Cypher
(BTC) Bitcoin News TodayBitcoin TrendsCryptocurrency TrendsPrice Analysis

These Positive Signals Show Bitcoin will soon Launch a Bullish Rally

The leading asset failed many times to cross $10k in recent some days. Every time, Bitcoin tried to jump at the hands of whales, the selling pressure made its full effort to push it downward. Besides coin’s failure to overcome the important psychological level, the analysts are still bullish about it, expecting a bull run in the coming days.

After mid-March crash, leading digital coin has made significant progress, and it is still bullish. The resistance at 10,000 is much strong, and it has enough momentum to stop Bitcoin rally in the upward direction. But analysts have pointed toward many metrics which are signaling towards bullish levels in the next some days.

The analytical startup Santiment shared the data, which shows whales are increasing in numbers. For example, since June 3, more than 70 addresses newly joined the Bitcoin network, which contained BTC from 100 to 1,000.

The activity of the BTC movement in and out of the exchanges also signals about the direction in which the price value is going. Over the past 3 months, exchanges have seen a significant increase in BTC withdrawals.  The rise in the BTC movement from exchanges to the investors’ wallets tells that they are willing to hold Bitcoin instead of selling.

📰 Also read:  BREAKING: Bitcoin Breaks New Ground Surpassing $71K, Ethereum Reaches New Peaks

Bitcoin will attain $11k First, then Nasdaq

A prominent digital assets supporter and investor, Maple Leaf Capital, created a poll and asked its followers’ community about which one was going to achieve $11,000 first. According to the result, 43% of people think that Bitcoin will gain the $11k mark first than its traditional competitor, Nasdaq, which gains only 16% of votes.

While 41% think that none of them is going to touch $11,000. It may be possible as a great recession in the economy is coming. Fed Chair Jerome Powell recently claimed,” This is the biggest economic shock, in the U.S. and in the world, really, in living memory.”

Retail Interest is growing

The subsidiary Twitter alerts account of the analytical firm Glassnode reveals that retail BTC wallets have reached an all-time high. Glassnode noticed,” $BTC Number of Addresses Holding 0.1+ coins just reached an ATH of 3,054,282.000.”

This post is brought to you by OMC Markets

📰 Also read:  Nigeria Dismisses Rumor of $10 Billion Binance Fine

Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.

📰 Also read:  A Comprehensive Guide to Bitcoin Futures ETFs

Cypher

OMC Markets

OMC Markets is a trader from the OMCMarkets.com trading desk and a new writer for Tokenhell. OMC Markets brings you opinions, cryptocurrency price analysis and trending news articles that can help signal which crypto coin you should invest in today on the OMC Markets trading platform.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Skip to content