Wednesday, August 6, 2025
Coin Insights
No Result
View All Result
  • Home
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi
  • Web 3
    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    Enhancing Security in Online Gambling with Blockchain Technology

    Enhancing Security in Online Gambling with Blockchain Technology

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

  • Metaverse
    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    Experience to Earn: Everdome's Metaverse Frontier

    Experience to Earn: Everdome’s Metaverse Frontier

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    Council of Europe Highlights Metaverse's Impact on Privacy and Democracy

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

    Carrieverse and Disney Ink Content Deal

    Carrieverse and Disney Ink Content Deal

    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

    Somnia Launches Playground App to Empower Metaverse Creators

    Somnia Launches Playground App to Empower Metaverse Creators

  • NFT
    Cloudflare Accuses Perplexity AI of Using Stealth Crawlers to Evade Website Blocks

    Cloudflare Accuses Perplexity AI of Using Stealth Crawlers to Evade Website Blocks

    CryptoPunks and Pudgy Penguins Draw Major Sales

    CryptoPunks and Pudgy Penguins Draw Major Sales

    NFT Sales Spike in July—but Still Miles Below 2024’s Highs

    NFT Sales Spike in July—but Still Miles Below 2024’s Highs

    Ethereum Collections Lead NFT Sales Today

    Ethereum Collections Lead NFT Sales Today

    how NFTs became a global brand and a Web3 “social currency”

    how NFTs became a global brand and a Web3 “social currency”

    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

    Labubus have succeeded in every way that NFTs have failed

    Labubus have succeeded in every way that NFTs have failed

    CryptoPunks Floor Price Hits 3-Year High of $208,000

    CryptoPunks Floor Price Hits 3-Year High of $208,000

    NFT sales surge to $574 million in July, second-highest in 2025

    NFT sales surge to $574 million in July, second-highest in 2025

  • Gaming
    Cracking China’s Blockchain Gaming Market: Why Shrapnel Chose GalaChain

    Cracking China’s Blockchain Gaming Market: Why Shrapnel Chose GalaChain

    Shrapnel to Leave Avalanche in New Partnership with Gala Games

    Shrapnel to Leave Avalanche in New Partnership with Gala Games

    Google to Pit Top AI Models Against Each Other in Live Chess Tournament

    Google to Pit Top AI Models Against Each Other in Live Chess Tournament

    Blockchain Bookmakers: A New Era of Fair and Secure

    Blockchain Bookmakers: A New Era of Fair and Secure

    Ethereum NFT Sales Surge 56% in July 2025 as Alt-Chains Lose Market Share

    Ethereum NFT Sales Surge 56% in July 2025 as Alt-Chains Lose Market Share

    The Biggest Games Releasing in August 2025

    The Biggest Games Releasing in August 2025

    TaskOn Joins EPHYRA to Elevate AI-Powered Gaming Experience

    TaskOn Joins EPHYRA to Elevate AI-Powered Gaming Experience

    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

    Early Off the Grid Skin Holders Are Cashing In – Will You?

    Early Off the Grid Skin Holders Are Cashing In – Will You?

  • Blockchain
    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    LFG Boosts Token Launches with Community Power

    LFG Boosts Token Launches with Community Power

    Polyhedra Network launches Proof Cloud in open beta

    Polyhedra Network launches Proof Cloud in open beta

    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

    SoonVerse Partners with Arris to Enhance User Experience

    SoonVerse Partners with Arris to Enhance User Experience

    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

  • AI
    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    ETH Daddy Discusses Ethereum and AI

    ETH Daddy Discusses Ethereum and AI

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    ChatGPT is a tad too enthusiastic about Ethereum’s prospects

    I asked ChatGPT to predict Ethereum’s prospects as billionaire holders accumulate

    UAE emirate launches new free zone for digital assets, Web3 and AI

    UAE emirate launches new free zone for digital assets, Web3 and AI

  • Guides
    What’s the Difference & Which Is Better to Trade?

