The Bitcoin price showed some signs of recovery at the start of the week, 
trading above the $110,000 mark. This uptick follows two consecutive Fridays 
of major drops, igniting fears and uncertainty among investors. These concerns 
have been compounded by predictions from experts about a potential bear market 
on the horizon. Looming Bear Market Threat Market analyst Doctor Profit, known 
for his accurate forecasts regarding the recent Bitcoin price trajectory, has 
recently cast doubt on whether market makers will allow both retail and 
institutional investors to exit at more favorable prices after incurring 
losses. Related Reading: Dogecoin Price Moves: Can It Repeat The 36,000% Rally 
‘Anomaly’ From Last Cycle? In a social media post on X (previously Twitter), 
he suggested that the maximum bullish scenario for the Bitcoin price in the 
near-term could reach around $116,500, representing a 9% increase from its 
current levels. However, he emphasizes that a drop below $101,700 would breach 
what he terms the &#8220;magic bull market line,&#8221; effectively confirming a bear 
market. Profit advises caution, predicting a significant move that could push 
the Bitcoin price below this critical threshold, signaling the end of the bull 
run. Adding to the bearish sentiment, the Bitcoin price is currently hovering 
below the short-term holder realized price of $112,500. This figure represents 
the average entry point for short-term traders and buyers, many of whom are 
now facing losses. On-chain data compiled by the expert also indicates that 
these traders are likely to sell off their positions if the Bitcoin price dips 
between 5% and 10%, potentially intensifying short-term selling pressure. 
Challenging Times Ahead For Bitcoin Price Profit further elaborates on the 
market conditions, pointing out that current price movements are indicative of 
market makers liquidating both bullish and bearish positions. &#8220;Nothing goes 
down in a straight line,&#8221; he notes, suggesting that while the market could be 
in a bear market, it is essential to remain aware of short-term fluctuations. 
He argues that high-leverage traders must be wiped out on both sides before 
the market experiences its next significant downward movement. Related 
Reading: Is The Dogecoin Bull Run Over? Analyst Sees Echoes Of 2021 The expert 
also warns that every brief rally is designed to mislead bullish traders and 
liquidate late bearish positions. The market makers&#8217; strategy appears to 
involve pushing Bitcoin toward the $116,500 region to eliminate late bears and 
generate sufficient liquidity for another downward price adjustment, 
potentially leading to new local lows. Looking ahead, Doctor Profit predicts 
that such price movements will continue to recur in the coming weeks and 
months, creating a challenging environment for investors in the volatile 
digital asset market. Featured image from DALL-E, chart from TradingView.com

Bear Market Alert: Top Expert Claims Bitcoin Price Fate Hangs On $101,700 Support Level

Slerf&#8217;s refund completion highlights accountability and resilience, setting a 
precedent for community-driven recoveries in the crypto space.
The post Slerf completes refunds for $10M burned presale meme coins from March 
2024 appeared first on Crypto Briefing.

Slerf completes refunds for $10M burned presale meme coins from March 2024

Russia&#8217;s accelerating shift away from the U.S. dollar is shaking up global 
finance, with nearly all trade between Moscow, China, and India now conducted 
in national currencies—reshaping energy markets and propelling a new era of 
multipolar economic power. 95% of Russia’s China and India Trade Now Bypasses 
Dollar Systems Russia’s increasing pivot toward de-dollarization is […]

