Crypto: Price Predictions 2/25: Btc, Eth, Xrp, Bnb, Sol, Doge, Bch, Ada,...

Bitcoin bulls rushed toward $70,000, and ETH reclaimed $2,000 following a drastic improvement in investor sentiment, but will the gains hold?

Bitcoin bulls have pushed the price above $69,000, signaling solid dip buying at lower levels.

Several major altcoins have turned up sharply, suggesting that selling pressure is reducing.

Bitcoin (BTC) bulls purchased Tuesday’s dip and are attempting to sustain the price above $69,000 on Wednesday. According to SoSoValue data, BTC exchange-traded funds recorded net inflows of $257.7 million on Tuesday, the largest inflows since Feb. 6. That suggests investors are viewing the dips near $60,000 as a buying opportunity.

Santiment said in a post on X that BTC’s correlation with stocks has broken down in the past six months. The S&P 500 rose 7% during the period, while BTC fell 43%. However, the on-chain data provider added that the disconnection is unlikely to stay forever. If BTC follows its historical pattern of tracking equities during economic expansions, then “it may have significant room to catch up.”

Not everyone is bullish on BTC’s prospects in the short term. Glassnode said in a post on X that BTC’s realized profit/loss ratio (90-day moving average) slipped below 1. Historically, breaks below 1 have resulted in at least six months of loss realization before the level was reclaimed.

Could BTC and select major altcoins break above their overhead resistance levels? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

BTC has risen sharply from the $62,510 level on Tuesday, indicating that the bulls are vigorously defending the $60,000 level.

Buyers will attempt to thrust the Bitcoin price above the 20-day exponential moving average ($69,375). If they succeed, the BTC/USDT pair may rally to the breakdown level of $74,508, where the bears are again expected to mount a strong defense.

Sellers will have to successfully defend the 20-day EMA if they want to retain the advantage. If the price turns down sharply from the 20-day EMA, the $60,000 support may be at risk of breaking down. If that happens, the pair may plummet to $52,500.

Source: CoinTelegraph