Bitcoin News Today – Headlines for September 26

  • Bitcoin whale clusters indicate the digital currency could be in a short-term trend reversal
  • BTC whales expect the digital currency to surge higher in the near term
  • Bitcoin needs to hold gains over the $10,407 mark to remain in the bullish zone, Whalemap analysts

Bitcoin News Today – Bitcoin whale clusters have shown that the $10,407 mark has turned into a strong support zone, increasing the chances of a renewed bullish uptrend. BTC whale clusters show that the price of the digital currency could be in a near term trend reversal after it recovered over the $10,700 mark.

Whales Expect Bitcoin Price to Increase in the Near Term

Over the past two days, the price of the digital currency surged by about 6 percent, from $10,139 to $10,755, across top digital currency trading platforms. Whale clusters form when large investors accumulate BTC and do not move or spend their holdings for a very long time. This usually means that whales expect the price of the digital currency to surge in the near term.

An on-chain analysis company that tracks whale activities – Whalemap – identified $10,407, $10,570, and $10,667 as whale clusters. In the near term, those three pivotal points are likely to serve as potential support zone if the digital currency remains over the $10,700.

Bitcoin (BTC) Price Today – BTC / USD

NamePrice24H %

Bitcoin Would Remain in a Bullish Zone Provided It Holds Gains over $10,407

Analysts at Whalemap said that Bitcoin would remain in a bullish zone provided it holds gain over the $10,407 support level. According to the analysts, the trend indicators “bulls have won,” as market sentiments improve from the recent upsurge. They said:

“Feels like bulls have won. Many supports below at $10,407 and $10,570 and volume profile support at $10,500. Should not be going below $10,407 to stay bullish.”

On fascinating irregularity in the recent rally of Bitcoin is that it decoupled from gold, according to a recent report by Cointelegraph. While the price of gold plunged slightly by 0.32 percent over the past day, the price of Bitcoin surged over $10,700.

An on-chain analyst – Willy Woo – said that for BTC to decouple, it means its momentum is gaining strength. Woo said:

“Bitcoin will decouple from traditional markets soon, but driven by its internal adoption s-curve (think startup-style growth) rather than changes in perceptions as a hedging instrument by traditional investors.”

What Are the Expectations of BTC Traders?

Edward Morra – a digital currency trader – believes that the price of Bitcoin must move over the $10,830 mark to confirm a bullish continuation. If the price of the digital currency is rejected around that level and it plunges below the $10,500 mark, the $9,800 to $10,830 range could cause Bitcoin to stagnate over a very long period. The trader said:

“Below daily resistance, above daily support = Ranging market. Price currently at a bearish throwback at $10,830. If we move above, expect a re-test of daily resistance at $11,200. Not interested in trading chop range – Wait for expansion. Support = $9,800 – $10,100.”

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.