Invest ideasNews
24 Mar 2026, 03:28
Ethereum Price Rally Meets Resistance, Bears Eye Renewed Downside Move
Ethereum price started a recovery wave from the $2,025 zone. ETH is now consolidating above $2,120 and might struggle to clear the $2,200 resistance. Ethereum started a recovery wave above the $2,120 zone. The price is trading above $2,120 and the 100-hourly Simple Moving Average. There is still a key bearish trend line active with resistance at $2,165 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh decline if it stays below the $2,165 resistance. Ethereum Price Faces Resistance Ethereum price managed to stay above $2,000 and started a recovery wave, like Bitcoin . ETH price was able to climb above the $2,080 and $2,120 resistance levels. The price cleared the 38.2% Fib retracement level of the downward move from the $2,385 swing high to the $2,025 low. More importantly, there was a break above one of the two bearish trend lines with resistance at $2,120 on the hourly chart of ETH/USD. Ethereum price is now trading above $2,100 and the 100-hourly Simple Moving Average . However, the bears are active near $2,180. Besides, there is still a key bearish trend line active with resistance at $2,165. If the bulls remain in action above $2,065, the price could attempt another increase. Immediate resistance is seen near the $2,165 level. The first key resistance is near the $2,200 level. The next major resistance is near the $2,250 level. A clear move above the $2,250 resistance might send the price toward the $2,300 resistance or the 76.4% Fib retracement level of the downward move from the $2,385 swing high to the $2,025 low. An upside break above the $2,300 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $2,350 resistance zone or even $2,400 in the near term. Another Decline In ETH? If Ethereum fails to clear the $2,165 resistance, it could start a fresh decline. Initial support on the downside is near the $2,120 level. The first major support sits near the $2,065 zone. A clear move below the $2,065 support might push the price toward the $2,025 support. Any more losses might send the price toward the $2,000 region. The main support could be $1,940. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,065 Major Resistance Level – $2,165
24 Mar 2026, 03:25
Binance Shakes Crypto Markets with Strategic Delisting of 15 Margin Pairs Including XRP
BitcoinWorld Binance Shakes Crypto Markets with Strategic Delisting of 15 Margin Pairs Including XRP Global cryptocurrency exchange Binance has announced a significant restructuring of its margin trading offerings, revealing plans to delist 15 trading pairs including the prominent XRP/BNB combination. This strategic move, scheduled for March 27, 2025, represents one of the most substantial adjustments to Binance’s margin trading infrastructure in recent years and follows a broader industry trend toward platform optimization and regulatory compliance. Binance Margin Trading Delisting: Complete List and Effective Date Binance will officially remove the specified margin trading pairs at precisely 6:00 a.m. UTC on March 27, 2025. The exchange confirmed the delisting applies equally to both cross-margin and isolated-margin trading modes. Consequently, traders must close their positions or face automatic liquidation. The complete list of affected pairs includes: XRP/BNB – A major pairing between Ripple’s XRP and Binance Coin AXS/BTC – Axie Infinity’s token against Bitcoin ETC/BTC – Ethereum Classic versus Bitcoin ATOM/BTC – Cosmos token paired with Bitcoin DASH/BTC – Privacy-focused Dash against Bitcoin BCH/USDⓈ – Bitcoin Cash against Binance USD stablecoin PUNDIX/USDC – Pundi X token versus USD Coin AVAX/USDⓈ – Avalanche token against Binance USD F/USDC – F token paired with USD Coin Additionally, Binance will remove several other pairs not initially specified in the announcement. The exchange typically reviews trading pairs quarterly, assessing factors like liquidity, trading volume, and regulatory considerations. Historical Context of Exchange Delistings Exchange delistings represent a common practice within the cryptocurrency industry. Major platforms regularly evaluate their trading offerings. For instance, Binance conducted similar reviews in 2023 and 2024, removing dozens of spot and margin pairs. Other exchanges like Coinbase and Kraken follow comparable procedures. Historically, delistings occur for several specific reasons: Consistently low trading volume below exchange thresholds Regulatory concerns about specific tokens or jurisdictions Strategic realignment of exchange offerings Technical infrastructure optimization Risk management considerations Furthermore, the current delisting wave coincides with increased regulatory scrutiny globally. Many exchanges now prioritize compliance over expansive trading