{"id":353258,"date":"2021-10-15T16:25:00","date_gmt":"2021-10-15T13:25:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-gets-green-light-for-price-discovery-with-almost-no-supply-on-exchanges-above-59k\/"},"modified":"2021-10-15T16:25:00","modified_gmt":"2021-10-15T13:25:00","slug":"bitcoin-gets-green-light-for-price-discovery-with-almost-no-supply-on-exchanges-above-59k","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-gets-green-light-for-price-discovery-with-almost-no-supply-on-exchanges-above-59k\/","title":{"rendered":"# Bitcoin gets green light for price discovery with &#8216;almost no supply&#8217; on exchanges above $59K"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a40c4882a0a5\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a40c4882a0a5\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-gets-green-light-for-price-discovery-with-almost-no-supply-on-exchanges-above-59k\/#Bitcoin_is_already_moving_in_thin_air\" >Bitcoin is already moving in thin air\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-gets-green-light-for-price-discovery-with-almost-no-supply-on-exchanges-above-59k\/#Short_squeeze_or_resistance_slap_at_64000\" >Short squeeze or resistance slap at $64,000?<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin gets green light for price discovery with &#8216;almost no supply&#8217; on exchanges above $59K <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) is now free to surge not only to existing all-time highs but beyond, analysts have said.<\/p>\n<p>Analyzing <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/whale_map\/status\/1448981096654323716\">orderbook data<\/a> on Oct. 15, monitoring resource Whalemap revealed that Bitcoin had already beaten all major resistance levels.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_is_already_moving_in_thin_air\"><\/span>Bitcoin is already moving in thin air\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>With $60,000 hitting for the first time since April, the odds are on for new all-time highs \u2014 and the timeframe for these keeps getting smaller.<\/p>\n<p>Now, a look at exchange conditions shows just how easily BTC\/USD should jump into uncharted territory beyond $64,500.<\/p>\n<p>&#8220;Price discovery shall commence very soon,&#8221; Whalemap commented on a chart showing BTC supply levels by price.<\/p>\n<blockquote><p>&#8220;Almost no supply at prices above 59k.&#8221;<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/c9a86b35-6de5-4404-bc22-2ea4f67ee1a3.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin supply vs. BTC\/USD chart. Source: Whalemap\/ <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Short_squeeze_or_resistance_slap_at_64000\"><\/span>Short squeeze or resistance slap at $64,000?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The only hurdle left is a sell-wall at the current highs, something which has been countered by bullish data about the origins of the current bull run phase.<\/p>\n<p><strong><em>Related:\u00a0Think $60K is the top? This Bitcoin fractal suggests it\u2019s the next bear market bottom<\/em><\/strong><\/p>\n<p>According to Ki Young Ju, CEO of on-chain analytics firm CryptoQuant, Bitcoin&#8217;s recent price surge is not the result of speculators or shorts being &#8220;squeezed&#8221; out \u2014 but large-volume buyers on derivatives platforms.<\/p>\n<p>This firmly differentiates Q4 from earlier phases, notably that which produced the all-time highs from the start of 2021 onwards.<\/p>\n<p>As such, a classic &#8220;short squeeze&#8221; scenario, where bears are wiped out in a cascading ascending price structure, has yet to even h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>en.<\/p>\n<p>&#8220;Massive BTC buying market orders in derivative exchanges are not from short liquidations,&#8221; Ki wrote in a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptoquant.com\/quicktake\/616926ff2ab1b51d93161261-This-rally-has-been-driven-by-whale-buying-not-short-squeeze\">blog post<\/a>\u00a0on Friday. <\/p>\n<blockquote><p>&#8220;This indicates: 1\/ There are no big short positions liquidated so far 2\/ Whales punted long positions since the dip.&#8221;<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/9a10642d-15e2-4d83-bce6-bbfbb5091c7f.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin derivative exchange short liquidations ratio chart. Source: CryptoQuant<\/em><\/figcaption><\/figure>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-gets-green-light-for-price-discovery-with-almost-no-supply-on-exchanges-above-59k\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin gets green light for price discovery with &#8216;almost no supply&#8217; on exchanges above $59K &#8221; Bitcoin (BTC) is now free to surge not only to existing all-time highs but beyond, analysts have said. Analyzing orderbook data on Oct. 15, monitoring resource Whalemap revealed that Bitcoin had already beaten all major resistance levels. Bitcoin&#8230;<\/p>\n","protected":false},"author":1,"featured_media":353259,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTAvOTY2YTc1NGYtNTQ3YS00NjUyLWEwNDMtZDQ1MGY2NTAwOTU5LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-353258","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/353258","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=353258"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/353258\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/353259"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=353258"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=353258"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=353258"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}