Market
Is Bitcoin Price Correction Likely Before 2025?
Bitcoin’s (BTC) price has once again hit a new all-time high today, rallying above $85,000 briefly for the first time ever. Following this development, the broader market has turned extremely bullish, with some analysts saying that a Bitcoin price correction might not be far away.
This also comes amid growing predictions that BTC could surge to $100,000 by the end of the year. What’s really happening right now?
Bitcoin’s Impressive Performance Leads to Greed
Over the last seven days, Bitcoin’s price has increased by nearly 20%. This price increase was due to Donald Trump’s sweeping victory in the US elections on November 5. The significant rise in institutional appetite for BTC could also be linked to the cryptocurrency’s jump to a new all-time high.
To determine whether Bitcoin could climb higher or if we’ve hit a local top, it’s crucial to spot whether the market is extremely greedy or in fear. According to Glassnode, the Bitcoin fear and greed index has hit the extreme greed level. Created by Alternative.me, this metric measures investor sentiment in a single number by aggregating data from multiple sources.
Ranging from 0 to 100, values close to 0 signify “extreme fear,” reflecting heightened negative sentiment. In most cases, this region indicates an almost perfect accumulation point. On the other hand, a score of 100 or close to it represents “extreme greed,” indicating maximum Fear of Missing Out (FOMO). If sustained, this position, as seen above, could lead Bitcoin’s price to a correction phase.
Year-to-date, the last time the index hit such a level, BTC’s price collapsed weeks later and went on a long correction and consolidation phase. Therefore, if past performance influences recent events, BTC could be close to retracement.
Interestingly, this development coincides with a warning by CryptoQuant CEO Ki Young Ju. On Sunday, November 10, Young Ju posted that the BTC price prediction at the end of the year could be much lower, at $58,974. He also mentioned that the seemingly overheated market could lead to a Bitcoin price correction in 2025.
“I expected corrections as BTC futures market indicators overheated, but we’re entering price discovery, and the market is heating up even more. If correction and consolidation occur, the bull run may extend; however, a strong year-end rally could set up 2025 for a bear market,” Ki Young Ju emphasized on X.
Investors Continue to Buy, but Analyst Advises Caution
Despite CryptoQuant CEO’s opinion, the Coinbase Premium Index has shown a notable increase. This index measures the activity of US investors. High premium values might indicate strong buying pressure from US investors on Coinbase.
Conversely, a low value might suggest high selling pressure. Therefore, since the current reading suggests otherwise, Bitcoin’s price might continue to climb.
Furthermore, Glassnode data shows that the BTC balance on exchanges has significantly decreased. The balance on exchanges is the total number of coins held in exchange addresses.
When it increases, it means that many holders are prepared to sell, which could lead to a drawdown. Based on the data above, Bitcoin holders have withdrawn nearly 40,000 BTC from exchanges since November 5.
At the current price, this is worth over $3 billion. If sustained, then a Bitcoin price correction might not happen in the short term. Instead, the cryptocurrency’s price might continue to rise.
Crypto analyst Michaël van de Poppe, like Young Ju, also pointed out that the significant increase in futures positions could push Bitcoin’s price down initially before the uptrend resumes.
“Massive futures positions are open and I think we’ll see a flush happening in the coming week before we continue the upward trend.These flushes are tremendous opportunities,” van de Poppe said.
BTC Price Prediction: RSI Steps Into Overbought Zone
Bitcoin is currently priced at $84,760, and the daily chart shows the cryptocurrency trading above both the 20-day and 50-day Exponential Moving Averages (EMAs). Being above these levels suggests that Bitcoin’s trend is bullish.
However, the Relative Strength Index (RSI), which measures momentum, has seen its reading rise above 70.00. Typically, when the RSI is below 30.00, it is oversold. But since it is above 70.00, it means BTC is overbought.
Hence, there is a chance that Bitcoin’s price could undergo a quick correction. If that happens, then the cryptocurrency could drop to $76,571. On the other hand, if bulls do not give bears any breathing space as things stand, this might not happen. Instead, BTC might rally above $86,000 and get closer to $100,000.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
FLOKI price has seen an impressive surge, climbing 21.79% in the last 24 hours and up 62.39% over the past week. This rally has pushed several key indicators into bullish territory, showing strong upward momentum.