options. Market Impact Analysis and Trader Implications The removal of margin trading pairs creates immediate consequences for active traders. First, affected users must close positions before the deadline. Second, liquidity fragmentation may occur as traders migrate to remaining pairs. Third, price volatility could temporarily increase around the delisting date. Market analysts observe several specific impacts: Margin traders utilizing these pairs face forced position closures. They must either take profits or accept losses before March 27. Alternatively, traders can convert positions to spot holdings if available. However, this requires additional steps and potential fee implications. Professional trading firms typically automate such transitions. Liquidity providers might experience reduced earning opportunities. Consequently, they may reallocate capital to other trading pairs. This redistribution could enhance liquidity elsewhere on the platform. Historical data from previous delistings shows temporary price pressure on affected tokens. However, long-term fundamentals typically reassert themselves within weeks. Regulatory Environment and Compliance Considerations The cryptocurrency regulatory landscape has evolved significantly since 2023. Multiple jurisdictions now enforce stricter trading rules. For example, the European Union’s Markets in Crypto-Assets (MiCA) regulations took full effect in 2024. Similarly, the United States has clarified several regulatory positions through enforcement actions and guidance. Exchanges like Binance must navigate this complex environment carefully. Certain token pairs might present higher regulatory risks. Stablecoin pairs involving USDⓈ and USDC receive particular scrutiny. Regulatory bodies focus on anti-money laundering (AML) and know-your-customer (KYC) compliance. Margin trading amplifies these concerns due to leverage and risk factors. Binance’s decision likely incorporates multiple regulatory assessments. The exchange maintains compliance teams across major jurisdictions. These teams evaluate local requirements continuously. Consequently, delistings sometimes reflect proactive compliance measures rather than reactive responses. Technical Infrastructure and Platform Optimization Cryptocurrency exchanges operate complex technical systems. Maintaining hundreds of trading pairs requires significant resources. Each pair needs dedicated order books, matching engines, and risk management systems. Platform optimization becomes crucial for performance and reliability. Binance has consistently emphasized technical excellence. The exchange handles billions in daily trading volume. Streamlining offerings improves system efficiency. Fewer trading pairs mean reduced computational load. This optimization enhances overall platform stability. Users benefit from faster execution and fewer technical issues. The delisted pairs represent lower-volume offerings. Their removal allows Binance to allocate resources more effectively. Remaining pairs should demonstrate improved performance. This strategic approach aligns with industry best practices. Major traditional exchanges like NASDAQ and NYSE similarly optimize their listings periodically. Comparative Analysis with Other Major Exchanges Binance’s delisting strategy compares interestingly with competitor approaches. The table below shows recent margin trading adjustments across major platforms: Exchange Recent Margin Delistings Primary Reason Cited Binance 15 pairs (March 2025) Low liquidity & optimization Coinbase 8 pairs (February 2025) Regulatory compliance Kraken 12 pairs (January 2025) Trading volume thresholds KuCoin 6 pairs (December 2024) Strategic realignment This comparative data reveals industry-wide trends. Exchanges increasingly prioritize quality over quantity. The focus shifts toward sustainable trading ecosystems. Regulatory factors play growing roles in listing decisions. Market maturity drives these evolutionary changes. Conclusion Binance’s decision to delist 15 margin trading pairs including XRP/BNB represents a calculated strategic move within the evolving cryptocurrency landscape. This adjustment reflects broader industry trends toward platform optimization, regulatory compliance, and sustainable trading ecosystems. While affecting specific traders temporarily, such measures typically strengthen overall market infrastructure. The cryptocurrency industry continues maturing, with exchanges like Binance leading through responsible platform management and continuous improvement initiatives. FAQs Q1: What should I do if I have open positions in these margin pairs? Close all positions before March 27, 2025, at 6:00 a.m. UTC. Binance will automatically liquidate any remaining positions after this deadline, potentially resulting in losses. Q2: Will these tokens still be