Institutional Investors Remain Bullish on Bitcoin Outlook
- Bitcoin Valuation Insights: According to Coinbase's report, 71% of institutional investors view Bitcoin as undervalued at its current price of $87,600, despite a 30% decline since October, indicating strong confidence in its long-term potential.
- Limited Market Reaction: The survey reveals that 80% of institutional investors are ready to maintain or increase their holdings if the market declines further, reflecting sustained trust in Bitcoin despite its drop from a record high of $126,080.
- Future Rate Policy Impact: Anticipated Federal Reserve rate cuts could enhance market interest in cryptocurrencies, as noted by Coinbase, potentially improving investor sentiment towards digital assets and further supporting Bitcoin's market performance.
- Surge in Trading Volume: Bitcoin's 24-hour trading volume surged by 196.49% to $45.33 billion, and while the price has declined by 22.97% over the past 90 days, the short-term trading activity indicates market volatility and investor engagement.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 36142.556 | 48071.278 | 60412.576 | 72341.298 | 84682.596 | 96611.318 | 108952.616 |
| Fibonacci | 48071.278 | 57342.426 | 63070.15 | 72341.298 | 81612.446 | 87340.17 | 96611.318 |
About BTC
About the author
