John Kiguru 28. June 2024 3 Mins Read 0.7% in the past 24 hours. The market cap stands at $1.2 trillion, which positions BTC well above the critical $54,000 level that Woo mentioned. Also, the trading volume increased by 3.5% to over $22 billion. Woo’s analysis comes during heightened volatility in the crypto market. Investors are closely monitoring technical indicators and macroeconomic trends to gauge the future direction of Bitcoin. The analyst insights provide a valuable perspective for both short-term traders and long-term holders as they navigate the complexities of the crypto market. Sentiments for Bitcoin It is worth mentioning that Woo is just one amongst other analysts who have shared a bullish sentiment for Bitcoin’s price. Echoing earlier coverage by Crypto News Flash , crypto analyst Ali Martinez claims Bitcoin could see a price rally of over 60%. The analyst’s forecast is based on Bitcoin hitting the “oversold territory” three times in the past two years. On the other hand, Benjamin Cowen, another popular crypto analyst, claims recent fluctuations in gold’s price may portend a decline in the value of BTC. As formerly reported by Crypto News Flash, Cowen compares this to an event in 2019, when the rise in Bitcoin stopped just after gold recorded highs. Recommended for you: