ADVERTISEMENT
  • About
  • Advertisement
  • Disclaimer
  • Term Of Use
  • DMCA
  • Privacy Policy
  • Cookies Policy
  • Sitemap
  • Submit Guest Post
  • Contact Us
Best Crypto Blog Website
  • HOME
  • COINS
    • ICO
    • AIRDROPS
  • MINING
  • TRADE
    • COINS
  • PR
  • NEWS
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • Crypto News
    • DEFI NEWS
    • Ethereum News
    • Government News
    • NFT NEWS
    • Ripple News
  • CASINO
  • MORE
    • WALLET
    • INVESTMENT
    • Affiliate Program
    • Buy Crypto
    • CLOUD MINING
    • DEFI
    • Exchange
    • Fintech
    • Forex
    • Lending
    • NFT
    • Web Hosting
No Result
View All Result
Wootfi Media
  • HOME
  • COINS
    • ICO
    • AIRDROPS
  • MINING
  • TRADE
    • COINS
  • PR
  • NEWS
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • Crypto News
    • DEFI NEWS
    • Ethereum News
    • Government News
    • NFT NEWS
    • Ripple News
  • CASINO
  • MORE
    • WALLET
    • INVESTMENT
    • Affiliate Program
    • Buy Crypto
    • CLOUD MINING
    • DEFI
    • Exchange
    • Fintech
    • Forex
    • Lending
    • NFT
    • Web Hosting
No Result
View All Result
Wootfi Media
No Result
View All Result
ADVERTISEMENT

Bitcoin’s Soaring Ascent: Will the Rally Continue or Falter Near $70K?

Pressweb Team by Pressweb Team
10/03/2024
Bitcoin's Soaring Ascent: Will the Rally Continue or Falter Near $70K?
Share on FacebookShare on Twitter

Bitcoin’s Current Price Surge

Bitcoin’s Soaring Ascent : Bitcoin, the pioneer cryptocurrency, is currently at the verge of a full-size milestone as its fee steadily inches in the direction of the $70,000 mark. At the time of writing, Bitcoin’s price stands at a super $69,515.Ninety eight, reflecting a bullish sentiment within the marketplace. However, amidst this surge, concerns loom over the possibility of a looming correction that could potentially drag Bitcoin’s rate all the way down to $sixty six,000.

Insight into BTC’s Price Movement

The latest surge in Bitcoin’s price has garnered interest from crypto lovers and investors worldwide. According to a tweet by using Captain Faibik on March 9th, Bitcoin should enjoy a further uptick of up to ten% if it successfully surpasses the $sixty nine,000 threshold. This optimism is supported by way of statistics from CoinMarketCap, indicating a 2% increase in Bitcoin’s price during the last 24 hours.

Bearish Signals Emerge

Despite the bullish momentum, several metrics endorse a likely downturn in Bitcoin’s charge trajectory. One such metric is Bitcoin’s Network Value to Transactions (NVT) ratio, which has witnessed a tremendous uptick in current days. The NVT ratio serves as a essential indicator of a cryptocurrency’s valuation relative to its on-chain transaction volume. A surge within the NVT ratio frequently signals an overvaluation of the cryptocurrency, potentially main to a correction.

Additionally, evaluation from CryptoQuant highlights bearish indicators, with BTC’s aSORP (All Stablecoin Supply Ratio Oscillator) indicating a occurrence of profit-taking among traders. Furthermore, the Binary Coin Days Destroyed (CDD) metric suggests increased promoting interest amongst lengthy-term holders, probably exacerbating downward strain on Bitcoin’s price.

Potential Correction and Support Levels

In the event of a rate correction, Bitcoin is in all likelihood to locate sturdy brief-time period help in the $sixty six,000 to $sixty five,000 range. Technical indicators along with the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) further support the possibility of a downturn. The MACD displays an ongoing battle among bulls and bears, whilst the RSI teeters on the point of coming into the overbought quarter, signaling a capability increase in promoting strain.

