Bitcoin’s price action in the last two days has been broadly static over its support at $60,000, but the crypto bull market signals have continued.

Bitcoin ended the previous month with around 43% returns. The crypto market rally in recent months, led by BTC, has also seen no signs of an end. Moreover, analysts and experts are even more bullish with predictions for more price uptrends. Meanwhile, the crypto bull market signals are firm in the last two days, affirming all optimistic predictions.

For instance, Bitcoin bulls haven’t let bears take over and pull BTC below $60,000. At the same time, its market cap is comfortably trading at over $2 trillion. Analysts expect more upward price movements until the Bitcoin Halving event.

Prominent derivatives marketplace CME Group was also bullish on the crypto market’s prospects.

Giovanni Vicioso, a senior official of the group, said, “Since September, we have seen an uptick in Euro-denominated Bitcoin and Ether volumes, and we also continue to hear of growing customer interest, particularly in euro-denominated cryptocurrency products.”

Volumes in crypto derivatives trading have reached record highs recently. Options trading platforms had reported surging volumes with increased investor interest.

The rising inflows from the spot Bitcoin ETFs are also driving the crypto market rally. On the other hand, the changing market structure of crypto is an added advantage for new investors joining the crypto market.

BTC/USD 1D price chart

Bitcoin is currently trading at around $61,700 on March 3, 2024, with BTC/USD trading lower by a margin of 0.35% in the last 24 hours. Bitcoin’s market cap was trading at around $ 1.21 trillion.

BTC/USD is trading higher than its 20-day EMA (51,562.73), as BTC’s 24-hour volume was at around $20.67 billion. The global crypto market cap decreased by around 0.22%, trading above $2.34 trillion. BTC’s year-to-date returns are at 49.38%.

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Bitcoin traded with a rigid support at $66,000 over the last two days, leading to analysts revising BTC price targets for the near future.

Crypto trading volumes continued to stay at higher levels in the last 24 hours. Although volatility also increased, Bitcoin traded over its support levels, which stabilized at around $66,000. As a result, prospects for Bitcoin’s movements over the weekend could be optimistic. Meanwhile, analysts have revised BTC price targets, probably since bearish signs have not emerged in the market.

Analytics firm Swissblock has set $76,000 as a near-term target for Bitcoin. The firm had also set the $100,000 target for BTC in October 2023. In the report, the firm stated, “We predict that Bitcoin reaching $100,000 within the next five years is not just a dream but a plausible reality.”

Bitcoin’s sharp rebound after a big dip on March 5 could have set the tone for Swissblock mentioning the $76.000 target. BTC had retested the price range between $59,000 and $62,000 and successfully navigated through it. Moreover, a v-shaped recovery became prominent in BTC’s price chart, likely leading to experts revising the BTC price targets.

Higher crypto trading volumes could persist in the market in the next few days. If BTC holds its support until next week, it could be a positive trading indicator.

BTC/USD 1D price chart

Bitcoin is currently trading at around $ 67,600 on March 8, 2024, with BTC/USD trading higher by a margin of 1% in the last 24 hours. Bitcoin’s market cap was trading at around $ 1.32 trillion.

BTC/USD is trading higher than its 20-day EMA (57,034.59), as BTC’s 24-hour volume was at around $42 billion. The global crypto market cap increased by around 2.23%, trading above $2.57 trillion. BTC’s year-to-date returns are at 60.31%.

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Although Bitcoin’s price action has slowed down recently, crypto bears couldn’t take over its movements either, leading to relatively positive trading indicators.

The crypto market started the week on a neutral note, as Bitcoin’s price action did not see much change. Bitcoin has been static in a close range below $52,000 for over a week. Meanwhile, short-term indicators for the market are still in the green since crypto bears haven’t been successful. The crypto bears consistently staged a tussle with bulls, but Bitcoin’s support did not give away from $50,000.

As a result, experts and analysts believe there could be further growth in Bitcoin’s price action before the halving event. Moreover, BTC’s 20-day moving average is gradually rising to $50,000, creating an optimistic sign.

Besides Bitcoin’s movements, Ethereum was also a clear winner in the crypto market in February. It is attempting to consolidate above $3,000, while a few others, like BNB and SOL, have also rallied.

The spot Bitcoin ETFs have seen an encouraging trend over the last few days, with outflows slowing down. Grayscale’s ETF, which accounted for the highest outflows, witnessed only $44.2 million in withdrawals on February 23. If the pace for outflows slows down further, it could be an added boost for the crypto market.

The other ETFs have mostly seen rising inflows since January 2024.

BTC/USD 1D price chart

Bitcoin is currently trading at around $51,300 on February 26, 2024, with BTC/USD trading lower by a margin of 0.7% in the last 24 hours. Bitcoin’s market cap was trading at around $ 1 trillion.

BTC/USD is trading higher than its 20-day EMA (47,948.77), as BTC’s 24-hour volume was at around $14 billion. The global crypto market cap increased by around 0.28%, trading above $1.99 trillion. BTC’s year-to-date returns are at 21.35%.

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