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  • Bitcoin / Crypto Liquidity Surges to $61.9 Billion – Critical Week Looms for Year-End Market Direction.

Bitcoin / Crypto Liquidity Surges to $61.9 Billion – Critical Week Looms for Year-End Market Direction.

Institutional Crypto Research Written by Experts

Author

Markus Thielen
August 25, 2024

👇1-12) Last week, we anticipated a breakout from Bitcoin's symmetrical triangle pattern, forecasting a rally towards $65,000. Our prediction has already yielded a 9% return, with prices approaching this target. We are in a dynamic, hit-and-run market environment where swift, tactical trades can yield significant gains. In this phase, accurately predicting macroeconomic events is essential to capitalize on opportunities as long as Bitcoin continues to trade within a broad sideways range.

Bitcoin in a $56,000 to $70,000 trading range - Key Week ahead

👇2-12) We expected the FOMC minutes released last Wednesday to be dovish, with Fed Chair Powell likely highlighting the weakness in the labor market. Both of these developments were expected to be interpreted as dovish, fueling a surge in Bitcoin. Our prediction was right on target, resulting in an excellent return.

👇3-12) We also highlighted Bitcoin's underperformance compared to the Nasdaq, which has been trading flat. The market’s attention is now shifting to NVIDIA’s upcoming earnings and guidance, with options pricing in a potential move of +/-8%, similar to the volatility observed after the last earnings release. Last week’s Bitcoin rally was a textbook example from a technical standpoint, supported by macroeconomic developments and cross-market analysis.

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