Rally

Candle

Chair

Bitcoin

Kevin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-surges-above-70000-as-traders-rally/" data-wpel-link="internal">Bitcoin Surges Above $70,000 as Traders Rally</a> 
<a href="https://coin-turk.com/elon-musk-yine-bitcoin-hakkinda-konustu-btc-fiyati-etkilendi-mi" data-wpel-link="internal">Bitcoin</a>, following the daily close on March 29, surpassed the $70,000 level in the final hours of the last trading day of the first quarter due to strong buying pressure from traders. 
<h2 style="text-align: justify" id="fed-chair-powell-and-his-views">Fed Chair Powell and His Views</h2> 
The $69,000 level served as a temporary <a href="https://en.coin-turk.com/bitcoin-rises-with-institutional-demand/" data-wpel-link="internal">BTC</a> support throughout the weekend. Later in the last trading day of the week, significant announcements also impacted <a href="https://en.coin-turk.com/investors-to-shift-traditional-bond-investments-to-bitcoin-says-bloomberg-analyst/" data-wpel-link="internal">Bitcoin</a>‘s price. It was observed that, with the support of comments made by the Chairman of the Federal Reserve of the United States, Jerome Powell, there was an approximate $1,000 increase. 
Speaking at the Macroeconomics and Monetary Policy Conference in San Francisco, California, Powell continued to maintain a cool-headed stance on both inflation and the economic outlook. Powell indicated that the Fed will not rush to implement interest rate cuts, which hold significant importance for risky assets. 
<blockquote> 
 “Growth is currently strong, the labor market is currently strong, and inflation is falling. We can be, and we will be, patient with this decision – because we can be.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-335362" src="https://coin-turk.com/wp-content/uploads/2024/03/karar-hakkinda-dikkat-coin-turk-com.jpg" alt="" width="471" height="233"> 
According to data from CME Group’s FedWatch tool, expectations for a 0.25% rate cut at the upcoming Federal Open Market Committee (FOMC) meeting reached a 61% probability. June is currently highlighted as the first month when a potential rate cut is being discussed in the markets. 
<h2 style="text-align: justify" id="btc-price-analysis">BTC Price Analysis</h2> 
When considering potential next BTC price levels and obstacles, attention is turned to weekly, monthly, and quarterly candlestick closings. 
For popular crypto world trader and analyst Rekt Capital, the $69,000 level is as significant as ever. A close above this level would result in Bitcoin’s highest close to date. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-335363" src="https://coin-turk.com/wp-content/uploads/2024/03/rekt-coin-turk-com.jpg" alt="" width="1794" height="1266"> 
In a price prediction shared by Rektcapital on platform X, the following statement was made: 
<blockquote> 
 “BTC will continue to whip and zig-zag within this Weekly Range until the Weekly Candle Close. A Weekly Candle Close above the All-Time High of ~$69,000 will bring Bitcoin closer to a breakout. Anything else is consolidation.” 
</blockquote> 
Other analysts focused on positive on-chain data, and trader Kevin Svenson highlighted the Moving Average Convergence Divergence (MACD) oscillator on daily timeframes. 
In a chart shared by Kevin on platform X, he described the MACD as “positioned for a cross” and noted that such an event could coincide with a potential BTC price breakout beyond the all-time high levels near $74,000. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-335365 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/kevin-coin-turk-com.jpg" alt="" width="466" height="691"> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-surges-above-70000-as-traders-rally/" data-wpel-link="internal">Bitcoin Surges Above $70,000 as Traders Rally</a></h5>

Bitcoin Surges Above $70,000 as Traders Rally

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