TheNyrabKingdom
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#Bitcoin! Apparently bitcoin has a strong downward trend, but well, in this market one doesn't know what to expect, other than speculating and taking a chance. I hope all those traders are doing well... I hope to make it at some point, good luck to everyone.
while bukele from his office
while bukele from his office
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#Bitcoin Hello hello people, the truth is that I had a pretty losing October, but you don't learn from mistakes, and it's always good to follow your own intuition, this process is costing me a lot, but at the same time I was expecting a mini bearish season these weeks, but it didn't happen and I ended up losing a few dollars, keep betting on what you believe in, and nothing else I just wanted to say don't let yourself be guided by anyone, learn and make your own strategy that will give you results in the future, don't give up and give up, strength $BTC
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#CryptoNewss
Good good, the truth is that I've been looking at some comments or posts, people who invest and have no idea what they're doing, I recommend taking some trading courses, there are thousands on the Internet, dedicate at least 15 minutes a day to it, this is not something random where you put in 10 dollars and become a millionaire, people asking with 1 dollar in their accounts??? Come on, get your act together people, you can't do much with one dollar, you'll achieve something, surely, but not millions of dollars, stop asking and start studying like you should for anything in life, because I'm tired of reading, the crypto market is crap, only for the whales.
STUDY H.D.P.
Thanks cryptomaniacs, that's all.
Good good, the truth is that I've been looking at some comments or posts, people who invest and have no idea what they're doing, I recommend taking some trading courses, there are thousands on the Internet, dedicate at least 15 minutes a day to it, this is not something random where you put in 10 dollars and become a millionaire, people asking with 1 dollar in their accounts??? Come on, get your act together people, you can't do much with one dollar, you'll achieve something, surely, but not millions of dollars, stop asking and start studying like you should for anything in life, because I'm tired of reading, the crypto market is crap, only for the whales.
STUDY H.D.P.
Thanks cryptomaniacs, that's all.
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#BITCOIN
THIS IS HOW WE ARE WAITING
Bitcoin dropped to 67.1k on the 22nd, suggesting or at least for the moment that a resistance was formed at 67.2k yesterday and it returned to its price of 68k and above today, it seems that the trend is going to start to be bullish again, success cryptomaniacs.
#Bitcoin! $BTC $BNB $ETH
THIS IS HOW WE ARE WAITING
Bitcoin dropped to 67.1k on the 22nd, suggesting or at least for the moment that a resistance was formed at 67.2k yesterday and it returned to its price of 68k and above today, it seems that the trend is going to start to be bullish again, success cryptomaniacs.
#Bitcoin! $BTC $BNB $ETH
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#BITCOIN
After reaching about 69.4k, bitcoin shows us a 1.5% drop as I write this, and now it is at an average of 68k, and it seems to start showing a downward trend at least in the next few hours, speculating whether to wait for it to go down further to buy again, or buy in my opinion and my analysis, (I clarify that each one does their research and analysis), none of the things I say are 100% reliable, but they generate results for me in my strategy, waiting to see if the resistance is at 65k that it showed us a few days ago or it will break a little more, time to wait and see results, I hope you have been able to make profits in this rise successes, $BTC
cryptomaniacos
After reaching about 69.4k, bitcoin shows us a 1.5% drop as I write this, and now it is at an average of 68k, and it seems to start showing a downward trend at least in the next few hours, speculating whether to wait for it to go down further to buy again, or buy in my opinion and my analysis, (I clarify that each one does their research and analysis), none of the things I say are 100% reliable, but they generate results for me in my strategy, waiting to see if the resistance is at 65k that it showed us a few days ago or it will break a little more, time to wait and see results, I hope you have been able to make profits in this rise successes, $BTC
cryptomaniacos
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#Bitcoin
Seeing that it managed to break that support that was blocking it from that rise of 68k, we see that bitcoin breaks that wall that had been bothering it for days, I hope some of you manage or managed to get your profits in time, it is seen reaching approximately 68.7k.
