Narrowing Bitcoin perpetual-spot gap signals potential BTC price rally
The data on the cryptocurrency chain suggest that bitcoin could be about a bullish trend reversal, as a key market signal begins to change.
In an April 13 jobCryptoque contributor Joao Wedson noted that the gap between Bitcoin (BTC)) The long -term price and its cash price on the binance begin to shrink. This gap, known as the perpetual difference, shows the difference between what traders pay in term contracts compared to the real price of bitcoin.
Since the gap is currently negative, the actors of the long -term market can exercise caution or taking advantage after the previous overlapping of Bitcoin at almost $ 90,000. However, the narrowing deviation may indicate that the sales pressure is busy. In the past, the price of Bitcoin has often experienced a significant increase when this gap has become positive. This occurred in 2020 and early 2024.
Although Bitcoin fell by more than 22% of its $ 108,786 summit in January, chain accumulation signals remain strong. According to a position on April 11 on X per Glassnod, around 40,000 BTCs were bought near the level of $ 79,000, while about 51,000 BTCs were accumulated at around $ 82,080. If prices decrease once again, these levels could serve as support.
Bitcoin is negotiated at around $ 84,746 from press time, having recovered from a weekly hollow of $ 74,773. Cryptocurrency increased 7% last week. Recently, Bitcoin ended a daily candle above a long-term trend line, leading a well-known analyst Rekt Capital to speculate burst could be imminent. However, they warned that a successful retest is necessary to confirm the change of trend.
Meanwhile, the domination of Bitcoin, which measures its share of the entire cryptocurrency market, is 63%, according to TradingView data. This indicates that a significant quantity of stock market capital is always allocated to Bitcoin, which suggests that investors rely on its relative stability volatile markets. If buyers continue to intervene and the long -term difference becomes positive, analysts think that Bitcoin could be ready for another rally.
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