Bitcoin Price Could Rise Over the Weekend

The price of Bitcoin is currently at $67,850 as altcoins show signs of recovery. On April 5th, there was a net flow of $204 million into the Spot Bitcoin ETF, although these figures are lower compared to previous days. Predictions for the Bitcoin price over the weekend are being eagerly awaited. Optimistic Signals While the announcement of inflation data on Wednesday has caused unease in the market, it is thought that the significant GBTC sale by Genesis could ease the dominance in the ETF market. Additionally, it is stated that the Reserve Risk indicator continues to recover, and long-term investors may start to accumulate. Bitcoin Price Predictions Another indication of the potential rise in Bitcoin price is the DAA divergence. If the active address count is increasing while the price is falling, it supports the accumulation trend and therefore the signal of a rise. Furthermore, it is emphasized that the […]

Bitcoin Price Could Rise Over the Weekend

The price of Bitcoin is currently at $67,850 as altcoins show signs of recovery. On April 5th, there was a net flow of $204 million into the Spot Bitcoin ETF, although these figures are lower compared to previous days. Predictions for the Bitcoin price over the weekend are being eagerly awaited.

Optimistic Signals

While the announcement of inflation data on Wednesday has caused unease in the market, it is thought that the significant GBTC sale by Genesis could ease the dominance in the ETF market. Additionally, it is stated that the Reserve Risk indicator continues to recover, and long-term investors may start to accumulate.

Bitcoin Price Predictions

Another indication of the potential rise in Bitcoin price is the DAA divergence. If the active address count is increasing while the price is falling, it supports the accumulation trend and therefore the signal of a rise. Furthermore, it is emphasized that the upcoming Bitcoin halving event on April 20th has historically positively influenced prices and therefore long-term optimism continues.

Useful Information for the Reader

The Bitcoin price could test $70,000 over the weekend.
A close above $71,370 indicates that the price could be higher before the halving.
Weakness at the $68,250 resistance point makes it difficult to expect a definite rally.
In a bearish scenario, the target prices are $65,300 and $61,730.

According to indicators, the Bitcoin price could test the $70,000 mark over the weekend, but current market conditions and potential resistance levels should be considered for a definite rally expectation. Investors are reminded that they cannot predict the future and the crypto market is open to surprises.

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