Permainan judi slot online terbaik

slot hoki terpercaya

  • About
  • Contact
  • Privacy Policy
  • bitcoinBitcoin$19,136.75-0.55%
  • ethereumEthereum$1,062.341.56%
  • xrpXRP$0.313001-0.28%
  • bitcoin cashBitcoin Cash$103.721.67%
Cryptovibes.com - Daily Cryptocurrency and FX News
  • Home
  • News
  • Analysis
  • Crypto
  • Autotrading
    • Bitcoin Robot Guide
    • Bitcoin Future
    • Bitcoin Millionaire Pro
    • Bitcoin Pro
    • Bitcoin Loophole
    • Bitcoin Up
    • Bitcoin Storm
    • Bitcoin SuperSplit
    • Bitcoin Supreme
    • Bitcoin System
    • Bitcoin Fortress
    • Immediate Edge
    • Bitcoin Profit
    • Bitcoin Trader
    • Bitcoin Bank
    • Bitcoin Union
    • BitQT
    • Bitcoin Prime
    • Profit Compass
    • Bitcoin Champion
    • Bitcoin Optimizer
    • PBN Invest
    • Quantum AI
    • Celebrities
      • Teeka Tiwari Investment plan
      • Kate Winslet Bitcoin
      • Holly Willoughby Bitcoin
      • Ant McPartlin Bitcoin
      • Nicole Kidman Bitcoin
      • James McAvoy Bitcoin
      • Jim Davidson Bitcoin
      • Peter Lim Bitcoin
      • Jonathan Ross Bitcoin
      • Bear Grylls Bitcoin
      • Phillip Schofield Bitcoin
      • Mike Hosking Bitcoin
      • Ryan Reynolds Bitcoin
      • Dick Smith Bitcoin
    • Broker Reviews
      • Herdos Review
      • FXTB Review
  • Disclaimer
  • PR
No Result
View All Result
Cryptovibes.com - Daily Cryptocurrency and FX News
No Result
View All Result

Bitcoin Flirts With $25K, How High Can It Go?

John Wanguba by John Wanguba
December 26, 2021
in Analysis
Reading Time: 5min read
Bitcoin Flirts With $25K, How High Can It Go?

Bitcoin is still growing leaps and bounds setting new highs every few days in its current price discovery phase. After setting a new all-time high on Christmas, the flagship crypto did not stop there. During the Asian hours on December 26, bitcoin surged and briefly surpassed the $25K mark setting a new high at $25,013.

However, the crypto has receded slightly since then and it seems like it is consolidating gains above $24,700. After the latest strong rally, traders, analysts, and investors are looking at all short-term bear and bull scenarios.

Currently, the market sentiment around bitcoin remains highly positive although there are some worries put forward by analysts in the foreseeable future and as a result, the next move is not quite clear-cut.

Volatility was quite high as the previous all-time high of $24,670 just gave way before resistance resumed in the market. Based on exchange order book data, the sellers are ready at $25,000 and that area is currently forming a strong psychological barrier that is under growing attack from the bulls.

For now, it is highly speculative to determine where the price of bitcoin will head from here. Nevertheless, multiple levels must remain strong for this rally to continue. Additionally, many indicators can be crucial for the analysis of different charts and projecting possible zones of interest in price discovery.

The next level of interest for BTC price has formed around $25,800, the 2.618 Fibonacci level from earlier daily price movements. That zone might be the next marker for a possible peak.

In most cases, vertical rallies are not sustainable for long. Hence, a correction might happen rapidly at some point. But, projecting when that crash/correction may happen is anybody’s guess as bitcoin may easily and speedily explode to $30,000 and then record a 30% correction.

The Near Term Bitcoin Bull Case

At the moment, it is clear that the short-term bull case for the bitcoin market is based on altcoin profits cycling into bitcoin and institutional adoption and accumulation. Both of these trends are still ongoing with inflows into Grayscale continuing to increase as the altcoins lag behind bitcoin.

