Will the bullish BTC indicator that caused the reversal return and possibly reach $70,000? Chief Cryptocurrency analyst Jamie Coutts highlighted an indicator that paints a bullish outlook for BTC (BTC). Based on this indicator, the Cryptocurrency analyst believes that the flagship Cryptocurrency may have experienced a reversal. Coutts mentioned in a previous Twitter post that the decline in BTC's Hash Rate is slowing down, which typically signals a bottom reversal of the bearish cross that occurs after the Halving event. However, he warned that the bullish reversal still depends on the stability of the downward trend. The Cryptocurrency analyst further pointed out that the percentage difference between the 30-day and 90-day moving averages is consistent with the previous Hash Rate contraction, but not as severe as after the Halving in 2020. The slowdown in BTC Hash Rate decline is significant because it indicates that Miner capitulation may soon come to an end. Cryptocurrency expert Willy Woo previously mentioned that when "weak Miner dies, Hash Rate recovers", the market will rebound. He further explained that inefficient Miners will have to go bankrupt, while other Miners will be forced to purchase more efficient hardware. CEO Ki Young Ju provides insights on when this Capitulation of Miners will end. He states that this Capitulation typically ends when the daily mining value reaches 40% of the annual mining value. The founder of Crypto further reveals that the current ratio is 72%, indicating that Miners may still need some time to cool down and sell off their reserves. Ki Young Ju told market participants that the Cryptocurrency market is expected to remain flat in the next two to three months. He urged them to remain bullish in the long term, but to avoid excessive risks. Analysts such as Mikybull Crypto also ensure a positive long-term outlook for BTC, as the flagship Cryptocurrency is far from reaching its Bull Market peak. Coutts also mentioned that the market is still recovering from oversupply. This is related to the selling pressure on BTC, as the German government has sold nearly 50,000 BTC to the market. Therefore, it may take some time for the market to absorb this BTC supply. While this selling pressure has had a negative impact on the market, Coutts argues that the sale by the German government and the distribution of Mt. Gox reserves can help alleviate the 'frustrating supply overhang.' The analyst points out that this will be achieved by distributing these tokens to a wider range of holders, which in turn will expand the BTC network and make the flagship cryptocurrency better than before. According to the data, the trading price of BTC is about $62,441, which has pumped more than 5.22% in the past 24 hours. (Data Source: Scott Matherson)

Has Bitcoin hit bottom? Buying sentiment fades as it drops to $60,000. Since hitting an all-time high in March, Bitcoin has been on a decline. This has largely led to buying sentiment among cryptocurrency traders on dips, with many believing that once the adjustment is over, Bitcoin will soar to new highs again. According to the data from the cryptocurrency analysis platform, as the price of Bitcoin hovers around $60,000, the excitement of buying "cheap" Bitcoin seems to be waning. As the data platform points out, this weakening of the "buy the dips" mentality may actually be a signal that Bitcoin is approaching its bottom. On Friday, Bitcoin plummeted from $63,000 to $60,000, continuing its range-bound trading over the past few weeks. As indicated by the data platform, traders' enthusiasm for buying the dips has been decreasing based on social media interactions. Although this may cause some investors to worry, the unique price trend of Bitcoin over the years has prompted Santiment to point out that this is often a good sign that the bottom is approaching. To further explain this point, when Bitcoin experiences a big dump from its historical high, the sentiment tends to become very negative. However, historically, the moment when the "buy the dips" sentiment on social media starts to fade often indicates that the bottom is closer than most people imagine. "The remarks of '逢低买入' gradually fading away indicate that the weak and fearful bears have sold off and the bulls are starting to position themselves." Unfortunately, it is not possible to determine whether the price has bottomed out until after the fact. However, the key support level on the Bitcoin chart has not been broken, and the fundamentals have not changed. If Bitcoin continues to stay above $60,000, this may indicate that the bottom has arrived. Meanwhile, the bullish spot Bitcoin ETF is still driving the mainstream adoption rate higher, which means that cryptocurrencies may soon reverse to a fully bullish trend. Other key factors also indicate that Bitcoin is approaching the bottom. As pointed out by cryptocurrency analyst Willy Woo, Bitcoin's risk signals have recently reached a lower high, a pattern that often paves the way for a bullish trend. The current Bitcoin trading price is $61,000, which has dropped 4.2% in the past 7 days. Although Bitcoin may have formed a bottom, this calm trend may continue for the next few months until the halving supply shortage affects its price. It is worth noting that some new whale addresses are quietly accumulating Bitcoin. On-chain data from Whale Alerts shows that recently, 1,999 BTC has been transferred to new private addresses. (DataSource: Scott Matherson)

