Bitcoin

<ul><li>Macro headwinds and strong futures demand set stage for potential market shift, amid looming volatility.</li><li>BTC&#39;s 70%&#43; surge fails to close liquidity dip post-FTX and Alameda Research collapse.</li><li>On-chain activity surges, low volatility, and US dollar strength create anticipation for a significant BTC move.</li></ul>In a pivotal moment for the world of cryptocurrencies, Bitcoin (BTC) faced challenges and opportunities, triggering speculation on the direction of its next significant move. The macro landscape saw the US dollar&#39;s strength casting a shadow over the market while intricate dynamics played out within digital currencies, as prominent figures and data analysts indicated.In a recent tweet by Willy Woo a popular Bitcoin on-chain analyst, he discusses the current critical juncture for BTC amidst macro headwinds and growing demand, suggesting an imminent volatility squeeze:<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/52b87efe7ca348ce8e4511c37b4c2769.png" />Willy Woo, a respected cryptocurrency analyst known for his insightful market predictions, took to Twitter to emphasize the significance of the ongoing situation. He highlighted two crucial factors driving the market&#39;s turbulence: the relentless strength of the US dollar and the resurgent demand within the futures market. These combined factors put the leading cryptocurrency at a crossroads, where the potential for both upward and downward movements was undeniable.The market sentiment was palpable as traders and investors braced themselves for a substantial market shift. Woo also pointed to the burgeoning activity on the blockchain itself, with on-chain fundamentals showing signs of renewed vigor.<a href="https://research.kaiko.com/insights/curve-3pool-sees-175m-outflows" rel="noopener noreferrer nofollow">Kaiko</a>, a reputable data analytics firm focused on cryptocurrency markets, echoed the sentiment of a looming transformation in the crypto sphere. They reported an astounding 70%&#43; surge in BTC&#39;s value throughout 2023. However, despite the impressive gains, a peculiar phenomenon called the &#34;Alameda gap&#34; emerged, stemming from the liquidity dip subsequent to the collapse of FTX and Alameda Research.Read full article at<a href="https://cryptotale.org/btc-price-in-crunch-time-as-macro-headwinds-and-on-chain-fundamentals-collide/" rel="noopener noreferrer nofollow"> CryptoTale.</a>

BTC Price in Crunch Time as Macro Headwinds and On-Chain Fundamentals Collide

CryptoTale

Other articles published on Aug 17, 2023

Sony Network Embraces Japanese Web3 Startup for Accelerating Mainstream Adoption

Oracle Stock Price Prediction: Can ORCL Break All-Time High?

Halving Spurs High Demand for Bitcoin June 2024 Expiry Futures and Options on Deribit

Cryptocurrency Market Witnesses Bearish Trend as Bitcoin Dips Below $29K, Dragging Altcoins Down

$SHIB, $BONE, $LEASH Tokens Plunge Due to Shibarium Network Technical Error

US Federal Reserve has charged a former FTX banking ally

Join our free newsletter for daily crypto updates!