Bitcoin Rally 'Is Over': Crypto Trader Points To These 'Sufficient Reasons' Why Top Is In
Portfolio Pulse from Khyathi Dalal
Pseudonymous BitMEX crypto trader ChimpZoo predicts Bitcoin's rally is over, citing bearish indicators such as the Dogwifhat marketing campaign, significant rallies of Solana-based memecoins, Bitcoin's 90% rally with maximum pullbacks of 15%, meme coins surging 1000%, high annualized funding rates, and Michael Saylor's debt issuance for Bitcoin purchases. Bitcoin has fallen 6.5% in the past 24 hours, dropping below $70,000.
March 15, 2024 | 3:35 pm
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ChimpZoo predicts Bitcoin's rally is over due to various bearish indicators, including significant meme coin rallies and high funding rates. Bitcoin has recently fallen 6.5%, dropping below $70,000.
The prediction of Bitcoin's rally ending is based on several bearish indicators highlighted by ChimpZoo, including the performance of meme coins and Bitcoin's recent price drop. These factors suggest a negative short-term impact on Bitcoin's price.
CONFIDENCE 75
IMPORTANCE 90
RELEVANCE 100