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: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market
  • 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: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

Why Bitcoin below $60K could be a great buying opportunity

Reynaldo Marquez
Reynaldo Marquez
4 years ago
2 mins read
Bitcoin BTC

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 seems to be losing steam as it trades back and forth between $59,000 and $60,000. In the daily chart, BTC is moving sideways (0.3%) after a week with modest gains of 4.9%.

Bitcoin BTC BTCUSD
BTC moving sideways in the daily chart. Source: BTCUSD Tradingview

Trader Josh Rager has set support for BTC at $59,000. Holding this level could give it enough momentum to retest the $60,600 area. The trader expects “new highs” by Wednesday.

On-chain data seems to support this prediction, as shown by CryptoQuant shared by “Byzantine General”. BTC reserves for the spot market continue their downtrend and indicate a “consistent demand”. This trader said:

Except for those 2 inflow outliers most significant flows have been outflows. This massive consolidation range that we’re in sure looks a lot like re-accumulation.

Further evidence suggests that Bitcoin’s current price action is driven by institutions unlike the previous bull-run in 2017. Besides from Google search volume for “Bitcoin” is at a relatively low, Coinbase trading volume has skyrocketed since Q3 and Q4, 2020.

However, on this metric, the percentage of retail investors has trended downwards, as the following graph demonstrates. The trader said:

Last bull run we were talking about institutions coming, but now they’re actually here, and they’re buying.

Bitcoin BTC
Source: IntoTheBlock

Bitcoin 4 years cycles could change

On April 14, crypto exchange Coinbase will go public on the U.S. stock market. Under the ticker COIN, the trading platform will be one of the first major crypto companies on the traditional market.

This moment converges with VISA testing stablecoins, PayPal expanding its crypto services, Tesla integrating Bitcoin as a payment method. The above could play an important role during this week as the 14th approaches. The trader said:

That doesn’t mean there won’t be any corrections anymore. Of course not, I mean we’ve seen three massive (liquidations) corrections this year alone. But, this bull run could be different. Maybe the 4 year cycle structure that we’re used to from bitcoin could break.

Two additional key metrics are the percentages of BTC trading above 1 Trillion USD market cap and the amount of BTC on exchanges. The former is estimated at 11% as BTC’s price trades above $53,000 which points to a “validation” of the current price, as stated by analyst William Clemente.

Bitcoin BTC
Source: Glassnode

On the latter, there is a correlation between the miners and long-term holders keeping their BTC and the increased supply outflow from the trading platform. Clemente added:

In combination with exchange withdrawals, supply is becoming increasingly illiquid. This means the new wave of institutional demand (just beginning) must compete for the mere 2.3M coins left on exchanges.

Tweet123Share196ShareSend
Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

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

Bitcoin

Bitcoin Keeps Slipping Down: Is $107,000 The Next Support?

On-chain data shows Bitcoin is fast approaching the cost basis of the short-term holders, a retest of which could potentially...

Keshav Verma 1 hour ago
Dogecoin

Dogecoin Gears Up For Triple Surge Vs. Bitcoin – Details

Dogecoin is back in the spotlight after a key technical move against Bitcoin hinted at renewed strength. The DOGE/BTC pair...

Christian Encila 2 hours ago
Dogecoin price news

Dogecoin Crash Incoming? Analyst Warns Bulls Are Out Of Time

Dogecoin’s near-term uptrend may be running on fumes, with crypto analyst Kevin (Kev Capital TA) warning that a breakdown is...

Jake Simmons 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

CRO

Trump Media And Partners Raise $6 Billion For The First CRO Treasury

Ronaldo Marquez 57 minutes ago

Solana迷因幣暴漲從90美元到325萬美元傳奇 下個1000倍幣下注Bitcoin Hyper

Mark Mak 1 hour ago
Bitcoin Price Eases From Highs

Bitcoin Price Recovery Stalls, Can Bulls Overcome the Key Resistance?

Aayush Jindal 1 hour ago

Premium Sponsors

Press Releases

  • Kryptotrader proměnil 90 dolarů na 3,25 milionu dolarů

    Kryptotrader proměnil 90 dolarů na 3,25 milionu dolarů...

    6 hours ago
  • Kriptokereskedő 90 dollárból 3,25 millió dollárt csinált, amikor a Bitcoin Hyper 5500%-ot lőtt ki

    Kriptokereskedő 90 dollárból 3,25 millió dollárt...

    7 hours ago
  • miner

    XRP and ADA continue to fall, OPTO Miner cloud mining...

    8 hours ago
  • Krypto obchodník premenil 90 dolárov na 3,25 milióna vďaka Bitcoin Hyper (+5 500 %)

    Krypto obchodník premenil 90 dolárov na 3,25 milióna...

    11 hours ago
  • ドージコイン 今後の展望:DOGE財団ディレクターが秘密プロトコルテストを公開 – DOGEは10ドルに到達するか?

    ドージコイン...

    11 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.