<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-shows-resilience-against-market-bears/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Price Shows Resilience Against Market Bears</a><br></p>
<p style="text-align: justify">The cryptocurrency ecosystem continues to recover, and <strong><a href="https://en.coin-turk.com/bitcoin-signals-potential-recovery-in-the-short-term/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC)</strong> price has joined this long-awaited upward trend. According to the latest <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data</a>, Bitcoin’s spot price increased by 0.29% within 24 hours, moving at $69,485.93 with low volatility. Bitcoin price showed strong resistance by staying above the fundamental support level of $68,020 last week.</p>
<h2 id="critical-resistance-in-bitcoin">Critical Resistance in Bitcoin</h2>
<p style="text-align: justify">Despite the actions of the bears in the <a href="https://finance.coin-turk.com/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">market</a>, Bitcoin is indicated to be ready for a significant rise. According to different analysts’ predictions, the cryptocurrency might plan an exit with a move that will set $70,000 as the first significant resistance point to watch.</p>
<p style="text-align: justify">When Bitcoin price first surpassed the $70,000 mark, the cryptocurrency reached an all-time high of $73,750.07. At the current price level, <strong>Bitcoin</strong> is approximately 5.8% below this ATH, and many predictions suggest that <strong>BTC</strong> will surpass this level shortly. Over the past month, Bitcoin price increased by 2.11%, reaching up to $71,946.46. This level places the $71,000 level as a very important point to watch. According to cryptocurrency experts, the $71,000 price level is a crucial turning point for Bitcoin. If the leading cryptocurrency’s price surpasses the bear pressure at $70,000 and $71,000, there might not be significant resistance to prevent it from exceeding the previous all-time high.</p>
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-360645 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/btc-8.jpg" alt="" width="1323" height="610"></p>
<h2 id="prediction-of-700-000-for-btc">Prediction of $700,000 for BTC</h2>
<p style="text-align: justify"><strong>Despite the noticeable declines in the cryptocurrency</strong> price over the past few days, the profitability of BTC addresses remains at 94.9%. This indicates lower selling pressure from old holders. All these data might have prepared Bitcoin for a restart, completed by reading the relative strength index (RSI) at 44.1. It may also indicate a slight oversold condition, a potential sign of a trend change.</p>
<p style="text-align: justify">Bitcoin is in a different position for an upward trend. Experts attribute this to the spot Bitcoin <strong>ETF</strong> products acquiring more BTC holdings from exchanges than expected, making their metrics stronger than ever. With the 19-day net inflow series recorded up to the current position, supported by the supply shortage in the last half, the spot Bitcoin ETF has created a favorable environment for price recovery soon. According to leading industry expert Anthony Scaramucci, Bitcoin could rise to $700,000 in the long term. Different analyst predictions fix the cryptocurrency’s price at $100,000 before the end of this year.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-price-shows-resilience-against-market-bears/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Price Shows Resilience Against Market Bears</a></h5>

Bitcoin Price Shows Resilience Against Market Bears

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