Bitcoin has surged to a new all-time high, approaching the $90K threshold in an impulsive rally. The combination of another Federal Reserve rate cut and President Trump\u2019s re-election has fostered a risk-on sentiment in the markets, driving demand for risk assets like Bitcoin.<\/p>\n
By Shayan<\/a><\/p>\n On the daily chart, Bitcoin\u2019s price action reflects a robust shift toward a bullish market structure. It recently broke past both the 100-day and 200-day moving averages with significant momentum and reached an ATH of $90K.<\/p>\n On the other hand, the 100-day MA has crossed above the 200-day MA, marking a Golden Cross. This technical indicator signals bullish dominance, sparking FOMO among participants who are rushing to accumulate Bitcoin.<\/p>\n However, after this sharp rise, the market is expected to enter a corrective retracement phase. For this pullback, the 0.5 ($74K) to 0.618 ($70K) Fibonacci retracement levels, aligned with Bitcoin\u2019s prior swing high, may serve as critical support zones, providing a target for profit-taking and re-entry in the mid-term.<\/p>\n <\/a>Source: TradingView<\/p>\n On the 4-hour chart, Bitcoin remains in a bullish price channel, consistently marking higher highs and higher lows, which is characteristic of a healthy uptrend.<\/p>\n The price recently saw a strong rebound from the channel\u2019s lower boundary near $70K, fueling the push to the new ATH of $90K.<\/p>\n Now that the price has reached the channel\u2019s upper boundary, consolidation is underway. For the short term, a period of distribution near this level is expected, followed by a slight correction back to the channel\u2019s middle boundary around $80K.<\/p>\n Although the current uptrend is strong, caution is advised against FOMO. The market often offers multiple opportunities for strategic entries, and a healthy correction would provide a more sustainable foundation for future gains.<\/p>\n <\/a>Source: TradingView<\/p>\n By Shayan<\/a><\/p>\n Bitcoin\u2019s recent surge to a new all-time high of $90K has prompted many market participants to take profits, with miners notably contributing to the selling pressure.<\/p>\n The Miners Position Index (MPI), which gauges miners\u2019 selling pressure, has surged past the critical level of 2, marking a yearly high. Values above two typically signal intensified selling pressure from miners. This spike suggests that miners are offloading a substantial portion of their holdings, likely to cover operational costs given Bitcoin\u2019s elevated price levels.<\/p>\n Since miners hold a considerable share of Bitcoin\u2019s supply, their increased selling can intensify overall selling pressure, especially if it coincides with a reduction in demand. However, in the current context, where market participants have already been profit-taking at ATH levels, there is an increased risk of price corrections. Without sufficient buy-side support in the short term, the market may experience a deeper retracement as the selling continues.<\/p>\n <\/a>Source: CryptoQuant<\/p>\n The post Bitcoin Price Analysis: Will BTC Rally to $100K or Correct Below $80K First?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin has surged to a new all-time high, approaching the $90K threshold in an impulsive rally. The combination of another Federal Reserve rate cut and President Trump\u2019s re-election has fostered a risk-on sentiment in the markets, driving demand for risk assets like Bitcoin. Technical Analysis By Shayan The Daily Chart On the daily chart, Bitcoin\u2019s […]<\/p>\n","protected":false},"author":0,"featured_media":20188,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-20187","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/20187"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20187"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/20187\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/20188"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}The Daily Chart<\/h3>\n
The 4-Hour Chart<\/h3>\n
On-chain Analysis<\/h2>\n
![<\/a>Source: TradingView<\/p>\nThe 4-Hour Chart<\/h3>\nOn the 4-hour chart, Bitcoin remains in a bullish price channel, consistently marking higher highs and higher lows, which is characteristic of a healthy uptrend.<\/p>\nThe price recently saw a strong rebound from the channel\u2019s lower boundary near $70K, fueling the push to the new ATH of $90K.<\/p>\nNow that the price has reached the channel\u2019s upper boundary, consolidation is underway. For the short term, a period of distribution near this level is expected, followed by a slight correction back to the channel\u2019s middle boundary around $80K.<\/p>\nAlthough the current uptrend is strong, caution is advised against FOMO. The market often offers multiple opportunities for strategic entries, and a healthy correction would provide a more sustainable foundation for future gains.<\/p>\n<\/a>Source: TradingView<\/p>\nOn-chain Analysis<\/h2>\nBy Shayan<\/a><\/p>\nBitcoin\u2019s recent surge to a new all-time high of $90K has prompted many market participants to take profits, with miners notably contributing to the selling pressure.