Bitcoin on chain and options data hint at a decisive move in BTC price
1. Key topics analyzed from the article are: - Bitcoin's on-chain data seems to point towards a potential upward price movement due to decreasing selling pressure from long-term holders. - Market players' options data indicates a significant price swing in the coming week,with a higher bias for a price increase. - Despite the short-term speculations,the long-term outlook of Bitcoin remains positive due to increased institutional adoption and dwindling fiat currency values.
2. In the first topic,the article suggests that the long-term holders' selling pressure in the Bitcoin market has been decreasing. Historically,whenever long-term holders tend to sell,Bitcoin's price slides down. However,with the current trend indicating less selling pressure,BTC's price may encounter an upward price momentum. The on-chain data shows that the net Unrealized Profit and Loss (NUPL) has declined from its recent high to close to zero,indicating that long-term holders are either holding onto their assets or selling them in small amounts.
3. The second topic is focused on the market players' options data pointing to Bitcoin's significant price swing in the coming week. The options market's skew is pointing towards a higher chance of Bitcoin's potential upside price movement,given the present economic uncertainly due to COVID-19 and the upcoming US elections. The data confirms the speculation that either bulls will push its price above $11,000,or bears will take over and push it below $10,000. This short-term volatility can result in mass liquidations of long or short positions,which can lead to massive waves in the Bitcoin market.
4. The third topic emphasizes that despite the short-term volatility,Bitcoin's long-term outlook remains positive,especially amid institutional interest in the asset. The current global economic environment portrays a bleak picture for fiat currency values,which is resulting in an increase in Bitcoin's trading volume. Besides,more institutional investors are beginning to diversify their assets,opting to buy Bitcoin in response to the weakest global economy since the 2008 financial crisis. The article cites the example of MicroStrategy's CEO,Michael Saylor,stating that fiat currency is "a melting ice cube" yielding no returns,while Bitcoin is "a hundred times better" than gold.
source https://titdoi.com/news/Bitcoin-on-chain-and-options-data-hint-at-a-decisive-move-in-BTC-price
2. In the first topic,the article suggests that the long-term holders' selling pressure in the Bitcoin market has been decreasing. Historically,whenever long-term holders tend to sell,Bitcoin's price slides down. However,with the current trend indicating less selling pressure,BTC's price may encounter an upward price momentum. The on-chain data shows that the net Unrealized Profit and Loss (NUPL) has declined from its recent high to close to zero,indicating that long-term holders are either holding onto their assets or selling them in small amounts.
3. The second topic is focused on the market players' options data pointing to Bitcoin's significant price swing in the coming week. The options market's skew is pointing towards a higher chance of Bitcoin's potential upside price movement,given the present economic uncertainly due to COVID-19 and the upcoming US elections. The data confirms the speculation that either bulls will push its price above $11,000,or bears will take over and push it below $10,000. This short-term volatility can result in mass liquidations of long or short positions,which can lead to massive waves in the Bitcoin market.
4. The third topic emphasizes that despite the short-term volatility,Bitcoin's long-term outlook remains positive,especially amid institutional interest in the asset. The current global economic environment portrays a bleak picture for fiat currency values,which is resulting in an increase in Bitcoin's trading volume. Besides,more institutional investors are beginning to diversify their assets,opting to buy Bitcoin in response to the weakest global economy since the 2008 financial crisis. The article cites the example of MicroStrategy's CEO,Michael Saylor,stating that fiat currency is "a melting ice cube" yielding no returns,while Bitcoin is "a hundred times better" than gold.
source https://titdoi.com/news/Bitcoin-on-chain-and-options-data-hint-at-a-decisive-move-in-BTC-price
ความคิดเห็น
แสดงความคิดเห็น