Bitcoin

<ul><li>Bitcoin faces a bearish trend amidst global geopolitical turbulence, losing 3% in a Week.</li><li>Analysts stress the crucial role of the $28,233 mark in igniting Bitcoin&#39;s Bull Run, citing the warm supply indicator.</li><li>Crypto Tony&#39;s argument against over-optimism stresses CPI&#39;s significance in the current market landscape.</li></ul>In the ever-volatile world of cryptocurrencies, Bitcoin (BTC) navigates choppy waters as global geopolitical tensions send shockwaves through the financial markets. Bitcoin has encountered a bearish <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">sentiment</a>, losing nearly 3% over the past week. Yet, a glimmer of hope for a potential rally persists.Renowned crypto analyst Ali Martinez shared his insights in X post that the key to rekindling the dormant bull run lies in Bitcoin&#39;s ability to secure a sustained close above the $28,233 mark. This realization stems from the <a href="https://cryptotale.org/bitcoin-faces-critical-crossroads-analyst-warns-of-consolidation-zone/" rel="noopener noreferrer nofollow">warm supply indicator</a>, a metric that analyzes the less active component of short-term holder supply and the associated realized price. The average price is weighted by the supply at which market participants acquire digital assets.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/f5de24621c9e4b9c9742198a72d73362.png" />Crucially, the warm supply realized price for Bitcoin stands at $28,233. It signifies the pivotal level at which the premier decentralized finance (DeFi) asset must conclude to pave the way for another potential bullish surge.Meanwhile, distinguished crypto trader and analyst Crypto Tony weighed in on the situation. He emphasized the importance of monitoring the Consumer Price Index (CPI) in today&#39;s market landscape. Crypto Tony <a href="https://cryptotale.org/analyst-predicts-bitcoins-downward-spiral-and-altcoin-trajectories/" rel="noopener noreferrer nofollow">cautioned</a> against an overly optimistic outlook, expressing his short position.Read full article at<a href="https://cryptotale.org/crypto-analyst-sets-key-target-for-bitcoins-bull-run-revival/" rel="noopener noreferrer nofollow"> CryptoTale.</a>

Crypto Analyst Sets Key Target for Bitcoin's Bull Run Revival

CryptoTale

Other articles published on Oct 12, 2023

Circle admitted by judge as amicus curiae in SEC vs. Binance lawsuit: Report

SEC May Approve All Spot Bitcoin ETFs by Friday: Here’s Why

The US Has Lost Its Way in Digital Assets Regulation: Lawyer

Blur (BLUR) Price Prediction 2024, 2025, 2030, 2040, and 2050

The Impact of US Inflation Data on the Crypto Market: What Are the Possible Scenarios for Bitcoin?

NEE Stock: Can (NYSE: NEE) Surpass Above Previous Swing High?

Join our free newsletter for daily crypto updates!