News

Bitcoin’s Weekly Close Signals Potential Rebound, Analyst Weighs In

Bitcoin's potential bullish reversal near $42,000 sparks hope as analysts eye $48,000 resistance amid improving market sentiment.
Bitcoin’s Weekly Close Signals Potential Rebound, Analyst Weighs In

Bitcoin has recently shown signs of a potential rebound as it hovers near the $42,000 mark. This development comes after fluctuating fortunes for the digital currency, which saw significant gains late in the week, boosting trader confidence in the possibility of an upward trajectory. At press time, however, BTC was trading at $41,849.15, a 0.39% decline from the intra-day high.

During the downturn, BTC’s market capitalization and 24-hour trading volume dipped by 0.58% and 47.82%, respectively, to $820.62 billion and $12.95 billion. 

Advertisement

Analysts Predict Bitcoin’s Path

Market analysts are closely monitoring Bitcoin’s performance, especially as it approaches a crucial weekly close. Michaël van de Poppe, a crypto market analyst, shared his insights, suggesting that the recent dip in Bitcoin’s value, which had investors bracing for a 20% drop, might end. 

According to van de Poppe, Bitcoin could be gearing up to challenge the $48,000 resistance level. However, he does not dismiss the possibility of a pullback to the mid to low $ 30,000 range before moving upwards.

Advertisement

Factors Influencing Bitcoin’s Performance

Several factors are contributing to the current market sentiment surrounding Bitcoin. These include outflows from exchange-traded funds (ETFs), selling pressure from defunct exchanges like FTX and Mt. Gox, and anticipation of the upcoming block subsidy halving in April. 

Despite these challenges, van de Poppe remains optimistic about Bitcoin’s future, predicting a consolidation phase between $37,000 and $48,000 in the coming months, which could pave the way for altcoins to shine.

Advertisement

The Significance of the Weekly Close

Another perspective comes from an analyst, Rekt Capital, who emphasized the importance of Bitcoin’s upcoming weekly close. A close above the $41,300 range low could signal a positive shift in momentum, potentially rescuing Bitcoin from its recent slump. 

Moreover, macroeconomic factors, such as the U.S. inflation rates and GDP growth, also contribute to the cryptocurrency’s performance. The recent data indicating a manageable inflation rate has fostered hope for the Federal Reserve’s less aggressive interest rate policy, which could bode well for Bitcoin.

Read Also: Coinbase Stock Price Prediction: Will Correction Trend Push $COIN Below $100?

Advertisement

Share
Kelvin Munene Murithi

Kelvin Munene is a crypto and finance journalist with over 5 years of experience, offering in-depth market analysis and expert commentary . With a Bachelor's degree in Journalism and Actuarial Science from Mount Kenya University, Kelvin is known for his meticulous research and strong writing skills, particularly in cryptocurrency, blockchain, and financial markets. His work has been featured across top industry publications such as Coingape, Cryptobasic, MetaNews, Cryptotimes, Coinedition, TheCoinrepublic, Cryptotale, and Analytics Insight among others, where he consistently provides timely updates and insightful content. Kelvin’s focus lies in uncovering emerging trends in the crypto space, delivering factual and data-driven analyses that help readers make informed decisions. His expertise extends across market cycles, technological innovations, and regulatory shifts that shape the crypto landscape. Beyond his professional achievements, Kelvin has a passion for chess, traveling, and exploring new adventures.

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Just-In: Changpeng “CZ” Zhao Counters Peter Schiff, Says “Tokenizing Gold Is Not On-Chain Gold”

Binance founder Changpeng "CZ" Zhao debunked economist Peter Schiff's views on tokenizing gold. CZ claimed…

October 23, 2025
  • News

$240 Million Hacked Crypto Exchange WazirX Reopens Deposits But Faces Community Backlash

Indian crypto exchange WazirX has taken key steps toward resuming full operations, with INR and…

October 23, 2025
  • News

Expert Flags Pi Network Team as Source of Selling Pressure After Reported 1.2M PI Dump

Pi community expert Mr Spock has claimed that the Pi Network team is behind the…

October 23, 2025
  • News

Ripple’s Chris Larsen Expands XRP Realized Profit to $764M Amid Evernorth Deal

Ripple executive chairman Chris Larsen has amassed millions in realized profit from XRP withdrawals since…

October 23, 2025
  • News

Just In: Hyperliquid Strategies Eyes $1B Capital Raise, Plans HYPE Token Accumulation

Hyperliquid Strategies has filed with the U.S. SEC to raise up to $1 billion through…

October 23, 2025
  • News

Senators Reaffirm Commitment to Market Structure Bill After Meeting with Coinbase, Ripple

Senate Democrats and Republican lawmakers have ended separate roundtable meetings focused on the Crypto Market…

October 23, 2025