Some projects to keep on your watchlist. All of these have yet to be vetted. #DYOR AI $FET$ [Software Development Kit Interchain] $RNDR$ [GPU power] Layer-1 $AZERO$ [Directed Acyclic Graph Proof-of-Stake] Perpetual Futures DEXs $WOO$ [0 Fees DEX] Tokenization $QNT$ [Communication] $MNW$ [Supply Chain] Cross-chain $ROUTE$ [Communication] $CHNG$ [Cross-chain DEX]

According to analyst Willy Woo, based on the historical adoption curve of Bitcoin, he explained when Bitcoin can develop to a level comparable to the US dollar (USD). Woo stated that the financial industry now sees Bitcoin as a rapidly rising asset class. However, the current total market capitalization of this currency is only about $1.2 trillion, while analysts point out that the value of asset classes is usually in the trillions of dollars. Woo believes that this expectation for BTC means that the financial industry believes in three things: BTC will grow at least tenfold from now on (breaking through the $10 trillion market cap barrier), will be on par with the US dollar in terms of scale, and will become a reserve asset. Woo refers to the 'adoption' curve of cryptocurrency, from the chart, it can be seen that, according to the analyst's model estimate, the number of Bitcoin users currently accounts for about 4.7% of the world's population. If the S-curve of the Internet continues, BTC may still be in the early stages. Assuming this is indeed the case, the number of users of this token will accelerate from now on. Woo believes that this could happen in the 2030s when the curve enters the 25% to 40% range.

According to Nansen data, the 24-hour fund inflow tracking list on the Ethereum network for Smart Money is as follows: WOO: inflow of $1.81 million, current price $0.265, 24-hour decline of 0.33%. ACX: Inflow of $1.46 million, currently priced at $0.375, 24-hour increase of 0.05%; PEPE: Inflow of 830,000 US dollars, now quoted at 0.0000129 US dollars, 24-hour increase of 9.66%.

Odaily Planet Daily News According to cryptocurrency analyst Willy Woo, if Bitcoin breaks through $72,000, it will trigger a large-scale close position wave, paving the way for a new historical high. He posted on X platform, saying, 'Reaching $72,000 is the trigger for a series of liquidations. A large number of short positions could be closed at any time, and Bitcoin could reach a peak of $75,000, hitting a new all-time high.' According to CoinGlass data, if the price of Bitcoin breaks through $72,000, the accumulated leveraged short positions of all exchanges will close $800 million. (Cointelegraph)

Why won't Bitcoin fall below 30K again? Will Bitcoin (BTC) still see a significant price correction? According to Willy Woo, a well-known Bitcoin price expert, unlikely. The on-chain analyst used blockchain data that mapped the average buying price of Bitcoin investors to determine that the asset might not fall below $30,000 again. In an X post published on Tuesday, Woo shared the "Bitcoin Cost Base Density Map" – a contour plot that tracks the supply of bitcoin based on the price at which long-term investors buy it. The line chart shows a dense gray band that reflects the price at which most of Bitcoin's supply moved at the time, reflecting a "strong agreed value." The analyst claims that the range has been a reliable price support since the birth of bitcoin and has never been retested under three specific conditions. These conditions include a strong range of the agreed price, the emergence of a bear market, and the upcoming "halving" of Bitcoin. This is what Bitcoin is like today: not only has the asset risen 130% since the infamous FTX collapse last year, but the next halving (a cyclical event that halves the rate of new BTC issuance) will come in April 2024. Woo's chart shows that in the history of bitcoin, such a channel has formed 8 times under relevant conditions and has always supported the price of bitcoin at such times. "Bitcoin is far from saturating the commodity market," Wu wrote. "What we've seen in the 13 years of this chart is the widespread adoption of BTC. ” "Only the price of spot ETFs will go up," he added. However, not everyone believes in Woo's assumptions: price analyst TXMC noted that Woo made a similar prediction in 2021 that Bitcoin would never fall below $40,000 again, but failed the following year. "He's back, and the floor price is only 20 percent below current levels," he said. "We're really in a loop. ” Another popular analyst, Plan B, made a similar prediction on Sunday, claiming that the price of Bitcoin would remain between $32,000 and $64,000 until the next halving. The analyst's estimate is based on his signature stock flow model – a rough model of Bitcoin's price appreciation based on scarcity. However, the predictions of Plan B have also been seriously missed in the past. Analysts expect the price of BTC to reach $135,000 in December of that year in 2021, although the asset only reached its peak of $69,000 in November. He also predicted in February that Bitcoin would rise to $100,000 by the end of 2023. As of November, the asset was trading at just $36,000. （数据来源：Andrew Throuvalas）

