Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Bitcoin has to close more than $ 107,000 to confirm the outbreak or the risk of falling to $ 98,000

2025-05-18

Solana Price has $ 166 support after rejection of $ 183, breakout above $ 177 very important

2025-05-18

Capital One pays $ 425,000,000 to customers after they have reportedly cheated customers from a higher return on bank balance

2025-05-18
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    Chainware and Karatdao work together to redefine security and identity in chains

    2025-05-18

    Declan Hannon about how Aurora Labs makes blockchain accessible to everyone

    2025-05-18

    Ailayer forges Alliance with Gaea to create a decentralized AI-driven metaverse

    2025-05-18

    Space and time, Nvidia, publishes Sub-Second ZK Prover for SQL

    2025-05-18

    Interview with Nieuwe Lukso Coo

    2025-05-18
  • NFT

    The most popular collections of the moment on blockchain

    2025-05-18

    Raoul Pal sees NFT market exploding when Ethereum Bull Cycle is approaching

    2025-05-17

    Ethereum is at the top of the charts in weekly NFT sales with $ 44.7 million in sales volume

    2025-05-16

    Founder wallet emptied while he leaves

    2025-05-15

    British Museum puts sculptures from Dürer’s ‘Rhinoceros’ on Bitcoin Blockchain

    2025-05-14
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    The American stock market now looks more favorable than pre-trade war, according to Tom Lee from Fundstrat-Dit why is why

    2025-05-18

    Michael Burry van Big Short abruptly sells one ‘recession-proof’ assets

    2025-05-17

    $ 40 billion in XRP on the road – where are they going?

    2025-05-17

    Bitcoin who sees heavy accumulation on Coinbase and Binance, says analysis company Glassnode – here is the prospects

    2025-05-17

    Analyst who mentioned XRP price mark at $ 0.5 says that the increase in this level is coming

    2025-05-17
  • Learn

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-10
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Bitcoin»What’s next for Bitcoin? The bulls are not exhausted yet
Bitcoin

What’s next for Bitcoin? The bulls are not exhausted yet

2023-07-05No Comments4 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

After Bitcoin hit a new yearly high at $31,413, the buy side has so far failed to initiate a trend-following move to the north. While the bulls fended off a sell-off last Friday in the wake of the SEC’s perceived concerns over a Bitcoin spot ETF approval, the momentum seems to be leveling off more and more, isn’t it?

What’s next for the Bitcoin price?

As the market awaits approval from the Security and Exchange Commission (SEC) regarding a spot Bitcoin exchange-traded fund (ETF), investors appear to be cautious. While open interest in the Bitcoin futures market continues to rise, activity in the spot market has recently declined.

This shift indicates that the price action of the past few days has been primarily influenced by futures traders. Analyst @52Skew noted on Twitter, “$BTC Spot CVDs & Delta: Still quite a bit of spot being dumped in the market + no limit being chased by coin-based buyers today. Spot bid liquidity $30.5K.

This finding underscores the reticence of spot market investors who may be waiting for a decisive move from the SEC. However, it should be noted that US markets were closed yesterday due to the 4th of July holiday. Recently, a huge spot buying volume came from Coinbase, driving the market up. So today will be interesting to see if yesterday’s retracement is bought by US investors today.

Bitcoin’s dominance, which had risen to resistance at 52.15%, has now consolidated somewhat and is down to 51.25%. This consolidation, coupled with the entry of investors into the altcoin sector, reinforces the prevailing wait-and-see attitude among investors.

See also  Bitcoin miners may face this double whammy

Analyzing the Bitcoin price, it is clear that the market is currently facing strong resistance in the $31,300 to $31,416 range. The $30,700 support area is currently proving to be a critical point to watch. Remaining above this support could give buyers the chance to launch a renewed offense.

Bitcoin BTC price
Bitcoin Price, 2 Hour Chart | Source: BTCUSD at TradingView.com

If Bitcoin price can dynamically break out above its year-to-date high, the next major chart hurdle awaits at $32,500. Still, a temporary return to the support area at $29,800 could be acceptable to gain momentum for the next breakout attempt.

So far, the bears have had no follow-up. The sell side also failed in its attempt to sell back BTC price in the higher time frames below the psychologically important $30,000 level in recent days. The bears’ goal should be to push Bitcoin permanently below $29,800.

