The specter of China and its crypto ban may have just finally left Bitcoin markets.
It’s also a potential reason for optimism going forward as the Chinese exchange overhang will be cleared from the end of this month.
"I think this probably explains why we’ve seen Bitcoin typically trade weaker over Asia hours vs US and European hours," Blockstream analyst Jesse Knutson wrote in the firm's latest"It’s also a potential reason for optimism going forward as the Chinese exchange overhang will be cleared from the end of this month."On shorter timeframes, thin holiday liquidity could provide another reason to discard price dips like the one seen Friday.
I'm not very confident in the direction of this flush. Don't think it's as clear as late July for ex. Just know it will come. This is why I've been advocating to have clear invalidation points. $53K served well in not buying the top on Monday.
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