BlockBeats reported on Aug. 26 that crypto analyst CW said Bitcoin needs three conditions before a broad rally can begin: a Hyperliquid whale turning bullish, a Bitfinex whale completing BTC long-position accumulation, and the disappearance of negative Kimchi premium and negative Coinbase premium. CW said two of those conditions have already been met. The market’s next focus is whether the Hyperliquid whale flips long, which CW said could act as a catalyst for a new Bitcoin leg higher. CW also noted that the view is his personal opinion, and that premium swings and whale-position changes are typically only reference signals for market sentiment and fund flows.
Bitcoin still needs one final condition before a broad rally can begin, according to crypto analyst CW.
In a post on Aug. 26, CW said Bitcoin would need three things in place: a Hyperliquid whale turning bullish, a Bitfinex whale finishing BTC long-position building, and the disappearance of negative Kimchi premium and negative Coinbase premium.
Two of those conditions have already been met, CW said. The Bitfinex whale has completed BTC long accumulation, while the negative Kimchi premium and negative Coinbase premium have both disappeared.
That leaves the Hyperliquid whale as the main focus for traders now. If that whale turns bullish, CW said, it could serve as a catalyst for a new Bitcoin rally.
CW also stressed that the view reflects his personal opinion. Premium moves and whale-position shifts, he noted, are usually only useful as references for market sentiment and capital flows.
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