Recession Fears vs. Bitcoin Growth: Are Hodlers Ready for What’s Ahead?
- Bitcoin nears $70,000, breaking the upper limit of its bearish channel since March, following a previous $74,000 high.
- Potential risks include U.S. elections, geopolitical tensions, and recession fears impacting Bitcoin’s demand and growth in coming weeks.
Bitcoin (BTC) is nearing the $70,000 mark, reaching levels not seen since July this year. This recent price movement places Bitcoin at the upper limit of a downward channel that has held since March, following a record high of nearly $74,000. Analysts link this rise to the strong performance of Bitcoin ETFs last week, with net capital inflows close to $2 billion, according to ETHNews .
Nate Geraci, president of ETF Store, described the ETF performance as “massive.” Over the weekend, Bitcoin buying on exchanges and over-the-counter (OTC) markets continued to drive prices upward, even without active ETF trading. According to the support and resistance theory, breaking this upper channel limit could signal the end of the ongoing bearish trend.
Financial analyst Keith Alan notes that “whales,” or wallets holding over 1,000 BTC, are watching for a potential resistance-to-support flip at $70,000 and $71,900. Alan points out that these investors are closely linked to the strength of the technical resistance at these levels.
Meanwhile, professional trader Michael van de Poppe believes Bitcoin is approaching a new all-time high. He suggests that a breakthrough could occur soon, although he is uncertain whether it will be this month or next. Van de Poppe views any potential pullback as a buying opportunity.
Despite optimism, three risks could limit Bitcoin’s rise in the coming weeks. First, the U.S. presidential election results could influence the market. Kamala Harris , with a more moderate stance on cryptocurrencies, may create uncertainty, while a Donald Trump victory could boost Bitcoin demand, given his pro-digital industry stance.
Second, rising geopolitical tensions in key regions such as the Middle East, Russia , and Ukraine may push investors toward traditional safe-haven assets like gold, potentially slowing Bitcoin’s growth, as it remains a risk asset due to high volatility.
Lastly, global recession fears persist, following inflation data in the U.S. that exceeded expectations. If signs of economic slowdown increase, demand for risk assets like Bitcoin could weaken. Still, van de Poppe maintains that long-term bullish sentiment prevails, suggesting that any drop in Bitcoin’s price may present an opportunity to accumulate more BTC for hodlers.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ethereum Poised for Explosive Breakout After Six Weeks of Consolidation
ETH has traded in a tight 2% range for six weeks, setting up for a strong breakout that could ignite a sharp rally.Six Weeks of Stagnation Turns into Bullish SetupWhy This Consolidation Is DifferentWhat to Watch Before the Pop

SOL Correction Nears End as Bulls Target $220-$250
Solana correction phase is ending; analysts eye a bullish breakout toward $220–$250 in the coming wave.SOL Price Correction Nears CompletionTarget Zone: $220–$250 for the Next WaveWhat to Watch Moving Forward

South Korea’s FSC Unveils Roadmap for Spot Crypto ETFs and Won‑Based Stablecoins
FSC eyes approval of spot crypto ETFs and easing of won-based stablecoin rules in H2 2025.South Korea Eyes Spot Crypto ETFs by Late 2025Korean Won-Based Stablecoins to See Regulatory ReliefA Broader Shift in Crypto Policy

Can Trader 0xb8b9 Save His $2M Bitcoin Bet?
Trader 0xb8b9, with a perfect 100% win rate, now faces $2M in unrealized losses. Will he protect his streak or risk it all?The Trader with a Flawless Record$2 Million in the Red: Will the Streak Break?Market Watch: Will Crypto Rebound in Time?Alt Texts for Article Images

Trending news
MoreCrypto prices
More