<\/p>\nThe Miners Position Index (MPI), which gauges miners\u2019 selling pressure, has surged past the critical level of 2, marking a yearly high. Values above two typically signal intensified selling pressure from miners. This spike suggests that miners are offloading a substantial portion of their holdings, likely to cover operational costs given Bitcoin\u2019s elevated price levels.<\/p>\nSince miners hold a considerable share of Bitcoin\u2019s supply, their increased selling can intensify overall selling pressure, especially if it coincides with a reduction in demand. However, in the current context, where market participants have already been profit-taking at ATH levels, there is an increased risk of price corrections. Without sufficient buy-side support in the short term, the market may experience a deeper retracement as the selling continues.<\/p>\n<\/a>Source: CryptoQuant<\/p>\nThe post Bitcoin Price Analysis: Will BTC Rally to $100K or Correct Below $80K First?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Bitcoin has surged to a new all-time high, approaching the $90K threshold in an impulsive rally. The combination of another Federal Reserve rate cut and President Trump\u2019s re-election has fostered a risk-on sentiment in the markets, driving demand for risk assets like Bitcoin. Technical Analysis By Shayan The Daily Chart On the daily chart, Bitcoin\u2019s […]<\/p>\n","protected":false},"author":0,"featured_media":20188,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-20187","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/20187"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20187"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/20187\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/20188"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/11\/BTC-D-scaled.jpg\"){kind=link}
![<\/a>Source: TradingView<\/p>\nOn-chain Analysis<\/h2>\nBy Shayan<\/a><\/p>\nBitcoin\u2019s recent surge to a new all-time high of $90K has prompted many market participants to take profits, with miners notably contributing to the selling pressure.<\/p>\nThe Miners Position Index (MPI), which gauges miners\u2019 selling pressure, has surged past the critical level of 2, marking a yearly high. Values above two typically signal intensified selling pressure from miners. This spike suggests that miners are offloading a substantial portion of their holdings, likely to cover operational costs given Bitcoin\u2019s elevated price levels.<\/p>\nSince miners hold a considerable share of Bitcoin\u2019s supply, their increased selling can intensify overall selling pressure, especially if it coincides with a reduction in demand. However, in the current context, where market participants have already been profit-taking at ATH levels, there is an increased risk of price corrections. Without sufficient buy-side support in the short term, the market may experience a deeper retracement as the selling continues.<\/p>\n<\/a>Source: CryptoQuant<\/p>\nThe post Bitcoin Price Analysis: Will BTC Rally to $100K or Correct Below $80K First?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Bitcoin has surged to a new all-time high, approaching the $90K threshold in an impulsive rally. The combination of another Federal Reserve rate cut and President Trump\u2019s re-election has fostered a risk-on sentiment in the markets, driving demand for risk assets like Bitcoin. Technical Analysis By Shayan The Daily Chart On the daily chart, Bitcoin\u2019s […]<\/p>\n","protected":false},"author":0,"featured_media":20188,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-20187","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/20187"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20187"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/20187\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/20188"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/11\/BTC-4H-scaled.jpg\"){kind=link}
![<\/a>Source: CryptoQuant<\/p>\nThe post Bitcoin Price Analysis: Will BTC Rally to $100K or Correct Below $80K First?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Bitcoin has surged to a new all-time high, approaching the $90K threshold in an impulsive rally. The combination of another Federal Reserve rate cut and President Trump\u2019s re-election has fostered a risk-on sentiment in the markets, driving demand for risk assets like Bitcoin. Technical Analysis By Shayan The Daily Chart On the daily chart, Bitcoin\u2019s […]<\/p>\n","protected":false},"author":0,"featured_media":20188,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-20187","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/20187"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20187"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/20187\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/20188"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/11\/Bitcoin-Miners-Position-Index-MPI-scaled.jpg\"){kind=link}