💥💥💥 Parabolic Rally In The Making? Bitcoin Regains $70,000 As Traders’ Paper Profits Collapse To 3%

#Bitcoin's Consolidation and Bullish Outlook

- Bitcoin (BTC) has recently consolidated between $67,000 and $70,000 after a brief correction in early May. This period coincides with renewed #ETF✅ inflows and reduced selling pressure.

Reduced Selling Pressure and Market Sentiment

- Julio Moreno of CryptoQuant notes that Bitcoin's current price level sees significantly lower selling pressure compared to previous peaks, indicating exhaustion of heavy selling. Santiment data shows Bitcoin's market cap surpassing $70 billion independently of the stock market, signaling positive market sentiment.

Pre-Breakout Consolidation Phase

- Rekt Capital observes Bitcoin's recent weekly candle closing below range high resistance, suggesting further consolidation within the $60,000 to $70,000 range. This aligns with the belief in two remaining phases of the bull cycle: re-accumulation and a parabolic rally.

Anticipated Bullish Momentum

- Historically, Bitcoin consolidates around all-time highs before significant bull runs. With the current consolidation at elevated levels, expectations are for a post-Halving rally to propel Bitcoin even higher than its mid-March peak of $73,700.

Current Market Performance

- Bitcoin has gained 2% in the past 24 hours and 10% in the past month, currently trading at $70,200. This positions Bitcoin at a critical stage in its bull cycle, with potential for a transition from consolidation to a parabolic surge.

Source - newsbtc.com

#CryptoTrends2024 #BinanceSquareBTC #cryptocurrencry

💥💥💥 #Bitcoin’s Network Strengthens: Mining Difficulty And Hash Rate Spike Amid $ETH ETF Buzz

Bitcoin's mining difficulty has risen by nearly 2%, reaching over 84.4 trillion, as the network’s hash rate surged past 600 EH/s. This comes amid speculation about potential approval of spot Ethereum ETFs in the U.S. Mining difficulty adjusts every 2,016 blocks (approximately every two weeks) to maintain a 10-minute interval between blocks, ensuring network stability and security.

Recent Shifts in Bitcoin Mining

- This adjustment follows a nearly 6% drop in difficulty earlier this month, the largest since December 2022. The hash rate's rebound from 580-590 EH/s to over 600 EH/s corresponds with a broader market rally driven by regulatory expectations for Ethereum products.

- Bitcoin’s mining difficulty mechanism self-regulates new block production, increasing difficulty as more miners join and decreasing it when fewer participate, ensuring a steady introduction of new BTC. The recent difficulty increase coincides with a slight recovery in Bitcoin’s hash price, which had reached an all-time low in April. The hash price, measuring expected earnings per unit of hash rate daily, has rebounded from less than $50 per PH/s per day to around $54.6, providing minor relief to miners.

Bitcoin’s Price Movements and Outlook

- Bitcoin’s price has dipped 2% in the last 24 hours but remains up 3.9% for the week, trading at $68,132. The market is watching for the US SEC’s decision on spot Ethereum ETFs, which could impact the entire crypto market. Analyst BitQuant predicts Bitcoin could reach $95,000, with a rise to $80,000 expected in May, followed by a sharp decline in June, while maintaining the overall timeline for this peak remains unchanged.

Source - newsbtc.com

#CryptoTrends2024 #cryptocurrency #BinanceSquareBTC

🚀🚀🚀 #bitcoin ’s recent price move is the ‘real deal market pump’ to $90K

Bitcoin surged 14% over the past week, leading traders to anticipate a significant market rally, with no major correction expected until it reaches $90,000. Crypto trader "Roman" told Cointelegraph that the recent 21% correction from Bitcoin's all-time high of $73,738 to $58,000 on May 2 was necessary for future price increases. He pointed out a "bullish reversal pattern" in Bitcoin's chart, suggesting that Bitcoin won't consolidate again until it exceeds its March 12 high by at least 20%.

Roman predicts Bitcoin will reach $90,000 to $100,000 before another correction. The bullish reversal was signaled by a spinning top candlestick on May 20, closing at $66,278. Currently, Bitcoin is trading at $70,140.

