Can Eric Trump’s ‘Bitcoin to $1 mln’ prediction come true? Assessing…
Key Takeaways
Why is Bitcoin primed for a squeeze?
$5.13 billion briefly publicity stacked at key liquidation zones makes Bitcoin loaded with brief stops.
Does Eric Trump’s “purchase the dip” name make sense?
Bitcoin’s This fall seasonal momentum and a short-heavy futures setup create ripe circumstances for a possible squeeze, making it a well-timed play.
The road between politics and crypto is getting blurrier by the day.
The market simply bled near $30 billion this week, pushing the TOTAL market cap right down to $3.72 trillion. That wipes out all of September’s beneficial properties, a month normally heavy on risk-off flows.
Proper within the combine, Eric Trump is placing some pores and skin within the recreation.
In an interview with the “New York Submit,” he referred to as out a $1 million Bitcoin [BTC] wager by year-end, underscoring BTC’s historic This fall tailwind.
“Crypto is rising quicker than the web ever did, and the longer term appears to be like unimaginable. This fall this yr may very well be unbelievable. Bitcoin would possibly even surpass $1 million as world quantitative easing kicks in. With M2 cash provide skyrocketing worldwide, circumstances are ripe.”
In the meantime, Donald Trump has repeatedly taken photographs at Fed Chair Jerome Powell.
His newest meme-tweet, “you’re fired,” rapidly stirred market chatter, including one other layer of volatility to the macro backdrop.
Briefly, Eric Trump’s “purchase the dip” submit wasn’t simply off the cuff.
As a substitute, it adopted a 40-minute interview and Donald Trump’s visible jab on the Fed. So, with seasonal This fall momentum kicking in, are the Trumps front-running a structural setup the market hasn’t totally priced in but?
Bitcoin liquidity beneath stress
October’s bullish edge is evident from the 2022 cycle.
Even in a bear market, with BTC ending the yr 60%+ under its $47k open, October nonetheless noticed a 5.56% ROI. That confirmed how seasonal momentum can align with structural setups and short-squeeze potential.
Proper now, stacked brief liquidity clusters have been fueling Bitcoin’s transfer again towards worth discovery.
With BTC wiping out all of September’s beneficial properties, concentrated brief leverage is constructing, setting the stage for a squeeze.
Bitcoin’s 30-day heatmap backs this up
Supply: CoinGlass
Quick liquidations over the previous month outpaced longs by roughly 77%, with leverage dominating the brief aspect with almost $5.13 billion in cumulative brief publicity.
Merely put, Bitcoin was stacked with brief stops. Nonetheless, a $1 million goal is perhaps bold.
Nevertheless, the structural circumstances are ripe for a critical squeeze, making Eric Trump’s “purchase the dip” play a well-timed name on BTC’s setup, given the bullish Q4 macro setup.
