Renowned on-chain analyst Willy Woo predicts Bitcoin price could bottom in the $46,000-$54,000 range, based on classic on-chain models. The lower Bitcoin bottom prediction coming during heightened volatility and uncertainty sparked jitters in the crypto market. Bitcoin Price Bottom Prediction by Willy Woo BTC bulls are holding strongly between $65,000 and $70,000, resisting a drop
The post Bitcoin Price Bottom Prediction by On-chain Veteran Willy Woo Sparks Jitters appeared first on CoinGape.
]]>Popular BTC analyst Willy Woo has issued a stark warning of an upcoming major Bitcoin price crash, following a rebound to mid-$70K levels. He predicts timeline for the bearish trend will subside and bear market bottom in 2027. Willy Woo Issues Dire Warning on Upcoming Bitcoin Price Crash Willy Woo, analyst with a solid quant
The post Popular Analyst Willy Woo Predicts Major Bitcoin Price Crash, Bear Market Bottom Timeline appeared first on CoinGape.
]]>Cardano’s (ADA) Path to $5 Could Be Delayed Till Next Cycle As This New XRP Rival Continues To Woo Investors Mitrade
Source link ]]>
Bitcoin, Ethereum, Dogecoin Drop As Stock Futures Slide: Willy Woo Says ‘All Dips Are For Buying’ With BTC Eyeing ‘All-Time Highs Benzinga
Source link ]]>
Recently, the cryptocurrency market experienced a significant correction, witnessing a sudden decline in the global crypto market cap. This downturn coincided with data from the Bitcoin Liquidation Heatmap, as relayed by popular analyst Willy Woo. The analysis signals the potential for a substantial $1.5 billion Bitcoin short liquidation once BTC reaches the critical threshold of $72,000. As of today, the price of Bitcoin (BTC) stands at $70,959.96, with the cryptocurrency’s 24-hour trading volume recorded at $36.5 billion. Over the past 24 hours, Bitcoin has surged by 2.85%, reflecting a notable recovery despite recent market volatility.
Analysis of Bitcoin’s Price Trends and Impending Liquidation
Despite the looming $1.5 billion Bitcoin short liquidation threat at $72,000, BTC has shown resilience. Earlier, it was confined within a large descending channel pattern characterized by lower highs and lows. However, a breakout has occurred, which some interpret as a signal of a potential bull market. The $60,000 support zone has proven resilient on multiple occasions, with market sentiment targeting the channel’s higher boundary.
Bitcoin price rallied upwards strongly yesterday, breaching the symmetrical triangle’s resistance line, achieving the first target at $70,645.00, and eyeing further gains towards $73,800.00. The bullish trend is expected to continue, supported by the EMA50 carrying the price from below. Notably, breaking $68,890.00 would halt the expected rise and subject the price to negative pressure on an intraday basis. The Relative Strength Index (RSI) surpassing the 50% mark indicates a return to bullish momentum. Willy Woo has further predicted that amid breaking the $72,000 level could lead to a rally towards $75,000 and potentially new all-time highs.
Also Read: Hacked Japanese Crypto Exchange DMM Bitcoin Plans Massive BTC Purchase
Live Market Dynamics and Long-Term Outlook
As of today, the live price of Bitcoin (BTC) is $71,028.56, with a 24-hour trading volume of $32.4 billion. The cryptocurrency has surged 3% in the past 24 hours and is currently trading between $71,224.18 and $70,476.79. Bitcoin’s live market cap stands at $1.3 trillion. Open interest in Bitcoin has surged by 5.96%, reaching a valuation of $20.4 billion. Historical price data suggests that Bitcoin is heading towards forming a new all-time high in the first few weeks of 2025.
The price has followed a parabolic curve during the past bull run and now appears to be at the midpoint of the rally. Despite the RSI indicating a well-planned rally, recent rejections above $71,000 have diminished bullish strength. Traders now expect BTC to maintain its current sluggish trend for a while. However, from a long-term perspective, market dynamics are anticipated to shift, potentially having a major impact on Bitcoin’s price trajectory.
Also Read: ETH Supply to Drop By 1.26 Million In Five Months of Spot Ethereum ETF Launch
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Top Trader Reveals Top 5 Altcoins: Optimism, Arbitrum, Woo Network, Wormhole, and Dogecoin Crypto News Flash
Source link ]]>
Shiba Inu, Shibarium, HarryPotterObamaSonic10Inu, Dogecoin, Woo Network, Pepe Coin, and ApeMax: Spotlighting … Analytics Insight
Source link ]]>
Bitcoin price has stabilized its technical aspect above $30,000, giving bulls ample time to plan the next targeted attack on the resistance between $31,000 and $32,000. With BTC making numerous attempts to break this resistance, such a move will likely open the door to gains eyeing $35,000 and $38,000.
Is Bitcoin Price Close To A Breakout?
The largest cryptocurrency is trading at $30,760 toward the end of the Asian session on Monday. Since the recovery started in the wake of June’s drop beneath $25,000, Bitcoin price has generally sustained its position above $30,000.
However, it has become increasingly difficult to push steady price movements above $31,000, let alone the upper resistance range around $32,000.
