Bitcoin Analysis

Bitcoin to top $110K by Jan, $20B TRX hints at ‘altseason’ — Finance Redefined

December 6, 2024 Coin Telegraph

Bitcoin to top 0K by Jan, B TRX hints at ‘altseason’ — Finance Redefined

Based on its correlation with the liquidity index, Bitcoin may reach a local peak of above $110,000 by January.

Bitcoin surpassed $100,000 for the first time in history on Dec. 5, boosting expectations of a $110,000 “local top” before United States President-elect Donald Trump takes office on Jan. 20.

Risk appetite is also returning among altcoin investors after Tron (TRX) surpassed a record $20 billion market capitalization, bolstering expectations of a forthcoming altcoin season, as some of the profits from Bitcoin (BTC) investors are expected to flow into smaller cryptocurrencies.

Bitcoin has entered the “parabolic phase” of the market cycle, as analysts point at a local top of above $110,000 before the end of January.

Former Binance.US CEO Brian Brooks takes board seat at MicroStrategy

Bitcoin on track for $85K, breaks record $82.4K ‘uncharted territory’

November 11, 2024 Coin Telegraph

Bitcoin

Increasingly more analysts expect Bitcoin to breach the $100,000 mark before the end of 2024 as investor appetite was bolstered by Trump’s presidential victory.

Bitcoin is trading in uncharted territory, potentially approaching the six-figure price tag for the first time in history following Donald Trump’s victory in the United States presidential election.

The Bitcoin (BTC) price broke above a new high of $82,410 at 10:19 am UTC on Nov. 11, Bitstamp data shows.

BTC/USD, 1-month chart. Source: TradingView

Former Binance.US CEO Brian Brooks takes board seat at MicroStrategy

Bitcoin whale accumulation hits 670K all-time high amid BTC’s v-shaped bounce

October 24, 2024 Coin Telegraph

Bitcoin Analysis

Despite this week’s Bitcoin price drop, whales continued to add to their balance and the current v-shaped BTC recovery could be a sign that new highs are coming.

Bitcoin’s (BTC) price has swiftly recovered above $67,000, moving by 3% after dropping to a low of $65,200. Despite the recent drawdown, the metric tracking long-term Bitcoin accumulation sentiment did not change as BTC whales’ holding reached new highs.

BaroVirtual, a verified Bitcoin researcher on CryptoQuant, highlighted that the current whale holding reached a new all-time high (ATH) at around 670,000 BTC. The chart exhibits a growing trend in 2024, with whales initially eclipsing their previous ATH holding level from 2020 in July.

Bitcoin whales holdings chart. Source: CryptoQuant

Former Binance.US CEO Brian Brooks takes board seat at MicroStrategy

Bitcoin whale accumulation mirrors 2020 trend where BTC rallied 550%

October 18, 2024 Coin Telegraph

Bitcoin

New and old Bitcoin whale wallets have been gobbling up BTC, mirroring a 2020 trend that saw the asset rally by 550%.

With Bitcoin (BTC) price making a run at the $70,000 level, whale wallets are accumulating BTC at a speed which closely resembles July 2020 to January 2021 when Bitcoin rallied by 550%.

According to Woominkyu, a verified author on CryptoQuant, this historical trend has investors excited about a potential BTC breakout. As illustrated in the chart below, the Bitcoin whale ratio on spot exchanges is currently similar to the ratio observed around July 2020 after the COVID-induced crash in March.

Bitcoin exchange whale ratio chart. Source: CryptoQuant

Former Binance.US CEO Brian Brooks takes board seat at MicroStrategy

4th time’s the charm? Bitcoin tags $68K in attempt to break 217-day downtrend

October 16, 2024 Coin Telegraph

Bitcoin

Multiple onchain metrics showed a surge in activity as Bitcoin price rallied to $68,000, possibly signaling that the price momentum is sustainable.

Bitcoin (BTC) price registered another monthly high at $68,400 on Oct. 16, forming a new higher-high pattern( HH3) in the markets. BTC swiftly registered a new weekly high after a sharp hourly correction of 3.41% on Oct. 15. Alongside price, BTC’s on-chain data is also demonstrating a positive improvement, with active addresses indicating a positive shift in market demand and user activity.

