{"id":113791,"date":"2024-10-13T20:39:44","date_gmt":"2024-10-13T13:39:44","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=113791"},"modified":"2024-10-13T20:39:44","modified_gmt":"2024-10-13T13:39:44","slug":"bitcoin-analyst-predicts-rise-to-75k-80k-heres-why","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=113791","title":{"rendered":"Bitcoin: Analyst predicts rise to $75K-$80K: Here&#8217;s why"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<ul>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">Analyst projected a likely BTC breakout and rally towards $75K-$80K.\u00a0<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><em>Recovering investor demand supported the outlook, but rising leverage could be risky.<\/em>\u00a0<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/ambcrypto.com\/category\/bitcoin-news\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">Bitcoin [BTC]<\/span><\/a><span style=\"font-weight: 400;\"> price charts indicated a potential market structure shift, signaling a likely breakout from the $50K-$72K price range that began in March.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to analyst <\/span><a href=\"https:\/\/x.com\/StockmoneyL\/status\/1845050509452820725\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\"><span style=\"font-weight: 400;\">Stockmoney Lizards<\/span><\/a><span style=\"font-weight: 400;\">, the range breakout could happen in two weeks. If so, the analyst predicted BTC could hit $75K-$80K if the recent drop below $60K is defended as a \u2018higher low.\u2019<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">\u201cIf this higher low is confirmed, we will break this upper resistance within 2 weeks. $75-$80k next target.\u201d<\/span><\/p>\n<\/blockquote>\n<div id=\"attachment_432608\" style=\"width: 1845px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-breakout-SML.jpeg\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-432608\" class=\"size-full wp-image-432608\" alt=\"Bitcoin\" width=\"1835\" height=\"862\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-breakout-SML.jpeg 1835w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-breakout-SML-300x141.jpeg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-breakout-SML-1024x481.jpeg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-breakout-SML-768x361.jpeg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-breakout-SML-1536x722.jpeg 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-breakout-SML-1200x564.jpeg 1200w\" data-lazy-sizes=\"(max-width: 1835px) 100vw, 1835px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-breakout-SML.jpeg\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-432608\" class=\"size-full wp-image-432608\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-breakout-SML.jpeg\" alt=\"Bitcoin\" width=\"1835\" height=\"862\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-breakout-SML.jpeg 1835w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-breakout-SML-300x141.jpeg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-breakout-SML-1024x481.jpeg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-breakout-SML-768x361.jpeg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-breakout-SML-1536x722.jpeg 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-breakout-SML-1200x564.jpeg 1200w\" sizes=\"auto, (max-width: 1835px) 100vw, 1835px\"\/><\/a><\/p>\n<p id=\"caption-attachment-432608\" class=\"wp-caption-text\">Source: Stockmoney Lizards<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">For context, BTC has been chalking higher lows since August, a price action trend that signals a potential market structure shift, especially if a higher high is fronted.\u00a0<\/span><\/p>\n<h2>Rising demand vs. risk<\/h2>\n<p><span style=\"font-weight: 400;\">Investors\u2019 appetite for the world\u2019s largest digital asset also improved, suggesting a slow but steady demand recovery in Q4 compared to Q2\/Q3.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For perspective, BTC demand has been negative since May, with selling outpacing buying. However, CryptoQuant noted that the pace of the imbalance has eased.\u00a0<\/span><\/p>\n<div id=\"attachment_432610\" style=\"width: 1610px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-momentum.jpeg\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-432610\" class=\"size-full wp-image-432610\" alt=\"Bitcoin\" width=\"1600\" height=\"900\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-momentum.jpeg 1600w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-momentum-300x169.jpeg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-momentum-1024x576.jpeg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-momentum-768x432.jpeg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-momentum-1536x864.jpeg 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-momentum-1200x675.jpeg 1200w\" data-lazy-sizes=\"(max-width: 1600px) 100vw, 1600px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-momentum.jpeg\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-432610\" class=\"size-full wp-image-432610\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-momentum.jpeg\" alt=\"Bitcoin\" width=\"1600\" height=\"900\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-momentum.jpeg 1600w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-momentum-300x169.jpeg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-momentum-1024x576.jpeg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-momentum-768x432.jpeg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-momentum-1536x864.jpeg 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-momentum-1200x675.jpeg 1200w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\"\/><\/a><\/p>\n<p id=\"caption-attachment-432610\" class=\"wp-caption-text\">Source: CryptoQuant<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">In fact, the apparent demand for BTC gauged over the past 30 trading days, indicated that investor demand hit levels last seen in May. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">About 150K BTC, worth approximately $9.4 billion, was snagged by investors between late September and mid-October.