​​Analysts see encouraging Bitcoin market strength. With that | Global CRYPTO News

​​Analysts see encouraging Bitcoin market strength.

With that, traders were biding their time to gauge the impact of macroeconomic shifts, with BTC/USD still in a narrower trading range.

“Same update as I was looking at yesterday guys,” popular trader Crypto Tony wrote in his latest update on the day.

“$23,400 stop loss on my existing long position, and looking for shorts if we begin to lose the $22,600 support zone Until the sort of stuck in a sideways motion.“

“BTC Grinding up while spot premium is increasing,” a cautiously optimistic Daan Crypto Trades noted while eyeing derivatives data.

“Funding rates already flipping below baseline or into the negative across the board. Looks healthy.“

Popular commentator Byzantine General meanwhile entertained the prospect of future BTC price dips being “very shallow.“

“Price keeps hugging upper range, perps basis already completely reset, futs basis still hovering around zero and there are lots of spot bids that don’t seem to be going anywhere,” he agreed.