While the crypto market was going through a period of turbulence, the price of Bitcoin has experienced a significant rebound in recent days. Dropping below the $75,000 mark, the main cryptocurrency has since risen to over $82,000, representing an increase of over 6% in a day.
This improvement follows the announcement by U.S. President Donald Trump of a 90-day delay in the implementation of new customs duties. This decision led to a 10% surge in the Nasdaq index, pulling digital assets along. Therefore, the question arises: can this Bitcoin rebound turn into a sustainable bullish trend?
According to crypto analyst Ali Martinez, Bitcoin’s breakthrough of certain technical thresholds could pave the way for further growth. If it manages to stay above the critical support of $80,700, Martinez believes that Bitcoin could then target levels of $84,000, or even $87,000.
Credits: Ali Martinez (X)
On the other hand, renowned analyst Rekt Capital notes that Bitcoin is only 2% away from re-testing its downtrend, which could allow it to enter a new bullish cycle from a technical standpoint. The crypto analyst also observes that the Bitcoin price is currently moving between two crucial Exponential Moving Averages (EMA) for the bullish market.
Source: Rekt Capital
However, some on-chain indicators seem more nuanced. Indeed, data from CryptoQuant reveals a significant acceleration of Bitcoin inflows on the Binance exchange, with an influx of 22,106 BTC recently recorded. This dynamic reflects a certain caution among investors in the face of current macroeconomic uncertainty, especially with the upcoming release of inflation figures in the United States.
How to Buy Bitcoin (BTC) on WEEX ?
With the WEEX platform, you can buy Bitcoin easily and securely. Discover the steps to follow below :
Fund your account with a credit card, a bank transfer, or a crypto transfer.
Look for the BTC/USDT pair on the Spot market and buy the desired amount.
Secure your assets properly.
Remember, it is recommended never to invest what you are not willing to lose. The cryptocurrency market remains volatile and dangerous, even though the gains can be appealing.
Gaston has been a writer for over 7 years and a passionate cryptocurrency enthusiast since 2020. He loves exploring the crypto ecosystem and is now dedicated to sharing his insights and discoveries through InvestX.
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DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Trading cryptocurrencies involves risks, and it is important not to invest more than you can afford to lose.
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