Bitcoin 1-day chart. Source: Trading View

As prices oscillate near the $70,000 level, analysts are addressing a key price range that may lead to a short-term correction or disrupt a six-month downtrend.

Former Binance.US CEO Brian Brooks takes board seat at MicroStrategy

Bitcoin follows ‘perfect script’ charting $150K+ all-time high this cycle — Analyst

October 8, 2024 Coin Telegraph

Bitcoin follows ‘perfect script’ charting 0K+ all-time high this cycle — Analyst

arket anaysis

A veteran trader says Bitcoin is following a “perfect script” that terminates with a potential $150,000 cycle high.

Bitcoin (BTC) price is consolidating below its 2021 all-time high of $69,000, and independent trader Bob Loukas believes that the price is entering an “explosive” period of its four-year cycle.

“Bitcoin closes the 2nd year of its 4-year cycle next month, entering the 3rd and historically explosive year of the Cycle,” Loukas noted in an Oct. 8 post on X.

Loukas uses a four-year cycle to identify tops and bottoms in the Bitcoin market. The historical similarities could help investors identify when the market peaks in the current cycle.

Former Binance.US CEO Brian Brooks takes board seat at MicroStrategy

Bitcoin Coinbase premium turns negative as BTC price stalls under $63K

October 8, 2024 Coin Telegraph

Bitcoin

Bitcoin price stagnates below $63,000 as on-chain data highlights an uptick in selling activity.

Bitcoin (BTC) dropped briefly below $62,000 after reaching an Oct. 7 high of $64,448. Although the weekly open had restorted traders’ hopes for a bullish October, today’s pullback to $62,000 signals that bulls are not in control just yet.

Bitcoin 1-hour chart. Source: Trading View

Data from CryptoQuant highlights that the Coinbase premium has remained largely negative since the beginning of October, illustrating a lack of demand from Coinbase traders.

Former Binance.US CEO Brian Brooks takes board seat at MicroStrategy

Bitcoin drops to $63K, fails to rebound after Fed hints at future interest rate cuts

September 30, 2024 Coin Telegraph

Bitcoin drops to K, fails to rebound after Fed hints at future interest rate cuts

Bitcoin Analysis

Bitcoin surprised traders by opening the week in the red, and the Federal Reserve’s announcement about future rate cuts failed to reverse the downtrend.

Bitcoin opened the week with a sell-off to $63,000, and the intra-day trend was not impacted by United States Federal Reserve Chair Jerome Powell’s statement that additional rate cuts were part of the Fed’s plan. Despite the correction, Bitcoin price remains on track to close Q3 with positive returns.

On Sept. 30, Bitcoin (BTC) fell from a high of $65,634, dropping approximately 4% to an intraday low of $63,049, according to data from Cointelegraph Markets Pro and TradingView. At the time of publication, Bitcoin price was exchanging hands at $63,344, down 3.6% over the last 24 hours.

BTC/USD hourly chart. Source: TradingView

Former Binance.US CEO Brian Brooks takes board seat at MicroStrategy

Bitcoin analysts say BTC is in a ‘good position’ above the 200-MA and $65K

September 26, 2024 Coin Telegraph

Bitcoin

Bitcoin’s strong rally puts it in a “good position” where the 200-MA and $65,000 level could potentially serve as a new level of support.

Bitcoin (BTC) price rallied to $65,851 on Sept. 26 as markets responded to global macroeconomic events, placing BTC in a ‘good position,’ according to traders.

BTC/USD daily chart. Source: TradingView

The strong reversal in Bitcoin’s price direction has many traders wondering what to expect next from BTC going forward.

Former Binance.US CEO Brian Brooks takes board seat at MicroStrategy

Bitcoin rally above short-term holder metric has traders calling for new BTC price highs

September 19, 2024 Coin Telegraph

Bitcoin

Bitcoin’s recent rally put its price above a key bull market metric. Are new highs inbound?

Bitcoin (BTC) rallied above $62,000 on Sept. 19, rising above its short-term holder (STH) realized price and showing potential for further gains, according to onchain data.

The STH realized price is a metric that calculates the average price at which short-term investors—those who have held their coins for less than 155 days–have purchased their Bitcoin. It acts as support in uptrends because these holders are more likely to buy if the price rises above their entry point.

CryptoQuant analyst Avocado_onchain explains that STH realized price “has consistently acted as a critical support and resistance level” for Bitcoin.

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