Por ZyCrypto - Hace 2 años - Tiempo de lectura: 2 minutos
Masivo Bitcoin Outflows Rock Crypto Exchanges As Charts Signal Extreme Bullish Winter
Bitcoin continues to exude strength despite the price being 38% below its all-time high. This strength is however being attributed to several reasons that experts argue are key recipes in igniting a sustained bull run this winter.
Bitcoin Outflows Surge
One glaring development has been the abrupt rise in Bitcoin outflows this week. According to the latest data by Cryptoquant, over 26,300 BTC was taken out of exchanges on Wednesday, with IntotheBlock reporting a 30,054 BTC outflow on Monday. The last time such a huge depletion happened was in September 2021, ushering in a bull market that saw a price surge by over 66%.
Exchange outflows are considered bullish for the market as they are seen as reducing the risk of selling Bitcoin, leading to a price plunge. Outflows also captivate more buying which is essential in adding steam to any crypto price rise.
Una Fed indecisa
Con la Fed perdiendo cada vez más el gusto de su ciudadanía debido a su indecisión a pesar del aumento de la inflación, experts now believe Bitcoin could take a front seat dada su narrativa antiinflacionaria.
According to Bloomberg’s Mike McGlone, whereas a possible interest rate hike could briefly impact Bitcoin’s price ascent, the cryptocurrency is most likely going to come out strongly.
“The Fed Put May Have Expired vs. Bitcoin’s Supply, Set by Code – Bitcoin faces a challenge in 2022 vs. declining risk-assets, but the crypto has potential to endure, we believe,” el argumenta.
Jurrien Timmer, director de Global Macro Fidelity, dice que no le sorprende que las criptomonedas se hayan corregido. Él atribuye esto a la postura agresiva de la Fed sobre la inflación, lo que ha llevado a que las jugadas de impulso impulsadas por la liquidez permanezcan bajo presión.
Bitcoin’s Key inflection Point
Basándose en su argumento en su modelo S-Curve, Timmer está convencido de que Bitcoin has already dipped at $40,000. According to his model, Bitcoin’s dormancy indicator shows that the asset is already oversold at $40,000 just like it was at $30,000.
“All in all, these charts tell me that Bitcoin should have both technical and fundamental support at $40k. It doesn’t mean it can’t go lower, but it looks like $40k is the new $30k.”
Su argumento cuenta con la colaboración adicional de Flori Márquez, cofundadora de Blockfi. Durante una entrevista reciente con CNBC, dijo: “The two-year return as of today, Bitcoin is actually up 416%, so this $40K level is actually very exciting for most crypto investors.”
En el momento de la impresión, Bitcoin has already bounced off the $40,000 level and is exchanging hands at $43,000 with exchanges displaying a significant imbalance between the prices of demand and supply as buyers continue to pile up.
Fuente original: ZyCrypto