Bitcoin Crosses Crucial Psychological Benchmark, Here’s What’s Next: Analyst
The post Bitcoin Crosses Crucial Psychological Benchmark, Here’s What’s Next: Analyst appeared on BitcoinEthereumNews.com. Yuri Molchan The world’s flagship cryptocurrency, Bitcoin, may face a shift to a bullish market sentiment, according to a recent report Prominent crypto analyst and trader Ali Martinez has taken to the X social media platform (formerly popular under the name Twitter) to share what may be good news for Bitcoin holders. Martinez tweeted that Bitcoin has crossed the crucial psychological mark at $27,900 – this is the short-term holder cost basis. Should Bitcoin stay higher than this important price level, the short-term holders of BTC who were previously in low profits, may be back in profit then, according to the tweet. This could mean that the market sentiment is changing for bullish one, the expert concluded. #Bitcoin has crossed the short-term holder cost basis of around $27,900, which is a crucial psychological benchmark. If $BTC maintains above this level, those short-term holders previously underwater may be back in profit. This could signal a shift to a bullish market sentiment! pic.twitter.com/WilZ6CB67P — Ali (@ali_charts) October 18, 2023 Earlier today, Martinez tweeted that more than half of traders on Binance were shorting Bitcoin futures, since approximately 51% of all accounts on this respectable crypto exchange were going short. 49.31% of accounts were going long on Bitcoin futures contracts, betting on the BTC price to grow in the future. “Bitcoin supply crisis in effect”: Lark Davis Popular crypto blogger on YouTube, Lark Davis, has published a note on his X account to remind his army of followers that every day Bitcoin gets sucked from crypto exchanges by both individual and institutional investors. He pointed out that the Bitcoin supply crisis started even before the market began heatedly discussing Bitcoin spot ETFs this year, filing for which was submitted by the world’s largest fund manager BlackRock spearheaded by Larry Fink – retail investors,…
The post Bitcoin Crosses Crucial Psychological Benchmark, Here’s What’s Next: Analyst appeared on BitcoinEthereumNews.com.
Yuri Molchan The world’s flagship cryptocurrency, Bitcoin, may face a shift to a bullish market sentiment, according to a recent report Prominent crypto analyst and trader Ali Martinez has taken to the X social media platform (formerly popular under the name Twitter) to share what may be good news for Bitcoin holders. Martinez tweeted that Bitcoin has crossed the crucial psychological mark at $27,900 – this is the short-term holder cost basis. Should Bitcoin stay higher than this important price level, the short-term holders of BTC who were previously in low profits, may be back in profit then, according to the tweet. This could mean that the market sentiment is changing for bullish one, the expert concluded. #Bitcoin has crossed the short-term holder cost basis of around $27,900, which is a crucial psychological benchmark. If $BTC maintains above this level, those short-term holders previously underwater may be back in profit. This could signal a shift to a bullish market sentiment! pic.twitter.com/WilZ6CB67P — Ali (@ali_charts) October 18, 2023 Earlier today, Martinez tweeted that more than half of traders on Binance were shorting Bitcoin futures, since approximately 51% of all accounts on this respectable crypto exchange were going short. 49.31% of accounts were going long on Bitcoin futures contracts, betting on the BTC price to grow in the future. “Bitcoin supply crisis in effect”: Lark Davis Popular crypto blogger on YouTube, Lark Davis, has published a note on his X account to remind his army of followers that every day Bitcoin gets sucked from crypto exchanges by both individual and institutional investors. He pointed out that the Bitcoin supply crisis started even before the market began heatedly discussing Bitcoin spot ETFs this year, filing for which was submitted by the world’s largest fund manager BlackRock spearheaded by Larry Fink – retail investors,…
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