2025-02-05 02:00:45 by NewsBTC

Bitcoin price performance over the past week has been marked by volatility and mixed signals for investors. After briefly rising above the $100,000 price mark on Tuesday, BTC has since fallen back and now hovers just above $99,000. The rebound that initially raised market sentiment appears to have been short-lived, as the cryptocurrency struggles to regain the upward momentum needed to break through higher resistance levels. Bitcoin Smart DCA Flashes—What This Means While BTC faces these ups and downs, Darkfost, a contributor on CryptoQuant’s QuickTake platform, highlighted a potential opportunity for investors employing a dollar-cost averaging (DCA) strategy. According to Darkfost, the Smart DCA indicator was recently triggered, suggesting that current price levels may be a “favorable” entry point for those looking to accumulate BTC over time. Bitcoin smart DCA indicator. | Source: CryptoQuantDarkfost explained that by comparing Bitcoin’s average price to its short-term realized price—ranging from one week to one month—this indicator aims to identify optimal zones for long-term accumulation. The analyst added: When executed properly, a DCA strategy can generate substantial returns in the short, mid, or long term, depending on the investor’s goals. However, this indicator should be used alongside other metrics and a broader market analysis for optimal accuracy and effectiveness. Signs of Bullish Momentum Emerge While short-term price fluctuations have rattled some investors, other analysts point to underlying trends that hint at bullish potential. Another CryptoQuant analyst, Onatt, observed that buyer activity is beginning to outweigh selling pressure. Using data from Coinbase, Onatt noted a visible premium indicating strong demand for Bitcoin, even in the face of recent volatility. Furthermore, negative funding rates—driven by approximately $2 billion in long liquidations—suggest a market environment where buyers are taking advantage of discounted prices to position themselves for a potential upward movement. Onatt also explained: Bitcoin’s upward momentum remains likely as long as USDT dominance stays below 4.65%, signaling continued market confidence and potential for further recovery. Adding to this sentiment, analyst Ali identified a critical demand zone for Bitcoin between $96,475 and $99,360. According to Ali, as long as this range holds as a support level, the market outlook favors the bulls. BTC price is moving sideways on the 2-hour chart. Source: BTC/USDT on TradingView.comA breakout above the $102,350 to $103,900 supply zone could further strengthen the bullish case, potentially setting the stage for a sustained recovery. #Bitcoin $BTC has reclaimed a critical demand zone between $96,475 and $99,360 as support. As long as this level holds, the odds favor the bulls; especially if the $102,350–$103,900 supply wall breaks. pic.twitter.com/FLpwRqYVuu — Ali (@ali_charts) February 4, 2025 Featured image created with DALL-E, Chart from TradingView Samuel Edyme Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics. When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.” PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp. Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.