search
Homeweb3.0Bitcoin Markets Are Trading Lower on Thursday, Consolidating Gains from Earlier in the Week

Cryptocurrency markets are trading lower on Thursday, consolidating gains from earlier in the week.

Bitcoin Markets Are Trading Lower on Thursday, Consolidating Gains from Earlier in the Week

Cryptocurrency prices are consolidating gains made earlier in the week on Thursday.

After rallying earlier this week, cryptocurrency markets are consolidating those gains on Thursday. Bitcoin prices dropped slightly, but a crypto trader believes the coin has broken out from a seven-month channel structure.

Consolidating Gains: Cryptocurrency markets are consolidating gains from earlier in the week, with Bitcoin prices dropping slightly on Thursday.

Top Losers: Among the top losers for the day are NEAR Protocol (CRYPTO: NEAR), Chainlink (CRYPTO: LINK) and Filecoin (CRYPTO: FIL).

Trader Notes: Despite Bitcoin prices dropping, crypto trader Jelle sees Bitcoin having broken out from a seven-month long channel / flag structure. He concluded, “The second leg of the bull cycle is underway.”

#Bitcoin has broken out from a 7-month long channel / flag structure.

The second leg of the bull cycle is underway. ? pic.twitter.com/mEgDWzcdX6

Rekt Capital stated that Bitcoin is approaching a crucial retest of the Channel Top, a resistance level it has failed to break through in several previous attempts over the past few months.

A successful retest is needed for BTC to continue moving higher, but if it fails again, the price could struggle to rise.

Michaёl van de Poppe explained Bitcoin is still consolidating implying some weakness for the markets. The crypto king is only a few weeks away from elections and a potential renewed rate cut from the Federal Reserve. He concludes, “The ATH for Bitcoin is close.”

What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

The above is the detailed content of Bitcoin Markets Are Trading Lower on Thursday, Consolidating Gains from Earlier in the Week. 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
Bitcoin (BTC) Price Action: Bulls Target $100K But Must Defend Key LevelsBitcoin (BTC) Price Action: Bulls Target $100K But Must Defend Key LevelsApr 27, 2025 am 11:26 AM

Bitcoin is now trading above the $94,000 level, showing strong momentum after a sharp recovery from recent lows.

Bitcoin (BTC) Price Action: Bulls Eye $100K But Must Defend Key LevelsBitcoin (BTC) Price Action: Bulls Eye $100K But Must Defend Key LevelsApr 27, 2025 am 11:24 AM

Bitcoin is now trading above the $94,000 level, showing strong momentum after a sharp recovery from recent lows.

FloppyPepe (FPPE) Emerges as the Top Choice for Investors Seeking Smart Investment OpportunitiesFloppyPepe (FPPE) Emerges as the Top Choice for Investors Seeking Smart Investment OpportunitiesApr 27, 2025 am 11:22 AM

The cryptocurrency market offers numerous investment opportunities, with Dogecoin (DOGE) and Shiba Inu (SHIB) being popular options among meme coins.

Bitcoin (BTC) Could Reach $2.4M by 2030, According to ARK Invest's Latest ResearchBitcoin (BTC) Could Reach $2.4M by 2030, According to ARK Invest's Latest ResearchApr 27, 2025 am 11:20 AM

Bitcoin's trajectory has captured the imagination of investors, with ARK Invest's latest research update painting a transformative picture for the cryptocurrency's future.

Jed McCaleb's 2014 Departure from Ripple Was Likely Part of a StrategyJed McCaleb's 2014 Departure from Ripple Was Likely Part of a StrategyApr 27, 2025 am 11:18 AM

Jed McCaleb's 2014 departure from Ripple sparked rumors, but was likely part of a strategy.

5 Meme Coins Catching Heat: Floki Inu, Cheems, and One Undercover Gem Ready to Roar5 Meme Coins Catching Heat: Floki Inu, Cheems, and One Undercover Gem Ready to RoarApr 27, 2025 am 11:16 AM

What if the next meme coin to make serious waves isn't trending yet, but hiding in the shadows of Telegram chats and crypto Twitter threads?

The Dallas Stars have completely flipped the script on the Colorado Avalanche.The Dallas Stars have completely flipped the script on the Colorado Avalanche.Apr 27, 2025 am 11:14 AM

A clear underdog coming into the series thanks to injuries to Miro Heiskanen and Jason Robertson

Impressive Recovery in the Virtual Currency Market Continues as Altcoins Gain GroundImpressive Recovery in the Virtual Currency Market Continues as Altcoins Gain GroundApr 27, 2025 am 11:12 AM

The virtual currency market continues to display impressive recovery, with alternative cryptocurrencies gaining ground, driven by Bitcoin's recent resurgence.

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

Atom editor mac version download

Atom editor mac version download

The most popular open source editor

Dreamweaver CS6

Dreamweaver CS6

Visual web development tools

EditPlus Chinese cracked version

EditPlus Chinese cracked version

Small size, syntax highlighting, does not support code prompt function

Dreamweaver Mac version

Dreamweaver Mac version

Visual web development tools

SublimeText3 English version

SublimeText3 English version

Recommended: Win version, supports code prompts!