It is worth noting that,In BTC's short 60 second candle, 6% (approximately $78 million) of all open positions disappeared in shock.What drives this surge of curiosity?spot buying The purchasing behavior of Bitcoin (spot premium) has been ongoing
It is worth noting that,In BTC's short 60 second candle, 6% (approximately $78 million) of all open positions disappeared in shock.What drives this surge of curiosity?
spot buying
The purchasing behavior of Bitcoin (spot premium) has been ongoing. This resulted in the exchange's financing interest rate dropping to a negative value. Think of it this way:When the market is a bit too pessimistic, negative capital means that those who short Bitcoin (bears) are paying fees to those who are optimistic (bulls).
Gray Bitcoin Trust Fund (GBTC)
This is the smallest discount this year.Now, investors can infiltrate and receive a Bitcoin at a discount of 15.87%. This is much lower than the 44.03% figure on June 13th.The gap between the price of GBTC and the actual transaction of Bitcoin is narrowing.
There are rumors that the discount reduction is due to the SEC's decision not to appeal the GBTC case. Therefore,GBTC discount hit a two-year lowPeople feel FOMO. Market analysts interpret this as a strong indication that spot Bitcoin ETFs are about to be launched,Bloomberg analysts predict that by January 2024, the probability of obtaining approval for spot Bitcoin ETFs is 90%.
Bitcoin is dancing up and downTouching higher highs and higher lows.Essentially, Bitcoin is currently at a time when it may reach a higher or lower point!
The upcoming high point of Bitcoin will determine whether its trend will either soar to $40000 or plummet to $20000. Given the compression of the one-dimensional moving average, the market structure remains basically bullish.
When the price returns to $28000, or exceeds this number and remains there, we may see some more positive signals.
Nearly 6% of open positions were eliminated in the first minute of the surge, and as the market began bidding for BTC perpetual contracts, a large number of short positions were sold.
But currently,Mainly due to the rebound of Bitcoin, most counterfeit coins have fallen behind,The dominance of Bitcoin is currently rebounding, leading to the bloodshed of counterfeit coins.Having said that,Since recent lows, some counterfeit currencies (such as SOL) have outperformed the broader market. We need to pay attention to these counterfeit coins as they may perform well in the next cycle.
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