Matrixport
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đđ $BTC #Matrixport highlights an imminent significant move in Bitcoinâs price following the Federal Reserveâs decision, focusing on key technical levels and market anticipation.
đ $BTC #Matrixport : Bitcoin Rally Fueled by Spot Buying as Futures Traders Hesitate.
Despite Bitcoin's 10% rally over the past week, the funding rate has turned negative, indicating that the rally is being driven by actual Bitcoin buying in the spot market rather than leveraged trading in the futures market.
If prices continue to rise, futures traders are likely to turn bullish, pushing the funding rate positive and potentially driving prices even higher.
Despite Bitcoin's 10% rally over the past week, the funding rate has turned negative, indicating that the rally is being driven by actual Bitcoin buying in the spot market rather than leveraged trading in the futures market.
If prices continue to rise, futures traders are likely to turn bullish, pushing the funding rate positive and potentially driving prices even higher.
Matrixport Research: BTC Could Reach $42k with BlackRockâs ETF Approval
Post By: CryptosHeadlines.com
Bitcoinâs price remained above $28,000 after a bounce back to $30,000. This recovery was driven by false news about the approval of a spot Bitcoin ETF.Bitcoinâs price is still in the positive territory several days after rumors circulated about the SEC approving a Bitcoin spot exchange-traded fund (ETF) proposal by BlackRock, which pushed the digital currency up to $30,000.
Although the brief surge in price following the false news revealed the importance of a Bitcoin spot ETF for the next bull run, Bitcoinâs price retraced from $30,000. However, bulls have managed to maintain support at $28,000.
Currently, Bitcoin is trading at $28,440 with substantial trading volume of $10 billion and a market capitalization of $555 billion, and it has remained relatively stable over the past 24 hours.
Could BlackRockâs Spot ETF Approval Send BTC to $42k?
All eyes are on the possible approval of the first Bitcoin spot ETF by the SEC in the U.S., especially after the agency gave the green light to several Ethereum futures ETFs earlier this month. A Bitcoin spot ETF is significant because it would allow both regular retail and institutional investors to get exposure to Bitcoin without the need to hold the actual cryptocurrency.
In simpler terms, investors wouldnât have to deal with the complexities of crypto exchanges or wallet setups. They could easily get exposure by buying shares of a Bitcoin ETF through a regular brokerage account. This accessibility is why the approval of a Bitcoin spot ETF would be a game changer for the crypto industry.
A recent report by Matrixport suggests that if the SEC approves BlackRockâs proposal, Bitcoinâs price could see a substantial increase to $42,000. Chinese crypto journalist Wu Blockchain even mentioned an optimistic estimate of Bitcoin reaching $56,000 with an influx of $50 billion.
The Matrixport report is based on a survey of around 15,000 U.S. registered investor advisors overseeing approximately $5 trillion. The report suggests that if Tetherâs market cap increases by $24 billion, serving as an indicator of potential ETF inflows, Bitcoin could rise to $42,000 as a conservative estimate. With a larger influx of $50 billion (equivalent to a 1% allocation from RIAs), Bitcoin could potentially rally to $56,000.
Bitcoin Price Targets Short-Term Breakout to $30,000
Bitcoinâs price is currently under the control of bullish sentiment, supported by the Moving Average Convergence Divergence (MACD) indicator signaling a buy on the daily chart. Moreover, the price is comfortably above several key moving averages, including the 21-day Exponential Moving Average (red), the 100-day EMA (blue), and the 200-day EMA (purple).
BTC/USD daily chart | Tradingview
If the bulls maintain their support at $28,000, this could encourage more retail traders to invest in Bitcoin, as they become less apprehensive about potential losses, thanks to the optimistic outlook for gains beyond $30,000.
At this point, a break above $30,000 suggests that Bitcoin might retest its 2023 high of $31,860. This level will be crucial in determining whether the bulls can push the price towards $42,000 or if it will remain within the range, with primary support around $25,000.
Important:Â Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#Matrixport #BTC #BlackRock #ETF #BitcoinETF
Bitcoinâs price remained above $28,000 after a bounce back to $30,000. This recovery was driven by false news about the approval of a spot Bitcoin ETF.Bitcoinâs price is still in the positive territory several days after rumors circulated about the SEC approving a Bitcoin spot exchange-traded fund (ETF) proposal by BlackRock, which pushed the digital currency up to $30,000.
