Bitcoin analysts explain why BTC could avoid a drop under $90K

January 10, 2025 Coin Telegraph

Bitcoin analysts explain why BTC could avoid a drop under K

Bitcoin whales, an increase in speculative appetite and other macroeconomic factors are playing a role in keeping BTC price above $90,000.

Bitcoin’s (BTC) price dropped to a new range low at $91,055 on Jan. 9, its lowest value since Dec. 1. The next psychological support range remains under $90,000, and some market analysts continue to forecast a decline below this level.

Bitcoin 1-day chart. Source: Cointelegraph/TradingView

However, the following four reasons suggest that BTC may avoid a drop below $90,000.

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Is the Bitcoin bull run ending? Analyst says metrics don’t point to a ‘market peak’ yet

January 9, 2025 Coin Telegraph

Bitcoin Price

Bitcoin's recent price woes near $92,000 are short-term, and one analyst says traders should ignore the market noise.

Bitcoin’s (BTC) daily chart is on a three-day bearish streak, as the largest crypto asset dropped closer to $92,000 on Jan. 9. General investor sentiment was further deterred on Jan. 9 after the US Department of Justice (DOJ) greenlit the sale of 69,000 BTC worth over $6.5 billion, and spot Bitcoin ETFs witnessed their second-highest net outflow at $569.1 million.

With queries like, “Is Bitcoin bull market over?” starting to surface on X, one analyst said that bullish optimism toward BTC should remain intact.

Bitcoin’s recent downturn is primarily influenced by uncertainties around Federal Reserve rate cuts and investors adopting a cautious approach before President-elect Trump’s inauguration. Onchain data clearly highlights this sentiment, as the 30-day moving average of the Taker Buy/Sell ratio indicated sell-side dominance for the first time since March 2024 (when BTC peaked at around $74,000).

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Bitcoin’s brief rally to $100K triggers record 5.4K BTC monthly outflow

January 7, 2025 Coin Telegraph

Bitcoin’s brief rally to 0K triggers record 5.4K BTC monthly outflow

Bitcoin Price

Bitcoin price sold-off today, but heavy demand below $98,000 is prepping the market for the next leg higher.

Bitcoin (BTC) closed a daily candle at $102,180 on Jan. 6 after another round of positive ETF inflows worth $978.6 million. However, prices dropped sharply on Jan. 7 as traders expected BTC to retest the $100,000 level.

Despite these short-term BTC drawdowns, significant investor activity was observed on major exchanges, indicating a bullish urgency.

Burak Kesmeci, a verified analyst at CryptoQuant, highlighted that the 14-day simple moving average (SMA14), which tracks Binance's netflow, has turned negative. As illustrated in the chart, each time the SMA14 has turned negative, BTC has exhibited a bullish shift in the charts.

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Bitcoin correction ‘almost done’ as realized losses rise above weekly average

December 20, 2024 Coin Telegraph

Bitcoin ETFs

Bitcoin traders’ realized losses have likely peaked, possibly marking the bottom of the current BTC price sell-off.

Bitcoin’s (BTC) daily chart has produced three consecutive red candles for the first time since the first week of November, which coincidentally was the lead-up period to Donald Trump’s US election victory.

Another similarity between the last time three or more red candles were observed on the daily chart was that Bitcoin retested the 50-day EMA level.

Bitcoin 1-day chart. Source: Cointelegraph/TradingView

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Van Eck reissues $180K Bitcoin price target for current market cycle

November 23, 2024 Coin Telegraph

Bitcoin

Van Eck says BTC can reach a price of $180,000 this cycle but warned that elevated funding rates could be showing early signs of "overheating."

Global investment manager Van Eck has reissued its $180,000 price target for Bitcoin at the peak of the current cycle.

In its latest Bitcoin report on Nov. 21, Van Eck digital asset analysts Nathan Frankovitz and Matthe Sigel said the next phase of the crypto bull market is only “just beginning.”

They predicted that an increasingly friendly regulatory environment in the United States and growing institutional interest could catapult Bitcoin (BTC) to a price of $180,000 within the next 18 months.

