{"id":90934,"date":"2024-05-17T00:50:40","date_gmt":"2024-05-17T04:50:40","guid":{"rendered":"https:\/\/ifintechworld.com\/?p=90934"},"modified":"2024-05-17T00:50:41","modified_gmt":"2024-05-17T04:50:41","slug":"btc-above-65k-amid-100m-andrew-tate-investment-and-supply-lows","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=90934","title":{"rendered":"BTC Above $65K Amid $100M Andrew Tate Investment and Supply Lows"},"content":{"rendered":"<div>\n<div class=\"row mb-20\">\n<div class=\"col-12 col-lg-9 col-xl-8\">\n<div class=\"author-section\">\n<div class=\"author-info\">\n<p>\n                                                            <span>Last updated:<\/span><br \/>\n                                                        <time datetime=\"2024-05-17T00:13:22+00:00\"><br \/>\n                              May 16, 2024 20:13 EDT                            <\/time><br \/>\n                                                             <span class=\"date-v-line\">|<\/span> 4 min read                                                    <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<figure id=\"attachment_215038\" aria-describedby=\"caption-attachment-215038\" style=\"width: 1280px\" class=\"wp-caption aligncenter\"><figcaption id=\"caption-attachment-215038\" class=\"wp-caption-text\">Bitcoin Price Prediction<\/figcaption><\/figure>\n<p>Bitcoin is trading just above $65,000, experiencing a 1.25% correction after a recent surge. This upward movement was driven by weaker US CPI data, dovish FOMC sentiment, and a break from a symmetrical triangle pattern.<\/p>\n<p>Despite this slight bearish correction, the Bitcoin price prediction remains bullish, especially with Andrew Tate\u2019s announcement to invest $100 million in Bitcoin and decreasing BTC supply on exchanges.<\/p>\n<h2><span data-preserver-spaces=\"true\">Bitcoin Supply on Exchanges Hits New Lows Amid Bullish Market<\/span><\/h2>\n<p><span class=\"replacer\"><\/span><br \/><span data-preserver-spaces=\"true\">Bitcoin (BTC) supply on centralized exchanges (CEX) has dropped to new lows following strong market activity over the past 48 hours. According to on-chain analytics firm Glassnode, the Bitcoin supply on exchanges is now at 1,728,782 BTC, reflecting a significant decrease as bullish sentiment grows.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In the last 24 hours, 23,654 BTC exited exchanges, with weekly outflows reaching 19,859 BTC. Monthly flows were also down, with only 9,509 BTC moving. This reduction suggests increasing bullish pressure as traders move their assets off exchanges.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">Key Points:<\/span><\/strong><\/p>\n<ul>\n<li><span data-preserver-spaces=\"true\">Binance saw 7,155 BTC outflows, while Coinbase Pro recorded 16,075 BTC outflows.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Mass migration from exchanges indicates long-term holding and bullish market sentiment.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Positive CPI data and new institutional spot ETF disclosures have fueled recent market activity.<\/span><\/li>\n<\/ul>\n<p><span data-preserver-spaces=\"true\">This week, several traditional finance firms disclosed their exposure to spot Bitcoin ETFs, further driving prices up.<\/span><\/p>\n<h2>Andrew Tate Plans $100M Bitcoin Investment<\/h2>\n<p><span class=\"replacer\"><\/span><br \/><span data-preserver-spaces=\"true\">Andrew Tate, a British-American social media personality and former professional kickboxer, has announced plans to invest heavily in bitcoin, expressing his dissatisfaction with traditional banks and their practices.<\/span><\/p>\n<blockquote>\n<p><span data-preserver-spaces=\"true\"> \u201cI\u2019m about to leave fiat completely,\u201d Tate declared. \u201cI\u2019m done with banks and their scams.\u201d<\/span><\/p>\n<\/blockquote>\n<p><span data-preserver-spaces=\"true\">Tate shared his plans on the <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/Cobratate\/status\/1790802144431378828\">social media platform X<\/a>, stating his intention to move away from fiat currency and invest $100 million in bitcoin.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">I know I\u2019m not supposed to do this in chaotic times but I\u2019m about to leave fiat completely and ape over 100M into btc. <\/p>\n<p>And I\u2019ll even prove I did it. <\/p>\n<p>I\u2019m done with the banks. <\/p>\n<p>I\u2019m done with their money. <\/p>\n<p>Done with the scams. <\/p>\n<p>Then I\u2019m going boating.<\/p>\n<p>\u2014 Andrew Tate (@Cobratate) <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/Cobratate\/status\/1790802144431378828?ref_src=twsrc%5Etfw\">May 15, 2024<\/a><\/p>\n<\/blockquote>\n<p><span data-preserver-spaces=\"true\">He emphasized his frustration with the banking system and expressed confidence in his decision, even planning to showcase his investment proof later.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">Key Points:<\/span><\/strong><\/p>\n<ul>\n<li><span data-preserver-spaces=\"true\">Tate intends to move $100 million from fiat to bitcoin.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">He criticized banks, calling their practices scams.