Bitcoin dips before Fed rate hike cues amid warning over $9T balance sheet
BTC price action shows strain as Bitcoin and stocks wait for Fed signals.
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BTC price action shows strain as Bitcoin and stocks wait for Fed signals.
Bitcoin markets are calling for a dip as BTC price action sets a lower high on the daily chart.
Price Analysis Long-term investors use dips in a strong uptrend to buy while short-term investors are fixated on calling a top. In the past few days, data from Glassnode has shown significantly sized Bitcoin (BTC) outflows from Coinbase exchange, which is a sign of accumulation according to analysts. It is encouraging to note that the demand is not limited to one exchange and data from Material Indicators shows buy orders of $100,000 and higher are reaching an all-time high. This shows that the influx of institutional investors and large corporations entering the crypto sector continues...
As the market continues to swell, data shows that big players bought into Bitcoin dip, with heavy orders that may have encouraged BTC pump.
Bitcoin at $50,000 is fair game for large volume buyers as order volumes near all-time highs.