Ethereum

Bitcoin

Hedge

BlackRock

As cryptocurrency markets continue their rise, with Bitcoin (BTC) breaking above $67,000 after its quadrennial halving event, altcoins are poised to squeeze short positions, according to a leading hedge fund.
<h2 id="altcoins-are-preparing-to-squeeze-short-positions-according-to-hedge-fund">Altcoins Are Preparing to Squeeze Short Positions, According to Hedge Fund</h2>
Bitcoin reached the $67,000 milestone, rising over 3% in the last 24 hours following its halving event over the weekend. Meanwhile, Ethereum (ETH) posted a more modest gain of 1.5% over the same period, trading above $3,200
Digital asset-focused stocks also rose, with shares of Coinbase (COIN) and MicroStrategy (MSTR) gaining 7% and 12%, respectively.
Public miners such as Riot Platforms (RIOT) and Hut 8 (HUT) witnessed significant gains of 15% to 20%, while Marathon Digital (MARA) advanced 6% on a trading spree that spurred fee increases, a major source of income for miners.
Related News: <a href="https://en.bitcoinsistemi.com/blackrock-predicts-how-much-the-fed-will-cut-interest-rates-this-year/" target="_blank" rel="noopener noreferrer nofollow">BlackRock Predicts How Much The Fed Will Cut Interest Rates This Year</a>
Markus Thielen, founder of 10x Research, warned of potential market weakness in the short term as miners offload their BTC inventories to maintain operational stability following post-halving revenue disruptions.
However, looking ahead, historical models show a bullish trend for Bitcoin prices around 50-100 days after the halving events, providing an opportunity for BTC bulls to establish larger long positions, according to crypto hedge fund QCP Capital.
Additionally, QCP Capital highlighted that funding rates on leveraged derivatives trading have fallen and some smaller cryptocurrencies are experiencing negative funding rates, potentially indicating an environment ripe for a short squeeze.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/altcoins-can-liquidate-short-positions-as-bitcoin-approaches-68000-according-to-analysts/" rel="noopener noreferrer nofollow">Altcoins Can Liquidate Short Positions as Bitcoin Approaches $68,000, According to Analysts!</a>

Altcoins Can Liquidate Short Positions as Bitcoin Approaches $68,000, According to Analysts!

Tabla de contenidos

Bitcoin Sistemi EN

Otros artículos publicados el 23 abr 2024

Capital inflows into spot Bitcoin ETFs reach $62m

29 Days To Bitcoin Halving: Is Shiba Inu Price Eyeing Another Huge Rally? BUY SHIB NOW?

Thailand Enhances Online Security by Regulating Crypto Platforms

Akash Network (AKT) surges 48% following Upbit listing

StarkNet Crypto Airdrop: How to be eligible for STRK Airdrop?

April’s E-Commerce Highlight: Pushd’s Presale Attracts Bittensor Investors, Setting New Global Hi...

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!