Bitcoin May Be Nearing a Sell-Side Exhaustion Point

 Visit this link to make money with cryptos with our Expert trading team and get a chance to win Free bitcoin and other cryptocurrencies – https://telegram.me/btctradingclub

Bitcoin analysis suggested that sell pressure would not increase given the historically large contraction in USDT market cap over a 60-day period.

Biggest stablecoin Tether (USDT) has shed $4 billion in market cap in just two months, but history suggests that the downturn is nearly over.

Tether’s 60-day rolling market-cap contraction stays near $4 billion in one of its heaviest drawdowns.

Analysis suggests that the worst of bear-market selling pressure could be over as a result.

Comparison to 2022 bear-market highlights an ongoing RSI divergence.

USDT drawdown puts “acceleration” of Bitcoin selling in doubt

Onchain analytics platform CryptoQuant in a blog post last week flagged market cap “undergoing one of its sharpest contractions on record.”

“The deterioration has also accelerated at the margin: nearly $870 million of USDT supply disappeared over the latest 11-day period, showing that the contraction is not merely a legacy effect from earlier redemptions,” analysts wrote.

We are the Number# 1 Binance Futures Signals Pro Group due to the fact that our signals have high success ratio.

You will receive everything you need for full trade signals, entry price, stop loss, take profit etc.

Follow Our Binance Futures Trading Signals!

Comments

Post a Comment

Popular posts from this blog

Charles Schwab Expands Crypto Access With BTC and ETH Trading

Image
Visit this link and make consistent profit in Binance futures trading, receive free bitcoin trading signals and Cornix trading Bot for the best automated trades – https://telegram.me/progrouptraders Charles Schwab's latest offering is currently unavailable to residents of New York, Louisiana, and users outside the United States. Charles Schwab has started rolling out its new Schwab Crypto accounts to retail clients, allowing users to trade Bitcoin and Ethereum directly through the platform alongside traditional investments, starting Tuesday. The offering is currently available to most residents in the United States, although residents of New York, Louisiana, and US territories are excluded at this stage. Schwab Crypto accounts are also not yet available to international users. Schwab Crypto Rollout According to the announcement, the first group of eligible clients can begin accessing crypto trading. To open a Schwab Crypto account, users must already have an eligible brokerage acco...
Read more

Open Interest Increase Spurs Bitcoin Price Target of $71.5K

Image
Maximize Profits with Binance Futures Trading: Free Bitcoin Trading Signals Binance Futures Trading Bot for Best Automated Trades Join Us: Binance Future Signal Telegram - https://telegram.me/binancefuturesignal Bitcoin may be gearing up to move above $70,000 now it has reclaimed a critical level that traders have been closely watching for the past two months. Bitcoin could be headed toward the $71,500 mark after breaching the $65,000 price point on Tuesday, based on historical patterns as observed by crypto traders.  The price rebound has also increased interest among future traders betting on Bitcoin’s near-term price movements. Massive profits made from this call Binance Futures platform shares the same infrastructure as their spot trading exchange, Binance. Integrating our Cornix trading Bots with your Binance Futures account is quick and easy. It takes only a few minutes to configure, and you never need to grant withdrawal permissions. Use the Binance Futures Cornix Trading Bo...
Read more

Crypto Market Cap Gains $90 Billion !

Image
Visit this link and make consistent profit in Binance futures trading, receive free bitcoin trading signals and Cornix trading Bot for the best automated trades – https://t.me/progrouptraders The crypto market cap is up by roughly $90 billion in a day as bitcoin tapped another three-month high of just under $47,000. Some great profits for the Special Members Daily Futures Signals as per the Market with high a accuracy of 90%+ on an average. If you are too busy for Manual Trading on Binance Futures Market then you can go for the highly powerful Binance Futures Cornix Bot which copies Signals for you as per take profit and stop loss all automatically. Please click on the above link for more details.
Read more