Market Alert: Bitcoin’s $81K Support Zone Could Decide Its Next Big Move
As Bitcoin continues to slowly decline in price, the asset appears to be moving closer to a key psychological level. With uncertainty surrounding the continuation of Bitcoin’s current trend, speculation remains divided on whether the crypto asset is preparing for another upward breakout or entering a phase of correction. Recent on-chain data suggests that specific metrics, such as the realized price for short-term holders, are providing essential insights into the market’s behavior and potential future direction. Related Reading: Bitcoin’s Key SOPR Metric Holds Steady: Are....
Related News
Bitcoin’s price increased momentum early Monday, breaking through the 38,500 barrier zone, but mostly wobbled after Russian President Vladimir Putin’s nuclear deterrence alert announcement. The cryptocurrency attempted an upside run beyond $39,500 and $40,000 but corrected down on Sunday as Putin increased the alert level on his country’s nuclear deterrence in the face of new Western sanctions for assaulting Ukraine. Following a 0.27% decrease on Saturday, Bitcoin fell 3.65% to close the week at $37,704. Additionally, it was a gloomy session for the remaining major....
Bitcoin is very close to new all-time highs once again but the final hurdle may take some time to overcome. Bitcoin’s (BTC) price has so far failed to make new all-time highs above $60,000 this week. After the breakout above $58,000, negative news from India, as well as general macroeconomic weakness and rebounding U.S. dollar, appear to have halted the rally. This resulted in a pullback toward $53,000 on March 16. Such a move is normal as the bull market typically moves in waves. In other words, the market will find a new equilibrium of buyers and sellers, after which it will decide where....
The price of Bitcoin has broken through crucial resistance in weekend trading. Bitcoin (BTC) remains in the spotlight after MassMutual became the latest company to allocate $100 million of its portfolio into Bitcoin. This is adding to the impressive buy pressure at the moment, renewing hopes of Bitcoin breaking $20,000 in December. While a correction occurred in the past week, Bitcoin’s price bounced above the crucial level at $18,600 and is now targeting new all-time highs. However, since the breakout occurred during the weekend, one concern for the bulls is the relatively low volume of....
Ethereum price started a decent upward move from the $3,080 support zone. ETH is recovering and might aim for a test of the $3,500 resistance zone. Ethereum is showing positive signs from the $3,150 pivot zone. The price is trading above $3,250 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $3,280 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it stays above the $3,280 support zone. Ethereum Price Eyes Steady Increase To $3,500 Ethereum price formed a base above the $3,080 support....
Bitcoin bounced off $53,000 support but another leg down should not be ruled out in the near term. Bitcoin’s (BTC) price has seen massive gains in recent months as the price of Bitcoin accelerated from $11,000 to nearly $62,000. However, such impressive rallies also include relatively calm periods of price action. These periods are consolidative and are needed for the market to find a new floor. In bull markets, bullish continuation is likely after these periods of ranging before another leg up can happen. Currently, Bitcoin’s price seems to be in such a period just over a week after....