Bitcoin Forum

According to data from the Coinglass platform, the current open positions in Bitcoin futures contracts have reached $17.582 billion.  CME holds the largest share at $4.769 billion, followed by Binance at $4.151 billion, and Bybit at $3.199 billion.  The substantial open interest across these platforms suggests significant market activity. So will Bitcoin rebound this week?

Think farther than this week, next week.

Bitcoin halving in 2024 is counting down to its activated time in April and today we are in late of January. It is unnecessary to think of price movement this week or next week.

You can think of a farther plan like when you should seriously think of taking profit.

My recommendation is to use Pi Cycle top indicator (https://www.lookintobitcoin.com/charts/pi-cycle-top-indicator/) as one of your indicators to take profit. When the 111DMA crossed down the 350 DMAx2, you will have to exit the market. Maybe it is not an all time high but you will be able to exit and avoid many months of bear market.

There are no signs of recovery, especially since we remained for a long time below $43,000, which is a bearish signal, and supply on exchanges, as shown below, is a factor that drives bitcoin prices to move down value, so we will be at to $41,000 or we may test $38,000.

https://talkimg.com/images/2024/01/22/kAKvW.png

I don't have the data, but I assume the selling pressure is going to come from Grayscale once again. They've unloaded a good amount, and we don't have an idea how much more they need to dump because of their holders dumping GBTC.

I wouldn't short though. Just too much uncertainty.

Well it doesn’t look like a good start to the week. We are currently at like $40700 and looks like Friday’s low might get tested. What we don’t want is the $40K to break and we end up in the $30k areas. It’s scary because we all know that when Monday morning arrives that GBTC will be dumping their coins.

We want to see $40K level hold. It’s strong support. However it’s looking pretty bleak right now since we are so close to breaking this level. We will see how tomorrows NY session goes.

Even if it doesn't this week or even next week
Its still going to create another ATH this year
Just continue your DCA and take any correction as a buying opportunity.
Increase your portfolio now because many are waiting for it to hit $38K or $35K
Once it does, you might not even be fast enough to buy it before you start seeing $50K's.

If you already holding
Just cut ties from the market this period except you accumulating
Let this drama swing pass and enjoy the fruit of your perseverance(Patience).

Even if this week there will be a recovery our target is still quite far away and there is no target other than  trying to buy every week in a position that is still profitable. Because in my opinion whether this week rebound is significant or not depends on the situation and the impact of the news produced by the media. I said last week and next week we will still be in a saturated  position seeing the market move down. Even more aggressive  markets show high selling pressure activity and this lends  itself to our DCA activity.

Are you so eager to make money out of bitcoin investment in a week? If this is the mindset in you I am sorry to say you are not fit to be a bitcoin investor.

A successful bitcoin investor is someone who have his mind set on the long term performance of bitcoin, not the short term.

Erase this from your mind, a long term bitcoin holder is the real winner, we are still in a bear market and things can stay the same for months, if you can't wait for long you should find something else to invest your money.

Moreover, when bitcoin goes down in value it's always a good time to invest some money, now is one of the good time to start your DCA into Bitcoin, it's very likely that Bitcoin will retest the base again, maybe 37k, 35k or 32k, I don't know the exact bottom but start buying bit by bit and hold for a year and half, Bitcoin should make a new all time high at the time.

Forecasting is short-term and within a week is difficult, especially with all the variables, but what is certain is that the probability of seeing levels above 50k seems less than in the past, so the possibility of stability or decline seems more likely, but the market is open to all possibilities.
You will find some technical analyzes that support this trend, but in general it is very difficult to make short-term predictions, so focus on a time range between 3 months to 6 months.

Yes, bitcoin's price will rebound, on one knows when. It is all speculation for one.. The ETFs, Grayscale dumping, large investors or companies taking advantage of selling, driving the price lower, and then accumulating more. Some individuals are likely pleased that Bitcoin has declined, as they've been predicting it for months. However, it's unlikely to stay down for an extended period there is going to be a rebound. It will happen slow, most likely this week or not.  But once the upward trend resumes, it's expected to surge significantly.

