$BTC
We are seeing a price action well within expectations, both for #BTC and for Altcoins.
The selling pressure on Bitcoin from the ETFs has stabilized with last Friday having inflows of approximately $71 million, this begins to show that the worst has passed and a broader recovery is what we should expect. The ETH ETFs also accumulated gains just in the last week of $312 million.
There were large purchases from whales (besides the LONGs opened by them) and also today Saylor bought once again, demonstrating that the OPTIMISM is gradually returning to the market.
The BULLS are close to making a good weekly close, which will put us in a position to start December with a decent recovery. We need this complete recovery in December so that we can finally start an Altseason...
We now have a 55% chance of Kevin Hasset being the new President of the FED, which directly favors the Crypto sector, as his macroeconomic vision is extremely optimistic for the markets and especially for Crypto.
We will have Atkins approving altcoin ETFs more broadly, which will bring renewed attention from institutions to Altcoins. It looks very promising from here.
THE THOUGHT REMAINS THE SAME:
Although I like the prices in this region, we have not yet reached the decision point (in my opinion); I believe that $98 thousand is the value that will lead us to a definitive decision, so I am patiently waiting for this level; we should get there by the end of the first or second week of December.
Bitcoin's dominance has increased considerably, which has reduced the strength of the altcoins, but this should change soon, and the altcoins should appreciate more quickly, resulting in a much stronger recovery than that of BTC, naturally.
Keep an eye on $98 thousand; that’s where things happen. We will get there!
We are seeing a price action well within expectations, both for #BTC and for Altcoins.
The selling pressure on Bitcoin from the ETFs has stabilized with last Friday having inflows of approximately $71 million, this begins to show that the worst has passed and a broader recovery is what we should expect. The ETH ETFs also accumulated gains just in the last week of $312 million.
There were large purchases from whales (besides the LONGs opened by them) and also today Saylor bought once again, demonstrating that the OPTIMISM is gradually returning to the market.
The BULLS are close to making a good weekly close, which will put us in a position to start December with a decent recovery. We need this complete recovery in December so that we can finally start an Altseason...
We now have a 55% chance of Kevin Hasset being the new President of the FED, which directly favors the Crypto sector, as his macroeconomic vision is extremely optimistic for the markets and especially for Crypto.
We will have Atkins approving altcoin ETFs more broadly, which will bring renewed attention from institutions to Altcoins. It looks very promising from here.
THE THOUGHT REMAINS THE SAME:
Although I like the prices in this region, we have not yet reached the decision point (in my opinion); I believe that $98 thousand is the value that will lead us to a definitive decision, so I am patiently waiting for this level; we should get there by the end of the first or second week of December.
Bitcoin's dominance has increased considerably, which has reduced the strength of the altcoins, but this should change soon, and the altcoins should appreciate more quickly, resulting in a much stronger recovery than that of BTC, naturally.
Keep an eye on $98 thousand; that’s where things happen. We will get there!