available for spot trading on Binance? Most tokens will remain available for spot trading in other pairings. The delisting specifically affects margin trading for these particular combinations. Q3: How often does Binance review and delist trading pairs? Binance typically conducts quarterly reviews of all trading pairs, assessing factors like liquidity, trading volume, and regulatory compliance. Q4: Could these pairs return to margin trading in the future? While possible, historically delisted pairs rarely return to margin trading. Significant improvements in liquidity and trading volume would be necessary for reconsideration. Q5: How will this affect the price of tokens like XRP? Historical data shows temporary price pressure around delisting dates, but long-term prices typically reflect fundamental factors rather than exchange listing status alone. This post Binance Shakes Crypto Markets with Strategic Delisting of 15 Margin Pairs Including XRP first appeared on BitcoinWorld .
24 Mar 2026, 03:15
Bitcoin ETF Reversal: US Spot Funds Snap 4-Day Outflow Streak with $167M Surge
BitcoinWorld Bitcoin ETF Reversal: US Spot Funds Snap 4-Day Outflow Streak with $167M Surge In a significant reversal for digital asset markets, U.S. spot Bitcoin exchange-traded funds recorded substantial net inflows on March 23, 2025, ending a concerning four-day outflow streak that had investors watching closely. According to data compiled by Trader T, these funds attracted approximately $167.46 million in new capital, signaling renewed institutional confidence in cryptocurrency investment vehicles. This development comes at a crucial moment for Bitcoin’s mainstream adoption through regulated financial products. Bitcoin ETF Market Dynamics Shift The recent inflow data reveals important patterns within the cryptocurrency investment landscape. Market analysts immediately noted the timing of this reversal, which followed several days of net outflows totaling approximately $450 million. Consequently, this positive shift suggests changing sentiment among institutional investors. Furthermore, the data provides concrete evidence of ongoing institutional participation in digital asset markets through regulated channels. Market participants have closely monitored these flows since the Securities and Exchange Commission approved the first U.S. spot Bitcoin ETFs in January 2024. These products represent a landmark development for cryptocurrency accessibility. They allow traditional investors to gain Bitcoin exposure without directly holding the underlying asset. Therefore, daily flow data serves as a crucial indicator of institutional sentiment toward digital assets. Individual Fund Performance Analysis The March 23 data shows distinct patterns across major fund providers. BlackRock’s iShares Bitcoin Trust (IBIT) led the inflows with $161.04 million, demonstrating its continued dominance in the space. Meanwhile, Fidelity’s Wise Origin Bitcoin Fund (FBTC) attracted $41.7 million in new investments. However, not all funds experienced positive flows during this period. Ark Invest’s ARKB recorded a modest outflow of $9.41 million, while Grayscale Bitcoin Trust (GBTC) continued its pattern with $25.87 million in outflows. This divergence highlights the competitive dynamics within the Bitcoin ETF marketplace. Investors clearly differentiate between fund providers based on fees, structure, and track record. Bitcoin ETF Flow Data – March 23, 2025 Fund Ticker Net Flow iShares Bitcoin Trust IBIT +$161.04M Fidelity Wise Origin Bitcoin Fund FBTC +$41.70M Ark 21Shares Bitcoin ETF ARKB -$9.41M Grayscale Bitcoin Trust GBTC -$25.87M Historical Context and Market Evolution The approval of spot Bitcoin ETFs marked a watershed moment for cryptocurrency regulation. Previously, investors could only access Bitcoin through futures-based products or direct ownership. The spot ETF structure provides several advantages, including direct Bitcoin exposure and enhanced regulatory oversight. Since their launch, these funds have accumulated billions in assets under management. Market analysts track several key metrics when evaluating Bitcoin ETF performance: Daily flow data indicates short-term investor sentiment Cumulative net flows show overall adoption trends Volume metrics reveal trading activity levels Premium/discount data reflects market efficiency The four-day outflow streak preceding March 23 coincided with broader market volatility. Bitcoin’s price experienced fluctuations around the $70,000 level during this period. Some analysts attributed the outflows to profit-taking after significant price appreciation. Others pointed to macroeconomic factors influencing risk asset allocations. Institutional Adoption Patterns Institutional investors have gradually increased their Bitcoin allocations through these ETF products. Financial