Although the brief surge in price following the false news revealed the importance of a Bitcoin spot ETF for the next bull run, Bitcoinâs price retraced from $30,000. However, bulls have managed to maintain support at $28,000.
Currently, Bitcoin is trading at $28,440 with substantial trading volume of $10 billion and a market capitalization of $555 billion, and it has remained relatively stable over the past 24 hours.
Could BlackRockâs Spot ETF Approval Send BTC to $42k?
All eyes are on the possible approval of the first Bitcoin spot ETF by the SEC in the U.S., especially after the agency gave the green light to several Ethereum futures ETFs earlier this month. A Bitcoin spot ETF is significant because it would allow both regular retail and institutional investors to get exposure to Bitcoin without the need to hold the actual cryptocurrency.
In simpler terms, investors wouldnât have to deal with the complexities of crypto exchanges or wallet setups. They could easily get exposure by buying shares of a Bitcoin ETF through a regular brokerage account. This accessibility is why the approval of a Bitcoin spot ETF would be a game changer for the crypto industry.
A recent report by Matrixport suggests that if the SEC approves BlackRockâs proposal, Bitcoinâs price could see a substantial increase to $42,000. Chinese crypto journalist Wu Blockchain even mentioned an optimistic estimate of Bitcoin reaching $56,000 with an influx of $50 billion.
The Matrixport report is based on a survey of around 15,000 U.S. registered investor advisors overseeing approximately $5 trillion. The report suggests that if Tetherâs market cap increases by $24 billion, serving as an indicator of potential ETF inflows, Bitcoin could rise to $42,000 as a conservative estimate. With a larger influx of $50 billion (equivalent to a 1% allocation from RIAs), Bitcoin could potentially rally to $56,000.
Bitcoin Price Targets Short-Term Breakout to $30,000
Bitcoinâs price is currently under the control of bullish sentiment, supported by the Moving Average Convergence Divergence (MACD) indicator signaling a buy on the daily chart. Moreover, the price is comfortably above several key moving averages, including the 21-day Exponential Moving Average (red), the 100-day EMA (blue), and the 200-day EMA (purple).
BTC/USD daily chart | Tradingview
If the bulls maintain their support at $28,000, this could encourage more retail traders to invest in Bitcoin, as they become less apprehensive about potential losses, thanks to the optimistic outlook for gains beyond $30,000.
At this point, a break above $30,000 suggests that Bitcoin might retest its 2023 high of $31,860. This level will be crucial in determining whether the bulls can push the price towards $42,000 or if it will remain within the range, with primary support around $25,000.
Important:Â Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#Matrixport #BTC #BlackRock #ETF #BitcoinETF
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đ Matrixport analysts predict that the approval of a spot Bitcoin ETF from BlackRock will lead to an influx of up to $50 billion into the industry. In this case, the price of Bitcoin could reach $56,000.
#ĐżŃĐŸĐłĐœĐŸĐ· #Matrixport #ETF
#ĐżŃĐŸĐłĐœĐŸĐ· #Matrixport #ETF
Matrixport Predicts Bitcoin Will Reach $45K in 2023 Due to FOMO Signals
Post By: CryptosHeadlines.com
According to Matrixport, a cryptocurrency services provider, Bitcoin is maintaining its course to reach $45,000 by the conclusion of this year.Bitcoin (BTC) is anticipated to continue its growth, potentially reaching $45,000 by the end of this year. This positive outlook is driven by the sustained high futures funding rates, indicating strong bullish sentiment among traders.
Cryptocurrency services provider Matrixport highlighted this observation in an X post on October 24, characterizing the Bitcoin futures market as being strongly influenced by FOMO (Fear of Missing Out).
Data from Coinglass shows that BTC futures funding rates experienced a notable surge after surpassing the $33,000 mark. Currently, out of the nine major cryptocurrency exchanges, only one exhibits a negative funding rate, implying that the majority of traders are optimistic about a potential continuation of the rally.
Matrixport, relying on its trading models, maintains that its 2023 Bitcoin target of $45,000 is still feasible. This confidence is supported by Bitcoinâs current dominance at 52.1% and trading volumes reaching $29 billion in under 24 hours.
Additionally, potential factors contributing to a Bitcoin rally include the progress toward a spot Bitcoin ETF, exemplified by BlackRockâs iShares Bitcoin Trust listing on the Depository Trust and Clearing Corporation (DTCC). This development signifies advancements in bringing a Bitcoin ETF to U.S. markets. While some, like lawyer John E.