However, caution is warranted as some signals suggest that the current trend may face resistance or a potential pullback. The coming days will be crucial for determining whether FLOKI can sustain its rally or if a correction is on the horizon.
RSI Shows FLOKI Is Now Overbought
FLOKI price recent surge has driven its RSI to 71.42, up from 60 just a day ago, indicating strong buying momentum. An RSI above 70 usually suggests that an asset is overbought, hinting at a potential correction.
However, this doesn’t always mean an immediate pullback is certain.
RSI is a momentum indicator that measures whether an asset is overbought or oversold. Values above 70 are considered overbought, and values below 30 are considered oversold.
Although FLOKI’s RSI is currently in overbought territory, it has historically climbed above 80 before correcting, implying that the rally may still have room to run.
Ichimoku Cloud Shows a Bullish Setting For FLOKI
This Ichimoku Cloud chart for FLOKI shows a clear bullish momentum. The price is well above the cloud, indicating a strong uptrend.
The leading span A (green line) is above leading span B (red line), which supports the bullish outlook, while the cloud itself is in a positive configuration.
Additionally, the price is significantly above the Tenkan-sen (blue line) and Kijun-sen (orange line), which further confirms the bullish momentum.
However, a small retracement is visible, suggesting that FLOKI may encounter some consolidation or pullback before deciding on its next move. As long as the price remains above the cloud, the uptrend is likely to stay intact.
FLOKI Price Prediction: A New 57% Price Surge?
FLOKI’s EMA lines are currently showing a very bullish setup, with the price trading above all of them. That rise consolidated FLOKI as the 6th biggest meme coin in the market.
This indicates strong upward momentum. If the rally continues, FLOKI price could potentially reach $0.00031, with further resistance at $0.000349, representing a possible 57% price increase from current levels.
However, if the uptrend loses steam and reverses, FLOKI could face a significant retracement.
Key support levels are found at $0.00016 and as low as $0.00012, which could imply a potential 45% correction.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
Cardano (ADA) price has surged 52% in the last seven days, but has seen a pullback of over 5% in the past 24 hours. Despite the recent rally, there are signs that the current uptrend might be losing momentum.
Indicators such as ADX and whale activity suggest that while ADA remains in a positive trend, its strength is weakening. This points to a critical phase where ADA will either find renewed momentum or face a potential reversal.
ADA Current Trend Is Still Pretty Strong, But It’s Losing Steam
The ADX (Average Directional Index) for ADA currently stands at 45.02, a drop from nearly 70 just two days ago. This decline in ADX indicates a weakening of the trend strength, suggesting that the previous momentum might be losing steam.
While ADA price remains in an uptrend, the decrease in ADX signals that the pace of the upward movement may be slowing down, even though the trend direction itself hasn’t reversed.
The ADX is a technical indicator used to measure the strength of a trend, without specifying its direction. Typically, an ADX above 25 is considered a strong trend, while anything below that suggests a weaker trend.
With ADA’s ADX at 45.02, the trend is still quite strong, but the recent decline from higher levels suggests caution.
Cardano Whales Are Back
The number of addresses holding between 1,000,000 and 10,000,000 ADA remained stable from October through early November but started to grow again on November 8.
Since then, these large wallets have increased from 2,432 to 2,451. This surge in accumulation was followed by a stabilization phase between November 11 and November 13, indicating that the recent buying activity might have reached a plateau.
Tracking these large addresses, often referred to as “whales,” is crucial because their buying or selling behavior can significantly impact ADA price.
The recent surge followed by stabilization suggests that while whales were accumulating ADA, driving a positive sentiment, they have now paused. This could mean that Cardano price may see a period of consolidation before the next significant move.
ADA Price Prediction: Can It Reach $0.80 In November?
ADA’s EMA lines are currently in a bullish setup, with short-term EMAs positioned above the long-term ones, which generally indicates an ongoing uptrend.
However, the price has now fallen below the shortest EMA line. That suggests that the strength of this uptrend might be fading.
