Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain
  • Web 3
    • NFT
    • Metaverse
  • Regulation
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

All the reasons why the price of Bitcoin could be set for an explosive rally

2025-05-19

Jesse Pollak explains how Pectra Upgrade will overload the basic network

2025-05-19

The chance will increase to 83%, sec decision in June?

2025-05-19
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
Facebook X (Twitter) Instagram
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain

    Jesse Pollak explains how Pectra Upgrade will overload the basic network

    2025-05-19

    Ice Open Network welcomes Soonchain AI in its online+ ecosystem to stimulate web3 ai-game development

    2025-05-18

    Chainware and Karatdao work together to redefine security and identity in chains

    2025-05-18

    Declan Hannon about how Aurora Labs makes blockchain accessible to everyone

    2025-05-18

    Ailayer forges Alliance with Gaea to create a decentralized AI-driven metaverse

    2025-05-18
  • Web 3
    • NFT
    • Metaverse
  • Regulation

    Mastermind Behind Sec Sim -exchange schedule sentenced to 14 months in prison for manipulating Bitcoin price

    2025-05-18

    Capital One pays $ 425,000,000 to customers after they have reportedly cheated customers from a higher return on bank balance

    2025-05-18

    Myth or reality? Mica and its real impact on the market that dissolve common misconceptions

    2025-05-18

    Judge denies joint bid from Ripple and the SEC to end their long -term legal battle to end XRP

    2025-05-17

    A dozen new defendants who were sued in the alleged Rico -entry, connected to $ 263,000,000 crypto theft

    2025-05-17
  • Analysis

    XRP – Price is struggling to keep the ground – breakdown or breathing break?

    2025-05-19

    The American stock market now looks more favorable than pre-trade war, according to Tom Lee from Fundstrat-Dit why is why

    2025-05-18

    Analyst who mentioned XRP price mark at $ 0.5 says that the increase in this level is coming

    2025-05-17

    Michael Burry van Big Short abruptly sells one ‘recession-proof’ assets

    2025-05-17

    $ 40 billion in XRP on the road – where are they going?

    2025-05-17
  • Learn

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-09
  • Blog
  • Contact
    • Tech7685@gmail.com
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Bitcoin»Bitcoin at $62,000 – Will Buying Pressure Drive the Price Further Up?
Bitcoin

Bitcoin at $62,000 – Will Buying Pressure Drive the Price Further Up?

2024-10-05No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email
  • Bitcoin is steadily creeping towards $62,000 again
  • In the event of a correction, the cryptocurrency could drop to $54k

Bitcoin has been on the right track lately, with BTC slowly approaching $62,000 again. In fact, the buying pressure on the king coin has also increased. And this could support the currency’s bull rally in the coming days.

Bitcoin is moving towards $62k again

Although King Coin price volatility has remained low in recent days, it is quietly approaching the $62k resistance level. To be precise, the price of Bitcoin has risen 1.6% in the past 24 hours and stood at $61,992.73 at the time of writing.

Meanwhile, Ali, a popular crypto analyst, shared one tweet shows an interesting development.

According to the same, Bitcoin’s Taker buy/sell ratio increased on OKX. This indicated a wave of aggressive buying – a sign of upward momentum! That’s why AMBCrypto took a deeper look to learn more about the market sentiment surrounding BTC and how it could impact the coin’s price in the coming days or weeks.

Is BTC Ready for a Rally?

AMBCrypto’s analysis of CryptoQuant facts revealed that the net deposits of BTC on the exchanges were low, compared to the average of the past seven days. This clearly suggested that buying pressure on the currency has increased.

Bitcoin’s Korea Premium also revealed that investors in Korea are considering buying the coin. When purchasing pressure increases, this increases the chance of a price increase.

Bitcoin's exchange netflow fellBitcoin's exchange netflow dropped

Source: CryptoQuant

However, not everything worked in favor of the king’s coin. For example, BTC’s Coinbase Premium turned red at press time. Such incidents mean that buying sentiment among American investors is relatively weak.

See also  Bitcoin runs cautiously: Can Trump's policy prevent a crash?

