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Breaking News: Fed Lowers Rates By 25bps: How Bitcoin And Crypto Prices Responded And What's Next
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Breaking News: Fed Lowers Rates By 25bps: How Bitcoin And Crypto Prices Responded And What's Next
bitcoin

Bitcoin Must Defend This Price Level To Keep ATH Hopes Alive, Analyst Says

Ash Tiwari
by Ash Tiwari
4 months ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

In a recent X post, seasoned crypto analyst Ali Martinez highlighted a critical price level that Bitcoin (BTC) must defend to maintain its hopes for a potential new all-time high (ATH). At the same time, several key indicators are pointing toward strengthening holder conviction in the leading cryptocurrency.

Bitcoin Must Hold This Price Level For New ATH

Martinez noted that if Bitcoin can decisively break through $95,500 and hold above it, then according to the Market Value to Realized Value (MVRV) Pricing Bands, the next major target for BTC could be $113,800.

mvrv
Source: ali_charts on X
Related Reading: Bitcoin Eyes $124,000 As Golden Ratio Signals More Gains Ahead – Details

Recent momentum and price action suggest that BTC could be witnessing the early stages of a fresh rally. Notably, Bitcoin recently surged above its 200-day Simple Moving Average (SMA) –  a historically bullish signal that often precedes significant price appreciation.

200 day sma
Source: ali_charts on X

Additionally, the Bitcoin Accumulation Trend Score is approaching 1, which typically signals strong accumulation. A score nearing 1 indicates that large investors are actively buying, reflecting growing confidence in a potential near-term price rally.

trend score
Source: ali_charts on X

To elaborate, the Bitcoin Accumulation Trend Score measures how much BTC is being accumulated across different wallet sizes, weighted by the size of their holdings. A score close to 1 means heavy accumulation by large holders, while a score near 0 suggests distribution or limited buying activity.

On the weekly timeframe, Bitcoin has flipped bullish as well. In a separate X post, crypto analyst Titan of Crypto pointed out that BTC closed a strong bullish weekly candle, successfully reclaiming all Ichimoku indicator lines – a development that historically supports continued upward momentum.

titan
Source: Titan of Crypto

BTC Mirroring 2021 Price Action?

Meanwhile, crypto analyst Rekt Capital made an intriguing observation regarding Bitcoin’s recent behavior. He noted that BTC appears to be mirroring its price action from 2021, following breakouts above both the 21-week Exponential Moving Average (EMA) and the 50-week EMA.

rekt
Source: Rekt Capital on X

At that time, Bitcoin surged to a new ATH of approximately $69,000 before undergoing a significant correction. If BTC follows a similar trajectory, it could potentially climb to a new ATH above $110,000.

Related Reading: Bitcoin Could Surge To Record High Amid Fed Independence Concerns: Standard Chartered

In the near term, BTC is forecasted to reclaim the $100,000 level. According to blockchain analytics firm Santiment, the flagship cryptocurrency could enter six-figure territory within as little as one to two weeks.

Adding to the bullish outlook, recent analyses based on Fibonacci Extensions and the Bitcoin State of the Trend indicator – which has turned green on the weekly chart – also predict a new ATH could be on the horizon. At press time, BTC trades at $93,696, down 0.2% in the past 24 hours.

bitcoin
BTC trades at $93,696 on the daily chart | Source: BTCUSDT on TradingView.com
Featured Image from Unsplash.com, charts from X and TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Ash Tiwari

Ash Tiwari

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Ash is a seasoned freelance editor and writer with extensive experience in the blockchain and cryptocurrency industry. Over the course of his career, he has contributed to major publications, playing a key role in shaping informative, timely content related to decentralized finance (DeFi), cryptocurrency trends, and blockchain innovation. His ability to break down complex topics has allowed both seasoned professionals and newcomers to the industry to benefit from his work. Beyond these specific roles, Ash's writing expertise spans a wide array of content, including news updates, long-form analysis, and thought leadership pieces. He has helped multiple platforms maintain high editorial standards, ensuring that articles not only inform but also engage readers through clarity and in-depth research. His work reflects a deep understanding of the rapidly evolving blockchain ecosystem, making him a valuable contributor in a field where staying current is essential. In addition to his writing work, Ash has developed a strong skill set in managing content teams. He has led diverse groups of writers and researchers, overseeing the editorial process from topic selection, approval, editing, to final publication. His leadership ensured that content production was timely, accurate, and aligned with the strategic goals of the platforms he worked with. This has not only strengthened his expertise in content strategy but also honed his project management and team coordination skills. Ash's ability to combine technical expertise with editorial oversight is further bolstered by his knowledge of blockchain analysis tools such as Etherscan, Dune Analytics, and Santiment. These tools have provided him with the data necessary to create well-researched, insightful articles that offer deeper market perspectives. Whether it’s tracking the movement of digital assets or analyzing blockchain transactions, his analytical approach adds value to the content he produces, ensuring readers receive accurate and actionable information. In the realm of content creation, Ash is not limited to just cryptocurrency markets. He has demonstrated versatility in covering other emerging technologies, market trends, and digital transformation across various industries. His in-depth research, coupled with a sharp editorial eye, has made him a sought-after professional in the freelance writing community. From developing editorial calendars to managing content delivery schedules, he has honed a meticulous approach to project management that ensures timely, high-quality work delivery. Throughout his freelance career, Ash has consistently focused on improving audience engagement through well-researched, insightful, and relevant content. His ability to adapt to the evolving needs of clients, whether it's enhancing the visibility of digital platforms or producing thought-provoking pieces for a wide range of audiences, sets him apart as a dynamic force in the field of digital content creation. His contributions have helped to shape a well-rounded portfolio that showcases his versatility, technical expertise, and dedication to elevating the standards of journalism in blockchain and related sectors.

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