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

Greece Enhances Crypto Tax Transparency Measures

Greece will implement new reporting and documentation requirements for cryptocurrency purchases starting in 2027 to ensure funds come from declared income or lawful sources.

user avatarTomas Novak

Greece Introduces 10% Tax on Crypto Investment Profits

Greece introduces a 10% tax on individual crypto investment gains starting January 1, 2027.

user avatarEmily Carter

Gnosis Pay Implements Enhanced Security Measures Following Breach

Gnosis Pay has implemented enhanced security measures, including 3D Secure for online payments and increased fraud monitoring, following a data breach.

user avatarMaya Lundqvist

Gnosis Pay Reports Data Breach Affecting Customer Information

Gnosis Pay reported a data breach where hackers accessed customer information through its card system, prompting immediate containment measures.

user avatarKaterina Papadopoulou

Ueno Digital Bank Collapse Revives Bitcoin Self-Custody Debate

The collapse of Ueno Digital Bank in Paraguay has sparked renewed discussions about financial independence and self-custody of Bitcoin, highlighting both the benefits and risks associated with managing one's own assets.

user avatarLeo van der Veen

Upcoming Upgrades Could Transform Ethereum Network

Ethereum developers are preparing significant upgrades that could enhance the network's capabilities and security.

user avatarLi Weicheng

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.