News View Non-AMP

Bitcoin Bulls Ride The Trump-Wave; Price Eyes $70,000 levels

Published by
Anjali Belgaumkar

Amid looming concerns about Germany’s Bitcoin sales, the potential selling from Mt. Gox creditors, and miners selling their holdings, institutional investors reportedly added 100,000 Bitcoins in a single week, showing strong buying interest. Analyst Crypto Rus believes the current fear in the market may be exaggerated, given the concerns

He said that the German government has already sold a significant amount of Bitcoin, and despite this, the market has found a bottom and is in recovery. Mt. Gox is redistributing Bitcoin, but this has not led to a substantial increase in selling pressure. The price of Bitcoin is recovering, and the momentum has shifted upwards.

Discussing the Fear and Greed Index, which indicates market sentiment, he said that it shows a level of fear comparable to January 2023, which seems irrational given the current price of Bitcoin. He pointed out that it makes no sense for retail investors to be as fearful now when Bitcoin is much higher in value compared to when it was at $16,000.

Bitcoin Price Levels And Potential Targets:

Here’s a summary of analysis by Josh of Crypto World. He believes Bitcoin has surged, eliminating numerous short positions and is now facing critical short-term resistance. The recent situation involving Trump, a pro-Bitcoin candidate, has positively influenced Bitcoin’s price. A potential Trump presidency is seen as bullish for Bitcoin due to his supportive stance. 

Current Resistance: Between $60,000 to $63,000.

Support Levels: Around $56,000 to $57,000 and $51,000 to $53,000.

Short-Term Outlook: There might be a brief bullish relief or sideways action. A confirmed breakout above $60,000 to $62,000 could signal a return to a bullish trend. A breakout above $63,000 to $64,000 would further confirm this.

Liquidity Analysis: Bitcoin has cleared liquidity at $59.8k to $60,000 and might target liquidity above $60.4k to $60.8k before any significant pullback.

Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

Recent Posts

Crypto Week Is Coming: Will These 3 Bills Send Bitcoin to $120K?

Crypto is buzzing with bullish energy as Trump drops one positive update after another. Traders…

July 4, 2025

This Shiba Inu (SHIB) and Pepe Coin (PEPE) Rival Under $0.002 Could Turn $500 Into $50,000 in 2025

As the dust begins to settle on Shiba Inu and Pepe Coin, new challengers are…

July 4, 2025

FTX Repayment Blocked in 49 Regions Due to Crypto Restrictions

The FTX Recovery Trust has officially frozen creditor payouts in 49 jurisdictions where crypto activity…

July 4, 2025

Crypto News Today : “Crypto Week”,Ripple (XRP) Price, BitcoinUSD, XRP News Update, Stablecoins

July 4, 2025 06:17:54 UTC Ondo Finance and Pantera Capital Launch $250M RWA Investment Initiative…

July 4, 2025

Looking for the Next Crypto Buy? Why Pepeto Could Outshine SHIB, and PEPE

As the memecoin market continues to evolve, a new contender has entered the ring. With…

July 4, 2025

Ripple Price Prediction For July 4

Ripple has just announced a big development for the XRP Ledger (XRPL) community in the…

July 4, 2025