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Cryptocurrency News Articles
Bitcoin (BTC) Price May Rise In 2025 Based On Experts’ Prediction But H&S Pattern Signals Caution
Jan 10, 2025 at 06:43 pm
Bitcoin price was locked within a narrow trading range of $92,000 to $102,000. With this, most price action was confined to this $10,000 zone.
The price of Bitcoin remained largely confined within a narrow trading range of $92,000 to $102,000 this week.
This limited price action was primarily dictated by the surging yield on the U.S. 30-year Treasury Bond (US30Y), which approached the critical 5% threshold for the first time in two years.
This development brought unease to the crypto market and other financial sectors, as safer assets like the US30Y became more attractive, putting pressure on riskier investments.
As a result, both Bitcoin and Ethereum prices struggled to maintain upward momentum. Despite strong fundamentals, these digital assets remained weighed down by the rising bond yields.
However, Bitcoin's price has not fully succumbed to bearish pressure. Throughout the week, strong buying activity helped sustain Bitcoin's price, keeping it above key support levels.
As stated by several analysts at CryptoQuant, Bitcoin’s MVRV ratio suggested the asset has yet to reach its cycle peak. This indicated that the Bitcoin price is in a consolidation phase and could potentially be gearing up for another rally as market momentum builds.
This optimism was reflected in a modest 2% uptick in the Bitcoin price, which currently stood at $94,713. The cryptocurrency boasts a market capitalization of $1.87 trillion, commanding a dominant 56.7% sector share. Continue reading.
Bitcoin Price Inverse Correlation To US30Y In Depth
A glance at the daily charts of the US30Y and Bitcoin revealed a striking inverse correlation, especially during the pivotal Q4 2024 U.S. election period.
The timeline can be traced back to November 6, when bearish pressure first emerged on the US30Y and the Bitcoin began its parabolic ascent. The BTC price kept surging, and on December 5, this inverse relationship became even more pronounced.
The US30Y dropped to 4.325%, while Bitcoin price surged past the $100,000 mark, peaking at $104,000 that day. This marked Bitcoin’s official price high within the inverse dynamic against US30Y.
Following this, the inverse correlation was out of balance for some days as the US30Y started to reverse its fall. However, the Bitcoin price rally didn’t stop; instead, Bitcoin’s rally stretched further. Several optimistic factors pushed Bitcoin to an all-time high of $108,000 by December 17, 2024.
However, the tables turned shortly afterward. As the US30Y reversed its downward trend and broke its November peak of 4.5%, it started a new climb. This resurgence in bond yields coincided with a sharp correction in Bitcoin’s price during the final two weeks of the year as profit-taking intensified.
The pressure on the Bitcoin price has persisted into 2025. The BTC was still unconscious with the blow driven by the US30Y’s upward trajectory.
Can Bitcoin Price Rise In 2025 Based On Experts’ Prediction Or Fall With H&S Pattern?
The US30Y was edging closer to a critical threshold, currently at 4.944%. It was just 0.056% away from the symbolic 5% mark. This steep rise in yields has overshadowed the Bitcoin price prospects.
As long as US30Y climbs, Bitcoin will remain under pressure, struggling to break free from its downward trajectory. Several analysts noted that US30Y may reverse the course and decline.
If this happens, the Bitcoin price could gain the momentum needed to fulfill bullish predictions from experts like VanEck and Bitwise. They foresee massive gains in the cryptocurrency’s value.
However, should US30Y breach the 5% barrier, Bitcoin’s price upward potential could be buried, too. Even on the technical front, Bitcoin’s daily price chart revealed a worrying development. Moreover, the Head & Shoulders pattern, a classic bearish indicator, has formed.
The Bitcoin price is now hovering around the neckline of this pattern, signaling a critical juncture. If US30Y rises sharply again, it could catalyze the token to lose its crucial support at $92,000.
In that condition, such a breakdown could pave the way for a decline toward Bitcoin’s Q1 2024 peak of around $73,000, which could mark a significant retracement.
Despite Strong Bearishness In Bitcoin Price, Crypto Quant Analyst Says Room For More Growth
CryptoQuant’s latest analysis highlighted Bitcoin’s MVRV 100-day moving average, which currently stood at 2.14. This MVRV ratio is used to identify potential market tops and bottoms by comparing Bitcoin’s market valuation to its
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- Shiba Inu Price Pressure: Why Are Crypto Whales Dumping Their SHIB Holdings For WallitIQ (WLTQ)?
- Jan 11, 2025 at 01:40 am
- Currently trading at around $0.000023, the Shiba Inu price has endured a tough month, experiencing a sharp 22% decline. With diminishing returns and growing uncertainty surrounding the Shiba Inu price's future, crypto whales holding substantial SHIB reserves are shifting their focus to more stable and lucrative ventures.