The recent spike coincides with speculation that the U.S. SEC might approve spot Ether ETFs, boosting market sentiment.

This is reflected in the Crypto Fear and Greed Index, which
jumped to an "Extreme Greed" score of 76 on May 21. Reports indicate the SEC urged Ether ETF applicants to expedite their filings on May 20, contributing to the positive sentiment.
Ledn's chief investment officer, John Glover, noted it was surprising to see Bitcoin's price rise alongside Ether due to the SEC news, as Ether ETF approval shouldn't directly impact Bitcoin demand. Glover expects some market volatility and profit-taking to push Bitcoin prices down from the $71,000 level in the coming days.

Despite the positive outlook, traders are preparing for a slight dip before Bitcoin continues its upward trend. CoinGlass liquidation data suggests a 1% increase to $71,000 could trigger $766.73 million in short position liquidations, while a 1% decrease to $69,400 could result in $101.54 million in long position liquidations.

Source - cointelegraph.com

#CryptoNews🔒📰🚫 #cryptocurrency #BinanceSquareBTC

🔥🔥🔥 #Bitcoin’s Wild Ride: Analyst Reveals Shocking Shifts in Market Sentiments

Bitcoin Market Fluctuations and Future Outlook

- Bitcoin remains a focal point in the digital asset market, with recent developments in its futures market attracting significant attention from analysts and investors. #CryptoQuant analyst Axel Adler Jr. noted inconsistencies in market movements over the past few days, highlighting a shift in the Funding Rate and Taker orders.

Key Market Indicators

Funding Rate and Taker Orders

- Adler observed a noticeable change in Bitcoin's Funding Rate, which turned negative, while Taker orders became bullish. This reversal from the previous day’s behavior signals volatility and changing trader sentiments. A negative funding rate usually suggests downward price pressure, with short positions paying long positions. However, the bullish Taker orders indicate conflicting sentiments, contributing to increased market volatility.

Market Synchronization and Trends

- On May 16th, traders displayed a synchronized approach, leading to predictable market movements. However, recent discrepancies suggest uncertainty about Bitcoin's future direction. The futures market often reflects the sentiments of institutional and sophisticated investors. When these traders align in one direction, it typically results in clearer trends in Bitcoin’s spot market price. The current lack of synchronization suggests the market is at a crossroads, with varying trader expectations causing potential sharp price movements.

Future Outlook

- Current market dynamics highlight the complexity of Bitcoin trading. Analysts like Adler help interpret these signals, guiding investors. With the market in flux, the coming days could be pivotal in determining Bitcoin's behavior over the next few weeks, particularly if futures traders exhibit consistent patterns.

Source - blockchainreporter.net

#CryptoTrends2024 #BinanceSquareBTC $BTC

🔥🔥🔥 #tether mints another $1B — Last time, it helped Bitcoin climb to $73K

Bitcoin has transformed its former resistance into support as Tether’s USDT market cap grows rapidly in 2024.

Tether (USDT), the world’s largest #stablecoin , has minted another $1 billion, pushing its market capitalization above $110 billion. This surge could potentially drive Bitcoin's ($BTC ) price to new all-time highs.

The Tether treasury minted $1 billion worth of USDT in the last 24 hours, raising its yearly total to $31 billion. This increase in USDT was a major factor in Bitcoin’s climb from $27,000 to $73,000, as reported by Lookonchain on May 17.

Tether's impact on Bitcoin extends further. The company plans to invest 15% of its net profits into Bitcoin to diversify its asset backing. On March 31, Tether acquired 8,888 BTC worth $618 million, becoming the seventh-largest Bitcoin holder, according to Bitinfocharts. Currently, Tether holds over 78,317 BTC, valued at over $5.18 billion, a year after announcing its diversification plan.

Bitcoin's price movement is still influenced by institutional inflows into spot Bitcoin exchange-traded funds (#ETFs ). U.S. Bitcoin ETFs have seen two consecutive weeks of net positive inflows, accumulating over $200 million, as per Dune.

