Will $30K BTC price hold? Bitcoin investors wary of an impending recession and financing costs according to derivatives data, says noshitcoins.
Bitcoin price rallied over 10% between April 9 and April 14, marking the highest daily close in more than ten months. While some analysts may argue the move justifies a degree of decoupling from traditional markets, both the S&P 500 and gold are near their highest levels in over six months.Bitcoin’s gains and rally above $30,000 also happened while the dollar strength index , which measures the U.S. currency against a basket of foreign exchanges, reached its lowest level in 12 months.
Furthermore, China's latest macroeconomic data showed an encouraging trend, with exports increasing 14.8% year on year in March, snapping a five-month decline and surprising economists who expected a 7% decline. As a result, China's trade balance for March was $89.2 billion, far exceeding the $39.2 billion market consensus.
OKX, for instance, provides a margin lending indicator based on the stablecoin/BTC ratio. Traders can increase exposure by borrowing stablecoins to buy Bitcoin. On the other hand, Bitcoin borrowers can only bet on the decline of a cryptocurrency's price.The above chart shows that OKX traders' margin lending ratio decreased between April 9 and April 11. That is extremely healthy as it shows no leverage has been used to support Bitcoin's price gains, at least not using margin markets.
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Bitcoin derivatives data shows bulls positioning for further BTC price upsideThis week’s CPI and PPI report show U.S. inflation continuing to drop and even though investors are expecting a recession by 2024, Bitcoin price continues to press higher. noshitcoins explains.
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Bitcoin (BTC) May Be in for Short-Term Price Correction, Analyst WarnsPotential brief price correction looms for Bitcoin, crypto analysts believe. $BTC ali_charts CryptoMichNL adam3us
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BTC price targets see $33K next as Bitcoin eyes key resistance flipBitcoin analysts hope that $33,000 will be the next BTC price target.
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Lark Davis Names Big Money Maker in Crypto – Not Bitcoin (BTC).TheCryptoLark shared his take on what will be the 'big money makers' in crypto for years to come. Bitcoin $BTC
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Bitcoin (BTC) Might Reach $32,000 Based on This Chart Validation PatternThis chart pattern suggests bullish outlook for Bitcoin (BTC) with $32K within reach BTC $BTC
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UK forms Bitcoin Policy org to boost BTC education and adoptionThe newly formed United Kingdom Bitcoin Policy Organization has its work cut out to catch up on the hash rate with the United States.
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