FOMO

Bitcoin

<p>The post <a href="https://coinpedia.org/price-analysis/will-bitcoin-btc-price-hit-50k-this-week-heres-what-to-expect/" rel="noopener noreferrer nofollow">Will Bitcoin (BTC) Price Hit $50K This Week? Here’s What To Expect</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>With a crash last week due to the Matrixport report highlighting low chances of ETF approvals, the BTC price touched the $42K mark. However, with a swift recovery, Bitcoin price returns to the critical overhead resistance at the $45K mark.&nbsp;</p>
<p>The ovenight recovery prolongs the sideways trend and challenges the overhead boundary with minimal spikes in the trading volume. Supporting our <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">BTC price prediction</a>, the streak of Doji candles bolsters the breakout thesis.</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/1nNMgVH5kYA-nxc8SHWK-esN74lDVmZJKt2MoXnfLEMaWiOJBeiCrGwRPn5vMTh-1_cusvdslf2iOi7xDqACJgu-MySIQH7dGHAOqZiObpK9TKKYFjiZXtzU5Pq0PRzVdMX2R_s5sfhXGxjoqqRwBlU" alt="">
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  Source – <a href="https://www.tradingview.com/x/bW0DnNfz/" rel="noopener noreferrer nofollow">Tradingview</a>
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<p>Currently, the BTC price trades at $43,924 with a long tail formation. In the daily chart, the recent bounce back from the highlighted support zone leads to another breakout attempt.</p>
<h2 class="wp-block-heading" id="h-whales-are-hoarding-bitcoin-before-etf-apporval">Whales Are Hoarding Bitcoin Before ETF Apporval</h2>
<p>Highly anticipated Bitcoin ETF decisions creates a cloud of FOMO in the market resulting in a buying spree even amongst whales.</p>
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   <p lang="en" dir="ltr">And the whale currently holds 4,750 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($207.4M). <a href="https://t.co/4CXNXErWz6" rel="noopener noreferrer nofollow">https://t.co/4CXNXErWz6</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1744204268700365289?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 8, 2024</a>
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<p>A savvy investor recently added 1,750 BTC ($76.9M) from Binance at an average price of $43,953, following their earlier acquisition of 6,000 BTC ($158.66M) at $26,444. The investor later deposited 3,000 BTC ($105.7M) back to Binance at $35,241, netting a $26.4M profit.</p>
<p>Coming back to the technical indicators, the moving averages give a strong buy signal with the recent the crossovers. Further, the MACD indicator remains in the positive territory but continues to declines as it fails to give a positive crossover.&nbsp;</p>
<h2 class="wp-block-heading" id="h-will-btc-price-bounce-to-50k">Will BTC Price Bounce To $50K?</h2>
<p>Despite the ongoing consolidation after the fall last week, the streak of Doji candles highlight an indecisive trend and projects a breakout rally possibility to $50K. Further, the increasing interest of whales as the ETF approval decision comes closer, increases the breakout chances.&nbsp;</p>
<p>In case, the growing demand and FOMO supports help Bitcoin regain momentum, the BTC price can reach the $50,000 milestone in January 2024. Conversely, a retest to the $42,000 mark is possible if the buyers fail to gve a breakout.&nbsp;</p>

Will Bitcoin (BTC) Price Hit $50K This Week? Here’s What To Expect

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