Technical Indicators Project Potential Move to $107K
The post Technical Indicators Project Potential Move to $107K appeared on BitcoinEthereumNews.com. TLDR Bitcoin trading above $97,000 amid optimism over potential U.S.-China trade talks Analysts project Bitcoin could reach $100K-$107K based on technical indicators Strong institutional demand continues with $1.5B in Bitcoin ETF inflows Short-term holder activity signals accumulation phase similar to previous rallies AI tokens gaining traction with Kava Labs reaching 100,000 users Bitcoin’s price has surged above $97,000 during Asian trading hours as markets respond positively to news of potential trade talks between the U.S. and China. Despite some skepticism about a deal being reached soon, the cryptocurrency market is showing renewed optimism after earlier concerns about tariffs. “The U.S. has proactively reached out to China through multiple channels, hoping to hold discussions on the tariff issue,” according to Chinese state media posts. This development has helped Bitcoin recover from the price drop triggered by the White House’s announcement of tariffs earlier this year. Market participants now have $100,000 Bitcoin back in their sights. Bitcoin Price on CoinGecko The broader crypto market is also seeing gains. Dogecoin (DOGE) led major cryptocurrencies with a 4% rise in the past 24 hours. Other coins like Cardano’s ADA, XRP, Ethereum (ETH), and BNB increased between 1-3%, with the CoinDesk 20 index rising 2.2%. On the prediction market Polymarket, bettors are giving only a 20% chance of a U.S.-China trade deal happening by June. This cautious outlook reflects concerns that the hawkish rhetoric from the White House may delay any agreement. Technical Indicators Point Higher Several on-chain metrics support a bullish outlook for Bitcoin. Crypto analyst Willy Woo expects Bitcoin to move to $108,000 next, while liquidation heatmaps project a $107,000 target. The MVRV (Market Value to Realized Value) ratio has bounced off the 1.74 level after testing it on April 8, hitting 2.14 currently. This pattern is similar to the August-September 2024 trend…
The post Technical Indicators Project Potential Move to $107K appeared on BitcoinEthereumNews.com.
TLDR Bitcoin trading above $97,000 amid optimism over potential U.S.-China trade talks Analysts project Bitcoin could reach $100K-$107K based on technical indicators Strong institutional demand continues with $1.5B in Bitcoin ETF inflows Short-term holder activity signals accumulation phase similar to previous rallies AI tokens gaining traction with Kava Labs reaching 100,000 users Bitcoin’s price has surged above $97,000 during Asian trading hours as markets respond positively to news of potential trade talks between the U.S. and China. Despite some skepticism about a deal being reached soon, the cryptocurrency market is showing renewed optimism after earlier concerns about tariffs. “The U.S. has proactively reached out to China through multiple channels, hoping to hold discussions on the tariff issue,” according to Chinese state media posts. This development has helped Bitcoin recover from the price drop triggered by the White House’s announcement of tariffs earlier this year. Market participants now have $100,000 Bitcoin back in their sights. Bitcoin Price on CoinGecko The broader crypto market is also seeing gains. Dogecoin (DOGE) led major cryptocurrencies with a 4% rise in the past 24 hours. Other coins like Cardano’s ADA, XRP, Ethereum (ETH), and BNB increased between 1-3%, with the CoinDesk 20 index rising 2.2%. On the prediction market Polymarket, bettors are giving only a 20% chance of a U.S.-China trade deal happening by June. This cautious outlook reflects concerns that the hawkish rhetoric from the White House may delay any agreement. Technical Indicators Point Higher Several on-chain metrics support a bullish outlook for Bitcoin. Crypto analyst Willy Woo expects Bitcoin to move to $108,000 next, while liquidation heatmaps project a $107,000 target. The MVRV (Market Value to Realized Value) ratio has bounced off the 1.74 level after testing it on April 8, hitting 2.14 currently. This pattern is similar to the August-September 2024 trend…
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