{"id":630782,"date":"2024-07-21T03:00:11","date_gmt":"2024-07-21T03:00:11","guid":{"rendered":"https:\/\/ktsl888.com\/?p=630782"},"modified":"2024-07-21T07:49:29","modified_gmt":"2024-07-21T07:49:29","slug":"analyst-reveals-condition-for-bitcoin-to-reach-71000-details","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin\/analyst-reveals-condition-for-bitcoin-to-reach-71000-details\/","title":{"rendered":"Analyst Reveals Condition For Bitcoin To Reach $71,000 &#8211; Details"},"content":{"rendered":"<p><span style=\"font-weight: 400\">According to <a href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\" target=\"_blank\" rel=\"noopener nofollow\">data from CoinMarketCap<\/a>, the price of Bitcoin returned above $67,000\u00a0 with a 1.19% gain in the last 24 hours. Bitcoin appears to have found some stability in this region amidst multiple projections of further price gain. Interestingly, popular crypto analyst with X handle Rekt Capital has unveiled a particular scenario in which Bitcoin might actually build on its current positive performance.<br \/>\n<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-headed-to-100000\/\" target=\"_blank\" rel=\"noopener \">Crypto Analyst Says \u2018Think Bigger\u2019, Bitcoin Price Is Headed To $100,000<\/a><\/div>\n<h2><strong>Bitcoin Enters New Range-Bound Market &#8211; Rekt Capital<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">In an <a href=\"https:\/\/x.com\/rektcapital\/status\/27634090\" target=\"_blank\" rel=\"noopener nofollow\">X post<\/a> on July 20,\u00a0 Rekt Capital shared that Bitcoin closed its daily candle of the previous day above the support level of $65,000. According to the analyst, if BTC experiences a price dip to this level as seen in mid-May, a successful retest will allow the token to reignite its current price rally.<\/span><\/p>\n<p>Following the development of this projection, Rekt Capital predicts the crypto market leader could reach as high as $71,500, a price region last seen in early June.\u00a0 However, in a subsequent <a href=\"https:\/\/x.com\/rektcapital\/status\/11735410\" target=\"_blank\" rel=\"noopener nofollow\">post,<\/a> Rekt Capital suggests that Bitcoin may not record more gains past this level in the short term. Instead, BTC will enter a range-bound market between $65,000 &#8211; $71,500 which is expected to last through August.<\/p>\n<figure id=\"attachment_630783\" aria-describedby=\"caption-attachment-630783\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-630783 size-large\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/GS7iIrXXAAAIcmN.png?w=860&#038;resize=860%2C607\" alt=\"Bitcoin\" width=\"860\" height=\"607\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/GS7iIrXXAAAIcmN.png?w=1794 1794w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/GS7iIrXXAAAIcmN.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/GS7iIrXXAAAIcmN.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/GS7iIrXXAAAIcmN.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/GS7iIrXXAAAIcmN.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/GS7iIrXXAAAIcmN.png?w=120 120w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/GS7iIrXXAAAIcmN.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/GS7iIrXXAAAIcmN.png?w=1140 1140w\" sizes=\"auto, (max-width: 860px) 100vw, 860px\"><figcaption id=\"caption-attachment-630783\" class=\"wp-caption-text\">Source: Rekt Capital<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">However, a potential breakout from this zone would likely result in the asset moving past its all-time high value of $73,750. Alternatively, the failure of $65,000 to serve as a strong support level may allow BTC\u2019s price to fall to $60,000. In the presence of overwhelming selling pressure, as seen in the first week of July, BTC could further decline to around $56,000 &#8211; $58,000.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">At press time, the crypto market leader continues to trade at $67,394 with a 13.5% increase in the last seven days. Bitcoin\u2019s price performance is now positive on all major time frames with gains of 4.05% and 125.27% in the last one month and twelve months respectively.<br \/>\n<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/stalled-usdt-liquidity-threatens-bitcoin-price-further-growth-heres-why\/\" target=\"_blank\" rel=\"noopener \">Stalled USDT Liquidity Threatens Bitcoin Price Further Growth \u2013 Here\u2019s Why<\/a><\/div>\n<h2><strong>&#8216;Smart&#8217; Whale Maintains BTC Accumulation Pattern<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">In other news, a \u201csmart\u201d crypto whale has been purchasing large portions of Bitcoin in recent days. According to an <a href=\"https:\/\/x.com\/lookonchain\/status\/40153342\" target=\"_blank\" rel=\"noopener nofollow\">X post<\/a>, the whale acquired 213.78 BTC (worth $14.48 million) on Saturday, bringing its total haul over the last four days to 677 BTC ($45.6 million).<\/span><\/p>\n<p>Notably, this trader is known for purchasing BTC at low prices and selling high, recording over $30 million in profit in two trades over the last year. With the \u201csmart\u201d whale currently in another accumulation phase, BTC may be headed for some major gains in the next few months.