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Despite some skepticism from X users, Tate is committed to his crypto investment.<\/span><\/li>\n<\/ul>\n<p><span data-preserver-spaces=\"true\">Andrew Tate, known for his controversial online presence and previous career as a kickboxer, has been involved in cryptocurrency-related news before. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Romanian authorities seized significant assets from him, including Bitcoin. In a video by a criminal lawyer, Tate promoted Bitcoin for tax avoidance and hinted at launching his own cryptocurrency. He has also been a part of the meme stock movement, investing $6 million in Gamestop, despite his net worth being around $11 million.<\/span><\/p>\n<div>\n<h2>Bitcoin Price Prediction<\/h2>\n<p><span class=\"replacer\"><\/span><br \/>\u00a0<\/p>\n<\/div>\n<p>Looking at the technical side of the market, <span data-preserver-spaces=\"true\">Bitcoin price prediction <\/span>is showing signs of retracement, having dipped below the $66,600 level. It has already completed a 38.2% Fibonacci retracement around the $64,750 level, which is currently acting as major support for BTC and is also today\u2019s pivot point. As long as Bitcoin holds above this level, the chances of a bullish bounce are high.<\/p>\n<p>In this scenario, the immediate resistance is likely to be around the $66,600 level. If Bitcoin breaks above this level, the next resistance would be around $67,820, with $69,000 acting as a further hurdle.<\/p>\n<p>Conversely, if the market continues to show a bearish correction, breaking below the $64,750 level could send BTC down to the $63,300 level.<\/p>\n<figure id=\"attachment_215039\" aria-describedby=\"caption-attachment-215039\" style=\"width: 1775px\" class=\"wp-caption aligncenter\"><figcaption id=\"caption-attachment-215039\" class=\"wp-caption-text\">Bitcoin Price Prediction \u2013 Source: Tradingview<\/figcaption><\/figure>\n<p>Additionally, the 50-day Exponential Moving Average (EMA) on the four-hour time frame is likely to support BTC around the $63,150 level, increasing the chances of a bullish bounce from this level. However, increased selling pressure could drive a bearish crossover below the 50-day EMA, with $61,500 or $61,200 likely to act as further support levels.<\/p>\n<p>Lastly, the Relative Strength Index (RSI) has already exited the overbought zone and is currently holding around 62, which is still in bullish territory.<\/p>\n<div>\n<p><strong><span data-preserver-spaces=\"true\">Current Trend:<\/span><\/strong><span data-preserver-spaces=\"true\"> We need to keep an eye on the $64,750 and $63,300 levels, as these are crucial for buyers. The chances of a buying trend above these levels remain strong.<\/span><\/p>\n<h2><strong>Secure Early Advantages with the 99Bitcoins Presale<\/strong><\/h2>\n<div class=\"markdown prose w-full break-words dark:prose-invert dark AIPRM__conversation__response\">\n<p>99Bitcoins, a leader in digital education, is transforming the way users learn about cryptocurrency through its \u2018learn-to-earn\u2019 platform. Participants can enhance their knowledge while earning $99BTC tokens, effectively growing both their expertise and their investment portfolios.<\/p>\n<p>The current presale of $99BTC tokens is catching the attention of savvy investors, offering an enticing entry price for early participants.<\/p>\n<\/div>\n<h3><strong>Exclusive Early Access to 99Bitcoins<\/strong><\/h3>\n<p>This presale presents a rare chance for early investors to secure $99BTC tokens at a competitive price of $0.00103 each. These tokens are not just a reward mechanism but also provide access to premium content and additional perks within the community.<\/p>\n<h3><strong>Act Fast\u2014Limited Time Offer<\/strong><\/h3>\n<p>To date, the presale has amassed $1,284,373, progressing towards a goal of $2,036,443. With just over three days left until the next pricing stage, this is a pivotal moment to invest in $99BTC and start benefiting from immediate staking opportunities.<\/p>\n<\/div>\n<p>                        \t                    <em>Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.<\/em>                        <\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/bitcoin-price-prediction-btc-above-65k-amid-100m-andrew-tate-investment-and-supply-lows.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Last updated: May 16, 2024 20:13 EDT | 4 min read Bitcoin Price Prediction Bitcoin is trading just above $65,000, experiencing a 1.25% correction after a recent surge. This upward movement was driven by weaker US CPI data, dovish FOMC sentiment, and a break from a symmetrical triangle pattern. Despite this slight bearish correction, the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":90935,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-90934","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>BTC Above $65K Amid $100M Andrew Tate Investment and Supply Lows | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Last updated: May 16, 2024 20:13 EDT | 4 min read Bitcoin Price PredictionBitcoin is trading just above $65,000, experiencing a 1.25% correction after a\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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