Ethereum

Bitcoin ETF

Strong

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-etfs-exhibit-strong-demand-overcoming-new-supply/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin ETFs Exhibit Strong Demand Overcoming New Supply</a><br></p>
<p class="p1" style="text-align: justify"><a href="https://coin-turk.com/bitcoinde-btc-analist-gorusu-btcde-bu-metrik-endiseye-yol-acti" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> ETF funds’ relentless hunger is greatly surpassing the new <strong><a href="https://en.coin-turk.com/why-are-cryptocurrencies-rising-today-here-are-3-details-you-need-to-know/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a></strong> supply anticipated for the year 2024. Compared to the approximately 65,500 Bitcoins mined in 2024, the two largest Bitcoin ETF funds are holding more than 330,000 Bitcoins. It is likely that strong demand will limit any downward trends in the near term. Bernstein analysts forecast that Bitcoin could reach $150,000 by the middle of 2025.</p>
<h2 class="p1" style="text-align: justify" id="bitcoin-chart-analysis">Bitcoin Chart Analysis</h2>
<p class="p1" style="text-align: justify">Bears attempted to initiate a pullback from $73,000, but the long tail on Bitcoin’s March 12 candlestick indicates solid buying during intraday dips. The <strong><a href="https://coin-turk.com/bitcoin-fiyati-btcde-onemli-seviyeler-ve-olasi-dusus-senaryosu" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a>/<a href="https://coin-turk.com/tether-usdt-avukatindan-yanit-geldi-tether-rezervlerinde-bitcoin-btc-mi-tutuyor" data-wpel-link="internal" rel="noopener noreferrer nofollow">USDT</a></strong> pair has been climbing in the upper half of an ascending channel formation for several days, yet bears have prevented the price from breaking above the resistance line. However, if bulls manage to push the price above the channel, the upward momentum could increase, potentially raising the pair to $80,000.</p>
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-327112 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/bitcoin-1.webp" alt="" width="1315" height="805"></p>
<p class="p1" style="text-align: justify">Contrary to this assumption, if the price falls and dips below $70,000, the pair could drop to the channel’s support line. If bears pull the price below the channel, selling could accelerate. The pair could fall to $59,000 and then to the 50-day simple moving average at $53,099.</p>
<h2 class="p1" style="text-align: justify" id="ethereum-chart-analysis">Ethereum Chart Analysis</h2>
<p class="p1" style="text-align: justify">Bears pulled <a href="https://en.coin-turk.com/waiting-time-to-become-an-ethereum-validator-is-rapidly-decreasing/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum</a> below the $4,000 psychological level on March 12th, but the long tail on the day’s candlestick suggests that each dip is seen as a buying opportunity. Buyers are trying to lift the price above the immediate resistance at $4,100. If successful, the <strong>ETH/USDT</strong> pair could initiate the next leg of its uptrend, potentially rising to $4,372 and ultimately to $4,868.</p>
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-327111 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/ethereum-1.webp" alt="" width="1315" height="805"></p>
<p class="p1" style="text-align: justify">A minor risk to the rally’s continuation is the RSI trading in the overbought region for the past few days. This indicates the rally might be overheated, suggesting a possible minor correction or consolidation. The critical support to watch on the downside is at the $3,600 level.</p>
<h2 class="p1" style="text-align: justify" id="bnb-chart-analysis">BNB Chart Analysis</h2>
<p class="p1" style="text-align: justify"><a href="https://en.coin-turk.com/crypto-market-update-btc-falls-by-1-and-bnb-faces-losses/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BNB</a> gained momentum after breaking above $460 and has been on an uptrend since. This indicates strong demand at higher levels. A minor resistance is at $617, but if buyers keep the upper hand, the uptrend is expected to continue, with the <strong>BNB/USDT</strong> pair possibly rising to $670.</p>
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-327110 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/bnb-1.webp" alt="" width="1315" height="805"></p>
<p class="p1" style="text-align: justify">Vertical rallies are rarely sustainable and often followed by sharp declines. The first sign of weakness could be a drop below the psychological level of $500. This could accelerate selling, potentially driving the pair down to $460.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-etfs-exhibit-strong-demand-overcoming-new-supply/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin ETFs Exhibit Strong Demand Overcoming New Supply</a></h5>

Bitcoin ETFs Exhibit Strong Demand Overcoming New Supply

Table of Contents

COINTURK NEWS

Other articles published on Mar 13, 2024

UniSwap (UNI) and Theta (THETA) Set for Gains? Elite Analyst Outlines These Bullish Patterns

Coq Inu and Snek Lead Meme Coin Rally on Avalanche and Cardano

Bitcoin Fog Founder Found Guilty in $400 Million Crypto Laundering Scheme

Memeinator Raise Passes $6.5M as Presale Nears Final Stage (13 Mar)

Best XDC Wallet: How to choose, and which one is the best

Bitcoin Anticipates Major Bull Run, Experts Suggest

Join our free newsletter for daily crypto updates!