{"id":648308,"date":"2024-10-16T18:00:36","date_gmt":"2024-10-16T18:00:36","guid":{"rendered":"https:\/\/www.wncen.com\/?p=648308"},"modified":"2024-10-16T11:57:47","modified_gmt":"2024-10-16T11:57:47","slug":"bitcoin-price-can-port-to-86600","status":"publish","type":"post","link":"https:\/\/www.wncen.com\/news\/bitcoin\/bitcoin-price-can-port-to-86600\/","title":{"rendered":"Crypto Analyst Says Bitcoin Price Can Port To $86,600 If It Breaks This Level"},"content":{"rendered":"

Crypto analyst Ali Martinez<\/span><\/a> has revealed how the Bitcoin price can rise to as high as $86,600, which would mark a new <\/span>all-time high (ATH)<\/span><\/a> for the flagship crypto. This comes amid BTC\u2019s impressive price rebound, which has brought renewed optimism that the next leg of the bull run is almost here.\u00a0<\/span><\/p>\n

Bitcoin Price Could Rise To $86,600 If It Breaks This Level<\/h2>\n

Martinez mentioned in an X post that the Bitcoin price could rise to around $86,600 if it can break past $67,400. He indicated that this price target could mark the next potential <\/span>local top<\/span><\/a> for the flagship crypto. Bitcoin rose past $67,400 and climbed to almost $68,000 on October 15, its highest level since July.\u00a0<\/span><\/p>\n

Related Reading: Shiba Inu Price Flashes Historical Bull Flag, Here\u2019s What Happened Last Time<\/a><\/div>\n
\"Bitcoin
Source: CryptoQuant<\/figcaption><\/figure>\n

Although the Bitcoin price has retraced, there is the belief that it could again retest the $67,400 price target and successfully break above. This could ultimately pave the way for BTC to reach a new ATH and climb to $86,600, as <\/span>Ali Martinez<\/span><\/a> predicts. Bitcoin currently boasts a bullish outlook from a technical and fundamentals analysis standpoint.\u00a0<\/span><\/p>\n

The Bitcoin price’s recent rally led to a break above its 200-day moving average (MA), which was around $65,844. <\/span>Martinez noted earlier<\/span><\/a> that a break above this moving average has always led to parabolic bull runs. Therefore, a break above this 200-day MA indicates that the flagship crypto is well primed for a massive move to the upside.\u00a0<\/span><\/p>\n

The crypto analyst also recently revealed that <\/span>Bitcoin\u2019s open interest<\/span><\/a> across all exchanges just hit a new ATH of $19.75 billion. He mentioned that a spike in this metric often signals big price moves ahead, with more capital on the line.<\/span><\/p>\n

\"BTC
Source: CryptoQuant<\/figcaption><\/figure>\n

Indeed, Bitcoin investors look to be allocating more capital to the flagship crypto as Martinez revealed that over 400,000 BTC ($24 billion) had been withdrawn from exchanges in the past eight months.\u00a0<\/span><\/p>\n

\"BTC
Source: CryptoQuant<\/figcaption><\/figure>\n

Cryptoquant\u2019s CEO Ki Young Ju also suggested that there has been an increased demand for the flagship crypto while <\/span>stating<\/span><\/a> that Bitcoin\u2019s apparent demand is back. This metric guages the difference BTC mined and the supply that has been inactive for a while.\u00a0<\/span><\/p>\n

\"Bitcoin
Source: CryptoQuant<\/figcaption><\/figure>\n

When The Rise To $86,000 Could Happen<\/h2>\n

Martinez didn\u2019t provide a timeline for when the rise to $86,000 could happen. However, crypto analyst <\/span>Mikybull Crypto<\/span><\/a> has provided insights into when the Bitcoin price could enjoy this parabolic rally. The analyst stated in an <\/span>X post<\/span><\/a> that the wave 5 expansion is set to begin anytime soon.\u00a0\u00a0<\/span><\/p>\n

Related Reading: XRP Price Growth: Analyst Breaks Down The Movements And Why It\u2019s So<\/a><\/div>\n
\"BTC
Source: CryptoQuant<\/figcaption><\/figure>\n

He added that the 22nd of this month of this month is probably when the \u201creal fun\u201d will start. His accompanying chart showed that wave 5 expansion could send the <\/span>Bitcoin price to around $90,000<\/span><\/a>, even higher than Martinez predicts.\u00a0<\/span><\/p>\n

