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2024

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<p>The post <a href="https://coinpedia.org/news/bitcoins-critical-moment-will-july-10th-11th-propel-btc-price-to-67k-or-crash-to-48k/">Bitcoin’s Critical Moment: Will July 10th-11th Propel BTC Price to $67K or Crash to $48K?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p><a href="https://markets.coinpedia.org/bitcoin/" target="_blank" rel="noreferrer noopener">Bitcoin’s (BTC) price</a> has rebounded from the recent selloff in the past three days. During the early European session, the flagship coin pumped more than 3 percent in the past 24 hours to hover around $59,200 on Wednesday. As a result, the altcoin industry registered similar gains led by Avalanche (AVAX), Cardano (ADA), and Polkadot.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-increased-crypto-fear">Increased Crypto Fear</h2> 
<p>The sudden Bitcoin pump did not surprise most investors, compared to the recent capitulation. Around $106 million was liquidated from the entire crypto derivatives market compared to the $700 million during the recent capitulation.</p> 
<p>According to Bitcoin’s fear and greed index, the crypto industry has been experiencing its highest level of fear since January 2023.</p> 
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   <p lang="en" dir="ltr">We're witnessing the highest level of fear in the <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw">#crypto</a> market since January 2023! <a href="https://t.co/DhArw0Vbgm">pic.twitter.com/DhArw0Vbgm</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1810674992603926615?ref_src=twsrc%5Etfw">July 9, 2024</a>
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<h2 class="wp-block-heading" id="h-whales-on-the-move">Whales on the Move</h2> 
<p>The recent Bitcoin dip towards $54k triggered by the ongoing sell-offs by the German government and the Mt.Gox repayments have been a buying opportunity for some.&nbsp;</p> 
<p>According to <a href="https://x.com/ali_charts/status/1810791390764232964?s=46" target="_blank" rel="noreferrer noopener nofollow">on-chain data</a>, a single whale purchased around 10k BTCs on Tuesday, thus joining other whale traders in accumulation. In the past three days, the US-based spot Bitcoin ETFs have registered a total cash inflow of over $650 million.</p> 
<h2 class="wp-block-heading" id="h-what-next">What Next?</h2> 
<p><a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">Bitcoin price</a> has rebounded above the crucial support/resistance level of around $59k ahead of tomorrow’s US CPI data. Tomorrow’s economic data will clarify whether the Fed will initiate the much-anticipated interest rate cuts later this year.</p> 
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   <p lang="en" dir="ltr">If <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> can reclaim $58,400, a $60,000-$60,700 retest is likely.<br><br>What happens between $60k and $58,400 will determine whether <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> sees $67k or $48k next.<br><br>All eyes on US CPI and PPI this Thursday and Friday. <a href="https://t.co/trRto6OiNY">https://t.co/trRto6OiNY</a> <a href="https://t.co/cHC3pjenfc">pic.twitter.com/cHC3pjenfc</a></p>— Justin Bennett (@JustinBennettFX) <a href="https://twitter.com/JustinBennettFX/status/1810769416327712781?ref_src=twsrc%5Etfw">July 9, 2024</a>
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<p>According to popular crypto analyst Justin Bennett, traders should closely monitor how the flagship coin performs between $58k and $60k. Furthermore, a solid close above $60k will yield a rally towards $67k, while the opposite will lead to a further market correction towards $48k.</p> 
<p>Read Also: <a href="https://coinpedia.org/news/bitcoins-price-volatility-signals-potential-bull-run-by-q3-key-metrics-explained/" target="_blank" rel="noreferrer noopener">Bitcoin’s Price Volatility Signals Potential Bull Run by Q3: Key Metrics Explained</a></p>

Bitcoin’s Critical Moment: Will July 10th-11th Propel BTC Price to $67K or Crash to $48K?

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