Between a battle of the Bull and bear, we can see that bitcoin managed to break the barrier of 68k, now we wait to see how far it goes in its correction and wait to get a good profit, there are always many possibilities in the crypto world, you have to measure it at the level of your wallet. It does not take much to start but do not expect to earn thousands or hundreds in a day, the important thing is to see how the market is handled, at the beginning using some indicators and signals of certain patterns, then they will no longer be necessary, search and analyze on your own, bet on a crypto, follow it and be stealthy, cryptomaniac successes, follow me for more advice from one more than just getting small profits with a good strategy. $BTC
Seeing that it managed to break that support that was blocking it from that rise of 68k, we see that bitcoin breaks that wall that had been bothering it for days, I hope some of you manage or managed to get your profits in time, it is seen reaching approximately 68.7k.
Between a battle of the Bull and bear, we can see that bitcoin managed to break the barrier of 68k, now we wait to see how far it goes in its correction and wait to get a good profit, there are always many possibilities in the crypto world, you have to measure it at the level of your wallet. It does not take much to start but do not expect to earn thousands or hundreds in a day, the important thing is to see how the market is handled, at the beginning using some indicators and signals of certain patterns, then they will no longer be necessary, search and analyze on your own, bet on a crypto, follow it and be stealthy, cryptomaniac successes, follow me for more advice from one more than just getting small profits with a good strategy. $BTC
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#BITCOIN
TRYING TO BREAK THAT SUPPORT
Seeing the activity of today is quite bullish in these last hours recovering its price and the 67.6k and trying to break that support, and see if it reaches the 70k or goes down, assuming a rise quite complacent for some and disappointing for others, I am carrying out and improving my techniques and strategies in the futures market, getting some good performance, I hope you can also take advantage of these rises and falls.
Successes Crytomoniacos.
$USDC $BTC
TRYING TO BREAK THAT SUPPORT
Seeing the activity of today is quite bullish in these last hours recovering its price and the 67.6k and trying to break that support, and see if it reaches the 70k or goes down, assuming a rise quite complacent for some and disappointing for others, I am carrying out and improving my techniques and strategies in the futures market, getting some good performance, I hope you can also take advantage of these rises and falls.
Successes Crytomoniacos.
$USDC $BTC
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IT SEEMS THAT #BITCOIN HAS A SUPPORT AT 67K
It has been reaching that limit for several days and is bouncing down, it seems that it is here to do so and each time it is getting less and less close to the previous support, it seems that a bearish stage is coming at least in 1 or 3 days, we will see how it goes and if it goes back to betting on the resistance of 65k or getting a little lower, exaggerating a little, to 60k or 58k, this is my own analysis, do your own research and do not let anyone handle your money, I hope it helps, success. #cryptomaniacos
#bitcoin $BTC
It has been reaching that limit for several days and is bouncing down, it seems that it is here to do so and each time it is getting less and less close to the previous support, it seems that a bearish stage is coming at least in 1 or 3 days, we will see how it goes and if it goes back to betting on the resistance of 65k or getting a little lower, exaggerating a little, to 60k or 58k, this is my own analysis, do your own research and do not let anyone handle your money, I hope it helps, success. #cryptomaniacos
#bitcoin $BTC
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#worldcoin I JUST FINISHED THE PROCESS OF DEPOSITING MY WLD TO BINANCE
Good news guys, the process of the package I had of wld is now free, I hope they release it for you soon.
I CONFIRM THAT MY WLD HAS ALREADY BEEN RELEASED, SUCCESS, CRYPTOMANIACS
$BTC $WLD $USDC
Good news guys, the process of the package I had of wld is now free, I hope they release it for you soon.
I CONFIRM THAT MY WLD HAS ALREADY BEEN RELEASED, SUCCESS, CRYPTOMANIACS
$BTC $WLD $USDC
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#BITCOIN Where will it go?
