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

Last Time This Formation Was Seen, Bitcoin Peaked at $10,500. It’s Back Again

Nick Chong
Nick Chong
1 year ago
3 mins read
bitcoin price

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.

Bitcoin has found itself in the middle of nowhere yet again.

The cryptocurrency has been stuck in a tight range, with breakouts on either side failing as investors have been exuding feelings of indecision. The market is so indecisive that on Tuesday morning, a “Darth Maul” candle formed, whereas

Blockware Mining chief executive Matt D’Souza summed up the market trends well in a recent tweet when he wrote:

“What’s interesting is bitcoin has stayed in a range I call ‘purgatory’. 8k-11.5kish.”

An analysis shows that BTC may be poised to break lower, with a popular trading noting how the recent price action looks much like that seen at February’s $10,500 high.

Related Reading: Crypto Tidbits: $200M of Bitcoin Liquidated, Ethereum DeFi Adoption Limited, Bloomberg Is Bullish

Bitcoin Is Likely Topping Out, Historical Analysis Shows

A trader recently noted that Bitcoin’s price action over the past two weeks, with the breakout attempt at $10,400, looks almost identical to the formation that marked the $10,500 highs in February.

He shared the chart below illustrating the similarities with the following comment, which suggests BTC could soon dive lower:

“Bitcoin already had something similar before: a very specific fakeout shape followed by a lot of the squeezes in both directions.”

Image
BTC fractal analysis shared by trader “CryptoHamster”

Not the Only Sign of An Imminent Peak

The trader’s historical analysis is far from the only signaling indicating that the Bitcoin market is rapidly approaching a peak.

One trader shared the chart below on June 6th with the following comment:

“What’s the difference between the top at 19k, 13k, 10.5k and now?”

Bitcoin price
BTC and Bollinger Bands macro price chart shared by cryptocurrency trader “Crypto_y_tho” (@BTC_y_tho on Twitter).

The chart depicts that Bitcoin is currently nearing the top of the one-week Bollinger Bands — an indicator basically showing how far an asset deviates from a baseline trend. This is important because the last three times this was seen are as follows:

  • When Bitcoin topped at $10,500 in February of this year.
  • When BTC surged to $14,000 in June of 2019.
  • And when the cryptocurrency exploded to $20,000 during the crypto mania of 2017.

Historical precedent would suggest that BTC reaches a top soon.

Fundamental Trends Still Decisively Positive

Notably, multiple market fundamentals show that Bitcoin is still bullish.

As reported by NewsBTC, BTC blocks are currently being mined on average at their fastest rate since June 2014. This trend accentuates that cryptocurrency miners are optimistic about the prospects of the network.

This is important for short-term price action as the high amount of activity confirms that the “miner capitulation” that many feared did not come to fruition. “Miner capitulation” is a coin termed by analysts expecting miners to liquidate their Bitcoin all at once should they run into profitability issues.

Adding to this, the stock market continues to rally towards all-time highs. While it has been said that BTC is not correlated with equities, it is hard to argue that cryptocurrencies do not benefit from a booming stock market.

Related Reading: “Scary” Fractal: It’s Only a Matter of Time Before BTC  Trades at $14,000 Again
Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt
Last Time This Formation Was Seen, BTC Peaked at $10,500. It's Back Again
Tweet123Share208ShareSend
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

Arthur Hayes預測怪獸級山寨幣風暴來襲!哪些冷門項目有望暴漲1000倍?

比特幣在七月創下歷史新高,不僅推動整體加密市場重新啟動,也引爆了中小型代幣的資金狂潮。Arthur Hayes這位前BitMEX執行長更直言,市場正步入一場「怪獸級山寨幣季節」,並預測這波資金輪動可能...

Mark Mak 7 hours ago
Bitcoin

Bitcoin Stalls After Rally: Will It Blast Through $125,000 Or Slip Back To $110K?

After a powerful breakout last week that pushed Bitcoin into a new all-time high of $118,667, the world’s leading cryptocurrency...

Scott Matherson 12 hours ago
Bitcoin

Kiyosaki Awaits The Next Bitcoin Sale: ‘My Fellow Pigs And I Are Feasting’

Robert Kiyosaki, author of “Rich Dad Poor Dad,” stepped back into the Bitcoin market with a bold move. According to...

Christian Encila 14 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 price news

The Bitcoin Liquidity Supercycle Has Just Begun, Says Hedge Fund CEO

Jake Simmons 1 hour ago
Bitcoin Price Attempts a Comeback

Bitcoin Price Hits $120K Milestone — Bulls Make History Again

Aayush Jindal 2 hours ago
Bitcoin price news

Bitcoin Price Crash Possible As Correction Sentiment Takes Hold — $110,000 Next?

Scott Matherson 2 hours ago

Premium Sponsors

Press Releases

  • Mint

    Zak Manhire Launches Mint. io: A Web3 Gaming Platform...

    49 minutes ago
  • アルトコイン急騰の今買うべき仮想通貨プレセール

    ...

    16 hours ago
  • 仮想通貨おすすめ|強気市場で爆発的成長が見込まれる注目のミームトークン

    ...

    16 hours ago
  • BTC最高値更新の中で注目される新たなレイヤー2プロジェクトが狙う仮想通貨1000倍の可能性

    ...

    16 hours ago
  • ビットコインが11万8,000ドルの最高値を記録する中で注目すべき仮想通貨プレセール

    ...

    2 days 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.