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Chainlink (LINK) Price: Key Level Defense in Focus for Traders

Chainlink (LINK), a key player in the decentralized oracle network space, is currently navigating a market phase where its price is nearing a significant support level. Market analysts are closely watching this juncture, emphasizing that the defense of this level will be crucial in determining the short-term trajectory of LINK. Identifying the Key Support Level … Continue reading "Chainlink (LINK) Price: Key Level Defense in Focus for Traders" The post Chainlink (LINK) Price: Key Level Defense in Focus for Traders appeared first on Cryptoknowmics-Crypto News and Media Platform . CoinOtag

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Bitcoin Price Analysis: BTC Vaults Past $85,000, Eyes Possible Move To $90,000

Bitcoin (BTC) has continued its ascent past $85,000, with the price up 1.10% and trading around $85,585. The flagship cryptocurrency’s price action has remained relatively muted this week as it recovers after a substantial drop on Sunday. Analysts believe if BTC can hold key support levels and maintain its position above $85,000, a move past $90,000 and a return to $100,000 could be on the cards. Bitcoin BTC) Bulls Attempting To Kickstart The Week Bitcoin bulls are trying their best to build momentum and push the flagship cryptocurrency towards $90,000. Michael Saylor’s Strategy took advantage of BTC’s recent dip towards $80,000 to purchase an additional 3,459 Bitcoin for $285.5 million, taking the firm’s total holdings to 531,644 BTC . However, some investors have scaled back on the asset and trimmed their holdings. According to CoinShares, digital asset exchange-traded products (ETPs) registered a staggering $975 million in outflows last week, taking the total outflows since February to $7.2 billion, reversing almost all year-to-date inflows, which now sit at just $165 million. While BTC may have found support, analysts remain divided about a significant rally starting until the uncertainty around tariffs is addressed. Trade negotiations between the US and other countries could also impact the BTC price. Strategy Purchases 3,459 BTC For $286 Million Michael Saylor’s Strategy has announced the purchase of 3,459 BTC for approximately $285.8 million in cash at an average price of $82,618 per Bitcoin . The purchase takes the company’s BTC holdings to 531,644 BTC . The company disclosed its latest acquisition in an 8-K filing with the Securities and Exchange Commission (SEC). Strategy’s BTC holdings are now worth a staggering $45 billion, bought at an average cost of $67,556 per Bitcoin for around $35.9 billion, including fees and expenses. Strategy made the latest acquisition from the proceeds of its Class A common stock, MSTR. Strategy announced the sale of 959,712 MSTR shares worth $285.7 million last week. As of April 13, the firm has $2.08 billion worth of MSTR shares for issuance and sale. Strategy also announced it sold zero perpetual strike preferred stock last week. Strategy has $20.97 billion worth of STRK shares available for issuance. The STRK and STRK stocks are in addition to Strategy’s initial 21/21 plan, which plans for a total capital raise of $42 billion in equity offerings and fixed-income securities for Bitcoin acquisition. Strategy’s last BTC shopping spree saw the company acquire 22,048 BTC for $1.9 billion in cash. However, the company paused Bitcoin acquisitions after reporting an unrealized loss of $5.91 billion in Q1 after spending around $7.6 billion to purchase $80,715 BTC during the quarter at an average price of $94,922. Q1 saw BTC’s worst quarterly performance since 2018, with the flagship asset falling almost 12%. Despite the decline, Strategy still trades at a premium to its Bitcoin net asset value. Some investors have flagged concerns about the company’s premium to NAV valuation and its increasingly numerous Bitcoin buying sprees. However, analysts at Berstein believe that with debt under 13% and no payments due until 2028, the firm’s leverage is manageable. The research and brokerage firm also predicted Strategy’s Bitcoin holdings could double to 1 million BTC by the end of 2033. US Has Many Ways To Bolster Bitcoin Reserve: Bo Hines The US is exploring several avenues to bolster its Bitcoin reserve without using taxpayer dollars, according to Bo Hines, the executive director of the Trump administration’s crypto council. According to Hines, the government is looking at tariff revenues and revaluing its gold certificates to fund BTC purchases. Hines stated, “We`re looking at many creative ways, whether it be from tariffs, there are literally countless ways in which you can do this. Everything is on the table, and like we`ve said, we want as much as we can get, so we’re going to make sure that no stone is unturned.” The Bitcoin reserve will initially consist of assets forfeited during civil and criminal disputes. However, the executive order allows the government to develop budget-neutral strategies to acquire additional Bitcoin. “It`ll provide clarity on many aspects of this space, whether it be from tokenization to staking, all sorts of things. We`re moving at tech speed, it’s like we’re a startup in this building. We`ll continue moving this along quite quickly.” Ray Dalio Issues Stark Warning Billionaire hedge fund manager and Bitcoin enthusiast Ray Dalio has warned something significantly worse than a recession could hit the US. The Bridgewater Associates founder believes Donald Trump’s aggressive tariff strategy could lead to a “breakdown of the monetary order.” Dalio stated that unless Trump’s economic policies are properly handled, there could be an international conflict that would be highly disruptive to the global economy. BTC has been highly sensitive to Trump’s plan to impose tariffs on imports, with China the focus of the President’s ire. BTC nudged past $85,000, reaching the crucial level even as digital asset investment products registered their third consecutive week of declines, with $795 million in outflows registered last week. Myriad Markets has predicted a 61% chance BTC will be trading above $85,000 by the end of Wednesday. Meanwhile, Bloomberg Intelligence’s senior commodity strategist Mike McGlone stated that BTC’s YTD losses were in stark contrast with Gold’s 25% rally. “Bitcoin and its millions of crypto dependents may require a rising U.S. stock market for buoyancy. The Bitcoin/gold ratio could be shifting to a more profound track—simple reversion.” Bitcoin (BTC) Price Analysis Bitcoin (BTC) climbed above $86,000 during the current session as it continues its recovery, reaching its highest level in nearly two weeks. The recovery began after President Trump softened his stance on tariffs. While BTC’s recovery is encouraging, it faces the risk of forming a death cross, a bearish technical pattern that occurs when the 50-day moving average dips below the 200-day moving average. The flagship cryptocurrency plunged over 6% on Sunday, dropping below $80,000 and settling at $78,301. Bearish sentiment and volatility persisted on Monday as the price fell to a low of $74,389 and rebounded to move past $80,000 before settling at $79,164, ultimately registering an increase of 1.10%. BTC lost momentum on Tuesday, dropping almost 4% to $76,283. Markets rallied on Wednesday after President Trump announced a 90-day pause on tariffs. As a result, BTC surged over 8% to reclaim $80,000 and settle at $82,593. BTC’s rally lost momentum on Thursday as the price fell 3.63%, slipping below $80,000 and settling at $79,592. Source: TradingView Sentiment changed on Friday as BTC rose almost 5% to reclaim $80,000, move past the 20-day SMA, and settle at $83,370. Buyers retained control on Saturday as the price registered an increase of 2.41% to move past the 50-day SMA and $85,000 and settle at $85,378. However, BTC lost momentum on Sunday, dropping almost 2% to slip below $85,000 and the 50-day SMA and settle at $83,776. BTC recovered on Monday, registering an increase of 1.01% and moving to $84,625. The current session sees BTC up almost 2%, with the price back above $85,000 and the 50-day SMA and trading at $86,086. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice CoinOtag