Crypto research platform 10x Research has recently reported that the Bitcoin Relative Strength has surged to 40%, indicating a potential rally in the flagship cryptocurrency. The platform’s newsletter, titled “Fake Dip?”, drew attention to the historical pattern of Bitcoin experiencing rallies when its relative strength index (RSI) drops to 40%. This statistical analysis suggests that
Bitcoin
After a week of bearish pressure, Bitcoin managed to stage a strong comeback on Friday, crossing the $60,000 mark once again. This resurgence in the price of BTC raised hopes among investors for a sustained rally. However, the question that looms large is whether this upward momentum can be maintained in the coming days. According
The recent drop in Bitcoin’s price below the $59,000 support level has caused a ripple effect in the cryptocurrency market. This sudden decrease has led to liquidations in the futures market, sparking concerns among analysts about the possibility of a more significant decline in the absence of a full-scale market capitulation. According to CryptoQuant, approximately
The recent Bitcoin price crash that brought the value below $60,000 has raised concerns about critical support levels for the cryptocurrency. One crypto analyst, Norok, highlighted the significance of the $51,800 support level for maintaining a bullish trend in Bitcoin. This level has been identified as a crucial point for the cryptocurrency, as it represents
Bitcoin’s recent price movement has seen the cryptocurrency breaking below the $60,000 support level for the first time in two months. This shift comes after a period of euphoria in the market, fueled in part by the launch of Spot Bitcoin ETFs in the US. However, a new report from Glassnode, an on-chain analytics firm,
It is essential to delve into the significance of the $59,800 price level for Bitcoin, as highlighted by crypto analyst Ali Martinez. Martinez pointed out that this price level holds critical implications for the future trajectory of the flagship cryptocurrency. According to Martinez, there are two possible scenarios that could unfold if Bitcoin were to
Lark Davis, a prominent cryptocurrency analyst, has recently pointed out key developments within the Bitcoin ecosystem that could lead to a more vigorous bull cycle than initially anticipated. One significant factor is the aftermath of the Bitcoin Halving event, which has resulted in miners being able to produce only 450 BTC per day. This scarcity
Crypto analyst DonAlt recently outlined a scenario where the Bitcoin price could potentially drop to as low as the mid-$40,000 range. He mentioned that this price breakdown might be necessary for the continuation of Bitcoin’s current bull run. DonAlt noted that Bitcoin had dropped back to around the $60,000 price range and could potentially break
The Bitcoin network has recently experienced a significant increase in trading activity following the halving event. Despite the halving garnering attention for the cryptocurrency, the surge in trading can be attributed to the introduction of the Runes token standard. Data from on-chain analytics platform IntoTheBlock reveals that the number of daily BTC transactions has spiked
The latest on-chain data reveals a troubling trend for the Bitcoin network, as high-value transactions have been steadily declining in recent weeks. This decline in activity has not gone unnoticed, as it mirrors the struggles of the premier cryptocurrency’s price to break out of consolidation during the month of April. The past week has been
