The post Crowded trade? Retail hasn’t been this long on BTC, ETH, SOL, XRP in over a year appeared on BitcoinEthereumNews.com.

Retail crypto traders are trying to capitalize on the potential spot Bitcoin ETF approval, but pro traders have been more cautious. The cryptocurrency market’s capitalization metric has been trading within a relatively narrow upward channel for the past 10 weeks. This indicates that bullish momentum has remained intact despite recently failing to break above the $1.7-trillion market cap resistance. In December, Bitcoin’s (BTC) price made 20-month highs above $44,000, and Ether’s (ETH) upswing was stropped at $2,400. Some analysts argue that the excessive demand for leveraged longs (buying) will trigger a correction, but is that really the case? Regardless of whether the ongoing bullishness has been driven by the expectation of a spot Bitcoin exchange-traded fund (ETF) approval by March, the odds of cascading liquidations exist when traders heavily rely on futures markets. Read more Source: https://cointelegraph.com/news/crowded-retail-funding-rate-long-btc-eth-sol-xrp-year

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Filed under: News - @ December 30, 2023 1:38 pm