Greed

2024

Bitcoin

Rekt

The Bitcoin price tumbled almost 2% in the last 24 hours to trade for $56,661 as of 00:15 a.m. EST on trading volume that surged 12% amid ongoing profit booking.
The BTC fall comes despite investment bank JPMorgan saying that Bitcoin and the broader crypto markets are set to rebound next month.
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 JUST IN: JP Morgan says <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> and crypto markets to rebound in August. <a href="https://t.co/HwnWoY0G8i" rel="noopener noreferrer nofollow">pic.twitter.com/HwnWoY0G8i</a>
 — Radar🚨 (@RadarHits) <a href="https://twitter.com/RadarHits/status/1811466169150214420?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 11, 2024</a>
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However, bearish sentiment continues to prevail in the BTC market amid elevated fear levels. According to the Fear and Greed Index, the market is exhibiting extreme fear levels.
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 Bitcoin Fear and Greed Index is 25 — Fear Current price: $57,345 <a href="https://t.co/efreWqUJz4" rel="noopener noreferrer nofollow">pic.twitter.com/efreWqUJz4</a>
 — Bitcoin Fear and Greed Index (@BitcoinFear) <a href="https://twitter.com/BitcoinFear/status/1811551073850601919?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 12, 2024</a>
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Meanwhile, Rekt Capital, a popular analyst account on X, observes that the Bitcoin price only needs to move an extra 3.5% north to position itself for a weekly candle close above $60,600 to reclaim the range low.
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 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a>
 Bitcoin only needs to rally an extra +3.5% to the upside to position itself for a Weekly Candle Close above $60600 to reclaim the Range Low
 Bitcoin needs to reclaim this Re-Accumulation Range<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> <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://t.co/B8gwvCAyfd" rel="noopener noreferrer nofollow">pic.twitter.com/B8gwvCAyfd</a>
 — Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1811360251985228022?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 11, 2024</a>
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Another analyst, Arsen, says the Bitcoin price could rebound to $330,000 in the current bull cycle. He ascribes this forecast to smart money, which is comprised of institutional investors, market experts, and other financial professionals who have accumulated BTC during the recent dip.
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 While you're being scared, smart money is doubling down.
 That’s because this dip is nothing new.
 As you can see, Bitcoin goes to a new all-time-high every 4 years:
 2012: Bitcoin goes from $12 to $1000 = ~9,000% increase 2016: Bitcoin goes from $650 to $19K = ~3,000% increase… <a href="https://t.co/gxHsEwzLBs" rel="noopener noreferrer nofollow">pic.twitter.com/gxHsEwzLBs</a>
 — Arsen | Bitcoin Therapy 📧 (@satoshibaggins) <a href="https://twitter.com/satoshibaggins/status/1810986413435097412?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 10, 2024</a>
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<h2 id="bitcoin-price-prediction">Bitcoin Price Prediction</h2>
The Bitcoin price is trading with a bearish bias recording lower highs as it remains confined within a descending parallel channel. Chances of a further downside are high as the Relative Strength Index (RSI) continues to break down with higher lows.
Similarly, the Moving Average Convergence Divergence (MACD) is in negative territory and has crossed below the signal line (orange band), suggesting a prevailing bearish sentiment.
With this outlook, the Bitcoin price could drop, slipping below the centerline of the channel. In a dire case, the pioneer cryptocurrency could extend the fall to the support confluence between the bottom of the market range and the lower boundary of the channel at $53,108.
The spikes of the volume profile accentuate the bearish thesis, pointing to a frothing selling appetite in the BTC market.
<a href="https://insidebitcoins.com/wp-content/uploads/2024/07/BTC-12.png" rel="noopener noreferrer nofollow"><img decoding="async" class="aligncenter wp-image-549772 size-full" src="https://insidebitcoins.com/wp-content/uploads/2024/07/BTC-12.png" alt="" width="1366" height="768" srcset="https://insidebitcoins.com/wp-content/uploads/2024/07/BTC-12.png 1366w, https://insidebitcoins.com/wp-content/uploads/2024/07/BTC-12-300x169.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/07/BTC-12-1024x576.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/07/BTC-12-768x432.png 768w" sizes="(max-width: 1366px) 100vw, 1366px"></a>
<a href="https://www.geckoterminal.com/eth/pools/0x9db9e0e53058c89e5b94e29621a205198648425b" target="_blank" rel="noopener noreferrer nofollow">GeckoTerminal: BTC/USD 4-hour chart</a>
