BITCOIN ANALYSTS WEIGH SUB-$17.5K DIP AFTER WEAK BTC PRICE BOUNCE

The cryptocurrency market is known for its volatility, and Bitcoin (BTC) is no exception.Recently, the market has experienced a period of uncertainty, leading to concerns about a potential dip below $17,500.This fear stemmed from a ""weak"" bounce in the BTC price after some downward pressure.While some analysts remain optimistic about Bitcoins long-term prospects, the short-term outlook is clouded with anxiety.The question on everyone's mind is: Is this just a temporary setback, or are we headed for a deeper correction?This article dives into the analysis of leading crypto experts, examining the factors contributing to the recent price fluctuations and exploring potential scenarios for the future of Bitcoin. Bitcoin (BTC) avoided losses as United States equities dived on the July 14 Wall Street open, but traders remained nervous.BTC/USD 1-hour candle chart (BitstWe'll delve into technical indicators, on-chain data, and macroeconomic trends to provide a comprehensive understanding of the current market situation. No way is $17.5k the bottom for Bitcoin, he wagered. Others hoped that higher support levels would hold before any retest of existing multi-month lows. 13.7K is a possibility that we've been watching for 10 months now. Bitcoin will not hit 13.7K unless we lose 19.5K as support. 19.5K is holding really well so far.Buckle up, as we navigate the choppy waters of the Bitcoin market and try to decipher what lies ahead.

Analyzing the Recent Bitcoin Price Action

Bitcoin has recently experienced a period of significant price volatility.Let's break down the key events and factors that have contributed to the current market sentiment.

BTC's Sideways Movement and Investor Nervousness

Despite avoiding losses when United States equities took a dive, Bitcoin has been unable to sustain any meaningful upward momentum. There is amp quot no way amp quot that Bitcoin price performance will not eclipse the recent 17 500 one analyst insists Bitcoin BTC Bitcoin price performance willThis lack of a strong recovery has left many traders feeling nervous, unsure of whether to buy the dip or brace for further declines.The price has been lingering around key psychological levels like $20,000, making it difficult to establish a clear trend. Bitcoin analysts weigh sub-$17.5K dip after 'weak' BTC price bounce By evilchild In Crypto Report Posted J 0 Comment(s) This post was originally published on this siteThis uncertainty is further amplified by external factors such as macroeconomic conditions and regulatory developments.

Specifically, the market observed Bitcoins resilience on July 14 when U.S. equities faltered.This decoupling provided a glimmer of hope, suggesting Bitcoin might be maturing as an asset class less tethered to traditional markets. The most popular and trusted Bitcoin block explorer and crypto transaction search engine.However, the subsequent lack of decisive upward movement has kept investors on edge.

Diverging Analyst Opinions on Bitcoins Bottom

Predicting the bottom of any market is notoriously difficult, and Bitcoin is no different.Analyst opinions are currently divided, with some suggesting the worst is over, while others warn of further downside risk.

""No Way"" $17,500 Was the Bottom, Says One Analyst

One optimistic analyst confidently asserts that there's ""no way"" Bitcoins price performance will not eclipse the recent $17,500 low. Bitcoin analysts weigh sub-$17.5K dip after weak BTC value bounce For more update visit : www.cryptoroz.com Buy Sell CryptoThis suggests a belief that the worst of the bear market is behind us, and that Bitcoin is poised for a significant recovery.However, it's crucial to remember that such pronouncements are based on analysis and interpretation of data, not guaranteed predictions. BTCUSD Bitcoin Bitcoin analysts weigh sub-$17.5K dip after 'weak' BTC price bounce. There is 'no way' that Bitcoin price performance will not eclipse the recent $17,500, one analyst insistsThey are simply an informed opinion.

