In our last issue of Bitfinex Alpha, we suggested that #Bitcoin's fall to $53,000 could be a local bottom. Since then, the price bounced back over 13%, ending the week up 8.76%. 📈 But have the markets recovered? The weekend recovery does not necessarily mean the downturn is over. 📊 Weekend-driven mini-rallies have been common in recent months, often followed by retracement during the week. The news-driven agenda continues to dominate sentiment, and the market could turn at any time. 🚨 Get more details in our #Bitfinex Alpha: https://lnkd.in/expPtaur
Bitfinex’s Post
More Relevant Posts
-
As the market recovers from last week's correction, we're honing in on the bottom of the current trading range. 📊 The recent pullback in #Bitcoin, around 17.5% from its ATH, hints at a local bottom. History suggests corrections typically cap at 20-24%, indicating we may be nearing stability. We remain optimistic despite negative outflows from GBTC 📈 Analysis suggests a potential floor for #BTC around $56,000, aligning with short-term holder realised prices and #ETF investor cost-bases. Stay informed with Bitfinex Alpha: https://lnkd.in/ed37CFGD
To view or add a comment, sign in
-
$BTC Local Lows and Market Sentiment 🧵 📉 #Bitcoin hit a local low last week, due to fears of selling by the German government and Mt. Gox creditors, but weekend data suggests we may not drop much further. Despite large nominal $BTC transfers to CEXs from the German government, the proportion of the overall realised cap since 2023 is small. Furthermore, narrowing spreads between implied and historical volatility suggest the market is expecting near-term stability and less severe declines. SOPR values also show short-term holders are selling at a loss now, which should lead to less pressure on the market. Get deep insights into the markets with Bitfinex Alpha:https://lnkd.in/e5vHTtVh
To view or add a comment, sign in
-
#Bitcoin's seven-week rally, a surging over 70%, fuels optimism for a $100,000 milestone. The options market reflects this sentiment, with a 12% spike in open interest for call options at $80,000 and $100,000. Experts attribute the surge to #FOMO and the impact of new #ETFs, anticipating sustained momentum and increased confidence. Read full story: https://lnkd.in/g8-pJJka
To view or add a comment, sign in
-
After a significant surge in March, propelling #Bitcoin to new ATHs, we anticipate a period of range-bound trading ahead. 📊 However, expect this phase to be accompanied by heightened volatility, distinguishing it from similar points in the market cycle. On-chain data reveals interesting insights into recent market dynamics. LTHs have been gradually offloading their holdings post-ATH, though on a smaller scale compared to past bull market peaks. Despite selling pressure from LTHs, analysis using UTXO Age Bands indicates buying activity. This serves as a support level, driven by new investors joining and existing investors increasing their positions, showing belief that the market can go higher 📈 👉 https://lnkd.in/eWpbqTj7
To view or add a comment, sign in
-
#Bitcoin is Ready to break-out $44.7k and willing to create a new #AllTimeHigh of 2023 around $46.4k to $48.6k upto coming days into next week. As per, On Chain Analysis data, Market is ready for another break out, Mean's manipulations of Pump and Dumps with another Liquidation soon. Be Prepared & #bitcoin
To view or add a comment, sign in
-
$BTC's growth after the previous halving says enough. If we are to experience a similar growth, #bitcoin doesn't have much time left and we should be starting the next push up anytime soon. A visual image what happened after the previous halving might give you a better perception. 👇 How the #bitcoinETF will impact the digital assets is a fair question to ask. #trading
To view or add a comment, sign in
-
#Bitcoin saw big monthly returns in February (+43.55%), but things have slowed down since. #BTC currently has a negative monthly return in April and is on pace to have its first red month since August 2023. A reason we see: long-term HODLers are taking profits. Our take? ✔️ Market fluctuations are common, and this could be a natural shift in investor participation. ✔️ Current market activity may indicate an opportunity for new investors to enter the space. ✔️ The crypto market experiences periodic cycles of investor turnover. This could be part of a normal trend. Let's #HODL and keep calm! #BitcoinHalving2024 #BitcoinETF #BitcoinHalving #BTCHalving
To view or add a comment, sign in
-
My best entry is within the Company's Market Analysis & Price Forecasting area, with the main objective of carrying out
#BITCOIN Example (2/4) Pivot, Sup.,Res., and Target price: Given your considerable interest shown to me, again for the sake of curiosity I will show you how this new function, which I am testing, works on the different highs and lows. If it goes well, I can insert it into my TradingAdvisor
To view or add a comment, sign in
31,394 followers