Bitcoin

Captain

<p>The post <a href="https://coinpedia.org/price-analysis/bitcoin-price-all-set-to-hit-66k-this-week-heres-why/">Bitcoin Price All Set To Hit $66K This Week: Here’s Why</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The global cryptocurrency market cap has reached $2.5 trillion as <a href="https://markets.coinpedia.org/bitcoin/" target="_blank" rel="noreferrer noopener">Bitcoin (BTC) price</a> closed last week above $63,000. Institutional investors have continued proliferating into the crypto market through the spot <a href="https://markets.coinpedia.org/bitcoin-etf/" target="_blank" rel="noreferrer noopener">Bitcoin exchange-traded funds (ETFs)</a>.&nbsp;</p> 
<p>Furthermore, the Bitcoin supply on cryptocurrency exchanges declined by 28 percent last week to the lowest since 2020.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-rising-web3-adoption-nbsp">Rising Web3 Adoption&nbsp;</h2> 
<p>The most important crypto event in this bull market, the fourth <a href="https://coinpedia.org/beginners-guide/what-is-bitcoin-halving/" target="_blank" rel="noreferrer noopener">Bitcoin halving</a>, is about 48 days from happening, which will further exaggerate the supply vs demand shock. Investors from all over the world have begun showing interest in crypto assets as shown by the significant rise of the meme coins led by Floki, Pepe, and BONK.&nbsp;</p> 
<p>The collapse of the fiat currencies has been predicted due to the poor monetary policies of the majority of global central banks. The printing of uncapped fiat money from thin air has been described as the worst slavery to investors. Nonetheless, the digital assets industry through Web3 protocols has provided investors worldwide a way to fight inflation.</p> 
<p>Also Read: <a href="https://coinpedia.org/price-analysis/crypto-market-cap-tops-2-5t-bitcoin-price-breaks-64k-while-ethereum-price-surpasses-3500/">Crypto Market Cap Tops $2.5T, Bitcoin Price Breaks $64k, While Ethereum Price Surpasses $3,500</a></p> 
<h2 class="wp-block-heading" id="h-crypto-funding-spikes">Crypto Funding Spikes</h2> 
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   <p lang="en" dir="ltr">Around $48.54 billion are flowing into the <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw">#crypto</a> market, the highest capital inflow since October 2021! <a href="https://t.co/bOhwK4RzYA">pic.twitter.com/bOhwK4RzYA</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1764429965129322638?ref_src=twsrc%5Etfw">March 3, 2024</a>
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<p>For the past 30 days, the cryptocurrency market has attracted more than $48 billion in cash inflow, ostensibly the highest since October 2021. The significant spike in crypto funding rate is an indication the bulls are in control.&nbsp;</p> 
<p>With increased clear crypto regulatory frameworks, experts predict more cash inflows will be recorded in the coming quarters.</p> 
<h2 class="wp-block-heading" id="h-short-term-bitcoin-price-targets-nbsp">Short-Term Bitcoin Price Targets&nbsp;</h2> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is getting Ready for Another Bullish leg towards the 66k. <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/mwvlsFN546">pic.twitter.com/mwvlsFN546</a></p>— Captain Faibik (@CryptoFaibik) <a href="https://twitter.com/CryptoFaibik/status/1764305177597604265?ref_src=twsrc%5Etfw">March 3, 2024</a>
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<p>Bitcoin price has consolidated between $61k and $64k in the past five days to trade around $63,432 on Monday during the early Asian session. According to a popular and reputable crypto analyst alias Captain Faibik on the X platform, Bitcoin price is on the cusp of a 4-6 percent spike towards $66k in the coming days.&nbsp;</p> 
<p>The crypto analyst highlighted that <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">Bitcoin price</a> in the 1-hour time frame has been forming a bullish pennant, which is often followed by an imminent bullish breakout.</p>

Bitcoin Price All Set To Hit $66K This Week: Here’s Why

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