Join our Telegram channel to stay up to date on breaking news coverage
bitcoin price rose 6% in the last 24 hours bitcoin/”>trading at $52,075 At 12:42 a.m. EST, trading volume increased 29% to $43 billion.
The price surge comes as CoinShares head of research James Butterfill says bitcoin spot ETFs (exchange-traded funds) had racked up net inflows of $4 billion through February 13.
US Spot bitcoin ETFs Just Hit Net Inflows of $4 Billion. Yesterday saw the largest net inflows of $651 million since launch day on January 11. pic.twitter.com/uYk5Su7z7M
—James Butterfill (@jbutterfill) February 14, 2024
According to Butterfill, Tuesday saw the largest inflows since its release on January 11 with $651 million. BlackRock's IBIT fund recorded a single-day net inflow of $493 million, representing 70% of all daily inflows.
bitcoin price will continue its bullish momentum
bitcoin price has been trending upward, supported by the inverse head and shoulders pattern, which allowed the price to rise through an increase phase. However, the bulls have experienced a challenge at $52,578, acting as a resistance zone.
btc price has touched the upper limit of the bullish pennant, indicating that btc price may be rising to recover.
Furthermore, the price is trading above the 50-day and 200-day SMA, confirming the expected bullish rally. Furthermore, the 50-day SMA is trending above the 200-day SMA, forming a golden cross at $42,870, further supporting the incoming bull run.
The Relative Strength Index (RSI) is recovering from the mid-level of 50 to 72, indicating intense buying, affirming the current bullish sentiments.
<img decoding="async" class="alignnone size-full wp-image-480890" src="data:image/svg+xml,%3Csvg%20xmlns=" http:="" alt="MACD btc” width=”1281″ height=”555″ data-lazy-srcset=”https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-BTC-Pumps-6-to-Break-52000-as”https://technicalterrence.com/crypto/bitcoin/”>btc-MACD.png 1281w, https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-BTC-Pumps-6-to-Break-52000-as”https://technicalterrence.com/crypto/bitcoin/”>btc-MACD-300×130.png 300w, https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-BTC-Pumps-6-to-Break-52000-as”https://technicalterrence.com/crypto/bitcoin/”>btc-MACD-1024×444.png 1024w, https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-BTC-Pumps-6-to-Break-52000-as”https://technicalterrence.com/crypto/bitcoin/”>btc-MACD-768×333.png 768w” data-lazy-sizes=”(max-width: 1281px) 100vw, 1281px” data-lazy-src=”https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-BTC-Pumps-6-to-Break-52000-as”https://technicalterrence.com/crypto/bitcoin/”>btc-MACD.png”/>btc-MACD.png” alt=”MACD btc” width=”1281″ height=”555″ srcset=”https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-BTC-Pumps-6-to-Break-52000-as”https://technicalterrence.com/crypto/bitcoin/”>btc-MACD.png 1281w, https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-BTC-Pumps-6-to-Break-52000-as”https://technicalterrence.com/crypto/bitcoin/”>btc-MACD-300×130.png 300w, https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-BTC-Pumps-6-to-Break-52000-as”https://technicalterrence.com/crypto/bitcoin/”>btc-MACD-1024×444.png 1024w, https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-Price-Prediction-BTC-Pumps-6-to-Break-52000-as”https://technicalterrence.com/crypto/bitcoin/”>btc-MACD-768×333.png 768w” sizes=”(max-width: 1281px) 100vw, 1281px”/>
Additionally, the Moving Average Convergence Divergence (MACD) line (blue) is trending above the signal line (orange), stating that it is time to buy, which could push the price up further. .
The incoming bullish rally is also supported by the green histogram bars, which extend further to the upside.
bitcoin price prediction
Current long-term bitcoin price technical analysis indicates that btc is in an uptrend, as confirmed by the price break above the pennant.
The RSI is trading above the overbought region of 70, indicating a possible price correction. In such a scenario, $48,018 could act as the best support zone. This could offer the best foundation for the bulls to catapult the price through the resistance at $56,612, to a new high of $60,000.
As the bulls await the halving in about two months, the price is likely to rise further.
Meanwhile, as bitcoin price heads north, analysts say bitcoin Minetrix is emerging as another compelling way to take advantage of the btc bull run, with the potential to rise 10x upon launch.
BTCMTX pre-sale exceeds $10.9 million and closes with the goal of $11.5 million
If you are a bitcoin miner, you are aware of the complex and resource-demanding nature of the activity, as it requires specialized hardware and technical expertise. But with bitcoin Minetrixhas a cutting-edge, decentralized cryptocurrency project that solves these problems.
Such an innovative approach has already gained a strong following in the crypto community, with over $10.9 million already secured in early funding as it moves towards its $11.5 million goal.
Spot bitcoin #ETF are shaking up the market dynamics, acquiring bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin at a rate that exceeds mining production by 10 times! #WallStreet giants like @BlackRock and @Fidelity are driving this increase, fueling demand for $btc.
What do you think this means for the future of… pic.twitter.com/sXCwRLmmJA
—Bitcoinminetrix (@bitcoinminetrix) February 14, 2024
Buy and Stake BTCMTX, 10x Returns
Can buy and stake your BTCMTX tokens and receive an impressive 62% Annual Percentage Yield (APY). When you place a stake, you automatically earn tradable ERC-20 token credits which, when burned, give you btc cloud mining power.
Invest in BTCMTX tokens now while they are priced at just $0.0134. Act quickly as the price will increase in less than half an hour.
When you buy and stake BTCMTX, you also automatically secure a place in the ongoing market. $30,000 Mine Throwing Contest. Ten winners will be selected and each will receive a prize of $3,000.
#BitcoinMinetrix $30,000 Minedrop Now Available!
Get ready for your chance to win a share of $30,000 in $BTCMTX!
Follow the steps in the link below for your chance to win one of ten $3000 $BTCMTX Awards!
https://t.co/v1UKskxi4Y pic.twitter.com/nseOBTNO9N—Bitcoinminetrix (@bitcoinminetrix) October 5, 2023
According to Jacob Bury, a prominent YouTube crypto analyst, BTCMTX has the potential to rise 10x at launch.
To participate in the pre-sale, visit the official website of BTCMTX and exchange your eth or USDT for BTCMTX. You can also make purchases directly with your bank card..
Related news
- Audited by Coinsult
- Secure and decentralized cloud mining
- Earn free bitcoin daily
- Native Token on Pre-Sale Now – BTCMTX
- Staking Rewards: Over 50% APY
Join our Telegram channel to stay up to date on breaking news coverage
