Two things may result in a Bitcoin blow-off top, says on-chain analyst
Prominent Bitcoin analyst, David Puell, says there are two things that could cause Bitcoin to top out in the future. David Puell, an on-chain analyst and the creator of the Puell Multiple, believes two things could cause Bitcoin (BTC) to see a temporary top this cycle.The analyst pinpointed the U.S. government potentially taxing unrealized gains and the possible approval of a Bitcoin exchange-traded fund (ETF) could cause BTC’s momentum to slow down.Why would an ETF have a negative impact on the short-term Bitcoin price cycle?The potential impact of the U.S. government imposing taxes on....
Related News
Bitcoin on-chain analyst Willy Woo sees three reasons why a blow-off top is unlikely to happen anytime soon for BTC price. Despite Bitcoin's (BTC) steep rally in November, the price is consolidating above $15,000 as on-chain analyst, Willy Woo says a blow-off top is unlikely for three main reasons.The three factors are the growing outflow of funds from exchanges, increase in “HODLers,” and data showing that investors already took profit.Bitcoin is moving from exchanges to individual walletsAccording to the data from Glassnode, a large amount of Bitcoin has been moving out of centralized....
A detailed blow-by-blow of one of the most closely watched governance decisions in the history of DeFi.
Bitcoin’s price action as of late has done little to offer investors with insight into its mid-term outlook. BTC has been trading squarely between the lower and upper boundaries of its long-held trading range between $10,200 and $11,200. Its lack of momentum has struck a serious blow to investor sentiment, causing many investors and analysts […]
A blow-off top may yet appear but market composition has changed and 20% dips are being bought with "aggression," says filbfilb. Bitcoin (BTC) is not far from a blow-off top price implosion but investors are "aggressively" buying the dip.Speaking to Cointelegraph on Jan. 8, popular analyst filbfilb revealed that Bitcoin was due a corrective phase given the pace of recent gains.filbfilb: I don't think we're far from blow-off topOn Thursday, BTC/USD exceeded $40,000 before a spectacular reversal saw a $2,200 drawdown in under give minutes. Thereafter, fresh attempts to flip $40,000 to....
XRP is moving in tandem with the broader crypto trend and has managed to hold above the $3 price level. According to a recent technical analysis by popular crypto chartist Egrag Crypto, XRP’s price action is about to enter a critical stage that will push it well above double digits. Its monthly Relative Strength Index (RSI) is currently playing out what he calls the “Cycle of Three,” which projects an incoming explosive phase. Major Pump, Correction, And Blow-Off Top Egrag’s framework is built around a repeating pattern that’s always taking place on XRP’s monthly RSI indicator.....