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Bitcoin is back above $70,000, and @noshitcoins says data proves
BTC
price doesn’t need positive spot ETF inflows to rally.
share, tweet i will follow back for any news. $BTC
#BTC
Source:Cointelegraph
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$BTC $ETH $BNB 🪙 The correction is over Friends, I think you saw that BTC has shown a very sharp rise in the last 2 days. It looks like the sellers have finished their work. According to the structure of the move they could not update the last lower point, which also plays in favor of the bulls (those who move the price up). 🔤 What are the metrics for the bullish trend to continue? • Spot BTC-ETFs continue to receive investor money. • Funding on centralized exchanges has returned to normal. • The market has been cleared of unnecessary players as liquidations have been plentiful. • Tether continues to print a billion USDT each. • Netflow (inflows and outflows of funds) on exchanges remains negative, which means that investors are actively buying crypto and withdrawing it to wallets for hold. • Open interest in derivatives is starting to grow again. I had a thought that the market will still give us an opportunity to make money in a short position, but analyzing all the above factors, the probability of that happening is getting lower. ❕ Therefore, I advise you to consider only spot positions (longs). If you are a beginner, it will be extremely difficult to try to catch the next reversal 🐳 SOURCE: crypto treys
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$BNB $BTC SOURCE🐸 Waiting for a fall before the halving Friends, I found one pattern for you. Now many market players are waiting for the halving, as after it, with greater probability, the rapid growth of BTC price will begin. But many do not take into account one point. 🔎 The historical chart of BTC clearly shows that 1-2 months before the halving, bitcoin regularly corrected up to -60% of the peak and then also quickly grew back to the original values. Given the additional data that Bitcoin corrected by an average of 20% in 2023, the current 17% drawdown was an expected drop in Bitcoin before the impending active bull run. •basis The most important thing to realize is that this localized drawdown could be the last good chance to enter the crypto at good prices before the active growth phase begins. However, no one can predict the end of the correction, so it is better to invest in installments, this way you will have the best average entry point. There are ~28 days left until halving. ❔ Are you currently buying crypto on a drawdown? 🔥 - Yes 🧐 - No SOURCE: crypto Treys
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