<br \/>\n<\/p>\n<figure style=\"width: 1480px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.tradingview.com\/x\/mbE7rSzq\/\" alt=\"Bitcoin\" width=\"1480\" height=\"893\"><figcaption class=\"wp-caption-text\">BTC trading at $67,180 on the daily chart | Source: BTCUSDT chart on Tradingview.com<\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\"><em>Featured image from The Independent, chart from Tradingview<\/em><\/div>\n<p><span style=\"font-weight: 400\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to data from CoinMarketCap, the price of Bitcoin returned above $67,000\u00a0 with a 1.19% gain in the last 24 hours. Bitcoin appears to have found some stability in this region amidst multiple projections of further price gain. Interestingly, popular crypto analyst with X handle Rekt Capital has unveiled a particular scenario in which Bitcoin might actually build on its current positive performance. Related Reading: Crypto Analyst Says \u2018Think Bigger\u2019, Bitcoin Price Is Headed To $100,000 Bitcoin Enters New Range-Bound Market &#8211; Rekt Capital In an X post on July 20,\u00a0 Rekt Capital shared that Bitcoin closed its daily candle of the previous day above the support level of $65,000. According to the analyst, if BTC experiences a price dip to this level as seen in mid-May, a successful retest will allow the token to reignite its current price rally. Following the development of this projection, Rekt Capital predicts the crypto market leader could reach as high as $71,500, a price region last seen in early June.\u00a0 However, in a subsequent post, Rekt Capital suggests that Bitcoin may not record more gains past this level in the short term. Instead, BTC will enter a range-bound market between $65,000 &#8211; $71,500 which is expected to last through August. However, a potential breakout from this zone would likely result in the asset moving past its all-time high value of $73,750. Alternatively, the failure of $65,000 to serve as a strong support level may allow BTC\u2019s price to fall to $60,000. In the presence of overwhelming selling pressure, as seen in the first week of July, BTC could further decline to around $56,000 &#8211; $58,000.\u00a0 At press time, the crypto market leader continues to trade at $67,394 with a 13.5% increase in the last seven days. Bitcoin\u2019s price performance is now positive on all major time frames with gains of 4.05% and 125.27% in the last one month and twelve months respectively. Related Reading: Stalled USDT Liquidity Threatens Bitcoin Price Further Growth \u2013 Here\u2019s Why &#8216;Smart&#8217; Whale Maintains BTC Accumulation Pattern In other news, a \u201csmart\u201d crypto whale has been purchasing large portions of Bitcoin in recent days. According to an X post, the whale acquired 213.78 BTC (worth $14.48 million) on Saturday, bringing its total haul over the last four days to 677 BTC ($45.6 million). Notably, this trader is known for purchasing BTC at low prices and selling high, recording over $30 million in profit in two trades over the last year. With the \u201csmart\u201d whale currently in another accumulation phase, BTC may be headed for some major gains in the next few months.<\/p>\n","protected":false},"author":581,"featured_media":630784,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[428,1144,78790,3592,69575,92791],"class_list":["post-630782","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-range-bound","tag-rekt-capital","tag-smart-whale"],"acf":[],"yoast_head":"\n<title>Analyst Reveals Condition For Bitcoin Reach To $71,000 - Details<\/title>\n<meta name=\"description\" content=\"Crypto analyst Rekt Capital has unveiled a particular scenario in which Bitcoin might actually build on its current positive performance.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/news\/bitcoin\/analyst-reveals-condition-for-bitcoin-to-reach-71000-details\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Analyst Reveals Condition For Bitcoin Reach To $71,000 - Details\" \/>\n<meta property=\"og:description\" content=\"Crypto analyst Rekt Capital has unveiled a particular scenario in which Bitcoin might actually build on its current positive performance.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ktsl888.com\/news\/bitcoin\/analyst-reveals-condition-for-bitcoin-to-reach-71000-details\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-21T03:00:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-21T07:49:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/bitcoin-price-live-latest-2024.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1950\" \/>\n\t<meta property=\"og:image:height\" content=\"1300\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Semilore Faleti\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/SemiloreFaleti\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Semilore Faleti\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin\/analyst-reveals-condition-for-bitcoin-to-reach-71000-details\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin\/analyst-reveals-condition-for-bitcoin-to-reach-71000-details\/\"},\"author\":{\"name\":\"Semilore Faleti\",\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/person\/6280b76d69630ffb2f2fa78670d85d49\"},\"headline\":\"Analyst Reveals Condition For Bitcoin To Reach $71,000 &#8211; 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Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative. Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information. Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets. Outside his work, Semilore possesses other passions like all individuals. 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While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems. In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others. In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies. Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative. Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information. Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets. Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a \u201cmusic nomad\u201d always ready to listen to new artists and explore new trends. Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination. He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society. In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come. His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry. 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