Analysis News TheBitTimes.com

The Bitcoin price fell 2% in the last 24 hours to trade at $67,431 as of 03:27 a.m. EST on trading volume that surged 44% to $37.8 billion. This comes as Bitcoiners slam MicroStrategy co-founder Michael Saylor over comments that recommend Bitcoin custodianship through “too big to fail” financial institutions, a shift from his earlier stance in support of self-custody. In an October 21 interview with financial markets reporter Madison Reidy, Saylor suggested that Bitcoiners have nothing to lose by transferring their BTC to institutions. An investor who thinks that state-sanctioned Bitcoin seizure is possible is a “paranoid crypto anarchist,” he said. Bitcoin Price Indicators Still Support A Bullish Rally The Bitcoin price has been in a consolidation phase since August, as the bulls have continuously struggled to push BTC above the $65,400 resistance, according to data from GeckoTerminal . BTC recently broke out of the sideways pattern, with the token aiming...

With the recent rate cuts by the United States Federal Reserve (‘Fed’) providing a bullish trigger for the price of Bitcoin (BTC), the maiden cryptocurrency has managed to cross the critical level at $60,000 and continue upwards, and artificial intelligence (AI) algorithms have turned bullish. As it happens, for the first time in over four years, the U.S. central bank has cut the interest rates, and by no less than a half point, in an aggressive beginning of its easing campaign, helping Bitcoin to recover from its losses amid uncertainty prior to the Federal Open Market Committee (FOMC) vote. AI’s Bitcoin price prediction In this context, Finbold has consulted the advanced AI algorithm deployed by the crypto market analytics and forecasting platform PricePredictions , which has set Bitcoin’s price in an uptrend for the rest of the month, predicting it to hit $70,107.84 by October 1, 2024. Picks for ...

BTC Price Prediction: During early April, the Bitcoin price breached a psychological resistance of $30000 which offered buyers a strong stepping stone to stretch the recovery rally higher. However, the crypto market started witnessing an aggressive sell-off in mid-month as the market participants were still in the fear of rising inflation. As a result, the BTC price plunged below the $30000 level and trapped the hasty buyers in a bull trap scenario.  advertisement Key Points If the selling pressure persists, the Bitcoin price is poised for another 8% downfall The $25300 stands as crucial support to maintain the bullish sentiment in the market. The intraday trading volume in Bitcoin is $13.3 Billion, indicating a 25% loss Source- Tradingview The Bitcoin price witnessed aggressive selling in the past five days and recorded a 9.75% drop from the $30500 top. With sustained selling, the coin price is likely to test the nearest supp...