{"id":304309,"date":"2024-05-18T00:15:08","date_gmt":"2024-05-17T18:45:08","guid":{"rendered":"https:\/\/dripp.zone\/news\/why-btc-rise-to-67k-hints-end-of-correction-trend-crypto-news\/"},"modified":"2024-05-18T00:15:25","modified_gmt":"2024-05-17T18:45:25","slug":"why-btc-rise-to-67k-hints-end-of-correction-trend-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/why-btc-rise-to-67k-hints-end-of-correction-trend-crypto-news\/","title":{"rendered":"Why BTC Rise to $67k Hints End of Correction Trend &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><span style=\"font-weight: 400;\">Bitcoin Price Analysis: This week has been notably bullish for the pioneer cryptocurrency <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/bitcoin-supply-on-exchanges-falls-as-bullish-pressure-mounts\/\">Bitcoin<\/a> showcasing a 10% growth as price jumped from $60474 to $66500. The rising BTC breach backed by a significant surge in volume gives a bullish breakout from a key resistance signaling the end of a 2-month correction trend. This upswing also triggered a renewed recovery sentiment in the altcoins market.\u00a0 4<\/span><\/p>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/bitcoin-btc-crypto-stocks-reacts-to-secs-repealed-sab-121-rule\/\">Bitcoin (BTC), Crypto Stocks Reacts To SEC\u2019s Repealed SAB-121 Rule<\/a><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<h2><b>BTC Targets $73,800 as Whale Holdings Remain High<\/b><\/h2>\n<figure style=\"width: 1946px\" class=\"wp-caption alignnone\"><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/s3.tradingview.com\/snapshots\/t\/TzV8GvgK.png\" alt=\"BITSTAMP:BTCUSD Chart \" width=\"1946\" height=\"937\"\/><\/noscript><figcaption class=\"wp-caption-text\">Bitcoin Price Analysis| Tradingview<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The last correction trend in <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price-predictions\/bitcoin-btc-price-prediction\/\">Bitcoin price<\/a> recently reverted from 50% Fibonacci retracement level at $56500. In theory, a pullback to this degree is considered beneficial for the asset to regain bullish momentum.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This renewed recovery pushed the BTC from $56000 to $66530 to record 18.7% and also developed a higher low indicating the traders are interested in buying dips. An analysis of the daily time frame chart shows the rally gave a decisive breakout in the channel pattern that carried this six-week correction.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p><span style=\"font-weight: 400;\">In a recent tweet, crypto analytics firm <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/x.com\/santimentfeed\/status\/1791213881722806555?t=7d9zXL9rtPgaRP4UU6sBkQ&#038;s=35\">Santiment<\/a> highlighted a significant trend in Bitcoin whale activity. According to their data, wallets holding 100 or more Bitcoin (BTC) continue to maintain a substantial amount of the cryptocurrency, totaling 11.79 million BTC.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Despite this, the activity of these whale wallets has plummeted to its lowest point in 2024. As of now, there are 15,907 wallets holding at least 100 BTC. This decrease in whale transactions suggests a period of reduced movement among major holders.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Santiment points out that an increase in whale activity could signal a bullish trend for Bitcoin.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p><span style=\"font-weight: 400;\">If the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/bitcoin-whales-bag-3400-btc-signaling-price-rally-ahead\/\">BTC<\/a> price shows sustainability above the breached trendline, the buyers could drive a rally to $73800.<\/span><\/p>\n<p><b>Technical Indicator\u00a0<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Exponential Moving Average: <\/b><span style=\"font-weight: 400;\">The rising 100-and-200-day <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/exponential-moving-average-how-to-leverage-it-in-crypto-market\/\">EMA<\/a> assures the broader trend remains bullish for Bitcoin.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Average Directional Index: <\/b><span style=\"font-weight: 400;\">The daily ADX slope uptick at 20% indicates the prior correction managed to stabilize the uptrend for higher growth.<\/span><\/li>\n<\/ul>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p class=\"m-0\">Related Articles<\/p>\n<p>                                <!-- \n\n<div class=\"desktopPostEnd d-on\"><\/div>\n\n --><\/p>\n<div class=\"m-on mobiless\">\n<div id=\"social-section-new\">\n<p>\u2713 Share:<\/p>\n<p>                                  <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new wp_new\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/markets\/bitcoin-price-analysis-why-btc-rise-to-67k-end-of-correction\/\" style=\"display: block\">  <i class=\"fa fa-whatsapp\"\/><\/a><\/p>\n<div>\n                                <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new tw_new_logo\" href=\"https:\/\/twitter.com\/intent\/tweet?text=https:\/\/coingape.com\/markets\/bitcoin-price-analysis-why-btc-rise-to-67k-end-of-correction\/\"><br \/>\n  <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"30\" height=\"30\"\/><br \/>\n<\/a>\n                                <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>          <!-- \n\n<div class=\"m-on pl-2 pr-2\">\n            \n\n<div class=\"row\">\n            \n\n<div class=\"col-6 pr-2\">\n         \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-7-crypto-marketing-firms-of-the-year\/?utm_source=abovesidebartabnews&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                  \n\n<div class=\"col-6 pl-2\">\n                 \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-10-web-3-games-to-explore-in-2023-here-list\/\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/23134356\/jpg_20221223_134223_0000.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                <\/div>\n\n\n        <\/div>\n\n                    --><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA197512\">\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. 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pioneer cryptocurrency Bitcoin showcasing a 10% growth as price jumped from $60474 to $66500. The rising BTC breach backed by a significant surge in volume gives a bullish breakout from a key resistance signaling the end of a 2-month correction trend. This upswing also [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":303671,"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-304309","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\/304309","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=304309"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/304309\/revisions"}],"predecessor-version":[{"id":304310,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/304309\/revisions\/304310"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/303671"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=304309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=304309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=304309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}