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Crypto Writer
Arslan Butt
Crypto Writer
Arslan Butt
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Bitcoin is hovering near $80,000, forming a double bottom pattern, a classic bullish reversal signal. This technical formation suggests buyers are stepping in at $77,795, defending key support and potentially setting the stage for an upward breakout.
A break above $83,628 could confirm a trend shift, while failure to breach this level might lead to renewed selling pressure.
https://twitter.com/economics/status/1899174443001200808
The recent rally is driven by growing optimism surrounding U.S. regulatory support for crypto and increasing institutional adoption.
While European officials raise concerns about stablecoins potentially challenging the euro, the U.S. continues to embrace digital assets, signaling a shift that could make America a global crypto hub.
BBVA Expands Crypto Services, Boosting Market Confidence
Spain’s BBVA, the country’s second-largest bank, has gained regulatory approval to offer Bitcoin and Ethereum trading and custody services. Initially available to a select group, the service will soon expand to all private customers, further reinforcing Bitcoin’s mainstream adoption.
https://twitter.com/newsinvesting/status/1898960894744199352
- Unlike other institutions that rely on third-party custodians, BBVA will implement its own custody system, enhancing security and reducing counterparty risk.
- Bitcoin surged toward $80,000 following the announcement, as investors welcomed BBVA’s move as a step toward broader financial integration.
- BBVA’s previous experience in Switzerland and Turkey, where it launched crypto services in 2021 and 2023, strengthens confidence in its ability to execute this expansion successfully.
The banking sector’s increasing involvement in crypto adds legitimacy to digital assets, boosting investor sentiment.
Cathie Wood Predicts Bitcoin as the ‘New Bretton Woods’
Ark Invest CEO Cathie Wood envisions Bitcoin as a monetary revolution, likening it to the Bretton Woods system that once backed the dollar with gold. She forecasts a deflationary boom by late 2025, driven by AI and automation, reducing inflation while boosting productivity.
- Wood anticipates U.S. GDP growth of 7.3%, citing potential $4.5 trillion tax cuts and SEC regulatory changes under a second Trump administration.
- With clearer regulations, crypto firms that previously moved offshore are returning to the U.S., strengthening Bitcoin’s role in financial markets.
- Bitcoin’s fixed supply of 21 million coins makes it an increasingly attractive hedge against fiat currency devaluation.
Bitcoin has already climbed to $83,200, as investors interpret Wood’s outlook as a long-term validation of Bitcoin’s role as a financial safe haven.
Bitcoin Tests $80K—Can Bulls Reclaim Momentum?
Bitcoin (BTC/USD) is attempting to recover after rebounding from $77,795, currently trading near $80,827, up 0.49% in the last session. The green support zone at $77,795 has held firm, preventing deeper losses.
However, BTC remains below the descending trendline and the 50-period EMA at $85,141, signaling that bearish momentum has yet to fade.
- Key Resistance Levels: $83,628, $86,967, $91,018
- Key Support Levels: $77,795, $74,634, $71,918
A break above $83,628 could shift sentiment toward a more bullish outlook, paving the way for a move toward $86,967. However, failure to clear this level could invite renewed selling pressure, potentially pushing BTC back toward $77,795.
A decisive break below this support would expose Bitcoin to further declines, with $74,634 and $71,918 as the next downside targets.
For now, Bitcoin remains in a consolidation phase, and traders are closely watching whether bulls can reclaim control or if bearish momentum will persist.
BTC Bull: Earn Bitcoin Rewards with the Hottest Crypto Presale
BTC Bull ($BTCBULL) is gaining traction as a community-driven token that rewards holders with real Bitcoin. Unlike conventional meme tokens, BTCBULL airdrops BTC automatically when Bitcoin reaches key price milestones, offering a strong incentive for long-term investors.
Staking & Passive Income Opportunities
BTC Bull features high-yield staking, allowing users to earn passive income with an impressive 154% APY. This staking system has already seen strong community participation, with millions of BTCBULL tokens staked.
- Current Presale Price: $0.002405 per BTCBULL
- Total Raised: $3.4M / $3.66M target
With investor interest surging, this presale offers an opportunity to secure BTCBULL at early-stage prices before the next price jump.