Potential Retest of Multi-Month Lows

In contrast to the bullish outlook, other analysts are more cautious. Bitcoin price has fallen by 5.56% over the last week, its month performance shows a 7.50% increase, and as for the last year, Bitcoin has increased by 46.89%. See more dynamics on BTC price chart .They suggest that a retest of existing multi-month lows is possible, especially if certain support levels fail to hold. However, the bitcoin price has been languishing under $100,000 per bitcoin through February, raising the risk for some analysts that the bitcoin price might make a major move this week.One specific level to watch is $19,500.The analyst notes that if Bitcoin loses this support, a dip towards $13,700 becomes a real possibility, a level they have been monitoring for almost a year.This highlights the importance of identifying key support and resistance levels in technical analysis.

The Correlation Between Bitcoin and the Global M2 Money Supply

Analyzing Bitcoins price movements in relation to other economic indicators can provide valuable insights. The latest BTC price is $105,659.28. Compared to Bitcoin's value of $104,438.91 from, there's been a 1% increase, while the current price is 1% up from $104,722.85 which was recorded one week ago.One such indicator is the global M2 money supply.

Tracking M2 Growth with a Lag

Analyst Ted has drawn attention to Bitcoins correlation with the global M2 money supply, which represents the total value of a country's currency in circulation, including cash, checking deposits, and easily convertible near money. Graphique en bougies sur 1 heure de la paire BTC/USD (Bitstamp). Source : TradingView Analyste : il est impossible que le bitcoin ait atteint son niveau le plus bas 17 500 $ Les donn es de Cointelegraph Markets Pro et TradingView ont suivi l' volution de la paire BTC/USD, qui s'est maintenue autour de 20 000 dollars.He suggests that Bitcoin tracks the growth in global M2 with a 108-day lag. The last known price of Bitcoin is 103,694. USD and is down -1.16 over the last 24 hours. It is currently trading on active market(s) with $61,955,978,178.38 traded over the last 24This correlation could indicate a potential trend reversal as early as May, according to Ted's analysis.

If Ted’s analysis is accurate, it implies that changes in the global money supply can foreshadow future movements in the Bitcoin price. ️ ️ Bitcoin analysts weigh sub-$17.5K dip after weak BTC price bounce ️ ️ More on:This perspective emphasizes the importance of considering macroeconomic factors when evaluating Bitcoins potential.

Bitcoins Re-Accumulation Range and Halving Impact

Bitcoins halving events, which occur approximately every four years, have historically been associated with significant price appreciation. Bitcoin could liquidate a large block of leveraged shorts with a trip above its yearly open, but BTC price dip expectations are building as traders eye $87,000. 2282 Total views 2 Total sharesAnalyzing the price action around these events can offer clues about the current market phase.

Staying Above the Re-Accumulation Range

Rekt Capital notes that despite recent price fluctuations, Bitcoin remains above its Re-Accumulation Range during the halving week. Bitcoin analysts weigh sub-$17.5K dip after weak BTC price bounceThis observation suggests that Bitcoin is potentially in a period of consolidation before the next major move. Analysts Forecast BTC Reversal In Near-Term. Another analyst, Ted, drew attention to BTC s correlation with the global M2 money supply. According to Ted, Bitcoin is tracking the growth in global M2 with a 108-day lag, suggesting a potential trend reversal as early as May. The analyst further added:Previous analysis from BeInCrypto highlighted Bitcoins repeated testing of price barriers at $71,800 and $63,700 which suggests a potential area of consolidation to build momentum.

Understanding the concept of a ""re-accumulation range"" is important.It signifies a period where investors are accumulating Bitcoin at lower prices, before a potential upward trend.Staying above this range can be seen as a positive sign, indicating that accumulation is still occurring.

Analyzing Bitcoins On-Chain Data

On-chain data provides insights into the actual usage and movement of Bitcoin within the blockchain network. Bitcoin avoided losses as United States equities dived on the July 14 Wall Street open, but traders remained nervous. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst: No way Bitcoin bottomed at $17,500. Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it lingered around $20,000 on the day.This data can be valuable for assessing the overall health and sentiment of the market.

