💥BITCOIN down the drain now?💥
What is the sentiment and expectations? Read this and comment with YOUR ASSESSED PRICE
SITUATION:
BTC is currently putting up a good fight, holding strong above 94k.It's been showing a bit of resistance, with lower highs building up since a few days ago. On a different note, Pantera's "The Year Ahead in Crypto" tried to put our minds at ease about the presidential election in the United States. They said it wasn't just a "buy the rumor, sell the news" event for Bitcoin. In traditional markets, that means buying an asset when there are positive rumors and selling it when the news is later confirmed.
Another one: Bitcoin BTC ETF record outflows were somehow hardly noticeable in the overall picture. (The BlackRock fund raised more than $50 billion in capital in less than a year, making it the third most popular exchange-traded ETF in the US and the most successful ETF launch of all time!) Other big players, like Nate Geraci, President of ETF Store, are excitedly predicting the launch of combined spot BTC and ETH ETFs, spot ETH ETF options trading, staking for spot ETH ETFs, and the approval of a spot Solana ETF in 2025
AS_SESSMENT
Agree. However; The cooldown is a sign of regular market behaviour - Hawks cash out, future traders burn fingers (overheat markets with funding above 100%) and than the market shakes off to stay on it's feet. The run for BTC, BTC ETF and other is not even unfolded in total, but one could be suspicious if the halving and ETF influence will unfold or be suppressed by the current market sentiment and intrigues.
A huge question remains - Is the current behaviour a forced shake off and are we in contraction again, followed by the big bang (expansion) and a tremendous bull trend, or is BTC still overheated?
@ this end, our expectations are: Space left towards top - I still assess it will be somewhere around 112k PLUS for weeks, producing a exit or short opportunity at a certain point. We are bullish in short term
Cheers!
Like AND flolow
Not a financial advice.DYOR
