Analysis Crypto by Thebittimes.Com

Bitcoin (BTC) is currently experiencing renewed momentum, with notable buying activity from Bitcoin whales signaling a resurgence of bullish sentiment in the cryptocurrency market.  Despite a minor 3% retreat over the past week, these major investors have shown a strong buying force , reflecting their confidence in Bitcoin’s future prospects. Whales, defined as entities holding between 1,000 and 10,000 BTC and excluding those owned by mining companies and exchanges, play a crucial role in the dynamics of cryptocurrencies. Picks for you 3 cryptocurrencies to avoid trading this week 32 mins ago Bitcoin attack mode: BTC set for $150k after post-halving consolidation 33 mins ago ...

Despite prevailing views that the low amount of a digital asset on cryptocurrency exchanges equals high demand and, therefore, an increase in price, crypto market expert Willy Woo believes that buying up massive amounts of Bitcoin (BTC) from exchanges would not necessarily trigger soaring prices. Specifically, Woo referred to the belief that buying up the inventory of Bitcoin on exchange s would moon the price as a “fallacy,” arguing that “this happened all through the 2022 bear” market, as he explained in an X post published on September 24. Furthermore, the cryptocurrency analyst highlighted that “there’s no supply shock because synthetic BTC via futures markets added to inventory. The market made a bottom when futures markets relented,” demonstrating his views on a chart that represents Bitcoin inventory on crypto exchanges. Bitcoin inventory on exchanges. Source: Willy Woo As he further specified, an investor who wants to buy exposure to BTC “can now buy a futures ETF,” but,...