Connect with us
  • tg

Cryptocurrency

Is Bitcoin About to Plummet Toward $50K or is Another Rally Incoming? (BTC Price Analysis)

letizo News

Published

on

Bitcoin’s price has entered a sideways consolidation phase following a notable surge toward the $52K resistance level, leaving market participants uncertain about its next direction. However, a short-term correction seems likely.

Technical Analysis

By Shayan

The Daily Chart

Analysis of the daily chart reveals a prolonged bull market for Bitcoin, characterized by its upward movement within a clearly defined ascending channel. This pattern indicates strong buyer dominance, potentially aiming for a new all-time high (ATH).

Despite this bullish sentiment, Bitcoin has encountered a critical resistance zone near the $52K mark after its recent upward surge.

Consequently, a period of consolidation correction is anticipated, allowing the market to find support levels around the channel’s mid-boundary and the 100-day moving average of $43K. However, a sudden breakthrough above the multi-month ascending channel could trigger a short-squeeze event, leading to another surge in the short term.

btc_price_chart_2402241
Source: TradingView

The 4-Hour Chart

A closer look at the 4-hour chart reveals a period of subdued price action near the significant $52K resistance level, with low volatility following a strong bullish rally.

This consolidation phase with slight volatility suggests a balance between buyers and sellers until one group gains dominance. If sellers take control, a short-term corrective retracement toward the critical support zone around $48K may occur, aligning roughly with the 50% Fibonacci retracement level.

Conversely, if buyers prevail, an impulsive surge could be expected, aiming to breach the critical resistance region at $58K. Monitoring these crucial levels and market dynamics will be essential to navigate potential fluctuations, given the anticipated heightened volatility in the short term.

btc_price_chart_2402241
Source: TradingView

On-chain Analysis

By Shayan

This chart depicts the UTXO (Unspent Transaction Output) value bands, specifically focusing on holdings of between 1K and 10K Bitcoins alongside Bitcoin’s price. This metric serves as a key indicator of big players’ accumulation or distribution behavior within the market.

An uptick in the metric signals accumulation among significant market participants, such as whales or institutional investors, while a decline suggests distribution. Recent data reveals a notable increase in the number of UTXOs ranging from 1K to 10K Bitcoins, a range typically associated with whales or institutions rather than individual investors. This surge, particularly following the approval of Bitcoin spot ETFs, underscores heightened activity among institutional players.

While not yet reaching the levels seen during the latter stages of the 2021 bull market, the influx of whales and institutions into the market is noteworthy. Historically, such influxes have often preceded the entry of new individual investors, marking a potential transition point in the market cycle.

btc_chart
Source: CryptoQuant
SPECIAL OFFER (Sponsored)
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

Cryptocurrency

XRP Price Analysis: How Possible is for Ripple to Hit $4 In The Next Few Days?

letizo News

Published

on

Ripple has recently rallied to test the key $3.6 resistance zone.

Should buying pressure continue and price secure a breakout above this level, the move could pave the way for an extended advance toward the $4 region.

By Shayan

The Daily Chart

XRP has recently bounced from the critical $2.8 support zone, which aligns with the 0.5 Fibonacci retracement of the prior rally.

This confluence attracted notable buying interest, triggering a sharp upswing toward the $3.4–$3.6 resistance range. This zone represents a prior swing high and a likely area of concentrated supply, making it a significant hurdle for buyers to clear.

If bulls successfully reclaim the $3.6 level with strong volume, the path toward the psychological $4 threshold becomes more attainable. However, given the overhead supply, some short-term consolidation or a minor pullback from $3.6 is possible before any sustained breakout attempt.

xrp_price_chart_1208251
Source: TradingView

The 4-Hour Chart

On the 4H timeframe, XRP’s bullish structure is more pronounced. Following a period of consolidation within a bullish flag formation, the market found support at the 0.5 Fib level and broke decisively to the upside.

This breakout has fueled the advance toward the $3.6 resistance.

If buyers can overcome this barrier, the resulting breakout could trigger a short-squeeze, accelerating price toward $4. Conversely, repeated rejections at $3.6 could lead to another consolidation phase within the current range before the next directional move.

xrp_price_chart_1208252
Source: TradingView
SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

Continue Reading

Cryptocurrency

Capital B Acquires 126 BTC, Total Holdings Top 2,200

letizo News

Published

on

The data & AI technology consulting company, now turned to treasury, has released a financial statement showcasing its most recent Bitcoin procurement.

Meanwhile, the crypto asset posted some gains over the weekend and, at the time of writing, is still riding the bullish wave.

The Acquisition

Listed on the Euronext Growth Paris ($ALCPB), Capital B (formerly the Blockchain Group), announced its most recent purchase via a press release earlier today.

The 126 bitcoins were purchased for approximately €12.4 million (~$ 14.4 M), bringing their total stash to 2,201, with an average purchase price of $106,770 per coin.

This aligns with their plan to have 3,000 BTC by the end of fiscal 2025, which falls on September 27th this year, and their overall goal of owning 1% of all Bitcoin by 2033. They started the acquisitions in early November last year and have achieved a Bitcoin yield of 1,519.5% year-to-date (YTD).

This is a metric that tracks the percentage change in the ratio of total BTC holdings to fully
diluted shares outstanding over a given period, or simply put, how much more of the asset is owned per potential share of stock.

They are currently ranked 24th on Bitcoin Treasuries, neck-and-neck with HIVE Digital Technologies, which also holds 2,201 BTC, and behind the 2,353 BTC that Microcloud Hologram currently holds.

Bitcoin Outlook

The largest cryptocurrency by market capitalization had a green Sunday, opening at $116,490 and closing the day at $119,310, representing a 2.42% increase. The wave continues into Monday, and at press time, the asset remains on the rise.

An interesting week is ahead of us, as per the US economic calendar, with CPI and PPI data being released, along with several other key indicators.

Bitcoin, like other volatile assets, tends to react to macroeconomic data, so its price could fluctuate depending on the numbers. The highly anticipated Fed meeting is also approaching, with just over a month to go until we hear whether a rate cut will be announced, which is another potential catalyst for price moves.

SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Continue Reading

Cryptocurrency

A Modest One: Saylor’s Strategy Buys 155 BTC for $18 Million

letizo News

Published

on

Strategy – the company founded by Michael Saylor – rarely skips a Monday without announcing a crypto purchase.

Today was no exception as the company revealed it had acquired the modest (for its standards) 155 BTC for roughly $18 million. The average price of the deal was around $116,401 per coin.

Over the past few months, the company has announced several more impressive deals. Towards the end of June, it bought 4,980 BTC for over $530 million, while a few weeks prior, it stunned the community with a multi-billion-dollar purchase. 

Strategy has achieved a BTC yield of 25% YTD 2025. It is the world’s biggest corporate holder of the primary cryptocurrency, and currently it has 628,946 BTC bought for approximately $46.09 billion.

Due to the price increase of the asset, the current value of the holdings now exceeds $75 billion, meaning the company is sitting on a paper profit of almost $30 billion. 

It is worth mentioning that Strategy began accumulating BTC exactly five years ago. Its initial purchase included 21,000 coins, valued at around $250 million. 

SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Continue Reading

Trending

©2021-2024 Letizo All Rights Reserved