{"id":157872,"date":"2022-05-19T16:51:11","date_gmt":"2022-05-19T16:51:11","guid":{"rendered":"https:\/\/precoinnews.com\/?p=157872"},"modified":"2022-05-19T16:51:11","modified_gmt":"2022-05-19T16:51:11","slug":"bitcoin-could-be-entering-an-accumulation-range-three-arrows-capital-co-founder","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/bitcoin\/bitcoin-could-be-entering-an-accumulation-range-three-arrows-capital-co-founder\/","title":{"rendered":"Bitcoin Could be Entering an Accumulation Range &#8211; Three Arrows Capital Co-founder"},"content":{"rendered":"<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/Bitcoin-BTC-Accumulation-770x433.jpg\"><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Bitcoin has Exhibited Strength Over Stocks.<\/h2>\n<p>Zhu Su pointed out that Bitcoin is exhibiting remarkable strength against stocks, and its Asian trading hours are now showing more strength than US trading hours.<\/p>\n<p>Furthermore, he pointed to the recent 7k Bitcoin flow into Canada&#8217;s Purpose Bitcoin ETF during last week&#8217;s turmoil as a sign that buyers are stepping up at current BTC levels. He also shared the following reasons as to why he believes Bitcoin is likely in an accumulation range:<\/p>\n<ul>\n<li>The resurgence of Tether FUD in the crypto markets is similar to late 2019, when the markets were cooling down after a year-long sell-off.<\/li>\n<li>Bitfinex Bitcoin longs hitting new all-time highs.<\/li>\n<li>Traders are now starting to short Bitcoin to hedge against private sales.<\/li>\n<\/ul>\n<h2>Possible White Swan Triggers for Bitcoin<\/h2>\n<p>Mr. Su also shared that there could be three White Swan events that could catalyze the accumulation of Bitcoin by retail traders, institutions, and even sovereign countries. The White Swan events include:<\/p>\n<ul>\n<li>El Salvador&#8217;s Bitcoin conference hosting 44 global central banks<\/li>\n<li>Potential of OPEC to use Bitcoin in international payments<\/li>\n<li>Commodity nation sovereign wealth to conduct thesis-driven allocations of Bitocin<\/li>\n<\/ul>\n<h2>Three Arrows Capital Was Hit Hard by UST&#8217;s Depegging and LUNA&#8217;s Market Meltdown<\/h2>\n<p>Also worth mentioning is that in an earlier Tweet, Zhu Su had confirmed that Three Arrows Capital had suffered some losses due to UST&#8217;s depegging and the LUNA market meltdown that soon followed. He said:<\/p>\n<blockquote>\n<p>Some ppl asked me why I am keeping luna in my profile Its bc i invested in it, believe in the community, and share in the common purpose.<\/p>\n<p>The attacks and subsequent de-peg risks were flagged by critics; the fast-growing ecosystem shouldve done more to move slowly+safely.<\/p>\n<p>This has been an incredibly humbling week and its difficult to find the right words.<\/p>\n<p>The critics had genuine concerns about peg risks and going fwd discussion must be encouraged, &#8220;fud&#8221; must be met w refutations, growth must be organic even if slower.<\/p>\n<p>This is Terra&#8217;s DAO hack moment I will not pretend to know what the future holds but I will do my part to help.<\/p>\n<\/blockquote>\n<p>According to a Bloomberg report, Three Arrows Capital and Jump Crypto had participated in a $1 billion sale of LUNA tokens in February of this year.<\/p>\n<p>&nbsp;<\/p>\n<p>Source: <a href=\"https:\/\/en.ethereumworldnews.com\/bitcoin-is-entering-an-accumulation-range-three-arrows-capital-co-founder\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin has Exhibited Strength Over Stocks. Zhu<\/p>\n","protected":false},"author":3,"featured_media":157871,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Could be Entering an Accumulation Range - Three Arrows Capital Co-founder - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/bitcoin\/bitcoin-could-be-entering-an-accumulation-range-three-arrows-capital-co-founder\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Could be Entering an Accumulation Range - Three Arrows Capital Co-founder - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Bitcoin has Exhibited Strength Over Stocks. 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