Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-soars-as-investors-remain-positive-despite-reduced-short-selling-activity" rel="noopener noreferrer nofollow">Bitcoin Soars as Investors Remain Positive, Despite Reduced Short-Selling Activity</a><br></p>
<p style="text-align: justify">The cryptocurrency sector has seen remarkable growth, with <a href="https://en.bitcoinhaber.net/the-impact-of-fomc-activities-on-bitcoin-and-other-cryptocurrencies" rel="noopener noreferrer nofollow">Bitcoin</a> leading the charge as its value impressively climbed by over 21% since the year’s start. Analysts have noticed a distinct trend where Bitcoin short liquidations are not as frequent as in previous years, sparking conversations about the changing dynamics within the market.</p>
<h2 id="bitcoin-price-surge-and-market-response">Bitcoin Price Surge and Market Response</h2>
<p style="text-align: justify">Beginning the year at approximately $42,000, Bitcoin’s value saw a substantial jump, breaking the $52,000 mark in February for the first time in over two years. Despite this sharp increase, which often leads to sizable short selling, current trends indicate an unusual market behavior. Influential factors such as the ETF movement and the anticipated halving event have been instrumental in this upturn in Bitcoin’s valuation.</p>
<p style="text-align: justify">The Bitfinex Alpha report highlights that the level of short position closures so far this year has been modest relative to the previous year. Bitfinex experts believe that large investors are refraining from placing significant short bets, expecting the upward price trend to persist.</p>
<h2 id="insights-from-the-bitfinex-alpha-report">Insights from the Bitfinex Alpha Report</h2>
<p style="text-align: justify">The report outlines a scenario of dwindling supply paired with soaring demand for Bitcoin. Glassnode’s blockchain data analysis suggests that the available supply for long-term holders is dwindling as prices rise—a signal often associated with the onset of a bull market. The Bitfinex Alpha report points out that less than 6% of Bitcoin held by long-term institutional holders is at a loss, a scenario typically indicative of burgeoning bullish conditions.</p>
<p style="text-align: justify">As per Tradingview statistics, at the time of reporting, the foremost digital currency by market capitalization traded at $51,511. Meanwhile, the GM 30 Index—which tracks the top 30 cryptocurrencies—experienced a slight 0.09% decrease in the past day, settling at 114.14.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-soars-as-investors-remain-positive-despite-reduced-short-selling-activity" rel="noopener noreferrer nofollow">Bitcoin Soars as Investors Remain Positive, Despite Reduced Short-Selling Activity</a></h5>

Bitcoin Soars as Investors Remain Positive, Despite Reduced Short-Selling Activity

Indice dei contenuti

BH NEWS

Altri articoli pubblicati su 20 feb 2024

Bitcoin Stabilizes as STRK Coin Debuts on Major Exchanges

Experts Predict Bullish Future for Cardano (ADA) with Price Consolidation

Crypto Ransomware Operator LockBit Website Taken Down By International Enforcement Agencies

Bitcoin Held By Coinbase Plunges To $20 Billion, Lowest Since 2015

FairMoney explores $20m all-stock acquisition of Umba to expand presence in Nigeria and Kenya

ProBit Global Lists VESTATE, Facilitating Seamless Real Estate Transactions

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!