If the current uptrend regains strength, ADA price could test resistance levels at $0.62 and $0.67. If these are broken, it may potentially rise to $0.80—a price it hasn’t reached since March and representing a possible 50.9% increase from current levels.
On the other hand, signals from ADX and whale activity hint that the uptrend may be losing steam. If ADA’s bullish momentum fails and the trend reverses, support zones around $0.47 and possibly as low as $0.41 could come into play.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
Ethereum (ETH) price has been on a remarkable rally, gaining 20% over the past week. This rally has been fueled in part by a significant outflow of ETH from exchanges, suggesting growing confidence among holders. Whale accumulation has also picked up, hinting at increasing bullish sentiment.
However, with recent minor corrections, ETH is now at a pivotal point, testing its support and resistance levels to determine its next move.
ETH Net Transfer Volume Reached 128,000 On November 10
ETH has been on a strong rally, climbing 20.10% in the past 7 days. More than 361,000 ETH left exchanges on October 25 – a substantial outflow that pointed towards growing confidence among holders before the current rally.
Such a large movement typically suggests that investors are moving their assets to personal wallets, hinting that they may be planning to hold rather than sell.
When a lot of coins leave exchanges, it’s generally bullish because it indicates users are less likely to sell. Conversely, when large volumes of coins flow into exchanges, it can be bearish, as holders might be preparing to sell.
Since October 25, the net transfer volume to and from exchanges has been fluctuating between positive and negative, reaching 128,000 on November 10. This indicates uncertainty, as the market is experiencing a mix of buying and selling pressure.
Ethereum Whales Are Accumulating Again
After weeks of decline, the number of whales holding at least 1,000 ETH has finally started to rise again. This trend reversal began on November 7, and the number has been climbing consistently day after day—from 5,527 on November 7 to 5,558 on November 12.
The renewed accumulation among whales suggests a shift in sentiment, with large holders showing increasing confidence in ETH price.
Tracking these whale wallets is crucial because their activity can significantly influence market trends. When whales start accumulating, it often signals a potential price increase, as these holders typically move markets.
Their buying can also reduce the available supply on exchanges, creating more upward pressure on the price of Ethereum.
ETH Price Prediction: Is a Rally To $4,000 Possible?
After a strong rally, ETH price has faced a minor correction over the last few days. The EMA lines remain bullish, with short-term lines still above the long-term ones, indicating an overall upward trend.
However, the price has dropped below the shortest EMA line, which suggests that the current uptrend might be losing some momentum.
ETH’s closest resistance level is now around $3,500. If this resistance is broken, ETH price could potentially surge to $3,700—a possible 17.9% rise and its highest level since June.
On the flip side, if the uptrend reverses, ETH price may retest support at $3,000. If that fails, the next level of support would be around $2,800.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
FLOKI Price Action Signals Strong Uptrend Despite Risks
Ethereum’s Rally Loses Steam: Analyst Foresee A Possible Brief Correction
Coinbase CEO Slams DOJ For Alleged Political Polymarket Probe
Cardano (ADA) Price Stabilizes After Recent Whale Activity
Bullish Whale Behavior Fuels Ethereum (ETH) Price 20% Rally
Pro Crypto Matt Gaetz Nominated As Donald Trump’s Attorney General
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Coinbase cbBTC Set to go Live on Solana
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Coinbase cbBTC Set to go Live on Solana
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
-
Market23 hours agoBitcoin briefly hits $90k on Coinbase. Will it surge to $100k soon?
-
Market18 hours agoEthereum Price Hits $3,450 Wall: Can It Power Through?
-
Altcoin18 hours agoBitwise Acquires Ethereum Staking Service Attestant, What’s Next for ETH Price?
-
Ethereum23 hours agoEthereum’s Positive Funding Rates Push Price Near $4K—Are There Any Downsides?
-
Market22 hours agoSolana (SOL) Needs to Hold $200 for Next Rally: Will It Succeed?
-
Altcoin22 hours agoXRP Price Jumps 14% As Long/Short Ratio Rises, $1 Coming Soon?
-
Market21 hours agoLitecoin Launches Wrapped Litecoin (WLTC) on Ethereum
-
Market20 hours agoXRP Price Gains Speed: Could The Surge Reach $0.80?
