{"id":113822,"date":"2024-10-13T22:41:44","date_gmt":"2024-10-13T15:41:44","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=113822"},"modified":"2024-10-13T22:41:44","modified_gmt":"2024-10-13T15:41:44","slug":"how-bitcoins-pullback-to-60k-will-help-pepe","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=113822","title":{"rendered":"How Bitcoin&#8217;s pullback to $60K will help PEPE"},"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;\">BTC has a silver lining; the sharper pullback may have flushed out weak hands.\u00a0<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">Meanwhile, PEPE could still steal the spotlight.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">This month, <\/span><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;\"> has twice tried to break past the $65K resistance, with both attempts followed by sharp pullbacks. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The latest drop, which drove BTC down to $58K \u2013 its lowest in over two weeks \u2013 has raised concerns about a deeper correction.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Trading at $62,662 at press time, AMBCrypto warns that if a similar pattern holds, Bitcoin may face further downside pressure.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, there\u2019s a silver lining. The sharper pullback may have flushed out weak hands, potentially sparking renewed interest from stronger buyers.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> This cleansing effect often leads to fresh accumulation, setting the stage for a rebound.<\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">While Bitcoin has struggled, memecoins like <\/span><a href=\"https:\/\/ambcrypto.com\/category\/pepe-coin-news\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">PEPE<\/span><\/a><span style=\"font-weight: 400;\"> have seen a resurgence. PEPE has risen over 5% in a week. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Typically, memecoins thrive during periods of market uncertainty as traders seek high-risk, high-reward opportunities.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But PEPE\u2019s performance may still be tied to Bitcoin\u2019s price action.<\/span><\/p>\n<h2><b>BTC is showing short-term potential<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Currently, it looks like BTC is heading toward a short-term correction, with <\/span><a href=\"https:\/\/www.coinglass.com\/LongShortRatio\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\"><span style=\"font-weight: 400;\">longs<\/span><\/a><span style=\"font-weight: 400;\"> regaining control in the market. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This scenario sets up an ideal short-squeeze condition, where short sellers are forced to buy back BTC, driving the value of each token higher.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, this doesn\u2019t guarantee a rebound strong enough to position BTC for a bull run to $70K.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Over the past week, long-term holders have moved less than average, while sellers holding BTC for less than 155 days have started to sell off their holdings, as indicated by the green wig.<\/span><\/p>\n<div id=\"attachment_432658\" style=\"width: 1383px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-13-121330.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-432658\" class=\"wp-image-432658 size-full\" alt=\"BTC SOPR\" width=\"1373\" height=\"633\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-13-121330.png 1373w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-13-121330-300x138.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-13-121330-1024x472.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-13-121330-768x354.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-13-121330-1200x553.png 1200w\" data-lazy-sizes=\"(max-width: 1373px) 100vw, 1373px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-13-121330.png\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-432658\" class=\"wp-image-432658 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-13-121330.png\" alt=\"BTC SOPR\" width=\"1373\" height=\"633\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-13-121330.png 1373w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-13-121330-300x138.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-13-121330-1024x472.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-13-121330-768x354.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-13-121330-1200x553.png 1200w\" sizes=\"auto, (max-width: 1373px) 100vw, 1373px\"\/><\/a><\/p>\n<p id=\"caption-attachment-432658\" class=\"wp-caption-text\">Source: BGeometrics<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">In the context of a bull market, increased selling often signals a potential market top. <\/span><span style=\"font-weight: 400;\">As more investors take profits, concerns grow about a deeper pullback that could push BTC back below $60K.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Conversely, if $62K proves to be a market bottom \u2013 with longs dominating, LTHs remaining steady, and <\/span><a href=\"https:\/\/app.intotheblock.com\/coin\/BTC\/deep-dive?group=ownership&amp;chart=concentration\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\"><span style=\"font-weight: 400;\">others<\/span><\/a><span style=\"font-weight: 400;\"> viewing this as a dip to buy \u2013 it may signal the start of an accumulation phase.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s crucial to monitor these actions closely; any slight divergence in these trends could limit the likelihood of a rebound, which currently seems likely.<\/span><\/p>\n<h2><b>PEPE might stay in the green<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Historically, <\/span><a href=\"https:\/\/ambcrypto.com\/category\/memecoins\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">memecoins<\/span><\/a><span style=\"font-weight: 400;\"> have seen dramatic rallies during Bitcoin corrections as traders seek high-volatility opportunities in a shaky market.