Is it not somewhat poetic? Bitcoin Breaking a new level at all on Bitcoin Pizza Pizza?
For the first time ever, BTC crossed $ 110,000And, which means that these two legendary pizza will now be worth more than $ 1.1 billion.
This is emotional. I don’t know. Feel like … a moment of complete circle.
So what does BTC pay this high? A few big things.
First, the United States Significant commercial deals With both China and the United Kingdom, which Global economic tensions have eased That weighs the markets (including encryption).
Cold commercial wars → Rising risk appetite → bitcoin does something.
Second, institutional investments continue to grow.
Since last Wednesday, Bitcoin’s investment funds were withdrawn at another $ 2.2 billion in flows.
More demand = more price pressure up.
And you know what is the best part? It is possible that the gathering is not yet.
We talked about that yesterdayAnd Cryptoquant Crypto Dan Consistently.
It was broken by using some of the main indicators that help measuring whether the market has risen – or if there is still room for growth.
1/ financing rate
This is the fees that traders pay when they use the leverage in the futures market.
When it is high, this usually means that everyone is betting on the prices that rise (also known as going for a long time), and the market becomes excessively optimistic.
But at the present time, despite the increase in long positions, the financing rate is still Relatively low compared to the previous bull run = The futures market market does not show a kind of high temperature, which usually leads to correction.
2/ Treatment activity in the short term
This gives a sense of the amount of “fast money” that enters the market, such as new traders who chase the gathering.
Now, this activity is not affected by the way it occurred during the high levels at all.
In short: the momentum is built, but it is not dusted with impulsive merchants (so far).
3/ Short -term holders are not panic
Usually, when Bitcoin strikes the highest new level, many people who recently bought profits.
But this time? Not much. Even whales shook her.
So yes, while retracting We are Possible, this range still looks like the medium more than the end 🚀
