Tag: Bullish

This Major BTC Metric Just Turned Bullish Once Again

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A crucial Bitcoin metric has just turned bullish, sparking optimism from a crypto analyst regarding an impending rally for Bitcoin. This unique technical pattern suggests that the world’s largest cryptocurrency could see its price ascending further, potentially kick-starting a highly welcomed bull run this cycle.  Bitcoin Technical Pattern Flips Bullish Bitcoin’s price has often followed distinct historical patterns, with the majority of these indicators preceding significant rallies or bearish trends. One of the most compelling signs that Bitcoin may be turning bullish again is seen as the Stablecoin Supply Ratio…

Bitcoin (BTC) Regains $66K Following Bullish ETF Data

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Bitcoin (BTC) rose to past $66,000 early Friday, reversing Thursday’s pullback below $65,000. At the time of writing, it was priced around $66,440, 0.4% higher than 24 hours ago, while the CoinDesk 20 Index (CD20), which offers a measurement of the wider digital asset market, was up about 1.4%. Inflows into spot bitcoin ETFs turned positive again this week, recording additions for four consecutive days. This week has also seen numerous big-name institutional players disclose sizable BTC ETF holdings. Morgan Stanley, for example, revealed a $269.9 million investment in Grayscale’s…

Decreasing Bitcoin Supply on Exchanges Indicating Possible Bullish Shift

Bitcoin’s supply on exchanges has significantly decreased, reaching new lows amid a bullish market trend, which analysts interpret as a shift towards long-term holding rather than short-term trading. A report by Bybit claimed that the diminishing supply could deplete within the next nine months, driven by factors such as the recent Bitcoin halving event and […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Most Important Bitcoin Indicator Nears Bullish Flip: $150,000 Soon?

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In a recent analysis, James Coutts, Chief Crypto Analyst at Realvision, signaled a potential bullish turn in Bitcoin’s near future, attributing the forecasted change to shifts in global liquidity measures, specifically the Global Money Supply (M2) index which is widely seen as most important price catalyst. Coutts detailed this anticipation in a thread on X, where he examined the relationship between major economic indicators and Bitcoin’s price cycles. Global Money Supply And Its Correlation With Bitcoin Coutts’ analysis begins with the M2 money aggregates, which consist of cash, checking deposits,…

Over 50,000 Traders Liquidated as Bitcoin Price Surges Past $66,000 Amid Bullish Run-Up

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On Wednesday, the price of bitcoin demonstrated strong growth, escalating by more than $4,200 from its daily low. This 7.1% increase against the U.S. dollar propelled bitcoin past the $66,000 threshold, reaching a peak of $66,461 per coin on Bitstamp. Consequently, the entire cryptocurrency market rose by 6.2%, resulting in the liquidation of 51,567 traders […] Original

ATH On The Horizon As Major Metrics Turn Bullish

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Crypto analyst Javon Marks has highlighted several metrics that have turned bullish for Ethereum (ETH). The analyst noted that one of these metrics suggests an all-time high (ATH) for the second-largest crypto token.  Bullish Metrics For Ethereum Marks remarked in an X (formerly Twitter) post that the bull flag-like price structure has formed on the Ethereum chart. He added that higher lows are forming in Ethereum’s price action, which is also a bullish signal as it suggests a strong resistance to downward trends. Meanwhile, the analyst claims lower lows in…

Ethereum Price Anticipates Upside Break To Shift Sentiment Towards Bullish

Ethereum price is eyeing an upside break above the $2,900 level. ETH must settle above $2,900 and $2,940 to continue higher in the near term. Ethereum is forming a base above the $2,860 support zone. The price is trading below $2,950 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $2,905 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent increase if there is a close above the $2,940 and $2,950 resistance levels. Ethereum Price…

Is Bitcoin Out Of The Woods? Analyst Bullish On 6-Figure Future

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Bitcoin (BTC) began the month with the deepest retrace of the cycle, falling to the $56,000 support level. The retrace raised alarms for some crypto investors and market watchers, who feared the bull run had ended. Since then, the largest cryptocurrency by market capitalization has recovered crucial levels, and analysts have identified bullish patterns on BTC’s chart, suggesting that it might finally be out of the woods. Related Reading Is Bitcoin Out Of Danger? As the May 1st retrace developed, crypto analyst Rekt Capital highlighted the similarities between Bitcoin’s 2016…

Blast From The Past? Analyst Identifies Pivotal Summer For VeChain With This Bullish Fractal

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Over the past few weeks, the price of VeChain (VET) has struggled to live up to the promise and vigor it showed at the start of the year. This has been the story with a significant portion of the cryptocurrency market, with several large-cap altcoins down by double-digits in the past month. However, the VeChain token has been a hot subject of discussion in the circle of cryptocurrency analysts and pundits. Popular crypto analyst Ali Martinez is amongst the latest to put forward future projections for the token. Can VeChain…

Bitcoin Down 20% From March But Glassnode Analysts Are Very Bullish: Here’s Why

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Bitcoin might have posted the deepest correction since the FTX crash in November 2022, dipping over 20% from its all-time high of around $74,000. However, Glassnode analysts, while sharing their preview on X, remain cautiously optimistic.  BTC corrections | Source: Glassnode via X Bitcoin Drops 20% From March High, But Glassnode Is Bullish Glassnode notes that the Bitcoin “macro uptrend still appears to be one of the more resilient in history” and that though corrections have been made, they are relatively shallow. With this position, the blockchain analytics platform confirms that the…