Bitcoin

Rekt

Coin

<p>Crypto analyst Rekt Capital has shared <a href="https://youtu.be/rXwCEi38q50?si=2WIxSU7wZUp_oxBq" target="_blank" rel="noopener noreferrer nofollow">insights on Bitcoin’s price action</a> using the Pi Cycle Top indicator. This tool has historically proven reliable for confirming bull market peaks. Rekt Capital’s analysis suggests current market conditions present a buying opportunity for Bitcoin investors.&nbsp;</p>
<p>Meanwhile, data from Wise Advice shows accumulation in over-the-counter (OTC) desk wallets, indicating potential market dynamics.</p>
<h2 class="wp-block-heading" id="strong-bitcoin-btc-price-analysis-strong"><strong>Bitcoin (BTC) Price Analysis</strong></h2>
<p>The Pi Cycle Top indicator examines different phases of Bitcoin’s market cycles. In bear market years, Bitcoin’s price typically falls below the indicator’s orange moving average. Pre-halving years often see the price fluctuate around this average. However, halving years like 2024 usually maintain prices above it.</p>
<p>Rekt Capital points out that the current deviation below the orange moving average is noteworthy. He states, <em>“We’re currently seeing this deviation for the first time in 2024, making it a special buying opportunity.”</em> Historical data shows such deviations during halving years tend to be short-lived.</p> <iframe loading="lazy" width="560" height="315" src="https://www.youtube.com/embed/rXwCEi38q50?si=2WIxSU7wZUp_oxBq" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
<h2 class="wp-block-heading" id="strong-bitcoin-btc-price-prediction-strong"><strong>Bitcoin (BTC) Price Prediction</strong></h2>
<p>The analyst also discusses the green moving average, which acts as a resistance level. Bitcoin typically rejects at first contact with this average but breaks through on subsequent attempts. Rekt Capital predicts future price action could see Bitcoin surpassing this level, potentially reaching around $91-92k.</p>
<p>ahead, Rekt Capital anticipates more sideways movement before a significant breakout. He expects Bitcoin to surpass $71-72k in September or October, triggering a parabolic phase. <em>“The longer we consolidate, the longer the bull market will be,”</em> he explains.</p>
<p>This consolidation period is crucial for aligning the current cycle with historical patterns. It may extend the duration of the bull market, setting the stage for substantial gains. Rekt Capital predicts the bull market top will occur in mid to late 2025.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   New Meme Coin to Watch Aiming to be Next $BONK, $WIF or $MEW
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p><strong><a href="https://mileimoneda.io/?utm_source=marketing&amp;utm_medium=inarticle&amp;utm_campaign=cap&amp;utm_id=s1" target="_blank" rel="noopener noreferrer nofollow">Milei Moneda</a></strong> is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president&nbsp;known for his libertarian and pro-Bitcoin stance. You have an opportunity with the <strong><a href="https://mileimoneda.io/?utm_source=marketing&amp;utm_medium=inarticle&amp;utm_campaign=cap&amp;utm_id=s1" target="_blank" rel="noopener noreferrer nofollow">ongoing low presale price</a></strong> to get in early!</p>
    <p><em>Sponsored</em></p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/massive-bitcoin-mining-firm-reveals-its-mining-kaspa-kas-price-surges/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Massive Bitcoin Mining Firm Reveals Its Mining Kaspa: KAS Price Surges</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-otc-accumulation-and-market-dynamics-strong"><strong>OTC Accumulation and Market Dynamics</strong></h2>
<p>While Rekt Capital’s analysis paints a bullish picture, data from Wise Advice suggests caution. According to their tweet, 103,000 BTC worth $6.35 billion has been added to OTC desk wallets in 1.5 months.</p>
<p>Despite falling Bitcoin prices, this accumulation indicates limited buyer interest in the market, according to Wise Advice. They interpret this trend as a signal that the Bitcoin price downtrend or consolidation will persist until buyer interest increases.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">𝟭𝟬𝟯,𝟬𝟬𝟬 𝗕𝗧𝗖 worth $6.35 billion has been added to OTC desk wallets in 1.5 months.<br>&nbsp;<br>The <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> price is falling and the OTC balance is increasing.<br><br>This shows that there are still not many buyers.&nbsp;<br>&nbsp;<br>Until this changes, the <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#BTC</a> price downtrend or consolidation will… <a href="https://t.co/dZ2MHUZmg8" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/dZ2MHUZmg8</a></p>— Wise Advice (@wiseadvicesumit) <a href="https://twitter.com/wiseadvicesumit/status/1805913956114141393?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">June 26, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>The contrast between OTC accumulation and falling prices presents an intriguing market dynamic. It suggests that while large players are accumulating Bitcoin, retail interest remains subdued. This scenario could lead to continued price consolidation in the short term.</p>
<h2 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h2>
<p>The cryptocurrency market presents a complex picture. Rekt Capital’s analysis of the Pi Cycle Top indicator suggests a potential buying opportunity. However, data from Wise Advice indicates caution due to limited buyer interest.</p>
<p>Investors should consider both perspectives when making decisions. The accumulation in OTC wallets could signal future price appreciation. Yet, the current lack of broad market participation may lead to continued consolidation.</p>
<p><em><strong>Join&nbsp;<a href="https://captainaltcoin.com/go/aethir/" target="_blank" rel="noopener noreferrer nofollow">Aethir’s exclusive airdrop</a>&nbsp;and earn badges by participating in events or holding community tokens. Complete tasks and secure your spot before the snapshot date is revealed!</strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/REBEL-SATOSHI-RECQ-MEME-COIN-qndahijqjwle5mml7gg8my30uqig0eo11vxmtat25a.png" width="500" alt="Check $RECQ Meme Coin" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-recq-meme-coin-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check $RECQ Meme Coin</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy RECQ Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Serves as the base currency for all transactions within the Rebel Satoshi platform <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>ICO stage, offering tokens at a discounted price <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade, <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/bitcoin-price-prediction-this-btc-indicator-signals-buying-opportunity-amid-otc-accumulation/" rel="noopener noreferrer nofollow">Bitcoin Price Prediction: This BTC Indicator Signals Buying Opportunity Amid OTC Accumulation</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bitcoin Price Prediction: This BTC Indicator Signals Buying Opportunity Amid OTC Accumulation

Table of Contents

CaptainAltcoin

Other articles published on Jun 27, 2024

With MARA Interest Boost In Kaspa, Can It Shoot To $1 Mark?

What Cryptocurrencies Are Making Millionaires in 2024?

Blast Token Launch Sees 40% Increase in Value Overnight

MoonBag Gears Up For the Moon: The Best Crypto Presale in June 2024 While Fantom and Arweave Fade...

Will Ripple Settle? Lawyer’s Weighs in on Ripple vs SEC Settlement, Appeal, and Much More

DOGE Community Opens Hot “Dogecoin or Bitcoin” Debate, Here's Surprising Twist

Join our free newsletter for daily crypto updates!