*The STABLE Act bill, if passed, would require stable coin issuers to comply with Federal reserve and a banking license registration and to follow the same level of regulatory requirements as banks. Similar sentiment is echoed by G7 officials.
*Buy bitcoin google search has recently reached a level not seen since early 2018
*Coinbase's web traffic recently surged to the highest level not seen since April 2019
*Global bitcoin options OI hit another all-time-high recently
*Future traders on Binance are bullish on BTC, but future traders on Bitmex, Okex and Huobi seem to be bearish on BTC
*BTC options expiry on Dec. 25th will be the largest expiry in USD terms
*DEC. CME COT report on BTC indicates that whales' net short has reached all-time high
*BTC 3 month realized volatility is slowly ticking up
*Total DeFi unique addresses have recently surpassed 1 million mark
*SOPR (Spent Output Profit Ratio), Coin Days Destroyed (CDD) and BTC MPI (Miners' Position Index) indicate that the short-term correction is coming while realized price & realized market cap indicate that overall BTC price is in a healthy trend.
I expect the short-term correction to end around 16k or 13k. Historically, BTC has a mixed Q4 performance, but typically performs poorly in Q1 so we could be expecting a slow correction process that may not end until January next year.
*Buy bitcoin google search has recently reached a level not seen since early 2018
*Coinbase's web traffic recently surged to the highest level not seen since April 2019
*Global bitcoin options OI hit another all-time-high recently
*Future traders on Binance are bullish on BTC, but future traders on Bitmex, Okex and Huobi seem to be bearish on BTC
*BTC options expiry on Dec. 25th will be the largest expiry in USD terms
*DEC. CME COT report on BTC indicates that whales' net short has reached all-time high
*BTC 3 month realized volatility is slowly ticking up
*Total DeFi unique addresses have recently surpassed 1 million mark
*SOPR (Spent Output Profit Ratio), Coin Days Destroyed (CDD) and BTC MPI (Miners' Position Index) indicate that the short-term correction is coming while realized price & realized market cap indicate that overall BTC price is in a healthy trend.
I expect the short-term correction to end around 16k or 13k. Historically, BTC has a mixed Q4 performance, but typically performs poorly in Q1 so we could be expecting a slow correction process that may not end until January next year.