    What’s the Difference & Which Is Better to Trade?

    Think Your Cold Wallet Is Safe? Not If You Make These 7 Mistakes

    Think Your Cold Wallet Is Safe? Not If You Make These 7 Mistakes

    What are Decentralized Autonomous Organizations (DAO)? The Pros, Cons, and Real-World Examples

    What are Decentralized Autonomous Organizations (DAO)? The Pros, Cons, and Real-World Examples

    What Is Copy Trading in Crypto? A Beginner’s Guide

    What Is Copy Trading in Crypto? A Beginner’s Guide

    A Step-by-Step Guide for Risk-Takers

    A Step-by-Step Guide for Risk-Takers

    What is Spot Trading in Crypto? A Beginner’s Guide to How It Works

    What is Spot Trading in Crypto? A Beginner’s Guide to How It Works

    How It Works and What to Watch Out For

    How It Works and What to Watch Out For

    Crypto Risk Management Strategies for Trading (2025)

    Crypto Risk Management Strategies for Trading (2025)

    What Is Crypto Staking? How to Earn Crypto by Holding It

    What Is DeFi Staking? Everything You Need to Know

  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Dogecoin Bull run

    Here’s What Could Trigger the Next Dogecoin (DOGE) Bull Run, According to Crypto Strategist

    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

    SEC Chair Gary Gensler Standing in the Way of Bitcoin ETFs, Says ARK Invest’s Cathie Wood

    SEC Chair Gary Gensler Standing in the Way of Bitcoin ETFs, Says ARK Invest’s Cathie Wood

    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

  • Coin Marketcaps
  • Home
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi
  • Web 3
    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    Enhancing Security in Online Gambling with Blockchain Technology

    Enhancing Security in Online Gambling with Blockchain Technology

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

  • Metaverse
    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    Experience to Earn: Everdome's Metaverse Frontier

    Experience to Earn: Everdome’s Metaverse Frontier

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    Council of Europe Highlights Metaverse's Impact on Privacy and Democracy

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

    Carrieverse and Disney Ink Content Deal

    Carrieverse and Disney Ink Content Deal

    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

    Somnia Launches Playground App to Empower Metaverse Creators

    Somnia Launches Playground App to Empower Metaverse Creators

  • NFT
    Cloudflare Accuses Perplexity AI of Using Stealth Crawlers to Evade Website Blocks

    Cloudflare Accuses Perplexity AI of Using Stealth Crawlers to Evade Website Blocks

    CryptoPunks and Pudgy Penguins Draw Major Sales

    CryptoPunks and Pudgy Penguins Draw Major Sales

    NFT Sales Spike in July—but Still Miles Below 2024’s Highs

    NFT Sales Spike in July—but Still Miles Below 2024’s Highs

    Ethereum Collections Lead NFT Sales Today

    Ethereum Collections Lead NFT Sales Today

    how NFTs became a global brand and a Web3 “social currency”

    how NFTs became a global brand and a Web3 “social currency”

    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

    Labubus have succeeded in every way that NFTs have failed

    Labubus have succeeded in every way that NFTs have failed

    CryptoPunks Floor Price Hits 3-Year High of $208,000

    CryptoPunks Floor Price Hits 3-Year High of $208,000

    NFT sales surge to $574 million in July, second-highest in 2025

    NFT sales surge to $574 million in July, second-highest in 2025

  • Gaming
    Cracking China’s Blockchain Gaming Market: Why Shrapnel Chose GalaChain

