Bitcoin

Bitcoin hits $43,000: Here are the reasons why analysts are bullish on BTC in the near term

The bounce puts Bitcoin on track to consolidate gains above $40k, suggesting a fresh target lies above the $43k resistance line. BTC price could mirror movements in the S&P 500 as the asset and the stocks are highly correlated. Bitcoin’s recovery continued on Monday after the weekend’s break above $40,000, with bulls testing resistance above…

The bounce puts Bitcoin on track to consolidate gains above $40k, suggesting a fresh target lies above the $43k resistance line.
BTC price could mirror movements in the S&P 500 as the asset and the stocks are highly correlated.

Bitcoin’s recovery continued on Monday after the weekend’s break above $40,000, with bulls testing resistance above $43,000.

The gains come after the stock market also saw the S&P 500 post its best week of the year so far, even as central banks take aggressive hawkish stances amid rising inflation. Positive news from Tesla Inc. on Monday, which said that it has nearly $2 billion in BTC, could have also fueled Bitcoin’s upward movement.

What are analysts saying about Bitcoin’s short-term price outlook?

Analysts for BTC outlook

On-chain analysis platform Santiment says Bitcoin’s high correlation with stocks means further price action could very well track the S&P 500. The platform predicts that BTC will rise as a result of new gains in the benchmark index.

“A positive Monday will be a good sign for the week to come, and a continuation of a cryptocurrency rebound,” Santiment wrote.

Many eyes from the #crypto crowd will be on the incredibly close tie that #Bitcoin has had to the fluctuations of the volatile #SP500. A positive Monday will be a good sign for the week to come, and a continuation of a #cryptocurrency rebound. https://t.co/yw8WW8jskm pic.twitter.com/7aD0VLOm5L

— Santiment (@santimentfeed) February 7, 2022

US stocks are up in early trades on Monday, with the S&P 500 adding 0. 21% and the Nasdaq and Dow also up.

Pseudonymous crypto trader and Bitcoin analyst Rekt Capital says Bitcoin seeing a new weekly close in the green “has partially confirmed a break back into the $38000-$43000 range.”

The upside also had Bitcoin hovering near its 50-week exponential moving average, which the analyst says is “a key Bull Market moving average.”

“The EMA represents a price point of ~$44000 and may figure as a resistance. However, turning it back into support would restore macro bullish bias for Bitcoin,” he added.

Chart showing Bitcoin’s 50-week EMA at $44,000, a key price level for bulls. Source: Rekt Capital on Twitter.

According to another analyst, the bounce means Bitcoin’s most “significant” barrier is now at $48,400.

#Bitcoin | The most significant resistance level ahead of $BTC sits around $48,400, based on @intotheblock‘s GIOM model. #BTC pic.twitter.com/RI8Wio3lZK

— Ali Martinez (@ali_charts) February 7, 2022

Josh Rager, another very popular crypto analyst says the strong weekly close could aid bulls’ push for a breakout to $50,000. If BTC/USD has another green week, he believes there will be more upward momentum.

$BTC

Zooming in, strong weekly close

Decent chance it could push up to $50k if the price closes out green again this week

Lot’s of chatter about bull-trap but R/R down here is decent especially when looking at higher time frames pic.twitter.com/v8ExJ3E855

— Rager (@Rager) February 7, 2022

Given these perspectives, a bullish week would likely see BTC/USD turn the $40-$3k supply wall into a demand zone. If bulls achieve this, they are likely to mirror the rebound seen last July, which came after a 50%+ drawdown that started in May.

Bitcoin dipped more than 20% in January and lost more than 50% of its value before the rebound from lows of $33k.

Bitcoin

BitcoinOS Launches Charms: Metaprotocol for Programmable Tokens on Bitcoin and UTXO Blockchains

BitcoinOS (BOS) has announced the launch of Charms, a groundbreaking metaprotocol designed to enable native, programmable tokens on Bitcoin and other UTXO blockchains without the need for bridges or custodians. This new protocol allows developers to create decentralized applications and smart assets directly on Bitcoin, facilitating seamless token transfers across UTXO-based chains such as Cardano…
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Bitcoin

qBTC to Release Open-Source Quantum-Safe PoW Bitcoin Side Chain, Adds Jameson Lopp as Advisor

This content is provided by a sponsor. LAS VEGAS, May 23, 2025 – Quantum Safe Technologies Corp, the research collective building qBTC, the world’s first quantum-safe sidechain for Bitcoin, today announced it will publish the full source code of its proof-of work- side chain protocol during the Bitcoin 2025 Conference in Las Vegas…
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Bitcoin

Report: Trump administration wants USAID to adopt blockchain technology

USAID will change its name to the US Agency for International Humanitarian Assistance (IHA) By using blockchain technology, it will “radically increase security, transparency, and traceability” The revamp comes after Elon Musk’s Department of Government Efficiency (DOGE) cut USAID numbers from 10,000 to just under 300 in early February The Trump administration reportedly wants its…

Mavryk Dynamics raises $5M to build its RWA L1 blockchain network

USAID will change its name to the US Agency for International Humanitarian Assistance (IHA)
By using blockchain technology, it will “radically increase security, transparency, and traceability”
The revamp comes after Elon Musk’s Department of Government Efficiency (DOGE) cut USAID numbers from 10,000 to just under 300 in early February

The Trump administration reportedly wants its United States Agency for International Development (USAID) to “leverage blockchain technology” as it works on renaming the organization.

According to a report from WIRED, a government memo has been circulating among State Department officials detailing plans for USAID. In the 13-page document – first reported on by Politico – it states that as part of the revamp, USAID will change its name to US Agency for International Humanitarian Assistance (IHA).

The memo also suggests “leveraging blockchain technology” which will “radically increase security, transparency, and traceability.”

It adds: “This approach would encourage innovation and efficiency among implementing partners and allow for more flexible and responsive programming focused on tangible impact rather than simply completing activities and inputs.”

USAID staffers on leave

Since US President Donald Trump re-entered the White House, significant changes have been made to organizations in the US. One of which is USAID.

In early February, USAID staff were put on administrative leave “with the exception of designated personnel responsible for mission-critical functions,” according to a government notice.

Following the implementation of Elon Musk’s Department of Government Efficiency (DOGE), staff numbers at USAID have been cut from 10,000 to just under 300.

In a post on X in February, Musk wrote: “USAID is a criminal organization. Time for it to die.”

USAID is a criminal organization.

Time for it to die. https://t.co/sWYy6fyt1k

— Elon Musk (@elonmusk) February 2, 2025

Blockchain in humanitarian efforts

The use of blockchain in humanitarian efforts has been used before with many seeing the potential is can bring. In 2020, UNICEF invested around 135 Ethereum – about $30,000 at the time – into eight companies from seven developing countries to assist in developing prototypes and to scale their projects.

Financial services company AID:Tech turned to the payment rails of stablecoin issuer Circle to provide fraud-resistant disaster relief delivery in USDC in 2021. By doing so, they wanted to reduce inequality and increase opportunities by bringing accountability and transparency to the distribution of federal relief.

Realizing the benefits of blockchain technology, AID:Tech was the first company to use the technology to deliver international aid in 2015.