{"id":111422,"date":"2024-10-07T13:04:48","date_gmt":"2024-10-07T06:04:48","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=111422"},"modified":"2024-10-07T13:04:48","modified_gmt":"2024-10-07T06:04:48","slug":"usdt-borrowing-rises-eyeing-bitcoin-will-btc-reclaim-70k","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=111422","title":{"rendered":"USDT borrowing rises, eyeing Bitcoin: Will BTC reclaim $70K?"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<ul>\n<li><em>More USDT borrowing than Bitcoin during price dips.<\/em><\/li>\n<li><em>Liquidation heatmap showing the way for BTC is up.<\/em><\/li>\n<\/ul>\n<p><a href=\"https:\/\/ambcrypto.com\/category\/bitcoin-news\/\" data-wpel-link=\"internal\">Bitcoin [BTC]<\/a> has seemingly found a local bottom near the midpoint of the downward trend channel it has followed for the past seven months.<\/p>\n<p>After briefly touching $66K, BTC began correcting, leading many traders to speculate that Q4 could bring bullish momentum to the broader cryptocurrency market.<\/p>\n<p>One interesting metric supporting this sentiment is the shift from borrowing BTC during price pumps to borrowing USDT during price dips.<\/p>\n<p>Traders are increasingly borrowing USDT to \u201cbuy the dip\u201d and increase their exposure to Bitcoin, which is a positive indicator for the upcoming quarter.<\/p>\n<div id=\"attachment_430561\" style=\"width: 2570px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZIslUFW8AAx9fj-scaled.jpg\" data-wpel-link=\"internal\"><img loading=\"lazy\" aria-describedby=\"caption-attachment-430561\" decoding=\"async\" class=\"wp-image-430561 size-full\" alt=\"\" width=\"2560\" height=\"1399\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZIslUFW8AAx9fj-scaled.jpg 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZIslUFW8AAx9fj-300x164.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZIslUFW8AAx9fj-1024x560.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZIslUFW8AAx9fj-768x420.jpg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZIslUFW8AAx9fj-1536x840.jpg 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZIslUFW8AAx9fj-2048x1120.jpg 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZIslUFW8AAx9fj-1200x656.jpg 1200w\" data-lazy-sizes=\"(max-width: 2560px) 100vw, 2560px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZIslUFW8AAx9fj-scaled.jpg\"\/><img loading=\"lazy\" aria-describedby=\"caption-attachment-430561\" decoding=\"async\" class=\"wp-image-430561 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZIslUFW8AAx9fj-scaled.jpg\" alt=\"\" width=\"2560\" height=\"1399\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZIslUFW8AAx9fj-scaled.jpg 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZIslUFW8AAx9fj-300x164.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZIslUFW8AAx9fj-1024x560.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZIslUFW8AAx9fj-768x420.jpg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZIslUFW8AAx9fj-1536x840.jpg 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZIslUFW8AAx9fj-2048x1120.jpg 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZIslUFW8AAx9fj-1200x656.jpg 1200w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\"\/><\/a><\/p>\n<p id=\"caption-attachment-430561\" class=\"wp-caption-text\">Source: Hyblock Capital<\/p>\n<\/div>\n<p>\u00a0<\/p>\n<h2><strong>Bitcoin breaking market structure<\/strong><\/h2>\n<p>The current price action of Bitcoin further supports this bullish outlook. After breaking the market structure of the BTC\/USD pair, the price dropped to establish a higher low following significant long liquidations.<\/p>\n<p>This local bottom now sets the stage for a potential move upward. To maintain the bullish trend, BTC needs to break above the Daily 200 Moving Average (200MA) and surpass last week\u2019s highs.<\/p>\n<p>If Bitcoin can push through these resistance levels, the $70K level will become the next critical target, signaling stronger bullish momentum as Q4 progresses.<\/p>\n<div id=\"attachment_430560\" style=\"width: 1150px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZG-PfQWAAAtDDd.jpg\" data-wpel-link=\"internal\"><img loading=\"lazy\" aria-describedby=\"caption-attachment-430560\" decoding=\"async\" class=\"wp-image-430560 size-full\" alt=\"\" width=\"1140\" height=\"799\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZG-PfQWAAAtDDd.jpg 1140w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZG-PfQWAAAtDDd-300x210.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZG-PfQWAAAtDDd-1024x718.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZG-PfQWAAAtDDd-768x538.jpg 768w\" data-lazy-sizes=\"(max-width: 1140px) 100vw, 1140px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZG-PfQWAAAtDDd.jpg\"\/><img loading=\"lazy\" aria-describedby=\"caption-attachment-430560\" decoding=\"async\" class=\"wp-image-430560 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZG-PfQWAAAtDDd.jpg\" alt=\"\" width=\"1140\" height=\"799\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZG-PfQWAAAtDDd.jpg 1140w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZG-PfQWAAAtDDd-300x210.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZG-PfQWAAAtDDd-1024x718.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZG-PfQWAAAtDDd-768x538.jpg 768w\" sizes=\"auto, (max-width: 1140px) 100vw, 1140px\"\/><\/a><\/p>\n<p id=\"caption-attachment-430560\" class=\"wp-caption-text\">Source: TradingView<\/p>\n<\/div>\n<h2><strong>Short-Term Holder MVRV and SOPR retesting<\/strong><\/h2>\n<p>Additional metrics like the Bitcoin Short-Term Holder MVRV and SOPR also point to positive outcomes.<\/p>\n<p>Both metrics are retesting their neutral \u201c1\u201d line, indicating that if they bounce from this position, it will confirm a more bullish outlook for BTC.<\/p>\n<p>This is a critical moment for short-term speculators, as a bounce here would further fuel price appreciation, potentially rewarding both short-term traders and long-term holders.