Bitcoin

April

Rekt

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-trends-and-market-analysis-4/" data-wpel-link="internal">Bitcoin Price Trends and Market Analysis</a><br></p>
<p style="text-align: justify"><strong>BTC</strong> <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">price</a> is at $63,000, and it’s important to know that this doesn’t mean much to <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a>. <a href="https://en.coin-turk.com/vanguard-imposes-bitcoin-etf-embargo/" data-wpel-link="internal">Bitcoin</a> bulls have faced several setbacks following unsuccessful attempts to break the $73,777 resistance. <strong>SEC</strong> is moving forward with more crypto cases. The stance of US politicians against crypto has hardened, and US inflation has stopped falling. How does everything happen all at once?</p> 
<h2 style="text-align: justify" id="bitcoin-commentary">Bitcoin Commentary</h2> 
<p style="text-align: justify">The current time and price are extremely important. In January 2024, prices at $60,000 were tantalizing. Mid-2021, the $61,000 level had investors jumping for joy. And today, in mid-May 2024, a Bitcoin price of $63,000 only brings sleep to investors.</p> 
<p style="text-align: justify">Technical analysts closely followed by investors, like Rekt Capital, mention that the momentum on the selling side is starting to slow down. According to this analyst, maintaining $60,000 could prepare the ground for a new rally.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-350967 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/rekt-capital-guncel-grafik.png" alt="" width="1281" height="898"></p> 
<p style="text-align: justify">On-chain analyst Axel Adler Jr is examining network data and sees no signs that the bull cycle is ending. Some investors are depressed because BTC has been stagnant for a few weeks, moving away from the usual first-quarter rise, but the bull peak has not yet arrived. Axel wrote;</p> 
<blockquote> 
 <p style="text-align: justify">“Despite all the negativity in the <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a>, there is no signal in the on-chain data that the bull cycle is ending.”</p> 
</blockquote> 
<h2 style="text-align: justify" id="will-cryptocurrencies-increase">Will Cryptocurrencies Increase?</h2> 
<p style="text-align: justify">There is still much time until the end of the month, but this week’s April inflation data could increase volatility. The first quarter data was very bad, but the last month’s employment data showed at least some relaxation on the labor front. On-chain analyst Binhdangg notes the weakening selling pressure among long-term investors and thinks the CPI data will be positive.</p> 
<p style="text-align: justify">Crypto Dan wrote that demand through the ETF channel during this period could steadily strengthen the market compared to previous bull cycles.</p> 
<blockquote> 
 <p style="text-align: justify">“Therefore, the likelihood that we have reached the peak of this bull cycle is low, maybe we are only 20% along the way?”</p> 
</blockquote> 
<p style="text-align: justify">QCP Capital argues that the price holding at $60,000 could trigger a new attempt towards $70,000. However, the direction until May 31 will largely depend on this week’s inflation data.</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-price-trends-and-market-analysis-4/" data-wpel-link="internal">Bitcoin Price Trends and Market Analysis</a></h5>

Bitcoin Price Trends and Market Analysis

Table of Contents

COINTURK NEWS

Other articles published on May 13, 2024

io.net Enters Strategic Partnership With Aethir To Expand Its Decentralized Computing Infrastracture

Crypto Analyst Marks Boring Sideways Movement as Whale Accumulation Phase, Trigger to Super Cycle...

VanEck’s Bitcoin ETF HODL Posts Net Increase of $109M in Q1, Totals $620M: Official Records

BounceBit’s Bitcoin Restaking Airdrop is now Available

GME Price Prediction: GME Goes Ballistic With 505% Surge As Analysts Say This New Solana Meme Coi...

MoonPay donates to Coinbase’s Stand With Crypto campaign

Join our free newsletter for daily crypto updates!