• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance
Breaking News: Crypto Giant Binance In Hot Water: CEO Responds To Trading Violation Claims
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: Crypto Giant Binance In Hot Water: CEO Responds To Trading Violation Claims
Bitcoin is Sucking Liquidity Out of Every Major Market, Charts Show
Advertisement

Bitcoin is Sucking Liquidity Out of Every Major Market, Charts Show

Yashu Gola by Yashu Gola
2 years ago
in Bitcoin
0
Advertisement

On Wednesday, Bitcoin evangelist and Wall Street investor Raoul Pal published a series of charts that pitted the cryptocurrency against major financial markets.

Every graph appeared identical to one another, for they showed how the mainstream assets/indexes were trending lower against Bitcoin, to a point where they all tested a medium-term support trendline. They included gold, the Nasdaq Composite, and its sub-indexes/stocks, which include KBW Bank Index, Treasury Bond ETF Fund, silver, Amazon stock, and others.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
gold, bitcoin, xauusd, btcusd
Gold is looking to attempt a negative breakout against Bitcoin once it closes below the rising trendline support. Source: Bloomberg Terminal

Mr. Pal noted that every index/asset was looking to break bearish on the support trendline. The prediction pointed towards more strength for Bitcoin as it compared the crypto with a “supermassive black hole that is sucking in everything around it and destroying it.”

“You see, gold is breaking down versus bitcoin,” Mr. Pal added. “And gold investors will flip to BTC. The Nasdaq is next. Retail specs are going to flip to bitcoin as it eats techs lunch.”

nasdaq, nasdaq composite, bitcoin, cryptocurrency, btcusd, ndx
Like gold, Nasdaq is also looking to break lower against Bitcoin. Source: Bloomberg Terminal

Weaker Sub-indexes

Some of the Nasdaq’s sub-indexes already broke below the Ascending Trendline support. The KBW Bank Index (NASDAQ: BKX), a benchmark stock index of the banking sector, fell to its lowest levels against Bitcoin as worries over an increase in loan defaults stressed the financial corporations.

Read Further: 3 Biggest Bitcoin Takeaways from JPMorgan’s Q3 Earnings

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Furthermore, the iShares 20+ Year Treasury Bond (NASDAQ: TLT) depreciated against the rising Bitcoin prices, adding to the speculation that the US economy is heading for a prolonged period of lower interest rates. The Federal Reserve has already committed to keeping them near-zero up until 2023.

us bonds, TLT US Equity, iShares 20+ Treasury Bonds, Bitcoin
iShares 20+ Year Treasury Bond ETF dips against Bitcoin. Source: Bloomberg Terminal

The analogy was the same for the G4 Central Bank Balance sheet, the Refinitiv/CoreCommodity CRB Index, and Apple. Everything fell against Bitcoin.

“The macro, flows, technology, demography and societal strains have all converged to this moment in time and the definite answer from markets is Bitcoin,” wrote Mr. Pal. “I get this sounds a little evangelical but I’m struggling to see it any other way right now.”

Bitcoin to $20,000

As money keeps flowing into the Bitcoin market, Mr. Pal also indicated that the cryptocurrency could soon swell back to its previous record high of $20,000.

cryptocurrency, Bitcoin, BTCUSD, XBTUSD, BTCUSDT, Bitcoin Dominance
A break above the $14K level puts Bitcoin en route to $20K, as per Raoul Pal. Source: BTCUSD on TradingView.com

As per Mr. Pal, there is not any historically concrete resistance level above $14,000.

Earlier in 2017, it took BTC/USD only a week to pump from lower $13,000s to as high as $19,891 on Coinbase exchange. While the rally mostly took its cues from the infamous ICO boom, it left little hints for technical chartists to pick their ideal long targets on the next breakout above $14,000.

“I fully expect new all-time highs by early next year at the latest,” Mr. Pal predicted, nevertheless.

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Yashu Gola

Yashu Gola

Globetrotter Yashu Gola has been working as a financial/crypto market journalist since 2013. He is an information technology graduate, a cryptography junkie, a filmmaking enthusiast, and an avid reader of Jon Erickson, Agatha Christie, JK Rowling, and Isaac Asimov.

Related Posts

Bitcoin

Bitcoin Mining Hashrate Registers Third Largest 3-Month Spike In Last 5 Years

11 hours ago
Micheal Saylor Microstrategy accumulates Bitcoin (BTC)

Microstrategy Repays Silvergate Loan As It Expands Bitcoin Holdings

13 hours ago
Bitcoin United States Government

US Government Holds More Bitcoin Than MicroStrategy, Tesla Combined

19 hours ago
Bitcoin and crypto this week

Bitcoin And Crypto Face These Key Dates In The Week Ahead

1 day ago
Bitcoin Hashrate Hits 400 EH/s As Miners Profit From Bull Market

Bitcoin Hashrate Hits 400 EH/s As Miners Profit From Bull Market

3 days ago
bitcoin Tim draper

Billionaire VC Tim Draper Tells Businesses To Keep Payroll In Bitcoin

3 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
UU.Game
UU.Game
K8
K8

Press Releases

  • Market News: Is Cardano (ADA) Whale interested in RenQ...

    1 hour ago
  • Top 5 Crypto Moon Shots March 2023

    12 hours ago
  • HEX looks to AI Heavyweights SingularityNET, Avorak AI and...

    15 hours ago
  • Binance Coin (BNB) Price prediction, Experts think RenQ...

    20 hours ago
  • Betnomi Affiliate Program 2023

    22 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.