Buy Presale
The traditional expression is “Buy the rumor, sell the news.” That means traders purchase based on positive rumors, then sell when the actual news is released. In this case, “buy the news” means that everyone already knows what’s coming, and it is already priced in the market(s). Currently, the market is overpricing in fear and selling off as a result. When the FOMC meeting occurs and uncertainty is removed, the market may react favorably even if at a headline it’s ‘bad’. It’s not about the actual news, but the delta to priced-in expectations
Bitfinex Limit Order Book Hints A “Buy The News” Event for Bitcoin (BTC)
December 14, 2021
Updated December 16, 2021
By
Prashant Jha
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CoinGape has covered the cryptocurrency industry since 2017,
aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy,
our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a
rigorous Review Methodology when evaluating exchanges and tools. From emerging
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Bitcoin (BTC) fell over 10% on Monday as the crypto market registered another flash crash in December. BTC price fell to a daily low of $45,894 before recovering above $47K. However, it lost $47K support again early Tuesday and was trading at $46,664 at the time of writing.
The market slump was attributed to a recent class-action lawsuit filed against Tether and its entities in a New York court over allegations of fraud. Another key factor that many belive is playing a key part in the recent crypto market slump is the upcoming Fed meeting on Wednesday. The U.S consumer inflation hit the highest in four decades and the upcoming fed meeting is expected to announce the faster tapering of bond purchases. This could potentially trigger an upswing in inflation hedges like gold and Bitcoin.
Gold prices have already started to show an uptick and the stock market is recovering as well, and crypto could potentially be the next.
Bitfinex’s Bitcoin Limit Order Book Hints at “Buy The News” Event
Despite the current market slump Bitcoin whales have continued accumulation across the board. Bitfinex crypto exchange’s limit order book indicated that the retail market is selling in a panic ahead of the FOMC meeting while whales have continued their accumulation. The FOMC meeting could be the potential trigger point, and experts belive the current market is the perfect “Buy the News” scenario.
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Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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