    Cracking China’s Blockchain Gaming Market: Why Shrapnel Chose GalaChain

    Shrapnel to Leave Avalanche in New Partnership with Gala Games

    Shrapnel to Leave Avalanche in New Partnership with Gala Games

    Google to Pit Top AI Models Against Each Other in Live Chess Tournament

    Google to Pit Top AI Models Against Each Other in Live Chess Tournament

    Blockchain Bookmakers: A New Era of Fair and Secure

    Blockchain Bookmakers: A New Era of Fair and Secure

    Ethereum NFT Sales Surge 56% in July 2025 as Alt-Chains Lose Market Share

    Ethereum NFT Sales Surge 56% in July 2025 as Alt-Chains Lose Market Share

    The Biggest Games Releasing in August 2025

    The Biggest Games Releasing in August 2025

    TaskOn Joins EPHYRA to Elevate AI-Powered Gaming Experience

    TaskOn Joins EPHYRA to Elevate AI-Powered Gaming Experience

    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

    Early Off the Grid Skin Holders Are Cashing In – Will You?

    Early Off the Grid Skin Holders Are Cashing In – Will You?

  • Blockchain
    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    LFG Boosts Token Launches with Community Power

    LFG Boosts Token Launches with Community Power

    Polyhedra Network launches Proof Cloud in open beta

    Polyhedra Network launches Proof Cloud in open beta

    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

    SoonVerse Partners with Arris to Enhance User Experience

    SoonVerse Partners with Arris to Enhance User Experience

    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

  • AI
    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    ETH Daddy Discusses Ethereum and AI

    ETH Daddy Discusses Ethereum and AI

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    ChatGPT is a tad too enthusiastic about Ethereum’s prospects

    I asked ChatGPT to predict Ethereum’s prospects as billionaire holders accumulate

    UAE emirate launches new free zone for digital assets, Web3 and AI

    UAE emirate launches new free zone for digital assets, Web3 and AI

  • Guides
    What’s the Difference & Which Is Better to Trade?

    What’s the Difference & Which Is Better to Trade?

    Think Your Cold Wallet Is Safe? Not If You Make These 7 Mistakes

    Think Your Cold Wallet Is Safe? Not If You Make These 7 Mistakes

    What are Decentralized Autonomous Organizations (DAO)? The Pros, Cons, and Real-World Examples

    What are Decentralized Autonomous Organizations (DAO)? The Pros, Cons, and Real-World Examples

    What Is Copy Trading in Crypto? A Beginner’s Guide

    What Is Copy Trading in Crypto? A Beginner’s Guide

    A Step-by-Step Guide for Risk-Takers

    A Step-by-Step Guide for Risk-Takers

    What is Spot Trading in Crypto? A Beginner’s Guide to How It Works

    What is Spot Trading in Crypto? A Beginner’s Guide to How It Works

    How It Works and What to Watch Out For

    How It Works and What to Watch Out For

    Crypto Risk Management Strategies for Trading (2025)

    Crypto Risk Management Strategies for Trading (2025)

    What Is Crypto Staking? How to Earn Crypto by Holding It

    What Is DeFi Staking? Everything You Need to Know

  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Dogecoin Bull run

    Here’s What Could Trigger the Next Dogecoin (DOGE) Bull Run, According to Crypto Strategist

    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

    SEC Chair Gary Gensler Standing in the Way of Bitcoin ETFs, Says ARK Invest’s Cathie Wood

    SEC Chair Gary Gensler Standing in the Way of Bitcoin ETFs, Says ARK Invest’s Cathie Wood

    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

  • Coin Marketcaps
No Result
View All Result
Coin Insights
No Result
View All Result
Home Bitcoin

Bitcoin Struggle Below $60K But Rally To 68k Still In Play–Here’s Why

September 3, 2024
in Bitcoin
30
Bitcoin Struggle Below $60K But Rally To 68k Still In Play–Here’s Why
585
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter
  • Bitcoin struggled to stay above $60,000, with some analysts forecasting a potential rally to $68,000.
  • Whale transactions and a possible “golden cross” signaled positive signs for Bitcoin’s near-term performance.

Bitcoin [BTC] has faced difficulty in maintaining a rally above the $60,000 mark, despite brief periods of trading above it last week.

As of the time of writing, the cryptocurrency was trading at $58,947, marking a modest 2.1% increase over the past 24 hours. 

