2 hours ago
TL;DR Technical indicators like the TD Sequential suggest a potential trend reversal for Shiba Inu, fueling hopes of a renewed rally. The Shiba Inu team warned users to stay vigilant, with LUCIE alerting the community that bad actors are using the meme coin’s name to target victims. SHIB Bull Run Incoming? The second-largest meme coin in terms of market capitalization witnessed a solid resurgence in the past two weeks, with its price soaring by over 10% for that period. However, Shiba Inu (SHIB) remains far below the peak levels observed in the past years. One popular analyst who touched upon Shiba Inu’s recent performance is Ali Martinez. He estimated that the TD Sequential indicator has flashed a buy signal on the weekly chart, suggesting this might be setting the stage for “a major rebound.” The technical analysis tool, developed by Tom DeMark, is used in crypto (and other markets) to spot potential trend reversals as it shows whether the underlying asset has reached an exhaustion point in either direction. Other industry participants giving their two cents on the topic include the X users mrpartickschmitt and Crypto Guru. The former looked back on April 2021 when SHIB “started to pump and kicked it all off.” “I don’t know which one will kick it all of[f] , but I am certain that history might repeat , even with way different metrics and conditions,” he added. Crypto Guru didn’t go into much detail, simply predicting that Shiba Inu could experience a price explosion “soon.” Beware of Scammers Besides being the subject of price predictions, Shiba Inu has become a hotbed for scammers. The team behind the meme coin has recently issued multiple warnings about fraudulent attacks within the ecosystem. A few days ago, LUCIE ( the pseudonymous Marketing Strategist of Shibarium ) cautioned that wrongdoers have been using SHIB’s name to target victims. “I don’t have the power to shut bad actors using SHIB’s name – but I do want MY SHIB community to be as informed as possible and to keep spreading the good word about SHIB – the one and only Ethereum-born Shiba Inu,” they said. LUCIE assumed that scams can’t be eliminated entirely but promised “to build safe spaces where people get educated about these things.” The post Shiba Inu (SHIB) Eyes a Major Rebound – Top Predictions Revealed appeared first on CryptoPotato .
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Institutional Bitcoin ETF Inflows Surge, Indicating Potential Shift in Investor Sentiment Amid Macro Influences
Recent inflows to Bitcoin ETFs have surged to their highest level since late January, indicating a potential shift in market sentiment driven by macroeconomic factors. On Monday, Bitcoin exchange-traded funds Crypto Potato
Bitcoin long/short ratio hits 1-month high
Despite a significant move to the upside in recent days, futures traders are betting that the current Bitcoin ( BTC ) rally will continue. Namely, Bitcoin’s long/short ratio has reached a 1-month high of 1.0559, indicating that 51.36% of derivatives positions opened in the last 24 hours have been bullish, per data retrieved by Finbold from cryptocurrency futures trading and information platform CoinGlass on April 22. Bitcoin long/short ratio chart. Source: CoinGlass In the closing hours of Sunday, April 20, Bitcoin ( BTC ) shot up from $85,000 to $87,000. By press time on April 22, the leading cryptocurrency was changing hands at a price of $88,530, having marked a 3.40% gain on the weekly chart that has brought year-to-date (YTD) losses down to 5.33%. BTC price 1-week and year-to-date (YTD) charts. Source: Finbold Is the Bitcoin long/short ratio a reliable signal? The second Bitcoin long/short ratio in the past 30 days, at 1.05, which is equivalent to 51.23% of positions being long, was seen on April 12. At the time, the flagship digital asset was trading at $82,944 — so a move to the upside did indeed ensue, as BTC price is currently trading 6.73% higher. However, traders should always be wary of undue optimism. The metric is useful, as it provides clear insight into the sentiment of futures traders — but at the end of the day, this is only one piece of the puzzle. Some, like Fundstrat’s Tom Lee, are blaming Bitcoin’s troubles earlier this year on overleveraged institutional positions — and think that the cryptocurrency could even match gold’s meteoric rise going forward. On the other hand, HS Dent Investment Management founder Harry Dent believes that BTC will spearhead the crash of the ‘everything bubble’ later this year. It’s clear that market-wide dynamics and macro concerns will be the main factor impacting BTC’s price action going forward — however, the leading digital asset is beginning to show signs of resilience, at least in the near term. Featured image via Shutterstock The post Bitcoin long/short ratio hits 1-month high appeared first on Finbold . Crypto Potato
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