Institutional investments through ETFs have significantly contributed to Bitcoin’s recent rally to new highs. By February 15, Bitcoin ETFs accounted for about 75% of new investments in Bitcoin as it surpassed the $50,000 mark.

On May 16, Bitcoin confirmed a breakout on the daily chart, establishing $65,000 as strong support, according to TradingView. Crypto analyst Rekt Capital also noted that Bitcoin has turned its previous resistance into support on the monthly chart.

Bitcoin may temporarily drop below $63,500 before rising to $70,000, according to ScorehoodAI. This correction could liquidate over $1.76 billion in leveraged long positions, with a drop below $63,000 potentially increasing liquidations to $1.87 billion, based on Coinglass data.

Source - cointelegraph.com

#BinanceSquareBTC

🚀🚀🚀 #BitcoinPrice2024 Rally to Breach $50,000 This Month: Matrixport 🚀🚀🚀

Matrixport has released a report predicting a Bitcoin price surge to $50,000 this month, citing several factors contributing to this bullish outlook. The anticipated approval of a Bitcoin Spot ETF by the US SEC, institutional buying momentum, and historical trends are among the key factors influencing this positive forecast.

According to Matrixport's analysis, Bitcoin is poised for a strong breakout at the beginning of the new year after a typical mid-to-end December consolidation. The report suggests that institutional investors, keen on capitalizing on potential market rallies, will drive a swift buying flow when trading resumes in 2024.

The speculation around the potential approval of a Bitcoin Spot ETF by the US SEC, with Matrixport hinting at a possible announcement this week, is particularly noteworthy. Matrixport argues against a 'sell-the-news' event, asserting that approval would legitimize Bitcoin as a valuable asset class for institutional portfolios.

The report emphasizes the scarcity of available Bitcoin on exchanges, with many holders opting for cold-storage solutions, posing a potential risk on the upside. Matrixport estimates that up to $10 billion in fiat may struggle to find sufficient Bitcoin on exchanges for #ETF exposure, potentially leading to a supply shortage.

Additionally, Matrixport takes into account the upcoming Bitcoin halving cycle expected in April 2024 and historical trends indicating robust performance during election years. As of now, Bitcoin has surged past the $45,000 mark, reaching levels not seen since April 2022, currently hovering around $45,200 with a 7% rise in the last 24 hours.

Source - Jai Pratap @jai-pratap
Website - Cryptonews

#CryptoNews🔒📰🚫 $BTC #Cryptocurrrency #BinanceSquareBTC

👉👉👉 Navigating the Complex World of #NFTs and Intellectual Property Rights

A comprehensive examination jointly conducted by the U.S. Copyright Office and the U.S. Patent and Trademark Office (USPTO) has concluded that the existing framework of intellectual property (IP) laws adequately addresses the complexities arising from the emergence of Non-Fungible Tokens (NFTs). This assessment comes amidst growing concerns surrounding piracy and IP violations within NFT platforms.

- Addressing IP Challenges in the NFT Landscape

Released on March 12, the collaborative study thoroughly analyzed the implications of IP law and policy in relation to NFTs, a digital innovation reshaping notions of ownership and authenticity in the online sphere. While NFT technology offers novel means of proving ownership, the report highlighted significant hurdles, including widespread trademark infringements and the intricate task of enforcing rights in a decentralized and often anonymous digital environment.

- The Verdict: Prioritizing Education Over Legislative Amendments

Despite the identified challenges, the U.S. agencies determined that revising existing IP laws is unwarranted and imprudent at present. The report clarifies that traditional copyright laws are applicable to NFTs, particularly in cases involving copyrighted materials without proper authorization. Furthermore, it stressed the effectiveness of current enforcement mechanisms in addressing NFT-related infringements.

USPTO Director Kathi Vidal highlighted NFTs' dual nature: offering creators new IP opportunities but also posing security risks. The report suggests addressing consumer confusion through #education and enhanced protections, rather than IP law changes. Future perspectives on NFTs and #Blockchain in US patent and trademark registrations remain exploratory, without specific proposals. The report marks a milestone amid NFT market fluctuations, with increased Ether prices but declining sales volumes and floor prices.

