Record Bitcoin Streak: 13 Hours of Green Candles

user avatar

by Giorgi Kostiuk

2 years ago

Bitcoin recently achieved a significant milestone of 13 consecutive green hourly candles, marking the longest such period since early 2017.

Record Streak of Green Candles

Bitcoin, the largest cryptocurrency by market capitalization, recently recorded a streak of thirteen successive green hourly candles. This achievement signals renewed interest in the digital asset.

Experts' Opinions

Blockstream CEO Adam Back suggested that such an unusual trading pattern may indicate time-weighted average price (TWAP) buying. A large institutional investor or a major market maker might be accumulating bitcoin at the current price. Adam Back also noted that short-sellers closing their positions could have contributed to the rally. Some significant investors may have used the latest price fluctuations to increase their Bitcoin positions.

Maybe @saylor or someone institutional using the dip to build a position ahead of inauguration 10 days, tick tock.Adam Back

Reasons for Bitcoin's Decline

After the streak, Bitcoin followed a downward trend, losing almost 3% in the next three hours. This was influenced by favorable conditions in the US labor and services markets, reducing the likelihood of aggressive Fed rate cuts in 2025. This led to higher treasury yields and a stronger US Dollar, negatively impacting Bitcoin and other cryptocurrencies.

Market sentiment remains bearish due to a combination of macroeconomic factors. High levels of liquidations and US government plans to sell seized Bitcoins exert additional pressure on the market.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

ShredPay Partners with Jack Henry to Enhance Digital Asset Integration

ShredPay partners with Jack Henry to enable banks and credit unions to access stablecoin and digital asset services.

user avatarLi Weicheng

Strive Increases Bitcoin Holdings to 26,355 BTC

Strive has disclosed a purchase of 1,355 BTC, raising its total Bitcoin holdings to 26,355 BTC.

user avatarAisha Farooq

Broadcom Set to Gain from Alphabet's Custom TPU Sales

Broadcom is set to benefit from Alphabet's decision to sell custom TPUs to external data centers, enhancing its AI semiconductor revenue through a long-term agreement until 2031.

user avatarBayarjavkhlan Ganbaatar

Alphabet Enters Hardware Market with Custom TPUs for Data Centers

Alphabet announces the sale of its custom-made Tensor Processing Units (TPUs) to external data centers, marking a significant move into hardware sales.

user avatarTenzin Dorje

CoinsBee and TRON DAO Launch Discount Campaign for USDT Payments

CoinsBee, in collaboration with TRON DAO, is launching a campaign that offers eligible users a 2% discount on purchases made with USDT on TRON.

user avatarMohamed Farouk

USDT on TRON Surpasses Bitcoin as Most Used Payment Method on CoinsBee

USDT TRC20 on the TRON network has become the most used on-chain token and payment option on CoinsBee, surpassing Bitcoin and Ethereum in payment activity.

user avatarElias Mukuru

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.