March 29, 2024

TradingView Blog | BTC / USD: ETF is in demand

TradingView Blog | BTC / USD: ETF is in demand

Fundamentally

The first day of Bitcoin ETF trading in the US was marked by extraordinary interestmarket participants. At the end of the session, the turnover of the instrument amounted to 24.1 million shares worth more than $ 1 billion.

"This is an absolute explosion," said Bloomberg Intelligence analyst James Seiffarth.

According to him, many were preparing for high activity, but the real values ​​exceeded all expectations.

Technically

On some exchanges the price has already exceeded the ATH.for example on EXMO. But not on all exchanges yet. Typically, once the ATH is exceeded, significant growth occurs. Immediately after the ATH is exceeded, it is not uncommon for there to be a minor correction.

What about “buy on rumor and sell on news”? Since demand has exceeded all analysts' expectations, it is too positive to sell.

Forecast

The bitcoin rate may rise to $ 87,000 in 2021.

Viola

Perhaps it would be more reasonable to buy a bitcoin that has not taken off, but an alt that has not yet flown in after.