Bitcoin

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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-bitcoin-sellers-may-be-exhausted/" data-wpel-link="internal">Analyst Predicts Bitcoin Sellers May Be Exhausted</a> 
You can read this news on COINTURK: <a href="https://en.coin-turk.com/anticipation-for-the-first-spot-bitcoin-etf-approval-in-the-usa/" data-wpel-link="internal">Bitcoin</a>’s Encouraging K33 Research Report! Sellers May Be Exhausted! 
K33 Research analyst Vetle Lunde states that Bitcoin’s perpetual futures funding rates have been below neutral for over 30 days, indicating a pessimistic market sentiment. This marks the first time since December 25, 2022, that the average four-week funding rate has turned negative, showing an increasing number of <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> taking positions expecting further price drops. 
<h2 style="text-align: justify" id="strong-bitcoin-s-selling-pressure-may-be-decreasing-strong">Bitcoin’s Selling Pressure May Be Decreasing</h2> 
Despite the negative outlook, the analyst believes that the crowded short positions might indicate that sellers are nearly exhausted, potentially setting the stage for market recovery. 
Lunde noted that negative funding rates show investors expect Bitcoin’s price to fall, which also means more hedging and increasing open short positions. In this week’s K33 Research report, Lunde stated, “This is a strong indicator that the selling side is nearing exhaustion.” 
Lunde added that the current series of negative funding rates is the longest since May 2024, with annualized funding rates averaging 5.1% over 36 days. In contrast, the current average four-week funding rates are lower and consistently below neutral. 
<h2 style="text-align: justify" id="strong-lunde-september-drops-should-be-seen-as-buying-opportunities-strong">Lunde: September Drops Should Be Seen as Buying Opportunities</h2> 
Historically, September has offered good buying opportunities during drops, with market recovery occurring in the fourth quarter. Lunde emphasized that buying during September drops usually yields positive returns by year-end, stating, “Buying the dip in September to set up for Q4 has historically been the best spot strategy.” 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-385605" src="https://coin-turk.com/wp-content/uploads/2024/09/Bitcoin-Eylul.jpeg" alt="" width="1200" height="800"> 
According to CoinGecko <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a>, BTC‘s price has risen by 0.06% in the last 24 hours, trading at $56,587. Additionally, Bitcoin’s market dominance stands at 56.3%. 
The post <a href="https://en.coin-turk.com/analyst-predicts-bitcoin-sellers-may-be-exhausted/" data-wpel-link="internal">Analyst Predicts Bitcoin Sellers May Be Exhausted</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Analyst Predicts Bitcoin Sellers May Be Exhausted

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