{"id":51716,"date":"2024-09-28T01:45:00","date_gmt":"2024-09-28T01:45:00","guid":{"rendered":"https:\/\/cointelegraph.com\/news\/bitcoin-price-pivotal-juncture-60k-crypto-analysts"},"modified":"2024-09-28T04:56:25","modified_gmt":"2024-09-28T04:56:25","slug":"bitcoin-at-a-pivotal-juncture-60k-not-out-of-the-picture-analyst","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=51716","title":{"rendered":"Bitcoin at a \u2018pivotal juncture,\u2019 $60K not out of the picture \u2014 Analyst"},"content":{"rendered":"

Bitcoin (BTC) is at a critical crossroads. According to crypto analysts, while some traders are optimistic about an imminent surge as BTC price passes $66,000, others are not ruling out a retrace back to $60,000.<\/p>\n

The speculation comes after Bitcoin surpassed $65,000 on Sept. 26 for the first time since Aug. 2.<\/p>\n

Kraken analysts opined in an analyst note viewed by Cointelegraph that:<\/p>\n

\u201cThe recent price action has been relatively tight, reflecting market indecision, as evidenced by the series of small-range doji candlesticks forming on the daily chart.\u201d<\/p><\/blockquote>\n

Daily close above $65K is crucial for bulls<\/h2>\n

The analysts explained that a daily close above $65,000 \u201cwould likely confirm bullish momentum and open the path to higher levels.\u201d<\/p>\n

Meanwhile, amid the current price rise above $66,000, Bitcoin Open Interest (OI) saw an uptick of approximately 3.5% over the past seven days since Sept. 20, at $35.61 billion at the time of publication, according to CoinGlass data.<\/p>\n

However, the Kraken analysts cautioned that if Bitcoin fails to \u201cdecisively break\u201d above $65,000, it could trigger a retracement, with $60,000 being the first significant support level at risk.<\/p>\n

Related: <\/strong><\/em>Bitcoin sell-side risk hits 2024 low just $10K from BTC price record<\/strong><\/em><\/p>\n

They argued that BTC\/USD is \u201cat a pivotal juncture, and traders should closely monitor the price action around these key levels for confirmation of the next directional move.\u201d<\/p>\n

Meanwhile, crypto analyst Matthew Hyland explained in a Sept. 26 analyst video that:<\/p>\n

\u201cThis is the first time that this trend, this downtrend that we have been in for so long, is starting to change.\u201d<\/p><\/blockquote>\n

Bitcoin ETF interest spikes as price passes $65K<\/h2>\n

Echoing a similar sentiment, pseudonymous crypto trader Rekt Capital added that Bitcoin is \u201con the cusp\u201d\u00a0of transitioning into the next stage of the Bitcoin market cycle, the \u201cParabolic Upside Phase.\u201d<\/p>\n

On Sept. 27, Cointelegraph reported that the total aggregate inflows for the 11 spot Bitcoin exchange-traded funds (ETFs) in the United States hit $365.7 million on Sept. 26.<\/p>\n

The bumper ETF inflows were the largest since July 22, when there were inflows of $486 million. It also marked a sixth consecutive trading day of inflows for institutional investment products.<\/p>\n

Magazine: <\/strong><\/em>Advanced AI system is already \u2018self-aware\u2019 \u2014 ASI Alliance founder<\/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 (BTC) is at a critical crossroads. According to crypto analysts, while some traders are optimistic about an imminent surge as BTC price passes $66,000, others are not ruling out a retrace back to $60,000. … Bitcoin at a \u2018pivotal juncture,\u2019 $60K not out of the picture \u2014 Analyst<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":51718,"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-51716","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 at a \u2018pivotal juncture,\u2019 $60K not out of the picture \u2014 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=51716\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin at a \u2018pivotal juncture,\u2019 $60K not out of the picture \u2014 Analyst - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"Bitcoin (BTC) is at a critical crossroads. 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