advisors, hedge funds, and corporate treasuries now consider digital assets as part of diversified portfolios. The ETF structure provides familiar regulatory frameworks and custodial arrangements that traditional institutions require. Consequently, flow data offers insights into how professional money managers approach cryptocurrency exposure. The concentration of inflows toward BlackRock and Fidelity products suggests several market preferences. Investors appear to favor established asset managers with extensive track records. Fee structures also influence investment decisions, with newer funds typically offering lower expense ratios. Additionally, trading volume and liquidity considerations affect which ETFs institutions select for their allocations. Regulatory Environment and Future Outlook The Securities and Exchange Commission continues to monitor Bitcoin ETF developments closely. Regulatory oversight ensures proper market functioning and investor protection. Recent flow patterns demonstrate how regulated products can provide transparent cryptocurrency exposure. Market participants expect further regulatory developments as digital asset adoption progresses. Several factors could influence future Bitcoin ETF flows: Bitcoin price movements affect investor sentiment directly Regulatory developments create certainty or uncertainty Macroeconomic conditions influence risk appetite Competitive dynamics between fund providers The March 23 inflow reversal suggests underlying demand remains strong despite short-term fluctuations. Market observers will watch whether this positive trend continues in subsequent trading sessions. Historical data shows that Bitcoin ETF flows often correlate with broader cryptocurrency market sentiment. Therefore, these investment vehicles serve as important indicators for the entire digital asset ecosystem. Comparative Analysis with Traditional ETFs Bitcoin ETFs exhibit both similarities and differences compared to traditional exchange-traded funds. Like conventional ETFs, they provide diversified exposure through a single security. However, cryptocurrency funds face unique challenges including custody considerations and regulatory uncertainty. The underlying asset’s volatility also distinguishes Bitcoin ETFs from more established investment products. Despite these differences, Bitcoin ETFs have achieved remarkable adoption rates. Their accumulation of assets under management has occurred faster than many traditional ETF launches. This rapid growth demonstrates significant investor interest in cryptocurrency exposure through regulated channels. The March 23 inflow data provides further evidence of this ongoing trend. Conclusion The reversal in Bitcoin ETF flows on March 23, 2025, represents a significant development for digital asset markets. The $167.46 million net inflow ending the four-day outflow streak indicates renewed institutional confidence. BlackRock’s IBIT and Fidelity’s FBTC led the positive movement, while Grayscale’s GBTC continued experiencing outflows. This Bitcoin ETF activity provides valuable insights into institutional cryptocurrency adoption patterns. Market participants will monitor subsequent flow data to determine whether this reversal establishes a new trend. The continued evolution of these investment products remains crucial for Bitcoin’s integration into mainstream finance. FAQs Q1: What are spot Bitcoin ETFs? Spot Bitcoin ETFs are exchange-traded funds that hold actual Bitcoin as their underlying asset. They track Bitcoin’s price directly rather than using futures contracts or other derivatives. Q2: Why did Bitcoin ETFs experience outflows for four consecutive days? The outflows likely resulted from profit-taking after price appreciation, broader market volatility, and normal portfolio rebalancing by institutional investors during a period of uncertainty. Q3: How significant is $167.46 million in net inflows for Bitcoin ETFs? This represents a substantial reversal, particularly following multiple days of outflows. It indicates renewed institutional interest and suggests underlying demand remains strong despite short-term fluctuations. Q4: Why do different Bitcoin ETFs show varying flow patterns? Funds differ in fees, structure, track record, and issuer reputation. Investors choose based on expense ratios, liquidity, and their confidence in the fund provider, leading to divergent flow patterns. Q5: How do Bitcoin ETF flows affect Bitcoin’s price? Significant inflows typically create buying pressure on the underlying Bitcoin, potentially supporting prices. Conversely, substantial outflows may create selling pressure, though many other factors also influence Bitcoin’s market price. This post Bitcoin ETF Reversal: US Spot Funds Snap 4-Day Outflow Streak with $167M Surge first appeared on BitcoinWorld .
