Key points: Bitcoin’s bullish momentum has weakened, raising the chance of a correction to $100,000. Altcoins are likely to follow Bitcoin price and consolidate near their most immediate support levels. Bitcoin’s (BTC) failure to rise above $109,588 may have tempted short-term buyers to book profits. That has pulled the price under $104,000 on May 30.…
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Key point: Bitcoin (BTC) remains pinned below the breakout level of $109,588, indicating that the bears are fiercely defending the level. Bitfinex analysts said in a market note that profit-taking generally follows after Bitcoin hits a new all-time high after a sharp rally. The report added that a mild retracement or consolidation would be healthy…
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Key points: Bitcoin ETPs continue to witness solid buying, signaling that the bulls expect the uptrend to continue. Several major altcoins witnessed a pullback, but lower levels continue to attract buyers. Bitcoin (BTC) is attempting to sustain above $109,588, indicating buying on every minor dip. Bitcoin has risen for seven consecutive weeks, and if buyers…
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Key points: Bitcoin price is stuck below $109,588, but the pullback has not altered its bullish chart structure. A bullish weekly open from Bitcoin could extend gains in HYPE, XMR, AAVE, and WLD. Bitcoin (BTC) remains stuck below the $109,588 level during a quiet weekend, but analysts remain bullish. Material Indicators co-founder Keith Alan said…
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Key points: Bitcoin slipped below $109,588, but technical charts suggest traders are buying each dip. Excessive leverage in Bitcoin futures increases the risk of a quick correction. Select altcoins have turned down from their respective overhead resistance levels, signaling that the bears remain sellers on rallies. Sellers have pulled Bitcoin (BTC) back below the breakout…
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Key points: Bitcoin’s rejection at $107,000 shows sellers are active at higher levels, but the recovery from the intraday low shows solid buying. Strategy and Metaplanet continue to accumulate Bitcoin, adding steady buy-side pressure to BTC price. Select altcoins have pulled back, but they have not yet turned negative. Bitcoin’s (BTC) attempt to challenge the…
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Key points: Bitcoin’s rally to $105,980 has traders predicting new all-time highs this week. Traders lift their end-of-year Bitcoin price targets to $200,000 based on technical factors and institutional investor adoption. Bitcoin (BTC) has been stuck in a narrow range for the past few days, but the rally above $105,500 on May 18 increases the…
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Key points: Bitcoin price saw profit booking near $105,819, signaling that bears remain active at higher levels. Select altcoins have continued to move higher, indicating increased investor interest. The SPX and the DXY are playing catch-up to Bitcoin following the US-China trade deal. Bitcoin (BTC) has started the new week on a cautious note, falling…
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Key points: Bitcoin holds on to its recent gains, increasing the possibility of a retest of the all-time high at $109,588. BlackRock’s spot Bitcoin ETF records 19 days of successive inflows, showing solid demand. Select altcoins are showing strength, having broken out of their large basing patterns. Bitcoin (BTC) made a decisive move above the…
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Key points: Bitcoin holding $100,000 as a level of support would confirm the current trend change. Ether leads among altcoins, and DeFi tokens could follow. Bitcoin (BTC) broke above the psychologically critical $100,000 level on May 8, and the bulls are trying to hold on to the level on May 9. In an X post,…
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