{"id":25112,"date":"2024-07-15T10:47:55","date_gmt":"2024-07-15T07:47:55","guid":{"rendered":"https:\/\/coinengineer.io\/?p=25112"},"modified":"2024-07-15T10:47:55","modified_gmt":"2024-07-15T07:47:55","slug":"bitcoin-bulls-ride-the-trump-wave-price-eyes-70000-levels","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bitcoin-bulls-ride-the-trump-wave-price-eyes-70000-levels\/","title":{"rendered":"Bitcoin Bulls Ride The Trump-Wave; Price Eyes $70,000 Levels"},"content":{"rendered":"

Amid concerns about Germany\u2019s Bitcoin sales, potential selling from Mt. Gox creditors, and miners selling their holdings, institutional investors have shown strong buying interest by reportedly adding 100,000 Bitcoins in a single week. Analyst Crypto Rus believes the market’s current fear may be exaggerated.<\/p>\n

Crypto Rus highlights that the German government has already sold a significant amount of Bitcoin, yet the market has found a bottom and is recovering. He notes that Mt. Gox redistributing Bitcoin has not led to substantial selling pressure. The Fear and Greed Index, indicating market sentiment, shows fear levels comparable to January 2023, which seems irrational given Bitcoin’s current higher value compared to its $16,000 price back then.<\/p>\n

Josh from Crypto<\/a> World provides a detailed analysis of Bitcoin’s price levels and potential targets. He believes Bitcoin has surged, eliminating numerous short positions, and now faces critical short-term resistance. The recent situation involving Trump, a pro-Bitcoin candidate, has positively influenced Bitcoin\u2019s price. A potential Trump presidency is seen as bullish for Bitcoin due to his supportive stance.<\/p>\n

Current Resistance:<\/strong> Between $60,000 to $63,000.
\nSupport Levels:<\/strong> Around $56,000 to $57,000 and $51,000 to $53,000.<\/p>\n

Josh anticipates a brief bullish relief or sideways action. A confirmed breakout above $60,000 to $62,000 could signal a return to a bullish trend. A breakout above $63,000 to $64,000 would further confirm this upward movement.<\/p>\n

Bitcoin has cleared liquidity at $59.8k to $60,000 and might target liquidity above $60.4k to $60.8k before any significant pullback.<\/p>\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0Telegram,\u00a0<\/strong><\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0news<\/a>\u00a0and updates.<\/em><\/p>\n

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Amid concerns about Germany\u2019s Bitcoin sales, potential selling from Mt. Gox creditors, and miners selling their holdings, institutional investors have shown strong buying interest by reportedly adding 100,000 Bitcoins in a single week. Analyst Crypto Rus believes the market’s current fear may be exaggerated. Crypto Rus highlights that the German government has already sold a<\/p>\n","protected":false},"author":1,"featured_media":25053,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[61,393,566],"class_list":["post-25112","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-bitcoin","tag-crypto","tag-mt-gox"],"yoast_head":"\nBitcoin Bulls Ride The Trump-Wave; Price Eyes $70,000 Levels - Coin Engineer<\/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:\/\/coinengineer.net\/blog\/bitcoin-bulls-ride-the-trump-wave-price-eyes-70000-levels\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Bulls Ride The Trump-Wave; Price Eyes $70,000 Levels - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Amid concerns about Germany\u2019s Bitcoin sales, potential selling from Mt. 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