Greed

Bitcoin

Million

when

Daily

<ul class="list-ic vertical">
 <li><span>1</span> <a>The Fear and Greed Index is at 30, showing higher fear sentiment.&nbsp;</a></li>
 <li><span>2</span> <a>The MACD indicator suggests a short-term rise in price. The RSI is recovering from extreme oversold levels.&nbsp;</a></li>
 <li><span>3</span> <a>Bitcoin’s volume-to-market cap ratio is 1.85%, and its dominance is 53.2%.&nbsp;</a></li>
</ul>
<p>The <strong>Bitcoin (BTC) price</strong> has traded between $59,000 and $71,000 levels for 122 days. It rallied on January 25th, 2024, from $38,774 to $74,025 peak by mid-March 2024.</p>
<p>Additionally,<strong> Bitcoin (BTC)</strong>, the market leader, has surged by 1.08% and stands at $60,992.31.&nbsp;</p>
<p>As per CoinMarketCap, its volume-to-market cap ratio stands at 1.85%. That reflects comparatively low liquidity in the crypto asset, followed by the last 24 hours of trading activity.</p>
<p>Looking further into the crypto landscape, the market leader has a market cap dominance of 53.2%.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="236" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-350-1024x236.png" alt="BTC" class="wp-image-210018" style="width: 100%" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-350-1024x236.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-350-300x69.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-350-768x177.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-350-750x173.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-350-1140x263.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-350.png 1452w" sizes="(max-width: 1024px) 100vw, 1024px">
 </figure>
</div>
<p class="has-text-align-center">Fear &amp; Greed Index | Source: LookIntoBitcoin.com</p>
<p>The fear and greed index stays at 30, which illustrates that the sentiment of the BTC crypto appears to be at higher fear.</p>
<h2 class="wp-block-heading" id="strong-bitcoin-btc-price-perspective-strong"><strong>Bitcoin (BTC) Price Perspective</strong></h2>
<p>The <strong>BTC</strong> chart shows a pretty clean study as of now, and the price has been sitting around at the bottom of the accumulation channel.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="548" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-351-1024x548.png" alt="BTC" class="wp-image-210019" style="width: 100%" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-351-1024x548.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-351-300x161.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-351-768x411.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-351-1536x822.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-351-750x401.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-351-1140x610.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-351.png 1564w" sizes="(max-width: 1024px) 100vw, 1024px">
 </figure>
</div>
<p class="has-text-align-center">BTC 1.D. | Source: TradingView</p>
<p>In the daily chart, the longer perspective remains neutral, between $59,000 and $71,000. However, the bearish perspective could prevail if <strong>BTC </strong>slides below $59000, making it bearish. On the contrary, the bullish perspective would be when the price boosts above $71000 and follows a bullish structure formation on the daily chart.</p>
<h3 class="wp-block-heading" id="strong-btc-price-structure-over-the-4-h-chart-strong"><strong>BTC Price Structure Over The 4-H Chart!</strong></h3>
<p>Looking at the 4-h chart of BTC, the BTC has been following an upward trendline, where the short-term hurdle looks to be at $62,340. The BTC buyers are trying to surge as it approaches the dynamic resistances of 50-day and 200-day EMA bands.</p>
<p>The MACD indicator has shown a bullish cross in the bearish vicinity of the indicator; with the growing histogram at 53.32, it looks clear that <strong>BTC </strong>is primed to rise in the short term.</p>
<p>Meanwhile, the RSI flashed at 45.07, and it has taken support from 14-SMA. Thus, the curve shows that the price has recovered from an extreme oversold of 20 to an overbought territory.&nbsp;</p> 
<p><a href="https://in.tradingview.com/chart/BTCUSD/Kw2SvwiB-BTC-Price-Structure-Over-The-4-H-Chart/" rel="noopener noreferrer nofollow"></a><a href="https://in.tradingview.com/u/Sam_TCR/" rel="noopener noreferrer nofollow"></a><a href="https://in.tradingview.com/" rel="noopener noreferrer nofollow"></a></p> 
<p>Therefore, if the price continues to ride the trendline over the 4-H chart, the resistance levels would be $62,341 and $64,555. Meanwhile, if the price declines below trendline support, the nearest support could be at $59,980 and $59,242 levels.</p>
<h3 class="wp-block-heading" id="strong-continuous-declines-observed-in-the-daily-active-addresses-strong"><strong>Continuous Declines Observed in the Daily Active Addresses</strong></h3>
<p>The <a href="https://www.thecoinrepublic.com/2023/09/12/bitcoin-btc-price-prediction-btc-near-25k-time-to-go-long/" target="_blank" rel="noopener noreferrer nofollow"><strong>Bitcoin (BTC) </strong></a>crypto price has witnessed a decline in the daily active addresses over the last three months.&nbsp;</p> <iframe loading="lazy" title="Santiment Chart: Daily Active Addresses (BTC)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=bitcoin&amp;pt=BTC&amp;df=2023-12-25T00%3A00%3A00.000Z&amp;emcg=1&amp;wm=daily_active_addresses&amp;wax=0&amp;wc=%23FFAD4D" scrolling="no"></iframe>
<p class="has-text-align-center">Daily Active Addresses | Source: Santiment.com</p>
<p>The total daily active addresses have declined to a current value of $354 K from nearly 1.17 Million in March 2024.</p>
<h3 class="wp-block-heading" id="strong-how-the-btc-price-may-perform-in-upcoming-days-strong"><strong>How the BTC Price May Perform in Upcoming Days?</strong></h3>
<p><strong>Bitcoin (BTC) </strong>has been trading between $59,000 and $71,000 for 122 days. It surged from $38,774 to $74,025 on January 25th, 2024.&nbsp;</p>
<p>Currently, its price is at $60,992.31, with a 1.08% increase. Its price perspective remains neutral between $59,000 and $71,000, with a potential bearish outlook below $59,000 and a bullish outlook above $71,000. Active addresses have decreased to 354k from 1.17 million in the last three months.</p>
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4>
<p>In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.</p>

Can BTC Price Go Above $71000 Despite Negative Market Sentiment

Inhoudsopgave

Thecoinrepublic.com

Andere artikelen gepubliceerd op 29 jun 2024

Web3’s Celebrity Crypto Tokens: Boon or Bane? Experts Weigh In

'Rich Dad Poor Dad' Author Calls Bitcoin Fast Track Investment, Here’s What He Means

Bitcoin Activity Hits Lowest Levels Since 2010 Amid Retail Investor Retreat

81% Success Rate Trader's Top Coin Picks for 2024: Bitgert, Kaspa, Popcat, Super Trump, Fetch.ai

DOT’s 11% weekly hike – Here’s how RWAs are helping Polkadot

Fed may cut rates this year amid inflation concerns tied to Trump

Meld je aan voor onze gratis nieuwsbrief voor dagelijkse crypto-updates!