{"id":226398,"date":"2024-01-09T19:12:25","date_gmt":"2024-01-09T13:42:25","guid":{"rendered":"https:\/\/dripp.zone\/news\/bitcoin-price-above-46000-brings-90-addresses-in-profit-is-60k-next-target-crypto-news\/"},"modified":"2024-01-09T19:12:29","modified_gmt":"2024-01-09T13:42:29","slug":"bitcoin-price-above-46000-brings-90-addresses-in-profit-is-60k-next-target-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-price-above-46000-brings-90-addresses-in-profit-is-60k-next-target-crypto-news\/","title":{"rendered":"Bitcoin Price Above $46000 Brings 90% Addresses in Profit, Is $60k Next Target? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"post-172988\">\n<p>\nThe Bitcoin price breakout from the channel hints the buyers preparing for a prolonged recovery trend, time to enter?\t\t\t\t<\/p>\n<p><!--\n     \n\n<div class=\"marketThumbs\">\n             <noscript><img width=\"1200\" height=\"578\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/01\/ii7ZeMc0-e1704805684225.png\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Bitcoin price\" decoding=\"async\" fetchpriority=\"high\" \/><\/noscript><\/div>\n\n\n--><\/p>\n<p class=\"MarketsUp f-14 d-block\">  Published 20 mins ago <\/p>\n<div class=\"Atcs\">\n<p><span style=\"font-weight: 400;\">The Bitcoin price regains momentum as market confidence towards the approval of Spot Bitcoin ETFs continues to grow. On January 8th, the U.S. Securities and Exchange Commission (SEC) rapidly reviewed and provided feedback to several companies proposing <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/news\/liveblog\/cryptocurrency-news-live-today-bitcoin-ethereum-xrp-solana-pepe-coin-dogecoin-tether-shiba-inu-price-latest-updates-08-january-2024\/\">spot Bitcoin exchange-traded funds (ETFs)<\/a>, just hours after these firms submitted their fee structure documents. This quick response underscores the SEC\u2019s active role in the review process of cryptocurrency ETFs.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p><span style=\"font-weight: 400;\">Thus, the BTC price surged to $47355 for the first time since March 2022, reclaiming crucial resistance that paves the way for further growth.<\/span><\/p>\n<h2><b>Channel Patten Breakout Hints Prolonged Recovery<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Bitcoin Fear &#038; Greed Index at 76% reflects \u2018Greed\u2019 among market participants towards this asset.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The BTC price breakout from the channel pattern signals a quick 11% surge ahead<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The intraday trading volume in Bitcoin is $37.3 Billion, indicating a 30% gain.<\/span><\/li>\n<\/ul>\n<figure style=\"width: 1946px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Bitcoin Price\" width=\"1946\" height=\"937\" data-lazy-src=\"https:\/\/s3.tradingview.com\/snapshots\/i\/ii7ZeMc0.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/s3.tradingview.com\/snapshots\/i\/ii7ZeMc0.png\" alt=\"Bitcoin Price\" width=\"1946\" height=\"937\"\/><\/noscript><figcaption class=\"wp-caption-text\">Bitcoin Price| TradingView Chart<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Amid the recent uncertainty in the crypto market, the leading cryptocurrency Bitcoin traveled a shallow recovery for over a month under the influence of a channel pattern. The two trendlines limited the price movement in a confined range offering dynamic resistance and support.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p><span style=\"font-weight: 400;\">However, on January 8th, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/bitcoin\/\">Bitcoin price<\/a> witnessed a significant inflow in line with the progress on Spot Bitcoin ETF approval. Thus, the coin value surged 6.73% and breached the channel pattern on the upside to reach a $47335 high.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As the BTC price soared past $46,000, the on-chain analytics firm <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/x.com\/intotheblock\/status\/1744665190044442745?s=20\">IntoTheBlock<\/a> reported a significant achievement: over 90% of Bitcoin addresses are now in profit. This development reflects a strong boost in investor confidence and suggests a decreased likelihood of Bitcoin holders selling their assets due to fear.<\/span><\/p>\n<figure id=\"attachment_172992\" aria-describedby=\"caption-attachment-172992\" style=\"width: 1572px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-172992\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"In\/Out of the Money\" width=\"1572\" height=\"533\" data-lazy-srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/01\/image_2024-01-09_18-32-43.png 1572w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/01\/image_2024-01-09_18-32-43-300x102.png 300w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/01\/image_2024-01-09_18-32-43-1224x415.png 1224w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/01\/image_2024-01-09_18-32-43-768x260.png 768w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/01\/image_2024-01-09_18-32-43-1536x521.png 1536w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/01\/image_2024-01-09_18-32-43-150x51.png 150w\" data-lazy-sizes=\"(max-width: 1572px) 100vw, 1572px\" data-lazy-src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/01\/image_2024-01-09_18-32-43.