Realized Price Bands as Resistance Levels

According to analyst Moreno, assessing Bitcoins on-chain realized price bands reveals that the price band near $105,000 was a significant resistance level back in March, when Bitcoin briefly reached $74,000. There is no way that Bitcoin price performance will not eclipse the recent $17,500, one analyst insists. Bitcoin (BTC) avoided losses as United States equities dived on the July 14 Wall Street open, but traders remained nervous. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst: No way Bitcoin bottomed at $17,500 Data from Cointelegraph Markets [ ]This suggests that this historical resistance may now influence the coin's future price action.Currently Bitcoin is just over $100,000, which means the cryptocurrency may experience a slight stall soon.

Realized price bands represent the average price at which Bitcoin was last moved on the blockchain.They can act as psychological support and resistance levels, as investors tend to anchor their expectations around these prices. Bitcoin (BTC) traded near $90,000 on Nov. 14 as BTC price action digested yet another all-time high. New Bitcoin all-time high follows US CPI Data from Cointelegraph Markets Pro and TradingViewBy monitoring these bands, analysts can gain a better understanding of potential price targets and areas of congestion.

Potential Scenarios and Price Targets for Bitcoin

Based on the analysis presented, here are some potential scenarios and price targets for Bitcoin in the near to medium term:

• Bullish Scenario: Bitcoin holds above $19,500, breaks through the $20,000 resistance level, and continues to rally towards higher targets. As of now, Bitcoin is hovering just above $87,000, marking a weekly drop of around 7.7% and a 19.6% decline from its all-time high of over $109,000 recorded earlier this year. Amid this downturn, various market analysts have taken to social media to weigh in on the possible causes of the dip and what might come next for the flagship cryptocurrency.Positive macroeconomic news and increased institutional adoption could fuel this scenario.
• Bearish Scenario: Bitcoin loses support at $19,500, triggering a sell-off towards $13,700 or even lower. According to Moreno, an assessment of BTC s on-chain realized price bands revealed that the price band near $105,000 (max band) was a significant resistance level back in March when Bitcoin briefly reached $74,000. This historical resistance may now influence the coin s future price action.Negative regulatory developments or a broader market downturn could contribute to this scenario.
• Neutral Scenario: Bitcoin continues to trade sideways within a defined range, consolidating before a breakout in either direction.This scenario could persist until a clear catalyst emerges.

It's important to remember that these are just potential scenarios, and the actual outcome may vary.The cryptocurrency market is highly dynamic and influenced by a multitude of factors.

Bitcoin and Altcoins: The Broader Cryptocurrency Market

Bitcoins price movements often have a ripple effect on the broader cryptocurrency market, impacting altcoins and other digital assets.

Altcoins React to Bitcoins Volatility

When Bitcoin experiences significant volatility, altcoins tend to amplify those movements.A sharp Bitcoin rally can lead to even larger gains for some altcoins, while a Bitcoin crash can trigger even steeper declines.Therefore, it's crucial to monitor Bitcoins price action closely when trading or investing in altcoins.

Moreover, Bitcoins dominance, which measures its market capitalization relative to the total cryptocurrency market capitalization, plays a significant role.A rise in Bitcoin dominance often suggests a flight to safety, as investors seek the relative stability of Bitcoin during uncertain times. Bitcoin analysts weigh sub-$17.5K dip after 'weak' BTC price bounce There is no way that Bitcoin price performance will not eclipse the recent $17,500, one analyst insists. Total viewsConversely, a decline in Bitcoin dominance can indicate a growing appetite for riskier altcoins.

