Hamidreza 🎩
@hapita
2474 Following
2142 Followers
🔸Bitcoin Still Struggling to Recover to $100K – What’s Next?
🔻 Bitcoin is still struggling to recover. After dropping to $92,000, as predicted in the analysis of the previous days, BTC has gained about 5% but is still in the risk zone. Let’s take a look at the key data and what to expect from the market.
🔻Current Market Indicators
🔹 Price: Bitcoin is currently trading at $98,456.90 with the 200-day moving average (MA 200) acting as resistance.
🔹 RSI: It has moved out of the oversold zone, but there is a risk of another decline if buying volume does not increase.
🔹 Support: The previous support at $92,000, formed with the help of the 50-day MA, may not be enough in the future.
🔹 Market Sentiment:
🔹 Fear and Greed Index: At 73, indicating greed, but still bearish overall.
🔹 MACD Histogram: Showing decreasing selling pressure, but the Average Directional Index (ADX) is showing a downtrend at 33.62.
🔹 Concerns🔹
🔹 Bearish Crossover: A 20-MA dip below the 50-MA and100-MA 0 reply
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🔸Crypto market corrects on Fed forecasts🔸
🔻 The crypto market saw a significant drop on Friday night, with majors such as Dogecoin (DOGE), Solana (SOL), Cardano (ADA), and Ethereum (ETH) experiencing significant declines. The drop came on the heels of the Federal Reserve’s updated economic forecasts, which indicated cautious optimism about inflation and interest rates in 2025.
🔹Market Key Points🔹
🔹 Bitcoin (BTC) fell 4.6% to $95,875, after hitting an all-time high of $108,268 earlier this week.
🔹 Dogecoin (DOGE) saw the steepest decline of 15% to $0.3066, 34% below its 2024 peak.
🔹 Solana (SOL) fell 13% to $182, while Cardano (ADA) and Ethereum (ETH) recorded declines of 12.3% and 10%, respectively.
🔹 The total crypto market cap fell 6.75% to $3.28 trillion.
🔹 Over $1.17 billion in long and short positions were liquidated in the past 24 hours, with Bitcoin accounting for $241 million (according to CoinGlass). 3 replies
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☄️Why did Bitcoin hit $106,000? The main factors behind this historic surge☄️
↗️Highlights📉
🔺Bitcoin hit a new all-time high of $106,352, and the crypto market is approaching a total value of $4 trillion.
🔺Bitcoin Dominance: Up 57.38%, indicating growing public acceptance and increasing institutional demand.
🔻Bitcoin Growth: Is $120,000 the next target?
🔹Bitcoin price is moving towards higher targets after breaking through the psychological $100,000 mark. Renowned analyst Peter Brandt predicts that Bitcoin will soon hit $120,000 as the cryptocurrency continues to take a larger share of the gold market.
🔹From a technical analysis perspective, Bitcoin has broken out of an ascending triangle pattern on the daily timeframe. With bulls in control, a short-term correction below $100,000 is likely to retest the bullish breakout. 0 reply
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📈 Analysis of the growth of Bitcoin micro wallets (Shrimp Wallets) 📈
⁉️ According to the following analysis, Bitcoin micro wallets (with assets less than 1 BTC) will grow by 9% in the coming weeks. This growth indicates the strong confidence of retail investors in the continuation of the upward trend of the Bitcoin price, even after crossing the $ 100,000 level.
🔹 Number of wallets:
There are currently 323,000 Bitcoin micro wallets, which is expected to increase to 351,000.
🔹 Investor Behavior Index:
This growth began when the Bitcoin price reached $ 61,000, and the number of these wallets has increased by 21.9%.
🔺 Long-term holders selling:
Despite the growth of small wallets, long-term holders are selling their assets. In the past month, 827,783 Bitcoins have been sold by this group, which could indicate market price changes. 0 reply
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