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-172992\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/01\/image_2024-01-09_18-32-43.png\" alt=\"In\/Out of the Money\" width=\"1572\" height=\"533\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/01\/image_2024-01-09_18-32-43.png 1572w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/01\/image_2024-01-09_18-32-43-300x102.png 300w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/01\/image_2024-01-09_18-32-43-1224x415.png 1224w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/01\/image_2024-01-09_18-32-43-768x260.png 768w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/01\/image_2024-01-09_18-32-43-1536x521.png 1536w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/01\/image_2024-01-09_18-32-43-150x51.png 150w\" sizes=\"auto, (max-width: 1572px) 100vw, 1572px\"\/><\/noscript><figcaption id=\"caption-attachment-172992\" class=\"wp-caption-text\">Bitcoin In\/Out of the Money| IntotheBlock<\/figcaption><\/figure>\n<blockquote>\n<p><span style=\"font-weight: 400;\">Moreover, In a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cnbc.com\/video\/2024\/01\/08\/fmr-sec-chair-jay-clayton-on-bitcoin-etf-approval-is-inevitable-theres-nothing-left-to-decide.html\">recent interview<\/a> with CNBC on January 8th, Jay Clayton, a former chairman of the U.S. Securities and Exchange Commission (SEC), expressed his conviction that the approval of a spot Bitcoin ETF in the United States is \u2018inevitable\u2019.\u00a0<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">By the press time, the Bitcoin price trades at $46817 with an intraday loss of 0.47% trying to sustain above the breached trendline of the channel pattern<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<h2><b>Is BTC Price Heading to $60000?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">While the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/parallel-channel-pattern\/\">rising channel pattern<\/a> typically indicates a trend towards correction, there are exceptional scenarios where a breakout above its upper trend line can signal a stronger bullish trend for the asset. If the coin price manages to hold its position above the breached trendline near $46350, the buyers will obtain suitable support to prolong the recovery trend. With sustained buying the post-breakout rally, could surge the BTC price to $52150, followed by the $60000 psychological mark.<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><b>Average Directional Index: <\/b><span style=\"font-weight: 400;\">The ADX value at a surprisingly low value of 15% hints the last correction will revive the buyer\u2019s strength for further growth.<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Exponential Moving Average<\/strong>: In case of occasional pullback, the BTC price can find suitable support at 20 and 50-day <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/exponential-moving-average-how-to-leverage-it-in-crypto-market\/\">EMA<\/a> slopes.<\/span><\/li>\n<\/ul>\n<h3>Related Articles:<\/h3>\n<p><noscript><link rel=\"stylesheet\" id=\"quads-style-css-css\" 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noopener\" target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer\/sharer.php?u=https:\/\/coingape.com\/markets\/bitcoin-price-90-addresses-in-profit-60k-target\/\" class=\"TeleSFb\"><i class=\"fa fa-facebook\"\/><\/a>\n                    <\/div>\n<\/p><\/div>\n<\/div>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA172988\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD172988\">\n<p>  The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p>     <!--           <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/category\/price-analysis\/\" class=\"closeArticle2 close-btn\">Close Story<\/a>--><\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bitcoin price breakout from the channel hints the buyers preparing for a prolonged recovery trend, time to enter? Published 20 mins ago The Bitcoin price regains momentum as market confidence towards the approval of Spot Bitcoin ETFs continues to grow. On January 8th, the U.S. Securities and Exchange Commission (SEC) rapidly reviewed and provided [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":226399,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-226398","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/226398","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=226398"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/226398\/revisions"}],"predecessor-version":[{"id":226400,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/226398\/revisions\/226400"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/226399"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=226398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=226398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=226398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}