Bitcoin ETF

Bitcoin

Bitcoin price rebounded from $67,000 to over $70,000 within just a few hours on Monday, triggering a broader crypto market recovery. While the global crypto market rebounded and Bitcoin price moved mostly sideways on Tuesday, trading volumes saw only a marginal increase as compared to trading volumes before the crash to below $61,000. 
CoinGape earlier reported massive bullish sentiment among <a href="https://coingape.com/bitcoin-traders-buying-calls-76k-btc-eth-options-expiry/" target="_blank" rel="noopener">derivatives traders</a> despite selloffs and anticipation of BTC price hitting a high of $76K before March end. 
<h2 id="is-this-recovery-signals-another-bitcoin-ath">Is This Recovery Signals Another Bitcoin ATH?</h2> 
Top analyst Markus Thielen, chief executive officer of <a rel="nofollow" href="https://mail.10xresearch.co/p/bitcoin-inflows-set-skyrocket-week-2662" target="_blank">10x Research</a>, in a new report greenlights Bitcoin and Ethereum buying to investors, turning bullish from bearish. BTC price rallied more than 6% due to renewed optimism. He is one of the first few analysts who accurately predicted the recent crash below $63K. 
He added that three indicators are bullish on BTC price reversal but it will nullify if Bitcoin trades below $68,000 due to market volatility before month’s end. Historically, Bitcoin has witnessed a 315% rally in 2012-2013, over 100% in 2016-2017, and 129% in 2020-2021. If a triple-digit rally is valid in this Bitcoin halving, BTC price will reach $140,000. 
Moreover, the formation of an inverted head-and-shoulders pattern and break above $68,330 signal a move above $73,000. 
“We would have preferred for Bitcoin to consolidate a few more days, as this would have allowed our reversal indicators to hit screaming buy levels. Still, we suspected Bitcoin would start the week with an aggressive rally – as we enter the end of the quarter,” said Thielen. 
<h2 id="bitcoin-etf-inflow-continuation">Bitcoin ETF Inflow Continuation</h2> 
Markus Thielen also predicted a return in inflow to spot Bitcoin ETFs and a strong BTC price rally above the psychological level of $70,000. However, he warned that the real test will be on Thursday and Friday as these mark the end of the quarter. 
Nine <a href="https://coingape.com/bitcoin-etf-inflows-turn-positive-again-fidelity-outpaces-blackrock/" target="_blank" rel="noopener">spot Bitcoin ETFs</a> have once more registered net positive inflows on Monday. Fidelity Bitcoin ETF (FBTC) saw a $261 million inflow, surpassing BlackRock Bitcoin ETF (IBIT) inflow of $35 million. Also, outflows from the&nbsp;Grayscale Bitcoin ETF GBTC have remained strong at $350 million. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
 CME <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> open interest hit a record high of $11.71 billion. 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f449.png" alt="👉" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://t.co/b1RbJ1A35P">https://t.co/b1RbJ1A35P</a> <a href="https://t.co/eNFD8QamQC">pic.twitter.com/eNFD8QamQC</a> 
 — CoinGlass (@coinglass_com) <a href="https://twitter.com/coinglass_com/status/1772497461472592345?ref_src=twsrc%5Etfw">March 26, 2024</a>
</blockquote> 
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<h2 id="btc-price-breaking-above-key-levels">BTC Price Breaking Above Key Levels</h2> 
Analyst Ali Martinez in a new post on X predicted that BTC price can rally above as it breaks out of an ascending triangle on the lower time frames. As long as the $70,400 support holds, BTC price can hit $71,800. 
<img decoding="async" class="aligncenter" src="https://pbs.twimg.com/media/GJlCEpkWcAA_eog?format=jpg&amp;name=4096x4096" alt="Image" width="754" height="514"> 
<a href="https://coingape.com/price/bitcoin" target="_blank" rel="noopener">BTC price</a> jumped 6% in the last 24 hours, with the price currently trading at $71,083. The 24-hour low and high are $66,795 and $71,535, respectively. Furthermore, the trading volume has increased by 50%, indicating a rise in interest among traders. 
Also Read: <a title="Breaking: SEC Asks Judge Torres for Final Judgment in Ripple XRP Lawsuit" href="https://coingape.com/sec-ask-judge-torres-for-final-judgment-in-ripple-xrp-lawsuit/" target="_blank" rel="bookmark noopener">SEC Asks Judge Torres for Final Judgment in Ripple XRP Lawsuit</a> 
The post <a href="https://coingape.com/bitcoin-btc-price-now-set-140k-says-top-analyst-who-predicted-crash/">Bitcoin (BTC) Price Now Set to Reach $140K, Says Top Analyst Who Predicted Crash</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Bitcoin (BTC) Price Now Set to Reach $140K, Says Top Analyst Who Predicted Crash

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