Not sure about this week has quite few people have mentioned, But if we extend the range upto 2-3 weeks you could most probably see a significant change in prices. I would also not be surprised if we see the price dipping to close 30's and see a bounce back from there marking it has a beginning of the up-trend.

I do not think much about the forecasts or the forecasters because how often do they even get it right? It is easy for people to look at graphs and make a statement about what will transpire next but I do not have nay faith in them.

It is looking quite bad as far as $40,300 shows. I will not be surprised at all if we are in to c.$39,000 and below within hours but I am not expecting a rebound this week.

When most of these futures are going to expire? I am not yet expecting some rebound but if it's like a week or two of slump already then we may see some recovery.

That's possible.

The possibility of seeing it fall below $40k is there and boys, if you haven't bought much then just look at it as an opportunity.

Bitcoin price can be unpredictable because it can be influenced by many economic factors. And most of these economic factors are also very difficult to predict. I never expected the price of Bitcoin to drop to this extent after the approval of the Spot Bitcoin ETF by the SEC. I was expecting the price to move to at least $50k but the reverse is the case now. I think the price will not recover this week and I also suspect that the price might keep depreciating until after the Bitcoin halving. As I earlier stated the price is unpredictable so a positive global economic outlook might make the price appreciate.

If it's this week then it is hard being optimistic of the market peice behavior for Bitcoin. Charts are bearish and no huge news to uploft the demand and trigger a pullback to $49k or even higher. So if you are one of those who are confused on when to enter, think of a market price that will make you satisfy regardless of the price movement. As we all know, no one has the assurance of when will recovery again take place. At least, if that's your chosen market price, and if you only invested a portion of your overall capital, then nothing will be a problem eitherway the price would go. It is a matter of being preventive; avoiding huge loss than chasing big profit. Its market price could again fall down to $20k if ever demand will decline but if not, $50k and above are possible.Can be? It will always be unpredictable since its market value is dependent solely with demand. Well indeed it is correct that demand is highly affected by several factors. I still believe that its market price is bullish and what we are seeing right now is just a price correction given that its market price had a continuous but huge price uplift. The market may recover in no time but for now wait for clearer signs of recovery and always check in between different time frames in particular with volumes.

The data you have mentioned does tell us that they are future trades but it doesn't tell us which future trades, they might be short or long. What if the short trades are in a higher valuation than the long ones, then your prediction will not be completed. As we don't know people are either bullish or bearish with BTC price in the upcoming week. If you ask me what are my predictions on this, then I will say people are mostly bearish on this.

And I am also expecting more downtrends in the BTC price, this is due to the billions of cash inflow and outflow from BTC which have made it highly volatile than before. Which is just too risky for all of us, and I was reading a news 2 days ago that, ARK has moved there a lot of money from the Future ETF of BTC to their own Spot BTC ETF, knowing as parking the spot technique to save funds for liquidation which also tells us that market might be bullish in upcoming days, or it is already in bearish state because it is around $40k now at the time of writing.

Don't worry about short-term volatility if you are a long-term holder. Change your short-term mindset to a long-term mindset - this will save you more energy instead of being prone to emotions due to price corrections. In the last 24 hours bitcoin has tested the $39,400 support level - there is panic there and concerns are starting to emerge. Don't be afraid - accumulate and set your sights on the long term.

I hope the price will recover soon rather than having to continue testing new support levels - but Grayscale may still influence the price down due to its bitcoin sales. In less than 2 weeks - bitcoin has lost almost $10K in price, that's the impact of the ETF in the short term.

