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bitcoin price managed to print a bitcoin/”>slight gain in the last 24 hours to trade at $64,183.60 at 5:40 am EST as investors slowly buy the largest cryptocurrency by market capitalization.
Flat btc trading may not last long. Former BitMEX CEO Arthur Hayes predicts that the cryptocurrency market could see a “reacceleration” of its bull market due to a possible shift in the US economy.
The measures led by Treasury Secretary Janet Yellen could lead to a liquidity injection of $1.4 trillion, Hayes said in an April 26 report. twitter.com/CryptoHayes/status/1783701769371185274″>x publication. This additional capital could boost riskier asset classes, including cryptocurrencies.
bitcoin price loses key support
4-hour chart for btc/USDT (Source: x/Mw7VNQak/”>TradingView)
He bitcoin The price fell below the support of $65,104.05 in the last 48 hours and has failed to recover above this point since then. The bulls attempted to push the price of the leading cryptocurrency back above this key level over the past 24 hours, but the sellers managed to prevent significant moves.
As a result, btc is currently at risk of falling to the next support level at $60,714.87 in the coming days. This bearish thesis could be invalidated if bitcoin price closes a 4-hour candle above $65,104.05 in the next 12 hours.
Traders could identify a 4-hour candle close above this barrier as a long entry. With the possible influx of buying pressure, bitcoin price could continue to rise towards the resistance level of $69,085.36.
Sufficient bullish momentum could even lead the market leader to turn this price into support. btc then it could have a platform from which to rise and possibly reach as high as $74,005 in the near term.
bitcoin price tries to enter a new bullish phase
Technical indicators on the btc 4-hour chart are sending mixed signals. On the one hand, the relative strength index (RSI) is positioned bearishly below its simple moving average (SMA) line. The first also has a negative slope.
This not only suggests that sellers have an advantage over buyers, but also warns that they are getting stronger. Therefore, it will be easier for bears to drive the price of bitcoin down in the next 24 hours than for bulls to increase it.
On the other hand, the Moving Average Convergence Divergence (MACD) is about to trigger a major bullish technical flag. With the MACD line rising towards the MACD signal line, it appears that btc is close to entering a new bullish phase.
With btc looking to enter a new bullish period and Hayes seeing the possibility of a $1.4 trillion liquidity injection into the US economy, the bitcoin derivative 99Bitcoins appears to be well positioned to benefit.
A new token with a great community
99Bitcoins is a leading crypto educational platform that has broken down complex crypto concepts for many over the years. The team is now looking to expand its educational offering by launching its own token, 99BTC.
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Dive deeper: https://t.co/2hlZYRFHBvtwitter.com/hashtag/99BTC?src=hash&ref_src=twsrc%5Etfw”>#99BTC twitter.com/hashtag/SpatialComputing?src=hash&ref_src=twsrc%5Etfw”>#SpatialComputing twitter.com/hashtag/Web3?src=hash&ref_src=twsrc%5Etfw”>#web3
— 99Bitcoins (@99BitcoinsHQ) twitter.com/99BitcoinsHQ/status/1777275219423490318?ref_src=twsrc%5Etfw”>April 8, 2024
By actively participating in the multitude of interactive tutorials and courses available on the 99Bitcoins platform, users will be able to earn crypto rewards.
This earning potential is increased by the fact that a user will gain access to more educational content as they complete tasks.
With around two million registered users on its platform and more than 700,000 community members across all its social platforms, 99BTC will have immediate access to a large pool of potential investors.
Investors Rush to Buy 99BTC and Participate in Its Lucrative Staking Program
Investors have poured more than $830,000 into the 99BTC pre-sale, a frenzy around the token to learn how to earn that could be due in part to the fact that it is offering a 2.237% annual staking yield.
Currently, the cryptocurrency is trading at $0.00102 per token and can be purchased using eth, USDT, BNB, or bank card.
Buy 99BTC tokens on their official website here.
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