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#BTC
Hedge Fund Bitoin is in RECORD SHORT.
They need more than 100k BTC to recover their shorts.
At some points they need to rebuy that amount. If they are failed to break down 62k, this will result A HUGE SHORT SQUEEZE imo.
which one will take advantage when BTC breaks up ATH ?
#ORDI & its BRC20 friends.
The worst case: 60k broken => Triangle failed. BTC will take much time ahead in sideway range.
The good case: 80k ~50% the height of triangle.
The perfect case: 90-100k ~ 100% the height of triangle.
I'm looking for the good case first.
An interesting spotlight today #Ethena #ENA
https://twitter.com/AndreCronjeTech/status/1775398490404724914?t=W4LswkWoiffa4AEB_A24GQ&s=19
https://twitter.com/DWFVentures/status/1775357566467576266?t=GRstsBezMFt7auNIQxiFdg&s=19
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Eyes in Alts related to Bitcoin Ecosystem in Halving month 👀
#T #TUSDT
Godfather of DeFi in Bullrun 2020 just commented this.
The hint is clear
Back to the bullrun 2020, BTC had pre-run from 11k to 20k ~ 77% then consolidated at 20k (previous ATH). Next It ran quickly and massively to 40k (2x of 20k) in 1 month.
The scenario can be applied for current situation. 70k x 2 ~ 140k in short time 🤝
A problem with ALts now is BTC dominance is likely to break out.
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Being traded around 66666/3333 in past 1 month but market sentiment changed continuously
A new change today is BTC funding matrix almost reset to normal level.
BTC dropped 5% today.
Back to 66666 level.
Over leverage alt positions got swept out. Funding almost reset.
There is still nothing to do with BTC till 14th April.
#AEVO is to be chosen for this summer even whole market will be boring.
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Solana season 2024 = ETH Defi season 2021
https://www.binance.com/en/support/announcement/c6977b2280e1494dba71ac192eae7786?utm_source=AnnouncementTG&utm_medium=GlobalCommunity&utm_campaign=AnnouncementBot
It's the end of the quarter & Tether bought 8,888 #Bitcoin
Last buy was on 12/31, also 8,888 $BTC.
ETHBTC monthly bars almost unchanged in past 5 months.
I am expecting a bold green move in April due to the hype of ETH ETF Spot.