Grayscale is buying around 6000 daily BTC. Price will go up above 50 K soon

nobody knows because Bitcoin what people do concerning it is speculation and the assumption and I believe that this come price does not take any permission from anyone to accelerate to any amount that it want to be or take as a margin line so that is why when you ask me I will know give you a direct detail because I know that bitcoin interchanges even we can say that we are expecting it to be June or July why the expectation might become below or before them that is why I said that I don't believe in to the speculation and the assumption of cryptocurrency especially Bitcoin

Today was another nasty day. I assumed that $40K would hold and that we would get a cleaner candle close. However we dumped below it and the candle we made was very bearish.

There is still hope if $40K holds. I think Ftx is done selling and there should be less sell pressure, hopefully. Problem now is that many are panicking seeing $30sk bitcoin and many will just sell out of fear.

FTX selling is one of the reasons why Bitcoin price has touched below $40k. Not hearing if the selling will continue for a few more days. In general, Bitcoin tends to go through correction before the halving. That is another reason why Bitcoin is going through a major price change. I doubt it would rebound before the halving. I think it will go up to the level of $35k before it rebounds and moves to green.

Nothing to expect big especially that nothing to wait this week and bitcoin still continue to dump maybe it will take some time before we can see some good changes to its price and for now maybe this dump is the one will occur.

But we should not fear on this current event happening to it since even if bitcoin is dumping still there are still great events to look forwards by this year so we can still expect that bitcoin price recover so right now I'm monitoring the market to see if there's possible good things to happen and might think about buying some to add my stocks.
We are now at $39k price level and there's a possibilities that we could able to see more dump in next following days.

This time is bearish for disbelievers and those who are thinking that their funds are losing and always thinking to see their portfolio Green which is not possible all the time well Those who really were looking for new opportunities of rebuying the assets for more accumulation so market is giving them a new fair chance to accumulte more at this low.

well, in my opinion, the market may go lower from present prices DYOR. So my suggestion is that, do some buying right now and save some funds for more lower price for more buying.

The chances of a BTC rebound are limited because of the selling pressure from the GBTC and other Bitcoin whales. This selling pressure from Grayscale might increase in the coming days. Bitcoin Whales dumped their Bitcoin holding, and the inflow to the exchanges suggested the same in the past two weeks. This price action suggests that the dip is coming, and we might go below $35k. Too much uncertainty at the moment, so it is better to wait for some time before making a move.

This week is just a start of the dump so I think we will be having this whole 3rd week and may change the season when the last week of January happens .
I am not against the increase but I don;'t wanna frustrate myself and others expecting a increase but will end dumping instead .
I will take that chance buying , 35 thousand price is the cheapest we can purchase bitcoin now.

Grayscale, likely will have a game plan of buying back the dip. It can't be that shortsighted not to buy back, seeing and knowing that we're about entering the moment everyone is waiting for – the bull season. Those I pity are the panic sellers who're selling off because they find price dipping and may not know why it's so. Some of them might've been hodling since last year but are now afraid to keep hodling. Just like you too, I'm too uninterested shorting it. I don't want to risk it.

I think this correction will end soon as FTX or Grayscale sell off their bitcoin and we will soon recover before the halving. Halving is always a big catalyst and market makers will use it to create Fomo in the market again, just like how they use ETFs news to create Fomo in the market.

The market will not enter a bullish wave anytime soon even if the halving happens, I believe that after the halving we will have bigger corrections than now. But first, I hope this correction will end soon and bitcoin will recover to the 44k-45k$ area.

My candid advice for you is to disregard most of these fundamental data, they will only confuse you. Enough of these were happening before and nothing happened to the market substantially, so why will they cause any rebound now?

What is causing the Bitcoin fall is deeper than this and if it doesn't prove it has found solid support at some strong levels, I do not think that Bitcoin will rebound soon. I will now advise you to be reading your larger time frame charts, let them be your friend because that's where you can only find the truth on what Bitcoin will do now, and not read too many news and headlines that might cause confusion. Even if they would help Bitcoin to rebound, you will still pick it on your trading charts if you know how to read them well.