24 Mar 2026, 03:10
Crypto Futures Liquidations Surge: $400M Evaporates as Shorts Dominate Bitcoin and Ethereum Sell-Off
BitcoinWorld Crypto Futures Liquidations Surge: $400M Evaporates as Shorts Dominate Bitcoin and Ethereum Sell-Off A significant wave of forced position closures swept through cryptocurrency derivatives markets on March 21, 2025, erasing hundreds of millions in leveraged bets. Over a tumultuous 24-hour period, traders faced massive crypto futures liquidations, primarily impacting short positions on Bitcoin and Ethereum. This event highlights the persistent volatility and high-risk nature of leveraged crypto trading. Crypto Futures Liquidations: A $400 Million Market Shakeout Liquidations occur when an exchange automatically closes a trader’s leveraged position due to a partial or total loss of the trader’s initial margin. This mechanism protects the exchange from losses on borrowed funds. The recent data reveals a concentrated sell-off. Specifically, Bitcoin (BTC) perpetual futures saw an estimated $207.30 million in liquidations. Furthermore, Ethereum (ETH) contracts witnessed $168.99 million in forced closures. Consequently, the total for these two major assets neared $400 million. An additional $29.75 million in XAU (a gold-pegged crypto asset) positions were also liquidated, presenting a contrasting pattern. The direction of these liquidations provides critical market sentiment insight. For Bitcoin, a staggering 75.99% of the liquidated volume came from short positions. Similarly, for Ethereum, 72.92% of liquidations were shorts. This indicates a powerful upward price move forced traders betting on price declines to exit their positions. Conversely, for XAU, 71.66% of liquidations were long positions, suggesting a downward price move there. Understanding Perpetual Futures and Leverage Risks Perpetual futures contracts, unlike traditional futures, have no expiry date. Traders use them for speculative leverage, often amplifying their position size 10x, 25x, or even 100x. While this can magnify profits, it also drastically increases risk. A small price move against the trader’s position can trigger a liquidation. Major exchanges like Binance, Bybit, and OKX continuously monitor these positions. Market analysts often view large-scale liquidations as a potential cleansing event. They can reduce excessive leverage in the system, sometimes leading to a stabilization or reversal in price trends. The prevalence of short liquidations suggests a classic ‘short squeeze.’ In this scenario, rising prices force short sellers to buy back the asset to cover their positions, fueling further price increases. Historical Context and Market Impact Similar liquidation events have preceded major market turning points. For instance, the bull run of late 2023 saw multiple episodes of short squeezes. The current data aligns with a broader context of institutional adoption and regulatory clarity emerging in early 2025. The scale of these liquidations, while significant, remains below the record-setting days of 2021 and 2022, when single-day totals exceeded $2 billion. The immediate impact is a transfer of wealth from liquidated traders to those on the winning side of the trade. Moreover, it serves as a stark reminder of the risks inherent in derivative markets. Data from analytics firms like CoinGlass and Coinglass is essential for traders to monitor funding rates and open interest, which signal market crowding. Analyzing the Bitcoin and Ethereum Dominance The dominance of BTC and ETH in liquidation volumes is unsurprising. They represent the deepest and most liquid derivative markets in crypto. The high percentage of short