BitcoinLong
Bitcoin at Highest Level Since 2021
Bitcoin is at it's highest price in 1,144 days. Respect to those who remained here all 1,144 days.
In recent weeks we consolidated within the value range of 38k to 48k. Our premise was simple: price over 35k is high-timeframe (HTF) bullish, and over 32k is healthy- keep stacking. This week started spicy for one reason – this morning price broke January’s highs, and is currently (at the time of writing) at nearly $49,000, the highest we’ve seen since late 2021.
Semantics: Sentiment cooled off over the past month, but remained overall positive. The Bitcoin ETFs provided a boost to the perception of Bitcoin and crypto markets, and Bitcoin ETFs are now the SECOND LARGEST ETF commodity in the US after Gold.
Its probably safe to say that with these developments, the number of long term holders with conviction in Bitcoin and crypto is rising. Additionally, with Grayscale selling pressure waning, this removes a significant pressure to upward movement, which will further boost sentiment.
In recent weeks we consolidated within the value range of 38k to 48k. Our premise was simple: price over 35k is high-timeframe (HTF) bullish, and over 32k is healthy- keep stacking. This week started spicy for one reason – this morning price broke January’s highs, and is currently (at the time of writing) at nearly $49,000, the highest we’ve seen since late 2021.
Semantics: Sentiment cooled off over the past month, but remained overall positive. The Bitcoin ETFs provided a boost to the perception of Bitcoin and crypto markets, and Bitcoin ETFs are now the SECOND LARGEST ETF commodity in the US after Gold.
Its probably safe to say that with these developments, the number of long term holders with conviction in Bitcoin and crypto is rising. Additionally, with Grayscale selling pressure waning, this removes a significant pressure to upward movement, which will further boost sentiment.
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