Practical Advice for Navigating Bitcoins Volatility

Given the inherent volatility of the Bitcoin market, here are some practical tips for navigating the price swings and managing your risk:

1. Do your research: Before investing in Bitcoin, thoroughly research the technology, the market dynamics, and the potential risks involved.
2. Diversify your portfolio: Don't put all your eggs in one basket.Diversify your cryptocurrency holdings across different assets to reduce your overall risk.
3. Use stop-loss orders: Implement stop-loss orders to limit your potential losses in case of a sudden price drop.
4. Stay informed: Keep abreast of the latest news, market trends, and regulatory developments that could impact the Bitcoin price.
5. Don't panic sell: Avoid making impulsive decisions based on short-term price fluctuations.Stick to your long-term investment strategy.
6. Consider dollar-cost averaging: Invest a fixed amount of money at regular intervals, regardless of the current price. The live Bitcoin price today is $104,364.35 USD with a 24-hour trading volume of $50,255,072,425.45 USD. We update our BTC to USD price in real-time.This can help to smooth out your average purchase price over time.
7. Understand leverage: Be cautious when using leverage, as it can amplify both your potential gains and losses.

Frequently Asked Questions About Bitcoin Price Fluctuations

Here are some frequently asked questions about Bitcoin price fluctuations:

Why is Bitcoin so volatile?

Bitcoins volatility stems from several factors, including its relatively small market capitalization, its sensitivity to news and sentiment, and its susceptibility to market manipulation.The cryptocurrency market is also still in its early stages, making it prone to rapid price swings.

What are the main factors that influence the Bitcoin price?

The Bitcoin price is influenced by a wide range of factors, including supply and demand, macroeconomic conditions, regulatory developments, technological advancements, and investor sentiment.News events, social media trends, and on-chain data can also play a significant role.

Is Bitcoin a good investment?

Whether Bitcoin is a good investment depends on your individual circumstances, risk tolerance, and investment goals.Bitcoin has the potential for significant gains, but it also carries significant risks.It's important to carefully consider these risks before investing.

How can I predict the Bitcoin price?

Predicting the Bitcoin price with certainty is impossible. Furthermore, Rekt Capital notes that despite immediate price fluctuations, BTC remains above its Re-Accumulation Range during the halving week. Read more: Bitcoin Halving Countdown. This observation echoes a recent BeInCrypto analysis, highlighting Bitcoin s repeated testing of price barriers at $71,800 and $63,700. While breaking theseHowever, by using technical analysis, fundamental analysis, and on-chain data, you can gain a better understanding of potential price movements and make more informed investment decisions.

What are the potential risks of investing in Bitcoin?

The potential risks of investing in Bitcoin include price volatility, regulatory uncertainty, security risks, and the possibility of losing your investment. Ich kann mir nicht vorstellen, dass 17.500 US-Dollar der Boden f r den Bitcoin-Kurs ist, wie Suppo pessimistisch prognostiziert. Andere hoffen unterdessen, dass die h heren Support-Bereiche zun chst halten k nnen. 13.7K is a possibility that we've been watching for 10 months now. Bitcoin will not hit 13.7K unless we lose 19.5K asIt's crucial to be aware of these risks before investing in Bitcoin.

Conclusion: Navigating the Bitcoin Market with Caution and Knowledge

The recent concerns about a potential sub-$17.5K dip in the Bitcoin price highlight the inherent volatility and uncertainty of the cryptocurrency market.While some analysts remain optimistic about Bitcoins long-term prospects, others warn of further downside risk.By analyzing technical indicators, on-chain data, and macroeconomic trends, investors can gain a more comprehensive understanding of the current market situation and make more informed investment decisions.Remember, the crypto market is dynamic and ever-changing. Leader in cryptocurrency, Bitcoin, Ethereum, XRP, blockchain, DeFi, digital finance and Web 3.0 news with analysis, video and live price updates. BTC $ 104,402.14Do your own research, manage your risk effectively, and stay informed to navigate the market with caution and knowledge.Whether Bitcoin dips below $17.5k or soars to new heights, a well-researched strategy is your best defense.