Bitcoin price has nearly doubled in price after the historic collapse that occurred in mid-March took the asset back to under $4,000 at the low.
The first-ever cryptocurrency has reclaimed a critically important level that in the past has acted as a launchpad for a record-breaking, over 40% rally in under 48 hours. Is Bitcoin price refueling its jets for another explosive rally, or will the cryptocurrency reject from the powerful support turned resistance?
Bitcoin Price Reaches Key Level Responsible For Previous Historic Rally
At the start of 2020, Bitcoin price rallied from under $7,000 to well over $10,000 before the coronavirus outbreak sent markets spiraling out of control.
Once fear took hold of markets, Bitcoin and the rest of the crypto market suffered catastrophic record-breaking losses, dropping over 50% in a single day in many cases.
Related Reading | Rough Week Ahead, Correlation With Stock Market Could Be Deadly for Bitcoin
Bitcoin price plummeted to a low of $3,800 thanks to a combination of cascading liquidations and panic selling driving the price of the leading cryptocurrency by market cap to prices not traded at since over a year prior.
But since the dust settled on the devastating drop, Bitcoin price has been on a tear, rallying through key resistance levels and up through $6,000 and now $7,000.
The cryptocurrency yesterday reached a high of $7,430 – a level that acted as a launchpad for a record-breaking rally in the past.
Bitcoin has reached $7430
This is the same price point from which Bitcoin rallied +40% in late October 2019 when the Chinese President publicly endorsed blockchain$BTC #Crypto #Bitcoin
— Rekt Capital (@rektcapital) April 7, 2020
Will The Record-Breaking China Pump Repeat? Or Has Support Turned Resistance?
Bitcoin price has revisited $7,450, the low set just ahead of the record-breaking “China pump.”
In October 2019, news broke that Chinese President Xi Jinping urged his citizens to stay on the forefront of blockchain technology that powers cryptocurrencies like Bitcoin, Ethereum, and others.
Many took this as a nod of support for Bitcoin and other cryptocurrencies, while others insist that the surge was due to whales seizing an opportunity to squeeze out shorts via a news-driven rally – a move that clearly worked.
Related Reading | Bitcoin Price Just Death Crossed, But Last Time Led To Historic China Pump
Whatever the case, Bitcoin price rallied from $7,430 to $10,500 in under 48 hours, setting a record for the third-largest single-day gain in the asset’s young history.
During that time, however, the level was acting as support, and not resistance, making a repeat of that powerful move less likely. The level could also act as similarly powerful resistance, causing a devastating move to the downside if Bitcoin price is rejected from the clearly critical level.
The first-ever cryptocurrency has a lot to prove in facing its first recession since its inception, and how it survives here could help the asset reach its full potential as a viable replacement for fiat currencies and the dollar.
Featured image from Shutterstock origin »
Bitcoin price drifted upwards this week after the Federal Reserve delivered a mixed interest rate decision on Wednesday. Bitcoin (BTC) recovered to a high of $87,375, its highest level since March 7, and up by 13% from its lowest level…
The Bitcoin price closed the past week on a positive note and will be hoping to start the new week on an even stronger foot. However, sideways movement has been a constant feature in the weekend price action of Bitcoin so far in 2025.
Bitcoin price has climbed about 6% over the past four days, with yesterday alone seeing a 3% jump. Cryptocurrency analytics firm Santiment has provided some explanation for this growth. Santiment points out that Bitcoin rally back to $84,500 on Friday shows what typically happens when Monday traders prematurely call for selling.
Bitcoin’s price movement recently has underscored the importance of the short-term holder (STH) cost basis as a key momentum indicator. It has emerged as a vital threshold for the sentiment of this market.
Bitcoin price has remained under pressure in the past few months as it moved into a technical bear market after falling by 20% from its highest level this year. Bitcoin (BTC) and other altcoins have important catalysts that may push…
Bitcoin’s second-worst February on record is set to extend into a new week, with price burdened by “aggravating macro factors” and a technical correction.