\u00a0<\/span><\/p>\n<div id=\"attachment_432611\" style=\"width: 2570px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-30-day-average-scaled.jpeg\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-432611\" class=\"size-full wp-image-432611\" alt=\"Bitcoin\" width=\"2560\" height=\"1440\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-30-day-average-scaled.jpeg 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-30-day-average-300x169.jpeg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-30-day-average-1024x576.jpeg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-30-day-average-768x432.jpeg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-30-day-average-1536x864.jpeg 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-30-day-average-2048x1152.jpeg 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-30-day-average-1200x675.jpeg 1200w\" data-lazy-sizes=\"(max-width: 2560px) 100vw, 2560px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-30-day-average-scaled.jpeg\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-432611\" class=\"size-full wp-image-432611\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-30-day-average-scaled.jpeg\" alt=\"Bitcoin\" width=\"2560\" height=\"1440\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-30-day-average-scaled.jpeg 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-30-day-average-300x169.jpeg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-30-day-average-1024x576.jpeg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-30-day-average-768x432.jpeg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-30-day-average-1536x864.jpeg 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-30-day-average-2048x1152.jpeg 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-demand-30-day-average-1200x675.jpeg 1200w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\"\/><\/a><\/p>\n<p id=\"caption-attachment-432611\" class=\"wp-caption-text\">Source: CryptoQuant<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">Therefore, if the pattern extended in the next two weeks, the rising demand could support Stockmoney Lizards\u2019 breakout projection.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But rising leverage, as denoted by an uptick in Open Interest (OI), also posed an imminent pitfall to the breakout expectation.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For the unfamiliar, rising leverage meant speculators took more risk by borrowing money to open BTC positions in the Futures markets. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to <a href=\"https:\/\/x.com\/glassnode\/status\/1845142311501467690\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\">Glassnode<\/a>, the recent weekend pump from $58.9K to $63.4K, flushed some short-sellers ($2.5B in OI).\u00a0<\/span><\/p>\n<div id=\"attachment_432613\" style=\"width: 2410px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Bitcoin-leverage.jpeg\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-432613\" class=\"size-full wp-image-432613\" alt=\"BTC\" width=\"2400\" height=\"1383\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Bitcoin-leverage.jpeg 2400w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Bitcoin-leverage-300x173.jpeg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Bitcoin-leverage-1024x590.jpeg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Bitcoin-leverage-768x443.jpeg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Bitcoin-leverage-1536x885.jpeg 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Bitcoin-leverage-2048x1180.jpeg 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Bitcoin-leverage-1200x692.jpeg 1200w\" data-lazy-sizes=\"(max-width: 2400px) 100vw, 2400px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Bitcoin-leverage.jpeg\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-432613\" class=\"size-full wp-image-432613\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Bitcoin-leverage.jpeg\" alt=\"BTC\" width=\"2400\" height=\"1383\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Bitcoin-leverage.jpeg 2400w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Bitcoin-leverage-300x173.jpeg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Bitcoin-leverage-1024x590.jpeg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Bitcoin-leverage-768x443.jpeg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Bitcoin-leverage-1536x885.jpeg 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Bitcoin-leverage-2048x1180.jpeg 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Bitcoin-leverage-1200x692.jpeg 1200w\" sizes=\"auto, (max-width: 2400px) 100vw, 2400px\"\/><\/a><\/p>\n<p id=\"caption-attachment-432613\" class=\"wp-caption-text\">Source: Glassnode<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">However, the analytic firm also noted that the drop in OI didn\u2019t surpass 5%, a level that historically always saw an extended BTC rally if hit. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">In short, heightened volatility and liquidation risks on either side of the price direction could derail the breakout expectation.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the meantime, BTC was valued at $62.8K and consolidated below the 200-day Moving Average (MA) at press time.\u00a0<\/span><\/p>\n<div class=\"post-nav\">\n<div class=\"next-blog\">\nNext: <a href=\"https:\/\/ambcrypto.com\/dogecoin-usage-hits-this-major-milestone-how-will-doge-benefit\/\" rel=\"prev\" data-wpel-link=\"internal\">Dogecoin usage hits THIS major milestone: How will DOGE benefit?<\/a> <\/div>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/ambcrypto.com\/bitcoin-analyst-predicts-rise-to-75k-80k-heres-why\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Analyst projected a likely BTC breakout and rally towards $75K-$80K.\u00a0 Recovering investor demand supported the outlook, but rising leverage could be risky.\u00a0 Bitcoin [BTC] price charts indicated a potential market &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=113791\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-113791","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/113791","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=113791"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/113791\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=113791"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=113791"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=113791"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}