liquidations for both suggests a coordinated market move. Several factors could have contributed, including positive macroeconomic news, a major institutional purchase, or a breakthrough in ETF inflows. The following table summarizes the key 24-hour liquidation data: Asset Total Liquidated Short Position % Long Position % Bitcoin (BTC) $207.30M 75.99% 24.01% Ethereum (ETH) $168.99M 72.92% 27.08% XAU $29.75M 28.34% 71.66% This data clearly shows the opposing forces at play between the major crypto assets and a commodity-pegged token. The event likely caused increased volatility across related altcoins as well. Traders often rebalance portfolios after such shocks, creating ripple effects. Risk Management and Trader Psychology Professional traders emphasize risk management strategies to avoid liquidation. Key practices include: Using stop-loss orders to exit positions before margin calls. Employing lower leverage multiples to withstand greater price swings. Diversifying across assets to avoid correlation risk. Continuously monitoring funding rates , which can predict market turns. Psychology plays a huge role. The fear of missing out (FOMO) can drive traders to use excessive leverage during rapid price moves. Conversely, panic selling can accelerate liquidations. Understanding market structure and maintaining discipline are therefore critical for survival in these volatile markets. Conclusion The recent $400 million crypto futures liquidations event underscores the high-stakes nature of leveraged cryptocurrency trading. The dominance of short liquidations in Bitcoin and Ethereum points to a strong bullish move that caught many traders off guard. While such events can create short-term trading opportunities, they primarily serve as a warning about the dangers of over-leverage. As the market matures in 2025, understanding liquidation dynamics remains essential for any participant in the crypto derivatives space. Monitoring these metrics provides invaluable insight into market sentiment, leverage levels, and potential volatility ahead. FAQs Q1: What causes a futures liquidation in crypto? A liquidation is triggered when a trader’s margin balance falls below the maintenance margin requirement due to an adverse price move. The exchange automatically closes the position to prevent further losses. Q2: Why were most Bitcoin and Ethereum liquidations short positions? A high percentage of short liquidations typically indicates a rapid price increase. Traders who borrowed and sold an asset, betting on a price drop, were forced to buy it back at a higher price to close their positions, amplifying the upward move. Q3: What is the difference between a liquidation and a stop-loss? A stop-loss is a voluntary order set by a trader to sell at a specific price. A liquidation is an involuntary, forced closure executed by the exchange when the trader’s collateral is nearly depleted. Q4: How can traders avoid being liquidated? Traders can avoid liquidation by using conservative leverage, setting prudent stop-loss orders, maintaining sufficient margin collateral above requirements, and avoiding overly crowded trades with extreme funding rates. Q5: Do large liquidations signal a market top or bottom? Not definitively. While large long liquidations can occur near market tops and short liquidations near bottoms, they are more accurately a sign of extreme leverage being flushed from the system. They often precede a period of reduced volatility or a trend change, but are not a standalone timing indicator. This post Crypto Futures Liquidations Surge: $400M Evaporates as Shorts Dominate Bitcoin and Ethereum Sell-Off first appeared on BitcoinWorld .