Bitcoin price remains in a technical correction, and the ongoing correction could persist for a few weeks. Bitcoin (BTC) bottomed at $82,177 this week as it briefly moved into a bear market. It has since crawled back to $86,200 following…
The price of Bitcoin has been going down, breaking below the key 3-month support at around $90,000. The coin now trades at around $86,000. It has declined by 10% in the last 3 days. Solana has also followed in the same direction.
The cryptocurrency market has gone mainstream. It is no longer retail investors’ assets as institutions globally are investing in Bitcoin and other major cryptocurrencies. As a risk-based asset, Bitcoin’s price is affected by central bank policies, especially those from the United States Federal Reserve.
Will this legacy cryptocurrency become bullish once again? Let’s find out in this Bitcoin Cash price prediction. Bitcoin Cash is a cryptocurrency associated with Bitcoin, yet it hasn’t performed like the leader of all cryptocurrencies. Its price action has lagged…
The recent drop in Bitcoin price to $95,000 has gotten traders worried and made them reconsider their plans. A major crypto analyst, Arthur Hayes has warned traders to be aware of an incoming loss. While Bitcoin price is having a hard time growing, a new altcoin called RCOF is gaining a lot of attention. Experts [...]
Crypto traders can be reasonably happier today than yesterday after experiencing the worst crash in history with over $2. 3 billion liquidated within 24 hours. However, Bitcoin price quickly rebounded from $91k to over $100k while Ethereum managed to recover from $2.
Bitcoin price surged to $102K as buying pressure increased, signaling sustained upward momentum
Strong market participation and positive sentiment suggested Bitcoin may challenge new resistanceThe post Bitcoin: How can BTC push its price past the $106k resistance? appeared first on AMBCrypto.
Through a series of gains and losses in the past week, the price of Bitcoin (BTC) recorded no significant overall change indicating widespread market uncertainty despite the inauguration of pro-crypto Donald Trump as US President.
Bitcoin is facing a key resistance at $106k, while testing critical support at $101k
NVT golden cross at -2.21 historically signals local bottoms and potential price reversal
Bitcoin [BTC], The post Bitcoin - Where are the signs of a local bottom and a price reversal? appeared first on AMBCrypto.
Bitcoin price surged to reclaim the $100,000 level on Jan. 15 as the flagship digital asset emerged from a turbulent start to the year. After weathering bearish pressure near the $90,000 area this past week, Bitcoin (BTC) price steadily climbed…
The Bitcoin price has struggled to break above the $100,000 threshold decisively over the past four weeks, largely fluctuating within the $90,000 to $100,000 range. This correction and lackluster price action have caused a degree of bearish sentiment among traders, with some speculating that Bitcoin might have already reached its peak for the current cycle. […]
Bitcoin price is consolidating losses below the $95,500 zone. BTC is showing bearish signs and might struggle to recover above the $95,800 level. Bitcoin started a recovery wave from the $91,150 zone.
Although Bitcoin’s recent price drop led many to wonder whether this is the end of its euphoria. However, as it’s looking to turn out, all BTC really did was go into healthy consolidation after a big move in December.
Bitcoin Cash has formed a sell signal on its MACD indicator, which could cause a price decline to $365.
Despite the bearish trends, traders on Binance are betting on further price increases.
Bitcoin tested the $92,000 level yesterday after falling from a weekly high of $102,000 as sell pressures mounted. Macroeconomic factors cause doubts about the market strength as sticky inflation becomes a concern.
The price of Bitcoin has shown no significant movement in the past day following a price rebound at the start of January 2025. Currently trading near $98,000, speculation is mounting about whether Bitcoin has exited its correction phase, with high expectations of an impending bull market.
Although Bitcoin is having a rough moment this week, with prices oscillating between $93k and $96k, at least one popular crypto commentator is predicting a massive price run soon. According to Ted Boydston, the market should prepare for a manic bull run in the coming days, with Bitcoin’s price targeting $225k.
Bitcoin stands at a critical crossroads, with its price hovering near the crucial $93,257 support level. This key price point has acted as a stronghold for the cryptocurrency during its recent ascent, but now, the market is facing mounting pressure.
