Bitcoin’s upward momentum could continue according to Asian stablecoin demand and the BTC futures premium.
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Bitcoin’s upward momentum could continue according to Asian stablecoin demand and the BTC futures premium.
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Bitcoin price recaptured the $22,000 level, but pending regulatory action against stablecoins and today’s CPI report are front of mind for many investors.
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Bitcoin price continues to press higher this week as demand for stablecoins and a key BTC price metric suggests bulls have a “healthy appetite.”
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The BTC futures premium remains a topic of concern, but it appears that traders are starting to price similar risks for the upside and downside.
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ETH price bulls struggle as futures remain trading below its fair value, signaling excessive demand for shorts.
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Miners are in deep trouble due to increased hash rate and energy costs, but pro traders slightly added to their longs despite the recent BTC pullback.
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BTC and altcoins could continue to see selling, but a positive is that traders took shelter in stablecoins instead of completely exiting the crypto market.
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BTC price looks to break out of its downtrend, yet pro traders are still unwilling to add leveraged positions.
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