Source - coinnounce.com 

#CryptoNews🔒📰🚫 #BinanceSquareBTC

🌟 Bitcoin's Time Capsule Unlocked: $230M BTC Stirs After 6-Year Hibernation!

Hey, it's Linkan here with a time-traveling twist in the crypto saga! Just when you thought the blockchain waters were calm, a historic move shakes the scene. We're talking a whopping $230 million in Bitcoin, breaking its slumber since the days of yore. Let's zoom in on this monumental move that's got the crypto world buzzing!

The Crypto Awakening:
Cast your minds back to 2017, a year of heady crypto highs. Now, fast forward to today, and bam! Three Bitcoin wallets, dormant since that rollercoaster year, have just made a move that's echoing across the digital landscape. On November 3, 2023, these wallets unleashed 6,500 BTC into the blockchain wilds, ending their six-year silence in a spectacular fashion.

A Nod to the Satoshi Era:
These aren't just any old coins; they're relics from July 2011, a time when Bitcoin was a mere whisper in the vast internet expanse. This blast from the past carries the mystique of the Satoshi era, a nod to the enigmatic creator whose vision sparked a revolution.

Surfing the Market Waves:
Bitcoin's been on a tear, and this historic transfer adds an intriguing layer to the narrative. With the market's eyes wide open, we're left to wonder: What ripples will this ancient BTC make? Is this the start of a new chapter, or a fleeting glimpse into the past?

I'm all ears and eager to hear your takes: Why now? What's the story behind this ancient Bitcoin awakening?

Hashtags:

Disclaimer:
Dive into this tale for the thrill, not the counsel. This isn't financial advice, just a journey through crypto history.

If this crypto chronicle has your mind racing, hit like, share your theories, and let's keep our community at the cutting edge of crypto curiosity! 🧐📈💬

🔥🔥🔥 #BlackRock ’s IBIT continues to lead #BitcoinETF💰💰💰 volume among 'Newborn Nine'

On the third day of trading, BlackRock's Bitcoin ETF, IBIT, continues to lead in total volume, sparking speculation about its potential to become the largest holder of Bitcoin (BTC). The competitive landscape among the recently launched Bitcoin spot ETFs, known as the "Newborn Nine," witnessed a total volume around the $500 million mark on January 16, aligning with industry expectations.

BlackRock's IBIT is gaining momentum, and ETF analyst Eric Balchunas from Bloomberg suggests that it's a matter of "when," not "if," BlackRock will surpass tech giant MicroStrategy in Bitcoin holdings. This insight has stirred discussions among investors who are closely monitoring BlackRock's assertive foray into the #cryptocurrency space.

The BlackRock iShares ETF, with impressive inflow and volume figures, is positioned to challenge the Grayscale Bitcoin Trust (GBTC), currently known as the 'Liquidity King' due to its longstanding market presence and a substantial number of holders.

IBIT recorded significant flows in the first two days, amassing approximately $497.7 million, leading BlackRock to accumulate around 11,500 BTC for its fund. Fidelity Investments' FBTC closely follows IBIT with notable total flows of $422.3 million over the same period, maintaining a trading volume of $170.1 million on day three.

New Bitcoin ETFs, with over $3.1 billion in volume, see strong inflows. GBTC and BITO, dominating at $4.65 billion and $3.26 billion (60% of total volume), face outflows. 'Newborn Nine' success indicates a maturing market for crypto ETFs, with consistent demand post-launch. Focus on BlackRock's IBIT in the race against GBTC shapes the future of digital asset investing. Bitcoin, with $848.94 billion market cap, 1.73% 24-hour increase, and $24.19 billion 24-hour volume, maintains top position.

Source - cryptoslate.com

#CryptoNews #BinanceSquareBTC

👉👉👉 These Institutions Have Bought 3.3% of #Bitcoin’s Supply in 3 Weeks

The recent approval of Bitcoin exchange-traded funds (#ETFs ) has triggered discussions about the potential long-term impacts on Bitcoin's supply and value. While the immediate effect on its price may not be significant, the approval has led to a reversal, with institutional players behind Bitcoin ETFs accumulating the digital asset.

