Bitcoin breaks 2021 ATH and hits $71k!

[_BlackStar]

-snip-

Oops, it had to stop the bull trend and go for a retracement. We are now trading below the $64K price for some days now. I don’t know but it was unusual for bitcoin to reach a new all-time high before the halving took place because it has never happened like that in the past. I think big whales were moving it and also the bitcoin ETF approval could have had effect on it. But despite the whales manipulation on the market, they couldn’t take it further up high and it had to result back back to its normal consensual behavior. Now the market is on a correction, we might be trading below the $69K level till the halving before we witness the real bull run as it used to be.

There are many reasons why the price fell after hitting $73K - one that is being discussed is because of The FED's interest rate adjustment. I wasn't aware of that - but that issue is one of the reasons why prices are down. While the market is interconnected between the stock market and also the crypto market - so the impact is likely to be the same.

Right now I'm inclined to say that the market is sideways while trying to test new resistance. The $60 support is strong enough and even $63K seems reliable - but downside risks remain to be considered. No problem - maybe the market is providing an opportunity for anyone to accumulate before flying high after the halving.

[philipma1957]

Yes the flows are starting to get stale. Blackrock had days where it added almost $1B and lately the flows are low. So low that each day this week we had negative outflows.

Hate to say it but $74K might of been the top this cycle. Unless we chop around until the halving and start to break the new ATH sometime this Summer.

The last weeks candle close was awful. And that’s why the sell off started.

that would be rough. miners will get crucified if we slowly sang back to 55k in time for the ½ ing.

[Majestic-milf]

 I guess we won't have to be upset over Bitcoin price dilly dallying in the $60k area and not entering new highs before we get to April because since yesterday, it's price has been going up and entered the $70k region once again and as at time of writing, price is $70, 372.91 and I won't attribute it's rise to just investors picking up interest alone but I feel it's cause the halving is getting close. We will be seeing more price increase in this coming days and I believe we will get past the $74k mark as well.
 It's normal for people to become negative when it's price is unimpressive and speculations and predictions will come up but that's just Bitcoin being volatile. The same way it drops so low that investors begin to panic is the same way it can quickly rise up and I'm all for it going higher in this remaining days.

[dezoel]

First time that we have seen reaching new All time high pre-halving, is it a bad sign? I don't think so, and we all know what's the reason is, Bitcoin Spot ETF and then those who doesn't missed it, in short FOMO. We have now undergoing a majority correction, at least -1000$ has been slashed after reaching $73,000.

However, the most important catalyst for a bull run in 2024-25 is not yet happening, - the halving.

So there is this speculation that we will have a big rally, culminating on reaching 6 digits, again it will be a first so this is huge for us and it just shows that Bitcoin as this time is too big to fall.

After pandemic, the usual cycle of bitcoin market got disturbed which maybe the reason we are going to have this halving with a new ATH. And how can this be bad when the main reason why we are here is to profit. Maybe you will say that there will be a major dip that can happen later on, well that was not new either and it was called a correction if not bear market. I don't think those who FOMO don't mind it. They do but they only believe that more increase are going to be recorded.

If there is truly one who don't mind it, then they can be those people who do a DCA. BTC is too big but it already fall although it won't fail just like that. It already run a long time and during those times, the support of people have also became stronger and won't easily disappear.

[2Pizza410000BTC]

Well, just as the title reads, it seems we'll be in for more exciting developments regarding the price of Bitcoin. Just this morning when I checked it's price, I saw $68,468 and now it's just shot up to $71,680.57! A new ATH! Well I'm sure this is just the beginning of more interesting things but I hope this trend continues. Is it the bull run that caused it's price to shoot up or is there a big whale buying?

https://coinmarketcap.com/community/articles/65eed16bd332502ef6d4a31b/

What I think is that this bull season is created because of the increased trading in the market, there are probably big whales, small he and small investors. Sometimes the market is dumped by someone selling a lot of bitcoins and sometimes the market is pumped by someone or an organization buying bitcoins, so whatever the big whales and small whales say is because of their transactions. A bull season is created in the market. But we can see more bull season than what we are seeing now after Bitcoin halving. So keep your investment and never worry about your investment.

