So, Arthur Hayes, the co-founder of BitMEX (you know, the guy who probably has more Bitcoin than friends), has made a bold prediction: Bitcoin’s dominance is set to soar to a staggering 70%! 🚀
In a tweet that sounds suspiciously like a late-night snack confession, Hayes admitted, “Been nibbling on $BTC all day, and shall continue. Shitcoins are getting in our strike zone but I think #bitcoin dominance keeps zooming towards 70%.” 🍕💰
Translation: While altcoins are floundering like a fish out of water, Bitcoin is strutting around like it owns the place. 🐟💃
Hayes links this Bitcoin bonanza to U.S. monetary policies. Apparently, if the Federal Reserve decides to cut interest rates, we might see a money-printing party that would make even the most extravagant birthday bash look tame. 🎉💵
When more money is printed, Bitcoin becomes the go-to for investors looking for a safe haven. It’s like the cozy blanket of the investment world—perfect for those chilly inflation nights. 🥶🛌
And guess what? Glassnode, the analytics wizards, have noticed that Bitcoin whales (not the ones in the ocean, but the ones with wallets so fat they need their own zip code) are buying up Bitcoin like it’s going out of style. 🐋💳
At the start of the month, these whales were accumulating Bitcoin like it was the last slice of pizza at a party, with an “accumulation score” nearing 1.0. Talk about a feeding frenzy! 🍕🐋
Now, Bitcoin’s price is flirting with a support level around $74,000. Glassnode suggests this price point is like a cozy corner where over 50,000 Bitcoin are hanging out. If the market gets its act together, we might just see a recovery! 📈✨
However, our friend Ted from OKX warns that Bitcoin needs to reclaim the 50-EMA level to avoid a nosedive to around $67,000 or $70,000. No pressure, right? 😬📉
“BTC is trying to reclaim the weekly 50-EMA level. This has acted as a bull/bear line for BTC,” Ted said on X. Because who doesn’t love a good bull/bear showdown? 🐂🐻
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2025-04-07 22:49