A closely-followed crypto strategist whose credibility in the crypto space rose after nailing Bitcoin’s collapse in March 2020 says he expects BTC to bottom out and print a new all-time high in the coming weeks.

In a new tweetstorm, the analyst known in the industry as Capo looks at a number of technical indicators to show why he believes Bitcoin has carved a bottom.

The trader explains that the steep decline in Bitcoin’s open interest, which refers to the number of contracts held by market participants, is bullish for the leading cryptocurrency,
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 price is back over $50,000 after bullish news broke this morning regarding Coinbase officially filing to go public. However, according to a fractal from the last bull market cycle kicking off in early 2017, that number could be merely the halfway point to where the cryptocurrency will trade in just two months from now.
Here’s a look at the similarities between the two cycles, and the roadmap that takes the price per BTC to $100,000 and higher within the next couple of month. more information

The total daily trading volume on various Bitcoin (BTC) futures markets has reached a new all-time high of $180 billion, crypto analytics platform Glassnode pointed out today. This comes as the price of Bitcoin has dropped below the $50,000 mark in the last few days, currently at $49,840.

Futures are a type of financial derivatives where parties agree to sell/buy an asset at a specific price on a set date. Unlike options contracts, where buyers might choose to not purchase the asset, futures are contractually binding and must be settled on the expiration date. More info

The Bitcoin Dominance Rate (BTCD) rate is currently increasing. It’s could potentially soon break out above the 65% resistance area.

While the possibility of a continued escalation remains, the BTCD is expected to resume its downward movement after and decrease toward the 51%-56% range. more info

On February 21, bitcoin touched a lifetime price high at $57,844 per unit after the crypto asset’s market valuation crossed the $1 trillion zone for the first time in history the day prior. Meanwhile, a number of digital assets have seen fiat values increase as coins like litecoin, ethereum, and others gather gains against the U.S. dollar. However, when bitcoin is the base denominator in terms of value, a lot of coins have a long way to go to catch up. more information

 price has made history with its recent movements, especially since it is on its way to price discovery beyond the $51,000-mark. In fact, in purely historical terms, the world’s largest cryptocurrency has transitioned from trading rangebound to one where Bitcoin is venturing into previously unchartered territory.

With over 100 percent HODLer wallets in profit, many profits were booked, though the emphasis still remains on increased demand. While on-chain analysts have signaled a correction since the price crossed $45,000, BTC has hit several new ATHs after. Bitcoin’s narratives have changed with factors like the inflows of investment in altcoins and DeFi redirecting to Bitcoin and institutional investors buying GBTC with premiums back above 8% coming into play now.
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Bitcoin's rally to $54,850 boosted its market capitalization above $1 trillion, a feat which took Amazon and Google decades to achieve. Within the last hour, Bitcoin's market capitalization pushed above the $1 trillion level. This milestone occurred less than a year after its market cap dipped below $100 billion on Black Thursday and the move to a new all-time high took place right as BTC price is on the verge of overtaking $55,000. more information