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Why Ethereum traders are closely watching ETH/BTC charts — Spoiler alert, it’s bullish

November 8, 2024 Coin Telegraph

Bitcoin

After lagging Bitcoin for most of 2024, Ethereum appears to be in the early stages of a bullish trend reversal. Here’s why traders are closely watching the ETH/BTC pair.

Ether (ETH) is currently exhibiting its most significant weekly gains since May 2024. While BTC’s momentum has stalled over the past 24 hours, ETH's price reached a quarterly high of $2,956, and the renewed price action triggered a 6% uptick for the ETH/BTC chart.

With Ethereum briefly leading Bitcoin (BTC) for the first time in months, the altcoin-BTC pair has caught the market’s attention for a potential trend reversal.

A pivotal daily breakout on the Ether daily chart is one key reason for the revived interest in the ETH/BTC trend.

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Bitcoin gained 1,900% in Trump’s first term: Will BTC price hit $1M this time?

November 7, 2024 Coin Telegraph

Bitcoin gained 1,900% in Trump’s first term: Will BTC price hit M this time?

bitcoin price prediction

Bitcoin could top $1 million per coin during Trump’s second term, according to historical price data.

Bitcoin (BTC) soared by over 1,900% during Donald Trump’s first term as United States president between November 2016 and November 2020. This occurred despite his critical stance on the cryptocurrency at the time, highlighted by his well-known 2019 tweet labeling BTC as “highly volatile” and claiming its value was “based on thin air.”

BTC/USD daily price chart. Source: TradingView

However, Trump’s second term as the US president looks poised to be more favorable toward the cryptocurrency industry, given his pledge to make the US a “Bitcoin superpower” and implement deregulation to foster the crypto industry.

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Bitcoin price rally to $110K ‘incoming’ after positive Coinbase premium, Trump victory — Analyst

November 6, 2024 Coin Telegraph

Bitcoin Price

A boost in Bitcoin's spot volumes and a classic chart pattern hint that $110,000 could be the next stop for BTC price.

Bitcoin (BTC) reached an all-time high of $75,358 after rallying 7.23% in a single four-hour candle. The bullish momentum accompanied the lead-up to Donald Trump’s US presidential election victory on Nov. 5.

With the US elections concluding with a “pro-crypto” president on deck, one crypto analyst re-iterated a Bitcoin price target above $100,000 in the coming weeks.

A few hours after the US election results, Titan of Crypto, an independent trader, highlighted a long-term cup-and-handle pattern for Bitcoin, which is currently undergoing a successful bullish breakout.

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Bitcoin to move 10% ‘either direction’ depending on US election: Trader

November 4, 2024 Coin Telegraph

Bitcoin

Crypto investors should prepare for even more volatility around the US election, with “at least” a 10% move foreseen for Bitcoin.

The price of Bitcoin could swing at least 10% depending on which United States presidential candidate wins the election on Nov. 5, according to a trader, as Bitcoin volatility recently jumped to its highest point in three months.

In a Nov. 4 post, pseudonymous trader Daan Crypto Trades told his 389,000 X followers that Bitcoin’s (BTC) weekly close didn’t look “the cleanest” but this wouldn’t matter too much with the election looming.

He said there was a good possibility Bitcoin will see “at least a 10% move in either direction depending on who wins the election.

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Standard Chartered predicts Bitcoin surge to $125K with Trump win

October 25, 2024 Coin Telegraph

Standard Chartered predicts Bitcoin surge to 5K with Trump win

$125

A second Trump presidency would be good for Bitcoin, a Standard Chartered Bank analyst says. A Harris win would be just OK for crypto.

Bitcoin could be worth $125,000 by the end of the year if members of the Republican Party dominate the United States Congress after the Nov. 5 elections, Standard Chartered Bank analyst Geoff Kendrick has predicted.

As speculation about the US elections and Bitcoin (BTC) prices approaches a frenzy, Kendrick shows himself to be bullish on the Republicans.

Geoff Kendrick’s BTC price analysis. Source: Standard Chartered Bank

bitcoin price prediction

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