The market’s current volatility has kept Bitcoin from making a significant upward movement, and the asset has now dipped below the critical $60,000 level.

However, despite this recent performance, some analysts continue to express optimism about Bitcoin’s potential for a rally in the coming weeks.

Rebound amid market uncertainty?

Captain Faibik, a well-known crypto analyst on X (formerly Twitter), recently shared his optimistic outlook for Bitcoin, suggesting that the asset may still be poised for a significant rally. According to Faibik,

“BTC is still moving within a Bullish Flag Pattern. It may test the $54k support area again, and it’s crucial for the bulls to defend this level. If Bitcoin bounces back from the $54k support, it could rally up to $68k in September.”

For context, a bullish flag pattern is a continuation pattern that appears after a strong price movement, typically characterized by a brief consolidation or pullback phase that forms a rectangular shape resembling a flag. 

Source: Captain Faibik on X

Source: Captain Faibik/X

This pattern suggests that the asset could resume its upward trend once it breaks out of the flag formation, potentially leading to a significant price increase.

Faibik’s analysis indicated that while Bitcoin may face short-term volatility, the overall trend could still be upward, especially if the $54,000 support level holds.

Another positive sentiment in the crypto community comes from Crypto Jelle, who highlighted the formation of a weekly golden cross on Bitcoin’s chart.

See also  Why Bitcoin, Ethereum ETF volumes surged despite the crypto slump

Jelle noted,

 “Bitcoin is forming a weekly golden cross for the first time in its history. The 100-week MA is crossing above the 200-week MA this week. In traditional markets, these crossovers are considered a bullish sign; will it work for BTC too?” 

Notably, a golden cross occurs when a short-term moving average crosses above a long-term moving average, typically viewed as a strong indicator of an upcoming bullish trend. 

Source: Crypto Jelle on X

Source: Crypto Jelle/X

The occurrence of a golden cross on the weekly timeframe for Bitcoin is seen as a potentially significant event that could signal further upward momentum.

Bitcoin’s growing whale activity

Beyond technical indicators, Bitcoin’s fundamentals also suggested a positive outlook. Data from IntoTheBlock revealed a notable increase in whale transactions—those exceeding $100,000—over the past week.

Source: IntoTheBlock

Source: IntoTheBlock

Specifically, these transactions have surged from below 13,000 last week to approximately 16,940 as of today.

This increase in large transactions often signals growing interest from institutional investors or high-net-worth individuals, which could drive further price appreciation.

Additionally, Bitcoin’s Network Value to Transactions (NVT) ratio, used to assess the asset’s valuation relative to its transaction activity, sat at 27.63 at press time, according to data from CryptoQuant. 

Bitcoin NVT Ratio

Source: CryptoQuant


Read Bitcoin’s [BTC] Price Prediction 2024–2025


The NVT ratio is often compared to the price-to-earnings (P/E) ratio in traditional markets, where a lower NVT ratio could indicate that Bitcoin is undervalued, while a higher ratio might suggest it is overvalued.

With the press time NVT ratio of 27.63, Bitcoin’s valuation appeared to be in a reasonable range, potentially supporting further growth if transaction activity continues to increase.

Next: Cardano crypto whales dump $326 mln after Chang hard fork – What now?

READ ALSO

Bitcoin nears $91K as buying pressure soars, but challenges emerge

Spot Bitcoin ETF Options – How U.S exposure is set to soar after CFTC’s notice

  • Bitcoin struggled to stay above $60,000, with some analysts forecasting a potential rally to $68,000.
  • Whale transactions and a possible “golden cross” signaled positive signs for Bitcoin’s near-term performance.

Bitcoin [BTC] has faced difficulty in maintaining a rally above the $60,000 mark, despite brief periods of trading above it last week.

See also  MicroStrategy's Michael Saylor on Bitcoin: 'Unlock your future'

As of the time of writing, the cryptocurrency was trading at $58,947, marking a modest 2.1% increase over the past 24 hours. 

