NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Bitcoin’s Recent Action Eerily Identical to $10,500 Top, Buyers Be Aware

Nick Chong
Nick Chong
1 year ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Despite the bearish macroeconomic view, Bitcoin has performed extremely well over the past few weeks, rallying from the $3,700 lows to a high of $7,500 just last week. Even after a slight correction, the cryptocurrency remains around 90% higher than it did during the “Black Thursday” crash.

But, some analysts are starting to worry that with the rallying pausing, there’s potential for bulls to reverse the trend.

Bitcoin Looks Almost Exactly as it Did When It Topped at $10,500

Cryptocurrency trader DonAlt recently shared the below chart, showing that while the recent daily candles have not been “super bearish,” it is “awfully close to how the $10,000 top played out” pointing to structural similarities between that time frame and now.

The asset following the playbook it made last time it saw such similar price action will see it tumble off a cliff in the coming weeks, likely to retest the lows.

The similarities between the two time periods don’t stop there.

Cryptocurrency analyst Mayne indicated that Bitcoin is currently in the midst of printing out a rising wedge pattern, which is what marked the $10,500 top as well. Rising wedges are textbook bearish, meaning BTC could fall from here.

Related Reading: Analyst: This Textbook Bottom Could Send XRP Price 100% Higher

It This Time Different?

Considering the charts shared by DonAlt and Mayne, there is no denying the ongoing price action is similar to that seen when Bitcoin topped in February. But, can it be said that “this time is different?” Can it be said that BTC will shun off these bearish technical factors?

Yes, for there is now a confluence of decisively positive technical, on-chain, and fundamental factors that weren’t present back when BTC topped out earlier this year. The factors that could be listed are many, but here are a few of many:

  • There’s been a strong increase in the number for “daily new entities on the Bitcoin network.” The metric’s seven-day moving average, which calculates the number of new users entering the BTC network, has risen from the 6,000 lows in mid-March to 17,000 just recently, an increase of nearly 200% in just a few weeks’ time. This is interesting as the metric hasn’t been this high since around April 2019, as the rally from the $3,000s and $4,000s bottom to the $14,000 peak by late-June was starting.
  • According to data from Skew.com, after yet another series of prints, the value of all circulating USDT supply has risen to $6.7 billion, $2.2 billion higher (or 42% higher) than the approximately $4.5 billion market cap seen at the start of March.
  • Over the past few weeks, we’ve seen governments and central banks mobilize more than they ever before to stop the coronavirus outbreak and the economic effects related to this. Many say this will be positive for Bitcoin as the cryptocurrency is scarce. 
Related Reading: Ethereum Firm Launches Controversial Product, and the Crypto Community Isn’t Pleased
Photo by Marc-Olivier Jodoin on Unsplash
Tweet123Share214ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

È Appena Iniziato il Superciclo di Liquidità di Bitcoin, Dice il CEO di un Hedge Fund

Bitcoin ha toccato un nuovo record sopra i 122.000 $ nella mattina del 14 luglio, estendendo il rally che dura...

clararosati 3 hours ago
Dogecoin price news

Fibonacci Maps Dogecoin Path To $23—Is It Too Far-Fetched?

The Dogecoin weekly structure is once again the talk of Crypto-Twitter after pseudonymous technician Cantonese Cat (@cantonmeow) published a logarithmic...

Jake Simmons 3 hours ago
bitcoin-booms-bitcoin-hyper-raises-2-5m-btc-l2-bet

Bitcoin Booms, and So Does Bitcoin Hyper — $2.5M Raised as Investors Bet on $BTC L2

Bitcoin has just surpassed the $120K mark, signaling a strong return of investor confidence. As capital flows beyond Bitcoin, altcoins...

Aaron Walker 3 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Bitcoin Price Trajectory To $155,000: Why No Major Dips Are Expected From Here

Scott Matherson 25 minutes ago
portofel crypto multi-chain non-custodial

De ce ai nevoie de un portofel crypto de calitate?

antonio 44 minutes ago
Bitcoin

Bitcoin Ignites Intraday Optimism With A Step Past $119,000 Threshold

Godspower Owie 1 hour ago

Premium Sponsors

Press Releases

  • まだ知られていない価値あるアルトコイン3銘柄

    ...

    2 minutes ago
  • 2017年初頭のイーサリアムが8ドルで買えた頃に似たチャンス──9000%の成長が期待できる手頃な価格の仮想通貨おすすめ2選

    ...

    13 minutes ago
  • ETHRANSACTION Core Breakthrough! New users get $19 starter...

    2 hours ago
  • 2 jeftine kriptovalute s potencijalom rasta od 9.000% –...

    2 hours ago
  • Predviđanje Cijene Snorter Token (SNORT) – Analiza i Projekcije 2025–2030

    Fartcoin, dogwifhat Tăng Mạnh – Snorter Được Dự...

    2 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.