Bitcoin (BTC) increased to $ 90,000 for the first time from March 7, adding more than 5% in the last five days as the roads of the largest cryptocurrency and traditional actions diverge.
In comparison, the S&P 500 was quoted above 5,700 points on March 7 and since then has passed below 5,200.
Despite the recent rebound, Bitcoin continues to fall more than 5% to date. However, it has been significantly recovered from its minimum of April 8, when it fell almost 20% in the year and more than 30% below its record of around $ 109,000 in January. That marked the most pronounced correction of this cycle and eclipsed the dismissal of August 2024, when it slid to $ 49,000.
From the perspective of the market structure, the average perpetual financing rate in exchanges is currently negative.
Perpetual financing rates reflect the cost of maintaining long or short positions in futures markets. When the rate is negative, it means that short vendors are paying long holders to maintain their positions, a configuration that can accelerate the price moves higher because the shorts are forced to cover their positions in what is known as a short budget.
In addition to the bullish impulse, on Monday it marked the entry of a single larger day in the ETC of the US Bitcoin Spot. UU. Since January 30, totaling more than $ 380 million. With the Nasdaq more than 1% in what some observers call “Tornaround Tuesday”, Bitcoin can earn more upwards, although the key levels of technical resistance are still ahead.
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Update (April 22, 13:55 UTC): Add the history movements history in the third paragraph, market structure from the room.
