Jamie Coutts: Why this Bitcoin rally has the potential to reach prev ATH pre-halving
2024/02/10 20:32
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🚀Why this
Bitcoin rally has the potential to reach prev ATH pre-halving:
1. All the extreme leverage and positioning from Q4 has been cleansed (for now). Options OI is down 40%, and
Futures funding rates are still positive but less exuberant
2. ETFs continue to outpace supply by at least 2:1 and the halving is still months away
3. Only 10% of the volume moved at prices above the current level.
If BTC breaches $48.2k there is scant overhead resistance.
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