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<ul class="news-points"> 
 <li><strong>BTC would only trade above $46,000 after the halving, Rekt Capital said.</strong></li> 
 <li><strong>The price climbed back above $40,000 amid new capital inflow.</strong></li> 
 <li><strong>A move below $38,000 is possible in the short term if selling pressure continues.</strong></li> 
</ul> 
<p>Analyst Rekt Capital has made a new <a href="https://coinedition.com/bitmex-co-founder-spots-bitcoins-support-between-30k-and-35k/">Bitcoin (BTC)</a> price prediction, saying the coin might not rise above $46,000 until after the halving scheduled for April. According to the trader, once Bitcoin breaks its four-year cycle resistance, the path could be clear to the said price.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#BTC</a> <br><br>Each Candle 4 breaks its Four Year Cycle resistance (black)<br><br>Thus, Bitcoin will comfortably break $46000 resistance this year but most likely only after the Halving<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Bitcoin</a> <a href="https://t.co/QWEgqoIZTM" target="_blank" rel="nofollow">pic.twitter.com/QWEgqoIZTM</a></p>— Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1749855958094827895?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">January 23, 2024</a>
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<p>This month, BTC hit $49,000 hours after the U.S. SEC approved the Bitcoin spot ETFs. But the event which many expected to drive Bitcoin’s price higher than $50,000, turned out to be a “sell the news” event.</p> 
<p>Recently, the selling pressure, especially <a href="https://coinedition.com/breaking-down-bitcoins-39k-decline-a-closer-look-at-the-main-driver/">those from Grayscale</a>, has sent BTC plunging. At press time, <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="nofollow">BTC</a>’s price was $40,086, representing a 7.33% 30-day decline.</p> 
<h2 class="wp-block-heading" id="h-new-money-comes-in"><strong>New Money Comes In</strong></h2> 
<p>Bitcoin…</p>
<p>The post <a href="https://coinedition.com/bitcoin-btc-will-break-above-46000-but-not-so-fast-analyst/">Bitcoin (BTC) Will Break Above $46,000 But Not So Fast: Analyst</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.</p>

Bitcoin (BTC) Will Break Above $46,000 But Not So Fast: Analyst

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