Experts remain bullish for now

Noted analyst Josh Rager believes the pullback won’t be as deep as many experts expect, suggesting that ETF approval, particularly from BlackRock, is a real possibility. He says, “Only a rejection of an ETF can cause pain, but I think BlackRock will be approved this time.” add:

The $24,000 then up sentiment seems to be quite popular. I think people think too much about it. The same was said about Bitcoin having to swipe $20,000 first. IMO, pullbacks won’t be that deep now and if we manage to see $25k again, it won’t be until later in the year after more upside before that.

Similarly, NewsBTC chief analyst Tony “The Bull” believes in the near-term bullish case for BTC. However, he emphasizes the importance of Bitcoin’s Relative Strength Index (RSI) entering overbought territory, as it cannot assign a lack of strong upside momentum:

I want Bitcoin RSI to move into overbought conditions by the end of the weekend or I’m worried this isn’t momentum yet. We have a weekly doji, which indicates indecisiveness. We must continue this week or more correction becomes more likely with possible bear div.

Featured image from iStock, chart from TradingView.com

See also  Bitcoin [BTC]: Are global markets entering a liquidity cycle? If so, here's how BTC will respond



Source link

Bitcoin Bulls exhausted Whats
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin has to close more than $ 107,000 to confirm the outbreak or the risk of falling to $ 98,000

2025-05-18

Bitcoin bulls are confronted with Make-Or-Break-moment at $ 106,500 Resistance details

2025-05-18

Equities RIP higher as Bitcoin lags behind – a new market reality to watch!

2025-05-18

Bitcoin -price could prepare for a new wave of volatility – this is why

2025-05-18
Add A Comment
Leave A Reply Cancel Reply

Top Posts

How Bitcoin’s Slight 3% Rise Caused a Rise in Open Interest

2024-10-13

Approximately 182 Individuals Globally Now Own Crypto Worth at Least $100,000,000, According to a New Study

2023-09-09

Uniswap Labs denounces SEC’s misguided attempts to regulate DeFi

2024-05-21
Editors Picks

US Government Dumped 9,800 Bitcoin From Silk Road Saga, Plans To Sell 41,000 BTC By 2023

2023-04-28

Can the resistance crush and re -design the rally?

2025-05-12

Bitcoin price forms a bullish pennant on the three-day chart, the $145,000 target comes into view

2024-11-29

The Tron market enters the stability phase

2025-01-25
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Bitcoin has to close more than $ 107,000 to confirm the outbreak or the risk of falling to $ 98,000

Solana Price has $ 166 support after rejection of $ 183, breakout above $ 177 very important

Capital One pays $ 425,000,000 to customers after they have reportedly cheated customers from a higher return on bank balance

