Bitcoin News Today TheBitTimes.com

The S&P 500 Index is approaching its record high, while the Bitcoin market finds it difficult to surpass the $60,000 mark, indicating potential further underperformance in the short term. Although Bitcoin has remained within a tight trading range for several months, this hasn’t deterred long-term holders. Glassnode’s hodl wave chart reveals that 74% of Bitcoin has remained untouched for at least six months. Investors are keenly watching to see which direction Bitcoin will break out in. According to Aurelie Barthere, principal research analyst at the Nansen on-chain analytics platform, the crypto bull market could persist if the Federal Reserve cuts interest rates while economic growth remains stable. However, if growth sharply slows, the potential for gains in risk assets may be limited. Daily cryptocurrency market performance. Source:  Coin360 In contrast, famous analyst Rekt Capital said in a post on X that Bitcoin could be “just over a mon...

The selling pressure in the Bitcoin market is not as bad as it was during the Terra and Three Arrows Capital crises. Bitcoin (BTC) price may climb by more than 50% in September, a month otherwise considered ominous for the cryptocurrency due to its poor historical returns.  BTC price double-bottom and then to $30K? The conflicting upside signal comes from a potential double-bottom pattern on Bitcoin's longer-timeframe charts against the U.S. dollar. Double-bottoms are bullish reversal patterns that resemble the letter "W" due to two lows and a change in direction from downside to upside. Double-bottom illustrated. Source: ThinkMarkets Bitcoin's decline below $20,000 in July, followed by a sharp recovery toward $25,000 and a subsequent return to the $20,000-level in August, partially confirms the double-bottom scenario. The cryptocurrency would complete the pattern after rebounding toward $25,000. A W-shaped price move in an ideal scenario could be followed by anothe...