{"id":103885,"date":"2024-07-18T20:45:28","date_gmt":"2024-07-18T16:45:28","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=103885"},"modified":"2024-07-18T20:47:30","modified_gmt":"2024-07-18T16:47:30","slug":"bitcoin-stalls-despite-positive-signs","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/bitcoin-stalls-despite-positive-signs\/07\/18\/market-updates\/","title":{"rendered":"Bitcoin Stalls Despite Positive Signs"},"content":{"rendered":"\n<p>Bitcoin&#8217;s price encountered resistance around $65,000 on Thursday, despite positive on-chain data indicating increased holdings among short-term investors and a slight rise in inflows to US spot Bitcoin ETFs. Analysts see the $65,000 level as a crucial hurdle for bulls to overcome.<br><br><strong>Bitcoin Struggles to Breach $65,000<br><\/strong><br>The price of Bitcoin (BTC) hovered around $63,505 during the Asian trading session and the Wall Street open on July 18th. After reaching $66,000 the previous day, BTC\/USD retreated to test the strength of its recent gains as the price realized by short-term holders (STH) came into play. <\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>This key support level, which was slightly above $64,000 on July 18th, had been lost for the first time in nearly a year. The zone around $64,000 is significant for BTC\/USD, and confirmation of firm support is needed for further upside. Analysts believe Bitcoin is not yet ready for a successful retest of the $65,000 level as new support needs to be established.<br><br><strong>Analysts Eye Bullish Confirmation<br><\/strong><br>A successful retest, similar to a previous instance (not mentioned in detail), is seen as necessary to confirm a breakout back into the $65,000-$71,500 region. Analysts warn of a potential rejection for BTC\/USD if the $65,000 area remains undefeated on daily timeframes.<br><br>The overall market sentiment is looking for a continuation of the bullish trend. Continued buying pressure, at least to complete the first wave of the intermediate uptrend, would provide more confidence in a potential break above the all-time high (ATH) and the completion of a primary uptrend wave.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin&#8217;s price encountered resistance around $65,000 on Thursday, despite positive on-chain data indicating increased holdings among short-term investors and a slight rise in inflows to US spot Bitcoin ETFs. Analysts see the $65,000 level as a crucial hurdle for bulls to overcome.Bitcoin Struggles to Breach $65,000The price of Bitcoin (BTC) hovered around $63,505 during the &hellip;<\/p>\n","protected":false},"author":13,"featured_media":54501,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[40,36],"tags":[6904,8827],"class_list":["post-103885","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-cryptocurrencies","category-market-updates","tag-bitcoin","tag-btc-usd"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/103885","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=103885"}],"version-history":[{"count":4,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/103885\/revisions"}],"predecessor-version":[{"id":103893,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/103885\/revisions\/103893"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/54501"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=103885"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=103885"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=103885"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}