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: Key Developments in Bitcoin and Ethereum Markets
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 > Technical Analysis > Key Developments in Bitcoin and Ethereum Markets
Technical Analysis

Key Developments in Bitcoin and Ethereum Markets

In Brief

  • Bitcoin block rewards will soon decrease to 3.125.

  • Investors accumulated 27,000 BTC over 24 hours.

  • Ethereum shows resilience despite a drop below $3,000.

COINTURK NEWS
COINTURK NEWS 1 year ago
Share
SHARE

With only hours left until a major event that occurs every four years, Bitcoin block rewards are set to drop to 3.125. So far, 93.7% of BTC supply has entered circulation. The remaining portion will enter the market over the next 120 years at a slowing rate. With increasing demand and a decreasing rate of new supply issuance, the Bitcoin price has been rising for years. The same trend is expected in this cycle.

Contents
Bitcoin (BTC)Ethereum (ETH)

Bitcoin (BTC)

In his latest market assessment, Julio Moreno stated that after the BTC price dropped to $60,000, the selling pressure should weaken. The CryptoQuant executive, a research head at one of the largest companies in the on-chain area, believes that traders have now found the support region. This belief is based on data tracking investor costs.

According to CryptoQuant data, investors accumulated 27,000 BTC during the 24 hours between April 16 and April 17. Turning to technical analysis, the long tail in the last day’s candlestick indicates that bulls actively bought at the bottom.

The relief rally is based on the 20-day exponential moving average ($66,067), which could pose a strong challenge from bears. This level is one of the main barriers before $71,700 and $73,777. However, if the BTC price loses the $60,775 support, sales could continue down to $47,773. The historical decline story with halving is an important detail not to be overlooked.

The ultimate upward target will be a peak of $84,000 in a few months. Of course, for this to happen, April’s inflation data must come in below expectations, and geopolitical risks must be mitigated. Thus, demand through the ETF channel could revive, providing the support bulls need.

Ethereum (ETH)

Altcoin king experienced a frightening drop below $3,000 in the early hours of the day. Bears tried to pull Ether below the lowest level of April 13, $2,852, but failed because BTC recovered much faster. To truly talk about a real bottom, we needed to see such a quick turnaround from a local bottom, which indeed happened.

For ETH, the short-term goal is to close above the 20-day EMA at $3,261, and if successful, a return to $3,679 could begin. Otherwise, the risks of dropping to $2,717 and $2,200 will persist.

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

Experts Predict Next Moves for SOL, SUI, and S Coin

Altcoin Sherpa Predicts Sharp Moves for HYPE, Bitcoin, and WIF

Crypto Prices Rally Beyond Forecasts and Exceed Expectations

Crypto Assets Surge as Global Leaders Prepare for Crucial Talks

Cryptocurrency Insights: How WIF and ETH Reveal New Market Trends

COINTURK NEWS 20 April, 2024 - 12:27 am 20 April, 2024 - 12:27 am
Share This Article
Facebook Twitter
Share
Previous Article Shiba Inu Token Shows Signs of a Bullish Reversal
Next Article Insights on Bitcoin Halving and Altcoin Trends from Analyst Van de Poppe
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

Experience the Real-World Power of Cryptocurrencies with Ripple’s Innovative Pilot
Ripple (XRP)
Experts Predict Next Moves for SOL, SUI, and S Coin
Technical Analysis
Stay Ahead with Key Crypto Developments This Week
Cryptocurrency News
Cryptocurrency Markets Struggle as Bitcoin Holds Steady
Cryptocurrency News
//

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?