Bitcoin (BTC) News Today: Investor Focus Shifts to Halving Amidst Geopolitical Relief

Bob Mason
Published: Apr 15, 2024, 03:48 GMT+00:00

Key Points:

  • Bitcoin (BTC) gained 1.74% on Sunday, ending the session at $66,013.
  • News of Iran pre-warning Israel of the Saturday attack eased immediate fears of a retaliation.
  • On Monday, BTC-spot ETF flow data and news updates from the Middle East warrant investor attention as the Bitcoin Halving event looms.
Bitcoin (BTC) News Today

In this article:

Geopolitics: Investors Find Relief from News of a Pre-Warning

BTC gained 1.74% on Sunday. Partially reversing a 3.78% slide from Saturday, BTC closed the session at $66,013. Significantly, BTC ended the three-day losing streak.

On Sunday, investors reacted to news of Iran pre-warning Israel of the Saturday attack. The news raised investor hopes that Israel would not retaliate.

Nevertheless, BTC failed to reverse the losses from Saturday. The threat of an escalation in the Middle East lingered as the Bitcoin Halving event loomed.

Bitcoin and the Halving Event Countdown

Investors will likely focus on the supply and demand balance as the Bitcoin Halving event approaches. After the Saturday sell-off, BTC-spot ETF net inflows for Monday could influence the demand outlook after the Halving.

According to the Bitcoin Halving Countdown Clock, the Bitcoin Halving event will occur on April 19, 2024.

Less than 5 days until the Bitcoin halving event.
Bitcoin Halving Countdown 15/04/24

Bitcoin Fear and Greed Index Signals

Considering the approaching Halving event, the Bitcoin Fear and Greed Index moved closer to the Extreme Greed zone. On Monday, April 15, the Bitcoin Fear and Greed Index increased from 72 to 74. Entering the Extreme Greed zone could signal a BTC pullback from the current levels. However, BTC-spot ETF market flow data could be a deciding factor in near-term trends.

The BTC-spot ETF market saw net outflows of $82.8 million in the week ending April 12. Net outflows early in the week could impact buyer demand for BTC.

On Sunday, MicroStrategy (MSTR) founder and Chairman Michael Saylor shared a performance chart, saying,

“Capitalize on Bitcoin.”

MicroStrategy Performance
MSTR Performance Chart 15/04/24

Technical Analysis

Bitcoin Analysis

BTC hovered above the 50-day and 200-day EMAs, sending bullish price signals.

A BTC return to the $67,500 handle would support a move to the $69,000 resistance level. A break above the $69,000 resistance level could give the bulls a run at the March 14 ATH of $73,808.

On Monday, BTC-spot ETF flow data and the Middle East need consideration.

Conversely, a BTC break below the 50-day EMA and $64,000 support level would bring the $60,365 support level into play.

With a 14-Daily RSI reading of 44.99, BTC could drop to the $60,365 support level before entering oversold territory.

BTC Daily Chart sends bullish price signals.
BTCUSD Daily Chart 150424

Ethereum Analysis

ETH hovered below the 50-day EMA while remaining above the 200-day EMA. The EMAs confirmed the bearish near-term but bullish longer-term price trends.

An ETH break above the $3,244 resistance level would support a move to the 50-day EMA. A breakout from the 50-day EMA could give the bulls a run at the $3,480 resistance level.

Conversely, an ETH drop below the $3,033 support level could bring the 200-day EMA and the $2,664 support level into view.

The 14-period Daily RSI reading of 41.46 suggests an ETH fall to the $2,800 handle before entering oversold territory.

ETH Daily Chart sends bearish near-term price signals.
ETHUSD Daily Chart 150424

About the Author

Bob Masonauthor

With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.

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