$BITCOIN's Surge and Divergence from $BTC Price Trends
The recent 12% surge in $BITCOIN (hpos10i) within the last 24 hours has caught the attention of many. This shift is believed to be a result of misinformation regarding the approval of a spot $BTC ETF.
While $BTC experienced its own flux, jumping from $27.5k to $29.5k before settling around $28.5k, $BITCOIN had a different trajectory. Initially rising from $0.06 to $0.07, it fell back to $0.06 soon after the news was debunked. Impressively, it managed to climb back, now trading at $0.076.
Several insights can be drawn from this disparity. $BITCOIN enjoys strong community backing, exhibits a high correlation with $BTC price shifts, and, as of now, cannot be shorted.
The investment patterns of the "smart money" are also noteworthy. For instance, the wallet associated with fembro.eth sold $10k of their $BITCOIN during the peak. Despite this sale, they still hold a sizable $525k in $BITCOIN, having already cashed in on an approximate $120k through trading this token.
For those interested in a deeper dive into their portfolio, the details can be found on @loch_chain.
$BITCOIN's Surge and Divergence from $BTC Price Trends
The recent 12% surge in $BITCOIN (hpos10i) within the last 24 hours has caught the attention of many. This shift is believed to be a result of misinformation regarding the approval of a spot $BTC ETF.
While $BTC experienced its own flux, jumping from $27.5k to $29.5k before settling around $28.5k, $BITCOIN had a different trajectory. Initially rising from $0.06 to $0.07, it fell back to $0.06 soon after the news was debunked. Impressively, it managed to climb back, now trading at $0.076.
Several insights can be drawn from this disparity. $BITCOIN enjoys strong community backing, exhibits a high correlation with $BTC price shifts, and, as of now, cannot be shorted.
The investment patterns of the "smart money" are also noteworthy. For instance, the wallet associated with fembro.eth sold $10k of their $BITCOIN during the peak. Despite this sale, they still hold a sizable $525k in $BITCOIN, having already cashed in on an approximate $120k through trading this token.
For those interested in a deeper dive into their portfolio, the details can be found on @loch_chain.
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$BITCOIN's Surge and Divergence from $BTC Price Trends
Oct 17, 2023
$BITCOIN's Surge and Divergence from $BTC Price Trends
Oct 17, 2023