Despite the snarl-up across the board, analysts believe Bitcoin price is in a position that may allow it to rally, closing the distance to $38,000 as opposed to sliding to $25,000.
A buy signal from the Moving Average Convergence Divergence (MACD) indicator reinforces the bullish grip on BTC.
Moreover, Bitcoin’s position above all the applied moving averages, including the 50-day EMA, the 100-day EMA, and the 200-day EMA, shows that a bullish breakout is the most likely outcome.
As investors prepare for the anticipated move to $35,000 and $38,000, they must keenly watch BTC’s reaction to the immediate resistance at $31,000. It would be prudent to hold onto the buy orders and only consider activating with the price flipping above the short-term hurdle.
Some conservative traders may want to wait until Bitcoin price steps above the subsequent hurdle at $32,000, which would be followed by a spike in trading volume and increased investor interest.
On the other hand, the Money Flow Index (MFI), which recently pulled back from the oversold region, reveals that Bitcoin price may first drop to $30,000, and if push comes to shove, $28,000, where it would sweep through fresh liquidity to support an extended breakout to $38,000.
What Will it Take for Bitcoin Price To Rise To $310k?
Popular on-chain analyst Willy Woo has affirmed his bullish stance on Bitcoin, but this time with a massive forecast of $310,000 per BTC. However, Woo told his millions of followers on Twitter that there’s a caveat.
In his opinion, eight institutions must be comfortable with dedicating up to 5% of their assets under management (AUM) to the largest crypto.
Some of these firms include Blackrock with $9,090 billion AUM, Fidelity with $4,240 billion AUM, JP Morgan with $3,300 AUM, Morgan Stanley with $3,131 billion AUM, and Goldman Sachs with $2,672 AUM among others.
According to Woo, if all these eight firms channel 5% of their AUM into Bitcoin, the price of the coin could jump to range between $128,000 and $398,000. However, he warned that “it would really depend on whether they deploy in a bearish or bullish phase of the market.”
It would really depend on whether they deploy in a bearish or bullish phase of the market but the range would be between $128k – $398k. Right now it’s $310k.
Methodology is via measuring market cap increase vs realised cap increase. pic.twitter.com/pPO0U6xAE8
— Willy Woo (@woonomic) June 28, 2023
Woo’s remarks come in the wake of filings by investment giants BlackRock and Fidelity for a Bitcoin-spot exchange-traded fund (ETF). These applications, however, have been allegedly deemed insufficient by the U.S. Securities and Exchange Commission (SEC).
Market participants believe Blackrock has at least a 50% chance of getting the approval, which is expected to increase investor confidence in a market characterized by extreme volatility.
Related articles
AD
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Sparklo (SPRK) Shines While WOO Network (WOO) and Cardano … Tekedia
Source link ]]>
Woo Network, Conflux, and Kava prices held quite well even as American stocks continued plunging. WOO jumped by over 11.3% in the past 24 hours as we wrote here while Conflux and Kava soared by over 6%. Bitcoin remained steady at $29,000 while Ethereum and BNB prices held at $1,890 and $325, respectively.
US equities plunge
American stocks continued falling on Thursday as investors reacted to the latest interest rate decision by the Federal Reserve. In it, the bank decided to hike interest rates by 0.25%, bringing the headline rate to between 5.0% and 5.25%. That was the highest rate the US has been in more than a decade.
Analysts believe that the Federal Reserve will now pause rates as it observes the state of the financial market and inflation. The hope is that the elevated inflation will help to limit inflation. Data published last month showed that the headline consumer inflation dropped to 5.0% in March and analysts believe that the situation will continue as crude oil prices continue dropping.
Cryptocurrencies like WOO, CFX, and KAVA did well even as the banking crisis in the US escalated. PacWest stock price has plunged by more than 50% on Thursday while Western Alliance and Comerica slumped. In all, the SPDR Regional Bank ETF dropped by over 5% and has crashed by more than 30% in the past three months.
Therefore, there is a likelihood that we will see more banks collapse this year. Already, companies like First Republic, Silicon Valley Bank, Signature, and Silvergate have all collapsed. And on Thursday, the Dow Jones, Nasdaq 100, and S&P 500 indices dropped by almost 1% each.
Bank collapses impact on crypto
Analysts believe that the collapse of these regional banks has a positive impact on cryptocurrencies for two main reasons. First, some analysts and investors see cryptocurrencies as safe havens which do well when there are elevated risks. They, especially Bitcoin, are now being seen as safe-haven assets.
Second, the collapse of these banks will lead to a slowdown of the American economy and force the Fed to intervene. In periods like these, the Fed tends to intervene by either reducing its quantitative tightening or by reducing rates. A pivot of the Fed will likely be positive for WOO, Conflux, KAVA, and other cryptocurrencies as we saw during the pandemic.
How to buy KAVA
Binance.US
Binance.US provides secure and reliable access to the world’s most popular cryptocurrencies, with some of the lowest fees in the industry.
Buy KAVA with Binance.US today
Wazirx
WazirX is India’s largest crypto exchange. Started in 2018, WazirX has grown to be the most trusted exchange in the Indian crypto market. It is a part of the binance group, serving users in 180 countries.
✓ Share: