{"id":51636,"date":"2024-09-14T01:36:00","date_gmt":"2024-09-14T01:36:00","guid":{"rendered":"https:\/\/cointelegraph.com\/news\/bitcoin-price-level-60k-september-crypto-analysts"},"modified":"2024-09-14T12:14:19","modified_gmt":"2024-09-14T12:14:19","slug":"bitcoin-reclaims-60k-and-this-time-is-different-says-analyst","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=51636","title":{"rendered":"Bitcoin reclaims $60K and \u2018this time is different,\u2019 says analyst"},"content":{"rendered":"

Bitcoin has reclaimed the crucial $60,000 price level for the first time since Aug. 30, and the increasing interest from institutional participants signals this time around is unique, according to a crypto analyst.<\/p>\n

\u201cThis time is different,\u201d crypto analyst Rajat Soni wrote in a Sept. 13 X post. Soni explained that Bitcoin (BTC) has been \u201cconsolidating above\u201d $50,000 for over six months.<\/p>\n

However, the last time it was above $50,000 was in 2021, when interest in the asset was mainly from retail investors. He noted:<\/p>\n

\u201cThe price struggled to maintain $50K+ because most of the buying was from retail investors who are notorious for buying and selling based on emotions.\u201d<\/p><\/blockquote>\n

Soni claimed that \u201cInstitutional investors are here, and they\u2019re ready to buy everything retail investors want to sell.\u201d He warned his 96,900 followers that \u201cIf you\u2019re selling, be ready to pay significantly more to get the same amount back.\u201d<\/p>\n

Bitcoin is trading at $60,596, up 4.25% since Sept. 12, according to CoinMarketCap data.<\/p>\n

\"\"
Bitcoin is up 12.40% over the past seven days. Source: CoinMarketCap<\/em><\/p>\n<\/figcaption><\/figure>\n

After Bitcoin surpassed $60,000, pseudonymous crypto trader Jelle speculated that the asset might defy its usual trend of underperforming in September.<\/p>\n

\u201cBitcoin is currently on track to close September in the green,\u201d Jelle wrote. The trader pointed out that it has only achieved a \u201cgreen close\u201d in September three times before: in 2015, 2016, and 2023.<\/p>\n

Related: <\/strong><\/em>Bitcoin \u2019make or break moment\u2018 hangs on $46K BTC price support \u2014 Research<\/strong><\/em><\/p>\n

CoinGlass data shows that September is the worst month for Bitcoin, with the asset posting an average monthly loss of 4.49% over the last 11 years.<\/p>\n

Meanwhile, Into The Cryptoverse founder Benjamin Cowen pointed out in a post on Sept. 14 that it was the \u201chighest daily close for BTC dominance all cycle.\u201d<\/p>\n

At the time of publication, Bitcoin\u2019s market dominance is 57.80%, according to TradingView data.<\/p>\n

Meanwhile, Reflexivity Research co-founder Will Clemente opined in a Sept. 13 X post that there are \u201csome early signs of life showing in the technicals for BTC.\u201d<\/p>\n

\u201cLooking for a reclaim of its 200dma which would coincide with its first higher high in 6 months to start looking at alts,\u201d Clemente added.<\/p>\n

Magazine:\u00a0 <\/strong><\/em>Help! My parents are addicted to Pi Network crypto tapper<\/strong><\/em><\/p>\n

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/p>\n

Check other news for today<\/span> and Please stand by..<\/p>\n

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\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin has reclaimed the crucial $60,000 price level for the first time since Aug. 30, and the increasing interest from institutional participants signals this time around is unique, according to a crypto analyst. \u201cThis time … Bitcoin reclaims $60K and \u2018this time is different,\u2019 says analyst<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":51100,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5651],"tags":[139,3544,3812,5652,10,159,97],"class_list":["post-51636","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptonews","tag-bitcoin","tag-bitcoin-news","tag-cryptonews","tag-emilynews","tag-hyip","tag-hyipnews","tag-hyips","exalt-entry"],"yoast_head":"\nBitcoin reclaims $60K and \u2018this time is different,\u2019 says analyst - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=51636\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin reclaims $60K and \u2018this time is different,\u2019 says analyst - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"Bitcoin has reclaimed the crucial $60,000 price level for the first time since Aug. 30, and the increasing interest from institutional participants signals this time around is unique, according to a crypto analyst. \u201cThis time … Bitcoin reclaims $60K and \u2018this time is different,\u2019 says analystRead more\" \/>\n<meta property=\"og:url\" content=\"https:\/\/emilynews.com\/blog\/?p=51636\" \/>\n<meta property=\"og:site_name\" content=\"EmilyNews\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-14T01:36:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-14T12:14:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/05\/535352.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"836\" \/>\n\t<meta property=\"og:image:height\" content=\"559\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Emilynews\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Emilynews\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/emilynews.com\/blog\/?p=51636\",\"url\":\"https:\/\/emilynews.com\/blog\/?p=51636\",\"name\":\"Bitcoin reclaims $60K and \u2018this time is different,\u2019 says analyst - 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