BTC Sell Order Liquidity Concentrated at $96,000, Monthly Close Expected to Achieve Best April Gain in Nearly Four Years
BlockBeats reports that on April 30, according to Cointelegraph, TradingView data shows that Bitcoin is maintaining a narrow range of fluctuations just hours before the monthly close and the release of significant U.S. macroeconomic data. The market is focusing on the first quarter GDP data and the March Personal Consumption Expenditures Price Index (PCE) — the latter being considered the Federal Reserve's preferred inflation indicator. The trading information platform Kobeissi Letter points out that the market consensus predicts a negative GDP growth: "All signs indicate that this will be the first quarterly GDP contraction in the U.S. since the second quarter of 2022." Despite the potential for significant volatility in risk assets, Bitcoin traders remain confident that prices will resume their upward trend.
Renowned trader Cold Blooded Shiller stated: "The next 24 hours will be a decision-making moment for BTC and the S&P 500 index. Bitcoin has the opportunity to break through resistance and reach new highs, and I am inclined to favor a bullish breakout." Cryptocurrency analyst Michaël van de Poppe shares the same view: "Bitcoin is consolidating perfectly, gearing up for the next wave of upward movement." Another trader, Jelle, noted that the sell order liquidity above the current price is mainly concentrated around $96,000, which could become a target for the bulls.
Compared to the weak performance in the first quarter, Bitcoin has risen 15% so far in April, potentially marking the best April gain since 2020. Analyst Rekt Capital pointed out: "Bitcoin is about to complete the monthly close in the $93,300-$96,500 range, which will solidify the current support level. Even if a dip may occur in May (similar to the long lower shadow in December 2024 or January 2025)."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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Updated version 1 - Reports indicate Firmus is considering adjusting its $5 billions IPO plan, while Australia's Maas Group shares plunged 30%.
Reuters, October 8 – On Thursday, Maas Group's (MGH.AX) shares plummeted by as much as 30% following reports that Nvidia (NVDA.O)-backed AI company Firmus is considering adjusting the terms of its much-anticipated $5 billion IPO. The stock fell to AUD 4.47, marking its largest intraday drop and the lowest point since May 6, wiping about AUD 694 million ($483.37 million) off the construction services company’s market capitalization. Key details: - Maas holds a 3.2% stake in the data center operator and had previously pledged an additional AUD 300 million at a per-share price of AUD 230 for both common and preferred stock earlier in August (link). - In an exchange filing, Maas stated that speculation about whether the IPO would proceed as scheduled has put market sentiment under pressure and added that it is not aware of any undisclosed information to explain the trading situation. - Firmus lists OpenAI as an anchor customer and is preparing what would be the second-largest IPO in Australian history (link). Reports earlier this week suggested the company might lower its offering price from AUD 11 per share. - If this listing proceeds smoothly, it would be Australia’s largest IPO in nearly 30 years, second only to the approximately $10 billion IPO by leading telecom operator Telstra (TLS.AX) in 1997. - Prior to Thursday’s sharp drop, Maas Group’s shares had already risen about 44% over the past 12 months, with investors valuing its link to AI-driven data center construction. - Firmus has not yet responded to Reuters’ request for comment. ($1 = AUD 1.4358) (For the convenience of non-English speakers, Reuters provides its reports through automated translation in several other languages. Due to possible inaccuracies or lack of proper context, Reuters does not guarantee the accuracy of automated translations and provides these solely for reader convenience. Reuters assumes no responsibility for any damage or losses arising from the use of automated translation functions.)
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