2024

Bitcoin

April

Green

The Bitcoin price soared almost 5% in the last 24 hours to blast through $72,016 as of 05:01 a.m. EST time on trading volume that surged 25%.
Among the signs that bulls are coming back is a recent post by Glassnode that shows nearly 1.876 million BTC tokens, comprising 9.5% of the total supply, have been acquired above $60,000.
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 JUST IN: On-chain data from GlassNode reveals that approximately 1.876 million Bitcoin, or 9.5% of the total supply, have been acquired above $60,000. <a href="https://t.co/O2uIq7kORe" rel="noopener noreferrer nofollow">pic.twitter.com/O2uIq7kORe</a>
 — Bitcoin News (@BitcoinNewsCom) <a href="https://twitter.com/BitcoinNewsCom/status/1776656112630059119?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 6, 2024</a>
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Meanwhile, Coinglass data shows that the recent surge in the Bitcoin price has seen nearly $82.3 million in long and short positions blown out of the water.
<a href="https://insidebitcoins.com/wp-content/uploads/2024/04/3.png" rel="noopener noreferrer nofollow"><img decoding="async" class="aligncenter wp-image-503027 size-full" src="https://insidebitcoins.com/wp-content/uploads/2024/04/3.png" alt="BTC liquidations" width="1339" height="387" srcset="https://insidebitcoins.com/wp-content/uploads/2024/04/3.png 1339w, https://insidebitcoins.com/wp-content/uploads/2024/04/3-300x87.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/04/3-1024x296.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/04/3-768x222.png 768w" sizes="(max-width: 1339px) 100vw, 1339px"></a>
<a href="https://www.coinglass.com/currencies/BTC" target="_blank" rel="noopener noreferrer nofollow">BTC liquidations</a>
Skybridge Capital’s Anthony Scaramucci says he sees the Bitcoin price at $170,000. The entrepreneur bases his forecast on the assumption that the much-awaited BTC halving, expected on April 20, is not yet priced in.
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 NEW: Skybridge’s Anthony Scaramucci says <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> halving is still not priced in.
 Predicts “$170000 for this cycle.” 🚀 <a href="https://t.co/0uE4EAmwgS" rel="noopener noreferrer nofollow">pic.twitter.com/0uE4EAmwgS</a>
 — Bitcoin Magazine (@BitcoinMagazine) <a href="https://twitter.com/BitcoinMagazine/status/1777256546390442107?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 8, 2024</a>
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Meanwhile, some analysts are optimistic about the growing dominance in BTC ahead of the halving.
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 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> dominance continues to peak pre-halving, but there's still a lot of momentum to be gained to altcoins.
 They are super undervalued.
 — Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1777271918934348169?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 8, 2024</a>
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According to CryptoQuant founder and CEO Ki Young Ju, the Bitcoin price and market in general is giving similar vibes as those seen in the pre-halving season of 2020.
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 Same vibe as the previous <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> halving. <a href="https://t.co/Iez8vXkPvw" rel="noopener noreferrer nofollow">https://t.co/Iez8vXkPvw</a>
 — Ki Young Ju (@ki_young_ju) <a href="https://twitter.com/ki_young_ju/status/1777258622277574969?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 8, 2024</a>
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The Bitcoin halving is expected in 12 days, with the latest move likely marking the onset of a pre-halving rally.
<h2 id="bitcoin-price-outlook-as-btc-smashes-past-72-000-in-pre-halving-rally">Bitcoin Price Outlook As BTC Smashes Past $72,000 In Pre-Halving Rally</h2>
The Bitcoin price is holding above the $69,000 threshold, a critical level that longs must watch. If the price closes above this level on the weekly timeframe, it could confirm the continuation of the trend.
The first move in such a directional bias would be to clear the all-time high of $73,777 before a foray above $74,000 or $75,000.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> BREAKING OUT ?💥🚀<a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> could surprise us once again and go for scenario 2.
 Let's wait for the daily candle close and the following one for confirmation.
 For hose who want to trade the breakout already, a tight stop loss is required.
 Manage your risk properly. 🤝 <a href="https://t.co/fN5yPj1UEo" rel="noopener noreferrer nofollow">pic.twitter.com/fN5yPj1UEo</a>
 — Titan of Crypto (@Washigorira) <a href="https://twitter.com/Washigorira/status/1777261413439860961?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 8, 2024</a>
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The market appears to be poised for new highs, now that leverage is already washed out. Technical indicators are also flashing bullish, starting with the Moving Average Convergence Divergence (MACD), which is well above the orange band of its signal line.
