#bitcoin-What's next?
Big Sunday Report: Everything You Need to Know
🚩TA/LCA/Psychological Crash: It's been a crazy week since the week. Bitcoin has grown 25% since we entered the 77K, and most importantly, Bitcoin has exploded cleanly above the key “hammer line”, which we highlighted in our Sunday report last week as one of the most important areas to watch, and I say sooner or later Bitcoin will break above the “Hammer Line.” Let's understand why we entered the 77K to the current large-scale pump in the 94K area.
One of the main catalysts is the active accumulation of US listed Bitcoin ETFs. On Tuesday alone, the Bitcoin ETF recorded a net inflow of nearly $1 billion, the third largest inflow of the year. From just three trading days, investors invested $1.4 billion into Bitcoin ETFs, showing more institutional hunger for Bitcoin during times of great fear and uncertainty. Bitcoin is competing with stocks and is beginning to follow gold, and stocks have not recovered from the crash, and green numbers can be seen in BTC and Gold! Meanwhile, the Bitcoin liquid supply is drying at an astonishing rate. Over the past few days, exchange reserve situation trends have shown that large buyers are pulling coins out of centralized platforms and moving them into cold storage. OTC tables are also reportedly operating at very thin supply levels, which is an early warning that the main accumulation is happening behind the scenes. Even giants like Fidelity are now publicly warning of the incoming Bitcoin supply shock.
Meanwhile, just a few weeks ago, Binance revealed that it had received strategic reserve inquiries from multiple governments around the world, all requiring Bitcoin consultation. This is a major signal because sovereign entities not only start to see the Bitcoin role as an investment, but also a strategic reserve asset similar to gold. In this case, each country needs its own Bitcoin reserves, how much BTC a country holds? Are there enough Bitcoins in the market? This gives us access to previous supply shock information, which can be felt in these days.
As for the next target, given the current momentum and breakage on the hammer line, next is my target 100k. Since 77K, I said next 100k and we are very close to my goal. Does this mean it will drop after reaching my goal? No, I even think we'll see a new ATH in the next few weeks. Fear is still big in the market, and Bitcoin looks more than just a new leg.
A better fact supports my idea of bullish markets is that the funding rate two days ago was even negative, which means that shorts on the market far outweigh the desire, which is crazy in the BTC priced at 95K area. At present, the market is still not only healthy! I also recommend you join the Premium Membership, and last month we opened the door for the monthly membership option for the first time, allowing you to get things like "Judgement". Most of my updates and market investments are shared in premiums