The CEO of CryptoQuant, Ki Young Ju, believes that bitcoin will correct when institutional buyers slow down on their buying spree. But until then, which can be determined by assessing CME future data and Grayscale’s assets under management, Ju maintains his bullish bias:

“When institutional buying stops, the price will be likely to fall sharply. The new ATH would be determined by institutional investors when they stopped buying $BTC. Till then, I’ll keep my bullish bias.”

Grayscale’s total assets under management hover around $16.3 billion. A huge chunk, over $14 billion, of that amount comes from the Grayscale Bitcoin Trust (GBTC). For the last several months, the AUM of GBTC is considered a dependable metric that gauges the institutional sentiment around bitcoin since it is normally the first point of entry for the institutional investors into the bitcoin market, especially in the United States.

That combination of the major institutional accumulation of bitcoin together with the drying liquidity of the altcoin market supports the current short-term bull case for BTC. One on-chain market analysis firm, Santiment, tweeted:

“Liquidity has decreased rapidly in the vast majority of #crypto assets outside of $BTC and $ETH as the year is coming to a close.”

This means that most of the interest in the crypto space is mainly concentrated around bitcoin. According to Material Indicators’ exchange heatmaps, the next major resistance levels for BTC are located at $25,000 and $30,000. Thus, if bitcoin breaks sustainably above $25K, it can surge towards $30K rapidly.

There are stacked sell orders that have formed above these two psychological levels. They may result in a temporary pullback after these resistance zones are breached. But until that happens, with increasing institutional demand and the altcoin market seeming lagging, the sentiment surrounding bitcoin remains highly positive.

Like what you're reading? Subscribe to our top stories
Tags: altcoin marketsaltcoin newsAltcoinsBitcoinBitcoin derivativesBitcoin Futuresbitcoin marketbitcoin newsBitcoin PriceBTCBTC marketBTC PriceBusinesscryptocrypto exchangecrypto newscryptocurrencyDerivativesGrayscaleGrayscale’s Bitcoin Trust (GBTC)

Related Posts

NY Fed Started Posting Corporate Bond Market Distress Index
Analysis

NY Fed Started Posting Corporate Bond Market Distress Index

July 3, 2022
Klarna Valuation To Plunge From $46B To $6.5B In Latest Funding Round – WSJ
Analysis

Klarna Valuation To Plunge From $46B To $6.5B In Latest Funding Round – WSJ

July 2, 2022
Deutsche Bank Analysts Expect Bitcoin To Surge To $28K By December
Analysis

Deutsche Bank Analysts Expect Bitcoin To Surge To $28K By December

July 2, 2022
Facebook Twitter Instagram Telegram RSS Youtube

Newsletter

Like what you're reading? Subscribe to our top stories
situs qq online terpercaya
probola
Menyajikan live score bola terkini
www.jamberrynails.net
adtoken.com
Agen bola
judi online slot
daftar judi slot terbaru
situs BandarQQ Online
Situs judi online Terpercaya
poker online
judi bola
slot pragmatic
situs judi bola
situs judi bola
pragmatic play
judi bola
Situs Slot TOS885

Copyright © 2017-2019 Cryptovibes.com. Price data provided by our official partner CoinGecko.

No Result
View All Result
  • Home
  • Crypto news
  • Analysis
  • Editors’ Choice
  • Entertainment
  • Press Releases
  • ICO
  • Wisdom
  • Coins List
  • Advertising
  • About FXTimes
    • Privacy Policy
    • Terms of Use
    • Donate

Copyright © 2017-2019 Cryptovibes.com. Price data provided by our official partner CoinGecko.

Situs sbobet resmi terpercaya. Daftar situs slot online gacor resmi terbaik. Agen situs judi bola resmi terpercaya. Situs idn poker online resmi. Agen situs idn poker online resmi terpercaya. Situs idn poker terpercaya.

situs idn poker terbesar di Indonesia.

List website idn poker terbaik.
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.