BTC/USD: Focus on spot market volume
Bitcoin's recent leg higher from 30K to 
48K is accompanied by falling volumes (falling trendline on volume chart) on Coinbase, which is considered synonymous with institutions and high net worth individuals/entities.
As such, it looks to be a leverage-driven rally, which makes BTC vulnerable to overheating of funding rates (cost of holding longs).
Unless spot market volumes pick up, BTC now looks set for a pullback to 42K. I dont need to say that it will be a buying opportunity for long-term investors.
48K is accompanied by falling volumes (falling trendline on volume chart) on Coinbase, which is considered synonymous with institutions and high net worth individuals/entities. As such, it looks to be a leverage-driven rally, which makes BTC vulnerable to overheating of funding rates (cost of holding longs).
Unless spot market volumes pick up, BTC now looks set for a pullback to 42K. I dont need to say that it will be a buying opportunity for long-term investors.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.