BlockNews
FOLLOW ON X
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
Home CRYPTO

Crypto Trades Sideways as Bitcoin Hovers Around $62,000: Bullish or Bearish?

by Sham
May 8, 2024
in CRYPTO
Reading Time: 3 mins read
A A
1
SHARES
21
VIEWS
Share on XShare in TelegramShare on Reddit
  • Bitcoin’s price has remained relatively steady above $62,000.
  • Overall market sentiment appears cautious but optimistic.
  • Bitcoin looks poised to make another move higher but uncertainty persists.

Bitcoin’s price has remained relatively steady above $62,000. This comes as the crypto market sees a period of low volatility.

#Bitcoin will hit _____ first 👇

Current price: $62,600

— BlockNews.com (@blocknewsdotcom) May 8, 2024

Current Bitcoin Price Levels

The price of Bitcoin is currently trading between $62,000 and $63,000. This narrow trading range indicates decreased volatility and uncertainty in the market. Traders seem to be waiting on the sidelines for the next major price move.

Market Sentiment

Overall market sentiment appears cautious but optimistic. There is hope that Bitcoin’s price will break out above $65,000 soon but also concern about increased regulation. Traders are closely watching Bitcoin futures markets for any signs of how institutional investors may be positioning.

Potential Price Drivers

Some potential catalysts that could drive Bitcoin’s price higher include the approval of a Bitcoin ETF, major companies adding Bitcoin to their balance sheets, or positive regulatory developments around crypto. Downside risks include new regulations, black swan events, or miner capitulation.

Bitcoin On-Chain Metrics

On-chain metrics show that Bitcoin continues to be accumulated by long-term holders. The supply held by these holders is increasing steadily. Meanwhile, exchange reserves have declined, indicating coins are being withdrawn to private wallets. This supply dynamic supports the potential for higher prices.

The Road Ahead

Bitcoin looks poised to make another move higher but uncertainty persists. Key levels to watch are the current all-time high around $65,000, the 2021 lows around $30,000, and the $100,000 and $200,000 psychological resistances. As always, Bitcoin is expected to remain highly volatile.

Tags: BitcoinBitcoin ETFcrypto
TweetShareShare
Previous Post

FTX Unveils Bold Plan to Repay Creditors Fully Plus Interest

Next Post

FTX Announces Full Repayment Plan Amidst Recovery Efforts

DON'T MISS THESE! HOT OFF THE PRESS

Toncoin and Telegram: The Sleeping Giant of 2025?
BITCOIN

Toncoin and Telegram: The Sleeping Giant of 2025?

July 1, 2025
Crypto Supply Shock: Bitwise Predicts Bullish Runs for BTC, But Shows Doubt With ETH and SOL
BITCOIN

Crypto Supply Shock: Bitwise Predicts Bullish Runs for BTC, But Shows Doubt With ETH and SOL

July 1, 2025
SEC Plans Shortcut for Crypto ETFs With New Listing Rules
CRYPTO

SEC Plans Shortcut for Crypto ETFs With New Listing Rules

July 1, 2025
Connecticut Bans Bitcoin and Crypto for Government Funds
BITCOIN

Connecticut Bans Bitcoin and Crypto for Government Funds

July 1, 2025
Shiba Inu: Turning $3,000 into $10,000 – The Math Behind the Meme
CRYPTO

Shiba Inu: Turning $3,000 into $10,000 – The Math Behind the Meme

July 1, 2025
FARTCOIN Surges 148%—Is the Meme Just the Beginning?
CRYPTO

FARTCOIN Surges 148%—Is the Meme Just the Beginning?

July 1, 2025
Load More

Related News

Toncoin and Telegram: The Sleeping Giant of 2025?

Toncoin and Telegram: The Sleeping Giant of 2025?

July 1, 2025
Crypto Supply Shock: Bitwise Predicts Bullish Runs for BTC, But Shows Doubt With ETH and SOL

Crypto Supply Shock: Bitwise Predicts Bullish Runs for BTC, But Shows Doubt With ETH and SOL

July 1, 2025
SEC Plans Shortcut for Crypto ETFs With New Listing Rules

SEC Plans Shortcut for Crypto ETFs With New Listing Rules

July 1, 2025
Donald Trump Threatens Elon Musk with DOGE Audit

Donald Trump Threatens Elon Musk with DOGE Audit

July 1, 2025
Jerome Powell Says July May be Too Early for Rate Cuts, But Doesn’t Rule it Out

Jerome Powell Says July May be Too Early for Rate Cuts, But Doesn’t Rule it Out

July 1, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • HOME
  • CRYPTO
  • MEMECOINS
  • TECHNOLOGY
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.