BITCOIN $80,000 - EMERGENCY WEEKEND FOMO KICKS IN – Bitcoin, Ethereum, Altcoins…
Crypto is on fire, trading signals are working, short squeeze in Ethereum....
👇1-10) Our $100,000 Bitcoin target is now within sight (here, here, and here). Our Trading Signals model portfolio has gained 77.8% this year, with live Bitcoin trades initiated on August 27 at $60,270 and Ethereum on September 13 at $2,439. Ethereum short liquidations have reached an exceptional $43 million in the past 24 hours, while its funding rate surged to 28%.
Trading Signals Model Portfolio (here)
👇2-10) Real time market liquidity is increasing from all sides, driving a massive $12bn of inflows during the last week. Historically, this is associated with a +16% return in Bitcoin, hence the recent Bitcoin (and crypto) rally are strongly supported by flows. Stablecoin inflows were nearly $5bn with the ETFs providing the least support but futures leverage has been strong, especially the lower market cap Ethereum is trading with a volatility / market cap ratio of 8.7%, which is extremely high compared to Solana (4.6%) and Bitcoin (2.8%).
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👇3-10) Hence, Ethereum is where all the action is. Volumes in Ethereum have doubled during the last three days. Ethereum has also decisively broken out of the triangle pattern we previously highlighted. See the chart below from our October 15 report (here). Today, Ethereum has touched $3,200.
Ethereum Funding Rate (LHS) vs. Ether (RHS)