February Narratives/Watchlist AI: $FET$ - SDK Interchain, $RNDR$ - GPU Power L1: $AZERO$ - Directed Acyclic Graphs Proof-of-Stake Perp DEX: $WOO$ - 0 Fees Tokenization: $QNT$ - Communication, $MNW$ - Supply Chain Cross-chain: $ROUTE$ - Communication, $CHNG$ - Cross-chain DEX Like and follow for follow-up analyses.

Analysts say Bitcoin breaking through its all-time high is "just a matter of time". In a recent article by analyst Willy Woo, the recent trends in Bitcoin inventory on centralized trading platforms were analyzed. Figure 1 shows the changes in spot and paper BTC reserves over the past few years. In the past few months, the amount of Bitcoin in spot wallets has been decreasing. Currently, the total amount of Bitcoin held in centralized entities has dropped to only 2.3 million coins. It is evident that the sum of spot and "paper" BTC (highlighted in purple) is also decreasing. Here, "paper" BTC refers to derivative products related to cryptocurrencies that investors do not actually need to own. Therefore, given that the total inventory of cryptocurrency exchanges has decreased, it appears that the decline in spot BTC is not due to the replacement of paper BTC. Generally speaking, the supply of exchanges is considered as part of the supply of Bitcoin and is available for trading. Therefore, the reduction in available supply may be a positive signal for cryptocurrencies due to the way supply and demand dynamics work. From the chart, it can be seen that the decline in exchange inventory occurred during a period of distress after the cryptocurrency price reached an all-time high (ATH). As Woo pointed out, when everyone was panicking because the price of Bitcoin had not risen in the past two months, available BTC was quietly being bought up, and importantly, there was no physical BTC being printed to replace it. Therefore, during such a period, a decrease in available supply may be a favourable signal for Bitcoin. "BTC breaking through its historical high is only a matter of time," the analyst said. In another X post, Woo also discussed how the capital inflow of Bitcoin has just started to recover after a sharp decline earlier. The network inflow surged to its historical high, but they observed a significant slowdown in subsequent consolidation. The inflows of spot exchange-traded funds (ETFs), highlighted in light green, have also disappeared earlier, but now they are following these new ones. Bitcoin had previously rebounded to a high of $71,000, but in the past few days, it seems to have declined and is currently below $68,000. (Data source: Keshav Verma)

Analyst Prediction: Bitcoin is on the verge of a huge rally, Bitcoin could reach a high of $150,000? BTC recovered to $67,000, and ETH broke through $3,900 again. Cryptocurrency analyst Willy Woo has caught the attention of the crypto community with his latest take on Bitcoin (BTC), suggesting that the asset is about to rise sharply. This optimism comes on the heels of the approval of a spot bitcoin ETF, which Woo believes will introduce more capital to the market, potentially catalyzing a "huge rally" in Bitcoin's value. Willy Woo shared his analysis on X, using Bitcoin's historical performance to reveal its future trajectory. Woo recalls July 2010, when Bitcoin was worth just 0.7 cents and rose tenfold in just five days, followed by a 1,000-fold increase over the next two years. The analyst also attributed the increase to Bitcoin's exposure to global liquidity, particularly through its integration with the Mt. Gox trading platform. Today, Woo sees a similar scenario, albeit on a larger scale, with Bitcoin listed on the global stock market and regulating around $100 trillion in capital. Wu said the influx of interest and investment in these quarters could dwarf the technical analysis charts that currently signal overbought conditions. This is reminiscent of the cycle of late 2020, when Bitcoin attracted a lot of spot buying from high-net-worth individuals. While Willy Woo pointed out that structural conditions set the stage for Bitcoin's rally, other market analysts and traders are making their predictions. Peter Brandt, a well-respected figure in the trading world, also shared his thoughts on Bitcoin's growth potential. Brandt's analysis suggests that Bitcoin could reach a high of $150,000 by October 2025 if the post-April 2024 bullish trend reflects the momentum observed since the November 2022 lows. In bullish forecasts, opposing views and indicators indicate a more cautious outlook. Ali, a cryptocurrency analyst and trader, recently spotted potential signs of an impending correction in the price of Bitcoin. Using the Tom DeMark (TD) series indicator, Ali noticed a sell signal on the Bitcoin daily chart. Given the indicator's track record of accurately predicting Bitcoin trends since the beginning of the year, this development is worth keeping an eye on. In the early days, a buy signal came before a 34% price increase in January, and a 4% drop in price after a sell signal in the middle of last month. With TD Sequential signaling a sell, there has been speculation that Bitcoin could see a short-term correction. (Source: Samuel Edyme)