This, coupled with the MACD histogram bars in positive territory suggests a strengthening bullish cycle.
Furthermore, the Relative Strength Index (RSI) is still northbound, to show rising momentum. Another momentum indicator that is leaning in favor of the upside is the Awesome Oscillator (AO), standing well above the zero mean level.
Traders looking to open new long positions for the Bitcoin price should consider waiting for confirmation. This will come by way of a candlestick close above $69,000. It is also advisable that traders avoid succumbing to FOMO, the fear of missing out, amid risk of a correction seeing as there is a CME gap that remains unfilled.
This could be a reversal zone.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> Has opened up with a new CME gap today. 👀
 There's still one open from 2 weeks ago which only got closed about half way before price bounced again.
 Like I always say, these can be good to watch for reversal zones etc, but don't value them too much the moment price… <a href="https://t.co/vvDlrWp536" rel="noopener noreferrer nofollow">pic.twitter.com/vvDlrWp536</a>
 — Daan Crypto Trades (@DaanCrypto) <a href="https://twitter.com/DaanCrypto/status/1777236461697335424?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 8, 2024</a>
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Nevertheless, the fact that the Bitcoin price is enjoying support due to the 200-day Exponential Moving Average (EMA) is a good sign that the market is bullish both in the short and long term.
<a href="https://insidebitcoins.com/wp-content/uploads/2024/04/BTCUSDT_2024-04-08_11-59-18.png" rel="noopener noreferrer nofollow"><img decoding="async" class="aligncenter wp-image-503039 size-full" src="https://insidebitcoins.com/wp-content/uploads/2024/04/BTCUSDT_2024-04-08_11-59-18.png" alt="BTC" width="1273" height="510" srcset="https://insidebitcoins.com/wp-content/uploads/2024/04/BTCUSDT_2024-04-08_11-59-18.png 1273w, https://insidebitcoins.com/wp-content/uploads/2024/04/BTCUSDT_2024-04-08_11-59-18-300x120.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/04/BTCUSDT_2024-04-08_11-59-18-1024x410.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/04/BTCUSDT_2024-04-08_11-59-18-768x308.png 768w" sizes="(max-width: 1273px) 100vw, 1273px"></a>
<a href="https://www.tradingview.com/x/nseX1wkp/" target="_blank" rel="noopener noreferrer nofollow">TradingView: BTC/USDT 1-week chart</a>
<h4>Converse Case</h4>
On the other hand, if the BTC holders start to cash in on the gains, the Bitcoin price could retract. A slip below $69,000 would spook the weak hands as part of a broader market shake out. However, confirmation of a continued downtrend would be the Bitcoin price slipping below the mean threshold of $61,947, marking the midline of the supply zone between $58,375 and $65,518.
<h2 id="on-chain-metrics-to-support-bullish-outlook-for-the-bitcoin-price">On-chain Metrics To Support Bullish Outlook For The Bitcoin Price</h2>
Based on the Global In/Out of the Money (GIOM) metric, the odds favor the upside, seeing as there is no seller congestion levels in the chart below. Immediate support is found between $68,120 to $71,060, where nearly 1.85 million addresses hold 1.15 million BTC tokens purchased at an average price of $69,520.
<a href="https://insidebitcoins.com/wp-content/uploads/2024/04/BTC-GIOM.png" rel="noopener noreferrer nofollow"><img decoding="async" class="aligncenter wp-image-503044 size-full" src="https://insidebitcoins.com/wp-content/uploads/2024/04/BTC-GIOM.png" alt="BTC GIOM" width="1155" height="376" srcset="https://insidebitcoins.com/wp-content/uploads/2024/04/BTC-GIOM.png 1155w, https://insidebitcoins.com/wp-content/uploads/2024/04/BTC-GIOM-300x98.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/04/BTC-GIOM-1024x333.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/04/BTC-GIOM-768x250.png 768w" sizes="(max-width: 1155px) 100vw, 1155px"></a>
<a href="https://app.intotheblock.com/coin/BTC/deep-dive?group=financials&amp;chart=inAndOut" target="_blank" rel="noopener noreferrer nofollow">BTC GIOM</a>
Elsewhere, the In/Out of the Money Around Price (IOMAP) metric shows stronger support downward compared to overhead pressure.
<a href="https://insidebitcoins.com/wp-content/uploads/2024/04/BTC-IOMAP.png" rel="noopener noreferrer nofollow"><img decoding="async" class="aligncenter wp-image-503046 size-full" src="https://insidebitcoins.com/wp-content/uploads/2024/04/BTC-IOMAP.png" alt="BTC IOMAP" width="1165" height="402" srcset="https://insidebitcoins.com/wp-content/uploads/2024/04/BTC-IOMAP.png 1165w, https://insidebitcoins.com/wp-content/uploads/2024/04/BTC-IOMAP-300x104.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/04/BTC-IOMAP-1024x353.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/04/BTC-IOMAP-768x265.png 768w" sizes="(max-width: 1165px) 100vw, 1165px"></a>
<a href="https://app.intotheblock.com/coin/BTC/deep-dive?group=financials&amp;chart=inAndOut" target="_blank" rel="noopener noreferrer nofollow">BTC IOMAP</a>
