Bitcoin price increases due to the negative correlation with the dollar and the lower range of stock exchanges

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Der Bitcoin-Preis ist in den letzten Tagen gestiegen und hat wahrscheinlich von seiner anhaltend negativen Korrelation mit dem Dollar profitiert. Ein möglicher Grund für diesen Anstieg sind die geringen BTC-Angebote an den Börsen, die auf den niedrigsten Stand seit fünf Jahren gesunken sind. Traditionell betrachten Marktteilnehmer den Abfluss von Münzen von den Krypto-Börsen als ein bullisches Signal. Dies deutet darauf hin, dass Händler ihre Bitcoins abheben, um sie langfristig zu halten. Interessanterweise zeigen On-Chain-Daten, dass Bitcoin-Investoren im Jahr 2023 monatlich etwa 27.000 BTC angesammelt haben. Dies lässt darauf schließen, dass die meisten Investoren eine Preiserhöhung in den kommenden Monaten erwarten. …
The Bitcoin Prize has increased in the past few days and has probably benefited from its ongoing negative correlation with the dollar. A possible reason for this increase are the low BTC offers on the stock exchanges that have dropped to the lowest level in five years. Traditionally, market participants consider the drainage of coins from the crypto exchanges as a bullish signal. This indicates that retailers withdraw their bitcoins to keep them in the long term. Interestingly, on-chain data show that Bitcoin investors collected around 27,000 BTC per month in 2023. This suggests that most investors expect a price increase in the coming months. ... (Symbolbild/KNAT)

The Bitcoin Prize has increased in the past few days and has probably benefited from its persistently negative correlation with the dollar. A possible reason for this increase are the low BTC offers on the stock exchanges that have fallen to the lowest level in five years.

Traditionally, market participants consider the drainage of coins from the crypto exchanges as a bullish signal. This indicates that retailers withdraw their bitcoins to keep them in the long term. Interestingly, on-chain data show that Bitcoin investors collected around 27,000 BTC per month in 2023. This suggests that most investors expect a price increase in the coming months.

With a view to July, the BTC/USD price is technically aiming for a range of $ 31,000 to $ 31,500. This area corresponds to the main resistance level of Bitcoin, which is part of a sideways -made consolidation channel. If the price of this level reaches and reversed, it would be possible that the BTC price will test the lower trend line of the channel near $ 29,900. Traders should keep an eye on the next interest rate decision of the Fed on July 25th and 26th as a possible catalyst.

It is important to note that this article does not contain investment advice or recommendations. Attachment and trade measures are always risks and readers should carry out their own research before making decisions.

sources:
-https://digideutsche.com/wp-content/uploads/2023/168916288_468_Warum-ist-iste-preis-heute-getge.png
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- https://cnews24.ru/uploads/52fa7ab021360027767FCDE7DC62FBA7DCB0C78B.PNG
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