Bitcoin Miner Behavior Confirms Local Bottom Formation At $80,000 – Details
The Bitcoin (BTC) market continues to stabilize around $90,000 following a significant price recovery in the last week. Before these recent gains, the maiden cryptocurrency had undergone a heavy market correction, dropping about 36.10% from its all-time high of around $126,100. Amid the ongoing consolidation, the latest data on Bitcoin miner activity suggests the asset may have hit a local bottom with sights now set on a sustained uptrend. Notably, market analyst BorisD shares on the CryptoQuant QuickTake platform an insight that suggests Bitcoin likely formed a local bottom as it dipped....
Related News
The Bitcoin (BTC) market witnessed a slight recovery in the past 24 hours following a rather bearish trading week. After a flash crash to $91,000 on February 3, market analysts continue to speculate if Bitcoin found a local bottom and is finally gearing for an upswing. Interestingly, crypto expert Ali Martinez has shared some market […]
As Bitcoin (BTC) attempts to hold the $74,000-$75,000 area, an analyst suggested that the flagship crypto could see another 10% rally toward a key area, but warned that this level could be the ceiling. Related Reading: BNB Chain’s RWA Value Tops $3.5 Billion As Global Ecosystem Grows Bitcoin Double Bottom Breakout Targets Key Level In a Wednesday analysis, crypto analyst Rekt Capital shared an outlook for Bitcoin’s potential rally, as it holds the $73,000-$74,000 area as support for the first time in a month. The analyst highlighted that BTC’s price continues to move between its 2021 and....
Bitcoin could be setting the stage for a major reversal, according to crypto analyst BTCEarth. In a recent post on X, the analyst pointed to a key support zone that continues to hold firm, reinforcing the possibility of a bottom formation. Notably, the analyst said the price action has “respected the long-standing blue support line”, originally established around the “Trump rally breakout.” Current structure suggests a “possible bottom formation near this zone, supported by volume and historical price behavior.” With volume backing the move and....
Bitcoin is at a crucial point after several days of recovery and consolidation. On August 5, it experienced a sharp capitulation event, with the price dropping to a monthly low of $49,577. While some investors remain skeptical, believing Bitcoin hasn’t reached its bottom yet, key data from CryptoQuant suggests that the worst might be over. […]
Among the top performers from the past cycle, Shiba Inu has struggled to hold its own as its price has tumbled by more than 85%. As a result, the meme coin has been pushed out of the top 20 cryptocurrencies by market cap as the price continues to struggle. However, there could be a turn in the tide for the Shiba Inu price after a major price formation at a demand level. This historically bullish move could spell the start of another major rally for the meme coin. Shiba Inu Price Shows Bottom Signal After tumbling below $0.000013, the Shiba Inu price has now reached a critical level that....