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The situation in Bitcoin is currently showing a positive picture to investors and analysts. There has been a small correction in the chart since yesterday, but with a sell-off of less than 4 percent from the last high, it is not only healthy, but even necessary for new increases. But the overarching picture is extremely bullish.
The price has now established a strong upward trend, leaving the EMA 200 far behind, and the MACD is still showing a buy signal. Now all Bitcoin has to do is break out past $69,487, then the path to a fabulous bull run would be clear…
(The technical chart situation in Bitcoin currently looks excellent! – Source: Tradingview.com)
The increase is driven by fundamentals!
The technical chart situation is a good indicator, but it is even better if there is a reason for the movements in the chart. And that is exactly what seems to be the case with Bitcoin at the moment. Because the strong increases become decisive from the funds of institutional investors supported. This is shown by the gigantic inflows of Bitcoin spot ETFs.
Because they have earned over $2.67 billion in the last 7 trading days. This means they are in one of the best phases since March. BlackRock’s iShares Bitcoin Trust ($IBIT) accounts for over $1.47 billion, or more than half of that. It is therefore no wonder that the world’s largest asset manager is currently buying heavily in Bitcoins.
Of course, to cover its physically deposited Bitcoin spot ETF, BlackRock keeps buying Bitcoins. Just yesterday, the financial giant purchased 4,869 $BTC worth $328 million. In total, the group now owns 391,484 $BTC (26.45 billion US dollars). From a fundamental point of view, Bitcoin has good tailwind for an almost legendary bull run.
The sentiment in Bitcoin is excellent
In addition to the positive sentiment among institutional investors, which is evident from the inflows into the Bitcoin spot ETFs, the sentiment among private investors is also currently excellent. The Bitcoin Fear & Greed Index is currently at 70 points. This is exactly in the perfect zone between 40 and 80 points and also suggests that Bitcoin is currently receiving broad support from many investors on its path to success.
Overall, the mood in Bitcoin is so good that it couldn’t be better. Together with the technical chart situation and the fundamental data obtained from the Bitcoin spot ETFs, there is practically nothing standing in the way of a dizzying new all-time high for Bitcoin. The analyst Crypto Rover also sees it that way.
Bitcoin should therefore again act as an icebreaker in the next few weeks, helping a lot of coins reach new highs in its powerful wake. Meme coins in particular have produced huge gains in recent bull markets when Bitcoin has targeted new highs. One of the hottest candidates for near-fantastic returns right now could be Crypto All-Stars ($STARS).
You can find the Crypto All-Stars website here.
That’s why $STARS could explode if Bitcoin rises
Bitcoin serves as a guide for many investors. Especially the big whales. When it rises, they are often willing to invest in new coins with great potential. And this is exactly what Crypto All-Stars could benefit from now. The coin could be particularly interesting for whales with large portfolios consisting of different coins.
The coin is the official token for MemeVault, a staking protocol that allows investors for the first time to stake various large meme coins in a pool. Provided you own enough $STARS tokens, which makes the coin particularly interesting for crypto whales with huge capital.
(Crypto All-Stars could be particularly interesting for the big crypto whales because of the MemeVault – source: cryptoallstars.io)
For crypto whales, the MemeVault means that they will be able to stake their masses of coins more easily and profitably in the future. Since they need the $STARS token to do this, they are likely to buy it in large quantities and then even hold it for a long time, which tightens the supply. This means that Crypto All-Stars could achieve a huge price increase. But what makes the coin a unique opportunity for investors is the following.
Currently, $STARS is flying completely under the radar of major crypto whales as the coin is still in its ICO. Investors can still buy it extremely cheaply, even before the big investors get in, who then drive the price up. However, it shouldn’t be long before the first whales get wind of the opportunity. Investors should therefore hurry up with their decision.
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