Stablecoin

bullish

United

Bitcoin

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<p>The post <a href="https://coinpedia.org/news/bitcoin-price-at-a-crossroads-navigating-the-death-cross-and-potential-bullish-breakout/">Bitcoin Price at a Crossroads: Navigating the Death Cross and Potential Bullish Breakout</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Bitcoin (BTC) has been struggling to overcome the daily death cross between the 50 and 200 Moving Averages (MAs) in recent days. The cryptocurrency has tried to break through the critical resistance/support zone between $61,000 and $62,000 but has yet to succeed. This juncture could either lead to a further decline in the crypto market or signal the start of a new bullish phase.</p> 
<p>The fate of the cryptocurrency market hangs in the balance.</p> 
<h2 class="wp-block-heading" id="h-long-term-investors-stay-committed">Long-Term Investors Stay Committed </h2> 
<p>Despite recent challenges, on-chain data indicates that long-term investors are keeping their focus on the broader picture. The global economic outlook remains uncertain, with ongoing conflicts in the Middle East and between Russia and Ukraine intensifying the crisis. This situation is driving more people towards Bitcoin and other digital assets as a safe haven.</p> 
<p>Amid fears of a crypto correction, institutional investors are increasing their Bitcoin holdings. For example, BlackRock’s IBIT and Fidelity’s FBTC have recently seen significant cash inflows into their US spot Bitcoin ETFs. Goldman Sachs has reported over $400 million in exposure to these ETFs. </p> 
<p>Additionally, Japanese company Metaplanet completed a $3.3 million Bitcoin purchase on Tuesday, raising its holdings to over 303 BTC.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> Traders Speculate on Potential Bullish Impact of $2.5 Billion Stablecoin Inflow<br><br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;">1-10) Monitoring and analyzing crypto money flows is crucial for assessing market conditions that can act as tailwinds or headwinds for Bitcoin and other cryptocurrencies. <a href="https://twitter.com/hashtag/Traders?src=hash&amp;ref_src=twsrc%5Etfw">#Traders</a> are… <a href="https://t.co/YVXkDPjaxt">pic.twitter.com/YVXkDPjaxt</a></p>— 10x Research (@10x_Research) <a href="https://twitter.com/10x_Research/status/1823511459768492176?ref_src=twsrc%5Etfw">August 14, 2024</a>
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<p>Over $2.5 billion in stablecoins have flowed into centralized exchanges recently, suggesting potential increased buying pressure in the market.</p> 
<h2 class="wp-block-heading" id="h-is-a-breakout-coming">Is a Breakout Coming? </h2> 
<p>Bitcoin’s price has formed an inverted triangular consolidation pattern over the past five months, hinting at a potential major bullish breakout. Today’s Consumer Price Index (CPI) data from the United States will shed light on whether the Federal Reserve will move forward with anticipated interest rate cuts next month.</p> 
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   <p lang="en" dir="ltr">This is the biggest <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> pattern I've ever seen… <a href="https://t.co/XeDG7qvLE5">pic.twitter.com/XeDG7qvLE5</a></p>— Crypto Rover (@rovercrc) <a href="https://twitter.com/rovercrc/status/1823438371773145570?ref_src=twsrc%5Etfw">August 13, 2024</a>
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<p><strong>Critical Levels to Watch</strong></p> 
<p>From a technical perspective, Bitcoin is showing a macro bullish signal that might soon come to fruition. However, this positive outlook could be jeopardized if the price falls below the key liquidity range of $48,000 to $50,000.</p> 
<p><strong>With institutional investors piling in, is this the beginning of a new Bitcoin bull run? Share your insights.</strong></p>

Bitcoin Price at a Crossroads: Navigating the Death Cross and Potential Bullish Breakout

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