{"id":10492,"date":"2023-02-20T15:35:17","date_gmt":"2023-02-20T15:35:17","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=10492"},"modified":"2023-02-20T15:35:18","modified_gmt":"2023-02-20T15:35:18","slug":"bitcoin-regains-25k-amid-hope-record-china-easing-will-boost-btc-price","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=10492","title":{"rendered":"Bitcoin regains $25K amid hope record China easing will boost BTC price"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Bitcoin (BTC) spent another day tackling $25,000 on Feb. 20 as analysts continued to warn over market manipulation.<\/p>\n<p><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/p>\n<h2>Bitcoin buoyed by &#8220;Notorious B.I.D.&#8221;<\/h2>\n<p>Data from Cointelegraph Markets Pro and TradingView showed BTC\/USD making up losses from around the weekly close to approach the $25,000 mark again at the time of writing.<\/p>\n<p>Bulls remained unable to spark a resistance-support flip, however, and whale activity on exchanges kept suspicions high.<\/p>\n<p>In its latest update, monitoring resource Material Indicators revealed that large-volume traders were artificially \u201cthinning\u201d resistance overhead, making it more likely that BTC\/USD would move higher.<\/p>\n<p>Co-founder Keith Alan referenced a wall of bid liquidity buoying spot price, something he called the \u201cNotorious B.I.D.\u201d<\/p>\n<p>\u201cMultiple rejections from $25k correlates perfectly with BTC macro TA which is a valid reason to TP at these levels, but Notorious B.I.D. is still trying to push price up,\u201d a tweet stated. <\/p>\n<p>\u201cBased on the history, and the potential to rip through upside illiquidity, I&#8217;m still scalping longs.\u201d<\/p>\n<p>Material Indicators added that \u201cFrom a TA perspective this should be a local top, but Notorious B.I.D. is still running the binance order book.\u201d <\/p>\n<p>\u201cThey are distributing BTC ask liquidity out of the $25k &#8211; $25.5k range into the active trading zone so resistance is thinning,\u201d part of comments additionally read.<\/p>\n<p>A potential plan among such traders could be to spark a large price run, causing retail investors to pile in or go long, then get stuck as whales distribute BTC to the market at higher levels.<\/p>\n<p><em>BTC\/USD order book data (Binance). Source: Keith Alan\/ Twitter<\/em><\/p>\n<h2>China could boost &#8220;liquidity junkie&#8221; crypto<\/h2>\n<p>With United States markets closed for a holiday, meanwhile, one analyst turned to longer-term implications of moves from China.<\/p>\n<p><strong><em>Related:\u00a0A \u2018snap back\u2019 to $20K? 5 things to know in Bitcoin this week<\/em><\/strong><\/p>\n<p>In addition to potentially allowing Hong Kong retail investors access to previously-banned crypto, the Chinese central bank injected a record $92 billion of liquidity into the economy\u00a0on Feb. 17.<\/p>\n<p>\u201cWhile most analysts are focused on how the Fed tightening will reprice risk assets this cycle, they&#8217;re failing to consider the scale of easing in the east,\u201d popular Twitter account Tedtalksmacro argued in a thread.<\/p>\n<p>It explained that unlike in the U.S., where the Fed is withdrawing liquidity via quantitative tightening (QT), China is doing the opposite. In 2020 under the Fed\u2019s COVID-19 quantitative easing (QE), risk assets including crypto saw an eighteen-month bull run.<\/p>\n<p>\u201cCrypto is not tied to any particular economy or entity, but rather is a liquidity junkie &#8211; it longs for the risk-hungry investor to get cash and bet on the fastest horse. That&#8217;s set to be exactly what will happen this year in China,\u201d the thread continued.<\/p>\n<p>As Cointelegraph reported, U.S. already liquidity forms a major talking point when it comes to cryptoasset performance, with Arthur Hayes, former CEO of derivatives giant BitMEX, predicting downside continuing in the second half of 2023.<\/p>\n<p>\u201cOf course, not all of the cash injected by the PBoC will end up in risk assets. But I&#8217;d bet that a decent portion of it will!\u201d Tedtalksmacro nonetheless concluded. <\/p>\n<p>\u201cJust like we saw from the West in 2020, heightened liquidity from central banks = prices of risk assets (like BTC) go up.\u201d<em>BTC\/USD vs. U.S. liquidity annotated chart. Source: Tedtalksmacro\/ Twitter<\/em><\/p>\n<p class=\"post-content__disclaimer\">The views, thoughts and opinions expressed here are the authors\u2019 alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.\n<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-regains-25k-amid-hope-record-china-easing-will-boost-btc-price\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) spent another day tackling $25,000 on Feb. 20 as analysts continued to warn over market manipulation. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin buoyed by &#8220;Notorious B.I.D.&#8221; Data from Cointelegraph Markets Pro and TradingView showed BTC\/USD making up losses from around the weekly close to approach the $25,000 mark again at the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10493,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-10492","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/10492","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10492"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/10492\/revisions"}],"predecessor-version":[{"id":10494,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/10492\/revisions\/10494"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/10493"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10492"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}