average (EMA) of $85,843. The price has failed to regain momentum upwards after being rejected close to the $95,000 mark, with the Relative Strength Index (RSI) indicating bearish signals, which is a sign of downward pressure. The Moving Average Convergence Divergence (MACD) indicator also indicates indecision in market sentiment, as no trend direction is evident. As long as Bitcoin defends the $85,000 level, it is likely to seek recovery towards earlier highs, though breaking below will open the window to more loss-making moves in the direction of $73,000. FORECAST If Bitcoin is able to maintain prices above the important support level of $85,000, there is hope for recovery. Upbeat attitude toward President Trump’s Strategic Bitcoin Reserve and the White House Crypto Summit may restore investor confidence, triggering a rally. If Bitcoin is able to break resistance at $95,000, it is likely to push towards retesting the $100,000 mark. Institutional buying may gather momentum as the government becomes more proactive in regulating and embracing digital assets, infusing further upward momentum. But if Bitcoin cannot hold support at the $85,000 level and breaks lower, it may experience further losses. The continuing institutional outflows along with general economic issues such as global market volatility and stagflation concerns add to the pressure. In this case, a test of the next level of support at $73,000 is possible, with additional downside risk if macroeconomic conditions persist and worsen or if market sentiment turns sour after the White House Crypto Summit.

Read More
Bitcoin Crypto

Bitcoin Price Prediction: Volatility Hangs Over Head as White House Crypto Summit Nears

  • BY
  • March 5, 2025
  • 0 Comments

Bitcoin is under increased volatility as it heads into the inaugural White House Crypto Summit, with prices at around $87,600 after stabilizing at $85,000. The summit, which takes place on Friday, is likely to determine future regulation and innovation in the crypto space, creating uncertainty for the market. While that is happening, Bitcoin ETFs also remain in apparent outflows, reflecting poor institutional demand, which may put additional pressure on prices. There is still some optimism, though, as Japanese investment company Metaplanet recently added to BTC holdings, which lifted investor morale. If the $85,000 support level remains, Bitcoin may try to recover, but traders should be wary of possible market volatility. KEY LOOKOUTS • The coming summit has the potential to shape Bitcoin regulations and sentiment, which may result in heightened volatility and define the future of crypto policies. • Bitcoin ETFs saw $217.7 million in outflows this week, which indicates waning institutional appetite, and more price corrections can be expected if the trend continues. • Whether a recovery rally towards $95,000 is feasible will be determined by Bitcoin’s ability to maintain above this critical support, which is situated in line with the 200-day EMA. • Speculators around key events, such as Trump’s crypto position and regulatory changes, should be watched out for by traders since they may trigger sudden price movements and liquidations. The future of Bitcoin is uncertain as the crypto space prepares for possible volatility leading up to the White House Crypto Summit. The event may provide clarity on regulations, which will lead to investor confidence and institutional adoption. However, ongoing Bitcoin ETF outflows indicate a cautious stance among institutional investors, raising concerns about market stability. While corporate investments like Metaplanet’s recent Bitcoin purchase reflect long-term optimism, short-term price movements will likely depend on regulatory outcomes and broader market sentiment. As the industry awaits key policy discussions, traders should prepare for possible fluctuations in the coming days. Bitcoin is susceptible to volatility ahead of the White House Crypto Summit, with investors keenly monitoring regulatory updates. Institutional withdrawals keep weighing on BTC, while support at $85,000 holds the key for a rebound. Market speculation and changing sentiment are likely to generate sharp price moves, and thus caution is advisable for investors. • The historic summit may dictate regulatory policies