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Will It Smash Resistance and Climb?

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Bitcoin price is consolidating above the $96,200 support zone. BTC is showing a few positive signs and might attempt to rally above $99,000.

  • Bitcoin started a decent recovery wave above the $95,000 level.
  • The price is trading above $96,000 and the 100 hourly Simple moving average.
  • There is a connecting bearish trend line forming with resistance at $98,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could start another increase if it clears the $98,000 zone.

Bitcoin Price Eyes Fresh Increase

Bitcoin price failed to continue higher above the $100,500 zone. It started another decline below the $97,500 zone. BTC gained bearish momentum for a move below the $96,000 and $95,000 levels.

There was also a spike below the 61.8% Fib retracement level of the upward wave from the $91,000 swing low to the $102,500 high. The price tested the $95,000 zone and recently recovered some losses. There was a move above the $96,000 level.

Bitcoin price is now trading above $97,000 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $98,000 level. There is also a connecting bearish trend line forming with resistance at $98,000 on the hourly chart of the BTC/USD pair.

Bitcoin Price
Source: BTCUSD on TradingView.com

The first key resistance is near the $99,000 level. The next key resistance could be $100,000. A close above the $100,000 resistance might send the price further higher. In the stated case, the price could rise and test the $101,200 resistance level. Any more gains might send the price toward the $102,500 level.

Another Decline In BTC?

If Bitcoin fails to rise above the $98,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $96,500 level. The first major support is near the $95,500 level.

The next support is now near the $93,700 zone or the 76.4% Fib retracement level of the upward wave from the $91,000 swing low to the $102,500 high. Any more losses might send the price toward the $92,000 support in the near term. The main support sits at $91,000.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $96,500, followed by $95,500.

Major Resistance Levels – $98,000 and $100,000.



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Top 3 Altcoins Trending Today On February 11

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The crypto market has experienced a rebound today, with the uptick in trading activity signaling renewed investor interest. 

As market sentiment improves, several altcoins have recorded gains as they receive attention from market participants. Among the standout altcoins today are AI16z, B3, and PinLink, each showing significant price movements.

ai16z (AI16Z)

AI Agent token AI16Z is one of the altcoins trending today. It currently trades at $0.58, having surged 35% in price in the past 24 hours.

Beyond the broader market rally, AI16Z’s price surge is driven by a notable spike in whale activity. In an X (formerly Twitter) post, an on-chain analyst highlights a recent transaction, revealing that a particular whale address executed a massive $7.5 million swap. 

The transaction included the acquisition of  6.5 million AI16Z tokens at an average price of $0.5609. This large-scale accumulation signals strong investor confidence and adds to the bullish momentum surrounding the AI token.

If this momentum continues, AI16Z could break above $0.68 and target $1.21. 

AI16Z Price Analysis
AI16Z Price Analysis. Source: TradingView

On the other hand, if buying activity wanes, AI16Z could fall to $0.41. 

B3 (B3)

Newly launched Layer-3 coin B3 is another altcoin that has received significant attention today from traders and analysts alike. At the time of writing, the altcoin trades at $0.0063, up 34% in the past 24 hours. 

On an hourly chart, B3’s Relative Strength Index (RSI) is in an upward trend, reflecting the buying activity among traders. It is currently at 56.04.

An asset’s RSI measures its oversold and overbought market conditions. It ranges between 0 and 100, with values above 70 indicating that the asset is overbought and due for a correction. On the other hand, values under 30 indicate that the asset is oversold and may witness a rebound.

At 56.04 and in an uptrend, B3’s RSI suggests that buying pressure is increasing steadily, hinting at a potential continuation of its rally. In this case, the altcoin’s price could reach $0.0075.

B3 Price Analysis.
B3 Price Analysis. Source: Gecko Terminal

However, if selloffs commence, B3’s price may fall to $0.0061. The lack of strong support at this level could cause its price to drop to $0.0052.

AI token PIN is a trending altcoin today. Its price has soared 10% over the past 24 hours, fueled by the general market uptick. However, this rally is not backed by any significant demand for the altcoin, as reflected by its falling daily trading volume.