It is all bearish for the market for now and for Bitcoin to have broken $40,243, it might reach $37,519 so speedily (https://bitcointalk.org/index.php?topic=5482334.msg63530292#msg63530292). Besides, look at the chart, it is extremely bearish, and this is not even the time to think of any bullish attempt. Just be patient my friend, we will first see this bearish effect subsiding before we can have any hope in Bitcoin bullishness for now.

yes, Panic selling!!! I think the resistance level of $38k will be retained by the market this week. Panic selling is continuing with FTX- GBTC which is why it happened so quickly since the 42k BTC level last week. Bitcoin ETF is also part of their motivation to accumulate more, and they seem to take this price seriously,... then I expect a big recovery with a green candle very soon. This scenario will soon end this weekend. Prepare DCA plan and be ready to wait for it

38k is the resistance but doesn't look like the bottom either. Too many analyses and this panic sell is making the price dive deeper. There's got to be on 32k that made those guys say it's the strongest resistance which could also be the bottom.

But seems a good time to DCA.

This week, next week, or upper week I don't see bitcoin rebounding even though it's possible but with the market conditions and the news we might be having more fall in price as the days go by. There will be a rebound though but not so soon, why not take the opportunity to buy more bitcoin to your portfolio ahead of the halving in mid this year and the bullrun by the year 2025. Let your aim be a long time range

Not sure what went wrong today was it just an usual fluctuation or a manipulation done just to buy again at lesser price. This would surely trigger panic selling across the network especially newcomers those who have entered the market post spot Bitcoin ETF approval but I feel it's business as usual and market will few couple of more set back and rebound until bull run. This is the time for accumulating and hence I wouldn't sell and since I am already doing DCA I am least bothered about this drop.

And it just did fell below $40k and now moving on, think of it that there's another possibility that we may see it go below $35k. So, it's like a pattern that we're seeing and every possibility of what I am saying is always there.

Yeah, no need to feat these slumps and dumping of prices because they're common on this market. If you're new and feared of losing the paper value of your portfolio.

Do not move anything on it and just wait unless you're holding tons of shitcoins, you really have to be scared with that type of portfolio.

I'm trying not to be cynical here but aren't you all happy that BTC got cheaper?

Seriously, this is one of the last moments to buy before the halving.
Don't think in days, think in the long term! You know what happens after April..

The allure of quick riches can be intoxicating, but mistaking Bitcoin for a get-rich-quick scheme is a recipe for disappointment.

Bitcoin's journey is a marathon, not a sprint. Those seeking instant gratification are likely to be swept away by the inevitable waves of volatility. True success lies in patience, unwavering belief in the technology's potential, and a commitment to weathering the storms of the market.

The current bear market, while daunting, presents a valuable opportunity for those with a long-term perspective. It's a chance to accumulate at potentially lower prices, build a strong foundation, and ride the inevitable waves of appreciation when the bull market returns.

Will BTC rebound this week?
Flip a coin for yes or no.
It largely depends on the idjits suffering from FOMO that bought into it last week at the highest price it has been at in the past 52 weeks... Whether or not they have enough sense to HOLD their positions remains to be seen.

Most people know that the market is unpredictable, and no one can predict what will happen in the current market as well. Although we are coming and getting closer to the halving events themselves,

But even so, of course, we still have to prepare for it. As I expected Bitcoin to drop at 38k$ something, my analysis did happen a few weeks ago, and last night it dropped 38k$ plus, and now it has bounced a little, which means it may bounce from the day this until next week for sure.

Bitcoin was trading at $40,300 when I mad my first post in this thread. Seeing it fall below $40,000 was not exactly a surprise, it is now £39,800. I think we have all been witnessing what has happened to the value of BTC and to a degree have expected it but it was all very different when people we celebrating ETF announcements.

I do not know why the market has turned away from Bitcoin to the point it has lost almost $8,000 in the space of a few weeks but if investors do not start buying we could be the start of a wider problem where falling prices becomes expected and the norm.