As Bitcoin continues its upward trajectory in the direction of the $70,000 mark, traders stay carefully positive approximately the cryptocurrency’s destiny. However, the emergence of bearish indicators and the opportunity of a rate correction underscore the inherent volatility of the crypto marketplace. Whether Bitcoin will preserve its rally or succumb to downward pressure stays to be visible, however traders have to stay vigilant in navigating these turbulent waters.

Pressweb Team

Pressweb Team

Next Post
Band Protocol Leads the Way with Oracle-Stellar Smart Contract Integration

Band Protocol Leads the Way with Oracle-Stellar Smart Contract Integration

LATEST ARTICLE

How Do i Create a Crypto Wallet – Step-by-Step Guide
Guide

How Do i Create a Crypto Wallet – Step-by-Step Guide

by Volvo
02/09/2025
0

This article is a step-by-step guide on creating a crypto wallet. If you’re a beginner in the cryptocurrency world and...

Read moreDetails
10 Best fintechzoom.com Crypto News

10 Best fintechzoom.com Crypto News

02/09/2025
Paypal Venmo add Chainlink Solana Crypto

Paypal Venmo add Chainlink Solana Crypto

01/09/2025
10 Best Bitcoin Wallets 2025 – Secure & User-Friendly Crypto Storage

10 Best Bitcoin Wallets 2025 – Secure & User-Friendly Crypto Storage

01/09/2025
Why Did Gama Fail Crypto? Key Reasons Behind Its Collapse

Why Did Gama Fail Crypto? Key Reasons Behind Its Collapse

31/08/2025
WOOTFI LOGO

Wootfi Mile Blog

Wootfi.com is a comprehensive review platform that specializes in providing accurate, up-to-date information on the latest developments in the world of cryptocurrencies, forex, DeFi, crypto wallets, and AI. Our team of experienced writers and analysts are passionate about their work and committed to delivering high-quality content to our readers.

Categories

  • Affiliate Program
  • AIRDROPS
  • Artificial intelligence
  • Best Crypto Wallet
  • Bitcoin News
  • Blockchain News
  • Buy Crypto
  • Cardano News
  • CASINO REVIEW
  • CLOUD MINING
  • COINS
  • Crypto News
  • Crypto Press Release
  • DEFI
  • Earning Survey Sites
  • Education Platform
  • Ethereum News
  • Exchange
  • Features
  • Finance
  • Fintech
  • Forex
  • Format Folder
  • Government News
  • Guide
  • ICO
  • Investment
  • Lending
  • News
  • NFT
  • NFT NEWS
  • Press Release
  • Ripple News
  • Uncategorized
  • WALLET
  • Web Hosting
  • About
  • Advertisement
  • Disclaimer
  • Term Of Use
  • DMCA
  • Privacy Policy
  • Cookies Policy
  • Sitemap
  • Submit Guest Post
  • Contact Us

© 2023 WOOTFI - Develop by WOOTFI.
All content on Wootfi.com is provided solely for informational purposes, and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security, product, service or investment. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. For More Details Contact Us At - support@wootfi.com .

No Result
View All Result
  • HOME
  • COINS
    • ICO
    • AIRDROPS
  • MINING
  • TRADE
    • COINS
  • PR
  • NEWS
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • Crypto News
    • DEFI NEWS
    • Ethereum News
    • Government News
    • NFT NEWS
    • Ripple News
  • CASINO
  • MORE
    • WALLET
    • INVESTMENT
    • Affiliate Program
    • Buy Crypto
    • CLOUD MINING
    • DEFI
    • Exchange
    • Fintech
    • Forex
    • Lending
    • NFT
    • Web Hosting

© 2023 WOOTFI - Develop by WOOTFI.
All content on Wootfi.com is provided solely for informational purposes, and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security, product, service or investment. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. For More Details Contact Us At - support@wootfi.com .