Russia Hits 95% De-Dollarization in Settlements With China and India

Ethereum price started a recovery wave above $3,950. ETH failed to clear 
$4,050 and recently started a fresh decline below $4,000. Ethereum started a 
fresh recovery above $3,880 and $3,980. The price is trading below $3,950 and 
the 100-hourly Simple Moving Average. There was a break below a bullish trend 
line with support at $3,960 on the hourly chart of ETH/USD (data feed via 
Kraken). The pair could continue to move down if it trades below $3,840. 
Ethereum Price Fails Again Ethereum price started a decent recovery wave above 
the $3,800 resistance, like Bitcoin. ETH price surpassed the $3,880 and $3,980 
levels to enter a short-term positive zone. The price even cleared the 50% Fib 
retracement level of the downward move from the $4,292 swing high to the 
$3,677 low. However, the bears remained active near the $4,080 resistance zone 
and prevented an upside continuation. The price failed to settle above the 
61.8% Fib retracement level of the downward move from the $4,292 swing high to 
the $3,677 low. There was a fresh decline below $4,000. Besides, there was a 
break below a bullish trend line with support at $3,960 on the hourly chart of 
ETH/USD. Ethereum price is now trading below $3,960 and the 100-hourly Simple 
Moving Average. On the upside, the price could face resistance near the $3,980 
level. The next key resistance is near the $4,050 level. The first major 
resistance is near the $4,080 level. A clear move above the $4,080 resistance 
might send the price toward the $4,120 resistance. An upside break above the 
$4,120 region might call for more gains in the coming sessions. In the stated 
case, Ether could rise toward the $4,220 resistance zone or even $4,250 in the 
near term. Downside Break In ETH? If Ethereum fails to clear the $3,980 
resistance, it could start a fresh decline. Initial support on the downside is 
near the $3,860 level. The first major support sits near the $3,840 zone. A 
clear move below the $3,840 support might push the price toward the $3,820 
support. Any more losses might send the price toward the $3,680 region in the 
near term. The next key support sits at $3,620. Technical Indicators Hourly 
MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly 
RSI &#8211; The RSI for ETH/USD is now below the 50 zone. Major Support Level – 
$3,840 Major Resistance Level – $4,050

Ethereum Price Faces Rejection Near Resistance Zone — Risk Of Deeper Correction Rises

Bitcoin price is attempting to recover above $108,000 and $108,500. BTC tested 
$111,800 and is currently trimming recent gains. Bitcoin started a fresh 
recovery wave above the $108,000 resistance level. The price is trading above 
$108,000 and the 100 hourly Simple moving average. There is a bullish trend 
line with support at $108,800 on the hourly chart of the BTC/USD pair (data 
feed from Kraken). The pair might continue to move up if it trades above the 
$110,500 zone. Bitcoin Price Trims Some Gains Bitcoin price started a recovery 
wave above the $105,500 resistance. BTC was able to surpass the $107,500 and 
$108,500 resistance levels. The bulls pushed the price above $110,500. There 
was a clear move above the 50% Fib retracement level of the recent decline 
from the $115,975 swing high to the $103,582 low. However, the bulls struggled 
to keep the price above the $111,500 level. The price is slowly moving lower 
from the 61.8% Fib retracement level of the recent decline from the $115,975 
swing high to the $103,582 low. Besides, there is a bullish trend line with 
support at $108,800 on the hourly chart of the BTC/USD pair. Bitcoin is now 
trading above $109,000 and the 100 hourly Simple moving average. Immediate 
resistance on the upside is near the $110,500 level. The first key resistance 
is near the $111,200 level. The next resistance could be $111,500. A close 
above the $111,500 resistance might send the price further higher. In the 
stated case, the price could rise and test the $112,500 resistance. Any more 
gains might send the price toward the $113,200 level. The next barrier for the 
bulls could be $115,000. Another Drop In BTC? If Bitcoin fails to rise above 
the $110,000 resistance zone, it could start a fresh decline. Immediate 
support is near the $108,800 level and the trend line. The first major support 
is near the $108,000 level. The next support is now near the $107,550 zone. 
Any more losses might send the price toward the $106,500 support in the near 
term. The main support sits at $105,500, below which BTC might struggle to 
recover in the short term. Technical indicators: Hourly MACD – The MACD is now 
gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The 
RSI for BTC/USD is now below the 50 level. Major Support Levels – $108,800, 
followed by $108,000. Major Resistance Levels – $110,500 and $111,500.

Cryptocurrency price in AUD