Bitcoin
Will The Top Crypto Defy Historical Downtrends?

Bitcoin historically tends to have a tough time during the month of September, as quite often it delivers negative returns to traders. Despite the gloomy trend, the current forecast of BTC price is surprisingly rosy, anticipating it to rise 30% by October 1, 2024. But will this bullish forecast last, or is Bitcoin in for yet another raw deal in the weeks ahead?
BTC prices have not been able to stay above $60,000. The coin was most recently rejected at the psychological level on August 27. It then went through a quick 10% correction over the next two days. That drop helped wipe out $140 million in leveraged BTC longs. Speculators now join the chorus of many wondering: why can’t Bitcoin break through $60,000?
Mixed Bag Of Metrics
Despite this, on-chain evidence suggests otherwise. Santiment reported $4.2 billion in August 2024 crypto trading profits. Despite substantial profit-taking, whale transactions—large transfers worth $100,000 or more—have dropped to their lowest levels in almost four years, suggesting that big players are holding onto their crypto in anticipation of rising prices.
The supply of Bitcoin on exchanges has also fallen to its lowest in as many months. Normally, when the supply on exchanges begins to fall, this is a sign of bullishness. Less Bitcoin on the exchanges means less people looking to sell it. Theoretically, this can drive up the price of it.
But here is the catch: Spot Bitcoin ETFs that were supposedly going to herald unprecedented institutional inflows have seen underwhelming outflows. Some analysts make sure to note that ETF outflows are always a lagging indicator, as bearish mood after major news events usually reflects later on. Yet, such outflows only add more ambiguity to that, and traders simply remain in doubt whether this promise of institutional demand ever comes or just fizzles out.
ETF Outflows And Traditional Markets
Further, contributing to Bitcoin’s current quagmire is traditional finance. Concerns from conventional finance players caused the crypto asset’s $61,000 rejection. High dependence on tech firms, especially AI-driven ones, worries them. This has increased pessimism, matching market expectations for a 100% interest rate decrease in September.
Recent fluctuations in the price of Bitcoin have moved in lockstep with the S&P 500 index, underlining the increasingly correlated nature of cryptocurrency and traditional markets. That may mean the future of Bitcoin is pegged to general economic fortunes – for better or worse.

Bitcoin: Time To Buy?
At the time of writing, BTC was trading at $57,515, down 1.5% and 10.3% in the 24-hour and weekly timeframe, data from Coingecko shows.
Although on-chain statistics show promise, the prevailing mood is far from optimistic. By October, CoinCodex’s most recent Bitcoin price estimate predicts the price 40%. That is rather significant. Their technical indicators, however, show a bearish attitude, and the Fear & Greed Index comes out as Fearful, at 26.
Featured image from CNBC, chart from TradingView
Bitcoin
Here Are The Bitcoin Levels To Watch For The Short Term


Bitcoin has produced a range-bound movement recently, with prices oscillating between $83,000 and 86,000. Interestingly, popular crypto analyst Burak Kesmeci has identified the important price levels for any short-term action.
Support At 82,800, Resistance At 92,000 – But Where Is Bitcoin Headed?
In a new post on X, Kesmeci shared an interesting on-chain analysis of the Bitcoin market. Using the short-term investor cost basis, the analyst identified two key price levels that could prove critical to Bitcoin’s next major move.
Firstly, Burak Kesmeci focuses on the average cost prices of new traders over the past 1-4 weeks, which are likely the most reactive to price changes. The realized price for these traders currently stands at $82,800, forming a near-term support that indicates many recent buyers are still in profit and may defend this level as a psychological floor.
Meanwhile, Kesmeci also highlights the $92,000 price level, which marks the average cost basis for BTC holders for 1-3 months. This price point has emerged as an important resistance zone, as investors are likely to exit the market once they break even. Furthermore, the $92,000 price level is also marked by a confluence with various technical indicators.
The interplay between these two levels is significant. Historically, short-term bullish trends in BTC tend to begin when the cost basis of more recent investors, 1–4 weeks, crosses above that of the 1–3 BTC holders. This shift signals increased confidence and willingness to buy at higher levels, which often fuels broader rallies.
However, that dynamic remains to play out in the current market. As of now, Bitcoin is trading around 85,000, positioning it above its support at the 1–4 week average of $82,800 but still below the 1–3 month resistance of $92,000. Furthermore, both cost basis levels have been declining over the past two months, reflecting hesitation or a lack of aggressive buying from new entrants.
Notably, Kesmeci states that BTC must surge above $92,000 to confirm a strong bullish momentum for a price reversal.
Bitcoin ETFs Offload 1,725 BTC
In other news, Ali Martinez reports that the Bitcoin ETFs have suffered withdrawals of 1,725 Bitcoin, valued at $146.92 million, over the past week. This development illustrates a high level of negative sentiment among institutional investors, adding to market uncertainty around the BTC market.
Meanwhile, Bitcoin trades at $85,249 following a price change of 0.89% in the past day. The premier cryptocurrency also reflects a 0.58% loss on the weekly chart and a 1.06% gain on a monthly chart.
Feature image from Adobe Stock, chart from Tradingview

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Bitcoin
Bitcoin LTH Selling Pressure Hits Yearly Low — Bull Market Ready For Take Off?


