SUI, not to be mistaken for a shy wallflower, staged a scene-stealing bullish breakout in the last 24 hours (applause, please!). According to CoinDesk Research’s little black book of technical analysis, support materialised at $2.87—no doubt thanks to devoted fans—and the price leapt with the élan of a matinée idol chased by creditors.
Bluntz believes that the Bitcoin dominance (BTC.D) metric is flashing a bearish divergence, which means it’s time for alts to shine! 🌟
One significant factor fueling the rise in Bitcoin’s price is the ongoing investment into Bitcoin Exchange-Traded Funds (ETFs), particularly BlackRock’s iShares Bitcoin Trust (IBIT). This fund continues to draw substantial investments from large institutions, suggesting that it remains a popular choice. The consistent influx of funds implies growing trust from traditional financial sectors, which in turn strengthens Bitcoin’s standing as a store of value and investment tool.
His statement suggesting that economic growth will multiply the budget deficit by ten has once again sparked worries regarding potential increases in prices or inflation.
CryptoQuant—a name that rings with the gravity of philosophers and yet invokes the surreptitious schemes of Scapin—brings forth on-chain data festooned with metrics. Revenues have sunk with all the enthusiasm of a stone thrown into a duck pond. And yet! Do our miner friends clutch their pearls and run for the exits? Non, non! Their composure would put even the grandest actors of the Comédie-Française to shame.