Bitcoin has strong bullish indicators that attract investor’s attention. Key metrics indicate an upward trend.
Bitcoin Dogs is a new promising cryptocurrency that’s gearing up to be listed on the much anticipated exchange.
Bitcoin is ready to rally according to key indicators
Bitcoin reached a new local high at $60,100 recently, igniting renewed optimism in investors and long-term owners.
The cryptocurrency market is currently in a phase of consolidation, but its recent price movement has created a bullish mood.
This is a typical sign that the market has cooled down and volatility has decreased. This calm could be the beginning of a major price movement.
Bitcoin may be about to enter an upswing phase, according to key metrics. Ichimoku has shown a bullish cross-over, which traders interpret as a sign of an imminent price break.
The moving average convergence/divergence (MACD) indicator also crossed bullishly, further supporting the case for a potential rally. Analysts closely monitor the $60,600 mark, since a close over this level could signal the start of a bullish phase.
History suggests that Bitcoin could enter a parabolic phase in the near future, and a significant price increase is expected.
Whale activity and dormant circulation declining
The declining amount of Bitcoin in circulation is another factor that contributes to the positive sentiment surrounding Bitcoin.
Recent data shows that the circulation of five-year old coins has fallen to 104 BTC. This is one of the lowest values recorded in this year.
This is a sign that holders of long-term positions are taking profit or holding on to their position. The decline of dormant circulaiton often indicates a market stabilization, since long-term investors are less likely to be selling.
Whale transactions (defined as those involving BTC transactions worth at least $100,000) have also decreased in the last few days. The reduction of whale activity usually leads to lower volatility in prices, since it reduces the likelihood of price manipulations on a large scale.
Recent net inflows into US Bitcoin spot exchange-traded fund of more than $36 million have further strengthened the bullish mood, contributing to Bitcoin’s resistance near the $60,000.
Bitcoin Dogs: A new player that has strong fundamentals
Bitcoin Dogs (0DOG), a new cryptocurrency, is gaining attention.
Bitcoin Dogs, which raised more than $13 million through a successful token sale is ready to make its debut at the exchange on August 21.
The token is expected to be listed by August 21st, 2024 on Gate.io MEXC and Unisat.
Bitcoin Dogs is not only popular for its name, but for the solid foundations it has and its ambitious roadmap.
Developers plan to release a collection of 10,000 NFT tokens that can be purchased, traded, or held.
They also plan to launch a Bitcoin Club Marketplace, with 0.5% of the transaction fees going towards token holders.
Analysts believe Bitcoin Dogs will be successful on the long term, despite its potential volatility in the short-term following its listing. This is due to its close association with Bitcoin’s blockchain.
The conclusion of the article is:
Bitcoin Dogs and Bitcoin are both at pivotal points in their journeys. Bitcoin Dogs is about to be listed on an exchange, which marks a major milestone in the cryptocurrency’s journey.
The crypto market is abuzz as these developments unfold. It’s watching to see what these two players do in the future.
The post Bitcoin Dogs prepares to launch its new exchange may be updated as more information becomes available.
