search
Homeweb3.0Bitcoin (BTC) Price Prediction: Will the Bulls Regain Control as the Market Sentiment Remains Bullish?

After defying expectations in September, Bitcoin [BTC] has had a difficult start in October, a month that's usually associated with an upswing.

Bitcoin (BTC) Price Prediction: Will the Bulls Regain Control as the Market Sentiment Remains Bullish?

After a surprising September, Bitcoin [BTC] encountered a rocky start in October, a month typically known for an upswing. Hence, over the last week, BTC experienced a sharp decline.

At the time of writing, Bitcoin was trading at $61,980, registering a 5.41% decrease on the weekly chart. The bearish trend further extended by 0.34% on the daily chart.

Prior to this decline, BTC had been on an upward trajectory, rising by 9.87% on the monthly chart.

Now, this decline from BTC’s recent highs sparked questions on whether the coin will continue an uptrend, especially after a recent downtrend.

In light of this, renowned crypto analyst Rekt Capital suggested a potential rally, highlighting a 21-week bull market EMA.

What market sentiment reveals

In his analysis, RektCapital stated that 21-week EMA has been retested as support successfully.

As BTC holds above this level, it confirms that the market sentiment remains bullish, indicating that buyers are entering the market and price action is favoring the upside.

According to this analysis, BTC has broken above a downtrend line that acted as resistance for months. Such a move is a bullish signal, suggesting the conclusion of the downtrend and a potential shift in momentum.

Hence, a strong close above the 21-week EMA and a confirmed breakout from the multi-month downtrend would signal further upward momentum, especially after a bullish weekly close above $62-$63k.

What Bitcoin’s charts have to say

The analysis provided by RektCapital certainly painted a promising picture for BTC, so it was crucial to assess what other market indicators were suggesting.

The first indicator to consider is Bitcoin’s MVRV Long/Short Diff, which shifted from a downtrend to an uptrend.

After declining in the days prior, the MVRV Long/Short Diff began to rise on the 4th of September.

This suggests that long-term holders are becoming more confident in their positions and less likely to sell, as they are already in profit. As the difference rises, it indicates that long-term holders believe in the upside.

Next, the Fund flow ratio has been declining for the past six days, despite market downturns. This suggests that investors are depositing less BTC into exchanges to sell, opting instead to store it in private wallets.

Such market behavior is indicative of accumulation, as investors anticipate further gains.

Finally, Bitcoin’s Funding Rate Aggregated by Exchange remained largely positive throughout the week, suggesting that investors are taking long positions in anticipation of future price gains.

Read Bitcoin’s [BTC] Price Prediction 2024-2025

In essence, BTC has been trading sideways over the last few days, with investors ramping up accumulation while others take long positions. Such a move suggests that the market is positioning itself well for further gains.

If market sentiment holds, BTC will attempt to test the $62,785 resistance in the near term.

The above is the detailed content of Bitcoin (BTC) Price Prediction: Will the Bulls Regain Control as the Market Sentiment Remains Bullish?. For more information, please follow other related articles on the PHP Chinese website!

Statement
The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn
Ouyi Ouyi Ouyi Ouix Ouyi Global Station Login Home PageOuyi Ouyi Ouyi Ouix Ouyi Global Station Login Home PageApr 21, 2025 pm 11:57 PM

Ouyi OKX is the world's leading digital asset trading platform. 1) Its development history includes: it will be launched in 2017, the Chinese name "Ouyi" will be launched in 2021, and it will be renamed Ouyi OKX in 2022. 2) Core services include: trading services (coin, leverage, contracts, DEX, fiat currency trading) and financial services (Yubibao, DeFi mining, lending). 3) The platform's special functions include: market data services and risk control system. 4) Core advantages include: technical strength, security system, service support and market coverage.

Recommend several apps to buy mainstream coins in 2025 latest releaseRecommend several apps to buy mainstream coins in 2025 latest releaseApr 21, 2025 pm 11:54 PM

APP software that can purchase mainstream coins includes: 1. Binance, the world's leading, large transaction volume and fast speed; 2. OKX, innovative products, low fees, high security; 3. Gate.io, a variety of assets and trading options, focusing on security; 4. Huobi (HTX), low fees, good user experience; 5. Coinbase, suitable for novices, high security; 6. Kraken, safe and compliant, providing a variety of services; 7. KuCoin, low fees, suitable for professional traders; 8. Gemini, emphasizes compliance, and provides custodial services; 9. Crypto.com, providing a variety of offers and services; 10. Bitstamp, an old exchange, strong liquidity,

What is a quantum chain? What are the quantum chain transactions?What is a quantum chain? What are the quantum chain transactions?Apr 21, 2025 pm 11:51 PM

