DeFi Daily News
Tuesday, July 1, 2025
Advertisement
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
No Result
View All Result
Home Markets Crypto Market

rewrite this title Bitcoin On Track For $275,000? Analyst Cites Cup And Handle Formation

Ash Tiwari by Ash Tiwari
December 12, 2024
in Crypto Market
0 0
0
rewrite this title Bitcoin On Track For 5,000? Analyst Cites Cup And Handle Formation
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Telegram
Listen to this article


rewrite this content using a minimum of 1200 words and keep HTML tags

Este artículo también está disponible en español.

Bitcoin (BTC) fell to $94,500 yesterday after Microsoft shareholders decisively rejected a Bitcoin treasury proposal to allocate 1% of the company’s total assets to buy BTC as an inflation hedge. However, analysts are still confident of further appreciation of the BTC price.

Bitcoin May Surge As High As $275,000

According to data from Coinglass, over $478 million worth of contracts – primarily long positions – were liquidated in the past 24 hours following the plunge in BTC and other cryptocurrencies. Interestingly, liquidation volumes were higher in altcoins compared to Bitcoin.

Related Reading

However, some analysts view this price dip as a buying opportunity. Seasoned crypto analyst Ali Martinez took to X to highlight a long cup and handle pattern forming on Bitcoin’s weekly chart.

For those unfamiliar, the cup and handle pattern is a bullish technical formation that resembles a rounded “cup” followed by a brief consolidation period or “handle.” It typically signals the potential for a continuation of an uptrend, often leading to significant price gains.

Martinez noted that the pattern suggests Bitcoin could surge as high as $275,000, based on its technical structure. However, he also urged traders to exercise caution and avoid overleveraging their positions.

Source: ali_charts on X

On the other hand, prominent crypto analyst @Trader_XO warned that Bitcoin must maintain its support at $90,000 to avoid further downside. Should BTC lose this critical level, it could drop as low as $85,000. Conversely, holding above $90,000 would allow the cryptocurrency to rebound and resume its uptrend.

BTC Takes Another Jab At Breaking Through $100,000

Despite yesterday’s dip, Bitcoin recovered swiftly, trading near $100,000 at the time of writing. The flagship cryptocurrency has remained in an overall uptrend, likely bolstered by today’s US inflation data for November, which largely aligned with market expectations.

Related Reading

Bitcoin recently hit a new all-time high (ATH) of $103,679, according to data from CoinGecko. However, its price has fluctuated above and below the pivotal $100,000 mark, leading to over $1.5 billion in liquidations in the past week.

Several factors could drive Bitcoin’s price to a new ATH. For instance, BTC reserves on cryptocurrency exchanges have hit multi-year lows, reflecting rising demand for the digital asset.

American financier and former investment banker Anthony Scaramucci recently predicted China might establish its own Bitcoin reserve if the US proceeds with its strategic Bitcoin reserve plans. National BTC reserves are expected to reinforce Bitcoin’s supply scarcity narrative, potentially driving prices higher.

At the same time, BTC adoption among corporations continues to rise, as Canadian video-sharing firm Rumble became the latest company to unveil a BTC treasury strategy. BTC trades at $100,453 at press time, up 4.1% in the past 24 hours.

bitcoin
BTC trades at $100,453 on the daily chart | Source: BTCUSDT on TradingView.com

Featured image from Unsplash, Charts from X and TradingView.com

and include conclusion section that’s entertaining to read. do not include the title. Add a hyperlink to this website http://defi-daily.com and label it “DeFi Daily News” for more trending news articles like this



Source link

Tags: AnalystBitcoincitesCupFormationHandlerewritetitleTrack
ShareTweetShare
Previous Post

rewrite this title Australian Regulator Likens Bitcoin to Prison Currency Amid Controversial Consultation Paper – Decrypt

Next Post

rewrite this title Swapping the Digital Ledger: Revolutionizing Crypto Trades

Next Post
rewrite this title Swapping the Digital Ledger: Revolutionizing Crypto Trades

rewrite this title Swapping the Digital Ledger: Revolutionizing Crypto Trades

Leave a Reply Cancel reply

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

Search

No Result
View All Result
  • Trending
  • Comments
  • Latest
rewrite this title SEI Leads Crypto Market With 43% Weekly Surge – alt=

rewrite this title SEI Leads Crypto Market With 43% Weekly Surge – $0.5 Reclaim In The Horizon?

June 28, 2025
rewrite this title High Season, High Stakes: Navigating Summer Risks in Property Management

rewrite this title High Season, High Stakes: Navigating Summer Risks in Property Management

June 27, 2025
rewrite this title ‘FIFA Rivals’ Review: Should You Play This NFT Soccer Game? – Decrypt

rewrite this title ‘FIFA Rivals’ Review: Should You Play This NFT Soccer Game? – Decrypt

June 28, 2025
They’re Going ALL IN on Crypto: This is What Wall St is Buying!

They’re Going ALL IN on Crypto: This is What Wall St is Buying!

June 25, 2025
rewrite this title with good SEO Bitcoin Could Explode On Bessent’s 0 Billion Deregulation Shock

rewrite this title with good SEO Bitcoin Could Explode On Bessent’s $250 Billion Deregulation Shock

May 28, 2025
Rough N’ Rowdy 25 FREE PREVIEW | Watch 20 Fights + Ring Girl Contest TONIGHT

Rough N’ Rowdy 25 FREE PREVIEW | Watch 20 Fights + Ring Girl Contest TONIGHT

August 9, 2024
rewrite this title ‘Talk To Me’, ‘Deadloch’ & ‘The Newsreader’ Creators Set For Australia’s Future Vision

rewrite this title ‘Talk To Me’, ‘Deadloch’ & ‘The Newsreader’ Creators Set For Australia’s Future Vision

July 1, 2025
rewrite this title X opens up to Community Notes written by AI bots

rewrite this title X opens up to Community Notes written by AI bots

July 1, 2025
rewrite this title Bitcoin dips to 5k on Q3 open despite record monthly close

rewrite this title Bitcoin dips to $105k on Q3 open despite record monthly close

July 1, 2025
rewrite this title with good SEO Tron Shows Adoption Strength As Volume Still Led By Big Transfers – Details

rewrite this title with good SEO Tron Shows Adoption Strength As Volume Still Led By Big Transfers – Details

July 1, 2025
rewrite this title and make it good for SEOStocks to Track: Asian Paints, Grasim, Lupin, Paras Defence, MOIL, other scrips to be in focus on July 2

rewrite this title and make it good for SEOStocks to Track: Asian Paints, Grasim, Lupin, Paras Defence, MOIL, other scrips to be in focus on July 2

July 1, 2025
Joe Rogan Experience #2343 – Joe Pistone

Joe Rogan Experience #2343 – Joe Pistone

July 1, 2025
DeFi Daily

Stay updated with DeFi Daily, your trusted source for the latest news, insights, and analysis in finance and cryptocurrency. Explore breaking news, expert analysis, market data, and educational resources to navigate the world of decentralized finance.

  • About Us
  • Blogs
  • DeFi-IRA | Learn More.
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.