Market
What Does This Mean for BTC?

Retail investors are back in full force with Bitcoin (BTC), and this time, their demand surpasses what was seen in May 2020. This surge comes as BTC eyes the elusive $100,000 mark, a price level it has struggled to reach.
But is the return of retail demand enough to push Bitcoin to new heights? This on-chain analysis evaluates the potential impact.
Bitcoin Now Carries Everyone Along
Historically, Bitcoin’s price surged following an increase in retail demand, though whales and institutional investors have typically driven this current cycle.
However, according to CryptoQuant, this trend may be shifting. Data from the 30-day retail investor demand metric reveals a significant change, tracking the flow of volumes under $10,000 into Bitcoin, suggesting a growing influence from retail investors
At press time, the metric reached $27.15, the highest level it has reached in over four years. The last time the reading neared this level, Bitcoin’s price climbed from $9,500 to $37,000 in less than six months.

Therefore, if history rhymes, then BTC could rally to and surpass $100,000 within a few months. However, Darkfost, a pseudonymous analyst on CryptoQuant, opined that the run above $100,000 might not happen very fast.
According to the analyst, the hike in Bitcoin retail investor demand could signal a local top. In his post, Darkfost mentioned that the cryptocurrency could consolidate for a while before the uptrend returns.
“Bitcoin may continue to range for a while, with minor corrections, before making its next move upward to break the 100,000 psychological key. This breakthrough might reignite retail demand, potentially fueling a euphoric phase in the market,” the analyst explained.
Moreover, data from Glassnode shows that Bitcoin’s short-term realized price, which is the average on-chain acquisition value, is $77,675.

Typically, when the realized price is above Bitcoin’s market value, the trend is bearish. However, with BTC trading above $96,000, it suggests that the trend around the coin is bullish, and the price might increase.
BTC Price Prediction: $110,000 Possible in the Short Term
On the weekly chart, Bitcoin has formed a bull flag. A bull flag is a bullish chart pattern characterized by two strong rallies, separated by a brief consolidation phase.
The pattern starts with a sharp, almost vertical price spike, creating the ‘flagpole.’ This is followed by a pullback that forms parallel upper and lower trendlines, creating the ‘flag’ itself, as seen below.
Since BTC has broken out of the pattern, the coin’s price might hit higher values in the short term. If validated, Bitcoin’s price could climb to $100,274 soon. In a highly bullish scenario, it could rally above $110,000.

On the other hand, if the demand for Bitcoin by retail investors drops, this prediction might not happen. In that case, the price might decrease to $90,275.
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.
Market
Bitcoin Price Swings Wildly—Yet Bears Keep the Upper Hand!

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Bitcoin price started a recovery wave above the $85,500 zone. BTC is trimming all gains and might decline again toward the $80,000 zone.
- Bitcoin started a decent recovery wave above the $84,500 zone.
- The price is trading near $83,500 and the 100 hourly Simple moving average.
- There was a break below a connecting bullish trend line with support at $85,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could start another increase if it stays above the $82,200 zone.
Bitcoin Price Dips Sharply
Bitcoin price managed to stay above the $82,500 support zone. BTC formed a base and recently started a decent recovery wave above the $83,500 resistance zone.
The bulls were able to push the price above the $84,500 and $85,500 resistance levels. The price even climbed above the $88,000 resistance. A high was formed at $89,042 and the price started a sharp decline. There was a drop below the $86,000 and $85,000 levels.
There was a break below a connecting bullish trend line with support at $85,000 on the hourly chart of the BTC/USD pair. A low was formed at $82,141 and the price is now consolidating near the 23.6% Fib retracement level of the recent decline from the $89,042 swing high to the $82,141 low.
Bitcoin price is now trading near $83,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $84,000 level. The first key resistance is near the $85,000 level.

The next key resistance could be $85,550 and the 50% Fib retracement level of the recent decline from the $89,042 swing high to the $82,141 low. A close above the $85,550 resistance might send the price further higher. In the stated case, the price could rise and test the $86,800 resistance level. Any more gains might send the price toward the $88,000 level or even $88,500.
More Losses In BTC?
If Bitcoin fails to rise above the $85,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $82,800 level. The first major support is near the $82,200 level.
The next support is now near the $81,350 zone. Any more losses might send the price toward the $80,500 support in the near term. The main support sits at $80,000.
Technical indicators:
Hourly MACD – The MACD is now losing pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – $82,800, followed by $82,200.
Major Resistance Levels – $84,200 and $85,500.
Market
XRP Price Reversal Toward $3.5 In The Works With Short And Long-Term Targets Revealed

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The XRP price is showing signs of a strong bullish reversal, with a crypto analyst predicting a potential rebound toward $3.5 and even higher. After experiencing significant volatility and undergoing a consolidation due to recent price declines, technical indicators now show support for XRP’s bullish outlook. As a result, the analyst has provided a short—and long-term price target for the cryptocurrency.
XRP Price Projected To Reverse To $3.5
According to ‘Setupsfx’, a crypto analyst on TradingView, XRP is now in a bullish reversal phase, meaning its price is expected to break out of its recent downturn and rise to new highs. Based on the expert’s chart analysis of XRP, the cryptocurrency is predicted to see an explosive increase to $3.5 following the end of its consolidation phase.
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The chart indicates that the price of XRP is expected to rise to $3.5 in the coming months. However, from a fundamental analysis perspective, the analyst believes XRP is not limited to this bullish price target and could potentially surpass it to exceed current all-time highs of $3.84.

While the TradingView expert’s analysis of XRP maintains a neutral stance, implying uncertainty in the trend, he has also emphasized the cryptocurrency’s strong potential for growth. Hence, XRP could experience significant upward movement if market conditions align favorably and investor sentiment and confidence strengthen.
For his short-term price target, the crypto analyst forecasts that XRP could rally to a level above $3.5. He advises traders who intend to hold their positions for a short period to aim for this price level, as it could be a strategic exit point before a potential pullback.
Notably, the analyst’s long-term price target for XRP has been set at $4.0 or higher. Considering XRP’s price is currently trading at $2.09, a surge to $4 would represent an almost 100% increase in its price.
Technical Elements Supporting Bullish Reversal
In his chart analysis, Setupsfx highlights XRP’s price action in a 12-hour time frame, showcasing key movements, trends, and technical elements that support his bullish projection. These elements include liquidity and IMB zones, which are areas where price action is expected due to pending orders.
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The analyst also highlights an accumulation phase, as XRP has been consolidating at lower levels, signaling the possibility of a potential breakout. The appearance of strong low wicks further indicates that buyers are regaining control of the market.
Finally, the TradingView analyst has indicated that the altcoin has already undergone a three-point trendline rejection, which means it has tested and rejected a resistance level multiple times. The expert’s price chart also provides an ideal entry point for both short and long-term traders, marked at $1.8. A stop loss has also been placed significantly lower around $1.2 to minimize potential losses.
Featured image from iStock, chart from Tradingview.com
Market
BNB Price Faces More Downside—Can Bulls Step In?

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