Bitcoin prices rose over 6% on Tuesday and held gains early on Wednesday in hopes that there's going to be fresh demand for Bitcoin in the coming weeks. The trigger for Bitcoin’s surge was the fact that the US court overturned the US Securities & Exchange Commission's decision to block a proposal to turn the Grayscale Investment Trust into a spot Bitcoin ETF.
The hope now, on this decision, is that this decision opens the way for those who want to start the first US spot Bitcoin ETF. This will further validate the presence of Bitcoin in the financial sphere and the extra interest should also boost Bitcoin prices.
However, Bitcoin prices are still much lower than the Covid era prices above $65,000. In the near term notice, as we come into the end of the month, that Bitcoin has a bias for buying around month-end from the day before, and the day, after the turn of the month. Around this time Bitcoin has gained on average 1.17% and has seen an over 60% winning percentage. So does this make Bitcoin a suitable intraday buy opportunity on the latest news and this seasonal buy bias?
Major Trade Risks: The major trade risk will come from any other unexpected Bitcoin news or a very high US PCE print on Thursday.
Disclaimer: Past results and past seasonal patterns are no indication of future performance, in particular, future market trends. seasonax GmbH neither recommends nor approves of any particular ...
Disclaimer: Past results and past seasonal patterns are no indication of future performance, in particular, future market trends. seasonax GmbH neither recommends nor approves of any particular financial instrument, group of securities, segment of industry, analysis interval or any particular idea, approach, strategy or attitude nor provides consulting nor brokerage nor asset management services. seasonax GmbH hereby excludes any explicit or implied trading recommendation, in particular, any promise, implication or guarantee that profits are earned and losses excluded, provided, however, that in case of doubt, these terms shall be interpreted in abroad sense. Any information provided by seasonax GmbH or on this website or any other kind of data media shall not be construed as any kind of guarantee, warranty or representation, in particular as set forth in a prospectus. Any user is solely responsible for the results or the trading strategy that is created, developed or applied. Indicators, trading strategies and functions provided by seasonax GmbH or on this website or any other kind of data media may contain logical or other errors leading to unexpected results, faulty trading signals and/or substantial losses. seasonax GmbH neither warrants nor guarantees the accuracy, completeness, quality, adequacy or content of the information provided by it or on this website or any other kind of data media. Any user is obligated to comply with any applicable capital market rules of the applicable jurisdiction. All published content and images on this website or any other kind of data media are protected by copyright. Any duplication, processing, distribution or any form of utilisation beyond the scope of copyright law shall require the prior written consent of the author or authors in question. Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or lifestyle. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results. Testimonials appearing on this website may not be representative of other clients or customers and is not a guarantee of future performance or success.
