๐ผWhy Is the Market Rising?
Overall, this is a question that crypto traders have been asking themselves regularly over the past couple of months, after the bear market, people arenโt used to frequent gains and are constantly expecting a drop.
In fact, there were no specific news drivers, but if you look at the chart, donโt forget that the market structure has changed. Locally, weโre in a sideways trend: after holding the support level, we began to gradually rebound, and this morning we saw a surge.
Plus, last night on Binance, there was a significant imbalance in the order book: $93 million in buy orders versus $27.5 million in sell orders. In other words, there were roughly three times as many buyers as sellerss - which means an uptrend.
#XRPPostsFirstThreeGreenMonthsInQ3 #USSeptemberPayrollsAdd29KUnemploymentRises4.2% #BitcoinFundingRateTriplesTo10% #NFPWatch
Overall, this is a question that crypto traders have been asking themselves regularly over the past couple of months, after the bear market, people arenโt used to frequent gains and are constantly expecting a drop.
In fact, there were no specific news drivers, but if you look at the chart, donโt forget that the market structure has changed. Locally, weโre in a sideways trend: after holding the support level, we began to gradually rebound, and this morning we saw a surge.
Plus, last night on Binance, there was a significant imbalance in the order book: $93 million in buy orders versus $27.5 million in sell orders. In other words, there were roughly three times as many buyers as sellerss - which means an uptrend.
#XRPPostsFirstThreeGreenMonthsInQ3 #USSeptemberPayrollsAdd29KUnemploymentRises4.2% #BitcoinFundingRateTriplesTo10% #NFPWatch