Cardano

2024

Bitcoin

Propel

Avalanche

<p>The post <a href="https://coinpedia.org/news/bitcoins-critical-moment-will-july-10th-11th-propel-btc-price-to-67k-or-crash-to-48k/">Bitcoin’s Critical Moment: Will July 10th-11th Propel BTC Price to $67K or Crash to $48K?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p><a href="https://markets.coinpedia.org/bitcoin/" target="_blank" rel="noreferrer noopener">Bitcoin’s (BTC) price</a> has rebounded from the recent selloff in the past three days. During the early European session, the flagship coin pumped more than 3 percent in the past 24 hours to hover around $59,200 on Wednesday. As a result, the altcoin industry registered similar gains led by Avalanche (AVAX), Cardano (ADA), and Polkadot.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-increased-crypto-fear">Increased Crypto Fear</h2> 
<p>The sudden Bitcoin pump did not surprise most investors, compared to the recent capitulation. Around $106 million was liquidated from the entire crypto derivatives market compared to the $700 million during the recent capitulation.</p> 
<p>According to Bitcoin’s fear and greed index, the crypto industry has been experiencing its highest level of fear since January 2023.</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">We're witnessing the highest level of fear in the <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw">#crypto</a> market since January 2023! <a href="https://t.co/DhArw0Vbgm">pic.twitter.com/DhArw0Vbgm</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1810674992603926615?ref_src=twsrc%5Etfw">July 9, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="h-whales-on-the-move">Whales on the Move</h2> 
<p>The recent Bitcoin dip towards $54k triggered by the ongoing sell-offs by the German government and the Mt.Gox repayments have been a buying opportunity for some.&nbsp;</p> 
<p>According to <a href="https://x.com/ali_charts/status/1810791390764232964?s=46" target="_blank" rel="noreferrer noopener nofollow">on-chain data</a>, a single whale purchased around 10k BTCs on Tuesday, thus joining other whale traders in accumulation. In the past three days, the US-based spot Bitcoin ETFs have registered a total cash inflow of over $650 million.</p> 
<h2 class="wp-block-heading" id="h-what-next">What Next?</h2> 
<p><a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">Bitcoin price</a> has rebounded above the crucial support/resistance level of around $59k ahead of tomorrow’s US CPI data. Tomorrow’s economic data will clarify whether the Fed will initiate the much-anticipated interest rate cuts later this year.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">If <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> can reclaim $58,400, a $60,000-$60,700 retest is likely.<br><br>What happens between $60k and $58,400 will determine whether <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> sees $67k or $48k next.<br><br>All eyes on US CPI and PPI this Thursday and Friday. <a href="https://t.co/trRto6OiNY">https://t.co/trRto6OiNY</a> <a href="https://t.co/cHC3pjenfc">pic.twitter.com/cHC3pjenfc</a></p>— Justin Bennett (@JustinBennettFX) <a href="https://twitter.com/JustinBennettFX/status/1810769416327712781?ref_src=twsrc%5Etfw">July 9, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>According to popular crypto analyst Justin Bennett, traders should closely monitor how the flagship coin performs between $58k and $60k. Furthermore, a solid close above $60k will yield a rally towards $67k, while the opposite will lead to a further market correction towards $48k.</p> 
<p>Read Also: <a href="https://coinpedia.org/news/bitcoins-price-volatility-signals-potential-bull-run-by-q3-key-metrics-explained/" target="_blank" rel="noreferrer noopener">Bitcoin’s Price Volatility Signals Potential Bull Run by Q3: Key Metrics Explained</a></p>

Bitcoin’s Critical Moment: Will July 10th-11th Propel BTC Price to $67K or Crash to $48K?

Table of Contents

CoinPedia News

Další články publikované 10. 7. 2024

Chamber of Progress Urges Biden For Pro Crypto Policy Ahead Of Elections

Bitcoin Pullback Deepens: Is the 2023-2024 Bull Cycle Losing Steam?

Goldman Sachs Expands Crypto and Tokenization Initiatives

Senator Marsha Blackburn Now Accepting Crypto Donations

Crypto in Peril, U.S. House Expected to Uphold Biden Veto Preserving SEC Accounting Rule

Standard Chartered’s crypto arm eyes buying billionaire’s crypto OTC firm: Report

Join our free newsletter for daily crypto updates!