$BITCOIN's Surge and Divergence from $BTC Price Trends

Oct 17, 2023

$BITCOIN's Surge and Divergence from $BTC Price Trends

Oct 17, 2023

$BITCOIN's Surge and Divergence from $BTC Price Trends


The recent 12% surge in $BITCOIN (hpos10i) within the last 24 hours has caught the attention of many. This shift is believed to be a result of misinformation regarding the approval of a spot $BTC ETF.



While $BTC experienced its own flux, jumping from $27.5k to $29.5k before settling around $28.5k, $BITCOIN had a different trajectory. Initially rising from $0.06 to $0.07, it fell back to $0.06 soon after the news was debunked. Impressively, it managed to climb back, now trading at $0.076.



Several insights can be drawn from this disparity. $BITCOIN enjoys strong community backing, exhibits a high correlation with $BTC price shifts, and, as of now, cannot be shorted.



The investment patterns of the "smart money" are also noteworthy. For instance, the wallet associated with fembro.eth sold $10k of their $BITCOIN during the peak. Despite this sale, they still hold a sizable $525k in $BITCOIN, having already cashed in on an approximate $120k through trading this token.



For those interested in a deeper dive into their portfolio, the details can be found on @loch_chain.



$BITCOIN's Surge and Divergence from $BTC Price Trends


The recent 12% surge in $BITCOIN (hpos10i) within the last 24 hours has caught the attention of many. This shift is believed to be a result of misinformation regarding the approval of a spot $BTC ETF.



While $BTC experienced its own flux, jumping from $27.5k to $29.5k before settling around $28.5k, $BITCOIN had a different trajectory. Initially rising from $0.06 to $0.07, it fell back to $0.06 soon after the news was debunked. Impressively, it managed to climb back, now trading at $0.076.



Several insights can be drawn from this disparity. $BITCOIN enjoys strong community backing, exhibits a high correlation with $BTC price shifts, and, as of now, cannot be shorted.



The investment patterns of the "smart money" are also noteworthy. For instance, the wallet associated with fembro.eth sold $10k of their $BITCOIN during the peak. Despite this sale, they still hold a sizable $525k in $BITCOIN, having already cashed in on an approximate $120k through trading this token.



For those interested in a deeper dive into their portfolio, the details can be found on @loch_chain.



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San Francisco, CA 94114

Loch, Inc. © 2024

The content made available on this web page and our mobile applications ("Platform") is for informational purposes only. You should not construe any such information or other material as financial advice in any way. All information provided on the Platform is provided on an as is and available basis, based on the data provided by the end user on the Platform. Nothing contained on our Platform constitutes a solicitation, recommendation, endorsement, or offer by us or any third-party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction. All content on this Platform is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing in the Platform constitutes financial advice, nor does any information on the Platform constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content on the platform before making any decisions based on such information. In exchange for using the Platform, you agree not to hold us, our affiliates, or any third-party service provider liable for any possible claim for damages arising from any decision you make based on information or other content made available to you through the Platform.

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