The best Bybit referral code is “CNJREFERRAL,” which allows new users to receive up to a $30,000 sign-up bonus and enjoy a trading fee discount of up to 30% The crypto market is full of bonuses that can help you kickstart your trading journey. One of the best ways to take advantage of these rewards…
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The best Binance referral code you can find is P8DEY0JB, which will grant you a 10% discount on trading fees for life and also qualify for a 100 USDT cash rebate and other additional rewards when you use this code to open a Binance account. Keep in mind that you cannot add the promo code…
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MEXC exchange is a high-performance trading engine that is capable of processing 1.4 million transactions per second. The cryptocurrency exchange allows users to buy, sell, hold, and trade cryptocurrency without sharing personal information except the email or phone number they used for registration. MEXC Global has gradually become one of the best crypto trading platforms…
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Binance is the most popular cryptocurrency exchange and the largest by trading volume and has served millions of users.Whether you are new to cryptocurrency trading or familiar with other exchanges, the Binance trading platform can be a great place to start or diversify your portfolio. Since you are considering using Binance for crypto trading, it…
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The best crypto exchange is a platform that makes it very easy and safe to trade cryptocurrencies. These platforms let you buy, sell, and store digital assets. And, if you are a day trader, you also need a platform that offers tools for research and technical analysis. Also, apart from the basic trading features, some…
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Cryptocurrency trading means buying and selling digital assets like Bitcoin, Ethereum, and others to make a profit. The trading can be done on centralized exchanges like Binance or Bybit and decentralized exchanges like Uniswap and Raydium. In this guide, we will explain what cryptocurrency trading is and how it works, also cover its benefits, and…
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DeFi losses dropped 40% in 2024 as advanced security measures strengthened protocols, while CeFi breaches surged to $694M.
Bitcoin experienced a highly volatile trading session yesterday, with prices swinging between $92,300 and $96,420 throughout the day. The cryptocurrency now hovers near the $93,000 mark, struggling to establish a clear direction in the short term. As market participants await decisive action, uncertainty looms over whether Bitcoin will sustain its bullish structure or face a deeper correction. Related Reading: If History Repeats Dogecoin Has Potential For A Parabolic Rally – Details CryptoQuant analyst Axel Adler recently shared valuable insights, highlighting a significant trend among short-term holders (STH). According to Adler, these investors continue to sell their coins at high-profit margins, capitalizing on Bitcoin’s recent upward momentum. While profit-taking is a natural part of market cycles, the lack of consistent demand to absorb this selling pressure could challenge Bitcoin’s price stability. If demand fails to match the pace of active profit-taking, a local correction could occur, potentially leading to a decline in Bitcoin’s price. This delicate balance between profit-taking and market demand makes the coming days critical for determining Bitcoin’s next move. Will buyers step in to support the price, or will selling pressure lead to a deeper retrace? Investors and analysts are watching closely as Bitcoin navigates this pivotal moment. Bitcoin Demand Levels Responding Bitcoin has faced days of intense volatility as it struggles to break above the $100,000 psychological barrier while holding firm above the $92,000 support. The market remains in a state of flux, with investors and analysts closely monitoring Bitcoin’s next move. Despite the uncertainty, Bitcoin’s resilience at these key levels highlights the ongoing tug-of-war between bullish and bearish forces. Top analyst Axel Adler recently shared an insightful analysis on X, shedding light on the behavior of short-term holders (STHs). According to Adler, STHs are actively selling their coins at high profit margins, taking advantage of the recent price surges. While profit-taking is a normal part of market cycles, a lack of consistent demand to counter this selling pressure could lead to a local correction and a potential price decline. However, in the event of a price drop, STHs are unlikely to continue selling their holdings, as selling at a loss in a bull market is often considered an unwise move. This dynamic could provide Bitcoin with the breathing room needed to stabilize at its key support levels, currently around the $90,000 mark. Related Reading: Solana Holds Weekly Support At $180 – Analyst Expects $330 Mid-Term If Bitcoin successfully holds above $90,000, a period of consolidation around this level could create the foundation for the next rally, potentially propelling BTC to new all-time highs. The coming days will be critical in determining whether Bitcoin continues its ascent or faces a temporary setback. BTC Holding Above $90K Bitcoin is trading at $93,800 after enduring days of selling pressure and market uncertainty. Despite holding above key support at $92,000, the loss of both the 4-hour 200 moving average (MA) and exponential moving average (EMA) is a short-term bearish signal. These indicators, often viewed as gauges of market momentum, suggest that Bitcoin may need additional demand to regain upward traction. For bulls to reclaim control and ignite a fresh rally, Bitcoin must recover these critical levels. The 4-hour 200 MA at $96,500 and the 4-hour 200 EMA at $98,500 are essential hurdles. Successfully pushing above these thresholds and securing a decisive close beyond them would confirm renewed bullish momentum. Related Reading: Ethereum Whales Bought $1 Billion ETH In The Past 96 Hours – Details If Bitcoin achieves this feat, the stage could be set for a massive rally into price discovery, breaking through psychological barriers like $100,000 and paving the way for new all-time highs. On the flip side, failing to reclaim these indicators might signal extended consolidation or a potential retest of lower support levels. Featured image from Dall-E, chart from TradingView
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