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#Bitcoin has seen a good start of the week, however, it’s still stuck in a very tiny range for over a month. A breakout above $61K is going to trigger a big upward run towards ATH, we’ll need to wait for that.

The monthly chart for #Bitcoin looks excellent. The selling pressure is, every month, quickly getting absorbed through which the markets are running back upwards. I'm expecting September to be green and an excellent Q4 of 2024.

The monthly chart for #Bitcoin looks excellent. The selling pressure is, every month, quickly getting absorbed through which the markets are running back upwards. I'm expecting September to be green and an excellent Q4 of 2024.

Everything is a matter of reference. If you value something against the U.S. Dollar, then I don't think that's very relevant. If you do that, then you'll be questioning whether something is under/overvalued against a Dollar, without benchmarking anything. The value of the Dollar has been decreasing substantially over time, through which you'd rather want to value against the S&P. #Bitcoin is still following the path of every other cycle and hasn't made any new all-time high against the S&P, through which you could say that we're still at the start of the actual bull cycle.

#Bitcoin is still acting in between crucial levels. However, I suspect we will be grinding upward after today's PCE data. The crucial level to break upwards is $61K.

Chop, chop, chop. #Bitcoin is still acting within the range. A breakout above that resistance zone at $61K is crucial for upward momentum. If that happens --> party time and a new ATH test.

#Bitcoin lost the crucial support level at $61K. Either through the Telegram / $TON news or through the Binance rumor. At least, it's lost the crucial level. What's next? Likely a test at $56K before reversal, if the markets want to rally, $62K is your crucial resistance.

The #Bitcoin OG (10/11) has further increased the $ETH (5x) long position. Currently, all positions are valued at $696M: - 203,341 $ETH valued at $578M - 1,000 $BTC valued at $87M - 250,000 $SOL valued at $30.7M Currently having a floating profit of $70M. https://hyperbot.network/trader/0xb317d2bc2d3d2df5fa441b5bae0ab9d8b07283ae https://x.com/OnchainLens/status/2001576820509127119 Follow @onchainlens for more onchain updates

As the market takes a downturn, the #Bitcoin OG (10/11) is currently facing a floating loss of over $73.5M, with profits dropping from $119M to $27M. Do you think this time the OG NGMI? https://app.coinmarketman.com/hypertracker/wallet/0xb317d2bc2d3d2df5fa441b5bae0ab9d8b07283ae https://x.com/OnchainLens/status/2001467243989983269 Follow @onchainlens for more onchain updates

#Bitcoin is still acting above a crucial level. I'd like to see $61K held as support. From there, we're likely to continue towards a new all-time high, especially with this current momentum in the ETF.

Another massive day of inflow for the #Bitcoin ETF! Last week, the ETF has seen an inflow of $500 million. Yesterday, the inflow was net positive for $200 million. If the inflow stays like this, that's a vital sign of strength.

#Bitcoin broke through $61.5-62K as the crucial resistance zone. I’d prefer to see that level as a retest hold as support, then we’re going to be seeing a new run towards the all-time high next.