Wyckoff’s ‘Sign of Strength’ (SOS) The Wyckoff Method, developed by Richard Wyckoff, analyzes market patterns to predict price movements. The ‘Sign of Strength’ (SOS) indicates when demand exceeds supply, suggesting a bullish trend. Bitcoin’s Recent SOS Pattern Charles Edwards, founder of Capriole Investments, believes Bitcoin is showing an SOS pattern. This suggests that the market…
Bitcoin is poised for a potential surge after forming a bullish pattern and attracting institutional investment. Bull Flag Pattern Analyst Ali Martinez identified a bull flag pattern on Bitcoin’s 4-hour chart, indicating a consolidation period after a significant price increase. The decreasing trading volume during this phase suggests a temporary pause rather than a reversal….
Recent Market Activity After a brief outflow, the Bitcoin ETF market has seen a surge in inflows, signaling growing investor confidence. This week alone, there have been significant inflows: Tuesday: $480 million Wednesday: $243.5 million Thursday: $323.8 million from Blackrock Long-Term Outlook Matt Hougan, CIO of Bitwise, believes this is just the beginning. He predicts…
Spot Bitcoin ETFs Soar Bitcoin is back on the rise, with Spot Bitcoin ETFs seeing a surge in inflows. On March 27th, these ETFs recorded a whopping $243 million in inflows, led by BlackRock’s iShares Bitcoin Trust and ARK 21Shares’ Bitcoin ETF. This marks the third consecutive day of net inflows, a welcome change from…
A major Bitcoin whale recently transferred a colossal $6 billion worth of BTC across multiple wallets, sparking speculation within the crypto community. Whale’s Mega-Transaction Blockchain analysis firm Arkham Intelligence revealed that the Bitcoin address 37XuVSE sent $6 billion in BTC to three new addresses: bc1q8yj: $5.03 billion bc1q6m5: $561.46 million bc1q592: $488.40 million The bc1q592…
Bitcoin Whales Buy the Dip As Bitcoin’s price dipped, whales (large investors holding at least 1,000 BTC) jumped at the chance to buy more at lower prices. Since January, the number of wallets with 1,000+ BTC has steadily increased. Institutional Interest Drives Whale Activity Institutional investors have poured billions into Spot Bitcoin ETFs, which require…
Bitcoin Balance on Coinbase Drops Glassnode data shows that the amount of Bitcoin held on Coinbase has dropped to a nine-year low of 344,856. This suggests that investors are holding their Bitcoin for the long term, reducing the pressure on its price. Centralized Exchange Outflows Data from Santiment indicates a drop in Bitcoin held on…
Crypto expert Rekt Capital has spotted a striking resemblance between Bitcoin’s recent pre-halving dip and the one that happened in 2020 before the cryptocurrency skyrocketed to a new high. Pullback Matches 2020 Bitcoin’s current pullback is almost identical to the one it experienced before the 2020 halving. In both cases, the cryptocurrency fell by over…
Crypto Outflows Reach New Record Crypto investment products have seen a record-breaking week of outflows, with investors pulling out a whopping $942 million. This marks the end of a seven-week streak of strong inflows. Bitcoin Takes the Hit Bitcoin investment products accounted for a significant portion of the outflows, with Spot Bitcoin ETFs in the…
Key Reasons for the Rally: 1. Futures Market Influence The futures market has played a major role in pushing up Bitcoin’s price. Many traders have been liquidated, meaning they’ve had to sell their Bitcoin at a loss. This has created a domino effect, leading to a surge in Bitcoin’s price. 2. Bullish News Positive news,…