Observing that bitcoin a few days ago, was touching those 70k again and hoping that its market cap continues to rise.
I look and see that there are some very close days after that rise to 69.5k marked at the maximum limit that #binance marked on 10/20, then causing many investors to want to take their profits, now I look at the following 10/21 quite close, analyzing that today a bearish price of 65.2k arrived, 8 days ago we did not see that price that was around 64.8k approximately, although is it a good number to start buying? Even now it is already at a price of 66.8k as I write this, it seems to be correcting its course, if as far as I am concerned and analyzing it could be a top and go up again or another scene of daily bearish scenes, perhaps reaching around 60k or 58k and rising again as it was 13 days ago when the price of bitcoin reached 58.9k maybe it is looking for that price to have a new correction the bull market returns or it was simply a few consecutive sales that are now rising again to 70k or more. Personally, I would have invested a little more money in that drop but I could not do it, although if it continues to rise those who bought low I recommend selling, if you are new, with 5 to 10% it is a lot of profit, go sell. If you want to learn about futures and trading, follow me and I'll give you some tips, sometimes 1% or 2% is already a lot of profit to learn how to invest, winning is not always about quantity, but about learning how the market moves, whether starting with 100$USDC (I recommend 100 dollars or the same amount equivalent to your local currency) or any other crypto, and generating profits and more learning, I'm not telling you that you will always win because that does not always happen, but once you learn to be patient in the market and seeing how it moves, through the capital you have it is different, you can accumulate small ones that will later become big profits, write your questions, Thank you very much, success, cryptomani
Observing that bitcoin a few days ago, was touching those 70k again and hoping that its market cap continues to rise.
I look and see that there are some very close days after that rise to 69.5k marked at the maximum limit that #binance marked on 10/20, then causing many investors to want to take their profits, now I look at the following 10/21 quite close, analyzing that today a bearish price of 65.2k arrived, 8 days ago we did not see that price that was around 64.8k approximately, although is it a good number to start buying? Even now it is already at a price of 66.8k as I write this, it seems to be correcting its course, if as far as I am concerned and analyzing it could be a top and go up again or another scene of daily bearish scenes, perhaps reaching around 60k or 58k and rising again as it was 13 days ago when the price of bitcoin reached 58.9k maybe it is looking for that price to have a new correction the bull market returns or it was simply a few consecutive sales that are now rising again to 70k or more. Personally, I would have invested a little more money in that drop but I could not do it, although if it continues to rise those who bought low I recommend selling, if you are new, with 5 to 10% it is a lot of profit, go sell. If you want to learn about futures and trading, follow me and I'll give you some tips, sometimes 1% or 2% is already a lot of profit to learn how to invest, winning is not always about quantity, but about learning how the market moves, whether starting with 100$USDC (I recommend 100 dollars or the same amount equivalent to your local currency) or any other crypto, and generating profits and more learning, I'm not telling you that you will always win because that does not always happen, but once you learn to be patient in the market and seeing how it moves, through the capital you have it is different, you can accumulate small ones that will later become big profits, write your questions, Thank you very much, success, cryptomani
Japan slow to approve crypto ETFs, maintains strict tax, regulations
#etfapproval
Table of Contents
Market Musing-g
Japan slow to approve crypto ETFs, maintains strict tax, regulations
Table of ContentsGlobal market shiftsTax and regulatory concerns Japan still bullish on Bitcoin
Japan’s regulators are hesitating to approve cryptocurrency-based exchange-traded funds (ETFs), even as global markets embrace spot crypto ETFs.
Despite growing calls from domestic advocacy groups and partnerships forming to launch digital asset products, Japan’s tax and regulatory stance continues to present hurdles to adoption.
Mario Nawfal, entrepreneur and host of “The Roundtable Show” on X, described Japan’s approach to crypto ETFs as “still in HODL mode.”