and market sentiment and, in the process, drive Bitcoin volatility. • BTC fluctuates at $87,600 after rebounding from the $85,000 support, with possible recovery to $95,000 if momentum continues. • Bitcoin spot ETFs experienced $217.7 million of outflows this week, indicating weakening institutional demand and possible further price corrections. • There was a brief rally after Trump’s ‘Crypto Strategic Reserve’ announcement but was wiped out, demonstrating a “buy the rumor, sell the news” effect. • BTC’s capacity to remain above this significant level, which coincides with the 200-day EMA, is important for any prospective bullish action. • Speculative actions surrounding regulatory news and institutional participation may cause sudden price movements and potential liquidations. • The $44 million BTC acquisition by the Japanese investment company sparked optimism, showing that some institutions continue to view Bitcoin as a solid asset. The upcoming White House Crypto Summit marks a significant moment for the cryptocurrency industry, bringing together key industry leaders, policymakers, and investors to discuss the future of digital assets. This event highlights the growing importance of cryptocurrency in the financial sector and signals the government’s increasing involvement in shaping regulations. With the topics of innovation, security, and compliance expected to be discussed, the summit may shape the way that crypto becomes a part of mainstream finance. The involvement of high-profile individuals further adds to the likely shift towards a more regulated and organized crypto environment. BITCOIN Daily Price Chart Chart Source: TradingView That being said, institutional demand for Bitcoin remains one of the most influential drivers of market sentiment at the same time. As some investment companies are expanding their Bitcoin reserves, overall fluctuations in demand are mirroring wider uncertainties within the sector. The shifting regulatory environment, as well as debates surrounding crypto policies at the highest level, may decide the next stage of adoption and integration. As institutions and governments adopt a more formal stance on digital assets, the future effect on the crypto market will be significantly based on the manner in which regulation strikes a balance between innovation and investor protection. TECHNICAL ANALYSIS The crypto industry is at a pivotal juncture as global debate around regulation and adoption builds momentum. The forthcoming White House Crypto Summit is evidence of how digital assets increasingly play a role in mainstream finance as policymakers and industry executives convene to discuss the future of crypto innovation. The gathering underscores the necessity of clear regulatory guidelines to balance security, compliance, and expansion while instilling investor and institutional confidence. As governments and corporations chart their course through this shifting terrain, choices made today may determine the future place of cryptocurrencies within the world economy. FORECAST The price of Bitcoin may experience a bullish push if encouraging news flows from the White House Crypto Summit, especially if the conversation turns in the direction of straightforward and welcoming regulations. A well-defined regulatory environment would increase investor confidence, draw institutional investment, and propel Bitcoin’s acceptance within mainstream finance. Besides that, increased corporate investments, including Metaplanet’s latest Bitcoin buy, suggest some institutions still believe long-term prospects in digital assets. If that type of investment persists, Bitcoin might see fresh demand and price hikes in the near future. To the negative side, institutional participation uncertainty remains the most critical factor. Bitcoin ETFs have shown major outflows, implying deteriorating demand among big players, which would bear down on prices. In addition, regulatory uncertainty and market speculation tend to stimulate volatility, with sudden price fluctuations and potential liquidations impacting traders. In case institutional outflows continue and no firm regulatory support comes from the forthcoming summit, Bitcoin would find it challenging to stay stable and could be subject to further falls in the short term.