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$104,330.451.06%
  • ethereumEthereum(ETH)$2,417.78-2.72%
  • tetherTether USDt(USDT)$1.000.01%
  • rippleXRP(XRP)$2.391.55%
  • binancecoinBNB(BNB)$644.170.41%
  • solanaSolana(SOL)$168.310.61%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2253834.29%
  • cardanoCardano(ADA)$0.74-0.41%
  • tronTRON(TRX)$0.265846-2.14%
  • suiSui(SUI)$3.81-0.51%
  • chainlinkChainlink(LINK)$15.470.73%
  • avalanche-2Avalanche(AVAX)$22.40-0.12%
  • stellarStellar(XLM)$0.2877590.53%
  • hyperliquidHyperliquid(HYPE)$26.391.96%
  • shiba-inuShiba Inu(SHIB)$0.0000152.60%
  • hedera-hashgraphHedera(HBAR)$0.1925831.04%
  • unus-sed-leoUNUS SED LEO(LEO)$8.67-3.14%
  • bitcoin-cashBitcoin Cash(BCH)$398.331.59%
  • the-open-networkToncoin(TON)$3.111.26%
  • litecoinLitecoin(LTC)$98.912.06%
  • polkadotPolkadot(DOT)$4.660.43%
  • moneroMonero(XMR)$342.281.85%
  • bitget-tokenBitget Token(BGB)$5.092.74%
  • pepePepe(PEPE)$0.0000137.74%
  • daiDai(DAI)$1.00-0.01%
  • piPi(PI)$0.736.45%
  • ethena-usdeEthena USDe(USDE)$1.00-0.01%
  • uniswapUniswap(UNI)$5.912.92%
  • bittensorBittensor(TAO)$415.55-1.83%
  • aaveAave(AAVE)$224.770.77%
  • nearNEAR Protocol(NEAR)$2.751.77%
  • aptosAptos(APT)$5.08-0.42%
  • okbOKB(OKB)$52.72-0.91%
  • ondo-financeOndo(ONDO)$0.931.03%
  • kaspaKaspa(KAS)$0.1097610.80%
  • internet-computerInternet Computer(ICP)$5.190.54%
  • ethereum-classicEthereum Classic(ETC)$18.170.05%
  • gatechain-tokenGateToken(GT)$21.570.27%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.972.03%
  • crypto-com-chainCronos(CRO)$0.0974550.26%
  • mantleMantle(MNT)$0.730.70%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2358611.68%
  • vechainVeChain(VET)$0.0281831.60%
  • render-tokenRender(RENDER)$4.560.46%
  • ethenaEthena(ENA)$0.3727875.56%
  • usd1World Liberty Financial USD(USD1)$1.00-0.01%
  • filecoinFilecoin(FIL)$2.851.97%
  • algorandAlgorand(ALGO)$0.2204081.94%
  • cosmosCosmos(ATOM)$4.811.53%
  • bitcoinBitcoin(BTC)$104,330.451.06%
  • ethereumEthereum(ETH)$2,417.78-2.72%
  • tetherTether USDt(USDT)$1.000.01%
  • rippleXRP(XRP)$2.391.55%
  • binancecoinBNB(BNB)$644.170.41%
  • solanaSolana(SOL)$168.310.61%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2253834.29%
  • cardanoCardano(ADA)$0.74-0.41%
  • tronTRON(TRX)$0.265846-2.14%
  • suiSui(SUI)$3.81-0.51%
  • chainlinkChainlink(LINK)$15.470.73%
  • avalanche-2Avalanche(AVAX)$22.40-0.12%
  • stellarStellar(XLM)$0.2877590.53%
  • hyperliquidHyperliquid(HYPE)$26.391.96%
  • shiba-inuShiba Inu(SHIB)$0.0000152.60%
  • hedera-hashgraphHedera(HBAR)$0.1925831.04%
  • unus-sed-leoUNUS SED LEO(LEO)$8.67-3.14%
  • bitcoin-cashBitcoin Cash(BCH)$398.331.59%
  • the-open-networkToncoin(TON)$3.111.26%
  • litecoinLitecoin(LTC)$98.912.06%
  • polkadotPolkadot(DOT)$4.660.43%
  • moneroMonero(XMR)$342.281.85%
  • bitget-tokenBitget Token(BGB)$5.092.74%
  • pepePepe(PEPE)$0.0000137.74%
  • daiDai(DAI)$1.00-0.01%
  • piPi(PI)$0.736.45%
  • ethena-usdeEthena USDe(USDE)$1.00-0.01%
  • uniswapUniswap(UNI)$5.912.92%
  • bittensorBittensor(TAO)$415.55-1.83%
  • aaveAave(AAVE)$224.770.77%
  • nearNEAR Protocol(NEAR)$2.751.77%
  • aptosAptos(APT)$5.08-0.42%
  • okbOKB(OKB)$52.72-0.91%
  • ondo-financeOndo(ONDO)$0.931.03%
  • kaspaKaspa(KAS)$0.1097610.80%
  • internet-computerInternet Computer(ICP)$5.190.54%
  • ethereum-classicEthereum Classic(ETC)$18.170.05%
  • gatechain-tokenGateToken(GT)$21.570.27%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.972.03%
  • crypto-com-chainCronos(CRO)$0.0974550.26%
  • mantleMantle(MNT)$0.730.70%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2358611.68%
  • vechainVeChain(VET)$0.0281831.60%
  • render-tokenRender(RENDER)$4.560.46%
  • ethenaEthena(ENA)$0.3727875.56%
  • usd1World Liberty Financial USD(USD1)$1.00-0.01%
  • filecoinFilecoin(FIL)$2.851.97%
  • algorandAlgorand(ALGO)$0.2204081.94%
  • cosmosCosmos(ATOM)$4.811.53%