BTC Market Update 7th January
As BTC gears up for a significant shift, historical trends suggest a liquidity migration from altcoins to BTC. Yesterday's data and a thorough BTC scenario analysis lean towards a 'buy the news' stance, supported by bullish indicators in recent days:
📉 Open Interest (OI) Wipeout.
💥 Liquidation clusters favoring shorts, driving momentum.
💰 Tether printing resumes (significantly bullish).
📊 Bitfinex and Coinbase leading the tape, indicating bullish trends.
Flow indicators amplify the positive outlook:
📈 BITO's exposure hits an ATH of 41,000 BTC, with futures-based ETFs seeing a 310% increase in Volatility Share since October.
📊 CME's annualized basis remains above 10%, potentially decreasing post-ETF approvals due to BITO holders shifting exposure and possible redemptions.
Anticipating upcoming news, a surge in BTC may break through short clusters, pushing the price to 48k, possibly extending to 50k. However, profit-taking and the need for new narratives could trigger a retraction until the halving. Post-approval, analysts estimate a one-week timeline for the ETF launch.
Trade Ideas for the Next Move:
📈 Spot ETH ETF Trade: Long ETH/BTC (following the BTC playbook).
🔄 If BTC dominance rises, consider rotating into altcoins during BTC consolidation.
Stay tuned for updates as the crypto landscape unfolds! 🚀💹 #Bitcoin #CryptoAnalysis #ETF #TradingStrategies #CryptoMarkets
📉 Open Interest (OI) Wipeout.
💥 Liquidation clusters favoring shorts, driving momentum.
💰 Tether printing resumes (significantly bullish).
📊 Bitfinex and Coinbase leading the tape, indicating bullish trends.
Flow indicators amplify the positive outlook:
📈 BITO's exposure hits an ATH of 41,000 BTC, with futures-based ETFs seeing a 310% increase in Volatility Share since October.
📊 CME's annualized basis remains above 10%, potentially decreasing post-ETF approvals due to BITO holders shifting exposure and possible redemptions.
Anticipating upcoming news, a surge in BTC may break through short clusters, pushing the price to 48k, possibly extending to 50k. However, profit-taking and the need for new narratives could trigger a retraction until the halving. Post-approval, analysts estimate a one-week timeline for the ETF launch.
Trade Ideas for the Next Move:
📈 Spot ETH ETF Trade: Long ETH/BTC (following the BTC playbook).
🔄 If BTC dominance rises, consider rotating into altcoins during BTC consolidation.
Stay tuned for updates as the crypto landscape unfolds! 🚀💹 #Bitcoin #CryptoAnalysis #ETF #TradingStrategies #CryptoMarkets
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