Deaton, anticipate Bitcoin ETF approval by the end of the year or early 2024, the ongoing SEC discussions with Bitcoin ETF applicants could present a strategic move to gather more information, possibly for devising a rationale for rejecting the spot ETF.
Important:Â Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#Bitcoin #CryptoNews #Matrixport #FOMO #BitcoinETF
According to Matrixport, a cryptocurrency services provider, Bitcoin is maintaining its course to reach $45,000 by the conclusion of this year.Bitcoin (BTC) is anticipated to continue its growth, potentially reaching $45,000 by the end of this year. This positive outlook is driven by the sustained high futures funding rates, indicating strong bullish sentiment among traders.
Cryptocurrency services provider Matrixport highlighted this observation in an X post on October 24, characterizing the Bitcoin futures market as being strongly influenced by FOMO (Fear of Missing Out).
Data from Coinglass shows that BTC futures funding rates experienced a notable surge after surpassing the $33,000 mark. Currently, out of the nine major cryptocurrency exchanges, only one exhibits a negative funding rate, implying that the majority of traders are optimistic about a potential continuation of the rally.
Matrixport, relying on its trading models, maintains that its 2023 Bitcoin target of $45,000 is still feasible. This confidence is supported by Bitcoinâs current dominance at 52.1% and trading volumes reaching $29 billion in under 24 hours.
Additionally, potential factors contributing to a Bitcoin rally include the progress toward a spot Bitcoin ETF, exemplified by BlackRockâs iShares Bitcoin Trust listing on the Depository Trust and Clearing Corporation (DTCC). This development signifies advancements in bringing a Bitcoin ETF to U.S. markets. While some, like lawyer John E.
Deaton, anticipate Bitcoin ETF approval by the end of the year or early 2024, the ongoing SEC discussions with Bitcoin ETF applicants could present a strategic move to gather more information, possibly for devising a rationale for rejecting the spot ETF.
Important:Â Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#Bitcoin #CryptoNews #Matrixport #FOMO #BitcoinETF
đ Cryptocurrency service provider Matrixport predicts that "macroeconomic conditions will drive the rise in Bitcoin (BTC) prices next year." The report anticipates a 2% decrease in the U.S. Consumer Price Index (CPI) and a 75bp interest rate cut by the Federal Reserve in the coming year. These factors, along with rising expectations for the approval of a BTC spot ETF in January, are expected to contribute to the increase in BTC prices. The ETF approval decision is anticipated to be announced between January 8-10. đđ #Matrixport #BitcoinPrice #BTCETFApproval đđą
đŁ Co-founder of #Matrixport to the account today's nightmare:
"The latest report was intended to be prepared for Matrixport clients. However, its widespread media dissemination was not intended by Matrixport and is beyond our control.
When analyzing the history of #Bitcoin and its prospects for the future, the current volatility and potential uncertainty of Bitcoin #ETF approval in January 2024 is ultimately irrelevant. In the long run, Bitcoin will always prevail. In my opinion, SEC approval of the Spot ETF, which will attract new investment into Bitcoin, is imminent. Bitcoin is poised to cement its position as a value store and risk-protection asset superior to gold. It is worth noting that at the beginning of 2023, Matrixport was one of the few who accurately predicted the low point of #BTC and held an extremely bullish position."
"The latest report was intended to be prepared for Matrixport clients. However, its widespread media dissemination was not intended by Matrixport and is beyond our control.
When analyzing the history of #Bitcoin and its prospects for the future, the current volatility and potential uncertainty of Bitcoin #ETF approval in January 2024 is ultimately irrelevant. In the long run, Bitcoin will always prevail. In my opinion, SEC approval of the Spot ETF, which will attract new investment into Bitcoin, is imminent. Bitcoin is poised to cement its position as a value store and risk-protection asset superior to gold. It is worth noting that at the beginning of 2023, Matrixport was one of the few who accurately predicted the low point of #BTC and held an extremely bullish position."
Matrixport Predicts Bitcoin To Hit $45,000 By Year-End
Matrixport, a cryptocurrency investment firm, has raised its Bitcoin short-term forecast to $36,000. Markus Thielen, the head of research at Matrixport, announced the news on the official channel on March 19th, stating that as Bitcoin reaches the previous target of $28,000, the firm adjusts the short-term price target level.
