Originally published on: September 23, 2024
Bitcoin’s recent rejection near the $65,000 resistance suggests a tug-of-war between bears and bulls as the price fluctuates between $54,000 and $73,777. Yet, a promising rally could be on the horizon, as Bitcoin gears up for its historically strong season from October to March, according to a recent 10x Research report.
What else is driving the crypto market’s performance? The latest CoinShares report reveals that a 50 basis point rate cut by the Federal Reserve on Sept. 18 could lead to inflows of $321 million into digital asset investment products.
As Bitcoin nears a crucial juncture, all eyes are on its potential surge. With historical data indicating significant gains during the final 365 days of a cycle, could Bitcoin break the $65,000 barrier and make its way to $70,000? And could this trigger an altcoin buying frenzy? Let’s dive into the charts to uncover the answers.
S&P 500 Index hit an all-time high on Sept. 19, signaling bullish dominance. Meanwhile, the US Dollar Index (DXY) is under bearish pressure, struggling to break above key resistance levels.
As Bitcoin vies to breach the $65,000 mark, Ethereum (ETH) has already surpassed the 50-day SMA, hinting at a potential trend change. Similarly, BNB, SOL, XRP, DOGE, TON, and ADA are gearing up for crucial moves based on their technical indicators.
Can BNB break above $635 to mark a new uptrend? Will SOL bounce back from support levels to rally higher? And what’s next for XRP, DOGE, TON, and ADA in the near term?
Stay ahead of the curve with our expert analysis on the latest crypto trends and price movements. Remember, every investment decision carries risk, so conduct thorough research before making any moves.
