Bitcoin Cools on 3-Month High as Long-Term Moving Average Looms Large – CoinDesk
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Bitcoin Cools on 3-Month High as Long-Term Moving Average Looms Large – CoinDesk
Bitcoin, the world’s oldest crypto, reached its highest point in almost three months on Saturday before paring back some of the weekend’s gains. Prices have since cooled and are down around 1.5% on a 24-hour basis after reaching a top of $45,300 – their highest point since May 18. As of press time, bitcoin (BTC, +1.39%) is changing hands for around $43,430. Datamish data show bitcoin’s push to higher price highs (HH) and higher price lows (HL) was precipitated by a short squeeze which saw 126 BTC short positions liquidated on Friday. Subscribe to Valid Points, our weekly newsletter about Ethereum 2.0. Your email address SUBSCRIBE By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy. “Perpetual funding rates have turned positive, meaning that the derivatives market is clearly positioned to the long side,” Toby Chapple, head of trading at digital asset firm Zerocap told CoinDesk via Telegram. “This positioning is also supported by an expanding futures basis curve, showing that market sentiment is gradually building.” Significant outflows from exchanges have also been accelerating, indicating a lack of short-term selling intent, according to the digital asset firm. Despite market concerns around the proposed crypto tax reporting provision in the U.S. infrastructure bill, institutional activity is once again on the rise. “This is reflected in the Grayscale premium reaching toward positive territory, albeit slowly,” said Chapple. CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE CLICK HERE

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