Bitcoin stalls below $38K as analysis hints 'Notorious B.I.D.' is back


21 Nov 2023 11:24 AM

Bitcoin may be seeing the return of classic liquidity games from Q1 as BTC price action fights for a chance at $40,000....

  • Bitcoin (BTC) is approaching 18-month highs, with price momentum building up to $37,770.
  • The market resembles the first quarter of this year, indicating a potential recovery from previous lows.
  • Order book data suggests a major liquidity provider, referred to as the "Notorious B.I.D.," may be shaping bid support.
  • Whales in the market are decreasing their exposure, except for the largest order class between $1 million and $10 million.
  • Analysts have mixed opinions on the future price movement, with some predicting a push towards $40,000 and others cautioning about a potential bearish divergence.

The sentiment in the article is mixed, with some indicators pointing towards a potential bullish trend while others raise caution about a bearish divergence.

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You May Ask

What is the current price of Bitcoin?How does the market activity compare to the first quarter of this year?Who is the major liquidity provider mentioned in the article?What are the opinions of analysts regarding the future price movement of Bitcoin?How are whales in the market adjusting their exposure?Please note that the analysis provided is based on the given input article and may not reflect the complete picture of the market or the accuracy of the information provided.

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