With this, and as shown above, the percentage of BTC holders sitting on unrealized profit is 99.53% (in the money). This is against the abysmal 0.44% sitting on unrealized losses (out of the money) and a negligible 0.03% that are breaking even (at the money).
Meanwhile, amid anticipation of the Bitcoin halving, derivative BTC presale Bitcoin Minetrix is closing in on $13 million in sales as it transforms the Bitcoin mining game.
<iframe title="BTC MTX is changing the CRYPTO MINING GAME!!!" width="640" height="360" src="https://www.youtube.com/embed/hxjn585A2Qg?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
<h2 id="promising-alternative-to-bitcoin">Promising Alternative To Bitcoin</h2>
BTCMTX is the ticker for the <a href="https://insidebitcoins.com/visit/bitcoinminetrix" rel="noopener noreferrer nofollow">Bitcoin Minetrix</a> ecosystem. Token holders stake their holdings for credits and then redeem these credits for mining hash power. In so doing, the project spares you from the hassles that come with traditional mining, lowering the bar by eliminating the risk of fraud, and the challenges of heat, noise, space and costs.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Exploring <a href="https://twitter.com/hashtag/BitcoinMining?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BitcoinMining</a>, where giants like <a href="https://twitter.com/RiotPlatforms?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@RiotPlatforms</a> and <a href="https://twitter.com/MarathonDH?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@MarathonDH</a> lead.
 Transforming mining, ensuring safety, and offering easy access to <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a>. 🚀💰
 Through cloud mining and staking, we empower users to take charge of their mining journey. 🔐 <a href="https://t.co/kmyPF5pMJk" rel="noopener noreferrer nofollow">pic.twitter.com/kmyPF5pMJk</a>
 — Bitcoinminetrix (@bitcoinminetrix) <a href="https://twitter.com/bitcoinminetrix/status/1777245038440813006?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 8, 2024</a>
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Buy into the Bitcoin Minetrix ecosystem for a chance to get in on the BTC halving rally ahead of time. With such an easy pathway to Bitcoin mining and therefore BTC ownership, the landscape has never been this even, with a playing field where the wealthy and the ordinary folk both have a fair chances of getting in on the action.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/hashtag/BitcoinMinetrix?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BitcoinMinetrix</a> revitalizes the landscape of cloud mining by merging stakeholding and cloud mining.
 Pioneering tokenized cloud mining focusing on transparency, autonomy, and security, <a href="https://twitter.com/hashtag/BTCMTX?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTCMTX</a> is dedicated to providing a reliable pathway for <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> mining enthusiasts. 🌐⚒️ <a href="https://t.co/Mrxv0Hnrst" rel="noopener noreferrer nofollow">pic.twitter.com/Mrxv0Hnrst</a>
 — Bitcoinminetrix (@bitcoinminetrix) <a href="https://twitter.com/bitcoinminetrix/status/1749356290420203535?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 22, 2024</a>
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For entry into the Bitcoin Minetrix ecosystem, investors must <a href="https://insidebitcoins.com/news/how-to-buy-bitcoin-minetrix-on-presale-alessandro-de-crypto-video-review" target="_blank" rel="noopener noreferrer nofollow">buy BTCMTX</a>, the project’s powering token. Ranked among <a href="https://www.linkedin.com/pulse/5-new-cryptocurrency-invest-2024-promising-1000x-calsona-0krue" rel="noopener noreferrer nofollow">prominent game-changes with 1000x potential</a>, its tokens currently sell for $0.0145.
But that price tag stands for less than another two days, so buy now if you are interested to secure the best deal.
<a href="https://insidebitcoins.com/visit/bitcoinminetrix" target="_blank" rel="noopener noreferrer nofollow">Visit Bitcoin Minetrix to buy BTCMTX here</a>.
<h3 id="strong-also-read-strong">Also Read:</h3>
<ul>
 <li><a href="https://insidebitcoins.com/news/how-to-buy-bitcoin-minetrix-on-presale-alessandro-de-crypto-video-review" rel="noopener noreferrer nofollow">How To Buy Bitcoin Minetrix On Presale – Alessandro De Crypto Video Review</a></li>
 <li><a href="https://insidebitcoins.com/news/bitcoin-minetrix-presale-has-just-hours-left-last-chance-to-buy-before-price-rise" rel="noopener noreferrer nofollow">Bitcoin Minetrix Presale Has Just Hours Left: Last Chance to Buy Before Price Rise</a></li>
 <li><a href="https://insidebitcoins.com/news/cilinix-crypto-presale-update-of-two-bitcoin-related-altcoin-bitcoin-minetrix-and-green-bitcoin" rel="noopener noreferrer nofollow">Cilinix Crypto Presale Update of Two Bitcoin-Related Altcoin – Bitcoin Minetrix and Green Bitcoin</a></li>
 <li><a href="https://insidebitcoins.com/news/top-3-crypto-presales-to-watch-for-potential-10x-15x-gains-bitcoin-minetrix-dogecoin20-and-green-bitcoin" rel="noopener noreferrer nofollow">Top 3 Crypto Presales to Watch for Potential 10x-15x Gains – Bitcoin Minetrix, Dogecoin20, and Green Bitcoin</a></li>
</ul>

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