Cryptocurrency
Bitcoin (BTC) Price to Hit New ATH as Long as It Stays Above This Resistance Zone (Analyst)

TL;DR
- Analysts share optimistic BTC price predictions. One trader thinks a parabolic increase of $300K is possible sometime next year.
- The US presidential election on November 5 may drive BTC volatility due to candidates’ contrasting crypto policies.
New Peak Under This Condition
Bitcoin’s price has been one of the hottest topics in the crypto space in the past few days. It pumped to as high as $73,600 (just $150 away from tapping a new all-time high) on October 29 before slightly retreating to its current $72,200 (per CoinGecko’s data).
Somewhat expectedly, the impressive performance caught the eye of numerous industry participants, many of whom predicted that a fresh peak might be just around the corner. One of those who chipped in is the popular X user Michael van de Poppe. He claimed BTC has recently consolidated before “continuing towards new ATHs.”
The analyst believes the asset will remain at the forefront of gains if it stays above the critical resistance level of $70,000.
The investor and BTC maxi Fred Krueger also gave his two cents. He remarked that the primary cryptocurrency is still below “the power law trendline of 75ish,” envisioning a gigantic surge to $300,000 sometime next year. “Don’t even think of selling any of your Bitcoin,” he advised.
Earlier this week, Mikybull Crypto noted that BTC experienced a so-called “golden cross.” This technical chart pattern occurs when the asset’s short moving average (often the 50-day) crosses above its long-term moving average (for example, the 200-day). The emergence of a “golden cross” contrasts with a “death cross” and could be a precursor of a further move to the upside.
Enhanced Volatility Incoming?
BTC may experience substantial price swings as soon as next week due to the upcoming US presidential elections (scheduled for November 5).
Voters will have to choose between Republican Donald Trump and Democrat Kamala Harris. The former made a U-turn earlier this year, showing huge support for the cryptocurrency sector. For example, he promised to let BTC thrive and fire the SEC’s Chairman, Gary Gensler (considered a big enemy of the industry), should he emerge victorious.
Harris, on the other hand, has not been that vocal on the matter. Earlier this month, she finally mentioned the crypto sector, advocating for a comprehensive crypto regulatory framework to protect “black men and others” who participate in the market. However, she did not provide clear details on the potential rules.
That said, it will be interesting to see who will enter the White House as a winner and how the market will react to the news.
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Cryptocurrency
Bitcoin Price Crashes Below $100K as Iran Votes to Close Straits of Hormuz

Bitcoin’s price has crashed below $100,000 for the first time since May 25th, charting a decline of around 4% in the past 24 hours alone. The cryptocurrency is down 5.5% throughout the last seven days.
The market downturn has also caused a broader selloff amongst altcoins, most of which are deep in the red, resulting in almost $1 billion worth of liquidated positions, according to CoinGlass.
As CryptoPotato reported earlier today, the US joined the war between Israel and Iran, striking three strategic nuclear Irany sites.
In response, some media reports indicate that the Iranian Parliament has voted in support of closing the Strait of Hormuz – one of the world’s most criticial oil transit chokepoints.
This resulted in immediate increase in oil prices, which are up almost 1% on the day, sparking international fears of inflation and economic turmoil. Traders are seemingly derisking and it’s interesting to see how deep this correction will extend.
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Cryptocurrency
Bitcoin Demand is Drying Up, What Does This Mean? (CryptoQuant)

