Pompliano’s Bitcoin Comments on Fox Business
Bitcoin entrepreneur Anthony Pompliano stated that investors need to reassess why they are holding Bitcoin due to cooling inflation data. In his interview with Fox Business, he emphasized that without daily high inflation pressure, it is becoming harder to believe in the value proposition of limited-supply (21 million) BTC. The Consumer Price Index (CPI) fell to %2.4 in January from %2.7 in December. Pompliano described BTC and gold as long-term assets.
Anthony Pompliano spoke with Charles Payne on Fox Business. Source: Fox Business
Bitcoin Market Sentiment and the Last 30-Day Decline
Bitcoin market sentiment is at its lowest level since June 2022; the Crypto Fear & Greed Index shows 9 points with “Extreme Fear”. BTC is currently trading at 68.893,73 dollars (+3.54% 24s), but has lost %28,62 value over the last 30 days. Click for BTC detailed analysis. Pompliano predicts that deflationary forces will dominate in the short term, but with money printing and interest rate cuts, the US dollar will be secretly devalued (“monetary slingshot”). He stated that BTC will become more valuable as the Fed expands the money supply. The US dollar index is at 96.88 level, down %2.32 over the last 30 days.
Bitcoin fell %28,14 in the last 30 days. Source: CoinMarketCap
Technical Analysis: Support and Resistance Levels
RSI at 35.43 is in the oversold region, the overall trend is downward, and Supertrend is giving a bearish market signal. EMA 20: 74.197$. Strong supports: 65.415$ (score: 76/100, -5.07%) and 60.000$ (67/100, -12.92%). Resistances: 71.247$ (80/100, +3.40%) and 78.145$ (69/100, +13.41%). It is recommended to follow BTC futures.
Binance SAFU Fund Purchased 4.545 BTC
According to Arkham data, Binance’s SAFU fund purchased 4.545 BTC worth 304.58 million dollars. This move reflects institutional confidence despite market fear and supports Pompliano’s long-term thesis.
Crypto ETF Options Starting on NYSE American
NYSE American has approved the listing of options for commodity-based multi-crypto ETFs. This development could accelerate institutional inflows into BTC and trigger market recovery along with ALT coin analyses.
Source: https://en.coinotag.com/pompliano-drop-in-inflation-reignites-debate-on-btcs-value