Cryptocurrency analysts believe that the next highest price of Bitcoin could be $89,200 According to the on-chain indicator, an analyst explained where the next potential local high for Bitcoin could be at $89,200. In a new post on X, analyst Ali Martinez discussed where the next peak of BTC could be based on Cumulative Value Days Destroyed (CVDD). CVDD is an on-chain indicator derived from Coin Days Destroyed (CDD). "Coin day" refers to the amount accumulated by 1 BTC after being idle on the blockchain for 1 day. When a coin that has accumulated a certain number of coin days moves on the network, the carried coin days will naturally reset to zero, which is called "destruction". CDD measures the coin-days destroyed for the entire market on a certain day. Since each transaction also has a certain dollar value based on the price at the time, CVDD adds another layer of context to CDD by calculating the dollar value of each coin, breaking the dormant state to destroy its coin-days. Unlike CDD which only tracks the number of days tokens are destroyed, CVDD is the cumulative sum of asset history. More formally, CVDD is calculated by dividing the cumulative sum of value-time destroyed on the network by the age of the cryptocurrency. Analyst Willy Woo designed the original CVDD, which has proven to be very accurate in determining historical bottoms of asset prices. However, in the context of the current theme, the modified version of 'Assessing Tops' by author Binh Dang makes a lot of sense. The indicator combines the 50-day moving average (MA) of the bitcoin spot price with CVDD to assess potential top points of the asset, as its name suggests. Now, here is a chart showing how the value of Bitcoin evaluation tops has recently changed. From the chart, it can be seen that the spot price of Bitcoin briefly surpassed the evaluation top in March. When the asset exceeds this indicator, its price tends to overheat and form a top easily. It seems that this trend has also been maintained in the recent breakthrough, as the asset reached its peak shortly after the breakthrough. The current value of the Bitcoin assessment top indicator is $89,200. Although it may not necessarily form a top if Bitcoin rises to this level, according to this indicator, the peak value may at least be close when Bitcoin rises to this level. The current trading price of Bitcoin is about $69,300, which has fallen by more than 1% in the past week. (Data Source: Keshav Verma)

Analysts explain why Bitcoin must remain above the $59,600 level Bitcoin long head may soon be rejuvenated. on-chain analyst Willy Woo said market data showed that the emergency "market sell-off" that caused Token fall to break its all-time highs is now fall. This development could push prices higher, preventing further sell-offs. This preview is due to a drop in Cumulative volume Increment (CVD) data, which is a on-chain indicator that can also track market sentiment. Specifically, it tracks the buying and selling behavior of market participants. Woo said that now that CVD is declining, longest BTC holders may be willing to weather the storm. Their decision may directly supporting the price. Woo added that Bitcoin must resist selling pressure and end the current short-term weakness. As on-chain data shows, BTC should remain above $59,600. CVD lies have historically distinguished between bullish and fall zones. Based on this, BTC should stay above $60,000 for the upward pump to continue. If not, the shorts have the upper hand and pushing the price below the CVD level could mark the beginning of a new shorts regime. So far, BTC has faced significant selling pressure, falling about 15% from its all-time high. The Token has supports near the $60,000 and $61,000 areas, moving in a range. The upper resistance level is at an all-time high around $74,000. As Woo points out, based on this preview, any loss below $60,000 could lead to a BTC sell-off. The Token could fall to $53,000 in the short term, triggering stop losses and intensifying sell-offs. Whether the BTC long will return depends mainly on the participation of institutions in the coming days. Since the approval of the Spot Bitcoin exchange Exchange Traded Fund (ETF) in January, the price has soared, breaking the previous all-time high. The involvement of institutions is crucial. However, inflows slowed, especially in the last two weeks of April. Analysts are currently eyeing the launch of Spot Bitcoin ETF in Hong Kong on April 30. Chu Haokang, head of digital asset management in Hong Kong, expressed optimism in a recent interview. Haokang expects volume to surpass that of the United States. The executive said that the product is unique and allows for physical subscriptions, which is more appealing to BTC Miner. In addition, it is global and has attracted the interest of investors from Singapore and the Middle East. (Source: Dalmas Ngetich)

