Bitcoin

DeFi

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoins-resilience-leads-market-as-whale-holdings-signal-bullish-trend" rel="noopener noreferrer nofollow">Bitcoin’s Resilience Leads Market as Whale Holdings Signal Bullish Trend</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoins-steady-trajectory-hints-at-bullish-breakout" rel="noopener noreferrer nofollow">Bitcoin</a> continues to hold its ground, with values nearing the $70,000 mark, reflecting investors’ reluctance to cash out and a potential for further growth. The <a href="https://en.bitcoinhaber.net/insights-into-the-cryptocurrency-markets-latest-dynamics" rel="noopener noreferrer nofollow">cryptocurrency</a>‘s strength is evidenced by the increasing number of Bitcoin whales, with unique addresses containing over 1,000 bitcoins climbing to 2,104 by March 7, suggesting expectations of sustained upward momentum.</p>
<h2 id="market-sentiment-lifted-by-bitcoin-s-performance">Market Sentiment Lifted by Bitcoin’s Performance</h2>
<p style="text-align: justify">The positive trend in Bitcoin has reverberated throughout the crypto market, uplifting overall sentiment. DefiLlama’s blockchain analysis highlights that the collective value in DeFi platforms has exceeded $100 billion, marking a significant milestone in nearly two years, though still below the November 2021 peak of $189 billion. This surge presents a mixed outlook as investors, emboldened during bull markets, may overlook the risks, as cautioned by Bitwise’s Chief Investment Officer Matt Hougan who advises vigilance against overvalued poor-quality projects.</p>
<h2 id="technical-indicators-suggest-a-bullish-continuation">Technical Indicators Suggest a Bullish Continuation</h2>
<p style="text-align: justify">Even as Bitcoin approaches the substantial $70,000 resistance, the bull market’s determination appears unwavering with consistent purchasing on price dips. A successful breach of this threshold could propel the BTC/<a href="https://en.bitcoinhaber.net/tether-treasury-expands-liquidity-with-1-billion-usdt-injection" rel="noopener noreferrer nofollow">USDT</a> pair towards $76,000, and potentially even $80,000, barring minor resistance. However, should bears forcefully sell, the price may retreat below the 20-day EMA of $61,422, triggering a possible correction towards the 50-day SMA of $51,197.</p>
<p style="text-align: justify">The market’s technicals, inclusive of upward trends in both moving averages and a favorable RSI, demonstrate the bulls’ current market dominance. Their strategy involves acquiring assets on any price retracements, maintaining levels above the 20-day EMA. A close above $70,000 would signify readiness for the next phase of the uptrend, while a drop below the EMA may signal a bearish turn with potential declines to the 50-day SMA and possibly down to $59,000 if that support fails.</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-resilience-leads-market-as-whale-holdings-signal-bullish-trend" rel="noopener noreferrer nofollow">Bitcoin’s Resilience Leads Market as Whale Holdings Signal Bullish Trend</a></h5>

Bitcoin’s Resilience Leads Market as Whale Holdings Signal Bullish Trend

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