๐ต #Can BTC Break $110K?#
Bitcoin recently broke above $107,000 and is currently trading around $105,000, just shy of its all-time high at $109,580. Do you think Bitcoin can set a new record and push past $110,000? Share your analysis and predictions with us!
๐ต #AI Token Market Cap Rebounds#
According to CoinGecko, the total market cap of the AI agent sector has rebounded to $6.862 billion, with a 1.2% increase in the past 24 hours. Notably, VIRTUAL surged 18.5%, and AI16Z rose 7.1%. Which AI tokens are you bullish on? How are you planning your portfolio strategy? Letโs hear your thoughts!
Bitcoin Likely Never Falling Below $47,000. Here's Why
As noted by Blockstream CEO Adam Back, Bitcoin's 200-week moving average (WMA) has now moved above $47,000.
It took the cryptocurrency less than a month to add another $1,000 after passing $46,000
This essentially means that the cryptocurrency is now extremely unlikely to actually drop below the aforementioned level in the future
The 200 WMA smoothes out volatility to such a degree that only long-term price trends remain noticeable on the chart. It is generally being treated as the ultimate floor level for the leading cryptocurrency
The fact that this iron-clad support has now reached $47,000 does not necessarily mean that Bitcoin will never dip below this level. For instance, the cryptocurrency did dip below its 200 WMA during the infamous March 2020 crash. However, such drops were very short-lived
Investor psychology is also a major factor to consider, given that the 200 WMA support attracts immense buying interest during severe downturns.
Earlier today, Bitcoin reached an intraday high of $104,002, according to CoinGecko data. The cryptocurrency is up 22% over the past 30 days amid a new wave of institutional interest