Key Crypto Developments Are Hiding Behind Bitcoin’s Rally
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| By Beth Canova |
Last week, our analysts were looking for a broad market cooldown. After all, nothing can go up in a straight line and crypto had been on a tear for over a month.
But bullish sentiment is still going strong. Despite Bitcoin (BTC, “A”) trading sideways for a few days, there just isn’t an appetite for selling.
Why? Well …
MicroStrategy Sits on $2 Billion Open Bitcoin Gains
Marija Matic explains some of the bullish factors that have contributed to BTC’s incredible recent price action, breaking down the on-chain data and wallet activity that reveal just how exciting this week has been. She also points out an interesting chart pattern that could mean continued big moves for Bitcoin … and the broad market.
While Marija looked at the current data, Dr. Bruce Ng takes things a step further. He breaks down the technical levels and looks to Bitcoin derivatives to give you a sense of what to expect from the broad market in the coming weeks.
These 5 NFT Disruptions Are Signals of New Growth Potential
Beyond Bitcoin, the NFT sector has been making impressive strides. No longer just vehicles for digital artwork ownership, NFTs are making moves to add real utility to new projects, expanding the realm of what’s possible with these exciting crypto assets. Jurica Dujmovic reveals the five developments in the sector he sees as having the biggest impact on NFT success in the coming year.
Bitcoin’s Recent Rally Is Bigger Than Just Price Action
While we’re all excited by the impressive kickoff to this bull market, there’s more to take note of than just price action. Indeed, Bitcoin’s rally is actually hiding three key reasons you should be more confident in the future of crypto as a legitimate financial system with lasting power.
Bitcoin Could See Another 4 Weeks of Fireworks
Money printing by the People’s Bank of China has sent gold to a new all-time high and Bitcoin into an extended rally that brought the price straight past resistance at $40,000. This extended rally means it’ll be difficult to pinpoint the end, but that’s a near-term concern. Juan Villaverde is more concerned with how Bitcoin reacts to global liquidity infusions like this … because he anticipates more of them in 2024.
The near-term headlines and price action, as well as fundamentals and long-term macro forces are all pointing in the same direction at the moment: up. Time to prepare for the big run is running out, so I hope you’re ready when it comes.
Best,
Beth Canova
Crypto Managing Editor
