Bitcoin crashing further: price action, market structure, and whether gold is telling us where Bitcoin is heading next. Read today’s Bitcoin Strategy newsletter πŸ‘‡
Market Analysis: Is Gold Telling Where Bitcoin Is Going?
Bitcoin Crashing Further: Price Action and Market Structure
Yes, we had a major deleveraging event and it affected the #Bitcoin price. But would you rather hold dollars or euros in the long term? EUR Low: 930 sats β†’ Now: 1049 sats USD Low: 793 sats β†’ Now: 899 sats In euros, the recent low was the first one since Jan 20th of this year, and we’re again fighting the 1,000 sats per EUR level. In dollars, we already had several lows, and are approaching 500 sats per USD even faster. If you're worried about current price action (orange area), you might want to zoom out. This chart is only 2 years of data. image
The biggest liquidation event became a reversal to the STH cost basis. #Bitcoin image
We're in the most bullish quarter of the 4-year cycle. #Bitcoin image
Last week’s ETF inflows were the highest in 22 weeks, 8.8x the new supply issuance. #Bitcoin image
1 USD = 828 Sats. #Bitcoin image
Continuing in the channel. #Bitcoin image
The #Bitcoin Spiral. image
Short-Term Holder cost basis at $108.5k. #Bitcoin image
The quadrant of ATHs. #Bitcoin image