• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Binance Founder CZ Receives Presidential Pardon From Donald Trump
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Binance Founder CZ Receives Presidential Pardon From Donald Trump
Bitcoin

Bitcoin Set To Lead A New Crypto Surge As Downside Factors Get Exhausted – Coinbase Analysts

Scott Matherson
by Scott Matherson
1 year ago
·
Posted in Bitcoin, Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin might currently be trading below a $43,500 resistance level, but analysts see this downside action slowing down and a bullish performance is set to happen anytime soon. In a recently released weekly report by crypto exchange Coinbase, many technical factors currently slowing down the price of many cryptocurrencies industry (most especially Bitcoin) are starting to become exhausted, which could lead to a more supportive trading environment.

Related Reading: Super Bowl LVIII Goes Old School: No Crypto Or AI Ads This Year

Intensifying Positive Macro Backdrop

Price action shows Bitcoin has majorly traded below $43,700 since the middle of January, as the launch of spot ETFs ushered in mixed reactions from the market. Despite averaging billions in weekly flows, the ETFs also exerted downward pressure on the price of Bitcoin, particularly with a sizable sell-off of shares in the Grayscale BTC Trust exchange-traded fund (ETF) led by defunct crypto exchange FTX.

Coinbase analysts, on the other hand, have observed that the dynamics are beginning to shift toward a more favorable trading environment, as the rate of selloffs has now slowed down. To back up this claim, the report noted the emergence of crypto lending company Celsius Network from bankruptcy and the recent inflows into spot Bitcoin ETFs. Notably, these ETFs averaged more than $200 million daily inflows last week, with an average daily volume of $1.35 billion.

BTCUSD slightly below the $43K level today. Chart: TradingView.com

The report also highlighted the factors in the current US economy that may contribute to a positive crypto market trend. The market factors include the US budget deficit widening and a savings winddown by American households points to activity and inflation, increasing the possibility of a better crypto market than it was months ago. 

Also, analysts anticipate a slowdown in the economy during the first half of the year. As a result, the Federal Reserve’s easing tactics could include cutting interest rates by 100 basis points this year. Ultimately, this would coincide with the much anticipated Bitcoin halving, leading to a spike in the prices of Bitcoin and other cryptocurrencies.

Coinbase’s report also touched on Solana’s renewed ecosystem being propped up by token launches like the recent airdrop for Jupiter, Solana’s leading decentralized exchange aggregator.

Related Reading: 3-Year High: Bitcoin (BTC) Investor Sentiment Surges – Details

Current State Of Bitcoin

Bitcoin saw its undergoing little spikes multiple times last week, with one instance leading to a 4.57% increase on January 30th. However, the crypto majorly bounced between $41,800 and $43,700 during the week with the most perambulation around $42,500 to $42,900. According to a social media post by crypto analyst Ali Martinez, 912,626 BTC has now been transacted within the $42,560 price range, making it the most significant interest zone to date. 

An impressive total of 912,626 #BTC has been transacted within the $42,560 price range, marking it as the most significant interest zone for #Bitcoin to date! pic.twitter.com/jdR0vtxWVE

— Ali (@ali_charts) February 2, 2024

At the time of writing, Bitcoin is trading at $42,800, down by 0.64% in the past 24 hours.

Featured image from Adobe Stock, chart from TradingView

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.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Scott Matherson

Scott Matherson

Follow

Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

Full Profile

Related Posts

ETF crypto bloqués : 155 demandes en attente à cause du shutdown américain

ETF crypto bloqués : 155 demandes en attente à cause du shutdown américain

9 hours ago
Trump Pardons CZ, Shakes Up Grok’s Price Prediction for $BNB and Best Altcoins to Buy

Trump Pardons CZ, Shakes Up Grok’s Price Prediction for $BNB and Best Altcoins to Buy

10 hours ago
China officieel top 3 crypto mining - BTC koers naar $200k in 2025

China officieel top 3 crypto mining – BTC koers naar $200k in 2025?

10 hours ago
Bitcoin

Cum va arăta prețul Bitcoin la final de octombrie?

11 hours ago
Tesla

Tesla Rides Bitcoin Rally To $80 Million Profit In Q3

11 hours ago
XRP Futures Surge at CME: Is a Price Breakout Looming for Top Altcoins?

XRP Futures Surge at CME: Is a Price Breakout Looming for Top Altcoins?

11 hours ago

Premium Sponsors

Press Releases

  • Snorter Bot...

    20 hours ago
  • ORIGIN Protocol's LGNS Achieves Historic Milestone: Liquidity Tops $194 Million, Reclaiming Title as Global Leader in DeFi

    ORIGIN Protocol’s LGNS Achieves Major Milestone...

    2 days ago
  • bonus kcex

    Bonus KCEX: promozione da $21.000 con un bonus deposito del...

    3 days ago
  • Maxi Doge

    Защо Maxi Doge може да се окаже...

    3 days ago
  • 挖 1 枚比特幣耗電可供 61...

    3 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.