As bitcoin (BTC) attempts to recover from the effects of tensions in the Middle East, demand for the digital asset is drying up. Market experts from the on-chain intelligence company CryptoQuant have discovered that Bitcoin demand is entering a slowdown period.
According to the latest CryptoQuant weekly report, the decline in Bitcoin demand comes after a period of acceleration that pushed the price of BTC towards $112,000. Demand-momentum metrics are currently showing their most negative readings on record — -2 million BTC.
Bitcoin Demand is Weakening
CryptoQuant revealed that Bitcoin spot demand has continued to grow but at a decelerated expansion rate. Apparent demand growth has fallen to 118,000 BTC over the last 30 days, compared to 228,000 BTC recorded on May 27. The metric is also below its 30-day moving average, indicating that the demand for BTC is weakening.
Bitcoin whale and spot exchange-traded funds (ETFs) have halved their purchases. The expansion of whale balances has fallen to 1.7% month-over-month (MoM) from 3.9% as of May 27. Daily BTC purchases from ETFs are also down from an April 23 local peak of 9,700 BTC to 3,300 BTC today.
Additionally, demand from new participants entering the Bitcoin market is low, and overall demand momentum has turned negative. Short-term holders now account for 4.5 million BTC, a decline of 0.8 million BTC from the 5.3 million BTC they controlled as of May 27.
Furthermore, investors in the futures market have sold their BTC to lock in profits and are currently opening new short positions. CryptoQuant said its Bitcoin Traders’ Behavior Dominance metric shows that participants offloaded their coins to take profits after BTC hit $110,000 last week. Afterward, they opened fresh short positions as BTC below $105,000 amid rising tensions between Israel and Iran.
What to Expect
For BTC to experience a sustained rally, whales and spot ETFs need to increase their demand for the cryptocurrency. New investors also need to buy BTC from the old ones, thereby expanding the balances of short-term holders.
If demand continues to decline, BTC could plummet below $100,000 and fall to the support zone near $92,000. The crypto asset was hovering around $102,700 at the time of writing following the attacks from the US against Iran.
Meanwhile, CryptoQuant has identified $92,000 as the Traders’ On-chain Realized Price, which often acts as price support during bull markets. If BTC falls below this level, it could plunge to $81,000, which has been marked as the lower band of the Traders’ On-chain Realized Price.
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Cryptocurrency
Max Keiser Predicts $800K BTC from ‘Bond Apocalypse,’ Markets Eye $93K

At the time of this writing, Bitcoin (BTC) was a couple of hundred dollars under $103,000, after dipping 4% in 24 hours, but Max Keiser is suggesting this volatility is mere tremors before a seismic surge to $800,000.
In a sit-down with Bitcoin Magazine’s Isabella Santos, the legendary BTC prophet claimed that the 10-year Japanese Government Bond (JGB) yield is the “lynchpin” threatening financial collapse and triggering Bitcoin’s epic moon mission.
The Road to $800K
In the interview, the Bitcoin bull laid out a doomsday scenario that could potentially lead to an astronomical spike in the king cryptocurrency’s price:
“There is one piece of data that is the lynchpin of the entire global financial system… It’s the rate of interest on the 10-year Japanese bond,” Keiser declared.
Currently, the yield is at about 3.5%, and any higher, the market watcher warned, could potentially lead to the collapse of the decades-long “yen carry trade,” where Wall Street borrowed near-zero-yen to fuel speculative investments.
“The Japanese economy is going to have to start selling U.S. Treasury bonds to stay solid, which would create a cascading event, what I call the bond apocalypse, where the global bond market crashes.”
He stated that if this were to happen, then trillions of dollars’ worth of capital would flee collapsing government debt and rush straight into BTC.
“In that environment, Bitcoin spikes to $500,000, $600,000, $800,000.”
Bearish Caution
While Keiser’s prediction might have gotten the crypto community on X talking, the market remains rather tense and confused. Pseudonymous trader Mr Wall Street hinted at a potential short-term nosedive to the $93,000 to $95,000 range, warning that the charts were “screaming for lower.”
Still, voices of resilience have been piping up, with analyst Axel Adler Jr. pointing to rising long liquidation dominance without a major price crash as a “good signal,” suggesting strong underlying buyer support.
Additionally, on-chain sleuth DeFiTracer sees cooling Middle East tensions due to Iran’s apparent openness to talks as well as Fed member Christopher J. Waller’s signal for July rate cuts as bullish signals. He suggested these catalysts are quietly shifting markets from uncertainty “into the trust phase.”
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