$BNB
Bitcoin has been on a heater over the past few weeks, but previous years' conferences have proven to be decent selling opportunities.
As Bitcoin surges past key resistance levels and institutional interest continues to build, all eyes are on Las Vegas this week, where the annual Bitcoin conference is set to draw thousands of investors, developers, and enthusiasts. But history tells a cautionary tale—major Bitcoin events often coincide with local price tops. Could this year be different?
The "Conference Curse"
Dubbed by some traders as the "conference curse," there's a pattern of Bitcoin seeing strong run-ups ahead of major events, only to see price pullbacks shortly after. It’s happened before: in 2021, Bitcoin peaked just ahead of the Miami Bitcoin conference, only to drop sharply in the weeks following. The same was observed in 2022 and 2023, when hype-driven rallies gave way to sell-the-news behavior.
2024: A Different Setup?
This time around, market conditions are markedly different. Spot Bitcoin ETFs have injected new liquidity into the market, major institutions are openly accumulating, and macro conditions—like anticipation of interest rate cuts—are providing tailwinds for risk assets. Bitcoin’s recent surge past $70,000 has been backed by strong on-chain data, increased exchange outflows, and a rising number of long-term holders.
Still, skeptics warn that short-term profit-taking could hit following the conference buzz. "Conferences bring hype, and hype brings traders looking to sell into strength," says crypto analyst Daniel H. Lee.
Eyes on Las Vegas
With speakers ranging from industry pioneers to mainstream financial figures, this year’s conference could mark a turning point in Bitcoin’s maturation as a macro asset. But for traders, the key question is whether the rally can sustain after the spotlight fades.
If Bitcoin can hold or even build momentum post-conference, it could finally put the “conference curse” to rest. Until then, the market waits—optimistic, but cautio
