Bitcoin rebounded strongly today, returning above $74,000 and regaining a key level amid a renewed bullish trend in the cryptocurrency market. This rebound comes at a time when traditional safe-haven assets such as gold are under pressure due to a stronger dollar triggered by the oil crisis. Experts predict that after Bitcoin's 13% rise, the price will continue to climb.
Bitcoin rebounded above $74,000 driven by positive sentiment , rising 4% and returning to the $74,000 mark, demonstrating strong upward momentum. In the past four hours, $165 million in short positions were liquidated. Institutional investor interest also supported the rally after the US Personal Consumption Expenditures (PCE) inflation rate fell to 2.8%. With continued inflows into spot Bitcoin ETFs and easing macroeconomic tensions, overall cryptocurrency market sentiment is shifting from "extreme panic" to regaining confidence. Investors expect Bitcoin prices to test $75,000 or even higher, and as long as key support levels hold, bulls will continue to dominate the market. According to CoinGape, data from Polymarket and Kalshi shows that the probability of Bitcoin prices rising to $100,000 has surged to its highest level since February. Notably, Polymarket data shows the probability of Bitcoin prices rising to $100,000 has jumped to 44%.
Robert Kiyosaki doubles down on Bitcoin amid gold and silver price crashes.
Robert Kiyosaki, author of "Rich Dad Poor Dad," expressed his confidence in Bitcoin's rise. He also predicted that gold and silver would accelerate their gains, but these traditional safe-haven and inflation-hedging assets are declining as the US Dollar Index (DXY) breaks through 100.
“As long as Iran continues to attack oil tankers in the Strait of Hormuz, I am confident that...the price of oil from my Texas wells will continue to rise,” he said.
Robert Kiyosaki highlighted Warren Buffett's strategy of holding cash after selling stocks and bonds. He even revealed that last week, amidst tensions in the Middle East, he used millions of dollars in cash to purchase oil futures, gold, silver, and Bitcoin. His bullish stance aligns with the current Bitcoin rally, driven by improved liquidity and a return to stablecoin inflows.
Peter Brandt believes Bitcoin is forming a bullish pattern.
Veteran trader Peter Brant points out that a classic "megaphone" pattern has appeared on the Bitcoin daily chart. His recent Bitcoin predictions show a "banana split" pattern on both the weekly and daily charts, suggesting a potential short-term upward move.
Despite past warnings from Brant, he is currently optimistic about the short-term outlook. The Bitcoin daily chart shows a sustained upward trend in price until early April. He also predicts a decline in gold prices, which would further boost Bitcoin's price.
Gold prices fell 0.30% today to $5,008 an ounce, after a nearly 3.5% drop last week. Meanwhile, Bitcoin has climbed back above its 50-day moving average and is poised for a rally.
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