The Stakes Are High!!! Critical Dates for Bitcoin Traders

Institutional Crypto Research Written by Experts

👇1-14) Many of our 10x Research subscribers sold Bitcoin in the $64,000 to $68,000 range and are now waiting for favorable re-entry levels. We anticipated a break from the $60,000-$70,000 Bitcoin range, but a new, potentially much lower range has yet to be established. The recent dip had us itching to buy, but our back test of Monday's significant intraday move suggested caution.

👇2-14) Additional selling from Jump Trading was noted on Wednesday (besides Sunday/Monday), with the risk manager taking control of positions and showing less concern about where prices would get filled. The persistent liquidation pressure from various players remains a significant concern for Ethereum.

👇3-14) Instead of seizing the dip opportunity, Bitcoin Spot ETFs have experienced continuous outflows recently, with no significant inflows from stablecoins. The absence of buyers during this dip is alarming and raises concerns about the market's direction.

The Stakes Are High: Bullish > 57,000? And Bearish < 55,000?

👇4-14) Yesterday, we noted Bitcoin's attempted rebound but highlighted the significant resistance in the $56,000-$57,000 range, a barrier to the rally sparked by the Japanese central bank's statement. However, the Bank of Japan has not pressed the rewind button, only the ‘pause’ button, as they will likely hike rates again. Our key message emphasized that even if the market moves past the hype surrounding the Japanese carry trade news, the downside risk for the Nasdaq persists, and Bitcoin could see further declines.