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Bitcoin Stops One Step Away From Record ✅

Bitcoin Stops One Step Away From Record ✅

Oct-30-2024

Bitcoin briefly jumped to $73,525 during New York trading on Tuesday , just shy of its all-time high. The all-time high of $73,798 was set on March 14. The surge shows signs of a bull market, with several indicators pointing to Bitcoin reaching new highs, Cryptotimes reports.

First, Bitcoin has officially broken out of a seven-month downtrend. Its recent strong move above $68,000 has prompted traders to aim higher, with some eyeing a range between $85,000 and $160,000, as noted by noted trader Peter Brandt.

Secondly, Bitcoin's price action broke through significant selling zones in the $65,000 to $71,000 range, liquidating many short positions. This move left short traders with losses, forcing the bears to retreat.

Additionally, Bitcoin's market share has risen to 60%, its highest since March 2021. This metric is often viewed alongside the cryptocurrency fear and greed index as a barometer of investor sentiment, with rising dominance indicating a potential price rally.

Open interest in Bitcoin futures also jumped to a new all-time high of $43.6 billion, reflecting strong interest from market participants.

Additionally, the CME futures market has entered a contango, where futures prices are higher than spot prices. This indicates growing interest in Bitcoin as traders prepare for the upcoming price move.

Finally, there has been significant inflows into spot Bitcoin ETFs, with over $3.8 billion in the last two weeks alone. As of October 28, these ETFs had reached $68.5 billion in total assets under management, with further growth expected.

All of these factors together suggest that Bitcoin is on the verge of a major breakthrough that could lead to new all-time highs.

The percentages on deposits as of October 2️⃣9️⃣

The percentages on deposits as of October 2️⃣9️⃣

Oct-29-2024

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🎉 Great news for our customers! 🌐

Oct-29-2024

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The percentages on deposits as of October 2️⃣8️⃣

The percentages on deposits as of October 2️⃣8️⃣

Oct-28-2024

Glassnode analysts have identified the reason for bitcoin's recent rise✔️

Glassnode analysts have identified the reason for bitcoin's recent rise✔️

Oct-28-2024

The recent jump in the spot price of bitcoin (BTC) to $69,000 has encouraged investors, as evidenced by data from analyst firm Glassnode.

The change in sentiment coincided with the cryptocurrency crossing several technical thresholds, including the 200-day and 111-day moving averages, both of which are critical levels associated with price movements.
Net capital inflows into bitcoin have also accelerated, increasing by $21.8 billion (+3.3%) over the past 30 days. This has caused Realized Cap to climb to a new ATH of over $646 billion, suggesting that liquidity across the asset class is on the rise.
Glassnode Onchain Weekly Report #43
Supporting this rally was the bitcoin reserve status of short-term investors, and this is a key indicator for understanding recent market sentiment. According to Glassnode, all age groups in the short-term holders group have unrealized gains, which could boost market confidence.
This circumstance could act as a tailwind for continued upward price movement. On the derivatives side, open interest in bitcoin futures reached a new high of $32.9 billion, with much of that growth attributed to institutional participation, particularly through the Chicago Mercantile Exchange (CME).

The percentages on deposits as of October 2️⃣5️⃣

The percentages on deposits as of October 2️⃣5️⃣

Oct-25-2024