Read More
Bitcoin Crypto

Bitcoin Price Prediction: BTC Rally Falters Amid Institutional Selling and Tariff Uncertainty

  • BY
  • February 28, 2025
  • 0 Comments

Bitcoin was highly volatile this week, trading at around $86,000 following a steep 15% drop that saw prices dip as low as $82,256. The decline was largely fueled by President Trump’s renewed tariff threats and declining institutional demand, as seen through massive ETF outflows of $2.2 billion. Technical indicators, such as an oversold RSI, suggest a possible rebound, but traders are still wary in the face of general market uncertainty and concerns that more corrections will send Bitcoin’s price to about $73,000. KEY LOOKOUTS • Bitcoin ETFs experienced $2.2 billion in outflows, adding selling pressure and raising questions about sustained downside momentum. • Trump’s suggested 25% tariffs on the EU and North America add to market uncertainty, potentially putting additional weight on BTC price action. • BTC’s significant support is $73,000; a fall below this may initiate a deeper correction, but RSI suggests potential recovery. • As concerns over stagflation increase, Bitcoin remains trading in tandem with risk assets, with liquidation pressure in the face of economic uncertainty. Bitcoin’s latest price movement indicates a struggle between rebounding and more downward pressure, with the cryptocurrency stuck near $86,000 after an intense 15% fall this week. The rout was prompted by institutional players liquidating their holdings, with Bitcoin ETFs posting $2.2 billion of net redemptions over the last three days. Compounding the doubts, President Trump’s threat to impose tariffs on the European Union, as well as delayed tariffs on Canada and Mexico, triggered risk-off across world markets. The analysts suggest that if bearish pressure continues, BTC can challenge the decisive $73,000 support threshold. But as the RSI indicator also displays oversold, a possible flip remains in consideration, leaving speculators in waiting mode. Bitcoin is trading at $86,000 following a steep 15% fall, fueled by institutional selling and Trump’s tariff threats against the EU. With $2.2 billion worth of Bitcoin ETF outflows, market sentiment is still bearish, and BTC may test the $73,000 support level if selling pressure persists. Nevertheless, the RSI indicates oversold levels, which may see a rebound. • BTC is trading at $86,000 following a steep 15% fall earlier this week. • Bitcoin ETFs experienced $2.2 billion in net outflows in the last three days, adding to selling pressure. • President Trump’s suggested 25% tariffs on the EU and delayed duties on Canada and Mexico have sparked risk-off sentiment. • Stagflation and economic instability fears have prompted investors to cut risk exposure, affecting BTC prices. • If selling pressure persists, BTC may test the key $73,000 support level in the next few days. • The Relative Strength Index (RSI) is oversold and may reflect a reversal or bounce. • Although there’s a possibility of a rebound, BTC is still volatile, and traders need to be ready for more price fluctuations. Bitcoin’s recent price action underscores the influence of externalities, such as geopolitical tensions and changing investor sentiment. The current tariff talks, especially President Trump’s suggested 25% tariff on the European Union, have introduced uncertainty in financial markets, including cryptocurrencies. Investors are watching closely as global economic policies continue to influence the digital asset space. Institutional investors, meanwhile, have been selling their Bitcoin holdings, adding to overall market trends and informing trading behavior. BITCOIN Daily Price Chart Chart Source: TradingView Apart from market forces, the use of Bitcoin as a hedge for economic uncertainty is also an important topic of discussion. While others consider it a store of value, there are others who perceive it as a high-risk asset to be buffeted by external factors. The cryptocurrency market is always closely associated with macroeconomic indicators, regulatory actions, and investor sentiment, all of which are influential in determining its future. With the changing global financial environment, Bitcoin remains in the middle of all the talk regarding digital assets and their role in today’s economy. TECHNICAL ANALYSIS Bitcoin recently broke below significant support levels, which was a sign of a change in momentum. The recent selling pressure, fueled by institutional outflows and macroeconomic uncertainties, has added to heightened volatility. Nonetheless, technical analysis using Relative Strength Index (RSI) also points toward oversold situations that might precipitate a reversal or short-lived relief rally. Even the trend of volume confirms diminished buying interest that continues to underscore cautious feelings from the trading fraternity. Bitcoin might experience more corrections unless it finds renewed strength past the levels of resistance, yet breaking through principal moving averages will reverse bullish vigor. FORECAST Bitcoin may pick up steam and move towards higher resistance levels. A decline in institutional outflows and renewed buying interest from big investors may create buying pressure, firming up the price. Moreover, any favorable macroeconomic news, including clarity on tariffs or alleviating inflation fears, may restore confidence in risk assets, including BTC. If demand picks up, Bitcoin may regain earlier highs and try to break resistance levels, indicating a possible bullish trend. On the negative side, Bitcoin is still susceptible to further corrections if selling pressure persists. Institutional investors selling their holdings and continued uncertainty regarding global economic policies may trigger another round of declines. If Bitcoin fails to hold onto key support levels, it can test lower price levels, possibly hitting the $73,000 level. Additionally, macroeconomic threats like extended stagflation concerns and decreased liquidity in financial markets may contribute to downward pressure, making short-term recovery difficult.

Read More
Bitcoin Crypto

Bitcoin Price Falls Below $90,000: Liquidations Mount as Market Responds to Bybit Hack