The price forecast is expected to be reached this summer, with the year-end price expected to be $45,000. Thielen explained that Bitcoin is performing better than Ethereum as a macroeconomic liquidity narrative is formed that is particularly favorable to Bitcoin.
The global cryptocurrency market capitalization also increased by 10.1% from the previous week to $1.23 trillion, exceeding the 50-day moving average of $1.11 trillion. Bitcoinâs market share for the week also recorded 43.2%, higher than the 50-day average of 40.7%.
Moreover, the global cryptocurrency trading volume also increased by 97.6% to $180.7 billion, exceeding the 50-day average of $91.4 billion. The weekly Bitcoin trading volume was 90% above average, and the ETH trading volume was 206% above average.
Interestingly, the number of active Bitcoin addresses increased 10% over the week to 861,000, while the number of active Ethereum addresses decreased by 3.7% to 676,000. However, Ethereum weekly transaction fees rose 22.9% from the average, indicating a high level of network activity.
It is worth noting that the cryptocurrency market has been subject to volatility over the past few months, but the recent announcement by Matrixport has provided a bullish signal for Bitcoinâs short-term future. The market capitalization of Ethereum has also increased, indicating an overall upward trend.
Investors are eagerly watching the market, waiting to see whether the predictions made by Matrixport come to fruition. If Bitcoin does indeed reach the short-term price target of $36,000 this summer, it could provide a significant boost to the overall cryptocurrency market.
#BTC #bitcoin #Matrixport #crypto2023 #azcoinnews
This article was republished from azcoinnews.com
The price forecast is expected to be reached this summer, with the year-end price expected to be $45,000. Thielen explained that Bitcoin is performing better than Ethereum as a macroeconomic liquidity narrative is formed that is particularly favorable to Bitcoin.
The global cryptocurrency market capitalization also increased by 10.1% from the previous week to $1.23 trillion, exceeding the 50-day moving average of $1.11 trillion. Bitcoinâs market share for the week also recorded 43.2%, higher than the 50-day average of 40.7%.
Moreover, the global cryptocurrency trading volume also increased by 97.6% to $180.7 billion, exceeding the 50-day average of $91.4 billion. The weekly Bitcoin trading volume was 90% above average, and the ETH trading volume was 206% above average.
Interestingly, the number of active Bitcoin addresses increased 10% over the week to 861,000, while the number of active Ethereum addresses decreased by 3.7% to 676,000. However, Ethereum weekly transaction fees rose 22.9% from the average, indicating a high level of network activity.
It is worth noting that the cryptocurrency market has been subject to volatility over the past few months, but the recent announcement by Matrixport has provided a bullish signal for Bitcoinâs short-term future. The market capitalization of Ethereum has also increased, indicating an overall upward trend.
Investors are eagerly watching the market, waiting to see whether the predictions made by Matrixport come to fruition. If Bitcoin does indeed reach the short-term price target of $36,000 this summer, it could provide a significant boost to the overall cryptocurrency market.
#BTC #bitcoin #Matrixport #crypto2023 #azcoinnews
This article was republished from azcoinnews.com
#Matrixport predicts that the price of #Bitcoin will surpass $120,000 by the end of 2024.
The đžđŹ Singapore-based crypto financial services platform cited a confluence of factors including the halving and increased holding by miners âïž as potential catalysts.
#BTC #crypto2024 #cryptohustle
The đžđŹ Singapore-based crypto financial services platform cited a confluence of factors including the halving and increased holding by miners âïž as potential catalysts.
