Best Crypto to Buy Now June 19 – Brett, Arweave, Fetch.ai

cryptonews.com:

Despite Bitcoin’s recent dip below $70,000 and a $2 billion sell-off, especially from Bitcoin miners, key indicators suggest traders are still bullish.

While macroeconomic factors like slowing US economic growth and high interest rates have pressured crypto prices, resilient derivatives markets and major player actions indicate confidence in an imminent upswing.

Bitcoin whales, miners, and top derivatives traders are still slightly optimistic. On exchanges like Binance and OKX, the long-to-short ratio has risen, even as BTC fell below $68,000, indicating larger players are opening new long positions, unfazed by the price pullback.

Deribit options data reveals an important shift in sentiment, with declining demand for sell options and a clear preference for buy options over the past few days.

This suggests that Bitcoin whales and market makers were well-prepared for the recent downturn, seizing the opportunity to accumulate more and buy the dip.

While short-term price volatility is expected, many analysts argue that Bitcoin’s daily price action still exhibits technical strengths that support a bullish narrative. Read more from our Bitcoin price prediction.

Starting with $BTC today, price is currently hovering around a significant confluence of the VAL, which is acting as a strong support.

I expect a fifth wave expansion in the coming days, with a target towards $73k.

Any daily close below the VAL will invalidate this scenario. pic.twitter.com/yMt3pcPKr3

— LSD.eth (@LSDinmysoul) June 19, 2024

Overall, while there are some short-term uncertainties, the combination of resilient derivatives data, accumulation patterns from major players, and bullish technical cues seem to outweigh immediate price pressures, keeping traders positioned