Join Our Telegram channel to stay up to date on breaking news coverage
The Bitcoin price surged 5% in the last 24 hours to trade at $67,502 as of 00:01 a.m. EST on trading volume that jumped 29% to $30 billion.
This comes as analysis shows that BlackRock’s spot Bitcoin ETF (exchange-traded fund) could surpass Grayscale’s GBTC ETF in terms of Bitcoin holdings in the next three weeks if the current pace of flows remain unchanged.
The BlackRock ETF holds 243,500 BTC as of March 24, worth over $16 billion, with a daily inflow of roughly 4,120 in new BTC. Grayscale, on the other hand, holds an estimated amount of 350,252 BTC worth $23 billion but experiences outflows of roughly 4,140 BTC daily.
BlackRock’s Bitcoin ETF, $IBIT, has been a great success ($16 Billion/243,000 BTC in 11 weeks), but we are still so early 👇 pic.twitter.com/rGTTWMAjF0
— HODL15Capital 🇺🇸 (@HODL15Capital) March 25, 2024
Bitcoin Price Bulls Poised To Sustain The Bullish Stance Above The Ascending Triangle
The Bitcoin price has been on a tear in recent weeks, reaching all-time highs of $73,737.
The recent price movements, trading within the $60,500 and $71,134 ranges, resemble a bullish ascending triangle pattern, suggesting potential for a further price increase by the bulls, over the upper boundary of the pattern.
BTC is trading above both the 50-day and 200-day Simple Moving Averages (SMAs), affirming the collective bullish sentiment of the price.
Moreover, the Relative Strength Index (RSI) is rebounding from the 50-midline level, currently at 65, which shows intense buying pressure. If the bulls continue to surge the price, the RSI could surpass the 70-overbought region, showing rising investor optimism.
The Moving Average Convergence Divergence (MACD) is also bullish, as the moving average line (blue) crosses above the signal line (orange), which represents a bullish crossover. A bullish crossover is an indication for the bulls to add to their buys, as the price may continue soaring.
Additionally, the green bars on the histogram form over the neutral line, which shows that BTC is currently on bullish momentum. The Stochastic Oscillator 14 3 3 line (green) crosses above the trigger line (orange) and trades above the oversold levels at 99, showing a bullish moving average crossover.
Bitcoin Price Prediction
The Bitcoin price analysis shows a bullish bias, as the bulls aim to surpass the upper boundary of the ascending triangle, with the aim being $80,000. Both the Stochastic Oscillator and the MACD offer optimistic investors a bullish prospect for the price.
However, both the Stochastic Oscillator and the RSI show that the asset is overbought, which could prompt a price correction. In this scenario, the bears could take control of the price, driving it through a retrace, with $63,000 acting as the immediate support zone.
As the BTC price soars, investors can consider diversifying their holdings via Green Bitcoin, a BTC alternative that analysts say has the potential to soar 10X after launch.
Green Bitcoin Blasts Past $8.7 Million – Last Chance To Buy Before Presale Ends
The Green Bitcoin (GBTC) presale is nearing its end, having already amassed over $8.7 million as it races towards the $9 million mark. Green Bitcoin is an eco-friendly alternative to Bitcoin that is focused on environmental sustainability.
With Decentralized and Centralized exchange listings not far away, the momentum Green Bitcoin is generating is getting intense.
We love the movement! pic.twitter.com/QeOhyUA35f
— GreenBitcoin (@GreenBTCtoken) March 23, 2024
The project merges Bitcoin’s traditional attributes with the eco-conscious features of the Ethereum network.
Introducing Green Bitcoin: A Revolutionary Predict-To-Earn Token.
Join us on our Gamified Green Staking Platform, where your predictions can turn into profits!
Website: https://t.co/dG5cEeCtRs
Telegram: https://t.co/bWanoe0vHv pic.twitter.com/eXuGQBkxio— GreenBitcoin (@GreenBTCtoken) December 3, 2023
Green Bitcoin introduces the Gamified Green Staking system, allowing users to stake the native GBTC tokens while earning rewards for accurately predicting the Bitcoin price.
Buy And Stake $GBTC, Earn Rewards
You can also stake $GBTC, which earns an impressive 77% annual percentage yield (APY). Investors on the platform have already staked over 7.5 million tokens.
According to Jacob Bury, a popular crypto analyst and YouTuber, Green Bitcoin has the potential to surge 10X after launch.
To take part in the presale, you can invest now for just $1.1062 before the presale ends.
You can purchase $GBTC tokens on the official Green Bitcoin website, where you can exchange ETH or USDT for $GBTC, or buy them directly with your bank card.
Related News
Green Bitcoin – Gamified Green Staking
- Contract Audited by Coinsult
- Early Access Presale Live Now – greenbitcoin.xyz
- Predict To Earn – Featured In Cointelegraph
- Staking Rewards & Token Bonuses
- $7+ Million Raised – Ends Soon
Join Our Telegram channel to stay up to date on breaking news coverage