Global market shifts
The United States and Hong Kong have already approved spot Bitcoin (BTC) and Ether (ETF) ETFs, demonstrating a growing willingness to incorporate crypto into traditional finance (TradFi).
This shift is evident in institutional and retail investment in new crypto ETF products, as seen on Oct. 22, when investors poured $329 million into BlackRock’s iShares Bitcoin Trust.
The US Securities and Exchange Commission (SEC) gave spot BTC ETFs the green light in January, followed by Ether ETFs in July, while Hong Kong authorities approved both in April.
However, Japan’s Ministry of Finance and its Financial Services Agency (FSA) have remained cautious about the volatility and risks associated with crypto ETF products.
#etfapproval
Table of Contents
Market Musing-g
Japan slow to approve crypto ETFs, maintains strict tax, regulations
Table of ContentsGlobal market shiftsTax and regulatory concerns Japan still bullish on Bitcoin
Japan’s regulators are hesitating to approve cryptocurrency-based exchange-traded funds (ETFs), even as global markets embrace spot crypto ETFs.
Despite growing calls from domestic advocacy groups and partnerships forming to launch digital asset products, Japan’s tax and regulatory stance continues to present hurdles to adoption.
Mario Nawfal, entrepreneur and host of “The Roundtable Show” on X, described Japan’s approach to crypto ETFs as “still in HODL mode.”
Global market shifts
The United States and Hong Kong have already approved spot Bitcoin (BTC) and Ether (ETF) ETFs, demonstrating a growing willingness to incorporate crypto into traditional finance (TradFi).
This shift is evident in institutional and retail investment in new crypto ETF products, as seen on Oct. 22, when investors poured $329 million into BlackRock’s iShares Bitcoin Trust.
The US Securities and Exchange Commission (SEC) gave spot BTC ETFs the green light in January, followed by Ether ETFs in July, while Hong Kong authorities approved both in April.
However, Japan’s Ministry of Finance and its Financial Services Agency (FSA) have remained cautious about the volatility and risks associated with crypto ETF products.
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WITHDRAWALS #WorldCoin.
Despite the uncertainty of knowing whether or not it would arrive, my withdrawal of my #Worldcoins finally arrived after almost 10 days,
they arrived at their destinations so there is hope that yours will arrive, especially if you withdrew them through the #Optimism network.
There is hope that your #WLD🔥🔥🔥 will arrive, you just have to be patient and obviously you also have to make the necessary claim, and send the hash transaction address, thanks for reading, success 🖖🙌 $WLD
Despite the uncertainty of knowing whether or not it would arrive, my withdrawal of my #Worldcoins finally arrived after almost 10 days,
they arrived at their destinations so there is hope that yours will arrive, especially if you withdrew them through the #Optimism network.
There is hope that your #WLD🔥🔥🔥 will arrive, you just have to be patient and obviously you also have to make the necessary claim, and send the hash transaction address, thanks for reading, success 🖖🙌 $WLD
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How are you doing with futures?
#FuturosCoinM #pepecoin🐸 #Bitcoin! #Binane #BinanceSquareFamily
I hope you are doing well, I'm trying, success!
#FuturosCoinM #pepecoin🐸 #Bitcoin! #Binane #BinanceSquareFamily
I hope you are doing well, I'm trying, success!
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Panama calls for speeding up regulation of bitcoin and cryptocurrencies
Panama is on the verge of a transformation in its financial market with the possible regulation of cryptocurrencies and the tokenization of assets, according to specialist Alfredo Muñoz.
In the discussion “Approach to the Regulation of Digital Assets in Financial Markets”, held this week, Muñoz highlighted that the regulation promises to revolutionize the management of financial assets.
“The regulation of digital assets in the Panamanian financial market is on the horizon,” he said, indicating that this measure seeks to take advantage of the technology inherent to Bitcoin to improve efficiency and speed in transactions.
