Bitcoin and Ethereum are both attempting to tackle major price boundaries, but suspicions over the cause of the rally remain.
Bitcoin (BTC) headed back toward $29,000 into April 5 as data showed whale orders guiding price action.
Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it hit $28,780 on Bitstamp.
The pair continued a rebound from one-week lows under $27,300 at the start of the week courtesy of rumors around the Binance crypto exchange and its CEO, Changpeng “CZ” Zhao.
After reclaiming $28,000, Bitcoin saw fresh momentum as Binance order book data showed large-volume “whale” traders buying.
$BTC Binance Spot
— Skew Δ (@52kskew) April 5, 2023
Keep an eye on the $28K area, those stacked buy walls will either support market buying here or will be pulled later.
Supply is consistently being filled in these squeezes.
6K BTC bought in past 1H candle pic.twitter.com/Dv7YzggCDu
This was not all as it seemed for bulls, monitoring resource Material Indicators nonetheless warned, as those same traders could be artificially pushing the market higher in order to sell closer to $30,000.
“Likely a choreographed attempt to push the distribution range up in the short term,” part of the accompanying commentary stated.
“Personally still treating this as #BearMarketRally until proven otherwise.”
A subsequent print of the order book with liquidity levels showed the spot price eating into a dense cloud of asks, potentially stranding latecomers choosing to go long BTC believing that the upside may continue.
Others were more hopeful that $30,000 could see a genuine challenge after being absent from the chart for nearly a year.
Among them was Michaël van de Poppe, founder and CEO of trading firm Eight.
“Bitcoin looks eager to break the crucial barrier at $30K, while altcoins are also waking up,” he told Twitter followers on the day.
“If Bitcoin makes that breakout, we'll probably see significant breakout across the board on altcoins as confidence comes back in the markets.”
Related: Crypto winter can take a toll on hodlers’ mental health
Analytics account IncomeSharks was similarly optimistic when it came to altcoins, in particular, opting to swap BTC exposure for alternatives at current prices.
“Been waiting all year for this,” it announced.
“If we can hold this and keep pushing up get ready to not care what Bitcoin does and make multiple X’s on alts. Part of me selling some $BTC at $28,000 is me wanting more exposure to alts.”
The day prior, popular trader Crypto Tony had agreed that liquidity was “moving” away from Bitcoin on short timeframes.
With that, the largest altcoin Ether (ETH) looked primed for an attack on $2,000 at the time of writing, having gained nearly 5% in the past 24 hours.
Related: BTC price double top forming? 5 things to know in Bitcoin this week
Analyzing moves on ETH/USD, now at eight-month highs, trading suite DecenTrader noted that funding rates had already been hinting at the upside to come.
#Ethereum Funding Rate functioning perfect as a leading indicator for the multiple moves higher. https://t.co/zypZt1kq5M pic.twitter.com/oYadIkIN44
— Decentrader (@decentrader) April 5, 2023
“The goal now is for Ethereum to now stay above the range high at $1,840,” Crypto Tony added in his own ETH/USD analysis.
“If we begin closing back below, the we have a deviation and we know what that means.”
The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
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12.10.25 01:12
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robertalfred175
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14.10.25 08:46
robertalfred175
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14.10.25 08:46
robertalfred175
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15.10.25 18:07
crypto
Cryptocurrency's digital realm presents many opportunities, but it also conceals complex frauds. It is quite painful to lose your cryptocurrency to scam. You can feel harassed and lost as a result. If you have been the victim of a cryptocurrency scam, this guide explains what to do ASAP. Following these procedures will help you avoid further issues or get your money back. Communication with Marie ([email protected] and WhatsApp: +1 7127594675) can make all the difference.
15.10.25 21:52
harristhomas7376
"In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1
15.10.25 21:52
harristhomas7376
"In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1