Major financial institutions, including BlackRock, the world's largest asset manager, have entered the space, raising expectations that the growing involvement of retail investors in Bitcoin ETFs could contribute to future price increases.

Bitcoin ETF Applicants Amass Bitcoin Supply
Reports indicate that the 11 recently approved Bitcoin ETF applicants collectively hold approximately 3.3% of the current circulating Bitcoin supply.

Among the approved applicants are well-known entities such as Grayscale, BlackRock, Fidelity, Franklin Templeton, Invesco, VanEck, WisdomTree, Hashdex, Bitwise, Valkyrie, and BZX.
As of the latest data from Ycharts, the total circulating supply of Bitcoin stands at 19.61 million.

Within the #cryptocurrency community, there is ongoing speculation about the potential impact of the upcoming Bitcoin halving in April on both the price & supply of Bitcoin. The halving, occurring every four years, involves a reduction in mining rewards, slowing the creation of new coins & decreasing the overall available supply.

At the time of reporting, the price of Bitcoin is $43,159.

Bitcoin ETFs Face Contrary Market Reaction
Despite widespread expectations of an immediate price surge following the SEC's approval of 11 spot Bitcoin ETFs on January 10, Bitcoin's value has experienced a subsequent decline of around 10%.

Gary Gensler, SEC Chair, expressed concerns about approving spot Bitcoin ETFs, suggesting they contradict Bitcoin's core principles by introducing centralization. He warned that this move might fuel speculation and increase volatility in an already unpredictable market.

Source - beincrypto.com

#CryptoNews #BinanceSquareBTC $BTC

👉👉👉 #BitcoinETF💰💰💰 Day 8 Update: Market Rebound Signals Bottom As Grayscale Selling Slows Down

Following the SEC's approval of Bitcoin ETFs on January 11 and subsequent trading initiation, the ETF market has consistently shown robust volumes. Amid a market recovery from a 20% drop, signs of a slowdown in Grayscale's selling activities offer hope for Bitcoin bulls. Market analysts note a positive shift in Grayscale's strategy, potentially stabilizing Bitcoin prices and restoring investor confidence.

Major asset management players, such as BlackRock and Fidelity, demonstrate resilience and commitment to Bitcoin. #BlackRock holds 44,000 BTC in AUM, showcasing increasing exposure, while Fidelity, a key Bitcoin ETF issuer, maintains confidence with 40,000 BTC AUM.

Despite a sell-off driven by FTX in its initial 8 days, expectations for reduced selling pressure from FTX and Grayscale on day 9 could contribute to a more stable market environment. Bitcoin ETFs emerge as substantial holders, absorbing 101,600 BTC from Grayscale and adding 21,100 BTC in 8 days, indicating growing institutional interest.

Bitcoin ETF managers alone acquire 15 times the daily Bitcoin supply, surpassing 13,444 BTC against the 900 BTC daily creation rate. This underscores strong demand from institutional investors and the potential impact of ETFs on the Bitcoin market.
Bloomberg ETF expert Erich Balchunas notes a decrease in GBTC volume, signaling potential exhaustion in selling. However, a recent $515 million withdrawal from #gbtc resulted in a total outflow of $3.96 billion since its ETF conversion. On a positive note, there was a net inflow of $409 million on the ninth day, indicating renewed investor interest.

Source - newsbtc.com

#CryptoNews #BinanceSquareBTC

🔥🔥🔥 #Bitcoin‬ Price Crashes After New #ATH , Are Dips Supported At $60K?

Bitcoin surged to a remarkable milestone, surpassing $69,000 and establishing a new all-time high. However, the euphoria was short-lived as the price swiftly tumbled, now hovering around $63,000 and showing signs of potential decline towards the $60,000 support level.

After reaching $69,218, Bitcoin encountered strong selling pressure, resulting in a sharp 10% decline towards the $60,000 mark. During this downturn, a key #bullish trend line with support at $66,000 was breached on the hourly chart of the BTC/USD pair.

Despite the downturn, Bitcoin is attempting to stage a recovery, with the price edging above the $62,000 resistance level. However, it faces resistance near $64,000 and the 50% Fibonacci retracement level of the recent downward move.

Bitcoin is currently trading below $64,000 and the 100 hourly Simple Moving Average, with immediate resistance around the $64,000 level. Further resistance lies near $64,200, followed by the $65,500 zone.

A clear break above the $65,500 resistance or the 61.8% Fibonacci retracement level could pave the way for a potential rise towards $67,000, with further gains possibly targeting the $70,000 level.

However, if Bitcoin fails to overcome the $64,200 resistance zone, it may initiate another downward correction. Initial support is anticipated around $62,000, followed by the critical $61,500 level. A close below $61,500 could trigger a pullback towards the $60,000 support zone, with further downside potential towards $58,500.

Technical indicators are signaling mixed signals, with the hourly MACD gaining pace in the bearish zone, while the hourly RSI for BTC/USD is below the 50 level.

In summary, Bitcoin's recent price action reflects a volatile market sentiment, with critical support and resistance levels shaping its short-term trajectory. Traders and investors are closely monitoring price movements for potential trading opportunities amidst ongoing market fluctuations.

Source - newsbtc.com

#CryptoNews🔒📰🚫 #BinanceSquareBTC $BTC

$SHIB #Shiba.Inu is currently retesting the major trendline and is expected to bounce back soon. 📈

#BinanceJapanTransition #BinanceSquareBTC #BTC #BTC🔥🔥 $XRP $ETH
@BreakOut_Expert

$BTC UPDATE on December 21

➡When updating today, $BTC retested 41k8 - 42k to break out to 44k3 but failed because there is still a resistance area above 44k7.

➡In the H4 frame, $BTC is operating in the range of 42k9 - 43k2 with a high possibility of retesting around those 2 areas for further PUMP. If you sew 2 areas 42k9 - 43k2, the probability will be 41k6.

➡Everyone, please pay attention to scalp orders, current Long positions should mainly be aimed at selling positions. Except for the deep positions of swing entry, it still holds position as well as Spot.

Wishing everyone a safe Long Short Life!
#BinanceResignation #BinanceSquareBTC #btc

The third Industrial Revolution is coming...

$BTC
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#BTC #etf #BTC🔥🔥 #IluPredictor #BinanceSquareBTC

🚀 Bitcoin’s Bright Future: VanEck CEO’s Bold Prediction! 💎

Crypto Enthusiasts! Linkan here with some electrifying Bitcoin news from VanEck’s CEO. ⚡️

🌐 $BTC ‘s New Heights: Jan van Eck, CEO of VanEck, a global financial company, predicts Bitcoin reaching a new all-time high within the next 12 months, surpassing the $69,000 peak of late 2021.

💰 Gold Similarities and ETF Hopes: Van Eck’s interest in Bitcoin sparked due to its parallels with gold. Despite hurdles with the SEC, he remains hopeful about the potential approval of Bitcoin ETFs【

📊 Bitcoin vs Gold: Observing similar market movements between Bitcoin and gold, Van Eck sees the upcoming Bitcoin halving and ETF approvals as catalysts for its price surge

🛑 Refuting Bubble Claims: Van Eck counters the bubble narrative around Bitcoin, citing its consistent outperformance and dominance in the digital store of value space.

🌟 Hashtags to Follow: #BitcoinPrediction #BTC #etf #BinanceCommunity #BinanceSquareBTC

💬 Let’s discuss! What are your thoughts on Bitcoin’s potential for new highs? Share your insights below!

Remember to verify and stay updated with the latest information.

Disclaimer: This information is for educational purposes only and not financial advice. Please conduct your own research.

$ALGO /USDT

#LONG-5-7x📈

Entry

0.1093

Sl: 0.1010

Take-Profit
1) 0.1120
2) 0.1145
3) 0.1189
4) 0.1228
5) 0.1271

Capital: 2-3%
R/R ratio: 2.2
(Use only what you can afford to lose at the SL) #BinanceSquareBTC #FutureTradingStrategy #CZBinance #BTC