Muñoz explained that the tokenization of assets allows almost instantaneous settlements, which is a leap from the days that traditional methods usually require.
“The implementation of distributed networks not only optimizes the speed of settlements, but also allows investors to exercise all their rights in a programmed manner,” he said.
In his opinion, the benefits of this regulation are clear: greater supervision, efficiencies for investors and democratized access to the market.
“Tokenization also generates larger liquidity pools by automating settlements, allowing investments to be customized according to the characteristics of each user,” Muñoz said.
With this trend on the rise, Panama could position itself to lead financial innovation in the region, says Muñoz. “Panama has always been advanced in the financial market; it is time to give a boost to the regulations to recognize and test this technology,” he said.
#Bitcoin $BTC
Increasing exponentially, more people want to regularize the currency in their countries, with the growing rise of the main cryptocurrencies in this market, do your search for successful reports and news
Panama is on the verge of a transformation in its financial market with the possible regulation of cryptocurrencies and the tokenization of assets, according to specialist Alfredo Muñoz.
In the discussion “Approach to the Regulation of Digital Assets in Financial Markets”, held this week, Muñoz highlighted that the regulation promises to revolutionize the management of financial assets.
“The regulation of digital assets in the Panamanian financial market is on the horizon,” he said, indicating that this measure seeks to take advantage of the technology inherent to Bitcoin to improve efficiency and speed in transactions.
Muñoz explained that the tokenization of assets allows almost instantaneous settlements, which is a leap from the days that traditional methods usually require.
“The implementation of distributed networks not only optimizes the speed of settlements, but also allows investors to exercise all their rights in a programmed manner,” he said.
In his opinion, the benefits of this regulation are clear: greater supervision, efficiencies for investors and democratized access to the market.
“Tokenization also generates larger liquidity pools by automating settlements, allowing investments to be customized according to the characteristics of each user,” Muñoz said.
With this trend on the rise, Panama could position itself to lead financial innovation in the region, says Muñoz. “Panama has always been advanced in the financial market; it is time to give a boost to the regulations to recognize and test this technology,” he said.
#Bitcoin $BTC
Increasing exponentially, more people want to regularize the currency in their countries, with the growing rise of the main cryptocurrencies in this market, do your search for successful reports and news
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Michael Saylor recommends Apple buy Bitcoin
According to MicroStrategy CEO Michael Saylor, Apple should buy Bitcoin to consolidate its leadership position. In his opinion, the Cupertino firm is making a mistake by dedicating a massive amount of money to the repurchase of shares.
He highlights that an injection of $100 billion dollars in the purchase of BTC would greatly strengthen the company's position thanks to the enormous returns it would bring in a few years. Saylor's recommendation came during the "Markets with Madison" podcast where the guest reviewed some of the main advantages of investing in the largest cryptocurrency.
MicroStrategy is currently the publicly traded company with the largest holding of BTC. According to recent data, the firm has more than 250,000 coins on its balance sheet. It has been buying these bitcoins since 2020 and now has significant unrealized profits. Each MicroStrategy coin has a purchase price of less than $40,000. The latter gives an idea of the magnitude of the company's profits with BTC.
Saylor believes that Apple should buy Bitcoin to have positive results in the same proportion as MicroStrategy. He emphasizes that these hypothetical results would attract a large number of investors to the shares of the manufacturer of the popular iPhone.
#Bitcoin!
#Apple
#MicroStrategy $BTC
According to MicroStrategy CEO Michael Saylor, Apple should buy Bitcoin to consolidate its leadership position. In his opinion, the Cupertino firm is making a mistake by dedicating a massive amount of money to the repurchase of shares.
He highlights that an injection of $100 billion dollars in the purchase of BTC would greatly strengthen the company's position thanks to the enormous returns it would bring in a few years. Saylor's recommendation came during the "Markets with Madison" podcast where the guest reviewed some of the main advantages of investing in the largest cryptocurrency.
