COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: Analyst Predicts Bitcoin Trends and Market Activity
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Bitcoin (BTC) > Analyst Predicts Bitcoin Trends and Market Activity
Bitcoin (BTC)

Analyst Predicts Bitcoin Trends and Market Activity

In Brief

  • Bitcoin sees critical days as the Fed's decision is awaited.

  • Analyst Martinez highlights significant BTC outflows and network activity.

  • Bitcoin's price and market cap experience notable declines.

COINTURK NEWS
COINTURK NEWS 1 year ago
Share
SHARE

Critical days seem to have begun for Bitcoin. As the Fed’s interest rate decision is eagerly awaited, speculations about market movements continue. Analysts’ comments during this period also hold significant importance. A prominent analyst, known for his predictions, has once again drawn attention with his comments on Bitcoin’s future. So, what does the analyst think will happen with Bitcoin?

Contents
Analyst’s Bitcoin CommentaryBitcoin’s Future

Analyst’s Bitcoin Commentary

A well-known market analyst has once again commented on Bitcoin. As declines continue in the crypto market ahead of the Fed’s interest rate decision, Bitcoin (BTC) continues to see outflows from exchanges. Analyst Ali Martinez shared his views on Bitcoin in a post.

Martinez revealed in his post that approximately 22,647 BTC, valued at around $1.57 billion, were withdrawn from crypto exchanges to wallets over the past week.

Martinez also highlighted an important point, noting that the number of Bitcoin addresses conducting daily transactions recently broke the downtrend that started on March 5, and added:

Within 24 hours, 765,480 BTC addresses were active. This increase in network activity is a positive sign for the continuation of the BTC bull run.

Bitcoin’s Future

The analyst mentioned that Bitcoin is “anchored in a strong support zone” between $69,380 and $67,350, but BTC has now fallen below these levels. In this zone, 1.97 million address holders had purchased 964,000 BTC, and these addresses are currently at a loss.

Martinez made the following statement on the matter:

It is crucial for BTC to maintain this level to sustain its upward momentum.

The analyst also shared a chart showing Bitcoin’s cumulative value days (CVDD). This metric examines the price value at which each Bitcoin was transacted, considering the time elapsed since the last transaction.

According to Martinez, the CVDD indicator he shared points to the next Bitcoin peak level at $89,200.

As of the time of writing, Bitcoin is trading at $66,400 after a drop of over 5% in the last 24 hours. Following the price drop, the market cap fell to $1.3 trillion, while the trading volume surpassed $36 billion after a 95% increase.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

Peter Brandt Sparks Bitcoin Hype with Intriguing Chart Insights

BlackRock’s Bitcoin ETF Overtakes Giant S&P 500 Fund with Soaring Success

BlackRock’s Bitcoin ETF Surpasses Traditional Giants in Fee Revenue

Bitcoin’s Resilience Faces Demand Drought: What Lies Ahead?

Maximize Your Crypto Gains with CryptoAppsy’s Dynamic Features

COINTURK NEWS 11 June, 2024 - 9:21 pm 11 June, 2024 - 9:21 pm
Share This Article
Facebook Twitter
Share
Previous Article Investors Shift Focus to Altcoins as Bitcoin Trades in Narrow Range
Next Article Investors Drive Down Shiba Inu’s Price
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

US Treasury’s Remarks Stir Crypto Market Dynamics
Cryptocurrency News
The Surging Potential of SOL Coin: Why Experts Are Optimistic
Solana (SOL)
Crypto Markets Surge as Tensions and Talks Heat Up
Cryptocurrency News
Peter Brandt Sparks Bitcoin Hype with Intriguing Chart Insights
Bitcoin (BTC)
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?