Bitcoin appears to have further upside potential after breaking through the critical resistance level. The buying price of short-term investors stands out as an important indicator in this context. In addition, institutional investors are seen to have significantly reduced their short positions on Bitcoin.
Bitcoin reached $63,602, a notable rally that has surpassed the $62,000 level in almost a month after the US Federal Reserve cut interest rates by 50 basis points. The 8% weekly gain created a positive atmosphere in the market, along with CoinMarketCap’s Fear & Greed Index returning to the “Neutral” range. CryptoQuant analysts emphasized that this short-term rally could be a sign of positive developments in the future. Analysts note that Bitcoin is approaching the three-month average purchase price of short-term investors. “The average purchase price of investors who have held Bitcoin for 1-3 months consistently serves as a critical support and resistance level,” they said. When the Bitcoin price rises above the average purchase price of active investors, it is considered a signal of an impending breakout. However, if this level is not exceeded, significant losses can be experienced.
According to the data, institutional investors have reduced their short order volume by 75%, moving away from negative Bitcoin derivatives. The decrease in institutional sell orders is considered another positive sign of a medium-term rally. “Institutions are no longer shorting Bitcoin aggressively. Net short positions on CME futures have decreased by 75% in the past 5 months,” Ki Young Ju said.
It may take some time for Bitcoin to reach a new all-time high, but after several months of sideways movement, the signs are looking more positive. Bitcoin breaking through critical resistance levels is an important indicator for investors. A price movement above the average purchase price of short-term investors indicates that the market may gain upward momentum. This positive outlook is supported by the reduction of short positions by institutional investors and the easing of selling pressure. Given the volatility in the market, it is important for investors to make careful and informed decisions.
FOR THE GIFT OF 10 DOLLARS PLEASE READ CAREFULLY.
My friends, you know that we, the publishers, are doing everything we can for you here. We are conveying to you the services and conveniences that our authorities have provided us. I have never withdrawn my support for both the cryptocurrency market and you, and on the contrary, I am trying to provide more support.
THIS 10 DOLLAR GIFT CAMPAIGN IS A CAMPAIGN MADE ESPECIALLY FOR ME BY BINACE. YOU CAN GET CONFIRMATION OF WHAT I HAVE SAID ABOUT THIS ISSUE BY CALLING LIVE HELP. IT IS A 10 DOLLAR CAMPAIGN MADE FOR YOU THROUGH ME.
Now I will explain how you will receive your gift. First of all, Binance users who have registered with someone's reference and actively use futures transactions will unfortunately not be able to benefit from this promotion.
So who can benefit?
Our friends who have not yet activated the futures section, when you activate your FUTURES transaction section, you will earn $10 when you open it by entering my 88623008 reference code.
I EXPLAIN IN DETAILED.
My brothers and sisters who have become Binance members without a reference, please listen carefully;
When you do what I say in order, you will receive 10 USDT.
Go to the Futures Section from your application,
On the next screen, open your account by entering the code 88623008 in the REFERENCE CODE section,
My brothers and sisters who want to complete this transaction and receive the 10 USDT reward until MAY 1 can do so. Afterwards, after activating your account, it is enough to open your first futures transaction.
The first 1,000 brothers who open a 200 USDT transaction by MAY 1 will receive a 10 USDT reward.
So let me give you a tactic like this; even if you open and close 20x with a $5 transaction, you will be entitled to the reward.
Even if you do this after May 1st, your reward will not come. So, do it until May 1st. In fact, I would say do it right now in 5 seconds.
It's very simple. Go to futures, enter my 88623008 referral code and activate the account. Then just open a transaction of 200 usdt in total and get the 10 usdt reward.
WHEN WILL THE REWARD COME?
Your $10 reward will come to the REWARDS section of your Binance application within 30 days from May 1. By activating it from there, you can use your $10 reward, or more than 300 lira, in futures transactions.
You can share this post with your friends in need so that they can also benefit from it.
IN THE MEANWHILE, MY BROTHERS, PLEASE DON'T MISS YOUR LIKES. EVERY SHARE IS FOR YOU. SO DON'T WITHHOLD YOUR SUPPORT. EVEN IF YOU HAVEN'T FOLLOWED US YET, DON'T FORGET TO FOLLOW US. WITH MY REGARDS.
