MHTCET OFFICIAL

I started looking into Bitcoin since 2019 and observing market since then. Here I will express my views on Bitcoin based on my prior experience. Any view should not be considered as a financial advice.

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Bitcoin is tackling support levels not seen in months. Where do traders think 
BTC price action will put on a definitive floor after nearly a 30% drop from 
all-time highs?

When will Bitcoin price bottom?

Solana has fallen to $126, its lowest price since mid-October, as investors 
prepare for an upcoming 11.2 million SOL token unlock from the FTX bankruptcy 
estate. According to crypto.news price tracker, Solana (SOL) has dropped 9% in 
the last 24 hours…

Solana dips below $130 ahead of the 11.2M SOL token unlock on March 1

Bitcoin (BTC) has declined by more than 10% in the last two weeks, falling 
from approximately $98,000 to around $86,000 at the time of writing. The high 
selling pressure has pushed the flagship cryptocurrency to oversold levels it 
had not seen since August 2024. Bitcoin Is Oversold, Time To Buy? According to 
an X post by seasoned crypto analyst Ali Martinez, BTC has entered oversold 
conditions it hadn’t seen since August 2024. Specifically, the Relative 
Strength Index (RSI) for Bitcoin has dropped to the lowest level in the last 
seven months. Related Reading: Is Bitcoin Showing Early Signs Of Bullish 
Divergence? Analyst Explains For the uninitiated, the RSI measures Bitcoin’s 
momentum on a scale of 0-100, with values above 70 signaling overbought 
conditions and below 30 indicating oversold levels. According to the following 
chart, BTC’s RSI has tumbled below 30, indicating the digital asset may be 
significantly oversold. Notably, the last time BTC was this oversold &#8211; in 
August 2024 &#8211; it led to a 33% price surge, pushing the digital asset from 
$49,000 to $64,000 in two weeks. A similar trajectory today could propel BTC 
to around $110,000. Acclaimed crypto investor The Wolf Of All Streets had 
similar thoughts on Bitcoin’s RSI. The investor shared the following 4-hour 
chart, saying: Bullish divergence with oversold RSI still very much in play. 
At the moment, RSI still is making a higher low. We need to see a clear &#8220;elbow 
up&#8221; on the next candle to confirm. Nothing here yet. Meanwhile, crypto analyst 
Rekt Capital predicts that there may be further downside for BTC. The analyst 
emphasized that BTC is getting closer to filling the Chicago Mercantile 
Exchange (CME) gap between $78,000 to $80,700, which was created in November 
2024. For the uninformed, a CME gap refers to the price difference between 
Bitcoin&#8217;s last traded price on the CME before the weekend and its price when 
the market reopens. Bitcoin is often believed to fill these gaps as part of a 
natural market correction, with the gap acting as a level of price support or 
resistance. Mixed Opinion On BTC Price Action The recent crypto market 
pullback has led to split opinions among analysts. For instance, a former 
Glassnode analyst recently said that the odds of being in a bear market are 
“not large.” Related Reading: Bitcoin 4-Year CAGR Drops To 14.45% But Still 
Outshines Gold, Stocks – Details Similarly, recent analysis by Andre Dragosch, 
European Head of Research at Bitwise, indicates that BTC may be undervalued at 
current market prices. On the contrary, Standard Chartered predicts that there 
may be another 10% drop in BTC price. Although the opinion on Bitcoin’s short- 
term price action may be divided, the long-term bullish case for the digital 
asset remains intact. At press time, BTC trades at $84,963, down 2.4% in the 
past 24 hours. Featured image from Unsplash, Charts from X and TradingView.com

Bitcoin Hits Its Most Oversold Level Since August 2024 – Is A Rebound Coming?

The overall crypto market cap has gone down more than 8% as major tokens 
plummet, having yet to recover from the recent market crash. According to data 
from crypto.news, the five largest tokens by market cap have failed to 
recover…

Crypto market cap falls over 8% to $2.7t after recent crypto crash

The acquisition of Simplehash by Phantom aims to provide users with real-time, 
high-performance blockchain insights. This move enhances Phantom’s wallet 
capabilities, offering improved market data, NFT tracking, and spam 
protection. Phantom Boosts Wallet Performance with Simplehash Integration 
Phantom, a crypto wallet provider has acquired Simplehash, a token data 
platform, to deliver faster, more reliable blockchain […]

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