{"id":74707,"date":"2023-07-25T20:39:55","date_gmt":"2023-07-25T20:39:55","guid":{"rendered":"http:\/\/kryptodata.se\/bitcoin-price-declines-yet-data-suggests-30k-and-above-as-easier-route\/"},"modified":"2023-07-25T20:39:55","modified_gmt":"2023-07-25T20:39:55","slug":"bitcoin-price-declines-yet-data-suggests-30k-and-above-as-easier-route","status":"publish","type":"post","link":"http:\/\/kryptodata.se\/bitcoin-price-declines-yet-data-suggests-30k-and-above-as-easier-route\/","title":{"rendered":"Bitcoin Price Declines, Yet Data Suggests $30K and Above as Easier Route"},"content":{"rendered":"
Despite a price correction to $29,000, Bitcoin traders are betting on a quick rebound.<\/p>\n
Bitcoin’s major trading metrics continue to project a bullish outlook, indicating that professional traders have not reduced their leverage longs.<\/p>\n
Whales’ inflows to exchanges reached their highest level in over three years, causing concern among investors.<\/p>\n
Bitcoin’s crash may have been related to the U.S. dollar’s reversion and a reversal in the U.S. Dollar Index’s trend of devaluation.<\/p>\n
Margin and derivatives markets show that professional traders have remained resolute, adding leveraged long positions despite the price crash.<\/p>\n
The options market also indicates that professional traders remain unfazed by the flash crash.<\/p>\n
There are positive triggers on the horizon, such as the possible approval of a spot Bitcoin exchange-traded fund and gaining regulatory clarity.<\/p>\n
Overall, there are higher odds of a recovery above $30,000 in the short term, as Bitcoin’s fundamental strengths remain intact.<\/p>\n","protected":false},"excerpt":{"rendered":"
<\/p>\n
Even with a price correction to $29,000, several Bitcoin price metrics show traders casting bets on a quick rebound. <\/p>\n","protected":false},"author":1,"featured_media":74708,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_oct_exclude_from_cache":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","footnotes":""},"categories":[15],"tags":[47],"class_list":["post-74707","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin"],"yoast_head":"\n