When Will Bitcoin Bottom Out? Pi Cycle Bottom Says It Will Happen on July 9

Many cryptocurrency enthusiasts have heard of the Pi Cycle Top indicator, which has "magically" predicted the peaks of several previous bull markets. However, few know that there is also its opposite, Pi Cycle Bottom, which also has some track record in trying to estimate the bottom of a bear market.

Timeline of Bitcoin

On-chain data shows Bitcoin whales are transferring large amounts to derivatives exchanges right now, a signal that more volatility could be ahead for the crypto. Bitcoin All Exchanges To Derivatives Flow Continues To Show High Value As explained by an analyst in a CryptoQuant post, BTC whale activity on derivatives exchanges still seems to be high.

Bitcoin (CRYPTO: BTC) popped up over Thursday's 24-hour session high briefly on Friday, but a lack of bullish momentum into the move caused the crypto to fall lower, rejecting from the eight-day exponential moving average. The crypto has been trading in a horizontal pattern over the last 11 trading days after plunging 28% between June 7 and June 13.

According to Changpeng Zhao, CEO of Binance, the world's largest cryptocurrency exchange, the price of Bitcoin (BTC) could remain below its all-time high of $69,000 for at least two years.

Bitcoin has been struggling in recent times and even with the recovery, continues to find it hard to hold above the $20,000 level. With the crash has also come a significant decline in investor sentiment which has reached some of its lowest points in recent years.

BTC tested $21K as Ripple exploded by 14% in the past 24 hours while other altcoins like ATOM, OKX, AVAX, and NEAR all saw some impressive gains as well so let's read more today in our Bitcoin latest news. After the recent volatility, BTC tested $21K and spiked higher while other altcoins also charted some

Bitcoin and Ethereum rallied although support for the largest coins by market cap “may begin to weaken”, analysts said. Bitcoin inched higher, gaining 1.75% and is currently changing hands at US$20,892.

Bitcoin and Ethereum jumped slightly above key support levels as the crypto market continued to plateau on low consumer confidence. The leading digital currencies advanced 3.8% and 4.0% to US$30,530 and US$2,053 but remained close to the levels of the past few weeks.

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News just in: experts pick three top crypto projects that could make you money when we finally enter the next bull run. The last few weeks have been difficult in the crypto world. Most onlookers agree that we are now in a proper bear market cycle. But nobody is sure how long this might last, …

The volatility that has become synonymous with the crypto industry hasn't deterred institutions from participating in it, as hedge funds investing in crypto are at an all-time high, according to PwC's 2022 Global Crypto Hedge Fund Report. The post Crypto hedge funds are bullish on Bitcoin and knee-deep in DeFi appeared first on CryptoSlate.