At the time of writing, Bitcoin is trading at around $67,000, up over 2% in the last 24 hours, according to <\/span>data<\/span><\/a> from CoinMarketCap.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC price breaks $68,000 | Source: BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Crypto analyst Ali Martinez has revealed how the Bitcoin price can rise to as high as $86,600, which would mark a new all-time high (ATH) for the flagship crypto. This comes amid BTC\u2019s impressive price rebound, which has brought renewed optimism that the next leg of the bull run is almost here.\u00a0 Bitcoin Price Could Rise To $86,600 If It Breaks This Level Martinez mentioned in an X post that the Bitcoin price could rise to around $86,600 if it can break past $67,400. He indicated that this price target could mark the next potential local top for the flagship crypto. Bitcoin rose past $67,400 and climbed to almost $68,000 on October 15, its highest level since July.\u00a0 Related Reading: Shiba Inu Price Flashes Historical Bull Flag, Here\u2019s What Happened Last Time Although the Bitcoin price has retraced, there is the belief that it could again retest the $67,400 price target and successfully break above. This could ultimately pave the way for BTC to reach a new ATH and climb to $86,600, as Ali Martinez predicts. Bitcoin currently boasts a bullish outlook from a technical and fundamentals analysis standpoint.\u00a0 The Bitcoin price’s recent rally led to a break above its 200-day moving average (MA), which was around $65,844. Martinez noted earlier that a break above this moving average has always led to parabolic bull runs. Therefore, a break above this 200-day MA indicates that the flagship crypto is well primed for a massive move to the upside.\u00a0 The crypto analyst also recently revealed that Bitcoin\u2019s open interest across all exchanges just hit a new ATH of $19.75 billion. He mentioned that a spike in this metric often signals big price moves ahead, with more capital on the line. Indeed, Bitcoin investors look to be allocating more capital to the flagship crypto as Martinez revealed that over 400,000 BTC ($24 billion) had been withdrawn from exchanges in the past eight months.\u00a0 Cryptoquant\u2019s CEO Ki Young Ju also suggested that there has been an increased demand for the flagship crypto while stating that Bitcoin\u2019s apparent demand is back. This metric guages the difference BTC mined and the supply that has been inactive for a while.\u00a0 When The Rise To $86,000 Could Happen Martinez didn\u2019t provide a timeline for when the rise to $86,000 could happen. However, crypto analyst Mikybull Crypto has provided insights into when the Bitcoin price could enjoy this parabolic rally. The analyst stated in an X post that the wave 5 expansion is set to begin anytime soon.\u00a0\u00a0 Related Reading: XRP Price Growth: Analyst Breaks Down The Movements And Why It\u2019s So He added that the 22nd of this month of this month is probably when the \u201creal fun\u201d will start. His accompanying chart showed that wave 5 expansion could send the Bitcoin price to around $90,000, even higher than Martinez predicts.\u00a0 At the time of writing, Bitcoin is trading at around $67,000, up over 2% in the last 24 hours, according to data from CoinMarketCap.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":648324,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-648308","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\nCrypto Analyst Says Bitcoin Price Can Port To $86,600 If It Breaks This Level<\/title>\n<meta name=\"description\" content=\"Crypto analyst Ali Martinez has revealed how the Bitcoin price can rise to as high as $86,600, which would mark a new all-time high (ATH).\" \/>\n<meta name=\"robots\" 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Matherson","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.wncen.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3d21ae3d2529ce2df4466b61ea80b449?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3d21ae3d2529ce2df4466b61ea80b449?s=96&d=mm&r=g","caption":"Scott Matherson"},"description":"Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/www.wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Analyst Says Bitcoin Price Can Port To $86,600 If It Breaks This Level","url":"http:\/\/www.wncen.com\/news\/bitcoin\/bitcoin-price-can-port-to-86600\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.wncen.com\/news\/bitcoin\/bitcoin-price-can-port-to-86600\/"},"thumbnailUrl":"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/10\/Bitcoin_48622f.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/10\/Bitcoin_48622f.jpeg?fit=1792%2C1024"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/www.wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["analyst","bitcoin","bitcoin news","bitcoin price","btc","btc news","btc price","btcusd","btcusdt","crypto","crypto analyst","crypto news"],"dateCreated":"2024-10-16T18:00:36Z","datePublished":"2024-10-16T18:00:36Z","dateModified":"2024-10-16T18:00:36Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Analyst Says Bitcoin Price Can Port To $86,600 If It Breaks This Level\",\"url\":\"http:\\\/\\\/www.wncen.com\\\/news\\\/bitcoin\\\/bitcoin-price-can-port-to-86600\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.wncen.com\\\/news\\\/bitcoin\\\/bitcoin-price-can-port-to-86600\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/Bitcoin_48622f.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/Bitcoin_48622f.jpeg?fit=1792%2C1024\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"analyst\",\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\",\"crypto\",\"crypto analyst\",\"crypto news\"],\"dateCreated\":\"2024-10-16T18:00:36Z\",\"datePublished\":\"2024-10-16T18:00:36Z\",\"dateModified\":\"2024-10-16T18:00:36Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/10\/Bitcoin_48622f.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts\/648308"}],"collection":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/comments?post=648308"}],"version-history":[{"count":1,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts\/648308\/revisions"}],"predecessor-version":[{"id":648325,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts\/648308\/revisions\/648325"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/media\/648324"}],"wp:attachment":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/media?parent=648308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/categories?post=648308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/tags?post=648308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}