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Back Above $4,000: Bitcoin Eyes Next Major Price Hurdle
The bitcoin price is inching higher on the day. But with $4,000 breached, $4,123 may be the next number traders want to watch.
Updated Sep 14, 2021, 1:56 p.m. Published Sep 27, 2017, 12:00 p.m.
Having successfully defended the key rising trend line support over the last few days, the bitcoin-US dollar (BTC/USD) exchange rate is well bid above the $4,000 mark today.
At press time, the cryptocurrency that powers the world's largest blockchain is trading at $4,070, up 3% on the day. On a monthly basis, though, it is still nursing 6% loss.
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With the positive price action, investors appear to also be turning a blind eye toward news out of China that indicates at least one major domestic bitcoin exchange has followed through on apparent orders from regulators to stop yuan trading.
"All customers will be able to withdraw all their funds from our exchanges within 72 hours," BTCC said in a statement.
Elsewhere, speculation is gathering pace that a small group of miners and developers carry out a planned fork of the blockchain this month. The fork may lead to the creation of a new network called bitcoin gold, that would give new cryptocurrency to all bitcoin holders.
Still, investors are at ease despite the talk of another hard fork. So is bitcoin heading for the moon? The price action analysis does suggest bright times ahead for the cryptocurrency, although it still needs to clear the last technical hurdle.
Daily chart
With the spike above $4,000 adding credence to the bullish setup discussed in the previous update, the break above the 50-day moving average level of $4,123 would be a sort of the "icing on the cake."
Such a move would cement expectations of a rally to record highs (repeat of the July pattern). On the downside, only an end of the day close below $3,880 [today's low] would abort the bullish view.
Spike strip via Shutterstock
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Ano ang dapat malaman:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Bitcoin’s Long-Term Holders Hit Cyclical Low as Sell Pressure Finally Eases
Long-term holder supply bottomed when bitcoin sank to $80K, signaling that the wave of spot-driven selling may be nearing exhaustion as prices rebound to $90K.
Ano ang dapat malaman:
- Long-term holder supply fell to 14.33M BTC in November, its lowest level since March, coinciding with bitcoin’s $80K correction low.
- The rebound to $90K suggests the bulk of spot-driven selling from seasoned holders has passed after a 36% peak-to-trough decline.
- Unlike prior cycles, LTH behavior in 2025 shows more measured distribution rather than blow-off-top capitulation, signaling a shift in market structure.
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