On the other hand, if the bulls seize the opportunity to recover the market, the Bitcoin price could recover. Nevertheless, only a candlestick close above the 50% Fibonacci placeholder of $62,479 would render BTC attractive to buy.
More importantly, the bearish thesis will only be invalidated after the Bitcoin price breaks and closes above the $71,850 level. This threshold was last tested on June 7.
Meanwhile, investors are flocking to 99Bitcoins (99BTC), the latest Bitcoin derivative token that crypto YouTuber Today Trader says has ”huge potential.”
<iframe title="New Prelaunch 99Bitcoins Learn 2 Earn On BRC-20 - Early Buyers Become Millionaires (HUGE POTENTIAL)" width="640" height="360" src="https://www.youtube.com/embed/fqz4Dt085rQ?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
<h2 id="promising-alternative-to-bitcoin">Promising Alternative To Bitcoin</h2>
<a href="https://insidebitcoins.com/visit/99bitcoins" target="_blank" rel="noopener noreferrer nofollow">99Bitcoins</a>&nbsp;is a project designed to reward individuals for learning about cryptocurrency. To this end, this long-established educational platform has pioneered a new Learn-to-Earn (L2E) rewards model, integrating with BRC-20 to pioneer the L2E model on the Bitcoin blockchain.
<a href="https://insidebitcoins.com/wp-content/uploads/2024/07/99BTC-BRC20.png" rel="noopener noreferrer nofollow"><img decoding="async" class="alignnone wp-image-549773 size-full" src="https://insidebitcoins.com/wp-content/uploads/2024/07/99BTC-BRC20.png" alt="99BTC" width="906" height="528" srcset="https://insidebitcoins.com/wp-content/uploads/2024/07/99BTC-BRC20.png 906w, https://insidebitcoins.com/wp-content/uploads/2024/07/99BTC-BRC20-300x175.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/07/99BTC-BRC20-240x140.png 240w, https://insidebitcoins.com/wp-content/uploads/2024/07/99BTC-BRC20-768x448.png 768w" sizes="(max-width: 906px) 100vw, 906px"></a>
The project boasts the best-in-class educational resources and visual learning courses for crypto beginners. And it incentivizes learning through a unique mix of gamification and a leaderboard reward system. With this, users feel like their learning is producing tangible benefits.
$99BTC also enables token holders to earn passive income via a staking yield of 703% annually. So far, upwards of 1.549 billion 99BTC tokens have been staked.
<a href="https://insidebitcoins.com/wp-content/uploads/2024/07/99BTC-Stake.png" rel="noopener noreferrer nofollow"><img decoding="async" class="alignnone wp-image-549776 size-full" src="https://insidebitcoins.com/wp-content/uploads/2024/07/99BTC-Stake.png" alt="99BTC" width="1008" height="283" srcset="https://insidebitcoins.com/wp-content/uploads/2024/07/99BTC-Stake.png 1008w, https://insidebitcoins.com/wp-content/uploads/2024/07/99BTC-Stake-300x84.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/07/99BTC-Stake-768x216.png 768w" sizes="(max-width: 1008px) 100vw, 1008px"></a>
Presale sales have passed the $2.393 million mark.
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 🎉 Milestone alert! 🎉
 We have now raised over $2.3 MILLION in our $99BTC presale! 🚀
 Don't miss your chance to get in early. 👀
 Join the <a href="https://twitter.com/hashtag/Presale?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Presale</a> now! 👉 <a href="https://t.co/NXD7DAaUfZ" rel="noopener noreferrer nofollow">https://t.co/NXD7DAaUfZ</a><a href="https://twitter.com/hashtag/99Bitcoins?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#99Bitcoins</a> <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> <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/L2E?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#L2E</a> <a href="https://t.co/mA1rKiGuE8" rel="noopener noreferrer nofollow">pic.twitter.com/mA1rKiGuE8</a>
 — 99Bitcoins (@99BitcoinsHQ) <a href="https://twitter.com/99BitcoinsHQ/status/1809199927618421082?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 5, 2024</a>
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Investors can buy the 99BTC token for $0.00113. With a price hike coming in about four days, interested investors should buy before then to secure the best deal.
<a href="https://insidebitcoins.com/visit/99bitcoins" target="_blank" rel="noopener noreferrer nofollow">Visit and buy 99Bitcoins here</a>.
<h2 id="strong-also-read-strong">Also Read:</h2>
<ul>
 <li><a href="https://insidebitcoins.com/buy-cryptocurrency/99bitcoins-price-prediction" rel="noopener noreferrer nofollow">99Bitcoins Price Prediction – $99BTC Profit Potential in 2024</a></li>
 <li><a href="https://insidebitcoins.com/news/99bitcoins-launches-new-learn-to-earn-airdrop-presale-todaytrader-video-review" rel="noopener noreferrer nofollow">99Bitcoins Launches New Learn-to-Earn Airdrop Presale – TodayTrader Video Review</a></li>
 <li><a href="https://www.linkedin.com/pulse/best-penny-crypto-investments-top-picks-explosive-growth-calsona-j8nhe" rel="noopener noreferrer nofollow">Best Penny Crypto Investments: Top Picks for Explosive Growth in 2024!</a></li>
</ul>

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