24 Mar 2026, 03:00
Bitcoin HODLers Quietly Add 332,000 BTC Amid Market Chaos
On-chain data shows the Bitcoin long-term holders have seen their supply go up recently, despite the unconvincing price action in the cryptocurrency. Bitcoin Long-Term Holder Supply Has Surged By 332,000 Over The Past Month As pointed out by CryptoQuant community analyst Maartunn in an X post, the Bitcoin long-term holder supply has been following an uptrend recently. The “long-term holders” (LTHs) refer to the BTC investors who have been holding onto their coins for more than 155 days. Related Reading: Bitcoin Shark & Whale Wallets Jump Despite Bearish Price Action The LTHs make up for one of the two main divisions of the BTC market done on the basis of holding time; the other side, containing coins aged 155 days or less, is called the “short-term holders” (STHs). Statistically, the longer an investor keeps their coins dormant, the less likely they become to sell them in the future. As such, the STHs with their low holding time can be considered to include the weak hands of the market, while the LTHs can represent the stalwart diamonds. Now, here is the chart shared by Maartunn that shows the recent 30-day net position change trend in the supply of these two Bitcoin groups: As is visible in the above graph, the Bitcoin LTHs saw a negative monthly supply change during the second half of 2025, implying members of the cohort were breaking their dormancy, potentially to participate in selling. From the chart, it’s apparent that the selloff was the most intense during November, suggesting even the diamond hands of the network were reacting to the crash. The metric remained negative for the rest of the year, but in 2026, a shift has occurred; the LTH netflow has been positive since January and its value has only been climbing over time. Currently, it’s sitting at +332,600 BTC. Something to keep in mind is that while declines in the LTH supply can reflect distribution, the reverse isn’t true. This is because coins only become part of the LTH group after they have been held for a period of over 155 days. Thus, an increase in the LTH supply doesn’t mean that accumulation is happening in the present, but rather that it took place five months ago. Selling has no such delay attached as tokens see their age instantly reset back to zero as soon as they are involved in a network transaction. Related Reading: Bitcoin Bearish Positioning Persists As Funding Rates Hold Negative Nonetheless, a rise in the LTH supply is naturally still a useful signal, reflecting an increased tolerance for long-term holding among investors. Interestingly, the recent large 30-day inflow into the group has come while the market has gone through uncertainty owing to the war. As such, it would appear that a segment of the investors continue to believe in Bitcoin even in these circumstances. BTC Price At the time of writing, Bitcoin is trading around $68,500, down more than 6% in the last week. Featured image from Dall-E, chart from TradingView.com
24 Mar 2026, 02:49
Bitcoin Price Bounce Weakens, Recovery at Risk of Fading Again
Bitcoin price started a recovery wave from $68,000. BTC is now back above $70,000 and might struggle to continue higher in the near term. Bitcoin started a decent recovery wave above $69,500 and $70,000. The price is trading above $70,000 and the 100 hourly simple moving average. There was a break above a bearish trend line with resistance at $69,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start another decline if it stays below the $71,500 and $72,000 levels. Bitcoin Price Attempts Recovery Bitcoin price found support near the $67,500 zone and recently started a recovery wave . BTC climbed above the $68,800 and $69,500 resistance levels. There was a break above a bearish trend line with resistance at $69,500 on the hourly chart of the BTC/USD pair. The bulls were able to push the price above the 38.2% Fib retracement level of the downward move from the $75,999 swing high to the $67,343 low. However, the price faced resistance near the $71,500 zone and the 50% Fib retracement level of the downward move from the $75,999 swing high to the $67,343 low. Bitcoin is now trading above $70,000 and the 100 hourly simple moving average . If the price remains stable above $70,000, it could attempt a fresh increase. Immediate resistance is near the $71,650 level. The first key resistance is near the $72,000 level. A close above the $72,000 resistance might send the price further higher. In the stated case, the price could rise and test the $73,500 resistance. Any more gains might send the price toward the $74,200 level. The next barrier for the bulls could be $75,000. Another Decline In BTC? If Bitcoin fails to rise above the $71,650 resistance zone, it could start another decline. Immediate support is near the $70,000 level. The first major support is near the $69,350 level. The next support is now near the $68,950 zone. Any more losses might send the price toward the $68,000 support in the near term. The main support now sits at $67,500, below which BTC might struggle to recover in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $68,950, followed by $68,000. Major Resistance Levels – $71,650 and $72,000.
