bullish $BTC | niroindi on Binance Square

Trending Articles

Bookmarked and Liked

--

Bullish

bullish 
$BTC 

Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.

11

0

Replies 0

Explore the latest crypto news

⚡️ Be a part of the latests discussions in crypto

💬 Interact with your favorite creators

👍 Enjoy content that interests you

Email / Phone number

Relevant Creator

@indika-niroindi-649451464

Explore More From Creator

Is Bitcoin bottom in? Seller exhaustion suggests BTC is about to… After showcasing impressive performance in November, Bitcoin [BTC] has now entered a consolidation phase. However, a crucial BTC metric flashed a signal, which indicated a possible change in market sentiment. Will this push be enough to send BTC to $100k next? Is this a Bitcoin bottom? After touching $99k last week, BTC witnessed a major correction as it fell to $91k. However, things started to get better as BTC hovered around the consolidation zone of $96k. At press time, the king coin was trading at $96,431.49 with a market capitalization of over $1.9 trillion. This all happened amidst speculations of BTC targeting $100k. The good news was that the latest analysis indicated a similar possibility. Glassnode’s recent tweet revealed that the Seller Exhaustion Composite for Bitcoin flashed a signal on the weekly timeframe, hinting at a positive shift in market sentiment. This could mean that Bitcoin was in its market bottom. Ali Martinez, a popular crypto analyst, also posted a tweet hinting at BTC to $99k in the coming days. Martinez’s tweet pointed out a falling wedge pattern on BTC’s chart, which suggested a possible Thanksgiving rally. In addition BTC whales are stockpiling the coin. Caueconomy, an author and analyst at CryptoQuant, posted an analysis revealing that almost 16,000 BTC entered whale reserves. This number continued to increase, corresponding to almost $1.5 billion in on-chain accumulation. This was a clear example of ‘buy the dip’ strategy, reflecting the big pocketed players’ confidence in Bitcoin. $BTC

--

Bitcoin faces sell pressure: Will THESE demand levels prevent a freefall? Bitcoin [BTC] market performance isn’t what you’d expect after a significant upswing last month, which brought it to a new all-time high with a 33.14% increase. Currently, the 24-hour gain is minimal at 0.78%. While this indicates more buying activity than selling, the upward move is far from guaranteed, as AMBCrypto reports. BTC supply on exchanges drops further Data from CryptoQuant reports a continued decline in Bitcoin availability on cryptocurrency exchanges. The Exchange Reserve has fallen by 0.61% in the past 24 hours and 1.53% over the last week A drop in Exchange Reserve typically indicates a reduced circulating supply of BTC on exchanges, a factor that often supports price increases due to scarcity. This decline has played a role in BTC’s recent gains on the daily chart. However, the sustainability of this rally remains uncertain, with AMBCrypto outlining key factors to watch. Selling pressure builds as BTC hits supply zone According to analyst Ali, BTC is at a critical juncture, having entered a supply zone at $96,614.75. Here, significant selling pressure exists, with sell orders totaling 296.8K BTC. If BTC faces a drop, Ali highlighted the importance of the next key demand zone at $93,578.96, where buy orders for 503.8K BTC from 666.94 addresses are concentrated. He stated: “Staying above this support level is a must to prevent these holders from selling.” While the stronger buy orders at this level suggest it could hold, the outcome depends on the intensity of selling pressure. Source: X AMBCrypto also noted a warning sign, with a sharp rise in BTC inflows to exchanges—2,678 BTC moved in the last 24 hours—adding weight to the possibility of a price decline. Retail participation weakens Retail investors, who play a major role in asset price movements, show signs of weakening interest as the number of active addresses has significantly declined by 35,03%. #ThanksgivingBTCMoves

--

Crypto Fear and Greed Index hits 73: Overheated market? The Fear and Greed Index was at 73 at press time, indicating that the market is in a state of greed. This level of optimism suggested that many investors are confident about further price increases. It also raises concerns about potential market overheating. Potential for market overheating AMBCrypto’s analysis of the Crypto Fear and Greed Index from Glassnode highlighted a reading of 73, signaling that the market was moving deeper into greed territory. This heightened greed can often be a double-edged sword. While rising optimism can drive prices higher, it also increases the risk of a sharp market correction. When the Fear and Greed Index reaches high levels, traders may take on excessive risk, pursuing higher returns without fully considering the potential downsides. This behavior can cause prices to surge in the short term, but history shows that periods of extreme greed often precede corrections. For instance, in early 2021, the index showed similar levels of greed, followed by a substantial market pullback. Market holds strong despite Fear and Greed Index Even with the Fear and Greed Index signaling caution, the total cryptocurrency market cap remained strong at $2.23 trillion. This strong market cap reflected ongoing interest from both institutional and retail investors. Leading cryptocurrencies like Bitcoin [BTC] and Ethereum [ETH] continued to anchor the market’s overall value, contributing to its positive trend. In addition to these top assets, altcoins such as Solana [SOL] and Worldcoin [WLD] have also played a key role in maintaining the market’s trend. Despite rising greed, the stability of the market cap shows that confidence in the long-term potential of the crypto market remains strong. With the Fear and Greed Index firmly in the greed zone, traders should weigh both opportunities and risks. On one hand, the strong market sentiment and solid market cap could lead to further gains in the short term. #BTC☀ #BullRunAhead

--

Bitcoin – How and why short-term holders can push BTC to $75,000 Bitcoin (BTC) was trading at $68,388 at press time after 9% gains within just seven days. On 18 October, Bitcoin hit a two-month high above $68,900, strengthening the market’s optimism for further gains. Several factors aligned together can support Bitcoin’s rally to an ATH. These include the market pricing in the outcome of the U.S elections and high inflows to Spot Bitcoin exchange-traded funds (ETFs). However, short-term holders remain the key to how long Bitcoin will take to reach record highs. Consider this – After Bitcoin spiked to a two-month high, on-chain metrics showed that this cohort started selling. Analyzing short-term holder behavior Data from CryptoQuant revealed an increase in Bitcoin exchange inflows from traders who held Bitcoin for between one and three months. The exchange inflow Spent Output Age Bands for this cohort jumped to a weekly high as BTC approached $69,000 on the charts. This spike can be seen as a sign of profit-taking behavior as short-term traders look to capitalize on the favorable market conditions. The short-term holder Spent Output Profit Ratio further highlighted that these traders have been selling BTC at a profit. Especially since the metric has been above 1 for over a week now. While an SOPR ratio above 1 suggests that the general market sentiment is positive, it could also mean a high likelihood of profit-taking. If Bitcoin’s uptrend shows signs of weakness, this cohort will likely start selling more, causing a price reversal. Besides short-term holders, the other group that could delay a Bitcoin ATH are the 1.9M addresses that bought BTC between $66,900 and $69,200. According to IntoTheBlock, these addresses, at press time, were at a break-even point. Bitcoin is bound to face resistance as it approaches $69,000 as these addresses might start selling once they turn in a profit. #BTC☀ #btc73k

--

USA presidential Election 2024 Prediction updated 18.10.2024 as per these sources, Donald trump to be Leading to next USA Leader.

--

Latest News

SEC Sues Touzi Capital Over Alleged $115 Million Fraud Scheme

--

Wallet.eth Domain Sells for 115 ETH

--

Diem Project's Challenges Revealed By Former Head

--

Libra's Demise: Insights From Former Facebook Executive

--

Tether's USDT Now Available On TON Blockchain Via Satoshi Tango

--

Cookie Preferences

ba-one-trust-cookie