[Claymore2]

As Bitcoin smashes its previous record highs even before the halving, it's a time of excitement for many. But let's not get too carried away. With the market becoming more unpredictable, we need to tread carefully. Some big players, like investment funds and ETFs, seem to be buying up Bitcoin aggressively, possibly to create scarcity and drive prices skyward. While this may seem like a good thing, there's a chance it's all part of a larger game they're playing. We need to keep our eyes open and not be blinded by the euphoria, as the market might have some surprises in store.

[Kemarit]

As Bitcoin smashes its previous record highs even before the halving, it's a time of excitement for many. But let's not get too carried away. With the market becoming more unpredictable, we need to tread carefully. Some big players, like investment funds and ETFs, seem to be buying up Bitcoin aggressively, possibly to create scarcity and drive prices skyward. While this may seem like a good thing, there's a chance it's all part of a larger game they're playing. We need to keep our eyes open and not be blinded by the euphoria, as the market might have some surprises in store.

What do you think will be the larger game that they are playing? I mean the rules have changed since 2017, and that's where the time that we have seen that and so we obviously have adjusted already, we've seen what institutional money can do to that market.

But this is different, we have reach new all time high prior the halving and I think everyone is prepared already. If you are thinking of a dump, the price went to $62,000 and for me this is the lowest price already pre-halving, in my opinion. So the best thing to do is just keep on accumulating and look for the long term prospect of the market which is the bull run till next year.

[kawetsriyanto]

What I think is that this bull season is created because of the increased trading in the market, there are probably big whales, small he and small investors. Sometimes the market is dumped by someone selling a lot of bitcoins and sometimes the market is pumped by someone or an organization buying bitcoins, so whatever the big whales and small whales say is because of their transactions. A bull season is created in the market. But we can see more bull season than what we are seeing now after Bitcoin halving. So keep your investment and never worry about your investment.

It is about the cycle. You must understand 4 years cycle of bearish-bullish.
Sure, the increase of trading volume in the market is caused by all the investors, both small and big investors. Whales are part of big investors, no doubt they have the power to manipulate market. However, they can't manipulate market for the whole season. If we have bullrun season now, it is not caused by the whales only but it is related to the supply-demand factor.

The hype and Bitcoin halving are also 2 factors that trigger the green market during the bullrun season. As long as we have these factors, we shouldn't be worried about the prices of crypto coins during the bullrun season, specifically for Bitcoin price. However, we must be careful because we don't know when the peak is. We also don't know when the exact time for the bullrun season ends.

[goaldigger]

As Bitcoin smashes its previous record highs even before the halving, it's a time of excitement for many. But let's not get too carried away. With the market becoming more unpredictable, we need to tread carefully. Some big players, like investment funds and ETFs, seem to be buying up Bitcoin aggressively, possibly to create scarcity and drive prices skyward. While this may seem like a good thing, there's a chance it's all part of a larger game they're playing. We need to keep our eyes open and not be blinded by the euphoria, as the market might have some surprises in store.

Exactly, don't be too greedy dealing with the market right now because it's unpredictable after all and anything can happen.
We are now back at $70k mark but that doesn't mean a continuous up trend because we might still see volatility and price manipulation.

Right now, what you can do is to observe and do your own research first before making any action, dealing with Bitcoin right now is very risk because of its expensive price, not unless you're playing long, then considering its price right now, it is still a good one.

[Marvell1]

As Bitcoin smashes its previous record highs even before the halving, it's a time of excitement for many. But let's not get too carried away. With the market becoming more unpredictable, we need to tread carefully. Some big players, like investment funds and ETFs, seem to be buying up Bitcoin aggressively, possibly to create scarcity and drive prices skyward. While this may seem like a good thing, there's a chance it's all part of a larger game they're playing. We need to keep our eyes open and not be blinded by the euphoria, as the market might have some surprises in store.

