Prior to the recent Bitcoin price hike, our indicator was up.

In the stock market and cryptocurrency space, traders are always looking for clear reasons to explain the value of an asset. In other words, referring to a relationship doesn't necessarily mean having a significant impact. While it is easy in the market to engage with regulations or policies still in place with the benefits of real estate, there is no clear evidence that these drivers are real. .

There are indications that some of the actions described below may have been caused by luck or arrogance, and that such situations have always existed in history. For example, Bitcoin (BTC) gains at $ 48,200 on October 1 will be made with a statement from Federal Reserve Chairman Jerome Powell on September 30. When asked for clarification Speaking on Digital Credit Banking (CBDC), President Powell acknowledged that the Fed has no plans to ban cryptocurrencies.

Another reason for the current recovery is that the 7-day average Bitcoin hashrate has risen to 145 exaHashes per second (EH / s). This is the highest level since the immediate explosion of the continental mining industry in early June.

Finally, the US Securities and Exchange Commission (SEC) is expected to approve Bitcoin ETFs, which may have played a role in recent speculation by traders. Obviously, various factors pushed it up to $ 49,000 last week, and today the hike seems to have struggled to recover $ 50,000. So let's take a look at three indicators that indicate a “buy” ahead of the recent price.

As traders focused on DeFi, UNI received UNI, Uniswap's decentralized exchange token (DEX), which rose several hours before the market returned on October 1. Altcoins started to rise at the UTC monthly close. , starting at 5% from $ 23 to $ 24.20. Following the move, Bitcoin rose 4% to $ 25.20 three hours before surpassing $ 45,000.

Oddly enough, the volume of DEX transactions started to skyrocket after mainland regions imposed new restrictions on Bitcoin last week. A necessary explanation for this move would be for investors to begin to understand that the measures in China would not affect the packaging industry. By switching to DEX, the potential for government regulation or restrictions on cryptocurrency adoption has been significantly reduced.

The market for derivatives exchanges has grown in size, and some exchanges measure consumers or share data from derivative sites and exchanges to provide important information to their clients. For example, OKEx Bitcoin traders' short-term ratio fell 28% from 1.25 (long-term support) to 0.72 (short-term support) in 2 days.

It may seem counterintuitive at first that the whales raised their eyebrows, but when market expectations are shattered, price moves have occurred. If most investors want a good price, the result will be profitable.

Regardless of the assets, increasing the Binance Futures position always involves the long (buy) and short (sell) positions of the futures contract. This means that no one can predict what the trader will like. However, an immediate increase in open positions indicates that all contracts are still open, indicating an increase in market confidence.

The higher the strategy involved, the higher the stake. Perpetual and Tether token-based (USDT) contracts both peaked in open positions four hours ahead of the 6-hour UTC bull market. Interestingly, even with an additional $ 400 million in wagers, Bitcoin prices aren't significantly affected until after interest rates open.

In fact, the trader may not see the cause of the competition, but by looking at similar trends in the future, one can predict the increase in prices. Of course, there is no guarantee that the three measurements will be repeated, but the cost of maintaining the data is minimal. for