Is This Bitcoin Indicator Predicting A Crash???

Author

Markus Thielen
May 02, 2024

Ride the wave of 23% compounded annual growth

That’s the forecasted growth rate of the smart shades between 2023-2033. And RYSE’s automated window shade tech is positioned to dominate the market. They’ve generated over 20X growth in share price for early shareholders, with significant upside remaining as they launch in over 100 Best Buy stores. Invest in the rapidly growing smart shades market →

Is This Bitcoin Indicator Predicting A Crash???

👇1-11) We have been expecting a severe Bitcoin correction, and many of our 10x Research subscribers either closed out their longs at 68,300 or some even went short. The signs were all there that the Bitcoin bull market was losing momentum. Now everybody is asking how steep the fall will be.

👇2-11) The average Bitcoin ETF buyer is now underwater. Many institutional investors will struggle to justify allocating more capital to those ETFs without an immediate upside catalyst, such as the halving. Despite brand names such as BlackRock leading the ETF field, many portfolio managers likely had an uphill battle when they asked for Bitcoin ETF risk limits.

Bitcoin ETF Holders Are Liquidating – Guess Who Collapses Next….

👇3-11) Those risk limits or allocation discussions will be more challenging as Bitcoin trades lower than those investors’ entry prices. This is likely confirmed by the $550m of net selling we saw last night, with all Bitcoin ETFs seeing outflows. In fact, since the Bitcoin halving, we have seen $1.1bn of outflows, a sign that many ‘crypto tourists’ were only temporarily allocated into Bitcoin. The indicator below could predict much lower Bitcoin prices, and we explain why:

Trade Smarter, Not Harder: Leveraging RPCs for Competitive Advantage

QuickNode RPC enables seamless interaction with blockchain data, facilitating swift transactions and smart contract executions. This powerful tool empowers users to build dynamic DeFi applications, optimize trading strategies, and incorporate blockchain technology into their digital infrastructure, all while ensuring data accuracy and operational efficiency. QuickNode is the fastest provider and the expert in performance.

Market Updates

Become a paying subscriber of Market Updates to get access to this post and other subscriber-only content.

Already a paying subscriber? Sign In.

Most comprehensive, unbiased digital asset research for traders and institutions:

  • • Receive 2-4 concise, informative Market Updates reports per week.
  • • We cover everything that impacts the price of Bitcoin and other major cryptos, from on-chain data to macro and market structure (funding rates, money flows, etc.). Our insights are trusted by some of the largest hedge funds and traders in the industry.
  • • You'll gain full access to our in-depth 'Market Update' analysis, informed by our experience at leading investment banks like Goldman Sachs, Morgan Stanley, and JP Morgan, as well as managing hedge fund capital at Millennium.
  • • We rigorously backtest our insights and are unafraid to call bullish or bearish market conditions. Our research is unique and grounded in solid financial analysis, offering perspectives you won't find anywhere else.
  • • --------------
  • • Our clients include hedge funds, traders, liquidity providers, exchanges, family offices, proprietary traders, institutions, high-net-worth individuals (HNWIs), CEOs of major listed Bitcoin mining companies, executives from crypto service providers, TradeFi portfolio managers, etc.