Yello, ParadiseClub Members! đ Have you been keeping track of the latest trends in the Bitcoin market? Letâs dive into the recent developments:
đOver the past 18 days, weâve seen a resurgence in demand from Short-Term Holders (STH), even though the supply change oscillator is still in the negative zone. Supply growth has reached 15%, which breaks down to about 0.95% per day. Importantly, weâve managed to neutralize the strong $BTC sell walls for the last 18 months in the Bitcoin market.
đAccording to our ParadiseTeam Professional Traders, the long-term outlook for the Bitcoin market is promising. However, in the short term, weâve hit new all-time highs in Bitcoin futures open interest. This brings two key points to consider; The increased leverage means a higher chance of volatile shake-outs, so be cautious. As Bitcoin continues to grow, the impact of these metrics will only get larger, simply due to the Bitcoin market scale. If you’re holding spot positions, be patient and avoid FOMOâpullbacks are likely to happen.
Stay focused, patient, and disciplined Paradisersđ„
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