BitBull drew comparisons to BTC price performance from the time, with early 2023 seeing Bitcoin and altcoins emerge from the pit of the 2022 bear market.“Back then, $BTC had already bottomed (Q4 2022) and went on to rally 200%+ within a year,” he continued.“I guess it’s time for btc to repeat the 2023-24 rally.”Source: X/@AkaBull_Andre Dragosch, European head of research at asset management firm Bitwise, meanwhile flagged Goldman Sachs research seeing further DXY downside to come.“NOTE: US Dollar is still significantly overvalued according to GS,” he commented alongside a Goldman chart of dollar strength versus US growth performance. “Lots of room for USD depreciation = upside potential for BTC to re-rate.”Source: X/@Andre_DragoschBTC price gives cautious bullish hintsBitcoin traders eyed various positive chart signals on the day, with these including a potential bottom formation on the 4-hour chart.
Source: X/@MirageMogulCrypto trader, analyst and entrepreneur Michaël van de Poppe hoped for a fresh retest of resistance, for him one of two key areas of interest.“Bitcoin is still nicely consolidating between the two levels,” he concluded. “The test at $87K did happen, and I think that we'll see a big breakout once we'll retest it again.What's next?
Gold remained the standout winner, having set new all-time highs above $3,300 per ounce on the day.“Unlike gold, BTC has not caught a safe-haven bid,” trading firm QCP Capital summarized in its latest bulletin to Telegram channel subscribers. “The ‘alternative store of value’ narrative isn't gaining traction in the current macro regime.
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Author / Journalist: Cointelegraph by William Suberg
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