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<p>The post <a href="https://coinpedia.org/price-analysis/bitcoin-price-targets-during-the-upcoming-halving/">Bitcoin Price Targets During the Upcoming Halving</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Bitcoin (BTC) price has consolidated between $51,300 and $52,800 since Thursday last week. The flagship coin has been flashing short-term reversal despite the heightened cash inflows to spot Bitcoin exchange-traded funds (ETFs) in the United States. Furthermore, the four-hour BTC/USD pair has gradually formed a triple top coupled with a bearish divergence on the Relative Strength Index (RSI).&nbsp;</p> 
<h2 class="wp-block-heading" id="h-spot-bitcoin-etf-boiling-pressure">Spot Bitcoin ETF Boiling Pressure</h2> 
<p>Notably, the Bitcoin inflows into accumulation addresses have reached an all-time high of 25,300, according to market data from CryptoQuant. Amid the heightened demand for Bitcoin products from institutional investors, VanEck’s HODL experienced a 14x jump in daily average trading volume to around $300 million. The WisdomTree Bitcoin Fund (BTCW) experienced a 12x gain in daily trading volume in the past 24 hours to around $154 million.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-btc-price-targets-amid-upcoming-halving-nbsp">BTC Price Targets Amid Upcoming Halving&nbsp;</h2> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> forming a massive Inverse H&amp;S pattern <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f440.png" alt="👀" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/CVKN5zCZZv">pic.twitter.com/CVKN5zCZZv</a></p>— Mags (@thescalpingpro) <a href="https://twitter.com/thescalpingpro/status/1760205212902637777?ref_src=twsrc%5Etfw">February 21, 2024</a>
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<p>The fourth Bitcoin halving is about 59 days from happening, lowering the current annual inflation from 1.69 percent to 0.84 percent. Bitcoin’s price is around 33 percent from its all-time high (ATH), and the bulls show more tenacity to push higher in the short term.&nbsp;</p> 
<p>According to several crypto analysts, Bitcoin price will likely push higher from current levels towards the ATH, $69,000, during the halving rally. However, experts have cautioned traders to watch for possible reversal amid heightened volatility.&nbsp;</p> 
<p>Crypto analyst Mags, @thescalpingpro on X platform, highlighted that Bitcoin price could form a macro inverse head and shoulder (H&amp;S) with a support level around $41,000. The analyst expects Bitcoin price to break out to a new ATH after the upcoming halving.</p>

Bitcoin Price Targets During the Upcoming Halving

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