<\/p>\n<div id=\"attachment_430557\" style=\"width: 1588px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZJNBk6WMAA5uX0.jpg\" data-wpel-link=\"internal\"><img loading=\"lazy\" aria-describedby=\"caption-attachment-430557\" decoding=\"async\" class=\"wp-image-430557 size-full\" alt=\"\" width=\"1578\" height=\"761\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZJNBk6WMAA5uX0.jpg 1578w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZJNBk6WMAA5uX0-300x145.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZJNBk6WMAA5uX0-1024x494.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZJNBk6WMAA5uX0-768x370.jpg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZJNBk6WMAA5uX0-1536x741.jpg 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZJNBk6WMAA5uX0-1200x579.jpg 1200w\" data-lazy-sizes=\"(max-width: 1578px) 100vw, 1578px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZJNBk6WMAA5uX0.jpg\"\/><img loading=\"lazy\" aria-describedby=\"caption-attachment-430557\" decoding=\"async\" class=\"wp-image-430557 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZJNBk6WMAA5uX0.jpg\" alt=\"\" width=\"1578\" height=\"761\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZJNBk6WMAA5uX0.jpg 1578w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZJNBk6WMAA5uX0-300x145.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZJNBk6WMAA5uX0-1024x494.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZJNBk6WMAA5uX0-768x370.jpg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZJNBk6WMAA5uX0-1536x741.jpg 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZJNBk6WMAA5uX0-1200x579.jpg 1200w\" sizes=\"auto, (max-width: 1578px) 100vw, 1578px\"\/><\/a><\/p>\n<p id=\"caption-attachment-430557\" class=\"wp-caption-text\">Source: The Bitcoin Lab<\/p>\n<\/div>\n<p>Such a scenario would increase the likelihood of BTC reaching new highs before the end of the year.<\/p>\n<h2><strong>Massive liquidity resting above<\/strong><\/h2>\n<p>Furthermore, the Bitcoin liquidation heatmap reveals that a significant amount of liquidity now sits above the current price level.<\/p>\n<p>Since price movements often gravitate toward areas of high liquidity, this suggests that BTC is poised for upward movement.<\/p>\n<p>The most substantial liquidity zone lies between $63K and $66K, meaning Bitcoin could experience a \u201cshort squeeze\u201d if upward momentum gains traction in the coming days.<\/p>\n<p>While there is some liquidity below $60K, it is not as concentrated, indicating that the path of least resistance is upward.<\/p>\n<div id=\"attachment_430556\" style=\"width: 1375px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZG-kA3WIAA-eOb.jpg\" data-wpel-link=\"internal\"><img loading=\"lazy\" aria-describedby=\"caption-attachment-430556\" decoding=\"async\" class=\"wp-image-430556 size-full\" alt=\"\" width=\"1365\" height=\"705\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZG-kA3WIAA-eOb.jpg 1365w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZG-kA3WIAA-eOb-300x155.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZG-kA3WIAA-eOb-1024x529.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZG-kA3WIAA-eOb-768x397.jpg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZG-kA3WIAA-eOb-1200x620.jpg 1200w\" data-lazy-sizes=\"(max-width: 1365px) 100vw, 1365px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZG-kA3WIAA-eOb.jpg\"\/><img loading=\"lazy\" aria-describedby=\"caption-attachment-430556\" decoding=\"async\" class=\"wp-image-430556 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZG-kA3WIAA-eOb.jpg\" alt=\"\" width=\"1365\" height=\"705\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZG-kA3WIAA-eOb.jpg 1365w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZG-kA3WIAA-eOb-300x155.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZG-kA3WIAA-eOb-1024x529.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZG-kA3WIAA-eOb-768x397.jpg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/GZG-kA3WIAA-eOb-1200x620.jpg 1200w\" sizes=\"auto, (max-width: 1365px) 100vw, 1365px\"\/><\/a><\/p>\n<p id=\"caption-attachment-430556\" class=\"wp-caption-text\">Source: Coinglass<\/p>\n<\/div>\n<hr\/>\n<p style=\"text-align: center;\">Read <a href=\"https:\/\/ambcrypto.com\/predictions\/bitcoin-price-prediction\" data-wpel-link=\"internal\">Bitcoin\u2019s [BTC] Price Prediction<\/a> 2024\u20132025<\/p>\n<hr\/>\n<p>Bitcoin appears to be well-positioned for potential gains as Q4 progresses. Metrics such as increased USDT borrowing, the establishment of a local bottom, and the liquidity heatmap all point to a bullish outlook.<\/p>\n<p>With the $70K level in sight, BTC may be gearing up for a strong finish to the year, rewarding traders who have positioned themselves for the next leg up.<\/p>\n<div class=\"post-nav\">\n<div class=\"next-blog\">\nNext: <a href=\"https:\/\/ambcrypto.com\/blackrock-bitcoin-is-gold-alternative-ethereum-a-technology-bet-why\/\" rel=\"prev\" data-wpel-link=\"internal\">BlackRock: Bitcoin is \u2018gold alternative,\u2019 Ethereum a \u2018technology bet\u2019 \u2013 Why?<\/a> <\/div>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/ambcrypto.com\/usdt-borrowing-rises-eyeing-bitcoin-will-btc-reclaim-70k\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>More USDT borrowing than Bitcoin during price dips. Liquidation heatmap showing the way for BTC is up. Bitcoin [BTC] has seemingly found a local bottom near the midpoint of the &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=111422\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-111422","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/111422","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=111422"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/111422\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=111422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=111422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=111422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}