Bitcoin (BTC)Crypto News

Crypto Markets Ready For Santa Rally? Top traders are predicting when BTC and digital assets will trigger the rebound

A widely persecuted trader is researching the condition of Bitcoin exactly to determine when the leading Cryptocurrency can start the next stage of their bull cycle.
Leading crypto retailer Light is analyzing the sales-side catalysts Bitcoin (BTC) from All time high from around $ 69,000 to its 30-day low of $ 42,874.

According to Light, objective market participants began selling their holdings after the bulls showed signs of exhaustion around BTC’s all-time highs.

“But when people were bullish to the max, the momentum subsided, the price didn’t last, and then fell back below the high. The caution of objective watchers turned to contempt, and those who didn’t get carried away by the euphoria of new highs sold billions upon billions of dollars in inventory on BTC.
Source: Light / Twitter
While traders and investors are making profits, Light adds that funds that have made big bucks this year also took profits.

“After the year of years that was 2021 for funds everywhere, eyes turned to protecting annual bonuses, selling to reap 20% carry, and covering redemptions from LPs who wanted to take something off the table.”

Lights tells its 103,300 Twitter followers that mounting pressure to sell in an already weak market has triggered a sell-off, with BTC printing a red candle of $ 10,000 on the daily chart.

“Liquidity deteriorated, and finally a trivially predictable cascade of 25% at BTC brought the fear of God into an over-indebted market.”
Crypto Markets Ready For Santa Rally?  Top traders are predicting when BTC and digital assets will trigger the rebound, Crypto Trading NewsSource: Light / Twitter
According to Light, the massive decline has panicked retailers. But just as they are about to leave the BTC market, investors who have sold at the top are now looking to pile up BTC again.

“While the cops were cautious, bears have become aggressive and negatively impacted and built the foundation at some venues for ages.” [open interest]while the big players who have relegated in the $ 60,000 area have reversed course and started to absorb panic and short selling.
Crypto Markets Ready For Santa Rally?  Top traders are predicting when BTC and digital assets will trigger the rebound, Crypto Trading NewsSource: Light / Twitter
Additionally, Light says the funds are almost on sale and now have the cash to place orders to buy in January.

“BTC has taken 35% back and hit a historic range of values, while leverage has returned to constructive levels and participants are back in cash. It is the bears who will probably soon turn out to be stone-free. “

The cryptocurrency trader concludes that next month’s events are poised for a strong cryptocurrency rebound as it sees selling pressure from Asia also ease by the end of the year.

“Sales in Asia drove the market which will subside after the end of the year when Huobi / OKEx remove the majority of mainland users … by the end of the year and then blue skies.”
Check price promotion

.

Source: Crypto News Deutsch

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button