The market’s current volatility has kept Bitcoin from making a significant upward movement, and the asset has now dipped below the critical $60,000 level.

However, despite this recent performance, some analysts continue to express optimism about Bitcoin’s potential for a rally in the coming weeks.

Rebound amid market uncertainty?

Captain Faibik, a well-known crypto analyst on X (formerly Twitter), recently shared his optimistic outlook for Bitcoin, suggesting that the asset may still be poised for a significant rally. According to Faibik,

“BTC is still moving within a Bullish Flag Pattern. It may test the $54k support area again, and it’s crucial for the bulls to defend this level. If Bitcoin bounces back from the $54k support, it could rally up to $68k in September.”

For context, a bullish flag pattern is a continuation pattern that appears after a strong price movement, typically characterized by a brief consolidation or pullback phase that forms a rectangular shape resembling a flag. 

Source: Captain Faibik on X

Source: Captain Faibik/X

This pattern suggests that the asset could resume its upward trend once it breaks out of the flag formation, potentially leading to a significant price increase.

Faibik’s analysis indicated that while Bitcoin may face short-term volatility, the overall trend could still be upward, especially if the $54,000 support level holds.

Another positive sentiment in the crypto community comes from Crypto Jelle, who highlighted the formation of a weekly golden cross on Bitcoin’s chart.

Jelle noted,

 “Bitcoin is forming a weekly golden cross for the first time in its history. The 100-week MA is crossing above the 200-week MA this week. In traditional markets, these crossovers are considered a bullish sign; will it work for BTC too?” 

Notably, a golden cross occurs when a short-term moving average crosses above a long-term moving average, typically viewed as a strong indicator of an upcoming bullish trend. 

Source: Crypto Jelle on X

Source: Crypto Jelle/X

The occurrence of a golden cross on the weekly timeframe for Bitcoin is seen as a potentially significant event that could signal further upward momentum.

See also  Bitcoin: Japan banking crisis to aid BTC? Arthur Hayes predicts big moves

Bitcoin’s growing whale activity

Beyond technical indicators, Bitcoin’s fundamentals also suggested a positive outlook. Data from IntoTheBlock revealed a notable increase in whale transactions—those exceeding $100,000—over the past week.

Source: IntoTheBlock

Source: IntoTheBlock

Specifically, these transactions have surged from below 13,000 last week to approximately 16,940 as of today.

This increase in large transactions often signals growing interest from institutional investors or high-net-worth individuals, which could drive further price appreciation.

Additionally, Bitcoin’s Network Value to Transactions (NVT) ratio, used to assess the asset’s valuation relative to its transaction activity, sat at 27.63 at press time, according to data from CryptoQuant. 

Bitcoin NVT Ratio

Source: CryptoQuant


Read Bitcoin’s [BTC] Price Prediction 2024–2025


The NVT ratio is often compared to the price-to-earnings (P/E) ratio in traditional markets, where a lower NVT ratio could indicate that Bitcoin is undervalued, while a higher ratio might suggest it is overvalued.

With the press time NVT ratio of 27.63, Bitcoin’s valuation appeared to be in a reasonable range, potentially supporting further growth if transaction activity continues to increase.

Next: Cardano crypto whales dump $326 mln after Chang hard fork – What now?
Tags: 60K68KBitcoinPlayHeresrallystruggle

Related Posts

Bitcoin must pass $63.2k soon, for THIS vital reason
Bitcoin

Bitcoin nears $91K as buying pressure soars, but challenges emerge

November 17, 2024
Spot Bitcoin ETF Options – How U.S exposure is set to soar after CFTC’s notice
Bitcoin

Spot Bitcoin ETF Options – How U.S exposure is set to soar after CFTC’s notice

November 17, 2024
FLOKI’s price profits from Coinbase hype, but here’s why all’s not done just yet
Bitcoin

FLOKI’s price profits from Coinbase hype, but here’s why all’s not done just yet

November 17, 2024
Bitcoin – Here’s what its new ‘5-year low’ means for BTC’s run to $100K
Bitcoin

Bitcoin – Here’s what its new ‘5-year low’ means for BTC’s run to $100K

November 16, 2024
Will miner selling pressure be Bitcoin’s hurdle to $100K?
Bitcoin

Will miner selling pressure be Bitcoin’s hurdle to $100K?

