Bitcoin's Bullish Momentum and the Fear of Missing Out

Market sentiment is turning bullish on Bitcoin

Mainly based on the following 5 reasons:

1. In recent days, the inflow of spot Bitcoin ETFs has increased significantly, reaching US$232 million on Thursday;

2. Traditional financial giants such as Citadel, Goldman Sachs, UBS and Citi will serve as authorized participants of BlackRock's Bitcoin ETF, which is a good news;

3. The market continues to buy a large number of Bitcoin call options (there is a large amount of selling of Ethereum call options);

4. Bitcoin perpetual contract funding rate is flat, the forward curve is lower, and the leverage level is reduced;

5. The upcoming Bitcoin halving narrative.

Will the price of Bitcoin break through $80,000?

Analyzing Coinglass's historical data on Bitcoin monthly returns, April is traditionally a bullish month for Bitcoin. Although the current negative return rate for April 2024 is -4.21%, a closer look will show that this month often heralds a pattern of positive momentum.

Notable growth includes an extraordinary +50.01% in April 2013 and a strong +29.84% growth in April 2021. Historically, the average return for this month is +13.86%, while the median return is +5.04%, indicating that cryptocurrencies tend to produce positive results this month.

Therefore, Bitcoin price has a high potential for an upward triangle breakout, which would mark a continuation of the current trendline. According to the pennant pattern, a rebound after the breakout could push the coin's value to $87,000.

These days, many friends are asking me what stage the bull market has reached.

It feels like a lot of coins are rising every day, and I don't know what to do. If I do it, I'm afraid that Bitcoin has peaked. So scared.

Here is a unified "reply":

The bull market is only in the middle stage, qu维裙:rgbn996BTC has not reached 10w US dollars, and the halving has not yet arrived. The main uptrend of the altcoin has not yet come. Every pullback is an opportunity to buy. Don't be afraid

What are you afraid of? ? ?

Are you afraid of making money?

Bitcoin's pullback is to give you a chance to get on board, don't be shameless. The requirements are so high

During the Chinese New Year, you were asked to go all in at 40,000, and you said you would wait for the Bitcoin halving to plunge before entering the market.

Now it's good, it's pulled to 70,000 and you're anxious.

You start chasing the rise, but every time you chase it in, it falls. You chase it in and it falls. You are confused, and you doubt that this is not a bull market at all. You think the bull market has not come yet.

You are angry at first, "This idiotic market"

Then confused, "What should I do?"

Finally, you start to get anxious, because you see others making money.

You are anxious, completely anxious. You are worried about missing out on the entire bull market, and you are also afraid that the bull market is about to end.

You are stuck in a vicious circle, and even if you enter the market, you are still in a state of panic...

热点：Bitcoin FEAR OUT