#BTC #crypto2024 #cryptohustle
đđ Matrixport Report Thread đđ
Hey Crypto Fam! đ
Matrixport just dropped insights predicting SEC's Bitcoin ETF stance! đ§ Brace yourselves for the teaâ
Rare view alert! đš Matrixport hints at SEC rejecting Bitcoin spot ETFs in January. But hold on, final approval might be on the horizon in Q2! đ
Price predictions? đ Matrixport forecasts Bitcoin at $36,000 to $38,000. Time for strategic moves, they suggest. đ€đž
What's in their toolkit? 𧰠Matrixport recommends put options or going short on Bitcoin. đđĄ
Numbers game: Matrixport's insights have turned heads before. Their track record makes this prediction worth a second look! đđ
Personal take: Predictions are like crypto weather forecasts. Always stay informed but be ready for surprises! đ§ïžđ
Fun fact: Did you know, Matrixport was founded by Bitmain's co-founder? Talk about crypto roots! đ±đ»
What's your play on these predictions? Bullish, bearish, or just enjoying the show? Share your thoughts! đŁïžđ #Matrixport #CryptoInsights #BTC #etf
Hey Crypto Fam! đ
Matrixport just dropped insights predicting SEC's Bitcoin ETF stance! đ§ Brace yourselves for the teaâ
Rare view alert! đš Matrixport hints at SEC rejecting Bitcoin spot ETFs in January. But hold on, final approval might be on the horizon in Q2! đ
Price predictions? đ Matrixport forecasts Bitcoin at $36,000 to $38,000. Time for strategic moves, they suggest. đ€đž
What's in their toolkit? 𧰠Matrixport recommends put options or going short on Bitcoin. đđĄ
Numbers game: Matrixport's insights have turned heads before. Their track record makes this prediction worth a second look! đđ
Personal take: Predictions are like crypto weather forecasts. Always stay informed but be ready for surprises! đ§ïžđ
Fun fact: Did you know, Matrixport was founded by Bitmain's co-founder? Talk about crypto roots! đ±đ»
What's your play on these predictions? Bullish, bearish, or just enjoying the show? Share your thoughts! đŁïžđ #Matrixport #CryptoInsights #BTC #etf
đ Matrixport, a crypto service provider, detects growing FOMO sentiment in the market. Funding rates in Bitcoin perpetual futures are up, signifying spreading FOMO. Bitcoin dominance at 52.1%, and 24-hour trading volume reaches $29 billion. Analysts predict BTC may rise to $45,000 this year. đđ #bitcoinworld #Matrixport #BTC đȘđ°
Matrixport highlights Solana's affordability as a key advantage in meme coin hype, compared to Ethereum's high GAS fees until Dencun upgrade.
#solana #memecoin #Matrixport
#solana #memecoin #Matrixport
Matrixport Predicts Bitcoin to Reach $45K in 2023 and $125K by 2024-end
Post By: CryptosHeadlines.com
Recent data from Matrixport predicts that Bitcoin could achieve a price of $45,000 in 2023 and soar to $125,000 by the end of 2024. This forecast comes following a robust post-halving rally that has maintained strong support from Bitcoin bulls.As a result, Bitcoin has been edging closer to the $35,000 mark, which has, in turn, triggered a broader cryptocurrency market upswing. The global cryptocurrency market capitalization has experienced a 1% increase in the last 24 hours, bringing it to approximately $1.27 trillion.
Notably, both Bitcoin and Ethereum have surpassed key levels, with Bitcoin above $34,000 and Ethereum above $1,800. Matrixportâs report emphasizes the potential for Bitcoin to reach $45,000 in 2023 and a more substantial $125,000 by December 2024.
Matrixport: Bitcoin in 5th Bull Market, Predicts Significant Price Gains
Matrixport, a prominent research firm, suggests that Bitcoin is currently in its 5th bull market, driven primarily by institutional adoption. This bullish trend began in June of the current year when Bitcoin reached its yearly high.
According to Matrixportâs analysis, Bitcoin is anticipated to reach $45,000 in 2023. The firmâs earlier research indicates that approval of the BlackRock Bitcoin ETF could push Bitcoinâs price to $42,000, and a $50 billion influx could propel it to $56,000.
The report highlights how Bitcoinâs qualities, traditionally linked to assets like gold and safe-haven investments such as Treasury bonds, are now attracting institutions looking to diversify their asset portfolios.
Moreover, Matrixport predicts that Bitcoinâs price will soar to $125,000 by December 2024, more than six months following the Bitcoin halving event. Interestingly, the report notes that October 2022 presented an excellent opportunity for purchasing Bitcoin, as it was trading at $17,000.
The broader crypto market is experiencing substantial trading volumes, largely attributed to increased interest from investors and whales, especially amid the excitement surrounding Bitcoin ETFs. While some traders and analysts anticipate another opportunity to buy Bitcoin below $32,000, the cryptocurrency has remained resilient above this level.
Standard Chartered and Binance CEO CZ Predict Bullish Bitcoin Future
Financial institution Standard Chartered and Binance CEO CZ have shared their bullish predictions for Bitcoinâs future. Standard Chartered forecasts that the cryptocurrencyâs price could reach $50,000 by the yearâs end and potentially exceed $120,000 in the following year. Meanwhile, CZ also anticipates a post-halving rally for Bitcoin based on historical data.
