Bitcoin

Resistance

BlackRock

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-shows-signs-of-recovery-and-faces-key-resistance-levels/" data-wpel-link="internal">Bitcoin Shows Signs of Recovery and Faces Key Resistance Levels</a><br></p>
<p style="text-align: justify">The leading cryptocurrency has turned upwards again and is trading sideways after a rapid recovery from the bottom. Altcoins have not yet fully recovered their losses and have been significantly worn out for months. So, what are the evaluations of well-known figures in this field regarding the current situation and the <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener" data-wpel-link="exclude">future</a>? What is expected to happen in the broader context of cryptocurrencies?</p> 
<h2 style="text-align: justify" id="what-will-happen-to-cryptocurrencies">What Will Happen to Cryptocurrencies?</h2> 
<p style="text-align: justify">A rapid decline and destruction in altcoins. We then see cryptocurrencies slowly trying to recover their losses with a quick BTC recovery. The largest cryptocurrency by market value is moving towards the psychological resistance level of $70,000 again. CryptoQuant CEO Ki Young Ju is hopeful due to the transfer of 358,000 BTC to hold wallets, as we recently announced.</p> 
<p style="text-align: justify">Young Ju looks at the market from a broader perspective and says, “accumulation continues.” And of course, at some point, these will be sold in an environment where new <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> rush to the markets both through ETFs via exchanges and through crypto exchanges.</p> 
<p style="text-align: justify">The world’s largest <a href="https://en.coin-turk.com/fed-officials-deliver-key-speeches-on-future-policies/" data-wpel-link="internal">Bitcoin</a> miner, Marathon Digital Holdings, announced that it bravely bought $100 million worth of BTC while it should use its cash source in the most accurate way. The company announced that it will hold BTC strongly as a reserve asset.</p> 
<p style="text-align: justify">Capriole Investments founder Charles Edwards said BTC ETF investors could create selling pressure to diversify their portfolios with ETH. However, at the Bitcoin event yesterday, a BlackRock official said their clients see ETH not as a substitute but as a separate investment option.</p> 
<h2 style="text-align: justify" id="bitcoin-price-prediction">Bitcoin Price Prediction</h2> 
<p style="text-align: justify">The price recovered from $64,283 and BTC started a rapid turnaround. This rapid turnaround from the EMA20 level was good. Bulls will now struggle to overcome the $68,500 hurdle. It won’t be easy because if they succeed, a $1 billion short position will be liquidated. Then the general resistance area of $72,000 will be targeted.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-374269 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/Bitcoin-dususu-bitti-mi-artik.png" alt="" width="1393" height="756"></p> 
<p style="text-align: justify">The point to be overcome here is the sales area between $72,000 and $73,777. It has been tried many times, but the bears could not be overthrown here. So, what happens in the negative scenario? BTC loses $64,283 and we see a new test at $60,000.</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-shows-signs-of-recovery-and-faces-key-resistance-levels/" data-wpel-link="internal">Bitcoin Shows Signs of Recovery and Faces Key Resistance Levels</a></h5>
<p>The post <a href="https://en.coin-turk.com/bitcoin-shows-signs-of-recovery-and-faces-key-resistance-levels/" data-wpel-link="internal">Bitcoin Shows Signs of Recovery and Faces Key Resistance Levels</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Bitcoin Shows Signs of Recovery and Faces Key Resistance Levels

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