November 16, 2024
Bitcoin above $90K – $5.42 billion in profits despite rising sell pressure means…
Bitcoin

Bitcoin above $90K – $5.42 billion in profits despite rising sell pressure means…

November 16, 2024
Next Post
2024 Report Finds 96% of NFTs Declared ‘Dead’ Amid Market Instability

2024 Report Finds 96% of NFTs Declared ‘Dead’ Amid Market Instability

Comments 30

  1. Kak zarabotat v internete_tcet says:
    11 months ago

    заработок в интернете заработок в интернете .

    Reply
  2. snyatie zapoya na domy_qmpl says:
    11 months ago

    капельница от запоя на дому http://www.snyatie-zapoya-na-domu13.ru/ .

    Reply
  3. mjb8y says:
    2 months ago

    buy cheap clomiphene without dr prescription where to get cheap clomiphene no prescription can you get generic clomid online where to buy clomiphene without dr prescription cost of generic clomid can you buy clomiphene prices can i purchase clomid without insurance

    Reply
  4. cialis buy online cheap says:
    2 months ago

    More delight pieces like this would insinuate the интернет better.

    Reply
  5. does flagyl make you hungry says:
    2 months ago

    Thanks towards putting this up. It’s well done.

    Reply
  6. o311q says:
    2 months ago

    purchase zithromax generic – order generic ciprofloxacin flagyl 400mg tablet

    Reply
  7. ld4yk says:
    2 months ago

    buy rybelsus 14 mg without prescription – buy semaglutide medication cyproheptadine over the counter

