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<ul>
 <li>Bitcoin to rally above the $60K resistance zone after several unsuccessful attempts.</li>
 <li>Captain Faibik believes that once Bitcoin surpasses $60K, the next target is $70K, based on market trends and historical data.</li>
 <li>Germany’s Bitcoin liquidation and the Mt. Gox trustee’s sell-off contribute to market uncertainty</li>
</ul>
<p><a href="https://bitcoin.org/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> faces a crucial test as it struggles to breach the $60K resistance zone. Market uncertainty adds to the complexity, making this a critical moment for BTC.</p>
<p>Recent attempts to surpass the $60K barrier have met with resistance. Despite these setbacks, optimism remains high.&nbsp;</p>
<p>The market’s volatile nature has traders on edge, but many believe a breakthrough is imminent. Crypto analyst <a href="https://twitter.com/cryptofaibik?lang=en" rel="noopener noreferrer nofollow">Captain </a><a href="https://twitter.com/cryptofaibik?lang=en" target="_blank" rel="noopener noreferrer nofollow">Faibik</a> has weighed in on the situation. He believes that once Bitcoin breaks through the $60K resistance, the next target will be $70K.&nbsp;</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> bulls are again trying to clear the Crucial Resistance level at $60K.<br><br>Once the Breakout is done, the next stop will be $70K.<a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> <a href="https://t.co/WnMxSopR8J" rel="noopener noreferrer nofollow">pic.twitter.com/WnMxSopR8J</a></p>— Captain Faibik (@CryptoFaibik) <a href="https://twitter.com/CryptoFaibik/status/1812312117946503537?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 14, 2024</a>
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<p>His analysis is grounded in the current market trends and historical data. According to Faibik, the momentum could shift quickly once this key resistance level is breached.</p>
<p>Technical indicators are crucial in this scenario. Many analysts focus on moving averages and other metrics to gauge Bitcoin’s next move.&nbsp;</p>
<h2 class="wp-block-heading" id="h-why-has-btc-been-bearish">Why Has BTC Been Bearish?</h2>
<p>Various factors contributed to a <a href="https://cryptonewsland.com/bitcoin-sinks-to-55000-amid-mt-gox-sell-off/" target="_blank" rel="noopener noreferrer nofollow">bearish</a><a href="https://cryptonewsland.com/bitcoin-sinks-to-55000-amid-mt-gox-sell-off/" rel="noopener noreferrer nofollow"> BTC</a> Firstly, Germany has liquidated a significant amount of Bitcoin. This move added selling pressure to the market, preventing Bitcoin from achieving new highs.</p>
<p>Another major concern is the anticipated sell-off from the Mt. Gox trustee. Mt. Gox, a defunct Bitcoin exchange, is set to return a substantial amount of Bitcoin to its creditors. The looming distribution has created uncertainty in the market.&nbsp;</p>
<p>Investors fear that a large influx of Bitcoin could lead to further selling pressure. Despite the challenges, the <a href="https://cryptonewsland.com/bitcoin-still-bullish-analyst-suggests-95000-price-spike-in-the-works/" rel="noopener noreferrer nofollow">long-term </a><a href="https://cryptonewsland.com/bitcoin-still-bullish-analyst-suggests-95000-price-spike-in-the-works/" target="_blank" rel="noopener noreferrer nofollow">outlook</a><a href="https://cryptonewsland.com/bitcoin-still-bullish-analyst-suggests-95000-price-spike-in-the-works/" rel="noopener noreferrer nofollow"> is bullish</a>. BTC’s role as a digital asset and store of value continues to grow.&nbsp;</p>
<p>Meanwhile, institutional interest in digital assets is increasing, and adoption rates are rising. These factors contribute to the overall bullish sentiment.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also&nbsp;</h4>
<ul class="wp-block-yoast-seo-related-links yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/bitcoinbtc-holds-strong-at-70k-again-ethereum-eth-aims-for-4k-and-furrever-token-emerges-as-a-2024-game-changer/" rel="noopener noreferrer nofollow">Bitcoin(BTC) Holds Strong at $70k Again, Ethereum (ETH) Aims for $4k, and Furrever Token Emerges as a 2024 Game-Changer</a></li>
 <li><a href="https://cryptonewsland.com/bitcoin-struggles-with-the-bears-trades-below-60k/" rel="noopener noreferrer nofollow">Bitcoin Struggles With the Bears, Trades Below $60k</a></li>
 <li><a href="https://cryptonewsland.com/bitcoin-price-prediction-60k/" rel="noopener noreferrer nofollow">$60K Bitcoin Price: A Dream or Reality?</a></li>
 <li><a href="https://cryptonewsland.com/bitcoin-withdrawals-from-exchanges-signal-potential-market-shift/" rel="noopener noreferrer nofollow">Bitcoin Withdrawals from Exchanges Signal Potential Market Shift</a></li>
 <li><a href="https://cryptonewsland.com/altcoins-to-boost-over-2700-this-year-analyst-explains/" rel="noopener noreferrer nofollow">Altcoins to Boost Over 2700% This Year, Analyst Explains</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/bulls-eye-70k-as-btc-struggles-to-soar/" rel="noopener noreferrer nofollow">Bulls Eye $70K As BTC Struggles to Breach Key Resistance at $60K Zone</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Bulls Eye $70K As BTC Struggles to Breach Key Resistance at $60K Zone

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