Following an extensive price correction in the past three months, the Bitcoin bull market continues to hang in the balance. Despite a modest price rebound in April, the premier cryptocurrency is yet to display a strong intent to resume its bull rally amidst a lack of positive market factors. However, crypto analyst Axel Adler Jr. has highlighted a promising development that could signal major upside potential for Bitcoin.
Bitcoin Long-Term Holders Looking To Halt Selling Pressure
In a recent post on X, Adler Jr. shared an important update in Bitcoin long-term holders (LTH) activity, which could prove significantly positive for the broader BTC market.
Using on-chain data from CryptoQuant, the renowned analyst reports that selling pressure by long-term holders, i.e. amount of LTH holdings on exchanges, has now hit its lowest point at 1.1% over the past year. This development indicates that Bitcoin LTH are now opting to hold on to their assets rather than take profits.
Adler explains that a further decline in these LTH exchange holdings to 1.0% would signal the total absence of selling pressure. Notably, this development could encourage new market entry and sustained accumulation, creating a strong bullish momentum in the BTC market.
Importantly, Alder highlights that the majority of the Bitcoin LTH entered the market at an average price of $25,000, Since then, CryptoQuant has recorded the highest LTH selling pressure of 5.6% at $50,000 in early 2024 and 3.8% at $97,000 in early 2025.
According to Adler, these two instances likely represent the primary profit-taking phases for long-term holders who intended to exit the market. Therefore, a resurgence in selling pressure from this cohort of BTC investors is unlikely in the short-term, which supports a building bullish case as long-term holders currently control 77.5% of Bitcoin in circulation.
BTC Price Overview
At the time of writing, Bitcoin was trading at $85,226 following a 0.36% gain in the past day and a 0.02% loss in the past week. Both metrics only reflect the ongoing market consolidation as BTC continues to struggle to achieve a convincing price breakout beyond $86,000.
Meanwhile, the asset’s performance on the monthly chat now reflects a 1.97% gain, indicating a potential trend reversal as the market correction ceases. Nevertheless, BTC remains in need of a strong market catalyst to ignite any sustainable price rally. With a market cap of $1.67 trillion, Bitcoin is ranked as the largest digital asset, controlling 62.9% of the crypto market.
Featured image from Adobe Stock, chart from Tradingview

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
Bitcoin
Analyst Says Bitcoin Price Might Be Gearing Up For Next Big Move — What To Know


The Bitcoin price seems stuck in a consolidation range, ricocheting off the $83,000 and $86,000 levels over the past week. With no clear direction for the premier cryptocurrency, investors are left wondering what phase the market cycle is in—bullish or bearish.
According to a popular crypto analyst on the social media platform X, the Bitcoin price could be preparing for its next big move in either direction over the next few weeks. In any case, here are the important levels to watch out for in the next few days.
Crucial Levels To Watch For BTC’s Next Move
In an April 19 post on the X platform, crypto analyst Ali Martinez shared an interesting analysis of the Bitcoin price while highlighting the current layout of the world’s largest cryptocurrency by market cap. The online pundit noted that BTC bears and bulls are locked in a battle, leading to a choppy market condition.
Notably, the premier cryptocurrency appears to have entered the $83,000 – $86,000 range on Saturday, April 12. Hence, Martinez’s analysis basically revolves around the price of BTC bouncing off the support and resistance levels on its one-hour timeframe.
Source: @ali_charts on X
As shown in the chart above, the Bitcoin price attempted multiple times to breach the resistance zone around the $86,000 region over the past week. However, the bulls’ optimism was met with the staunch resilience of the Bitcoin bears, as the price of BTC almost always found its way back toward the $83,000 mark.
Most recently, the flagship cryptocurrency made its way toward the $86,000 level on Wednesday, April 16, but failed to break the significant resistance zone after the US Federal Reserve (Fed) chair Jerome Powell suggested that interest rate cuts might not be coming as early as anticipated by crypto traders.
Martinez noted in his post that the next significant move for the Bitcoin price depends primarily on the $83,000 and $86,000 levels. According to the crypto pundit, a breakout above the $86,000 mark could spell the start of a bullish run for Bitcoin, while a break below $83,000 could mean further correction for the market leader.
Bitcoin Price Overview
After reaching its all-time high of $108,786 in January 2025, the price of BTC has been on a steady decline in the past few months. According to data from CoinGecko, the flagship cryptocurrency has losst more than 22% of its value since hitting its record-high price.
As of this writing, the price of Bitcoin stands at around $84,530, reflecting a 0.3% decline in the past 24 hours. Meanwhile, the Bitcoin price is up by more than 1% on the weekly timeframe.
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Featured image from iStock, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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