Bitcoin Breaks $70,000: 10x Research Predicts 'Critical' Week For The 'Next 15,000-Point Move'
Portfolio Pulse from Khyathi Dalal
Bitcoin (BTC) has surpassed the $70,000 mark, experiencing a 6.4% rally and a 63% increase in trading volumes. 10x Research highlights the upcoming week as critical for Bitcoin's direction, predicting a potential 15,000-point move influenced by both bearish and bullish factors. Bearish factors include negative Bitcoin ETF flows and a drop in altcoin volumes, while bullish factors encompass dovish central banks, the Bitcoin halving event, and a favorable risk-assets environment. The market's focus on the Fed's dovish stance could signal a bullish sentiment for Bitcoin, with a key level at $68,300 to watch.
March 25, 2024 | 7:07 pm
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Bitcoin has surged past $70,000, influenced by a mix of bearish and bullish factors. The upcoming week is deemed critical by 10x Research, which could lead to a significant price movement. The market's reaction to the Fed's dovish stance and the nearing Bitcoin halving event are key factors to watch.
Bitcoin's recent rally above $70,000 and the 63% increase in trading volumes indicate strong market momentum. The mix of bearish and bullish factors, alongside the Fed's dovish comments, suggest a potentially bullish outlook for Bitcoin in the short term. The critical level of $68,300 and the upcoming Bitcoin halving event are pivotal factors that could influence Bitcoin's price movement significantly.
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