Bitcoin price is currently at $67,850 while altcoins show signs of recovery. On April 5th, the Spot Bitcoin ETF saw a net inflow of $204 million, but it is noted that this figure was below previous days. Predictions for the weekend Bitcoin price are eagerly awaited.
Optimistic Signals
While inflation data to be released on Wednesday creates unease in the markets, it is thought that the selling of GBTC by Genesis could alleviate the dominance in the ETF market. Additionally, it is stated that the Reserve Risk indicator continues to recover, and long-term investors may accumulate savings.
Bitcoin Price Predictions
Another data indicating the potential for a rise in Bitcoin price is the DAA Difference. If the number of active addresses increases while the price falls, it supports the accumulation trend and consequently, the signal of a rise. Additionally, the upcoming Bitcoin halving event on April 20th is emphasized to have positively affected prices from a historical perspective, hence the continuation of long-term optimism.
Useful Information for the Reader
Bitcoin price may test $70,000 over the weekend.
Closing above $71,370 suggests a higher price before the halving.
Weakness at the $68,250 resistance level makes it difficult to expect a definite rally.
In a bearish scenario, $65,300 and $61,730 emerge as target prices.
According to indicators, the Bitcoin price may test the $70,000 threshold over the weekend, but current market conditions and potential resistance levels should be taken into account for a definite rally expectation. Investors are reminded that they cannot predict the future and should not forget that the crypto market is open to surprises.
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