This has totaled $2.39 million, dropping by 9% in the past 24 hours. When an asset’s price rises while its trading volume falls, a divergence occurs, suggesting that the price increase may not be supported by strong market participation. 

This indicates a lack of conviction or sustainability in the upward trend. It also signals that the price rise is driven by a smaller number of traders, possibly making it more vulnerable to correction.

If PIN reverses its current trend, its value could drop to $0.75.

PIN Price Analysis.
PIN Price Analysis. Source: TradingView

 Conversely, a spike in the demand for the altcoin could drive its price up to $1.53.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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This is Why Bitcoin Could Face a Supply Shock Soon

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Bitcoin may face a major supply shock as exchange reserves hit the lowest point in years. CryptoQuant data shows reserves at the lowest level since it began recording this data in 2022.

Additionally, demand for Bitcoin is spiking from long-term holders despite price turmoils. This supply shock could become a major bullish signal for the coming months.

Is Bitcoin Headed for a Supply Shock?

Since Bitcoin has reached a new era of market integration and institutional acceptance, corporate and individual whales are acquiring as much as they can.

Last month, ETF issuers were buying it 20x faster than miners could produce it, and they collectively hold more than Satoshi Nakamoto. However, due to these trends, Bitcoin’s supply is in jeopardy.

Bitcoin in Exchange Reserves at New Low
Bitcoin in Exchange Reserves at New Low. Source: CryptoQuant

As CryptoQuant data shows, around 2.5 million BTC is currently held in exchange reserves. This is the lowest reserve balance in nearly 3 years.

Additionally, the US Bitcoin ETF issuers and other corporate whales are very flashy buyers, but 69% of the supply is held by individuals. In fact, ETFs recently had their first weekly outflow of 2025, showing that the problem goes beyond them.

US Spot Bitcoin ETF Net Inflows. Source: SoSoValue

In other words, the supply crisis in Bitcoin is very real right now. Additionally, the vast majority of it has been mined already, with only 5.7% remaining. On top of that, unknown quantities are lost. A slight increase in demand could kick off a fresh, bullish cycle.

This demand may be materializing despite Bitcoin’s recent price declines. This week, the market has witnessed a sharp spike in Permanent Holder Demand, signaling strong confidence from individual users. These holders are also selling BTC less frequently. These factors could combine to create a Bitcoin supply shock.

“Soon every billionaire will buy a billion dollars of Bitcoin and the supply shock will be so great that we’ll stop measuring BTC in terms of fiat,” said Michael Saylor in a recent interview.

There’s also the consideration of a Bitcoin reserve in the US and many other countries. In the US, 20 states have currently proposed bills to establish a strategic Bitcoin reserve. If such strategies are approved, state and national governments will purchase BTC, and the supply will further decline.

So, at the current level, a Bitcoin supply chain is very much imminent. However, macroeconomic factors, such as interest rates and global tariffs, will also play a critical role.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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HARRYBOLZ Price Soars 3,000% After Elon Musk’s Name Swap

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Elon Musk’s recent name change on social media platform X (Twitter) inspired a parabolic surge for the HARRYBOLZ token.

It marks the second time Musk has inadvertently inspired a rally for a crypto token by changing his name on the popular social media platform.

Elon Musk Changes X (Twitter) Name To Harry Bōlz

While his X handle remains @elonmusk, the platform’s CEO has changed his account name to Harry Bōlz. In the immediate aftermath of this name change, the price of HARRYBOLZ rallied by over 3,000% before profit booking commenced.

HARRYBOLZ Price Performance
HARRYBOLZ Price Performance. Source: Dexscreener

Notably, this is not the first time Musk has used Harry Bōlz as his name on X. In April 2023, he pulled a similar move, leaving his followers baffled. At the time, followers speculated that the tech mogul was plotting his next major project. Meanwhile, others ascribed the move to his occasional acts playing with fans, saying it was nothing more than wordplay.

Moreover, in January 2023, Musk changed his name to Mr.Tweet and again to ‘Naughtius Maximus’ before reverting back to his original name. More recently, Elon Musk changed his name on X to Kekius Maximus, inspiring a 500% surge for the KEKIUS meme coin.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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