Bitcoin price bounces 4% as data gives '89% chance' stocks bottom is in
11 Março 2025 - 7:26AM
Cointelegraph
Bitcoin (BTC) rebounded above $81,000 on March
11 as US stocks’ futures sought relief from a brutal
sell-off.
BTC/USD 1-hour chart. Source:
Cointelegraph/TradingView
BTC price bounces back amid calls for short squeeze
Data from Cointelegraph
Markets Pro and TradingView
showed daily BTC price gains approaching 4%.
New four-month
lows had accompanied the previous day’s Wall Street trading
session as recession fears sent risk-asset investors fleeing.
The S&P 500 and Nasdaq Composite Index finished the day down
2.7% and 4%, respectively. At the time of writing, Nasdaq 100
futures had recovered around 0.4% from a trip to their lowest
levels since September 2024.
Commenting, trading resource The Kobeissi Letter suggested that
markets had entered an unsustainable downtrend.
“Are we overdue for a massive short squeeze?” it queried in a
thread on X,
noting risk-asset sentiment in “extreme fear” territory.
“Even bears who are calling for a prolonged bear market
would need to see some relief rallies. Markets do not move in a
straight-line long-term. Eventually, a (tradable) short squeeze is
inevitable.”
Nasdaq 100 futures 1-day chart. Source:
Cointelegraph/TradingView
Kobeissi and others referenced unusually high readings from the
VIX volatility index while making the case for a sustained
recovery.
“$VIX has only been higher 11% of the time, going back to 1990,”
network economist Timothy Peterson, creator of
several Bitcoin price forecasting tools,
continued.
“Put another way, there is an 89% chance that today was
the bottom.”
VIX volatility index. Source: Timothy Peterson/X
Bitcoin analysis sees “very rough time” ahead
Bitcoin thus saw some much-needed upside on short timeframes
after reaching $76,600 on Bitstamp.
Related: Biggest red weekly candle ever: 5 things to know
in Bitcoin this week
“$BTC just had a bullish divergence on the 4H timeframe,”
popular trader Cas abbe reacted while analyzing
relative strength index (RSI) signals.
“I'm not saying this is the reversal but a short-term
pump looks imminent now.”
BTC/USD 4-hour chart with RSI data. Source: Case
Abbe/X
Previously, trader and analyst Rekt Capital told X followers to
watch for similar
RSI cues from the daily chart to confirm a more sustainable BTC
price comeback.
Zooming out, other popular crypto market participants remained
gloomy. Among them was the pseudonymous X trader HTL-NL, who
concluded that BTC/USD
was unlikely to match all-time highs.
BTC/USDT 1-day chart. Source: HTL-NL/X
“Before anyone of you think this is specifically happening in
crypto: it’s not,” another of his latest posts
stated alongside a chart
of S&P 500 futures.
“It happens to all risk off assets. It’s called a
recession probably. US is in for a very tough time.”
S&P 500 futures 1-day chart. Source: HTL-NL/X
This article does not
contain investment advice or recommendations. Every investment and
trading move involves risk, and readers should conduct their own
research when making a decision.
...
Continue reading Bitcoin price bounces 4% as data
gives '89% chance' stocks bottom is in
The post
Bitcoin price bounces 4% as data gives '89% chance'
stocks bottom is in appeared first on
CoinTelegraph.
TRON (COIN:TRXUSD)
Gráfico Histórico do Ativo
De Fev 2025 até Mar 2025
TRON (COIN:TRXUSD)
Gráfico Histórico do Ativo
De Mar 2024 até Mar 2025
