The post Here’s the Massive ‘Obstacle’ Holding Bitcoin’s Price Down appeared on BitcoinEthereumNews.com. Home » Crypto Bits Meanwhile, another analyst explainedThe post Here’s the Massive ‘Obstacle’ Holding Bitcoin’s Price Down appeared on BitcoinEthereumNews.com. Home » Crypto Bits Meanwhile, another analyst explained

Here’s the Massive ‘Obstacle’ Holding Bitcoin’s Price Down

For feedback or concerns regarding this content, please contact us at [email protected]

Home » Crypto Bits


Meanwhile, another analyst explained where bitcoin’s most likely bottom is.

‘;
}
function loadTrinityPlayer(targetWrapper, theme,extras=””) {
cleanupPlayer(targetWrapper); // Always clean first ✅
targetWrapper.classList.add(‘played’);
// Create script
const scriptEl = document.createElement(“script”);
scriptEl.setAttribute(“fetchpriority”, “high”);
scriptEl.setAttribute(“charset”, “UTF-8”);
const scriptURL = new URL(`https://trinitymedia.ai/player/trinity/2900019254/?themeAppearance=${theme}${extras}`);
scriptURL.searchParams.set(“pageURL”, window.location.href);
scriptEl.src = scriptURL.toString();
// Insert player
const placeholder = targetWrapper.querySelector(“.add-before-this”);
placeholder.parentNode.insertBefore(scriptEl, placeholder.nextSibling);
}
function getTheme() {
return document.body.classList.contains(“dark”) ? “dark” : “light”;
}
// Initial Load for Desktop
if (window.innerWidth > 768) {
const desktopBtn = document.getElementById(“desktopPlayBtn”);
if (desktopBtn) {
desktopBtn.addEventListener(“click”, function () {
const desktopWrapper = document.querySelector(“.desktop-player-wrapper.trinity-player-iframe-wrapper”);
if (desktopWrapper) loadTrinityPlayer(desktopWrapper, getTheme(),’&autoplay=1′);
});
}
}
// Mobile Button Click
const mobileBtn = document.getElementById(“mobilePlayBtn”);
if (mobileBtn) {
mobileBtn.addEventListener(“click”, function () {
const mobileWrapper = document.querySelector(“.mobile-player-wrapper.trinity-player-iframe-wrapper”);
if (mobileWrapper) loadTrinityPlayer(mobileWrapper, getTheme(),’&autoplay=1′);
});
}
function reInitButton(container,html){
container.innerHTML = ” + html;
}
// Theme switcher
const destroyButton = document.getElementById(“checkbox”);
if (destroyButton) {
destroyButton.addEventListener(“click”, () => {
setTimeout(() => {
const theme = getTheme();
if (window.innerWidth > 768) {
const desktopWrapper = document.querySelector(“.desktop-player-wrapper.trinity-player-iframe-wrapper”);
if(desktopWrapper.classList.contains(‘played’)){
loadTrinityPlayer(desktopWrapper, theme,’&autoplay=1′);
}else{
reInitButton(desktopWrapper,’Listen‘)
const desktopBtn = document.getElementById(“desktopPlayBtn”);
if (desktopBtn) {
desktopBtn.addEventListener(“click”, function () {
const desktopWrapper = document.querySelector(“.desktop-player-wrapper.trinity-player-iframe-wrapper”);
if (desktopWrapper) loadTrinityPlayer(desktopWrapper,theme,’&autoplay=1’);
});
}
}
} else {
const mobileWrapper = document.querySelector(“.mobile-player-wrapper.trinity-player-iframe-wrapper”);
if(mobileWrapper.classList.contains(‘played’)){
loadTrinityPlayer(mobileWrapper, theme,’&autoplay=1′);
}else{
const mobileBtn = document.getElementById(“mobilePlayBtn”);
if (mobileBtn) {
mobileBtn.addEventListener(“click”, function () {
const mobileWrapper = document.querySelector(“.mobile-player-wrapper.trinity-player-iframe-wrapper”);
if (mobileWrapper) loadTrinityPlayer(mobileWrapper,theme,’&autoplay=1′);
});
}
}
}
}, 100);
});
}
})();


Summarize with AI


Summarize with AI

Bitcoin’s price went through some intense volatility in the past week or so, especially since the attacks between Israel and the USA on one side, and Iran, on the other began on Saturday morning. Within this timeframe, the asset tried to reclaim the coveted $70,000 level on a couple of occasions, but to no avail.

The last such example was on Monday when it skyrocketed by $5,000 in minutes, going from $65,200 to $70,150. However, the bears intercepted the move and pushed the cryptocurrency to under $66,400.

Although it has recovered some ground and is close to $69,000 as of press time, popular analyst CW believes there’s a massive obstacle in its path.

Citing data from Coinglass, they indicated that bitcoin whales are forming sell orders at just over the current levels, which is “holding down the price.” Bitcoin could move higher “when these sell orders disappear,” they added.

Fellow analyst Ali Martinez also weighed in on BTC’s recent performance, and more specifically on its expected bottom during this bear cycle. He noted that the asset has historically bottomed somewhere between the 1.0 and 0.8 MVRV Pricing Bands.

The Market Value to Realized Value Metric is calculated by dividing the former by the latter. Higher levels typically mean that the underlying asset could be overvalued, and vice versa.

You may also like:

If history is any indication, bitcoin’s bottom might not be in yet. Instead, Martinez’s graph shows that it could be somewhere between $43,600 and $54,500.

SPECIAL OFFER (Exclusive)

Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Source: https://cryptopotato.com/btc-rejected-at-70k-again-the-massive-obstacle-holding-bitcoins-price-down/

Market Opportunity
Ucan fix life in1day Logo
Ucan fix life in1day Price(1)
$0.0004574
$0.0004574$0.0004574
+1.44%
USD
Ucan fix life in1day (1) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
Tags: