Bitcoin

<p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/bitcoin/bitcoin-news-today-btc-price-awaits-bullish-breakout-amidst-growing-institutional-interest/">Bitcoin News Today- BTC Price Awaits Bullish Breakout Amidst Growing Institutional Interest</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>As the Bitcoin (BTC) market hovers just above the critical support level of $30,000, traders anxiously await a decisive breakout. Technical analysis suggests that the cryptocurrency’s price action on the daily timeframe may be forming a bullish megaphone pattern. </p> 
<p>With the bulls diligently defending the support level on the lower border, a surge in buyer activity could propel the asset higher in the upcoming weeks. Additionally, the altcoin market is gearing up for a potential rally after the SEC vs Ripple case triggered a bullish outlook.</p> 
<h2 class="wp-block-heading" id="h-analyst-predicts-impending-volatility-surge">Analyst Predicts Impending Volatility Surge</h2> 
<p>In a recent YouTube video, influential crypto analyst Jason Pizzino confidently asserted that the Bitcoin market is primed for a substantial volatility breakout in the near future. Notably, Pizzino highlighted that the macro price action for Bitcoin is currently following an upward trend channel, indicating that a bullish breakout is imminent despite the possibility of a short-term correction.</p> 
<p class="has-text-align-center"><img decoding="async" src="https://lh6.googleusercontent.com/_adpak49L11PI_7BSEAbMET9k49xVFomFsMFkLh7g5TWWailj0315pRDo5E8Q3rmZrs0GwDM0fz5SgipTjQoUc3toE-2mdKpo7FQI2Mpn-zSxSKuk_Uh05V5boAO7OTnsmAqvmP3F_j0KWv2Wf0EKJE" width="624" height="444"></p> 
<p>Pizzino further observed that for the cryptocurrency and Bitcoin market to continue rallying, the stock market will need to experience a correction after its recent bullish run over the past few months. Moreover, the analyst emphasized that institutional money has been playing a pivotal role in driving the crypto price action, especially in the wake of the recent Bitcoin ETF frenzy.</p> 
<p class="has-text-align-center"><img decoding="async" src="https://lh3.googleusercontent.com/ubhksj7ZnvmIPmWdFaAX99HHRfqKqtJJ8m39nFR29FoyhOXoSEdIu6JbvNGHXPObXHFRklzMUJZFwgDQ4lk4TSKrc-Ca6MNLZzZCPdZ24GYGsku-RW2ogwQDKma8QNa5vQ8FhjIRjf8L6xOr-5W4agc" width="624" height="401"></p> 
<p>From a short-term perspective, Pizzino remains optimistic about Bitcoin’s price trajectory, as increased demand appears to be supporting the cryptocurrency above the crucial $20,000 level. Although there are concerns that BTC demand may dip below 50 percent, the analyst does not foresee the price falling back below $20,000 in the current market conditions.</p> 
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
 <div class="wp-block-embed__wrapper"> <iframe title="Bitcoin is Struggling To Break The All-Important $32k Resistance. | What Is Smart Money Doing?" width="1220" height="686" src="https://www.youtube.com/embed/6hBFKhpEeHM?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
 </div> 
</figure>

Bitcoin News Today- BTC Price Awaits Bullish Breakout Amidst Growing Institutional Interest

Table of Contents

CoinPedia News

Other articles published on Jul 20, 2023

Société Générale Subsidiary Obtained France's First Crypto Services License

The AI Revolution: Solidus AI Tech Announces New High Performance Data Center

Netflix Price Prediction: NFLX Stock Price Showcasing Strength?

Las Vegas Sands Price Prediction: Will LVS Stock Price Fall?

A16z Exec Touts Promise of Web3 Social Platforms

Bitso Integrates Stellar’s Anchor Network to Enhance Global Payment Capabilities

Join our free newsletter for daily crypto updates!