Crypto

Bitcoin Remains Above $65k—What’s Next For The Cryptocurrency?

Published

2 years ago

May 16, 2024

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Bitcoin Remains Above k—What’s Next For The Cryptocurrency?

Bitcoin prices have retained much of their recent gains today. (Photo illustration by Chesnot/Getty … [+] Images)

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Bitcoin prices have maintained their strength over the last 24 hours, retaining the vast majority of the gains that materialized during the cryptocurrency’s latest rally.

The world’s largest digital currency by total market capitalization was trading above $65,000 at the time of this writing, according to CoinMarketCap data.

The digital asset held that value after rallying more than 8% in under 24 hours, reaching its highest since approximately April 24 and then extending those gains, additional CoinMarketCap figures show.

Focusing in on bitcoin’s short-term outlook, several market observers highlighted key fundamental developments that could impact the digital asset’s price, in addition to singling out price levels that could provide key support or resistance.

Brett Sifling, an investment advisor for Gerber Kawasaki Wealth & Investment Management, offered some input on this situation.

“Bitcoin remains range bound since the end of February, as the halving event wasn’t enough to push it to new highs,” he stated via emailed comments.

“I don’t see any other major catalysts on the horizon, other than increased institutional adoption. There is also the potential for the Fed to lower rates later this year, which could bring increased optimism for risk-on assets like Bitcoin,” said Sifling, referring to the federal funds rate, which is controlled by Federal Reserve policymakers.

The decisions of the Federal Open Market Committee have generated quite a bit of visibility over the last few years, as these government officials pushed the fed funds rate, which has an impact on broader borrowing costs, to its highest level since 2008.

This, in turn, has provided a significant headwind for economic activity, but inflation data has remained stubbornly high at many points in spite of high borrowing costs.

Yesterday, headline inflation figures that fell short of economist estimates were cited as a catalyst that helped bitcoin prices rally. This development was credited with helping provide investors with greater hopes that the Fed will cut rates soon.

Technical Analysis

As for the key price levels that technical traders should monitor going forward, Sifling offered some guidance.

“The recent all-time highs in March of around ~$74,000 is a key level to watch, as well as the lows of this recent range at ~$56,500,” he stated.

Grant Tungate, head of business development for Blockforce Capital, also shed some light on this matter.

“I don’t want to make any predictions but I’ll provide some commentary on levels I believe are important,” he said via email.

“Key levels are the new 30d high ~$67.3k, then the all time high ~$74k. On the downside the 30d low ~$57k is an important zone,” Tungate added, pinpointing figures similar to those identified by Sifling.

Armando Aguilar, an independent cryptocurrency analyst, also offered some input on this subject.

“The next critical support level for BTC holds in the high $62k range, if BTC struggles to maintain these levels it could retest low $61k range,” he stated.

“The resistance levels for BTC are in the mid $66k which if breached, we could see the blue chip cryptocurrency cruise to mid/high $68k,” Aguilar added.

“The ATH does provide a key resistance level which would require BTC inflows to pick up as it was the case for the first 2 months since launch. Don’t immediately see levels passing ATH as most custodians have reached maximum distribution capacity thus seeing low inflows into BTC,” he concluded.

Disclosure: I own some bitcoin, bitcoin cash, litecoin, ether, EOS and sol.

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Crypto

Nancy Guthrie disappearance highlights cryptocurrency’s role in criminal activity

Published

5 hours ago

February 11, 2026

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Nancy Guthrie disappearance highlights cryptocurrency’s role in criminal activity

PHOENIX (AZFamily) — The high-profile disappearance of Nancy Guthrie has brought new attention to the world of cryptocurrency, with multiple ransom notes sent to media outlets demanding payment in Bitcoin in exchange for Nancy Guthrie or her whereabouts.

What is cryptocurrency?

Cryptocurrency is digital money that only exists online. It operates on a network or blockchain rather than being controlled by a bank. It allows person-to-person transactions and uses a public ledger to record transactions. Crypto is most frequently used for online payments or investments.

Crypto expert Robert Hockensmith said every transaction is tracked and verified.

“Any time you buy it, any time you sell it, any time you use it to buy a product or service, any time you connect it or take it to another place, it is identified as you touching it. That’s how it works,” said Hockensmith, who works with AZ Money Guy.

Why criminals use cryptocurrency

Despite the tracking capabilities, criminals use crypto because it’s not that simple to trace. A cybersecurity expert said a lot of criminals have found creative ways to avoid being traced.

They’ll use multiple crypto wallets and addresses to obscure their identity. Funds can be transferred globally almost instantly, and if some IP addresses are hidden, they can be harder to locate. Once a transaction is confirmed, it’s extremely difficult to reverse.

“If you think about, for example, ID theft, cybercriminals might literally steal someone’s identity and that might include their access to something like Coinbase and then use that victim’s Coinbase to receive stolen funds and move it somewhere else, same way they used to do it with wire transfers,” said Eric Foster, cybersecurity and crypto expert and CEO of Tenex.AI.

Another crypto expert said criminals will keep moving their crypto over and over again, making it harder and harder to trace. He calls crypto the modern way of transporting large sums of money and said it has become the currency of choice for criminals.

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Crypto

White House Convenes Crypto Leaders, Banks, Policymakers for Market Structure Talks

Published

17 hours ago

February 11, 2026

Press Room

Bipartisan momentum is building behind U.S. crypto legislation as the White House intensifies talks with industry, banks, and lawmakers, signaling renewed efforts to break a regulatory stalemate and advance long-awaited market structure rules.

Crypto

Perry and Jackson police partner to investigate cryptocurrency crimes

Published

1 day ago

February 10, 2026

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Perry and Jackson police partner to investigate cryptocurrency crimes

Perry and Jackson township police are partnering to investigate crimes related to cryptocurrency. The cooperation has already resulted in the recovery of stolen assets, police say.

Perry Township Police Chief Bryan D. Taylor announced Feb. 10 that as part of the collaboration, Jackson Township police will provide certified cryptocurrency investigative support for cases originating in Perry.

He wrote in a social media post that the partnership allows Perry police to leverage specialized expertise in an evolving area of financial crime, ensuring more thorough investigations and improved outcomes for victims.

“This partnership has already produced positive results,” Taylor wrote. “In a recent case originating in Perry Township, investigative efforts led by Jackson Township Police Department resulted in the successful recovery of cryptocurrency funds, which were returned to the victim. Recovering stolen digital assets is often complex and challenging, making this outcome especially meaningful for the victim and the community.”

He extended appreciation to the Jackson Township Police Department and Jackson Detective Jeffrey Aynes “for their professionalism, technical expertise and dedication throughout the investigation. Their commitment to collaborative law enforcement, and victim-focused outcomes exemplifies the strength of regional partnerships.

“Cryptocurrency crimes present unique challenges that require specialized training and expertise,” he said. “This partnership strengthens our ability to pursue these cases effectively and reinforces our shared commitment to serving and protecting our communities.”

He wrote that the Perry Township Police Department remains committed to adapting to emerging crime trends, using partnerships and pursuing justice for victims of financial crimes.