Despite GBTC's significant outflows and concerns about market absorption, Bitcoin manages to maintain support at $40,000. The market remains uncertain, with conflicting forecasts from analysts and traders.
SanyaBitcoin tests resistance at $49,000, but a downturn breaches key supports at $45,000, signaling a short-term bearish trend. Critical resistance lies at $43,250, while downside risks persist below $41,500. Traders closely monitor these levels for market direction.
EdmundAt 8 o'clock last night, BTC, which had been breaking away from the 45k sideways position since 6 o'clock in the evening, reached the fastest acceleration of its downward decline. In just 2 hours, it went from 45k pins to nearly 40k.
JinseFinanceA sharp fall in the cryptocurrency's price in May and June appears to have coincided with the increase in wallet addresses holding more than one Bitcoin.
CointelegraphNow, strong hands have bought nearly all of the supply from those who bought BTC at November's all-time high and capitulated.
CointelegraphSupport and resistance aside, it's all about the yearly pivot for Bitcoin price action, says Decentrader's Filbfilb.
Cointelegraph$40,000 remains a hurdle for BTC price, but traders still agree that the current range is a zone for accumulation.
CointelegraphWith little comfort on the daily chart, analysts once more zoom out to explain the lack of momentum on the market.
CointelegraphThe majority of traders expect fresh Bitcoin price losses after a difficult end to the week, data suggests.
CointelegraphMarkets took a turn for the better after BTC reclaimed $40,000, and the excitement over Elon Musk buying Twitter translated to a 20% pump for DOGE price.
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