Greed

Bitcoin

Notable

Rekt

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-surges-and-market-insights-after-the-halving/" data-wpel-link="internal">Bitcoin Price Surges and Market Insights After the Halving</a> 
Analysts suggest that the dangerous period after the halving could end, and Bitcoin could rise further as Bitcoin’s <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">price</a> climbed above $65,000 on May 6. Bitcoin entered a three-week period after the halving, historically marked by downward volatility occurring below the accumulation range. 
<h2 class="p1" style="text-align: justify" id="prominent-figures-comment-on-bitcoin">Prominent Figures Comment on Bitcoin</h2> 
According to popular <a href="https://en.coin-turk.com/signs-of-weakness-in-altcoins-as-macro-data-turns-negative/" data-wpel-link="internal">crypto analyst</a> Rekt Capital, the end of the post-halving danger zone might have occurred as Bitcoin rose above the current re-accumulation range of about $60,000. The famous analyst wrote in a post dated May 6: 
<blockquote> 
 “In terms of time, the post-halving danger zone will continue for the rest of this week and will see its third final week post-halving, but the expected price impact has already occurred.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-348419 size-full" src="https://coin-turk.com/wp-content/uploads/2024/05/rekt-2.jpg" alt="" width="1000" height="703"> 
Rekt Capital, in a post dated May 6, explained that during the 2016 bull cycle, Bitcoin produced an 11% downward wick 21 days after the halving event, marking the beginning of this price return: 
<blockquote> 
 “History repeated itself because in this cycle, Bitcoin produced a 6% downward wick below the relevant low range within 15 days after the halving event. Bitcoin has since risen strongly.” 
</blockquote> 
Meanwhile, Bitcoin analyst Willy Woo expects higher Bitcoin <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">prices</a> based on the Volume Weighted Average Price (VWAP), a popular oscillator used by <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a> to determine the average asset price based on price movement and volume. Woo wrote in a post shared on May 6: 
<blockquote> 
 “It looks like a good setup for Bitcoin to reach escape velocity. Plenty of room to run for the bull divergence.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-348418 size-full" src="https://coin-turk.com/wp-content/uploads/2024/05/willy-woo-scaled.jpg" alt="" width="2560" height="1618"> 
The Crypto Fear and Greed Index, further highlighting the change in investor sentiment, rose from 43/100 to 71/100 on May 2, indicating greed or fear. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-348417 size-full" src="https://coin-turk.com/wp-content/uploads/2024/05/crypto-fear.webp" alt="" width="1202" height="543"> 
<h2 class="p1" style="text-align: justify" id="notable-data-on-the-bitcoin-front">Notable Data on the Bitcoin Front</h2> 
Exits from 11 spot Bitcoin exchange-traded funds in the US contributed to Bitcoin’s correction. According to Dune data, US ETF funds recorded the highest weekly exit since launch last week, with approximately $900 million in net cumulative exits. 
<img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-348416 size-full" src="https://coin-turk.com/wp-content/uploads/2024/05/dune-1.webp" alt="" width="1669" height="791"> 
Interestingly, data shows that long-term holders (LTH) at $70,000 finished selling to new investors, possibly signaling the start of a new active accumulation phase, according to CryptoQuant author Axel Adler Jr’s post on May 6. 
<img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-348415 size-full" src="https://coin-turk.com/wp-content/uploads/2024/05/btc-5.jpg" alt="" width="2048" height="1152"> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-surges-and-market-insights-after-the-halving/" data-wpel-link="internal">Bitcoin Price Surges and Market Insights After the Halving</a></h5>

Bitcoin Price Surges and Market Insights After the Halving

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