- The historical correlation between Bitcoin and the U.S. dollar is set for another cameo this bull run.
- Bitcoin is nearing fair value price as long-term holders accumulated more BTC.
Price movement patterns often repeat themselves, which aids in predicting future prices of assets like Bitcoin [BTC] and other cryptocurrencies.
Analyzing the BTC/USD and DXY charts alongside their correlation coefficient revealed a key pattern — when BTC’s monthly correlation with DXY shifts from positive, it signals a major move, but the direction is not certain.
Historically, this has led Bitcoin to the final leg of a bull run 75% of the time or a drop during a bear market 25% of the time.
Source: TradingView
Many analysts are uncertain about Bitcoin’s next direction, but AMBCrypto has the answer. First, Bitcoin’s weekly dominance chart has broken out of a descending trendline, signaling potential strength.
Despite recent price declines, Bitcoin has reclaimed the $60K level. Meanwhile, altcoin market caps appear to have bottomed out and are now starting to trend upward.
This indicated that Bitcoin and other cryptocurrencies may be preparing for a significant upward movement.
Source: TradingView
However, the Spot-Perpetual Price Gap on Binance from CryptoQuant remained negative, showing ongoing selling pressure on Bitcoin.
This gap, driven by aggressive liquidations and short positions, suggested that BTC price was nearing its fair value. This signaled a potential opportunity for investors to buy, indicating Bitcoin was likely heading upward.
Source: CryptoQuant
Bitcoin’s historical risk levels
The chart below highlights a risk level for Bitcoin, helping with long-term buying and selling points in the market. AT press time, the risk level was around 0.5, indicating low risk and a favorable buying opportunity.
Traders and investors can consider dynamic dollar-cost averaging in this region before risk levels rise, signaling the need to sell larger portions.
Source: Into The Cryptoverse
Also, since the 30th of July, over 500,000 BTC have been added to long-term holder wallets, signaling a bullish trend for Bitcoin.
This surge indicated that whales and institutions were actively accumulating Bitcoin, reflecting growing confidence in its future value.
Source: Bitcoin Magazine PRO
Is your portfolio green? Check out the BTC Profit Calculator
Finally, Bitcoin gained momentum over Ethereum at press time. The BTC/ETH market cap ratio has steadily increased in August, indicating stronger accumulation of the king coin.
This trend suggested that Bitcoin was poised for further upward movement.
Source: IntoTheBlock
- The historical correlation between Bitcoin and the U.S. dollar is set for another cameo this bull run.
- Bitcoin is nearing fair value price as long-term holders accumulated more BTC.
Price movement patterns often repeat themselves, which aids in predicting future prices of assets like Bitcoin [BTC] and other cryptocurrencies.
Analyzing the BTC/USD and DXY charts alongside their correlation coefficient revealed a key pattern — when BTC’s monthly correlation with DXY shifts from positive, it signals a major move, but the direction is not certain.
Historically, this has led Bitcoin to the final leg of a bull run 75% of the time or a drop during a bear market 25% of the time.
Source: TradingView
Many analysts are uncertain about Bitcoin’s next direction, but AMBCrypto has the answer. First, Bitcoin’s weekly dominance chart has broken out of a descending trendline, signaling potential strength.
Despite recent price declines, Bitcoin has reclaimed the $60K level. Meanwhile, altcoin market caps appear to have bottomed out and are now starting to trend upward.
This indicated that Bitcoin and other cryptocurrencies may be preparing for a significant upward movement.
Source: TradingView
However, the Spot-Perpetual Price Gap on Binance from CryptoQuant remained negative, showing ongoing selling pressure on Bitcoin.
This gap, driven by aggressive liquidations and short positions, suggested that BTC price was nearing its fair value. This signaled a potential opportunity for investors to buy, indicating Bitcoin was likely heading upward.
Source: CryptoQuant
Bitcoin’s historical risk levels
The chart below highlights a risk level for Bitcoin, helping with long-term buying and selling points in the market. AT press time, the risk level was around 0.5, indicating low risk and a favorable buying opportunity.
Traders and investors can consider dynamic dollar-cost averaging in this region before risk levels rise, signaling the need to sell larger portions.
Source: Into The Cryptoverse
Also, since the 30th of July, over 500,000 BTC have been added to long-term holder wallets, signaling a bullish trend for Bitcoin.
This surge indicated that whales and institutions were actively accumulating Bitcoin, reflecting growing confidence in its future value.
Source: Bitcoin Magazine PRO
Is your portfolio green? Check out the BTC Profit Calculator
Finally, Bitcoin gained momentum over Ethereum at press time. The BTC/ETH market cap ratio has steadily increased in August, indicating stronger accumulation of the king coin.
This trend suggested that Bitcoin was poised for further upward movement.
Source: IntoTheBlock
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Every expert was once a beginner. Keep pushing forward, and one day, you’ll look back and see how far you’ve come. Progress is always happening, even when it doesn’t feel like it.
All knowledge, it is said, comes from experience, but does that not mean that the more we experience, the wiser we become? If wisdom is the understanding of life, then should we not chase every experience we can, taste every flavor, walk every path, and embrace every feeling? Perhaps the greatest tragedy is to live cautiously, never fully opening oneself to the richness of being.
Virtue, they say, lies in the middle, but who among us can truly say where the middle is? Is it a fixed point, or does it shift with time, perception, and context? Perhaps the middle is not a place but a way of moving, a constant balancing act between excess and deficiency. Maybe to be virtuous is not to reach the middle but to dance around it with grace.
Man is said to seek happiness above all else, but what if true happiness comes only when we stop searching for it? It is like trying to catch the wind with our hands—the harder we try, the more it slips through our fingers. Perhaps happiness is not a destination but a state of allowing, of surrendering to the present and realizing that we already have everything we need.
Even the gods, if they exist, must laugh from time to time. Perhaps what we call tragedy is merely comedy from a higher perspective, a joke we are too caught up in to understand. Maybe the wisest among us are not the ones who take life the most seriously, but those who can laugh at its absurdity and find joy even in the darkest moments.
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The potential within all things is a mystery that fascinates me endlessly. A tiny seed already contains within it the entire blueprint of a towering tree, waiting for the right moment to emerge. Does the seed know what it will become? Do we? Or are we all simply waiting for the right conditions to awaken into what we have always been destined to be?