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Journalist<\/p>\n<\/p><\/div>\n
Share this article<\/h4>\n<\/p><\/div>\n<\/p><\/div>\n\n\n- Buying pressure on Bitcoin did increase in the last 24 hours.<\/span><\/em><\/li>\n
- A bull rally could allow BTC to approach an all-time high.\u00a0<\/span><\/em><\/li>\n<\/ul>\n
Bitcoin [BTC]<\/span><\/a> has been facing trouble in the last few days as the coin\u2019s price fell under $64k. But investors shouldn\u2019t lose hope, as the king coin might have a plan that can push it up again in the coming days.\u00a0<\/span><\/p>\nBitcoins Bitcoin\u2019s secret bull move<\/b><\/h2>\n
BTC has faced much volatility in the past few days as the coin has once again plummeted under the $64k mark. <\/span><\/p>\nAt the time of writing, the king coin was <\/span>trading<\/span><\/a> at $63,952.64 with a market capitalization of over $1.2 trillion. But the coin might just have a trick up its sleeves, which can push it to new highs in the coming week. <\/span><\/p>\nCryptoQuant recently posted a <\/span>tweet<\/span><\/a> revealing that it was noticeable that low exchange flow multiple values were observed before the rally in 2023. The tweet mentioned, <\/span><\/p>\n\n\u201cThe current in<\/span>dicator levels are similarly low, which could signal that the market is preparing for the next upward trend.\u201d <\/span><\/p>\n<\/blockquote>\nTherefore, AMBCrypto planned to have a better look at market sentiment to find out whether a price uptick is on its way.\u00a0<\/span><\/p>\n\n![](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-01-at-3.31.21\u202fPM.png\")
<\/a><\/p>\nSource: X<\/p>\n<\/div>\n
Bitcoins Is BTC ready for a price increase?<\/b><\/h2>\n
As per our analysis of CryptoQuant\u2019s <\/span>data<\/span><\/a>, BTC\u2019s Exchange Reserve was dropping. This indicated that buying pressure on the king coin was rising. Whenever buying pressure increases, it hints at a price rise.\u00a0<\/span><\/p>\n\n![\"bitcoins](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-01-at-3.35.31\u202fPM.png\")
<\/a><\/p>\nSource: CfyptoQuant<\/p>\n<\/div>\n
Apart from that, Bitcoin\u2019s Binary CDD also looked pretty bullish. This indicated that long term holders\u2019 movement in the last seven days were lower than the average. They have a motive to hold their coins. <\/span><\/p>\nAdditionally, miners were also holding their coins.\u00a0 <\/span>This was proven by the Miners\u2019 Position Index (MPI), which showed that miners were selling holdings in a moderate range compared to its one-year average.<\/span><\/p>\nSince the on-chain metrics looked pretty bullish, <\/span>AMBCrypto planned to take a look at Bitcoin\u2019s daily chart. As per our analysis, BTC was failing to go above its critical resistance of $65k. <\/span><\/p>\n
\n
- \n
- Buying pressure on Bitcoin did increase in the last 24 hours.<\/span><\/em><\/li>\n
- A bull rally could allow BTC to approach an all-time high.\u00a0<\/span><\/em><\/li>\n<\/ul>\n
Bitcoin [BTC]<\/span><\/a> has been facing trouble in the last few days as the coin\u2019s price fell under $64k. But investors shouldn\u2019t lose hope, as the king coin might have a plan that can push it up again in the coming days.\u00a0<\/span><\/p>\n
Bitcoins Bitcoin\u2019s secret bull move<\/b><\/h2>\n
BTC has faced much volatility in the past few days as the coin has once again plummeted under the $64k mark. <\/span><\/p>\n
At the time of writing, the king coin was <\/span>trading<\/span><\/a> at $63,952.64 with a market capitalization of over $1.2 trillion. But the coin might just have a trick up its sleeves, which can push it to new highs in the coming week. <\/span><\/p>\n
CryptoQuant recently posted a <\/span>tweet<\/span><\/a> revealing that it was noticeable that low exchange flow multiple values were observed before the rally in 2023. The tweet mentioned, <\/span><\/p>\n
\n
\u201cThe current in<\/span>dicator levels are similarly low, which could signal that the market is preparing for the next upward trend.\u201d <\/span><\/p>\n<\/blockquote>\n
Therefore, AMBCrypto planned to have a better look at market sentiment to find out whether a price uptick is on its way.\u00a0<\/span><\/p>\n
\n<\/a><\/p>\nSource: X<\/p>\n<\/div>\n
Bitcoins Is BTC ready for a price increase?<\/b><\/h2>\n
As per our analysis of CryptoQuant\u2019s <\/span>data<\/span><\/a>, BTC\u2019s Exchange Reserve was dropping. This indicated that buying pressure on the king coin was rising. Whenever buying pressure increases, it hints at a price rise.\u00a0<\/span><\/p>\n
\n<\/a><\/p>\nSource: CfyptoQuant<\/p>\n<\/div>\n
Apart from that, Bitcoin\u2019s Binary CDD also looked pretty bullish. This indicated that long term holders\u2019 movement in the last seven days were lower than the average. They have a motive to hold their coins. <\/span><\/p>\n
Additionally, miners were also holding their coins.\u00a0 <\/span>This was proven by the Miners\u2019 Position Index (MPI), which showed that miners were selling holdings in a moderate range compared to its one-year average.<\/span><\/p>\n
Since the on-chain metrics looked pretty bullish, <\/span>AMBCrypto planned to take a look at Bitcoin\u2019s daily chart. As per our analysis, BTC was failing to go above its critical resistance of $65k. <\/span><\/p>\n
\n - A bull rally could allow BTC to approach an all-time high.\u00a0<\/span><\/em><\/li>\n<\/ul>\n
![](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTCUSD_2024-10-01_15-44-20.png\")
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