HODL

Bitcoin ETF

Bitcoin

<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> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <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>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<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

Mục lục

CoinPedia News

Các bài viết khác được xuất bản trên 21 thg 2, 2024

Portalcoin Goes Live On Binance Launchpool With Staking Opportunities For Users

The Starknet Airdrop Attack: Analyzing the $5.4 Million Sybil Exploit

Binance Futures Introduces MAVIAUSDT with 50x Leverage

Arthur Hayes Labels Cardano “Dog Shit”, Hoskinson Reacts Meekly

Brad Garlinghouse Invites XRP ETF: A New Era for Ripple

Denver’s Clock Tower to Become The Main Networking Hub Thanks to Supermoon & Cointelegraph

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!