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# Looming Bitcoin Golden Intersection: Where Will the BTC Shiba Inu (SHIB) Value Displays Indications of Recovery – But Can This Pattern Last? Head?
Hello there, crypto aficionados! Bitcoin (BTC), the sovereign of cryptocurrency, is nearing a pivotal moment. Crypto specialist Ali advises to intently observe the MVRV and 180-day SMA. The reason? A golden intersection arrangement could indicate the continuation of the present Bitcoin upswing.
A golden intersection occurs when a short-term moving average transcends over a long-term moving average, flagging a prospective prolonged upward trend.
Ali concisely articulates it: “Monitor the MVRV and 180-day SMA for a golden intersection to presage the continuation of the Bitcoin (BTC) upswing.”
With Bitcoin presently maintaining above this vital support threshold, a golden intersection of the previously stated MVRV and 180-day SMA could reinforce optimistic disposition.
As of news time, Bitcoin (BTC) has decreased by 1.74% in the past day to $83,359, as Thursday’s profits encountered profit-taking in early Friday commerce. Market specialists view $80,000 as a crucial support threshold for Bitcoin to uphold.
## Bitcoin Dealers Stay Wary
While technical indicators propose sanguinity, wider market circumstances and macroeconomic elements could sway Bitcoin’s price activity in the near term. However, the derivatives market portrays a dissimilar image, with dealers displaying circumspection.
As per Glassnode’s analysis, there’s a decline in speculative activities and risk management within the Bitcoin ecosystem. The quantity of Bitcoin futures agreements has decreased from \$57 billion to \$37 billion, representing a 35% reduction since Bitcoin achieved its peak value. This indicates a decrease in capital flow within the market, with individuals adopting a more conservative approach.
The Bitcoin options market additionally suggests a heightened focus on safeguarding against potential price declines. The “volatility smile” phenomenon reveals that put options, which are wagers on price decreases, command higher premiums compared to call options, which are wagers on price increases. This implies that investors harbor concerns regarding a potential downturn in Bitcoin’s price.
The 25-delta skew corroborates this observation, as short-term put options are priced higher than comparable call options. This underscores the sustained need for market hedging strategies. This collective risk-averse sentiment implies considerable ambiguity surrounding the future trajectory of Bitcoin’s price. Furthermore, the increasing cost of protecting against Bitcoin price declines reinforces the prevailing cautious atmosphere within the market.
