Unfortunately for Bitcoin bulls, the cryptocurrency market isn’t starting 2020 off on the right foot. According to data from CoinMarketCap, the price of BTC has fallen by 3.5% in the past 24 hours, tumbling below $7,000 to trade around $6,800 for the umpteenth time in a few weeks’ time.
This latest move to trade in the $6,800s is the second leg of a decline that began on Thursday morning, when Bitcoin suddenly lost the support of $7,000 after trading above that key level through Christmas and New Year’s Day.
Despite this bearish price action, analysts are convinced that BTC is ready to bounce.
Related Reading: Ethereum is In for a Big Drop, but the Rally That Follows Could Be Massive
Why Bitcoin Price May Soon See Strong Bounce
On Tuesday, prominent cryptocurrency trader Filb Filb published the below chart to his Telegram feed, showing that he expects for Bitcoin to retrace to see a wave correction to $6,777 in the week following the date of his prediction.
The chart notes that after that correction takes place, a nearly 15% bounce could be seen that will bring BTC back to the high-$7,000s by the middle of January.
Yes, Filb Filb’s timing on the move to the $6,800s is off per the chart. However, the trader has been extremely accurate in calling the directionality of this market over recent months, calling the pop-up to $7,500 and the reversal just earlier this week. Also, Filb Filb called the move to the $6,000s in October, further adding credence to his latest forecast that Bitcoin is poised to bounce back to the $7,000s.
Secondly, the funding rate on BitMEX has begun to drift well into the negative (predicted funding is -0.0045% in ten hours), implying that a short squeeze could take place that will likely send Bitcoin back above $7,000.
And lastly, per previous reports from NewsBTC, Bitcoin’s hash rate — the measure of computational power processing BTC transactions — hit a new all-time high on the 1st day of 2020. The all-time high, 119 exahashes per second, or 119 with 18 zeroes after it.
This metric validates the idea that miner capitulation is over, and that now is a prime time to start accumulating the leading cryptocurrency before a recovery higher.
Related Reading: 2020 Will Be a Great Year for Bitcoin; These Factors Could Fuel an Insane Bull Run
Featured Image from Shutterstock The post appeared first on NewsBTC. origin »
Bitcoin’s price rallied above $95,000 during the last 24 hours, signalling a definitive shift in market structure rather than a simple volatility spike. According to CryptoSlate's data, the top crypto rose by more than 3% to reach a high of over $96,000, its highest price level since mid-November.
Bitcoin price crossed above the $94,000 psychological resistance to top $95,000 with an intraday high of around $95,804, just shy of $96,000. BTC is up [...]
Bitcoin has been locked in a tight consolidation range since late November, frustrating traders and fueling growing speculation about a major move ahead. Volatility has compressed, price has stabilized near key psychological levels, and market participants are increasingly divided on what comes next.
Bitcoin is starting the year with strength, but not without turbulence. After briefly dipping below $92,000 yesterday, the BTC price quickly reclaimed that level and turned it back into short-term support.
Bitcoin had a strong start to 2026. The initial days were filled with supportive market actions such as stable price movements, good demand in the spot markets, and no indication of panic selling.
Bitcoin price surged into the new year, supported by renewed optimism and strong spot ETF inflows. The crypto king pushed higher despite geopolitical tension following the US strike on Venezuela.
The price of Bitcoin seems to be positioning for a renewed bullish phase following its positive start to the new year. The premier cryptocurrency closed 2025 with a range-bound price performance, recording no significant movement in the past month of December.
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The Bitcoin price rose to above $90,200 on Monday. Bulls failed to hold onto gains, and the price dropped to $86,717. Bulls are looking to strengthen as analysts point to continued. It’s been a difficult last few weeks of 2025 for crypto, and Bitcoin (BTC) showed that this will likely continue into early 2026 as […]
The post Bitcoin price consolidates near $87K as downside risk persist appeared first on CoinJournal.
Since the short squeeze in mid-December, Bitcoin has yet to make any significant price gain, facing multiple rejections at the $90,000 price zone. The maiden cryptocurrency is presently consolidating within the $87,000, while investors patiently anticipate a clear market direction.
Crypto chartist Ali Martinez has pointed out a potential downtrend on the Bitcoin price chart. According to him, the price of Bitcoin could dump to $40k based on a historical pattern. In other news, investors are jumping ship to DeepSnitch AI.
Bitcoin has continued to trend lower on the back of selling pressure building across the market. In fact, the world's largest cryptocurrency is now well off its all-time high of close to $126k, with BThe post Bitcoin - All about the liquidity signals that are hinting at a price recovery in 2026 appeared first on AMBCrypto.
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The post Bitcoin Price Reclaims $90,000, Is This Dead Cat Bounce? appeared first on Coinspeaker.
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This post Bitcoin Price Crashes to $84,000 – Is $70,000 Next? first appeared on Bitcoin Magazine and is written by Micah Zimmerman.
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This One Chart Has Never Missed a Bitcoin Price Top or Bottom in 15 Years
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The bitcoin price fell on Wednesday night into Thursday, falling from $94,000 to below $90,000.
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Bitcoin (BTC) is trading in a narrow range between $92,000 and $94,000, a zone that could dictate whether the cryptocurrency rallies toward $100,000 or retraces to around $90,000.
When Strategy disclosed its acquisition of more than 10,000 Bitcoin worth $1 billion, market watchers anticipated an immediate rally. Instead, Bitcoin’s price barely moved. The muted response was not a reflection of weak demand but the result of how the purchase was executed.
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The bitcoin price is pumping this morning, currently trading above $94,000.
This post Bitcoin Price Skyrockets to $94,000 as Banks Start to Embrace Bitcoin first appeared on Bitcoin Magazine and is written by Micah Zimmerman.
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This post Bitcoin Price Skyrockets to $94,000 as Banks Start to Embrace Bitcoin first appeared on Bitcoin Magazine and is written by Micah Zimmerman.
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