MicroStrategy is currently the publicly traded company with the largest holding of BTC. According to recent data, the firm has more than 250,000 coins on its balance sheet. It has been buying these bitcoins since 2020 and now has significant unrealized profits. Each MicroStrategy coin has a purchase price of less than $40,000. The latter gives an idea of the magnitude of the company's profits with BTC.
Saylor believes that Apple should buy Bitcoin to have positive results in the same proportion as MicroStrategy. He emphasizes that these hypothetical results would attract a large number of investors to the shares of the manufacturer of the popular iPhone.
#Bitcoin!
#Apple
#MicroStrategy $BTC
Bitcoin advocate Samson Mow pitches Bitcoin to German parliament
On Thursday, October 17th, Samson Mow who is the founder of JAN3 talked about Bitcoin strategies in German parliament.
He did it along with a member of the Bundestag, who is pro-Bitcoin himself. Mow’s firm JAN is also focused on the adoption of Bitcoin and its benefits for nation-states.
Yesterday a tweet on X was shared by Samson Mow with a picture of his laptop showing slides that he prepared for the meeting. The slide had a German statement translated into English saying “Do not sell your Bitcoin.”
Later on, a tweet by the Bundestag account thanked Samson for “coming to the German Parliament to share and discuss the current state and possibilities of Bitcoin nation-state adoption”.
#holding
#Bitcoin!
#ProfitWithConfidence
On Thursday, October 17th, Samson Mow who is the founder of JAN3 talked about Bitcoin strategies in German parliament.
He did it along with a member of the Bundestag, who is pro-Bitcoin himself. Mow’s firm JAN is also focused on the adoption of Bitcoin and its benefits for nation-states.
Yesterday a tweet on X was shared by Samson Mow with a picture of his laptop showing slides that he prepared for the meeting. The slide had a German statement translated into English saying “Do not sell your Bitcoin.”
Later on, a tweet by the Bundestag account thanked Samson for “coming to the German Parliament to share and discuss the current state and possibilities of Bitcoin nation-state adoption”.
#holding
#Bitcoin!
#ProfitWithConfidence
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An expert revealed the reasons why bitcoin could have a record-breaking year-end
Daniel González, Crypto analyst at Bitso, shared with Cripto247 his opinion on bitcoin's current and future bullish trend.
Bitcoin (BTC) seems to be lined up for an 'Uptober' due to several key factors. Liquidity cycles in the United States are showing signs of easing, which could increase interest in higher-risk assets, such as cryptocurrencies. This, combined with interest rate cuts in both the United States and China - where both central banks have reduced rates to stimulate their economies - offers a more favorable environment for bitcoin's growth.
Interest rate cuts in both economic powers suggest that investors will seek better returns, which could benefit bitcoin by positioning it as an attractive safe haven.
On the other hand, bitcoin tends to enter a period of accumulation with an upward trend before the US presidential elections, which will take place on November 5 of this year. While we may experience significant short-term volatility once the next president is known, history shows that after election certainty, the market tends to rally and drive substantial growth for assets like BTC.
Markets favor certainty, and bitcoin has historically responded positively once political conditions become clear.
In addition, BTC closed September with a return of 7.9%, its best result for that month since 2012. This is a notable milestone, as September is typically the worst month of the year for the asset, known as 'Recktember' or 'SeptemBear'. However, when bitcoin manages to close September in the positive, the following months usually see considerable growth.
#Bitcoin!
#Altacoins
We are already starting to see this trend, with BTC hovering around 69.000 dollars, which reinforces expectations of a strong Uptober.
Daniel González, Crypto analyst at Bitso, shared with Cripto247 his opinion on bitcoin's current and future bullish trend.
Bitcoin (BTC) seems to be lined up for an 'Uptober' due to several key factors. Liquidity cycles in the United States are showing signs of easing, which could increase interest in higher-risk assets, such as cryptocurrencies. This, combined with interest rate cuts in both the United States and China - where both central banks have reduced rates to stimulate their economies - offers a more favorable environment for bitcoin's growth.
