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Wen moon? Data shows pro traders becoming more bullish on Bitcoin price
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The $4,700 Bitcoin (BTC) price spike on Nov. 29 was likely a great relief for holders, but it seems premature to call the bottom according to derivative metrics.
This should not come as a surprise because Bitcoin price is still 15% below the $69,000 all-time high set on Nov. 10. Just 15 days later, the cryptocurrency was testing the $53,500 support after an abrupt 22% correction.
Today’s trend reversal was possibly encouraged by MicroStrategy’s announcement that it had acquired 7,002 Bitcoin on Monday at an average price of $59,187 per coin. The listed company raised money by selling 571,001 shares between Oct. 1 and Nov. 29, raising a total of $414.4 million in cash.
More bullish news came after German stock market operator Deutsche Boerse
Read more on cointelegraph.comAbout this in other media
Look out below! Analysts eye $40K Bitcoin price after today’s dip to $45.7K cointelegraph.com /2 years ago
Bitcoin price slips below $47K as stocks, crypto prepare for this week’s FOMC meeting cointelegraph.com /2 years ago
‘Monster bull move’ means whales could secure the next Bitcoin price surge cointelegraph.com /2 years ago
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