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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-maintains-gains-and-whale-activity-suggests-continued-uptrend/" data-wpel-link="internal">Bitcoin Maintains Gains and Whale Activity Suggests Continued Uptrend</a> 
<a href="https://coin-turk.com/kripto-para-madenciligi-icin-beyaz-saray-dugmeye-basti" data-wpel-link="internal">Bitcoin</a> managed to preserve its gains this week, showing that investors are not in a rush to take profits even as the price approaches $70,000. The number of <a href="https://en.coin-turk.com/bitcoin-struggles-despite-potential-etf-approval-indicators/" data-wpel-link="internal">Bitcoin</a> whales, or unique addresses holding more than 1,000 bitcoins, has risen to 2,104 as of March 7, indicating their anticipation of a continued uptrend. 
<h2 class="p1" style="text-align: justify" id="bitcoin-and-cryptocurrency-market-overview">Bitcoin and Cryptocurrency Market Overview</h2> 
Bitcoin’s rally has boosted sentiment across the cryptocurrency sector. Data from blockchain analytics platform DefiLlama shows that the global total value locked (TVL) in decentralized finance (<a href="https://coin-turk.com/insanlik-icin-bir-firsat-bankalarin-defi-ile-savasi" data-wpel-link="internal">DeFi</a>) protocols has surpassed $100 billion for the first time in nearly two years. However, the TVL is still far below the record high of $189 billion reached in November 2021. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-325542 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/kripto-data.webp" alt="" width="1413" height="907"> 
During a bull market, investors may become less cautious, expecting prices to rise. However, this often does not end well. Bitwise Chief <a href="https://en.coin-turk.com/public-crypto-companies-outperform-bitcoin-in-recent-market-surge/" data-wpel-link="internal">Investment</a> Officer Matt Hougan has warned investors to be cautious, noting that terrible projects are trading at crazy valuations during such times. 
<h2 class="p1" style="text-align: justify" id="bitcoin-chart-analysis">Bitcoin Chart Analysis</h2> 
Bears are trying to halt Bitcoin’s rise around $70,000, but the bulls show no signs of giving up, which is a positive sign. This indicates that every dip is being bought. Bulls may try to push the price above $70,000 to maintain the uptrend. If they succeed, the <a href="https://en.coin-turk.com/bitcoin-price-uncertainty-continues-key-level-of-the-week-in-btc-chart/" data-wpel-link="internal">BTC</a>/<a href="https://coin-turk.com/bu-stablecoinler-en-buyuk-yatirimcilari-bile-solladi-hedefleri-neler" data-wpel-link="internal">USDT</a> pair could gain momentum and rise to $76,000. This level may act as a minor barrier, but if surpassed, the rally could extend up to $80,000. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-325543 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/btc-grafik-1.webp" alt="" width="1328" height="798"> 
If bears want to make a comeback in this area, they will need to sell aggressively and pull the price below the 20-day exponential moving average (EMA) of $61,422. This could trigger stop-losses for some short-term investors and initiate a deeper correction towards the 50-day simple moving average (SMA) of $51,197. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-325544 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/btc-4s.webp" alt="" width="1328" height="798"> 
Both moving averages are sloping upwards, and the relative strength index (RSI) on the 4-hour chart is in positive territory, indicating that bulls are in control. Buyers are signaling a buy on every dip by keeping the price above the EMA 20. A close above $70,000 could start the next leg of the uptrend. Conversely, if the price falls and drops below the EMA 20, the pair could decline to the SMA 50. A close below this support could be the first sign that bulls are heading for the exits. The pair could then fall to $59,000. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-maintains-gains-and-whale-activity-suggests-continued-uptrend/" data-wpel-link="internal">Bitcoin Maintains Gains and Whale Activity Suggests Continued Uptrend</a></h5>

Bitcoin Maintains Gains and Whale Activity Suggests Continued Uptrend

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