Exactly, don't be too greedy dealing with the market right now because it's unpredictable after all and anything can happen.
We are now back at $70k mark but that doesn't mean a continuous up trend because we might still see volatility and price manipulation.

Right now, what you can do is to observe and do your own research first before making any action, dealing with Bitcoin right now is very risk because of its expensive price, not unless you're playing long, then considering its price right now, it is still a good one.

Bitcoin has suddenly increased in people's doubts, and if people continue to be skeptical and scared when they see bitcoin rising so fast then bitcoin will continue to do so. I think the most difficult days are over, we will no longer see bitcoin plummet to $40k or $30k like in 2022. So I think there is nothing to fear at this point and we need to be a little greedy to be able to achieve greater profits.

The market has never been easier to predict, not just now, but if we can endure the bear season then why be afraid during the bull season if there is a bitcoin correction, it will also recover very quickly?

[mirakal]

As Bitcoin smashes its previous record highs even before the halving, it's a time of excitement for many. But let's not get too carried away. With the market becoming more unpredictable, we need to tread carefully. Some big players, like investment funds and ETFs, seem to be buying up Bitcoin aggressively, possibly to create scarcity and drive prices skyward. While this may seem like a good thing, there's a chance it's all part of a larger game they're playing. We need to keep our eyes open and not be blinded by the euphoria, as the market might have some surprises in store.

Exactly, don't be too greedy dealing with the market right now because it's unpredictable after all and anything can happen.
We are now back at $70k mark but that doesn't mean a continuous up trend because we might still see volatility and price manipulation.

Right now, what you can do is to observe and do your own research first before making any action, dealing with Bitcoin right now is very risk because of its expensive price, not unless you're playing long, then considering its price right now, it is still a good one.

Bitcoin is currently priced at $69k again and it could even drop a little or increase again, no one’s can assure where it’s actually heading. But one thing is certain, bitcoin price will always surprise us with its new ATH in its perfect time. For now, just manage its usual price fluctuations as we can’t actually stop bitcoin from being volatile.

However, despite of its high volatility, I am still optimistic to see its price consistently surging high just before halving. And since we are almost near for bitcoin halving, the price movement of bitcoin makes us more thrilled and excited. I guess everyone is.

[beerlover]

Bitcoin is currently priced at $69k again and it could even drop a little or increase again, no one’s can assure where it’s actually heading. But one thing is certain, bitcoin price will always surprise us with its new ATH in its perfect time. For now, just manage its usual price fluctuations as we can’t actually stop bitcoin from being volatile.

However, despite of its high volatility, I am still optimistic to see its price consistently surging high just before halving. And since we are almost near for bitcoin halving, the price movement of bitcoin makes us more thrilled and excited. I guess everyone is.

I would guess that smaller movements do not really matter that much to people in the market, sure its a movement and I understand that some small time traders do make money from it but for us it doesn't really mean anything.

For most people we wait for the bigger movements and usually end up with something much better with time as well. I know that it is going to take some time but we are going to end up with something that could be only profitable or at least cared when there is a 10%+ change for the day. Looking at the price, that would mean either 63k or 77k, and we all know that won't happen these days, but if it does somehow happen then we are going to see the whole market react, and not just the day traders.

[Kelward]

It's not much of a surprise to some Bitcoin enthusiasts that it's price hits a new ATH before the halving, something that has not happened before, and the reason is quite obvious, the ETF approval .Before the Bitcoin ETF approval many analysts were predicting massive price surge if it was approved, and when it finally happened, that was what spiked the price and it eventually surpassed the previous ATH before the coming halving that'll happen in a couple of weeks time. I'm still very optimistic that we'll see a new ATH in the peak of bull run that'll reach $200k, something next year.

[STT]

Despite breaking the ATH and achieving higher, I thought this might be a breakout it didnt confirm this and its fallen then threatened to develop negatively.     So far today we have seen April start with a negative despite multiple attempts to recover the loss we have stayed below the 12hr average.

Right now BTC price action is trying to end the day positively and recover above the old ATH price.   I think eventually we resolve back to somewhere like the 50 day average but since that is rising we could find time is the resolution not price movement downwards.