  • BY
  • February 25, 2025
  • 0 Comments

Bitcoin’s price is down below $90,000, wrapping up its consolidation phase and causing epic liquidations in the crypto market. In the last 24 hours, $1.34 billion of liquidations erased 367,500 traders, with the largest individual order at $20.80 million on Binance. The fall comes in the wake of a security incident at Bybit, which saw the exchange lose about $2 billion worth of BTC from its coffers. Uncertainty in the markets and mounting selling pressure have pushed Bitcoin to a low of $88,200, with analysts issuing warnings that additional losses could send BTC to the $85,000 support point. But in the event that sentiment improves, Bitcoin can try to regain the $100,000 level. KEY LOOKOUTS • BTC drops to $88,200, a steep 4.89% drop and ending its prolonged consolidation, worrying investors. • More than $1.34 billion in liquidations erased 367,500 traders, with the biggest single order of $20.80 million on Binance, boosting selling pressure. • Bybit lost approximately $2 billion in BTC from reserves as a result of a security breach, resulting in increased investor fears and market withdrawals. • Bearish momentum in Bitcoin persists, with RSI approaching oversold levels. Further decline can test $85,000, and a bounce can test $100,000. Bitcoin’s sudden drop below $90,000 has caused enormous liquidations, erasing 367,500 traders and a total of $1.34 billion in losses. The downturn in the market comes after a security hack at Bybit that saw a loss of $2 billion in BTC reserves, instilling uncertainty and investor withdrawals. The largest volume liquidation order of $20.80 million happened on Binance, contributing to the selling wave. With Bitcoin’s drop to $88,200 and its RSI close to oversold, experts indicate that BTC may challenge the $85,000 support level if the bearish trend continues. The price, however, can still rebound and recover towards the $100,000 psychological level. Bitcoin’s price fell below $90,000, initiating $1.34 billion worth of liquidations and eliminating 367,500 traders. A $2 billion BTC loss by Bybit reserves created market uncertainty. If the bearish strength prevails, BTC might challenge $85,000, while a reversal could reach $100,000. • BTC falls to $88,200, putting an end to its extended consolidation period and causing major market volatility. • More than $1.34 billion worth of liquidations erased 367,500 traders in 24 hours, with the single biggest order valued at $20.80 million on Binance. • Bybit lost about $2 billion worth of BTC reserves following a security breach, and this triggered heightened investor withdrawals and market volatility. • The breach and market anxiety prompted a wide sell-off, driving Bitcoin to lower support levels and enhancing downward momentum. • The Relative Strength Index (RSI) on the daily chart is 30, which indicates strong bearish momentum and a possible further price drop. • Experts warn that Bitcoin may test the $85,000 level if the bearish trend persists, fuelling fears of further corrections. • If Bitcoin recovers, it may retest its $100,000 psychological level, so investor sentiment will be the key to what happens next. Bitcoin’s recent decline below $90,000 has caused shockwaves in the cryptocurrency space, spawning across-the-board liquidations and jitters among investors. The unexpected dip follows a security hack at Bybit, where up to $2 billion worth of BTC reserves were stolen, leading the majority of users to withdraw their funds. The incident has raised eyebrows regarding the security of centralized exchanges and the need for self-custodial wallets. The cryptocurrency community is paying close attention to how exchanges react to such incidents, as investor sentiment is important in keeping the market stable.  BITCOIN Daily Price Chart TradingView Prepared by ELLYANA The sell-off has also affected traders, with more than $1.34 billion worth of liquidations taking place within 24 hours, hitting 367,500 traders. Market sentiment has been dented, as fear and uncertainty spread after the Bybit incident. Though Bitcoin has experienced similar declines in the past, the situation now accentuates the increasing difficulty of securing digital assets. In the backdrop, talk of decentralized finance (DeFi) and self-custody is gaining traction as investors look for safer options to safeguard their investments. TECHNICAL ANALYSIS Bitcoin’s recent price action indicates robust bearish momentum, with the price falling below the important psychological level of $90,000. The collapse of this level precipitated massive liquidations, indicating rising selling pressure. The Relative Strength Index (RSI) on the daily chart has fallen to 30, close to oversold levels, which means that BTC may be in need of a short-term rebound. But the inability to stay above the $94,000 support level indicates that Bitcoin may test lower support levels, with $85,000 becoming a key level to monitor. On the positive side, a bounce above $91,500 might be a sign of a reversal but with stubborn resistance at $94,000 and $100,000 that could cap the upside action. Traders are taking keen interest in volume action and market sentiment to determine if Bitcoin will bounce back into its bullish trend or maintain its downside correction. FORECAST Bitcoin’s recent fall below $90,000 is a sign of sustained selling, with prospects of further downward action. The breakdown of the crucial support levels has added bearish momentum, and if BTC cannot hold up above $88,000, it might prolong its correction down to $85,000. Market sentiment is still weak courtesy of the Bybit security breach, which has instilled fear among investors. Also, liquidation figures indicate that investors are selling their positions, which further adds to the negative momentum. If selling persists, Bitcoin could struggle to establish firm support, paving the way for a potential retest of lower levels. Bitcoin has proven to be resilient in the past in bouncing back from market dips. If investors step in and push BTC above $91,500, it can regain its bullish trend, with a possible retest of the $94,000 resistance level. A break above this range could unleash more gains, with the psychological $100,000 level being the next key resistance. Moreover, if RSI stays in oversold levels for a long time, a relief rally may happen, drawing buyers who seek cheap entry points. Institutional demand and overall

Read More