As of the latest data, the price of Bitcoin is currently at $34,313, having moved relatively sideways over the past 24 hours following a significant rally. During this time, it reached a low of $33,983 and a high of $35,133, with a 20% decrease in trading volume over the past 24 hours.
Important:Â Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#Bitcoin #CryptoNews #Matrixport #ETF #BitcoinETF
Recent data from Matrixport predicts that Bitcoin could achieve a price of $45,000 in 2023 and soar to $125,000 by the end of 2024. This forecast comes following a robust post-halving rally that has maintained strong support from Bitcoin bulls.As a result, Bitcoin has been edging closer to the $35,000 mark, which has, in turn, triggered a broader cryptocurrency market upswing. The global cryptocurrency market capitalization has experienced a 1% increase in the last 24 hours, bringing it to approximately $1.27 trillion.
Notably, both Bitcoin and Ethereum have surpassed key levels, with Bitcoin above $34,000 and Ethereum above $1,800. Matrixportâs report emphasizes the potential for Bitcoin to reach $45,000 in 2023 and a more substantial $125,000 by December 2024.
Matrixport: Bitcoin in 5th Bull Market, Predicts Significant Price Gains
Matrixport, a prominent research firm, suggests that Bitcoin is currently in its 5th bull market, driven primarily by institutional adoption. This bullish trend began in June of the current year when Bitcoin reached its yearly high.
According to Matrixportâs analysis, Bitcoin is anticipated to reach $45,000 in 2023. The firmâs earlier research indicates that approval of the BlackRock Bitcoin ETF could push Bitcoinâs price to $42,000, and a $50 billion influx could propel it to $56,000.
The report highlights how Bitcoinâs qualities, traditionally linked to assets like gold and safe-haven investments such as Treasury bonds, are now attracting institutions looking to diversify their asset portfolios.
Moreover, Matrixport predicts that Bitcoinâs price will soar to $125,000 by December 2024, more than six months following the Bitcoin halving event. Interestingly, the report notes that October 2022 presented an excellent opportunity for purchasing Bitcoin, as it was trading at $17,000.
The broader crypto market is experiencing substantial trading volumes, largely attributed to increased interest from investors and whales, especially amid the excitement surrounding Bitcoin ETFs. While some traders and analysts anticipate another opportunity to buy Bitcoin below $32,000, the cryptocurrency has remained resilient above this level.
Standard Chartered and Binance CEO CZ Predict Bullish Bitcoin Future
Financial institution Standard Chartered and Binance CEO CZ have shared their bullish predictions for Bitcoinâs future. Standard Chartered forecasts that the cryptocurrencyâs price could reach $50,000 by the yearâs end and potentially exceed $120,000 in the following year. Meanwhile, CZ also anticipates a post-halving rally for Bitcoin based on historical data.
As of the latest data, the price of Bitcoin is currently at $34,313, having moved relatively sideways over the past 24 hours following a significant rally. During this time, it reached a low of $33,983 and a high of $35,133, with a 20% decrease in trading volume over the past 24 hours.
Important:Â Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#Bitcoin #CryptoNews #Matrixport #ETF #BitcoinETF
đ $BTC #Matrixport : Our MP Bitcoin Greed & Fear Index (grey line) has reached the lowest level possible. This momentum indicator has reached a level from which a rebound has tended to occur, as long as Bitcoin was in a bull market.
Although the moving average (black line) of this indicator is still declining and ideally, we would also want to see the moving average turning up before buying.
Although the moving average (black line) of this indicator is still declining and ideally, we would also want to see the moving average turning up before buying.
Matrixport Anticipates $1 Trillion Growth in Stablecoin Market by 2030
In a forward-looking statement, Matrixport, a leading #cryptocurrency financial services company, envisions the stablecoin market reaching $1 trillion by 2030. According to their analysis, despite existing challenges like centralization, cross-chain security vulnerabilities, and transparency issues, potential improvements could be achieved through omnichain expansion, the implementation of on-chain reserve proof, and increased decentralization. #Matrixport believes that addressing these obstacles will pave the way for substantial growth in the stablecoin sector over the next decade.
In a forward-looking statement, Matrixport, a leading #cryptocurrency financial services company, envisions the stablecoin market reaching $1 trillion by 2030. According to their analysis, despite existing challenges like centralization, cross-chain security vulnerabilities, and transparency issues, potential improvements could be achieved through omnichain expansion, the implementation of on-chain reserve proof, and increased decentralization. #Matrixport believes that addressing these obstacles will pave the way for substantial growth in the stablecoin sector over the next decade.