Interest rate cuts in both economic powers suggest that investors will seek better returns, which could benefit bitcoin by positioning it as an attractive safe haven.
On the other hand, bitcoin tends to enter a period of accumulation with an upward trend before the US presidential elections, which will take place on November 5 of this year. While we may experience significant short-term volatility once the next president is known, history shows that after election certainty, the market tends to rally and drive substantial growth for assets like BTC.
Markets favor certainty, and bitcoin has historically responded positively once political conditions become clear.
In addition, BTC closed September with a return of 7.9%, its best result for that month since 2012. This is a notable milestone, as September is typically the worst month of the year for the asset, known as 'Recktember' or 'SeptemBear'. However, when bitcoin manages to close September in the positive, the following months usually see considerable growth.
#Bitcoin!
#Altacoins
We are already starting to see this trend, with BTC hovering around 69.000 dollars, which reinforces expectations of a strong Uptober.
See original
Whales Reduce Exposure as Bitcoin Holds Near $68K: What Next?
Bitcoin (BTC) has shown remarkable consolidation ability over the past few weeks, holding in a key zone near $68,000, as large whales begin to reduce their positions. Despite profit-taking by some holders, significant flows into spot Bitcoin ETFs suggest that a new bullish momentum could be underway. However, does this consolidation mark a pause in the market or the prelude to a stronger rally towards all-time highs? In this article, we will analyze the current market dynamics, the role of whales, and possible short- and long-term scenarios for bitcoin.
Bitcoin Rally and Consolidation Near $68K
Since mid-October 2024, bitcoin has shown a solid uptrend, driven by an increase in demand in the spot market. This initial rally led the leading cryptocurrency to approach the $68K mark again, a critical level it has held over the past few days. This behavior highlights the leading cryptocurrency's stability despite fluctuations in other assets and macroeconomic events.
However, as the price of bitcoin (BTC) consolidated in this area, some holders decided to take profits, leading to an increase in inflows to exchanges. According to CryptoQuant data, this behavior typically reflects an intention to sell on the part of investors, which in some cases can foreshadow a short-term correction. In fact, this profit-taking led to a brief drop in price towards $66K, before the asset stabilized again.
Whales' influence on the price of bitcoin
One of the most significant factors that has influenced the recent behavior of the price of Bitcoin has been the activity of whales, i.e. those investors who hold large amounts of BTC
#Bitcoin!
#BTC
Bitcoin (BTC) has shown remarkable consolidation ability over the past few weeks, holding in a key zone near $68,000, as large whales begin to reduce their positions. Despite profit-taking by some holders, significant flows into spot Bitcoin ETFs suggest that a new bullish momentum could be underway. However, does this consolidation mark a pause in the market or the prelude to a stronger rally towards all-time highs? In this article, we will analyze the current market dynamics, the role of whales, and possible short- and long-term scenarios for bitcoin.
Bitcoin Rally and Consolidation Near $68K
Since mid-October 2024, bitcoin has shown a solid uptrend, driven by an increase in demand in the spot market. This initial rally led the leading cryptocurrency to approach the $68K mark again, a critical level it has held over the past few days. This behavior highlights the leading cryptocurrency's stability despite fluctuations in other assets and macroeconomic events.
However, as the price of bitcoin (BTC) consolidated in this area, some holders decided to take profits, leading to an increase in inflows to exchanges. According to CryptoQuant data, this behavior typically reflects an intention to sell on the part of investors, which in some cases can foreshadow a short-term correction. In fact, this profit-taking led to a brief drop in price towards $66K, before the asset stabilized again.
Whales' influence on the price of bitcoin
One of the most significant factors that has influenced the recent behavior of the price of Bitcoin has been the activity of whales, i.e. those investors who hold large amounts of BTC
#Bitcoin!
#BTC
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