Tag Archives: psychological

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What Next For Bitcoin Price as Strategy Raises STRE Offering to $715M?

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Strategy has upsized its Stream Perpetual Preferred Stock (STRE) offering to €620 million ($715 million) to support future Bitcoin acquisitions. This move comes as Bitcoin recently dropped below the $100,000 mark amid worsening risk sentiment triggered by the prolonged U.S. government shutdown.

On Friday, Bitcoin’s price fell to intraday lows below $100,000, echoing steep sell-offs across U.S. equities. The decline followed warnings from White House adviser Kevin Hassett about the shutdown’s potentially worse-than-expected economic impact. Despite the market-wide corrections, Bitcoin investment firm Strategy increased its STRE offering from the initial €350 million to €620 million.

CEO Michael Saylor confirmed the upsizing, explaining that the firm raised the capital to bolster liquidity for “general corporate purposes,” which includes acquiring additional Bitcoin. The euro-denominated structure remains consistent with earlier perpetual preferred stock offerings used by the company. Strategy has historically funded its BTC accumulation through debt-backed issuances.

Following its most recent purchase of 397 BTC worth $45.6 million on Monday, Strategy now holds a total of 641,205 BTC. This amount represents approximately 3.05% of the total circulating Bitcoin supply.

**Bitcoin Price Forecast: Signs of a Relief Bounce Toward $105,700**

Bitcoin’s 12-hour chart is showing mild signs of recovery after the steep decline. At the time of writing, the price trades around $100,950, having bounced off the lower Keltner Channel support level at $100,255. The mid-channel resistance lies near $105,729.

Volume Delta readings have turned slightly positive, indicating early accumulation near the crucial $100,000 psychological level. Meanwhile, the MACD histogram suggests easing bearish momentum, with the signal line flattening near -2,004 — signaling the potential for a near-term bullish crossover.

The Bull-Bear Power (BBP) indicator remains negative but is improving, hinting that bearish influence is waning as buyers begin stepping in. A successful daily close above $101,200 could trigger a short squeeze, driving the price toward $105,700.

On the downside, failing to hold the $100,255 support level may open the door for further losses, potentially causing Bitcoin to retest lows near $98,400.

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Stay tuned for further updates as market conditions evolve.
https://bitcoinethereumnews.com/bitcoin/what-next-for-bitcoin-price-as-strategy-raises-stre-offering-to-715m/

general

100,000,000,000 Shiba Inu (SHIB) in 24 Hours Rekindles Bullish Narrative

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Following a significant change in on-chain activity, Shiba Inu (SHIB) has experienced a modest improvement in market sentiment. Data from CryptoQuant reveals that over 100 billion SHIB tokens have reportedly left exchanges in the past day. While some market observers interpret this outflow as a bullish signal, the reality is more nuanced.

### Shiba Inu’s Exchange Flows

On-chain data highlights a net outflow of approximately 27.3 billion SHIB tokens across exchanges today, suggesting that investors are withdrawing tokens rather than depositing them. Typically, this behavior indicates that participants prefer to hold their tokens instead of selling, a pattern commonly linked to phases of accumulation.

However, in the case of SHIB, these outflows have a statistically insignificant impact on the market due to the massive supply — over 589 trillion tokens in circulation. Despite this, sentiment still plays a crucial role, and SHIB appears to be benefiting from this psychological boost.

### Price Movement and Technical Indicators

Currently, SHIB is trading at around $0.0000092 on the daily chart, bouncing off its 2024 support zone near $0.0000090 and showing a slight 2% intraday gain. Yet, technical indicators present a mixed picture.

Short-term moving averages, such as the 20-day and 50-day MAs, are beginning to flatten, suggesting that selling pressure may be easing. However, the price remains below the 200-day EMA, which is typically a strong bearish signal.

The Relative Strength Index (RSI) stands at 38, indicating SHIB is still somewhat in oversold territory, which might explain the minor rebound. Nevertheless, there is little evidence of a substantial trend reversal, as the market lacks the speculative momentum fueling previous SHIB rallies, and trading volume remains low.

### Outlook

In summary, while the recent exchange outflows provide some optimism, they are unlikely to significantly influence SHIB’s price on their own. The overall market structure remains weak, and the price is expected to fluctuate between $0.000009 and $0.000010 unless there is a major shift in demand or liquidity.

The bullish narrative around SHIB may be regaining traction, but it appears to be driven more by sentiment than by fundamental changes in the market. Investors should approach with caution and monitor key indicators for any clearer signs of a trend reversal.
https://bitcoinethereumnews.com/tech/100000000000-shiba-inu-shib-in-24-hours-rekindles-bullish-narrative/