Binance founder Changpeng Zhao, aka CZ, shared his advice for those who missed the recent Bitcoin price rally to a new all-time high (ATH). He highlighted that Bitcoin is still in a dip, aligning with his previous prediction.
In an X post on July 11, CZ Binance suggested that those who missed buying Bitcoin at previous dips will get buy-the-dip opportunities again in the future. By definition, charts never move in a straight upward line and all tradable assets dip before hitting their next ATH.
In fact, he believes Bitcoin is still in a dip now. He earlier predicted that Bitcoin price could hit $500K to $1 million this cycle amid massive adoption by Wall Street firms, hedge funds, Bitcoin ETFs, and governments. He has advised investors to buy Bitcoin to diversify their portfolios many times.
Bitcoin price continued to move higher with liquidity support from the Global M2 money supply. There’s only a limited number of bitcoins available, but infinite fiat printing.
BTC price is currently trading at $118,010, more than 6% higher over the past 24 hours. The 24-hour low and high are $110,660 and $118,410, respectively.
CoinGlass data showed total BTC futures open interest hit ATH, rising 6% to $82.85 billion in the last 24 hours. BTC futures OI on CME and Binance climbed more than 9% and 6%, respectively. This signals bullish sentiment among derivatives traders.