What is the Expected Parabolic Rally in Bitcoin Price? Analysts’ Predictions Arrived

happened recently Bitcoin Following the halving, BTC is still trading between $60,000 and $74,000. Over the last two weeks, Bitcoin’s price has been rising and was trading at around $66,377 in the middle of the London session.

Traders are eyeing support around $64,903, which is a solid support level that could hold in a sudden market sell-off.

As Koinfinans.com reported, on-chain data shows that the accumulation rate of Bitcoin whales has decreased at a remarkable rate. CoinShare’s weekly report shows that investment products in digital assets recorded an outflow of approximately $206 million, led by BTC and ETH.

However, especially when Hong Kong is in the spotlight at the end of this month. Bitcoin ETFConsidering that Bitcoin is preparing to begin trading, it seems likely that demand for BTC will increase. Additionally, the US federal funds rate is expected to be released in early May and will shed more light on interest rate cuts expected this year.

It may be safe to assume that the Bitcoin price is already on the rise, supported by BTC ETF approvals in the US and Hong Kong. BTC is retesting the bullish breakout of the 2021 all-time high, and various indicators point to an inevitable rally ahead.

To a popular crypto analyst like Rekt Capital according to, BTC is currently in an accumulation phase and is awaiting a rally based on the performance of this cycle. As a result, this analyst believes that the price will continue to consolidate, which may give altcoins room to rally.

Ali Martinez stated that the 12-hour TD Sequential indicator is giving a sell signal. Therefore, traders should be alert if the coin breaks below the support level around $65,500. In such a case, Bitcoin price It could return to the support level near $61,000.

source site-6