    Reply
  8. evi7l says:
    2 months ago

    domperidone 10mg brand – cheap cyclobenzaprine cost cyclobenzaprine 15mg

    Reply
  9. 39t6p says:
    2 months ago

    propranolol uk – clopidogrel 75mg pill methotrexate 5mg without prescription

    Reply
  10. nhu59 says:
    2 months ago

    order amoxil – cheap amoxicillin pills ipratropium where to buy

    Reply
  11. s8iyd says:
    1 month ago

    zithromax 250mg pills – purchase bystolic for sale nebivolol 20mg pill

    Reply
  12. qkhz5 says:
    1 month ago

    augmentin 375mg ca – atbioinfo buy generic acillin

    Reply
  13. jfz37 says:
    1 month ago

    buy generic esomeprazole – https://anexamate.com/ esomeprazole order online

    Reply
  14. try4c says:
    1 month ago

    order warfarin 5mg for sale – anticoagulant purchase hyzaar generic

    Reply
  15. ojmis says:
    1 month ago

    order mobic 15mg for sale – relieve pain meloxicam cheap

    Reply
  16. gd2fj says:
    1 month ago

    buy deltasone 5mg pills – arthritis order deltasone 20mg

    Reply
  17. eecdy says:
    1 month ago

    medicine for erectile – fastedtotake buy erectile dysfunction meds

    Reply
  18. yahw0 says:
    1 month ago

    amoxicillin tablets – combamoxi order amoxil without prescription

    Reply
  19. 4ax5y says:
    4 weeks ago

    order generic diflucan 200mg – forcan pill order diflucan sale

    Reply
  20. jw8p7 says:
    4 weeks ago

    cenforce tablet – https://cenforcers.com/# cenforce 100mg oral

    Reply
  21. 72mpi says:
    3 weeks ago

    cialis purchase canada – https://ciltadgn.com/# tadalafil troche reviews

    Reply
  22. Connielet says:
    3 weeks ago

    ranitidine pills – https://aranitidine.com/# order zantac 150mg generic

    Reply
  23. ls7mi says:
    3 weeks ago

    great white peptides tadalafil – site price of cialis at walmart

    Reply
  24. Connielet says:
    3 weeks ago

    More posts like this would make the blogosphere more useful. click

    Reply
  25. dwhym says:
    3 weeks ago

    street value of viagra 50mg – on this site sildenafil 50 mg cost

    Reply
  26. Connielet says:
    3 weeks ago

    Greetings! Extremely useful suggestion within this article! It’s the little changes which choice turn the largest changes. Thanks a quantity quest of sharing! ursxdol

    Reply
  27. vzh1o says:
    3 weeks ago

    More posts like this would create the online time more useful. https://buyfastonl.com/azithromycin.html

    Reply
  28. 90sky says:
    2 weeks ago

    The sagacity in this piece is exceptional. https://prohnrg.com/product/lisinopril-5-mg/

    Reply
  29. 3sebc says:
    2 weeks ago

    More text pieces like this would urge the web better. https://aranitidine.com/fr/modalert-en-france/

    Reply
  30. Connielet says:
    18 hours ago

    More articles like this would remedy the blogosphere richer. https://ondactone.com/spironolactone/

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

POPULAR NEWS

Memecoin Project Obama6900 (OBX) Joins the Fight Against Malaria with Long-Lasting Insecticidal Nets (LLINs)

Memecoin Project Obama6900 (OBX) Joins the Fight Against Malaria with Long-Lasting Insecticidal Nets (LLINs)

October 28, 2023
Tezos 2023 Outlook: An Overview of Tezos (XTZ)

Tezos 2023 Outlook: An Overview of Tezos (XTZ)

November 2, 2023
UK risks regulating NFTs the wrong way, says Mintable CEO

UK risks regulating NFTs the wrong way, says Mintable CEO

October 30, 2023
How to Earn Keys to Boost Your HMSTR Airdrop

How to Earn Keys to Boost Your HMSTR Airdrop

September 10, 2024
Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

August 3, 2024

Don't miss a single story

Subscribe to our free Newsletter

EDITOR'S PICK

India Blockchain Week (IBW) Reveals Exciting Line-up of Speakers: Sandeep Nailwal, Mo Shaikh, Dr. Emin, Justin Sun and More

Solcraft Ecosystem Preparing to Launch the $SOFT Utility Token on Solana Blockchain

April 12, 2024
Bitcoin miners’ fortunes set to soar again?

Bitcoin miners’ fortunes set to soar again?

December 4, 2023
Reddit Is Sunsetting Animated Collectible Expressions for Polygon NFTs

Reddit Is Sunsetting Animated Collectible Expressions for Polygon NFTs

July 18, 2024
Ethereum’s challenge – Record low fees and a 6% price decline mean…

Ethereum’s challenge – Record low fees and a 6% price decline mean…

August 3, 2024

About

Dive into the world of cryptocurrency. Our news site offers insights, trends, and updates to guide your journey into the realm of digital finance.

Follow us

Categories

  • AI
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • DeFi
  • Ethereum
  • Gaming
  • Guides
  • Metaverse
  • Mining
  • NFT
  • Other
  • Web 3

Recent Posts

  • A Phenomenal 671 BTC Haul in July
  • Cango posts ‘massive’ July Bitcoin haul, boosting corporate treasury
  • Impressive 467 BTC Production in July

Newsletter

Don't miss a single story

Subscribe to our free Newsletter

  • Contact
  • Disclosure
  • Privacy Policy
  • Terms & conditions

© 2023 Coininsights.com - All rights reserved.

No Result
View All Result
  • Home
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi
  • Web 3
  • Metaverse
  • NFT
  • Gaming
  • Blockchain
  • AI
  • Guides
  • Analysis
  • Coin Marketcaps

© 2023 Coininsights.com - All rights reserved.