Solana

Bitcoin

Read

<p class="is-style-lead">One trader believes Bitcoin (BTC) has bottomed, referencing CryptoQuant data. His preview is despite a parallel analysis by Mike McGlone, a Bloomberg analyst, who notes that the coin is still struggling with negative liquidity.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> – The Bottom Has Passed But Still Attractive Price<br><br>"The attached chart shows Bitcoin in Google Trends and Bitcoins estimated to be purchased between 1 week and 1 month ago."<br>by <a href="https://twitter.com/DanCoinInvestor?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@DanCoinInvestor</a> <br><br>Link👇<a href="https://t.co/Ri3x8DuEyv" target="_blank" rel="noopener noreferrer nofollow">https://t.co/Ri3x8DuEyv</a></p>— CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1709444275921211540?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 4, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>The analysis is anchored on the link between public sentiment and Bitcoin prices. Often, high optimism signals a market peak.</p>
<p>CryptoQuant uses Google Trends data and coins purchased in the past month to support this preview.</p>
<p>You might also like: <a href="https://crypto.news/solana-co-founder-yakovenko-ethereum-embodies-bourgeois-digital-tyranny/" rel="noopener noreferrer nofollow"> Solana co-founder Yakovenko: ‘Ethereum embodies bourgeois digital tyranny’ </a></p>
<p>Presently, data indicates low public interest in Bitcoin, suggesting that the coin is far from its peaks. Accordingly, the analyst, pointing to CryptoQuant data, suggests that this might be a good time for traders to gradually accumulate.</p>
<p>While the trader is bullish, a recent analysis by Mike McGlone points to possible liquidity challenges Bitcoin has to face as it steps into Q4 2023.</p>
<p>Specifically, monetary policy shifts across the globe and risks of central banks resuming their interest rate hikes might adversely impact sentiment and capital inflow to Bitcoin and crypto.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Declining Bitcoin Has Preceded <a href="https://twitter.com/hashtag/Fed?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Fed</a> Pivots –<br>The bottom line for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> at the start of 4Q may be that liquidity remains negative, with price implications. Coming of age in a zero interest-rate world, the <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#crypto</a> hangover could be enduring as global rates continue to rise,… <a href="https://t.co/Nrn8lMaYzo" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/Nrn8lMaYzo</a></p>— Mike McGlone (@mikemcglone11) <a href="https://twitter.com/mikemcglone11/status/1709134080233668900?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 3, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>McGlone backed his claims with a one-year fed fund futures chart, suggesting Bitcoin needs to adjust downward for liquidity to improve.</p>
<p>Bitcoin has remained relatively firm in 2023, aligning with other risk assets. According to the Bloomberg analyst, Bitcoin has strong resistance at $30,000. However, there is a possibility of BTC retracing to as low as $10,000.</p>
<p>Read more: <a href="https://crypto.news/ftx-founder-sam-bankman-frieds-trial-day-1-recap/" rel="noopener noreferrer nofollow"> FTX founder Sam Bankman-Fried’s trial day 1: Recap </a></p>

Bitcoin has bottomed but struggling with negative liquidity

crypto.news

2023년 10월 4일에 게재된 다른 기사

Digitalbits Blockchain evolves into XDB CHAIN: A Game-Changing Rebranding Initiative. (4 Oct)

Crypto-Friendly Congressman McHenry Assumes Speaker Role – Here's the Latest

GALA Crypto Forecast: GALAUSD Price Targets For October 2023?

Bitcoin (BTC) Price Striving Hard Post Brief Retracement

Ripple vs SEC: Pro-XRP lawyer says SEC May Seek Emergency Writ to 2nd Circuit: ‘But That Will be ...

XRP Soars As SEC’s Attempt to Appeal Landmark Ripple Ruling Is Denied

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!