Sign Up on MEXC
Bitcoin News: Bitcoin price risks a massive fall today if it breaches the 22,000 level. BTC options with $1.8 billion value expire, with a Put/Call ratio of 0.66 and the max pain at $22,000. Similarly, Ethereum price could also tumble as ETH options with a relatively small $863 notional value expire, with max pain at $1600.
Amid the major liquidation risk today, whales have moved over 10,000 BTC. Whales Alert on February 24 revealed two transactions with 5000 BTC each moved to a different wallet. The platform also reported 1037 BTC, 999 BTC, and 2046 BTC moved by whales.
Bitcoin price currently trades at $23,858, down nearly 1% in 24hrs. The 24-hour low and high for BTC price are $23,693 and $24,177, respectively.
Crypto Analyst’s Prediction Amid This Bitcoin Price News
Popular crypto analyst Michael van de Poppe noted that the U.S. Bureau of Economic Analysis data on the Core PCE Price Index today is the final data to watch. Core PCE MoM is expected at 0.4%. Anything lower will be positive for markets.
Also, traders need to keep an eye on the U.S. Dollar Index (DXY), which continues to move higher. The U.S. GDP for Q4 came in at 2.7%, slowing from 3.2% in the previous quarter. However, the weaker-than-expected economic growth news is expected to push the U.S. Federal Reserve to stick to a small rate hike in the next FOMC meeting on March 21-22.
According to Michael van de Poppe, the markets are still having a regular correction inside an uptrend. He suggests that as long as Bitcoin remains above $22K, it would be sufficient to expect continuation above $25K.
There hasn’t been a 3rd consecutive retest of $23.7K yet, but the BTC price is still holding above the Lower High resistance. If this price stability continues here, it indicates the price is slowing moving in the sell-side momentum against this new Lower High support.
Also Read: Ethereum Announces First Long-Standing “Holli (Holesovice)” Testnet To Solve ETH Supply Issues
- Michael Saylor Credits Bitcoin for Strategy’s Outperformance Over ‘Mag 7’ Stocks
- XRP Overtakes Shopify, Verizon, Citigroup in Market Value as Price Eyes $6
- Altcoin Season Index Hits New High As ETH, SOL, DOGE, and XRP Rally
- ‘Huge Breakthrough,’ Peter Brandt Says as Dogecoin Reclaims $0.30 Ahead ETF Launch
- Bitcoin Bull Cycle Could Extend To 2026, Arthur Hayes Predicts
- Bitcoin Price Q4 Rally Looms as ETF Inflows Hit $642M—Analyst eyes $150K
- Pepe Coin Price Prediction as the Token Jumps Nearly 20% – Will Whale Accumulation Take it to $0.00003?
- Pi Coin Price Prediction As Adam & Eve Pattern Signals Breakout Rally To $0.45 Ahead
- HBAR Price Prediction Amid DTCC Listing and Archax Expansion — Is $0.50 Next?
- Ethereum Price Eyes a 40% Surge as Morgan Stanley Shifts Fed Cuts Forecast