Bitcoin price has moved into a technical correction and found support at the 50-day moving average. Bitcoin (BTC) retreated to $94,830, down by over 12% from its highest level this month as the Santa Claus rally failed to materialize. The…
Over the last few weeks, the Bitcoin price has been on a downward trend, experiencing significant declines that have pushed it below its all-time high above $104,000. Despite this price crash, a crypto analyst has predicted that Bitcoin could recover from this slump and potentially reach a new ATH at $107,000.
Crypto analyst TradingShot has provided insights into the Bitcoin price recovery to $150,000. He analyzed the Fibonacci levels to provide insights into how Bitcoin could reach this new high, although the analyst suggested that there could be more price correction before that happens.
Bitcoin needs to dip much harder to deliver even standard December downside, data shows, as BTC price targets continue to focus on the mid-$80,000 area.
Bitcoin has endured days of underwhelming price action, retreating from its all-time high of $108,364 to a local low of $92,100. Despite this sharp pullback, the price structure remains bullish, fueling optimism among analysts and traders who believe Bitcoin’s rally could resume at any moment.
Bitcoin’s price reached a new all-time high of $108,000 this month, which has seen retail and institutions FOMO into BTC. Bitcoin’s trading volume now sits at a daily rate of about $77 billion, indicating increased inflows.
Bitcoin price has had a strong performance this year as it jumped by 120%, beating popular assets like the Nasdaq 100 and the S&P 500 indices. Bitcoin (BTC) has retreated to $97,000 from the all-time high of $108,427 after the…
Veteran trader Peter Brandt updated his Bitcoin price outlook in a recent viral tweet. Looking at Brandt’s chart analysis, a clear right-angled broadening triangle pattern has emerged in Bitcoin’s recent price action.
Bitfinex analysts believe the increasing Bitcoin institutional adoption will create strong demand-side pressure, making Bitcoin price dips in 2025 short and temporary.
Bitcoin price rallied to a record high of $108,000 on Dec. 17, continuing a bull run that began in 2023. Bitcoin (BTC) has surged by nearly 150% this year, driven by rising demand and decreasing supply growth. The unwinding of…
Bitcoin has shattered its all-time high, reaching $106,500 just a few hours ago, setting the stage for an even bigger move. After trading in a sideways range within an ascending triangle for weeks, the price finally broke through the crucial $103,600 resistance level established on December 5.
The Bitcoin price has continued its foray above the $100,000 threshold and is currently trading around new all-time highs. Following its recent surge to an all-time high (ATH) above $106,000, the Bitcoin price has played out an interesting pattern on the 1-day candlestick timeframe, which points to an extremely bullish outlook for the leading cryptocurrency.
Crypto exchange Bithumb is under investigation as South Korean police have raided the company’s headquarters. This action is in response to claims of embezzlement directed against Kim Dae-sik, the former chief executive officer.
Chinese electric car company Zeekr is integrating Minima’s blockchain to enable a tokenized system for secure charging station reservations. Minima, a decentralized blockchain network, is collaborating with European arm of Chinese electric car maker Zeekr to launch a charging solution…
The crypto market is bracing for major token unlocks over the next seven days, which could lead to more volatility ahead. According to data from Tokenomist, the crypto space will see a little over $428 million in token unlocks between…
The crypto market continues to struggle with downward pressure, with over $230 million in liquidations recorded in a single day. Per data from Coinglass, total liquidations were up 157% in the past 24 hours.
Bounce Token soared more than 36% on Sunday, gaining to an intraday high of $36. 17. Analysts predict a breakout for AUCTION price. Bounce Token (AUCTION) has surged by an impressive 36% over the past 24 hours, emerging as among top gainers in the 500 largest coins by market cap.
In a significant move that solidifies Bitcoin Magazine’s presence in Asia, HK Asia Holdings (01723. HK) has announced key leadership changes effective March 14, 2025. This development marks a pivotal moment for Bitcoin Magazine’s expansion strategy in the region.
Ethereum (ETH) developers are set to launch Hoodi, a new long-lived testnet, on March 17 as they work to resolve ongoing challenges with the highly anticipated Pectra upgrade. The testnet will primarily focus on validator exit mechanisms, one of the final hurdles before Pectra can move forward.
