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As Bitcoin (BTC) continues to trade in the low $110,000 range, a key on-chain indicator has flipped bullish, show signs of an upcoming price rally that could propel the top digital asset to new all-time highs (ATH) in the near term. Bitcoinâs 600,000 Transactions Threshold Takes Center Stage According to a CryptoQuant Quicktake post by contributor Ibrahim Cosar, an important correlation between BTC price and the total number of transactions over time stands out. Related Reading: Bitcoin Cycle Confluence Hints No Bottom Before October â What This Means The analyst shared the following chart to highlight the relationship between Bitcoinâs price and the total number of transactions. Notably, whenever the total transaction count surges above the 600,000 level â or even approaches it â BTCâs price tends to initiate an upward move. The above chart shows three previous instances in 2025 when BTCâs total transaction count climbed beyond 600,000, with an ensuing price appreciation. In May, there was a sharp price increase shortly following Bitcoinâs transaction count jump. Similar combinations of transaction count increase and price action surge were witnessed in August and early September. The CryptoQuant analyst remarked that this pattern has become particularly evident since Q4 2024. Cosar added: Iâve been studying on-chain data for a long time, but itâs rare to see such a clear pattern. The 600K transaction threshold seems to act almost like a signal that triggers Bitcoinâs âprice engine.â This is my personal discovery, and the chart confirms it quite clearly. The analyst stated that rising transaction activity on the network is a leading indicator of Bitcoinâs underlying usage and demand. As the number of transactions on the Bitcoin network rises, the network becomes more vibrant and active. The growing usage of the Bitcoin network creates a natural buying pressure on Bitcoinâs price, adding fuel to the cryptocurrencyâs bullish momentum. According to Cosar, the 600,000 transaction level is an âactivity explosionâ threshold that leads to a âprice explosion.â That said, the analyst cautioned that no single factor can completely influence BTCâs price, as it is dependent on a mix of various factors, including macroeconomic backdrop, regulations, and trading activity. Still, the significance of an on-chain indicator with such a strong correlation with BTCâs price should not be ignored. If the total transaction count rises past the 600,000 level again, expect BTC to hit a new record high. Will BTC Fall Below $100,000? Bitcoinâs inability to decisively break through its current ATH of $124,128, recorded on August 14, has bulls worried about the digital assetâs fading momentum. The cryptocurrency is currently at its most oversold level since April 2025. Related Reading: Bitcoin Tipped To Peak In 2026 â Hereâs Why From a technical standpoint, BTC has formed a bearish evening star pattern on the weekly chart, raising the possibilities of a price dip below $100,000. At press time, BTC trades at $114,117, up 3.8% in the past 24 hours. Featured image from Unsplash, charts from CryptoQuant and TradingView.com
Whatâs Next For The Bitcoin Price? Expert Forecasts Potential 20% Price Crash Ahead
The Bitcoin price opened Monday with a slight recovery, reclaiming the $113,000 mark after a dip that brought the price down to $109,000âa level that has proven to be significant support for the top cryptocurrency. Despite this temporary bounce, one expert warns of further challenges ahead for bullish investors. Warns Of Further Bitcoin Price Drops In a recent post on social media platform X (formerly Twitter), Doctor Profit expressed confidence in his market analysis, indicating that BTC is on track to reach his projected target range between $90,000 to $94,000, meaning an additional 20% drop for the Bitcoin price. He posited that the cryptocurrency is poised to move toward a new short-term downside target at approximately $106,000. According to his assessment, a minor bounce in this area could attract additional liquidity before the market potentially moves lower. Related Reading: Everyoneâs Wrong About XRP: Hereâs Why, Says Top Analyst Doctor Profit also paints a bleak picture of the broader economic landscape, highlighting troubling signs such as Japanâs 10-Year Bond Yield reaching its highest level since the Global Financial Crisis. He notes that the repo-to-reserves ratio is approaching 99%, a metric that hints at funding stress and margin strain, leading