Bitcoin attempted to surpass the $69,000 mark but faced resistance, hovering around $69,000. Bulls pushed the price beyond $69,500, but bears intervened near $70,000.
After hitting a high of $69,981, Bitcoin saw a downward correction, slipping below $69,500 and $69,200. It breached the 23.6% Fib retracement level from the recent low of $65,200 to the high of $69,981.
Bitcoin currently trades above $68,000 and the 100-hourly Simple Moving Average (SMA). A bullish trend line, supported at $68,000, is evident on the hourly chart of BTC/USD. This trend line aligns closely with the 50% Fib retracement level, marking a potential support zone.
Immediate resistance is anticipated near $68,850, with a key level at $69,200. Surpassing this could lead to a test of the $69,500 resistance area. Should Bitcoin break above $69,500 convincingly, it might aim for the $70,000 zone, possibly targeting $72,000.
Bitcoin Price Faces Challenge at Resistance Zone; Breakdown Could Spur Pullback
Failure to breach the $68,850 resistance zone might trigger another downward move. Initial support lies at $68,000 and the trend line. A breach could push the price towards major support at $67,000, potentially initiating a pullback towards $65,500. Further losses could test the $64,400 support zone.
A solo Bitcoin miner successfully mined block 883,181 and earned 3.158 BTC, worth about $310,000, despite the tough competition from large mining operations. Experts believe the miner used CKPOOL or a Bitaxe device, highlighting the rare but possible success of solo mining.
JoyA landfill in Wales, believed to contain a hard drive with 8,000 Bitcoin, is slated for closure.
KikyoMichael Saylor's company, Strategy, is preparing for another major Bitcoin purchase, continuing its aggressive accumulation strategy. The firm holds over 471,000 Bitcoin, worth $45 billion, and has raised billions through stock offerings to finance its acquisitions.
WeatherlyMcDonald’s posted a playful message on X, which many crypto enthusiasts saw as a nod to the market downturn, sparking viral reactions. Exchanges like Kraken and OKX, along with figures such as HTX Global, joined in with humorous responses, turning the post into a symbol of potential recovery amid market struggles.
AnaisGemini is considering an IPO in 2025, following regulatory challenges and legal settlements, including a $5 million fine. The company's move to go public comes amid growing interest from other crypto firms, like Bullish Global, in joining the stock market.
WeatherlyA Coinbase executive analysed Bitcoin’s early transactions and found links between Satoshi Nakamoto’s wallets and a Canadian exchange. His research suggests Satoshi’s last on-chain activity was in 2014, and Kraken may hold data revealing their identity.
WeatherlyBitcoin miners are struggling to maintain their monthly production as the mining difficulty-measured by the computational power required to validate BTC transactions and generate new blocks-continues to increase.
XingChiMicroStrategy has rebranded to "Strategy" to reflect its focus on Bitcoin, moving away from its business analytics roots. Despite growing its Bitcoin holdings, the company reported a $670.8 million quarterly loss but remains optimistic about future growth.
JoyThousands of Bitcoin and crypto enthusiasts gathered outside a Mcdonalds restaurant to trade in their satoshis for Big Macs, McFlurrys and coffee? Little did they know they would be the pioneers to make the first Bitcoin payment.
XingChiBybit’s CEO, Ben Zhou, warned that crypto liquidations may be as high as $10 billion, far exceeding the $2 billion reported. He explained that limitations in data sharing caused discrepancies, with actual losses likely much higher than public figures suggest.
AnaisTraders and market analysts are divided over Bitcoin’s next potential macro top, with more optimistic predictions suggesting it could reach $120,000. Can Bitcoin break above the $71,500 mark on a weekly close?
JinseFinanceMay 22 is "Bitcoin Pizza Day," commemorating the historic event in 2010 when 10,000 bitcoins were used to purchase two Papa John's pizzas. From $41 worth of pizza to $700 million in wealth, Bitcoin's price surge over the past 15 years has proven it to be the best-performing financial asset in history.
MiyukiBitcoin's price has been soaring since its launch in 2008. Early investors are now reaping returns in the millions of dollars. Nevertheless, its volatility and regulatory uncertainty remain significant risks for investors.
BerniceA trader turned $900 into $3.47 million in five days by trading Solana's meme token ANALOS, achieving a profit over 3,800 times their initial investment.
AlexMATIC, the native cryptocurrency of Polygon, has recently gained traction, showing a 50% increase in price surge in the last 20 days, amid the optimistic trend circling the cryptocurrency market due to the recently finished Uptober rally.
BitcoinworldAccording to Breedlove, his model places Bitcoin to trade at $12.5 million by 2031, a value equivalent to $1 million based on today’s purchasing power.
FinboldThe top cryptocurrency by market value rose over 5% to $20,350, according to CoinDesk data.
Coindesk
NulltxThe Crema Finance team awarded the hacker who made off with nearly $10 million in funds from the protocol 16.7% of the stolen funds as a white hat bounty.
CointelegraphThe U.S. dollar index could rally further in the coming weeks, which is typically bad news for Bitcoin.
Cointelegraph