I never think about whether BTC will rebound this week. I'm not at all confused about the current state of Bitcoin. Because Bitcoin is not a currency that can disappear. I would never panic and sell bitcoin when it goes red. I want to say for new investors there is no reason to panic and worry about the current situation of Bitcoin, Bitcoin ETF has entered the approval. However, at any time the full value of BTC may recovered. I think the decline in Bitcoin has created a huge opportunity for investors to accumulate right now. I am prepared to hold for the long term by accumulating more at the moment.

Not sure with bitcoin rebound for this week after crashing yesterday and current highest price of bitcoin above $40,500 before going dump with update price based on this post around $39,700. Seems need more than one week for bitcoin rebound to the higher price but depend are there any bad news again or will possibility upcoming week have many positive news and make bitcoin easily rebound or raise up to the higher price. I don't have large expected with bitcoin rebound and raise to $43k upcoming week is realistic but any possibility for bitcoin will make new highest price for this year without have bad news when trend up of bitcoin.

Likely less impact with ETF bitcoin approval since announced bitcoin price drastically drop and very difficult stable on higher price, I don't sure are there any manipulation behind with ETF approval because bitcoin stuck with lower price after approving.

Don't look at the share OP as it doesn't influence the price movement of Bitcoin but rather understand what the volatility means.
You may be asking rebound this week. The answer is uncertain but surely we have that rebound only the fact that we don't know when it comes. The halving event is on its way, we can be optimistic about its results because that is what we experienced last halving. That is why we don't have anything to worry about the current dump, it won't dump badly like another bearish season. Hold and wait for the market recovery (or just grab some), we never incur losses as long as we never sell any.

There is no conspiracy, it would be difficult for an single entity to manipulate the price as a rule for ETF approval. If there was some form of collusion between whales and/or investors, it might be possible but the way this looks it seems more to do with people rejecting investing after the ETF news was released. Exactly how the price has fallen to where it is (after the announcement many people had been waiting for), is difficult to understand.

For now the issue of rebound is left for the market force to decide, anything more than that is either mere prediction or market speculation which is not healthy for a bitcoiner, people were expecting the price to go up when the news of ETF approval break out but it was a different case, after the approval a week later the price went down for a reason I don't know, but may be some investors has started thinking that Bitcoin might reach the level of being controlled by government which no one can tell for now, but I know for certain that there is something fishy which might unfold itself very soon, we keep watching to see.

That indicate that we can't expect any good reaction for the price of bitcoin if there's certain big news happened to it and that ETF approval but result is not we expect to happen tells that all. So maybe we should not expect any more than that since provably there are just entity trying to hype up the situation and they want be the first to sell bitcoin at the top. We can also add some controversy which contribute its dump so we can't really easily feed up and always look at the current event so we can secure a profit if we want to sell.

For now still monitoring how far it can go since eventhough we experience this I would like to accumulate if I see enough dump occurs in the market.

If we look at the long term, bitcoin has only one trend: always increasing, but what people want is quick profits in the short term, so people only always ask questions and pay attention to its fluctuations in the short term . But unfortunately, no one knows whether bitcoin will increase or decrease tomorrow, let alone next week or next month .

Bitcoin has been on a steady rise for the last 2 or 3 months of 2023, and the bitcoin correction in January 2024 was not too surprising . Many people are very disappointed because they thought the ETFs was some big thing and that it would positively impact the price of bitcoin . But unfortunately things did not go as expected and they began to blame the ETFs for this decline.

I think we shouldn't be in rush for the price of bitcoin to increase, this is an opportunity to accumulate Bitcoin. When the price was increasing some weeks ago some people were worried for the mistake of not investing when the price was lower than what it used to be before. This is a time for people to invest more for the bull market,  the price of bitcoin will definitely increase and I don't see why their should be panic or rush to know when the price of bitcoin to increase,  bitcoin is unpredicted and know one can tell when exactly the price will increase but it will surely increase, no need for pressure.