to forced selling. While he acknowledges that a surge in liquidity from central banks could provide a bullish pivot, he remains skeptical given the current market conditions. The analyst also referenced a range of indicators and charts he has shared since August, emphasizing that many key market charts, including the Dow Jones, are at significant resistance levels, some of which have formed over a century. He pointed out the record levels of alleged insider selling witnessed in recent weeks, alongside a surge in retail investor inflows, suggesting a disconnect between retail enthusiasm and the actions of larger players in the market. October Could Signal Recovery In contrast to Doctor Profitâs cautious stance, market expert Timothy Peterson offers a more optimistic outlook for the Bitcoin price trajectory in the months to come. Peterson believes that October could bring a positive shift for Bitcoin, drawing on historical trends and current market dynamics. Related Reading: Ethereum Outflows Hit Spot Exchanges Again: Bullish Signal Or Neutral Flows? As recently reported by NewsBTC, Peterson has outlined two potential bullish scenarios that he believes remain for the cryptocurrency: one forecasting a rise to as high as $240,000, while another more conservative estimate suggests a surge to $160,000. As the month of September draws to a close, Doctor Profitâs prediction that Bitcoin would trade below $100,000 could still play out. With only a 9% decline needed to breach the $100,000 threshold, the outlook remains uncertain. Featured image from DALL-E, chart from TradingView.com
Whatâs Next For The Bitcoin Price? Expert Forecasts Potential 20% Price Crash Ahead
The Bitcoin price opened Monday with a slight recovery, reclaiming the $113,000 mark after a dip that brought the price down to $109,000âa level that has proven to be significant support for the top cryptocurrency. Despite this temporary bounce, one expert warns of further challenges ahead for bullish investors. Warns Of Further Bitcoin Price Drops In a recent post on social media platform X (formerly Twitter), Doctor Profit expressed confidence in his market analysis, indicating that BTC is on track to reach his projected target range between $90,000 to $94,000, meaning an additional 20% drop for the Bitcoin price. He posited that the cryptocurrency is poised to move toward a new short-term downside target at approximately $106,000. According to his assessment, a minor bounce in this area could attract additional liquidity before the market potentially moves lower. Related Reading: Everyoneâs Wrong About XRP: Hereâs Why, Says Top Analyst Doctor Profit also paints a bleak picture of the broader economic landscape, highlighting troubling signs such as Japanâs 10-Year Bond Yield reaching its highest level since the Global Financial Crisis. He notes that the repo-to-reserves ratio is approaching 99%, a metric that hints at funding stress and margin strain, leading to forced selling. While he acknowledges that a surge in liquidity from central banks could provide a bullish pivot, he remains skeptical given the current market conditions. The analyst also referenced a range of indicators and charts he has shared since August, emphasizing that many key market charts, including the Dow Jones, are at significant resistance levels, some of which have formed over a century. He pointed out the record levels of alleged insider selling witnessed in recent weeks, alongside a surge in retail investor inflows, suggesting a disconnect between retail enthusiasm and the actions of larger players in the market. October Could Signal Recovery In contrast to Doctor Profitâs cautious stance, market expert Timothy Peterson offers a more optimistic outlook for the Bitcoin price trajectory in the months to come. Peterson believes that October could bring a positive shift for Bitcoin, drawing on historical trends and current market dynamics. Related Reading: Ethereum Outflows Hit Spot Exchanges Again: Bullish Signal Or Neutral Flows? As recently reported by NewsBTC, Peterson has outlined two potential bullish scenarios that he believes remain for the cryptocurrency: one forecasting a rise to as high as $240,000, while another more conservative estimate suggests a surge to $160,000. As the month of September draws to a close, Doctor Profitâs prediction that Bitcoin would trade below $100,000 could still play out. With only a 9% decline needed to breach the $100,000 threshold, the outlook remains uncertain. Featured image from DALL-E, chart from TradingView.com