đâ $BTC #Matrixport : Hash Rate Rebound Signals Better Bitcoin Outlook
The Bitcoin Mining Hash Rate has historically served as a leading indicator for Bitcoin rallies, as seen a year ago, and it also signaled a potential decline in May 2024. Recently, some miners appear to have shut down unprofitable machines. However, the rebound in the Hash Rate suggests that miner stress may be limited.
Despite this, daily miner revenue remains low at $32 million, compared to $73 million around the April 20, 2024, halving day.
The Bitcoin Mining Hash Rate has historically served as a leading indicator for Bitcoin rallies, as seen a year ago, and it also signaled a potential decline in May 2024. Recently, some miners appear to have shut down unprofitable machines. However, the rebound in the Hash Rate suggests that miner stress may be limited.
Despite this, daily miner revenue remains low at $32 million, compared to $73 million around the April 20, 2024, halving day.
Why #CryptoMarket Crashed Today..?
#Matrixport , a crypto-financial service platform, has been notably optimistic about the approval of a spot #BitcoinETF this month.
However, the firmâs recent report suggests a shift in sentiment, speculating that the US Securities and Exchange Commission (#SEC ) may reject any proposals in January 2024.
January Blues for Crypto?
The growing anticipation within the crypto community for the approval of a Bitcoin #ETFs has had a tremendous effect on the industry, which has recovered from the downturn of 2022. An approval is also expected to potentially open new avenues for mainstream investors to participate in the digital asset market.
As such, several experts, as well as Matrixport, have been fairly bullish on this front.
However, in its latest report, Matrixport highlighted that the current leadership overseeing the approval of ETFs at the SEC consists of a five-person voting Commissioners team, primarily composed of Democrats.
What If the SEC Denies Spot Bitcoin Approval Again?
It is important to note that traders began betting on the approval of an ETF in September 2023, which translates to a substantial influx of at least $14 billion in fiat and leverage has been directed into the market.
Some of these capital inflows may be linked to more favorable macroeconomic conditions resulting from the Federal Reserve adopting a dovish stance, according to the report.
In the event of a denial by the SEC, the report anticipates potential cascading liquidations, especially with expectations that a significant portion of the additional $5.1 billion in perpetual long Bitcoin futures might be unwound. This scenario could lead to a rapid 20% decline in Bitcoin prices, reverting to the $36,000/$38,000 range.
Should there be no news of approvals by Friday, January 5, 2024, experts advise the traders to hedge their long exposure by acquiring $40,000 strike puts for the end of January or consider taking outright short positions on Bitcoin through options.
Always DYOR and Trade with StopLoss in $BTC
#Matrixport , a crypto-financial service platform, has been notably optimistic about the approval of a spot #BitcoinETF this month.
However, the firmâs recent report suggests a shift in sentiment, speculating that the US Securities and Exchange Commission (#SEC ) may reject any proposals in January 2024.
January Blues for Crypto?
The growing anticipation within the crypto community for the approval of a Bitcoin #ETFs has had a tremendous effect on the industry, which has recovered from the downturn of 2022. An approval is also expected to potentially open new avenues for mainstream investors to participate in the digital asset market.
As such, several experts, as well as Matrixport, have been fairly bullish on this front.
However, in its latest report, Matrixport highlighted that the current leadership overseeing the approval of ETFs at the SEC consists of a five-person voting Commissioners team, primarily composed of Democrats.
What If the SEC Denies Spot Bitcoin Approval Again?
It is important to note that traders began betting on the approval of an ETF in September 2023, which translates to a substantial influx of at least $14 billion in fiat and leverage has been directed into the market.
Some of these capital inflows may be linked to more favorable macroeconomic conditions resulting from the Federal Reserve adopting a dovish stance, according to the report.
In the event of a denial by the SEC, the report anticipates potential cascading liquidations, especially with expectations that a significant portion of the additional $5.1 billion in perpetual long Bitcoin futures might be unwound. This scenario could lead to a rapid 20% decline in Bitcoin prices, reverting to the $36,000/$38,000 range.
Should there be no news of approvals by Friday, January 5, 2024, experts advise the traders to hedge their long exposure by acquiring $40,000 strike puts for the end of January or consider taking outright short positions on Bitcoin through options.
Always DYOR and Trade with StopLoss in $BTC
