Bitcoin Breaks Above $24k – What’s Next For The King Coin?

Bitcoin was racing the other day, and at the moment of writing this article, BTC is trading in the green, and the king coin is priced at $24,551. Check out the latest predicitons about the price of Bitcoin.

The online publication Blockworks notes the fact that according to data from Chainalysis, BTC’s total flows recorded its highest one-day increase in over 70 days, surging from 85,800 BTC to around 139,400 BTC.

It’s also been revealed the fact that the data from crypto intelligence firm IntoTheBlock show, of roughly 29.2 million wallet addresses holding the asset, around 66% are in the money. Just 22% of those addresses are posting losses.

“A majority bought in at an average of $18,800 — good for an increase of around 30% to bitcoin’s current floor,” according to the same online publication.

They also note the fact that the trade volume across all assets rose to $120 billion — the highest point in more than six days — data provided by TheTie show.

Bitcoin is reportedly about to start a new leg up.

According to the latest reports, it seems that a popular crypto strategist believes that Bitcoin (BTC) is gearing up for a fresh rally. This could happen after the king crypto lost over 10% of its value over the past weeks.

Analyst Jason Pizzino said recently that he believes Bitcoin is still bullish, but he thinks the top crypto by market cap can go lower in the short term.

“These are the key levels that I’m looking out for in terms of dips: $20,700, $19,800 and then we don’t really want to see the market go any lower than $18,600. If you really want to get that far down, probably these lows here at $18,000. If it does go lower than this point, the structure changes and this is no longer the start of a bull market.”