bullish

Bitcoin

when

<ul>
 <li>Bitcoin (BTC) falls to $61,000 price range caused by Middle East war tensions.</li>  
 <li>This leads to analyst calling for a bullish accumulation.</li>  
 <li>He expects Bitcoin and the crypto market to pump in Q4.</li> 
</ul>  
<p>Bitcoin price sinks to $61,000 level as tensions in the Middle East grow. In detail, BTC sank below $61,000 and ETH fell below $2,500. This led to 155,000 accounts being liquidated for an amount of $533 million, where long orders were liquidated for $451 million. The largest liquidation came from one single BTC/USDT <a href="https://x.com/WuBlockchain/status/1841277178388115746" target="_blank" rel="noopener noreferrer nofollow">Binance trade</a> for $12.6646 million.</p>  
<h2 class="wp-block-heading" id="h-is-the-bull-run-over-before-it-began">Is The Bull Run Over Before It Began?</h2>  
<p>In response to the crypto market’s latest dip, one crypto analyst states that the news of the war equals the end of the rise of crypto and digital currencies. He goes on to share a USDT chart where the Dominance of Tether moves upwards after reaching its rising trendline, i.e. the support line, and after breaking its downward trendline, it indicates that it wants to rise.</p>  
<figure class="wp-block-image"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXchE4sYx9eB3-6uD7AnM9Jf3XgvDwSeWfQGGmRVwVH5dy6v_xHPTxSq1dvtJ2WsIizhxm6-GA0CBO8kwRHHs-fpO4JZi7hh-nwpYDud7PsLaOx04TuHhBnAgEqQt2YyJ8YFDJj7TPR1GSRbqi5PtSbk9tYS?key=GMgcA_AdiqOUH4lMQi__jQ" alt="">
</figure>  
<p>As crypto analysts debate over what’s next for the market, one analyst, <a href="https://x.com/DrProfitCrypto" target="_blank" rel="noopener noreferrer nofollow">Doctor Profit</a>, known for his many accurate predictions made a statement. Yesterday, he expected BTC price to bounce from the $63,400 level. Instead, the price of BTC has now fallen to the $61,000 region. This has led to many traders asking him to admit his not so accurate call.&nbsp;</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/DrProfitCrypto/status/1841239195387588622
 </div>
</figure>  
<h2 class="wp-block-heading" id="h-btc-dip-signals-bullish-accumulation-opportunity">BTC Dip Signals Bullish Accumulation Opportunity</h2>  
<p>Instead, Doctor Profit stands his ground and states that the region of $60,000 - $61,000 is heavy support for BTC. He says that the key moving averages, liquidity, and OI/Spot ratio orders are all in this region and expects retail to panic sell here.&nbsp;&nbsp;</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/DrProfitCrypto/status/1841232815574434204
 </div>
</figure>  
<p>He says the war will not affect the crypto market and once the <a href="https://cryptonewsland.com/monitoring-m2-liquidity-and-vixnavigating-bitcoin-movements-in-september/" target="_blank" rel="noopener noreferrer nofollow">M2 money</a> starts flowing then massive new liquidity will pump the market to much greater highs. Doctor Profit also expects the price of BTC to hit an ATH of <a href="https://cryptonewsland.com/550000-btc-ath-bitcoin-8-trillion/" target="_blank" rel="noopener noreferrer nofollow">$550,000 by 2026</a> when Bitcoin’s market cap will reach 8 trillion.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/DrProfitCrypto/status/1841230518630613256
 </div>
</figure>  
<p>Finally, he states that a huge crash is unlikely, and the opposite will play out over the next few months. Lastly, he advises traders to relax and not panic every time we move in the same pattern since March. Calling this a bullish accumulation phase he encourages refraining from FUD intentions or giving into sell pressure.&nbsp;</p> 
<p>The post <a href="https://cryptonewsland.com/bitcoin-sinks-to-61000-bullish-accumulation/" rel="noopener noreferrer nofollow">Bitcoin Sinks to $61,000 Amidst War Tensions, Analyst Calls This an Opportunity for Bullish Accumulation</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Bitcoin Sinks to $61,000 Amidst War Tensions, Analyst Calls This an Opportunity for Bullish Accumulation

Table of Contents

Crypto News Land

Other articles published on Oct 2, 2024

Mendadak Sentimen "Fear" di Pasar Kripto Hari Ini

Fidelity’s FETH and Grayscale’s ETHE Drive $48.6M in Outflows Across U.S. Ether ETFs

Bitcoin to Re-Test All-Time High With Delayed Timeline

Meme Coin Watch: PEPE and FLOKI Among Biggest Losers

Ex-SEC Lawyer Says XRP Army Should be Agnostic on Ripple. Here’s why

Ethereum vs. TRON: ETH Still Leads in Stablecoin Market Share

Join our free newsletter for daily crypto updates!