Flow

Bitcoin

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin’s price has increased by over 3% in the last 24 hours, crossing the $60k mark.</li>
 <li>Analysts predict Bitcoin could reach new highs in 2024, with a potential rally to $88k in September.</li>
</ul>
<p>Bitcoin’s [BTC] recent activity has sparked optimism among investors, with the cryptocurrency showing signs of recovery after several weeks. The latest analysis suggests that <a href="https://coineagle.com/price/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> could even reach new highs in 2024.</p>
<h2 id="bitcoin-s-road-to-new-highs">Bitcoin’s Road to New Highs</h2>
<p>Data from CoinMarketCap revealed that Bitcoin’s price rose by more than 3% in the last 24 hours, crossing the $60k threshold once again. At the time of writing, Bitcoin was trading at $60,172 with a market capitalization exceeding $1.17 trillion.</p>
<p>This price increase has resulted in over 83% of Bitcoin investors currently in profit. According to a tweet from a popular crypto analyst, Titan of Cryptos, Bitcoin’s chart shows a right-angled descending broadening wedge pattern. If this pattern is tested, it could signal the beginning of a significant rally. This rally could potentially push Bitcoin to $88k by September, resulting in all Bitcoin investors being in profit.</p>
<h2 id="is-bitcoin-ready-for-a-pump">Is Bitcoin Ready for a Pump?</h2>
<p>Analysis of CryptoQuant’s data reveals that Bitcoin’s net deposit on exchanges is lower than the average of the last seven days, indicating high buying pressure. Additionally, its binary CDD is green, suggesting that long-term holders are not selling their coins. This confidence in Bitcoin is further reinforced by the green Miners’ Position Index (MPI), which indicates that miners are selling fewer holdings compared to the one-year average.</p>
<p>Most market indicators favor a continued price rise, with the MACD displaying a bullish crossover and the Relative Strength Index (RSI) registering an uptick. The Chaikin Money Flow (CMF) chart also shows an increasing trend, suggesting that Bitcoin could continue to increase its value and reach a new high by September.</p>

Surging Bitcoin Clears $60k: Could $88k by Fall be Next on the Horizon?

Table of Contents

CoinEagle.com

Other articles published on Jul 14, 2024

Trump’s presidential odds soar to all-time high on Polymarket following assassination attempt

Cryptocurrency Market Update: Polygon and Solana Face Declines, BlockDAG and Pawfury Show Promisi...

Bitcoin Reclaims $60K Level: Here’s A List of Altcoins Making Noise

All You Need To Know About Solana (SOL) Breaking The 1,000 TPS Barrier Again

Bitcoin Accumulation: Who’s Been Buying Up All The BTC Dumped By The German Government?

A Guide To Starting A Crypto Consulting Firm

Join our free newsletter for daily crypto updates!