[pawel7777]

The recent flash crash is said to has happened during Asian trading hours and some say it could be due to strengthening of the US dollar. The more expensive the dollar, the more expensive the Bitcoin (which is primarily denominated and traded in the USD), making it too expensive for potential buyers.
Dollar going up also means some investors might want to jump from from BTC to USD as they can have quick gains in much safer investment.

[adaseb]

Pretty nasty rejection when we retested the $70,000 psychological number. The flows for yesterday weren't that great, they were about -$100M or so. The issue is mostly GBTC which is selling $300-$500M a day. Until these flows stop, the numbers will be ugly.

We also got a bad weekly close, the week prior but last week the close was above the previous ATH, which is considered bullish. But it was this nasty flash crash which sent us tumbling down very quick to the $65K area. Lets hope that we bottomed and we will chop around until the halving, then we might retest the ATH and go from there.

[Majestic-milf]

The recent flash crash is said to has happened during Asian trading hours and some say it could be due to strengthening of the US dollar. The more expensive the dollar, the more expensive the Bitcoin (which is primarily denominated and traded in the USD), making it too expensive for potential buyers.
Dollar going up also means some investors might want to jump from from BTC to USD as they can have quick gains in much safer investment.

You are right. Investors only look for profit and right now Bitcoin doesn't seem to be cutting it. It was gathered that Bitcoin is suffering a dip as a result of a strong US factory data which set the dollar at 105.00. this gives the dollar a major push over other globally accepted currencies like the British pound, the Japanese yen and others.
 Bitcoin price is down but I just feel it's something that should be expected considering how prices are known to blow off the top especially as we getting close to the halving period.

[STT]

Disappointment here for me personally as we broke the old ATH but then have failed to keep above 71k.   It closed the daily bar there but has lapsed below today which means yet again a repeat not a rise.

On the bright side we are not falling we are just repeating a very high range of prices relative to where BTC was 6 months or earlier this year even, we gained alot then are halted in this area like its a red light traffic jam perhaps.   Its not slipping back so stay positive in the aspirations is quite fair in a medium term view way.


BTC is just above the weekly average, 68k or above is good.  It can still recover upwards just the pace is slow.   65k for 50 day average, if we lose that somehow then do become more negative in expectations.

All prices should be confirmed on 4hr  1 day and weekly bars at least to be confirmed as valid price action, volatility can move the needle briefly either way but its the hold and close of a bar which solidifies prices as valid like cement; time is a main ingredient.

[Majestic-milf]

 I'd say getting used to this back and forth in price will help limit the expectations we have for this year's halving. Bitcoin has been in the $63-68k for the better part of last week but we are seeing improvement this week as at time of writing,it's at $70,904.00, not like we haven't seen this before but with the fact that there hasn't been any big whale actions recently, figures like this are small victories to be celebrated.
 Since we are very close to the halving period, I think we'd be seeing less of $60-69k, but more of progressive numbers so it's just a matter of time and patience.

[blckhawk]

I'd say getting used to this back and forth in price will help limit the expectations we have for this year's halving. Bitcoin has been in the $63-68k for the better part of last week but we are seeing improvement this week as at time of writing,it's at $70,904.00, not like we haven't seen this before but with the fact that there hasn't been any big whale actions recently, figures like this are small victories to be celebrated.
 Since we are very close to the halving period, I think we'd be seeing less of $60-69k, but more of progressive numbers so it's just a matter of time and patience.

What I just like to believe in this situation is that there's a possibility that these whales are still accumulating as much bitcoin as they can because they want to do something bigger than just doing their typical bitcoin dumps and such, at least that's what I believe in all of this. What I believe we can do though is to just wait for it, don't overdo the spending on bitcoin and other stuff so you can still buy when bitcoin suddenly dumps and don't overdo the selling of your bitcoins even if they're just a little, you might miss out on the potential amount of profit that you could've gotten if only you've waited a little bit longer. I don't expect bitcoin to suddenly go up or down when the halving starts, maybe in a week or two weeks after the halving we might be able to see something happen.