News Headlines Price Action Bitcoin has continued to rally up from the 1-year moving average which we have cited frequently in this newsletter as THE key support level for Bitcoin bull markets. So far so good, that key support level held and BTC bounced hard off it at the start of the month. Not only has BTC since rallied up from that key moving average, over the past week it has also confidently broken above the 200-day moving average.
Figure 1: BTC smashed through the 200-day moving average. It is now back in the Q4 2024 - Q1 2025 price range that followed the Bitcoin spot ETF launches. Resistance at the top of the range is $106,000. That will be the next major upside target for BTC. Zooming out, BTC is now up almost 50% over the past 12 months, currently up +48.82%.
Figure 2: BTC price action over the past year. The Big Story: From “Digital Curiosity” to Top-Five Heavyweight In the span of 15 years, Bitcoin has moved from an academic oddity to brushing shoulders with century-old giants. When BTC punched through $94K on 23 April last week, Companies MarketCap data showed BTC edging past Alphabet and the total above-ground value of silver, grabbing the #5 slot for largest asset globally. The ascent was powered by a wave of risk-on sentiment after U.S.- China tariff rhetoric cooled and by a weaker dollar index, which fell to two-month lows. While Amazon’s share price rebound has since nudged Bitcoin back to #7 on the leaderboard, the gap is narrow - less than $140B separates BTC from reclaiming fifth spot.
Figure 3: Bitcoin ranking 7th in global assets. That volatility underscores how quickly the standings can flip in a market where 1–5% daily moves in these mega-caps are now common. High ETF Demand Bitcoins performance last week was supported by very strong inflows into the spot Bitcoin ETFs.
Figure 4: Bitcoin Spot ETF Flows. After weeks of negative outflows, last week saw major inflows as confidence roared back into the market. Just two daily trading sessions saw more than 19,200 BTC of inflows into the ETFs. With all the global macro uncertainty, Bitcoin’s “digital gold” narrative continues to be extremely appealing to institutional investors. Whether Bitcoin can cement a permanent spot in the top five assets list will hinge on sustained institutional flows, macro stability and the pace at which traditional investors embrace Bitcoin in a world awash with fiat liquidity. For now, the message is clear: Bitcoin has earned its seat at the global-asset table, and every bout of volatility is being watched by the largest pool of capital it has ever had. Live Chart Review: Property Priced in BTC
Figure 6: US Median House Priced in BTC. What is this chart showing? U.S. Median House Prices valued in Bitcoin over time. Calculated by dividing the U.S. Median House Price by the price of Bitcoin. The result (blue line) shows how many bitcoin are needed at a given moment in time to purchase a house based on the U.S. Median House Price. Latest data Currently only 4.4 BTC is needed to purchase the median house price in the U.S. which stands at $416,900. This is close to an all time low for the number of bitcoin needed. It may not be long before less than 4 BTC is needed. Keep tracking that blue line! Speak again soon, The Bitcoin Magazine Pro Team. Bitcoin Magazine Pro
For more detailed Bitcoin analysis and to access advanced features like live charts, personalized indicator alerts, and in-depth industry reports, check out Bitcoin Magazine Pro. Make Smarter Decisions About Bitcoin. Join millions of investors who get clarity about Bitcoin using data analytics you can't get anywhere else. We don't just provide data for data's sake, we provide the metrics and tools that really matter. So you get to supercharge your insights, not your workload. Take the next step in your Bitcoin investing journey:
Invest wisely, stay informed, and let data drive your decisions. Thank you for reading, and here’s to your future success in the Bitcoin market! 🎁 Special Offer: Use Code: BMPRO For 10% OFF All Bitcoin Conference Tickets
Disclaimer: This newsletter is for informational purposes only and should not be considered financial advice. Always do your own research before making any investment decisions. We sincerely appreciate your support and hope you found this content valuable. Please leave a like and let us know your thoughts in the comments section; we always welcome feedback from our audience!
|
Monday, April 28, 2025
BTC Breaks Above Key Resistance Levels
Subscribe to:
Post Comments (Atom)
Popular Posts
-
DAS NYC is where the industry comes together. ...
-
Is the latest JGB selloff a headwind or a tailwind for liquidity (and thus risk)? ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ...
-
The New York Stock Exchange is ready to embrace blockchains in a massive way. ͏ ͏ ͏ ͏ ͏ ͏ ...
-
As U.S. lawmakers push crypto legislation shaped by banking interests, crypto investors are preparing for the regulated era. ...
-
Secure Your Tickets Today ...
No comments:
Post a Comment