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 Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%
  • 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 Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%

Bitcoin Tries to Recover $1,000 Crash, But BTC Faces Strong Resistance Ahead

Ali Martinez
Ali Martinez
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 is back in the spotlight of the cryptocurrency market after taking a nearly 10% dum. The sudden bearish impulse saw the asset’s price drop from a high of $9,970 to a low of $9,050.

Alongside the price slump, over $80 million worth of long and short BTC positions were liquidated on BitMEX alone.

From a technical perspective, the recent price action seems to be part of an ascending triangle that has been developing since late April on BTC’s 1day chart. Now that the flagship cryptocurrency plunged to the hypothenuse of the triangle, it is reasonable to expect a move back to the horizontal resistance that lies around $10,000.

A further increase in demand around this price point may have the strength to push Bitcoin towards the 127% Fibonacci retracement levels at $12,400.

Bitcoin US dollar price chart

Nonetheless, there is a significant resistance barrier ahead of the pioneer cryptocurrency that may have the ability to prevent it from advancing further.

Strong Resistance Ahead

The price history of the past two months suggests that Bitcoin is poised to bounce off support and march towards the $10,000 resistance level once again. However, IntoTheBlock’s “In/Out of the Money Around Price” (IOMAP) model reveals that such a bullish impulse would be challenging to achieve.

Based on this on-chain metric, there is a massive supply barrier that sits between $9,460 and $9,730, which may reject any upside pressure. Here, the IOMAP cohorts show that over 2 million addresses bought nearly 1.35 million BTC.

In/Out of the Money Around Price. (Source: IntoTheBlock)

On the flip side, IntoTheBlock maintains that if the bears were to step in, the $9,300 hurdle could serve as a significant support zone.

“The IOMAP analysis reveals that the next level support level is between $9,172 to $9,442, where almost 805 thousand addresses bought 509,000 BTC,” said the machine learning and statistical modeling firm.

Whales Are Accumulating Heavily

Even though resistance seems stronger than support based on the IOMAP cohorts, the number of addresses with millions of dollars in Bitcoin, colloquially known as “whales,” is steadily rising.

Data from Santiment reveals that the number of wallets holding between 100 and 1,000 BTC has been increasing in every dip Bitcoin has taken since the beginning of the month.

A growing number of BTC whales have usually led to short-term price rallies over the past three months. If history repeats itself, the buying spree that these large investors have gone through may allow the bellwether cryptocurrency to slice through the overhead resistance and retest the infamous $10,000 level.

BTC Whales Accumulate Heavily.

With the current levels of volatility in the cryptocurrency market, it remains to be seen whether support or resistance will break first. It is worth mentioning that the bearish outlook cannot be taken out of the question as some of the most prominent analysts in the industry have talked about a potential 40% decline.

Featured Image from Shutterstock
Tags: xbtusd, btcusd, btcusdt
Tweet123Share208ShareSend
Ali Martinez
Ali Martinez

Ali Martinez

Ali began forex trading in 2012. In 2014, he came across Bitcoin’s whitepaper and was so fascinated by the idea of a decentralized, borderless, and censorship-resistant currency that he started buying Bitcoin. By 2015, he started traveling to spread the word about Bitcoin. Now, he is a content producer for some of the leading media outlets in the cryptocurrency industry.

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

Dogecoin

Dogecoin Breaks Out, Eyes Historic Surge Between $0.41–$0.97 – What To Expect

Dogecoin (DOGE) has staged a strong breakout after forming a double bottom near key support, surging past $0.26 and leaving...

Godspower Owie 4 hours ago
ondo finance Bitcoin cryptocurrency blockchain finance

Ondo Finance Surges 20% Weekly Amid Hype and Growing DeFi Demand

Ondo Finance (ONDO) has risen as one of the top performers in the market this week, surging 20% to trade...

James Halver 6 hours ago

柴犬幣獲力挺價格上看156%漲幅 現在最值得買入這個迷因幣潛力升幅100倍

隨著市場對迷因幣熱度再度升溫,柴犬幣(Shiba Inu,簡稱SHIB)重新站上話題中心。一位知名匿名交易員Unipcs最近預測,迷因幣市場正準備進入拋物線式的上升階段,柴犬幣將是這波趨勢中的主要受益...

Mark Mak 7 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

Solana

Analyst Sets Bold $1,314 Target For Solana After Cup-And-Handle Breakout

Keshav Verma 22 minutes ago
bitcoin

Bitcoin Breaks Above Mid-Term Holder Breakeven – Is A Fresh Rally Brewing?

Ash Tiwari 1 hour ago
Chainlink

Chainlink And Polymarket Forge New Alliance: LINK Forecasted To Outperform XRP By 2030

Ronaldo Marquez 2 hours ago

Premium Sponsors

Press Releases

  • トレーダー注目の新規コイン ― 仮想通貨1000倍リターンを狙える格安銘柄

    トレーダー注目の新規コイン ―...

    10 hours ago
  • ミームコインが注目のプレセールで100万ドル突破 ― Mine-to-Earn型報酬が話題に

    ...

    10 hours ago
  • Tyto 3 altcoiny explodují v aktuální sezóně – Bitcoin Hyper, Maxi Doge a Wepe SOL by mohly být dalšími generátory milionářů

    Maxi Doge ($MAXI): Investičná príležitosť medzi meme...

    15 hours ago
  • Maxi Doge ($MAXI): Investiční příležitost mezi meme...

    15 hours ago
  • イーサリアム...

    16 hours ago

Newsletter

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.