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Traders Worry About Bitcoin Amid Economic News

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by Giorgi Kostiuk

a day ago

As Bitcoin shows growth, concerns about a subsequent decline continue to emerge.

Bitcoin Situation

Currently, Bitcoin (BTC) is trading at $97,667, capturing daily highs. However, since mid-December, significant fluctuations have impacted altcoins. Despite the imminent U.S. market opening, BTC hasn't capitalized on the SP500 index’s all-time high range.

Bitcoin is still holding above the trend line we broke in January. It has surpassed local lows and retested the 100-day EMA while maintaining the lowest ranges—this is not a bad outlook.Analyst Jelle

Expert Analyses and Predictions

Daan Crypto Trades emphasizes the importance of reclaiming the $98,000 mark. Although the current price is just $300 away, further gains may be necessary till concerns over another decline are alleviated.

BTC has been consolidating in this channel for much of February. Breaking this low timeframe trend at around $98K is crucial and it is currently facing resistance.Daan Crypto Trades

XRP Coin Predictions

XRP Coin started the day with a 5% increase at $2.74, leading gains among major altcoins. Analyst Ali Chart suggests potential for XRP to return above the $3 mark if it breaks out from the ascending triangle, predicting a 26% price movement.

XRP is preparing for a breakout from this ascending triangle that could trigger a 26% price movement!Ali Chart

The cryptocurrency market continues to present significant moments for traders, requiring close attention amid global economic trends.

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