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Bitcoin (BTC) Price Is Set To Rally On These Two Key Factors
Abstract：On-chain analytics platform Santiment announced in a tweet on April 8
Bitcoin (BTC) is currently moving in the $43k-$45 range after plummeting from the $48k level within a week. On-chain data indicates a bullish divergence and a rise in whale activity at current levels. Thus, the Bitcoin (BTC) price could see a strong upward movement from here. At the time of writing, the Bitcoin (BTC) price is trading at $43,615, rebounding nearly 2% in the last 24 hours.
Bitcoin (BTC) Price Builds Bullish Momentum
On-chain analytics platform Santiment announced in a tweet on April 8 about the Bitcoin (BTC) price indicating bullish divergence as the number of unique tokens on the network moves into bullish territory. The Bitcoin (BTC) NVT token circulation model data points to an upcoming rally in Bitcoin price at the current market levels.
Bitcoin dropped to below $43.1k, and has recovered mildly since. Through the first week of April, our model indicates a bullish divergence between the amount of unique $BTC moving on its network vs. current market cap levels.
Moreover, Bitcoin (BTC) Whale Transactions above $100k indicate that the largest spikes in whale transactions in the last 24 hours. Whales moved more than 1000 BTC worth more than $100,000. Moreover, amid the Bitcoin redistribution, whales have continued to move Bitcoin out of exchanges. Thus, the Bitcoin (BTC) price is moving higher since bottoming out near the $43k level. Also, the on-chain data points to strong bullish momentum in the Bitcoin price.
Bitcoin (BTC) Upcoming Price Trend
The Bitcoin price is currently trading sideways at the moment. With the mid-having event scheduled on April 11, the price should break higher above the $45,500 level to confirm a bullish rally. However, if the Bitcoin (BTC) price fails to build momentum and breaks the 43,000 level, we could see more downside in price.
As per CoinMarketCap, the Bitcoin price is down nearly 3% in the last week.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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For experienced traders, selecting a broker is a meticulous process that extends far beyond marketing claims and bonus offers. It involves a granular analysis of the core trading environment: the quality of execution, the flexibility of leverage, the integrity of the regulatory framework, and the suitability of the conditions for one's specific strategy. MH Markets, a broker with a 5-10 year operational history, presents a complex and multifaceted profile that warrants such a detailed examination. This in-depth review dissects the MH Markets trading conditions and leverage, using primary data from the global broker inquiry app, WikiFX, to provide a clear, data-driven perspective. We will analyze the broker's execution environment, account structures, and regulatory standing to determine which types of traders might find its offering compelling and what critical risks they must consider.
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For any experienced trader, the long-term viability of a brokerage partner hinges on a delicate balance of trust, execution quality, and, critically, cost. Trading fees, both direct and indirect, can significantly erode profitability over time. This makes a granular understanding of a broker's cost structure not just beneficial, but essential. This in-depth analysis focuses on MH Markets, breaking down its commission fees, spreads, and other associated costs to provide a clear, data-driven perspective for traders evaluating this broker for their long-term strategies. Drawing primarily on verified data from the global broker inquiry platform WikiFX, alongside other public information, we will dissect the MH Markets spreads commissions cost structure. We aim to move beyond marketing claims and uncover the practical, real-world costs of trading with this broker, helping you determine if its pricing model aligns with your trading style and financial goals.
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