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Cryptocurrency News Articles
Bitcoin (BTC) Price Momentum Sparks Debate as Market Analysts Diverge on Whether the BTC Will Face a Deeper Pullback or Surge Past $100,000
Nov 22, 2024 at 11:50 pm
Bitcoin's price momentum has sparked intense debate among market analysts as traders diverge on whether the BTC will face a deeper pullback or surge past
Bitcoin (BTC) price encountered a formidable resistance at $100,000 on Nov. 22, as nearly $300 million in sell-side liquidity stalled further gains.
BTC/USD slid to an intraday low of $97,300, down 1.2% on the day. The attempt to breach the six-figure mark faced significant sell walls, a common occurrence at key psychological levels.
“FireCharts shows a massive Bitcoin sell wall compressed between the $99.3k – $100k range,” noted trading site Material Indicators in its latest X report.
This sell-side liquidity on the largest international exchange, Binance, was noticeably distinct from other levels and had been building momentum over the past few hours.
According to market data, sell-side orders were predominantly in the $100 to $1,000 range, with large-scale holders (whales) yet to make any decisive moves.
A sell-off by whales could help test support levels, easing the path to breaking $100,000, Material Indicators suggested. With weekend trading ahead, dip-buying opportunities could emerge.
On the other hand, institutional interest remained strong, as U.S. spot Bitcoin exchange-traded funds (ETFs) recorded another day of inflows exceeding $1 billion on Nov. 21, boding well for BTC's long-term bullish outlook.
Traders Eye $90K Support or a Bullish Breakout
Opinions remained split on Bitcoin's next steps:
Bullishly, trader Roman observed bullish divergences on Bitcoin’s 4-hour relative strength index (RSI). The RSI dropped below the overbought threshold of 70, potentially signaling a continuation of the trend.
As Bitcoin navigates the $100,000 milestone, traders are monitoring liquidity shifts and technical indicators closely. Whether BTC retreats to $90,000 or surges to new highs will depend on the interplay of whale activity, institutional demand, and macroeconomic sentiment.
Related: Bitcoin price hits all-time high of $99,000, eyes $100K next
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- The Fascinating World of Rare British 50p Coins: From Benjamin Bunny to Kew Gardens
- Nov 23, 2024 at 04:25 am
- The world of coin collecting has seen a surge in interest over the years, with certain rare coins fetching eye-watering prices at auctions and on marketplaces like eBay. Among the most sought-after coins in the UK are 50p pieces, particularly those that feature unique designs or commemorate significant national events.
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- The King Charles III 50p Coin: A New Era of Collectibles
- Nov 23, 2024 at 04:25 am
- The Royal Mint has released a series of 50p coins featuring the portrait of King Charles III, but one particular coin has quickly surpassed even the iconic Kew Gardens 50p coin in terms of desirability. With the growing interest in coin collecting, it’s now more important than ever to check your change — you may be holding onto a hidden treasure that could be worth much more than its face value.
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- XRP (XRP) Keeps Attracting Interest With Its Increasing Price Trajectory as Rexas Finance (RXS) Emerges a Possible Rival
- Nov 23, 2024 at 04:25 am
- XRP has increased 4.34% over the previous 24 hours, raising its market capitalization above $65 billion. With analysts speculating about the likelihood of a major price breakout, this little movement has driven forecasts that XRP might shortly break $1.50. But another growing star in the crypto scene while the globe observes XRP’s every action is Rexas Finance (RXS). A Ripple millionaire sees this coin as a major rival to XRP’s supremacy since he believes it might soar by an amazing 19,900% to $16 in the next 70 days or less.