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<p>The post <a href="https://coinpedia.org/news/bitcoin-price-rebound-halving-hype-or-institutional-influence/">Bitcoin Price Rebound: Halving Hype or Institutional Influence?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p><a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin’s (BTC) price </a>has shown early signs of recovering the crucial support level above $67,000 following Tuesday’s rebound. According to the latest market data, Bitcoin price edged 2 percent higher in the past 24 hours to trade around $66,300 on Tuesday during the early London session.</p> 
<p>The flagship coin absorbed significant selling pressure from Grayscale’s GBTC, ARK 21Shares <a href="https://markets.coinpedia.org/bitcoin-etf/">Bitcoin ETF </a>(ARKB), and the US government.&nbsp;</p> 
<p>According to spot BTC ETFs’ daily flow, GBTC and ARKB recorded an outflow of $82 million and $88 million, respectively on Monday.</p> 
<p>Meanwhile, the United States government deposited more than $30k Bitcoins, worth around $2 billion, to Coinbase.</p> 
<p>Did You Know : <a href="https://coinpedia.org/news/fixed-float-exploited-for-2-8-million-tether-freezes-hacker-addresses/">Fixed Float Exploited for $2.8 Million, Tether Freezes Hacker Addresses</a></p> 
<h2 class="wp-block-heading" id="h-midterm-bitcoin-price-prediction-nbsp">Midterm Bitcoin Price Prediction&nbsp;</h2> 
<p>The fourth <a href="https://coinpedia.org/news/bitcoin-halving-in-19-days-heres-the-best-investment-strategy-for-the-next-6-12-months/">Bitcoin halving</a> is about seventeen days from happening, historically triggering the onset of the macro crypto bull run. However, Bitcoin price had already set a record high before the halving event, thus indicating a possible super-cycle ahead fueled by institutional investors.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> Bulls are defending the 4h EMA200 (65.6k) &amp; Bullish pennant also in Play. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Bitcoin Bulls need to Reclaim the 70k Crucial Resistance to Regain the Bullish Momentum. <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> <a href="https://t.co/K20FzyO15X">pic.twitter.com/K20FzyO15X</a></p>— Captain Faibik (@CryptoFaibik) <a href="https://twitter.com/CryptoFaibik/status/1775377116202213778?ref_src=twsrc%5Etfw">April 3, 2024</a>
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<p>According to a Bitcoin price analysis conducted by a popular crypto analyst alias Captain Faibik, the flagship coin has been forming a bullish pennant in the four-hour time frame. As a result, the crypto analyst highlighted that Bitcoin price must reclaim the support level above $70,000 to regain the bullish momentum.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> broke an important support level for this cycle at $69,000 from a lower top. In addition, the "3-Days Down" rule from the major ATH is still in play.<br><br>These signals suggest further sideways chop or possible downside—usually longer than the late top buyers can handle.… <a href="https://t.co/vs1xUGEvws">pic.twitter.com/vs1xUGEvws</a></p>— Jason Pizzino 
   <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f31e.png" alt="🌞" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@jasonpizzino) <a href="https://twitter.com/jasonpizzino/status/1775354751762436239?ref_src=twsrc%5Etfw">April 3, 2024</a>
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<p>A popular technical analyst, Jason Pizzino, issued a similar outlook who noted that Bitcoin price is currently catching a breather before continuing with the bullish momentum. Notably, Pizzino argued that the macro bullish continuation remains strong as long as Bitcoin’s price does not fall below $48k.</p> 
<p>Also Check Out The : <a href="https://coinpedia.org/news/is-now-the-right-time-to-invest-in-bitcoin/">Is Now the Right Time to Invest in Bitcoin?</a></p>

Bitcoin Price Rebound: Halving Hype or Institutional Influence?

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