Bitcoin Sees 3% Bounce Post Binance Settle; Analysts Call for Bulls to Take Charge

Bitcoin’s price rebounds 3% after Binance settles with the U.S. Department of Justice. Analysts anticipate a ranging period before a potential upward surge, with key levels at $35.7K and $38K. Traders closely watch the BTC/USD corridor and speculate on the next move in the ongoing bull run.

Bitcoin experiences a 3% price rebound in the aftermath of Binance reaching a $4.3 billion settlement with the U.S. Department of Justice. Despite briefly dipping to $35,600, BTC/USD maintains a two-week trading range, catching the attention of analysts and traders.

According to Daan Crypto Trades, the recent market activity indicates a notable bounce from the range’s lower boundary. Emphasizing crucial levels at $35.7K and $38K, the analysis suggests that Bitcoin is poised for a ranging period before a potential upward impulse.

Market participants, including Credible Crypto, echo this sentiment, anticipating some rangebound activity before a significant move higher. Credible Crypto notes the return of spot premium and identifies a forming bottom in the market. He suggests a capped upside at around $37K and a downside cap at $35K during the accumulation phase before the expected liftoff.

In conclusion, Bitcoin’s resilience amid the Binance settlement sets the stage for a period of consolidation, with market participants closely monitoring key levels and anticipating the next phase of the ongoing bull run.

Disclaimer: The information provided in this article is for educational and informational purposes only. It should not be considered financial advice from Cryptozi or any other entity. We want to emphasize that if readers use the content or services mentioned in this article, Cryptozi is not responsible for any resulting losses. Therefore, it is strongly advised to exercise caution and consult with financial professionals before making any financial decisions that could impact your financial situation.

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