Stablecoin

Bitcoin

James

Status

Gains

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoins-resurgence-and-prospects-for-further-gains">Bitcoin’s Resurgence and Prospects for Further Gains</a><br></p>
<p style="text-align: justify">After a significant price drop, <a href="https://en.bitcoinhaber.net/bitcoin-advocate-samson-mow-predicts-bitcoin-could-reach-1-million">Bitcoin</a> has made a strong comeback, surpassing the $42,000 mark on January 26, following a dip below $39,000 earlier in the week. Crypto analyst James Van Straten has expressed optimism for the short-term future of the leading cryptocurrency’s price.</p> 
<h2 id="bitcoin-s-potential-climb-to-49-000">Bitcoin’s Potential Climb to $49,000</h2> 
<p style="text-align: justify">James Van Straten suggests that Bitcoin could reach $49,000 for the second time following the approval of the U.S.’s first spot ETF. He credits a mild rotation of stablecoins for the recent rally that pushed Bitcoin above $42,000 on January 26 and believes this rotation will continue to propel the price upward.</p> 
<p style="text-align: justify">The analyst also points out that inflows from spot Bitcoin ETFs will play a significant role in Bitcoin’s recovery. According to CryptoQuant, the Bitcoin Stablecoin Supply Ratio (SSR) indicated a potential buying pressure on January 25, which could have triggered the rise.</p> 
<h2 id="current-bitcoin-price-status">Current Bitcoin Price Status</h2> 
<p style="text-align: justify">Despite crossing the $42,000 threshold on January 26, Bitcoin has not managed to maintain this level, with its daily gains falling below 3%. At the time of writing, Bitcoin is trading at $41,747, reflecting a 2.42% increase, with a market capitalization of $818.73 billion and a 14.74% increase in the 24-hour trading volume to $23 billion.</p> 
<p style="text-align: justify">However, the price of Bitcoin is still well below its previous day’s high of $42,209. Meanwhile, TradingView’s moving averages data currently indicates a ‘buy’ signal for Bitcoin, as its price is trading above its 10-day and 50-day EMAs, suggesting an upward trend.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoins-resurgence-and-prospects-for-further-gains">Bitcoin’s Resurgence and Prospects for Further Gains</a></h5>

Bitcoin’s Resurgence and Prospects for Further Gains

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