AMBCrypto then looked at the coin’s daily chart to better understand what to expect.

AMBCrypto discovered that BTC was about to test its 20-day simple moving average (SMA). A bounce above could push the coin towards the $65k resistance.

However, like us reported earlierBitcoin had strong support near $60,365. A drop below that could be disastrous for investors. This appeared to be the case as a slip below that level could push the coin back towards its support at $54,000.

Source: TradingView


Read Bitcoins [BTC] Price prediction 2024–2025


On the contrary, if BTC manages to reach its resistance and successfully goes above it, then it will not be surprising to see the coin reach its all-time high again. In a utopian situation, Bitcoin might as well reach a new ATH in the coming weeks.

Next: Investigating why Solana was unable to sustain its rate hikes in the second half of 2024

Source link

Bitcoin buying drive pressure Price
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

All the reasons why the price of Bitcoin could be set for an explosive rally

2025-05-19

XRP – Price is struggling to keep the ground – breakdown or breathing break?

2025-05-19

$ 10 million bitcoin? Investment Pro calls it ‘chance’ of your life

2025-05-18

Data tips on chains Bitcoin to peak at $ 120,000

2025-05-18
Add A Comment

Comments are closed.

Top Posts

How optimism copes with increasing problems in the L2 sector

2023-11-25

Dogecoin Mining Guide

2023-05-04

Bitcoin’s next big move? Open interest says ‘get ready’

2025-04-08
Editors Picks

All reasons why HODLing Bitcoin is the right choice now

2024-07-27

Minima and Mercury FX launch a decentralized alternative to SWIFT to transform global payments

2024-07-26

Web3’s Killer app is… | Web3 Daily

2024-04-21

Cardano’s network activity increases after the upgrade: will prices follow?

2024-09-08

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

All the reasons why the price of Bitcoin could be set for an explosive rally

Jesse Pollak explains how Pectra Upgrade will overload the basic network

The chance will increase to 83%, sec decision in June?

