Bitcoin recently dropped from nearly $74,000 to a low of about $59,000 before rebounding above $60,000. Analysts highlight a key indicator, the MVRV Pricing Bands, suggesting the most important support level near $43,200, which could mark the market bottom. This drop coincided with shifts in speculative interest toward AI stocks and SpaceX's IPO. Some experts believe Bitcoin's cycle low may have been reached around $59,000, with potential for a price recovery toward $100,000 by year-end if buying momentum returns.
Standard Chartered analyst Geoffrey Kendrick reaffirmed the bank's year-end price targets of $100,000 for Bitcoin and $4,000 for Ethereum following a recent market selloff. He identified the Bitcoin drop to around $59,000 as the likely cycle low and ...
Bitcoin surged above $64,000 after Iran and the US signaled major progress toward a peace agreement, easing geopolitical tensions and boosting risk appetite. US Vice President J.D. Vance confirmed the deal is near, while Iran's Foreign Minister echoe...
Bitcoin remains near $63,780 as on-chain data shows a pattern typical of past bear markets, with long-term holders averaging a cost basis of $49,500 and short-term holders at $72,500. Analysts note that historically, when short-term holders' cost bas...
On June 12, U.S. spot Bitcoin ETFs recorded a total net inflow of $85.85 million, with BlackRock's IBIT leading by attracting $57.69 million. Fidelity's FBTC added $18 million, while Grayscale's GBTC and BTC showed no net inflows. The total net asset...
Bitcoin is attempting a short-term breakout above a descending resistance line after consolidating in a symmetrical triangle pattern. Analysts note that if Bitcoin holds above this breakout zone, it could target resistance near $65,000 and potentiall...