Analyst: If the longest is in power, Bitcoin will have a 12-year Bull Market to $650,000? Despite seller pressure on Bitcoin prices, on-chain analyst Willy Woo believes the Bitcoin will still hit new highs thanks to the launch of a new Bitcoin exchange exchange-traded fund (ETF). Woo said in a post on X that the Token could soar to $91,000 at the bottom of the Bear Market, but could soar to $650,000 at the top of the Bull Market. However, assuming leading asset managers fully deploy their proposed allocations to the world's most valuable encryption assets, Bitcoin will only soar to such a huge valuation. At the spot Exchange Rate, Bitcoin looks volatile. Even after soaring to an all-time high of over $73,000 in mid-March 2024, the Token is still under pressure. So far, the prices are in one range. The upper bound of the current range is $73,800, the all-time high, and the lower bound is around $61,000. As long as the price is within this zone, the rising trend will continue. This preview is built for most of the first quarter of 2024 after the first Bitcoin ETF Spot in the U.S. is approved. In X's post, analysts should note that pumping up to $91,000 and $650,000 are long-term goals, not those of the current market cycle. Most importantly, it will depend on how quickly and aggressively asset managers like BlackRock add BTC to their longest portfolios, Woo added. Even so, the forecast does not include inflows from non-hosted wallets. Capital flows from these wallets are expected to be higher due to the rise in Crypto Assets adoption. According to Woo's assessment, asset managers manage around $100 trillion globally. If they decide to invest 2% of their holdings in Bitcoin, as recommended by Fidelity, the asset could earn about $2 trillion. Moreover, considering that the Token based on on-chain movement is worth about $561 billion, the total investment will reach $2.56 trillion. Using the market value to realized value (MVRV) ratio, BTC could soar to a market high of $650,000 during a Bull Market cycle, Woo said. MVRV is a metric that compares market capitalization with on-chain investments. Conversely, if the Crypto Assets market crashes, BTC could hit a Fluctuation low of $91,000. The MVRV ratio is typically 5x at the top of a Bull Market and 0.7x at the bottom of a Bear Market. Woo believes that Bitcoin, like gold, is ready for a 12-year Bull Market. Even so, adoption and emerging regulations in Europe and Asia will determine its path towards $91,000 and $650,000. (Source: Dalmas Ngetich)

Crypto Narratives List The listed narratives vary in age and popularity, and I won't be discussing their potential or which ones to choose in this post, nor will I provide extensive technical analysis unless requested. The list is presented in no particular order and includes the following: Real Yield, which includes tokens like $CRV$, $FXS$, $GMX$, and $DPX$. Real World Assets (RWA), which includes tokens like $MKR$, $CFG$, $GFI$, $MPL$, and $TRU$. Liquid Staking Derivative (LSD), which includes tokens like $LDO$, $FXS$, and $RPL$. ZK-EVM, which includes tokens like $KNC$ and $ROSN$. Soulbound token (SBT), which includes tokens like $GFI$. On-chain Option trading, which includes tokens like $HEGIC$ and $RBN$. Modular blockchains, which include tokens like $CELT$. Artificial Intelligence (AI), which includes tokens like $OCEAN$, $FET$, $AGIX$, $ORAI$, and $RNDR$. Layer2 (L2), which includes tokens like $OP$, $MATIC$, and $METIS$. Composable Networks, which includes tokens like $GMX$ and $CRV$. Perpetual DEXes, which include tokens like $GMX$, $GNS$, $DYDX$, and $WOO$. Gaming/Metaverse, which includes tokens like $APE$, $MANA$, $AXS$, $SAND$, $MAGIC$, and $ILV$. Omnichain, which includes tokens like $STG$, $RDNT$, and $JOE$. Crosschain, which includes tokens like $ROUTE$, $CHNG$, and $HFT$. Privacy, which includes tokens like $ROSE$, $RLC$, $CSIX$, and $NYM$.

BitKuai.com reported: This week, the cryptocurrency market will close in the red zone led by Bitcoin, and signs of US inflation continue. The new week will bring many important events and a large number of altcoins locked and waiting for users, especially the interest rate decision of the Federal Reserve. 26 altcoins, including AltLayer and WOO Network, will unlock their tokens this week.