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BTC Market Update 5th February In the latest analysis post, I've closely examined the performance of Grayscale Bitcoin Trust (GBTC) with a particular focus on recent liquidity movements. Over the past week, spanning five trading sessions, a noticeable deceleration in the rate of daily outflows from the trust has been observed. Specifically, the average daily outflow rate has contracted by +20%, indicating a substantial reduction in the volume of withdrawals. Since its inception, Grayscale's Bitcoin exposure has significantly diminished, registering a reduction of 127,000 BTC, equivalent to a 20.5% decrease in its holdings. This contraction can be attributed to various factors, including the liquidation of positions by discount buyers, the unwinding of assets by the FTX estate, and a notable shift by investors towards more cost-effective ETF options available in the market. Regarding Bitcoin's market direction, my analysis suggests a period of consolidation before any potential upward momentum. Currently, there are no discernible indicators hinting at an imminent downturn in Bitcoin's value; the market conditions appear stable and ready to grow. This stability holds significance for the crypto market, as historical patterns indicate that an increase in Bitcoin's price often precedes similar uptrends across the broader altcoin market. In essence, when Bitcoin's price rises, it tends to have a ripple effect, elevating the value of other coins. The intricate interplay between Bitcoin's liquidity movements and its price dynamics, coupled with the subsequent impact on the altcoin market, underscores the complexity of the cryptocurrency investment landscape. Having a long exposure in the consolidation range is considered a favorable entry point, especially for portfolios without existing long exposure.
Long
by TheArabianWhale
1
Bitcoin - Important StructureHello Traders, welcome to today's analysis of Bitcoin. -------- Explanation of my video analysis: In 2018 Bitcoin created the previous cycle high which was roughly at the $17.000 level. In November of 2020 Bitcoin then broke above the resistance, came back to retest and started its new bullish cycle. If Bitcoin will now retest the confluence of support mentioned in the analysis, I will certainly be looking for more long setups to add to my current long position. -------- I will only take a trade if all the rules of my strategy are satisfied. Let me know in the comment section below if you have any questions. Keep your long term vision.
BITSTAMP:BTCUSD
by basictradingtv
17
Long-term bullish trend for Bitcoin. (3-EMA) with periods of 50, 100, and 350 days creates a bullish configuration, where shorter averages are above the longer ones, signaling a potential continuation of the uptrend. The strength of the trend is also supported around events such as Bitcoin halvings, which historically have been associated with periods of intense price increases. The upcoming fourth halving may be another catalyst for price movements. Equally important could be market events like the approval of a Bitcoin ETF , which could bring new institutional capital to the market. Increased trading volume during clear price movements indicates significant interest at these price levels, which can be interpreted as confirmation of the trend's strength. The analysis may also point to key resistance levels, which, if broken, could pave the way for further price increases. Current technical configuration indicates a strong bullish trend, which, if maintained, could lead to testing and breaking through successive price levels. It is always important to remember that the cryptocurrency market is characterized by high volatility and unpredictability, therefore any technical analysis should be regarded as one of many tools for making investment decisions.
INDEX:BTCUSDLong
by CryptoDiabloo
Bitcoin $200,000: A Matter of TimeThe price of Bitcoin has historically exhibited an upward trend following each halving event. This phenomenon stems from a combination of factors, including a reduced supply of newly minted bitcoins, increased demand driven by scarcity, positive market sentiment surrounding the halving, and speculative buying fueled by anticipation of future price appreciation. The price of Bitcoin began to rise significantly in the months leading up to the 3rd halving, which occurred on May 11, 2020. The price rose from around $5,000 in March 2020 to over $10,000 in May 2020. After the halving, the price of Bitcoin continued to rise, reaching a peak of over $68,000 in November 2021. The fourth halving is estimated to occur in the second week of April 2024. The price of Bitcoin has been rising since the beginning of 2023, and I believe that it could reach $46,000 before halving and forming strong resistance for the next breakout. However, it is also possible that the price of Bitcoin could decline before the halving, as it did in the months leading up to the second and third halving in 2016 and 2020. After the 4th halving, we can expect a significant upward movement in Bitcoin. Additionally, we can expect ETF approval after the halving, which could further impact the price of Bitcoin and drive it upwards to $200k. Thanks Hexa
BITSTAMP:BTCUSDLong
by HexaTrades
20
BTC: Short-Term Liquidity Hunt Before Bear Trap and DropBitcoin (BTC) is currently positioned for a short-term move targeting liquidity above the current highs, potentially luring in bears. This setup suggests a liquidity hunt, followed by a rebound from the heavily traded area, and then a push towards higher liquidity zones beyond the recent highs. It appears to be a tactical move to trap bears before a significant downturn. While the short-term outlook hints at a bullish trap, my global perspective remains bearish, anticipating a more substantial short position post-liquidity grab around the $44K level, possibly even higher. www.coinglass.com
Long
by Shved126
4
BTC Bullish Day and Week Ahead? ☀️Cryptocurrencies rallied over the past 24 hours as investors poured in fresh cash, bolstered by the benchmark S&P 500 index hitting a new all-time high on Monday. They are also waiting for new signals from the Federal Reserve meeting up on Wednesday, regarding the up-coming rate cuts in the US. The price of Bitcoin recovered 3.2 percent over the past 24 hours to roughly 43,400 US dollars, a level last seen just after the approval of 10 spot Bitcoin exchange traded funds (ETFs) mid-January. This sharp increase triggered liquidations of Bitcoin short positions totaling around 40 million dollars over the past 24 hours. According to ATTMO, a bullish sun will shine over Bitcoin, Ethereum, Binance Coin and Ripple’s XRP in the next 24 hours, while bearish clouds will linger over Avalanche, Dogecoin and Polkadot. Follow us for more crypto weather reports!
BITSTAMP:BTCUSDLong
by ATTMO
Powerful BitcoinI wonder how come you don't follow me? Please follow me and like the posts before starting to read this analysis. If you have any questions, you can send me a message in the private message section. Well, according to the previous analysis, we saw a downward fake failure in the chart, which we could recognize as a fake failure using the indicators. Now it's back in full force. I will wait for my target, which is the price of 44200. What do you think about this topic?
BINANCE:BTCUSDLong
by ALILAZGIPOUR
4