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, they are also highly sensitive to Bitcoin\u2019s broader market direction.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> If BTC can hold its current levels and start to rally, PEPE could experience a short-term correction as traders shift focus back to BTC and other high-cap assets.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the flip side, if Bitcoin continues to falter, PEPE may benefit from another memecoin cycle, potentially pushing it to new range highs.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While many newly launched memecoins have recorded double-digit surges, PEPE might continue to stay in the green as well.<\/span><\/p>\n<div id=\"attachment_432657\" style=\"width: 1810px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/glassnode-studio_pepe-net-transfer-volume-from-to-exchanges-pepe-all-exchanges-2.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-432657\" class=\"wp-image-432657 size-full\" alt=\"PEPE net flow\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/glassnode-studio_pepe-net-transfer-volume-from-to-exchanges-pepe-all-exchanges-2.png 1800w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/glassnode-studio_pepe-net-transfer-volume-from-to-exchanges-pepe-all-exchanges-2-300x169.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/glassnode-studio_pepe-net-transfer-volume-from-to-exchanges-pepe-all-exchanges-2-1024x576.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/glassnode-studio_pepe-net-transfer-volume-from-to-exchanges-pepe-all-exchanges-2-768x432.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/glassnode-studio_pepe-net-transfer-volume-from-to-exchanges-pepe-all-exchanges-2-1536x864.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/glassnode-studio_pepe-net-transfer-volume-from-to-exchanges-pepe-all-exchanges-2-1200x675.png 1200w\" data-lazy-sizes=\"(max-width: 1800px) 100vw, 1800px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/glassnode-studio_pepe-net-transfer-volume-from-to-exchanges-pepe-all-exchanges-2.png\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-432657\" class=\"wp-image-432657 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/glassnode-studio_pepe-net-transfer-volume-from-to-exchanges-pepe-all-exchanges-2.png\" alt=\"PEPE net flow\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/glassnode-studio_pepe-net-transfer-volume-from-to-exchanges-pepe-all-exchanges-2.png 1800w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/glassnode-studio_pepe-net-transfer-volume-from-to-exchanges-pepe-all-exchanges-2-300x169.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/glassnode-studio_pepe-net-transfer-volume-from-to-exchanges-pepe-all-exchanges-2-1024x576.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/glassnode-studio_pepe-net-transfer-volume-from-to-exchanges-pepe-all-exchanges-2-768x432.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/glassnode-studio_pepe-net-transfer-volume-from-to-exchanges-pepe-all-exchanges-2-1536x864.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/glassnode-studio_pepe-net-transfer-volume-from-to-exchanges-pepe-all-exchanges-2-1200x675.png 1200w\" sizes=\"auto, (max-width: 1800px) 100vw, 1800px\"\/><\/a><\/p>\n<p id=\"caption-attachment-432657\" class=\"wp-caption-text\">Source : Glassnode<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">In the last three days, PEPE surged above $0.000010 but struggled to hold that level. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">A huge influx of 1.8 trillion PEPE tokens deposited into exchanges \u2013\u00a0 the highest in three months \u2013 has made it tough for the bulls to maintain momentum.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This highlights just how volatile memecoins can be. Interestingly, as BTC pulls back, PEPE is again experiencing an increase in net withdrawals, which historically signals a market bottom.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For a successful bull run, consistent net outflows are crucial. If this trend breaks as BTC regains dominance, it could dampen the renewed optimism surrounding PEPE.<\/span><\/p>\n<hr\/>\n<p style=\"text-align: center;\">Realistic or not, here\u2019s\u00a0<a href=\"https:\/\/ambcrypto.com\/calculator\/marketcap\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">PEPE\u2019s market cap in BTC\u2019s terms<\/a><\/p>\n<hr\/>\n<p><span style=\"font-weight: 400;\">Overall, the market appears to favor memecoins right now. The next few days will be crucial in determining whether BTC can regain strength, or if PEPE will continue to steal the spotlight.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If it does, PEPE might soon break past the $0.000010 resistance.<\/span><\/p>\n<div class=\"post-nav\">\n<div class=\"next-blog\">\nNext: <a href=\"https:\/\/ambcrypto.com\/bitcoin-analyst-predicts-rise-to-75k-80k-heres-why\/\" rel=\"prev\" data-wpel-link=\"internal\">Bitcoin: Analyst predicts rise to $75K-$80K: Here\u2019s why<\/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\/how-bitcoins-pullback-to-60k-will-help-pepe\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BTC has a silver lining; the sharper pullback may have flushed out weak hands.\u00a0 Meanwhile, PEPE could still steal the spotlight. This month, Bitcoin [BTC] has twice tried to break &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=113822\" 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-113822","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/113822","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=113822"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/113822\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=113822"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=113822"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=113822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}