Tag: 112K

Bitcoin ETFs flows could bring BTC to $112k price, CryptoQuant suggests

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The price of Bitcoin (BTC) could reach $112,000 as early as 2024, according to CryptoQuant. CryptoQuant CEO Ki Young Ju believes the current trend of inflows related to spot exchange-traded funds (ETFs) will continue. He said the “worst case scenario” for Bitcoin would be at least $55,000, or almost 15% higher than prices on Monday, Feb. 12. The targets were set based on the impact of inflows on Bitcoin’s market capitalization and a metric ratio that historically indicated whether prices were “overvalued” or “undervalued.” At the same time, the BTC…

Market Wrap: Bitcoin Slips to $11.2K; Uniswap Flows Dominate Ether

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Bitcoin is trending downward while ether transaction activity is showing Uniswap’s influence on the market. Bitcoin (BTC) trading around $11,359 as of 20:00 UTC (4 p.m. ET). Slipping 0.38% over the previous 24 hours. Bitcoin’s 24-hour range: $11,286-$11,555 BTC below its 10-day and 50-day moving averages, a bearish signal for market technicians. Bitcoin trading on Bitstamp since Oct. 12.Source: TradingView Bitcoin’s price dipped Wednesday after a move up to as high as $11,555 on spot exchanges like Bitstamp lost momentum. The world’s largest cryptocurrency by market capitalization then slipped to…

Bitcoin Price Holds Strong At $11.2K: A Strengthening Case For $12K

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Bitcoin gained bullish momentum and rallied above the $11,000 resistance against the US Dollar. BTC is consolidating gains above $11,200 and it could extend its rise to $12,000. Bitcoin started a strong increase after it cleared the $10,950 and $11,000 resistance levels. The price is now trading well above $11,200 and the 100 simple moving average (4-hours). There was a break above a major contracting triangle with resistance near $10,750 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair could correct lower, but buyers are…

Bitcoin Price Briefly Crashes to $11.2K After US Jobs Data Disappoints

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The price of Bitcoin (BTC) dropped to $11,219 on Bitstamp on Aug.7 after the United States stock market declined. BTC recovered quickly from the brief crash, stabilizing at above $11,600. The price of Bitcoin drops steeply on Bitstamp. Source: TradingView.com The release of new job data caused the U.S. stock market to slump in mid-day. Non-farm payrolls rose by 1.763 million in July, surpassing Wall Street expectations by 10.6%. Despite the optimistic job data, analysts are seemingly concerned that the job market is not growing fast enough. Since the pandemic began…

Market Wrap: Bitcoin Flat at $11.2K; DeFi Has Highest Volume Month Ever

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Bitcoin trading is weak Tuesday while volumes on DeFi are as high as they have ever been. After wild Sunday action that saw the price of the world’s oldest cryptocurrency fall as low as $10,050 on spot exchanges like Coinbase, bitcoin is trading relatively flat, at around $11,200 Tuesday. “The asset is trading in a narrow range of $11,080 to $11,220,” said Constantine Kogan, a partner at crypto fund of funds BitBull Capital. “To continue last week’s rally, bitcoin needs to overcome the resistance level, which is in the $11,300-…