Bitcoin

James

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoins-steady-price-corridor-challenges-market-expectations">Bitcoin’s Steady Price Corridor Challenges Market Expectations</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/expert-predicts-bitcoins-parabolic-surge-similar-to-past-cycles">Bitcoin</a> has been consistently trading within a confined range, lingering for about 150 days in a $5,000 corridor. Analyst James Van Straten from CryptoSlate highlighted Bitcoin’s trading behavior, noting that it has not been able to maintain or create a significant price movement despite reaching two-year highs in 2024. The cryptocurrency fluctuated around the low $38,500 mark without establishing a firm trend.</p> 
<h2 id="stable-trading-zone-for-bitcoin">Stable Trading Zone for Bitcoin</h2> 
<p style="text-align: justify">The BTC/USD pair has been confined to a narrow trading band, with the daily closing price tightly sticking to this range for nearly half a year as of early February. Van Straten observes that Bitcoin operates within such price bands for durations ranging from 100 to 250 days, which is in line with past behaviors of the digital currency.</p> 
<h2 id="bitcoin-s-market-dynamics-and-predictions">Bitcoin’s Market Dynamics and Predictions</h2> 
<p style="text-align: justify">The introduction of spot Bitcoin ETFs did not lead to a notable upward price shift, causing a more subdued market outlook. As the halving event nears, which historically influences supply dynamics, the consensus is that any significant price surge may occur only after this event. Analyst Michaël van de Poppe predicts a short-term decline with a potential pre-halving rally, expecting Bitcoin to trade between $38,000 and $48,000.</p> 
<p style="text-align: justify">In the meantime, Bitcoin’s behavior is expected to remain within the familiar price levels. While the halving event is highly anticipated for its effects on the supply, ETF products are also making an impact by pulling assets out of the market at a rate much quicker than the creation of new supply, possibly hinting at future price movements once these combined factors play out.</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-steady-price-corridor-challenges-market-expectations">Bitcoin’s Steady Price Corridor Challenges Market Expectations</a></h5>

Bitcoin’s Steady Price Corridor Challenges Market Expectations

Table of Contents

BH NEWS

Other articles published on Feb 2, 2024

German DZ Bank Plans to Roll Out Bitcoin Trading Pilot This Year: Report

Whale Ini Rugi US$5,41 Juta dalam Transaksi Kripto AAVE, Kok Bisa?

With Blur Stabilizing, Is Rebel Satoshi Poised to Become the Next Breakout Star in the Crypto World?

OKX to delist WAVES to ‘to maintain a robust spot trading environment’

Bull Token Price Prediction: BULL Soars 99% As This New GameFi Star Rockets Past $8 Million

Decoding the Possibilities Of SEC Approving Ethereum ETF in 2024

Join our free newsletter for daily crypto updates!