🚨 Bitcoin is Rebounding! 🚀

Bitcoin touches $60,000 as it works it's way out of the market crash from the past week.

Hey Thinkers 💡

Bitcoin is showing some recovery as it touched $60,000 today. Don’t get me wrong, we're not out of the woods yet, but this is a positive sign that could eventually lead to the next breakout to new highs. The breakout could happen over the next few weeks or a couple of months—hopefully sooner rather than later.

Here are some key stats and metrics from our partner Santiment:

1. Bitcoin's whale transactions saw the highest levels in 4 months on August 5th and 6th

   

2. During the ranging between $50K and $65K, mentions of "$40K-$45K" represent bottoms, because they're a sign of panic. Meanwhile, "$70K-$75K" are great top signals, because they're a sign of greed. (this is one of my new personal favorite charts)

   

3. Here are how precise those bottom signals are with highlighted arrows I made.

   

4. Bitcoin ETF volume had a few minor jumps, but is staying pretty on par with what we've seen since May.

   

5. We also saw tons of shorts getting liquidated as traders tried to take advantage of the price drop, and didn't expect the rebound that crypto had. Many of them were heavily liquidated.

   

6. Finally, total open interest dipped big for BTC and ETH. If it stays low, it's a sign that there is a healthy amount of fear in the markets.

   

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   -Tony

   Disclaimer - Thinking Crypto and Tony are not financial or investment experts. You should do your own research on each cryptocurrency and make your own conclusions and decisions for investment. Invest at your own risk, only invest what you are willing to lose. This newsletter is for educational purposes and NOT investment or financial advice.