Ethereum

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoins-positive-outlook-aiming-for-83000-milestone/" data-wpel-link="internal">Bitcoin’s Positive Outlook: Aiming for $83,000 Milestone</a> 
In the midst of an ongoing bull market, <a href="https://coin-turk.com/bitcoin-son-dususun-sorumlulari-belli-oldu-iste-one-cikan-5-neden" data-wpel-link="internal">Bitcoin</a> (<a href="https://coin-turk.com/yuzde-570-buyuk-patlama-bitcoin-her-seferinde-yukselten-boga-sinyali-icin-geri-sayim" data-wpel-link="internal">BTC</a>), the world’s largest cryptocurrency by market value, continues to demonstrate strength by holding above the $72,000 level. <a href="https://en.coin-turk.com/bitcoin-trends-downward-amid-unemployment-claims-but-whats-next-experts-weigh-in/" data-wpel-link="internal">Bitcoin</a>‘s price consistently sets new records while investor sentiment remains optimistic. 
<h2 style="text-align: justify" id="strong-positive-trends-in-bitcoin-83-000-target-in-sight-strong">Positive Trends in Bitcoin: $83,000 Target in Sight</h2> 
Renowned Bitcoin analyst Willy Woo notes that daily capital inflows stored by the Bitcoin network have risen to $2 billion per day, a level comparable to the last significant bull market. Woo predicts further increases in inflows, attributing the notable rise to the recent launch of spot ETFs, which significantly support capital flow into the Bitcoin network. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-326670" src="https://coin-turk.com/wp-content/uploads/2024/03/Bitcoin-Egilim-scaled.jpeg" alt="" width="808" height="542"> 
Additionally, on-chain data indicates a significant shift in accumulation patterns. According to the data, small Bitcoin wallets are accumulating, while whale-sized large wallets are selling. On-chain data provider Santiment reports that in the last two weeks, as Bitcoin continued to reach new highs, the number of small wallets holding less than 0.1 <a href="https://en.coin-turk.com/bitcoin-and-ethereum-expected-to-make-a-move-as-on-chain-metrics-signal-activity/" data-wpel-link="internal">BTC</a> increased by 277,000, while the number of wallets holding a thousand or more decreased by 105. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-326671" src="https://coin-turk.com/wp-content/uploads/2024/03/BTC-Ali-Martinez.png" alt="" width="553" height="558"> 
Experienced cryptocurrency analyst Ali Martinez highlights a significant development in the crypto market as approximately $83 billion flows into various cryptocurrencies, with a substantial portion directed towards Bitcoin and <a href="https://coin-turk.com/en-iyi-kripto-yorumcusu-bitcoin-ethereum-ve-litecoin-fiyati-buraya-gidecek" data-wpel-link="internal">Ethereum</a> (ETH). Martinez’s analysis, based on Bitcoin MVRV Pricing Bands, forecasts a significant price target of $83,035 for the largest cryptocurrency. 
The inflow of funds into Bitcoin and <a href="https://en.coin-turk.com/ethereum-shows-strong-rally-potential-as-key-updates-approach/" data-wpel-link="internal">Ethereum</a> reflects a broader trend of institutional and individual investors eager to enter the cryptocurrency market, anticipating further price rises and adoption. 
<h2 style="text-align: justify" id="strong-rising-since-mid-2023-strong">Rising Since Mid-2023</h2> 
On the other hand, U.S. stocks also rose, showing resilience despite higher-than-expected inflation figures announced for February. Jurrien Timmer, Director of Global Macro at Fidelity, points out a significant trend in the financial environment, emphasizing that liquidity is reviving regardless of the Fed’s stance. 
Timmer notes that overall liquidity, indicated by the Fed’s balance sheet minus reverse repos (RRP) and the Treasury’s cash balance at the Fed (TGA), has been steadily increasing since mid-2023, coinciding with the rise in stock prices. 
With liquidity remaining strong, the likelihood of a significant correction in BTC’s price or the overall cryptocurrency market seems remote, signaling continued optimism among investors in the midst of the ongoing bull market. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoins-positive-outlook-aiming-for-83000-milestone/" data-wpel-link="internal">Bitcoin’s Positive Outlook: Aiming for $83,000 Milestone</a></h5>

Bitcoin’s Positive Outlook: Aiming for $83,000 Milestone

Table of Contents

COINTURK NEWS

Other articles published on Mar 13, 2024

Bitcoin reacts to stubbornly high US inflation amidst Fed rate speculation

How to Buy Utrust Coin?

Binance Continues Meme Coin Promotion For Shiba Inu, Dogecoin, WIF, And Others

The Great Mystery in Bitcoin is Being Solved: Critical Date is 15 May

Coinbase Announced Private Offering Of $1B Bond Sale

New record: Bitcoin ETFs hit $1B in daily inflow

Join our free newsletter for daily crypto updates!