Get Informed

Subscribe to Updates

Get the latest news and Update from Bitcoin Platform about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
© 2025 Bitcoinplatform.com - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$102,341.76-1.05%
  • ethereumEthereum(ETH)$2,372.73-4.99%
  • tetherTether USDt(USDT)$1.00-0.02%
  • rippleXRP(XRP)$2.31-2.91%
  • binancecoinBNB(BNB)$636.04-1.27%
  • solanaSolana(SOL)$160.62-5.13%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.215936-1.76%
  • cardanoCardano(ADA)$0.72-4.91%
  • tronTRON(TRX)$0.262354-3.53%
  • suiSui(SUI)$3.67-4.00%
  • chainlinkChainlink(LINK)$14.96-4.06%
  • avalanche-2Avalanche(AVAX)$21.45-5.65%
  • stellarStellar(XLM)$0.277874-3.90%
  • hyperliquidHyperliquid(HYPE)$25.43-5.35%
  • shiba-inuShiba Inu(SHIB)$0.000014-3.11%
  • hedera-hashgraphHedera(HBAR)$0.187402-2.87%
  • unus-sed-leoUNUS SED LEO(LEO)$8.57-1.20%
  • the-open-networkToncoin(TON)$3.03-2.24%
  • bitcoin-cashBitcoin Cash(BCH)$378.35-5.22%
  • litecoinLitecoin(LTC)$94.75-3.24%
  • polkadotPolkadot(DOT)$4.45-5.27%
  • moneroMonero(XMR)$340.97-0.39%
  • bitget-tokenBitget Token(BGB)$5.03-0.83%
  • daiDai(DAI)$1.00-0.03%
  • pepePepe(PEPE)$0.0000130.13%
  • piPi(PI)$0.73-2.81%
  • ethena-usdeEthena USDe(USDE)$1.00-0.02%
  • uniswapUniswap(UNI)$5.72-2.83%
  • bittensorBittensor(TAO)$395.10-7.26%
  • nearNEAR Protocol(NEAR)$2.67-2.74%
  • aaveAave(AAVE)$213.56-5.24%
  • okbOKB(OKB)$52.03-1.79%
  • aptosAptos(APT)$4.88-5.43%
  • ondo-financeOndo(ONDO)$0.89-3.73%
  • kaspaKaspa(KAS)$0.103979-5.67%
  • internet-computerInternet Computer(ICP)$5.01-4.15%
  • ethereum-classicEthereum Classic(ETC)$17.52-4.48%
  • gatechain-tokenGateToken(GT)$21.38-1.12%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.64-2.61%
  • crypto-com-chainCronos(CRO)$0.094262-4.26%
  • mantleMantle(MNT)$0.73-0.29%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.228900-3.18%
  • vechainVeChain(VET)$0.027080-4.01%
  • render-tokenRender(RENDER)$4.34-5.62%
  • usd1World Liberty Financial USD(USD1)$1.000.03%
  • ethenaEthena(ENA)$0.350867-7.00%
  • filecoinFilecoin(FIL)$2.75-3.37%
  • cosmosCosmos(ATOM)$4.68-1.67%
  • algorandAlgorand(ALGO)$0.212082-3.38%
  • bitcoinBitcoin(BTC)$102,341.76-1.05%
  • ethereumEthereum(ETH)$2,372.73-4.99%
  • tetherTether USDt(USDT)$1.00-0.02%
  • rippleXRP(XRP)$2.31-2.91%
  • binancecoinBNB(BNB)$636.04-1.27%
  • solanaSolana(SOL)$160.62-5.13%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.215936-1.76%
  • cardanoCardano(ADA)$0.72-4.91%
  • tronTRON(TRX)$0.262354-3.53%
  • suiSui(SUI)$3.67-4.00%
  • chainlinkChainlink(LINK)$14.96-4.06%
  • avalanche-2Avalanche(AVAX)$21.45-5.65%
  • stellarStellar(XLM)$0.277874-3.90%
  • hyperliquidHyperliquid(HYPE)$25.43-5.35%
  • shiba-inuShiba Inu(SHIB)$0.000014-3.11%
  • hedera-hashgraphHedera(HBAR)$0.187402-2.87%
  • unus-sed-leoUNUS SED LEO(LEO)$8.57-1.20%
  • the-open-networkToncoin(TON)$3.03-2.24%
  • bitcoin-cashBitcoin Cash(BCH)$378.35-5.22%
  • litecoinLitecoin(LTC)$94.75-3.24%
  • polkadotPolkadot(DOT)$4.45-5.27%
  • moneroMonero(XMR)$340.97-0.39%
  • bitget-tokenBitget Token(BGB)$5.03-0.83%
  • daiDai(DAI)$1.00-0.03%
  • pepePepe(PEPE)$0.0000130.13%
  • piPi(PI)$0.73-2.81%
  • ethena-usdeEthena USDe(USDE)$1.00-0.02%
  • uniswapUniswap(UNI)$5.72-2.83%
  • bittensorBittensor(TAO)$395.10-7.26%
  • nearNEAR Protocol(NEAR)$2.67-2.74%
  • aaveAave(AAVE)$213.56-5.24%
  • okbOKB(OKB)$52.03-1.79%
  • aptosAptos(APT)$4.88-5.43%
  • ondo-financeOndo(ONDO)$0.89-3.73%
  • kaspaKaspa(KAS)$0.103979-5.67%
  • internet-computerInternet Computer(ICP)$5.01-4.15%
  • ethereum-classicEthereum Classic(ETC)$17.52-4.48%
  • gatechain-tokenGateToken(GT)$21.38-1.12%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.64-2.61%
  • crypto-com-chainCronos(CRO)$0.094262-4.26%
  • mantleMantle(MNT)$0.73-0.29%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.228900-3.18%
  • vechainVeChain(VET)$0.027080-4.01%
  • render-tokenRender(RENDER)$4.34-5.62%
  • usd1World Liberty Financial USD(USD1)$1.000.03%
  • ethenaEthena(ENA)$0.350867-7.00%
  • filecoinFilecoin(FIL)$2.75-3.37%
  • cosmosCosmos(ATOM)$4.68-1.67%
  • algorandAlgorand(ALGO)$0.212082-3.38%