Quantum Chain (Qtum) is an open source decentralized smart contract platform and value transmission protocol. 1. Technical features: BIP-compatible POS smart contract platform, combining the advantages of Bitcoin and Ethereum, introduces off-chain factors and enhances the flexibility of consensus mechanisms. 2. Design principle: realize on-chain and off-chain data interaction through main control contracts, be compatible with different blockchain technologies, flexible consensus mechanisms, and consider industry compliance. 3. Team and Development: An international team led by Shuai Chu, 80% of the quantum coins are used in the community, and 20% rewards the team and investors. Quantum chains are traded on Binance, Gate.io, OKX, Bithumb and Matcha exchanges.

Quantum Chain Exchange Ranking Top 10 Recommended (Updated in 2025)Quantum Chain Exchange Ranking Top 10 Recommended (Updated in 2025)Apr 21, 2025 pm 11:48 PM

Quantum chains can be traded on the following exchanges: 1. Binance: One of the world's largest exchanges, with large trading volume, rich currency and high security. 2. Sesame Open Door (Gate.io): a large exchange, providing a variety of digital currency transactions, with good trading depth. 3. Ouyi (OKX): operated by OK Group, with strong comprehensive strength, large transaction volume, and complete safety measures. 4. Bitget: Fast development, provides quantum chain transactions, and improves security. 5. Bithumb: operated in Japan, supports transactions of multiple mainstream virtual currencies, and is safe and reliable. 6. Matcha Exchange: a well-known exchange with a friendly interface and supports quantum chain trading. 7. Huobi: a large exchange that provides quantum chain trading,

What are the quantum chain trading platforms?What are the quantum chain trading platforms?Apr 21, 2025 pm 11:45 PM

Platforms that support Qtum trading are: 1. Binance, 2. OKX Ouyi, 3. Huobi, 4. Gate.io Sesame Open Door, 5. Siren, 6. Coinku, 7. Bit stamp, 8. Coinku, 9. Bybit, 10. Gemini, these platforms have their own characteristics and advantages.

How to trade quantum chainsHow to trade quantum chainsApr 21, 2025 pm 11:42 PM

The quantum chain (Qtum) transaction process includes three stages: preliminary preparation, purchase and sale. 1. Preparation: Select a compliant exchange, register an account, perform identity verification, and set up a wallet. 2. Purchase quantum chains: recharge funds, find trading pairs, place orders (market orders or limit orders), and confirm transactions. 3. Sell quantum chains: Enter the trading page, select the trading pair and order type (market order or limit order), confirm the transaction and withdraw cash.

What does cross-chain transaction mean? What are the cross-chain transactions?What does cross-chain transaction mean? What are the cross-chain transactions?Apr 21, 2025 pm 11:39 PM

Exchanges that support cross-chain transactions: 1. Binance, 2. Uniswap, 3. SushiSwap, 4. Curve Finance, 5. Thorchain, 6. 1inch Exchange, 7. DLN Trade, these platforms support multi-chain asset transactions through various technologies.

What are the hybrid blockchain trading platforms?What are the hybrid blockchain trading platforms?Apr 21, 2025 pm 11:36 PM

Suggestions for choosing a cryptocurrency exchange: 1. For liquidity requirements, priority is Binance, Gate.io or OKX, because of its order depth and strong volatility resistance. 2. Compliance and security, Coinbase, Kraken and Gemini have strict regulatory endorsement. 3. Innovative functions, KuCoin's soft staking and Bybit's derivative design are suitable for advanced users.

Hot AI Tools

Undresser.AI Undress

Undresser.AI Undress

AI-powered app for creating realistic nude photos

AI Clothes Remover

AI Clothes Remover

Online AI tool for removing clothes from photos.

Undress AI Tool

Undress AI Tool

Undress images for free

Clothoff.io

Clothoff.io

AI clothes remover

Video Face Swap

Video Face Swap

Swap faces in any video effortlessly with our completely free AI face swap tool!

Hot Tools

Dreamweaver CS6

Dreamweaver CS6

Visual web development tools

SAP NetWeaver Server Adapter for Eclipse

SAP NetWeaver Server Adapter for Eclipse

Integrate Eclipse with SAP NetWeaver application server.

MantisBT

MantisBT

Mantis is an easy-to-deploy web-based defect tracking tool designed to aid in product defect tracking. It requires PHP, MySQL and a web server. Check out our demo and hosting services.

Zend Studio 13.0.1

Zend Studio 13.0.1

Powerful PHP integrated development environment

PhpStorm Mac version

PhpStorm Mac version

The latest (2018.2.1) professional PHP integrated development tool