@stewbits22 27 July 2021 more from that month

What is the evidence that Bitcoin is about to start a big move higher? William Clemente III newsletter https://btcbywc3.substack.com/p/supply-squeeze I was impressed with this newsletter as it mentioned a supply squeeze forming just a couple of days ago and before price moved sharply up while most people were asking how low will Bitcoin go. Other evidence of a further supply squeeze? 1. A chart of miners holdings of Bitcoin shows they are building up their Bitcoin reserves reducing supply at the exchanges. 2. Over the Counter Desks (large bitcoin dealers). Large buyers of Bitcoin are increasing their orders resulting in an outflow from OTC desks. 3.Long term holders of Bitcoin as identified by onchain analysis continue to aggressively build their Bitcoin reserves. 4. On the technical analysis side the daily Relative Strength Index has been declining for several months in a row and has Bitcoin at heavily oversold levels and after yesterdays short squeeze has broken this down trend. 5. Perpetual Funding Rate. What is this? This takes a bit of explaining Say I have a long position on Bitcoin Cash Perpetual Futures Contract. This is a bet that BCH will increase over time. The perpetual part means the contract renews each month without me having to do anything. If current price is below my purchase price I dont have the actual BCH in my balance but rather the profit or loss is shown as the difference of current price from my purchase price. So if I bought 5 BCH perps at $500 and current price is $480 my balance would show $100 owed. This loss is like a debt that interest is paid on. I pay this interest to the short traders to keep my losing position open in the hopes it will go into profit again. If price goes too far against me my position may get liquidated if I dont have enough funds to pay the interest. The funding rate is the amount of interest paid on all losing postions that pegs perpetual contracts to the spot price. If Longs are losing the funding rate is positive. But since May funding rates have been negative which means shorts are paying longs to keep their losing positions open. It has stayed negative during the pump setting up Bitcoin for another large short squeeze. That covers the main point in the letter There is plenty more analysis in the newsletter so please take a look.