Bitcoin Lacks Sentiment
The disappointment about this rally has been the sentiment. Flows into the Bitcoin ETFs reached 50k BTC ($3 bn), which is good but could have been stronger.
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The disappointment about this rally has been the sentiment. Flows into the Bitcoin ETFs reached 50k BTC ($3 bn), which is good but could have been stronger.
When these signals start to sing, you can either embrace them or ignore them. I vote for the former. If not now, then when?
A break above $80k would bring more confidence, but for the first time in over a year, I can say that things are truly shaping up.
Periods of unusually low volatility don’t last for long and soon lead to a decisive move. That could be up or down, but in Bitcoin’s case, eight out of the nine signals were up.
Major breakouts often follow periods of ultra-low volatility. Normally they are up, but they don’t have to be.
Bitcoin has held up in a tough macro environment with high real rates and a rising dollar. Resilience is bullish.