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<p>The post <a rel="nofollow" href="https://coinpedia.org/price-analysis/bitcoin-price-analysis-will-btc-price-recover-or-descend-below-25k/">Bitcoin Price Analysis: Will BTC Price Recover or Descend Below $25k?</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Bitcoin (BTC) is currently teetering on the edge of a crucial price point, with recent data from crypto price oracles like TradingView and Coingecko showing a gradual decline in its value. Over the past two days, Bitcoin has slipped below the critical support level of $25.8k. </p> 
<p>This concerning trend suggests the impending formation of a daily death cross in the coming weeks, potentially pushing the leading cryptocurrency below the $25k mark. However, there remains a glimmer of hope for a sudden reversal in Bitcoin’s price trajectory, pending approval from the United States Securities and Exchange Commission (SEC) for any of the pending spot ETF applications.</p> 
<h2 id="bitcoins-on-chain-analysis" data-name="bitcoins-on-chain-analysis" class="wp-block-heading">Bitcoin’s On-Chain Analysis</h2> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> isn't out of the woods yet! <br><br>Historical data shows that over the past decade, <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> ignites a bull run each time it surpasses the average cost basis of holders with a 6-month to 3-year track record.<br><br>As of now, that pivotal breakout level for <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> stands at $33,755… <a href="https://t.co/uaGJYibVuL">pic.twitter.com/uaGJYibVuL</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1698938723654594596?ref_src=twsrc%5Etfw">September 5, 2023</a>
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<p>According to Ali Charts, a well-regarded crypto analyst based in the United States, Bitcoin’s path ahead is not entirely free from challenges. Ali Charts argues that historically, Bitcoin tends to embark on a macro bull run when it surpasses the average cost basis of holders with a 6-month to 3-year track record. Remarkably, the average cost basis for such holders stands at approximately $33,755, representing a 31 percent increase over the current Bitcoin price.</p> 
<p>Analyzing the situation further, <a href="https://youtu.be/KuyHEoNfQBA?si=p6edYtsHziAWXfUH">Crypto Rover’s analyst</a>, Daan, emphasizes the critical importance of Bitcoin maintaining support above the $25.6k range to set the stage for a potential rally beyond $27.8k in the weeks ahead. Daan also points out that bullish sentiment remains strong, underpinned by a rising divergence observed on the daily Relative Strength Index (RSI) alongside a declining price.</p> 
<p>The crypto market continues to be a dynamic and evolving space, with Bitcoin’s future hinging on a delicate balance between technical factors and regulatory developments. Traders and enthusiasts will be closely monitoring these developments as they await further clarity on Bitcoin’s price trajectory.</p>

Bitcoin Price Analysis: Will BTC Price Recover or Descend Below $25k?

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