“Monster Bull Move” means whales can secure a rally
A classic bull cycle forecast is “totally bullish” as whales try to hedge the Federal Reserve this week.
Market news
Bitcoin (BTC) whales were the focus of attention this week as buying and selling habits split BTC price reports.
New insights from online chain analytics firm CryptoQuant show that derivatives investors lead the way when it comes to bullish bets on Bitcoin.
“Sick” BTC price indicator favors bulls
The second half of November saw a significant spike in buy / sell rates on the major derivatives trading platform Deribit, and for contributing analyst Cole Garner, this is a sure sign that promotional prices will react positively in the near future.
He commented, “I recently discovered that Deribit Trade’s annual market buy and sell ratio is an important leading indicator.
“This is the 30 day WMA. The strong uptrends in the index preceded any strong uptrends in this uptrend. And it just prints the monster’s bull movement. “
The data draws on other recent observations from the stock market given continued whale interest during price correction from all-time highs.
Broader foreign exchange reserves are currently at a 4-year low, meaning exchanges have less BTC on their books than they have ever had since the old all-time high of $ 20,000 in 2017.
Fed pressure on BTC positions
The downside, however, is stablecoins. Those rewards hit their own all-time high this week, implying that whales are hedging BTC.
Related: “I Think BTC Is Ready” – 5 Things To Watch For Bitcoin This Week
“The converted Stability Coin Index shows ATH (All-Time High). I’m not sure if the whales will benefit from the market volatility according to the FOMC announcement on December 16, but that’s also one of the uncertainties, “said Dan Lim, CryptoQuant official.
“At the moment we are still cautious until some of the uncertainty is removed.”
This week, the US Federal Reserve will meet to signal the future of quantitative easing in the form of asset purchases that could have far-reaching implications for the macro-market, tissues and cryptocurrencies.
Author
Bitcoin
“Monster Bull Move” means whales can secure a rally
A classic bull cycle forecast is “totally bullish” as whales try to hedge the Federal Reserve this week.
Market news
Bitcoin (BTC) whales were the focus of attention this week as buying and selling habits split BTC price reports.
New insights from online chain analytics firm CryptoQuant show that derivatives investors lead the way when it comes to bullish bets on Bitcoin.
“Sick” BTC price indicator favors bulls
The second half of November saw a significant spike in buy / sell rates on the major derivatives trading platform Deribit, and for contributing analyst Cole Garner, this is a sure sign that promotional prices will react positively in the near future.
He commented, “I recently discovered that Deribit Trade’s annual market buy and sell ratio is an important leading indicator.
“This is the 30 day WMA. The strong uptrends in the index preceded any strong uptrends in this uptrend. And it just prints the monster’s bull movement. “
The data draws on other recent observations from the stock market given continued whale interest during price correction from all-time highs.
Broader foreign exchange reserves are currently at a 4-year low, meaning exchanges have less BTC on their books than they have ever had since the old all-time high of $ 20,000 in 2017.
Fed pressure on BTC positions
The downside, however, is stablecoins. Those rewards hit their own all-time high this week, implying that whales are hedging BTC.
Related: “I Think BTC Is Ready” – 5 Things To Watch For Bitcoin This Week
“The converted Stability Coin Index shows ATH (All-Time High). I’m not sure if the whales will benefit from the market volatility according to the FOMC announcement on December 16, but that’s also one of the uncertainties, “said Dan Lim, CryptoQuant official.
“At the moment we are still cautious until some of the uncertainty is removed.”
This week, the US Federal Reserve will meet to signal the future of quantitative easing in the form of asset purchases that could have far-reaching implications for the macro-market, tissues and cryptocurrencies.
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