Cryptocurrency

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/michael-poppe-highlights-key-bitcoin-levels-in-new-analysis/" data-wpel-link="internal">Michael Poppe Highlights Key Bitcoin Levels in New Analysis</a> 
Cryptocurrency investors continue to face challenging times, with persistent negativity for almost two quarters. Concurrently, capital outflow from <a href="https://en.coin-turk.com/exploring-the-dynamics-of-fetch-ais-cryptocurrency-market/" data-wpel-link="internal">altcoins</a> has increased due to Bitcoin fluctuations. Prominent <a href="https://en.coin-turk.com/cryptocurrency-market-analysis-btc-chz-xrp-ceek-and-avax/" data-wpel-link="internal"></a><a href="https://en.coin-turk.com/cryptocurrency-market-update-trends-and-developments/" data-wpel-link="internal">crypto</a> analyst Michael Poppe recently shared a Bitcoin chart, emphasizing two critical levels. This analysis provides insights into Poppe’s forecast and current market data from IntoTheBlock. 
<h2 style="text-align: justify" id="poppe-s-bitcoin-prediction">Poppe’s Bitcoin Prediction</h2> 
Renowned crypto analyst Michael Poppe provided an updated evaluation of Bitcoin at the time of writing. His analysis is crucial as it considers targets for both scenarios. The key level, highlighted by various analysts for days, remains $57,000. Poppe noted, “A retest of the significant area shows Bitcoin holding up well. This is essential. Otherwise, we need to look at &lt;$53K or &lt;$48K. A break above $57,000 indicates strong continuation towards $60,000-$61,000.” 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-388237 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/09/btc-eylul-grafik-yorumu.jpg" alt="" width="1200" height="632"> 
<h2 style="text-align: justify" id="bitcoin-on-chain-data">Bitcoin On-Chain Data</h2> 
The Global In/Out of the Money data, transforming investor average costs into spheres, reminds us of the consolidation challenges between $61,335 and $72,500. A lack of buyers at high levels could lead to increased sales by investors. The support level is at $49,795, below $56,000. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-388239 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/09/iom-veri.png" alt="" width="1145" height="269"> 
Miner reserves, which had recovered, are declining again. Over the past week, they fell by 1.08%, dropping from 1.97 million to 1.91 million BTC. These numbers are significant considering the values involved. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-388240 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/09/ITB_btc_miner_reserves_undefined_2024-09-11T20_01_14.345Z.png" alt="" width="1200" height="800"> 
Despite net inflow to exchanges being positive on September 6th, it remains below the neutral level. Over a 30-day period, there was a net outflow of 9,600 BTC from exchanges. 
<img loading="lazy" decoding="async" loading="lazy" class="size-full wp-image-388241 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/09/ITB_btc_netflows_undefined_2024-09-11T20_02_42.361Z.png" alt="" width="1200" height="800"> 
As shown in the graph below, sales liquidity on centralized exchanges is much stronger. Sales dominate buyers in the 5% range, indicating that investors might continue to view each rise as an opportunity to sell. 
<img loading="lazy" decoding="async" loading="lazy" class="size-full wp-image-388242 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/09/ITB_btc_exchange_onchain_market_depth_undefined_2024-09-11T20_04_41.217Z.png" alt="" width="1200" height="800"> 
As of the writing, Bitcoin is hovering at $57,600. 
The post <a href="https://en.coin-turk.com/michael-poppe-highlights-key-bitcoin-levels-in-new-analysis/" data-wpel-link="internal">Michael Poppe Highlights Key Bitcoin Levels in New Analysis</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Michael Poppe Highlights Key Bitcoin Levels in New Analysis

Table of Contents

COINTURK NEWS

Other articles published on Sep 11, 2024

Crypto scammers target Indian Premier League team to promote Solana token

New Cryptocurrency Move from Standard Chartered

Update Insiden Indodax Diretas: Diduga Mirip Pola Peretas Lazarus dan Pelaku Punya Akses ke "Sign...

Justin Sun’s SunPump to Initiate "100% On-chain Buyback and Burn Process"

309 Billion Shiba Inu Withdrawal Stuns SHIB Community

3 Things Bitcoin Needs to Hit $60,000, Shiba Inu Surges 367% in Bullish Whale Activity, Major XRP...

Join our free newsletter for daily crypto updates!