Short squeeze is coming.
A bearish start to September is expected now the Monthly candle closed below $59,000
Naturally there is more short open interest than there has been in the past 2 months
Likely these people are short term correct but long term wrong.
Give them confidence with a small drop in price.
They take larger and larger positions, then some begin to take profit.
When shorts begin to take profit it triggers over leveraged selling off their trades quickly causing price reversal.
This in turn puts more shorts into a loss as Bitcoin price keeps rising.
Remember, there is no limit to how much a short position can lose.
Liquidations can be devastating to those that bet against Bitcoin.
The Week Ahead: Sept ☻
Macro:
⥼ BOC Meeting on 4
⥼ US Jobs Report on 6
⥼ Japan GDP (QoQ) on 8
Crypto:
∾ Cardano’s Chang Hard Fork, will introduce governance features (Sep 1)
∾ Arbitrum's Stylus Upgrade, will enable Rust, C, C++ smart contracts (Sep 3)
∾ MATIC to POL Migration (Sep 4)
∾ Russia begins trials of crypto exchanges and cross-border digital token transactions (Sep 1)
∾ Fantom's Sonic Testnet goes live (This week)
Event:
∾ Korea Blockchain Week, Seoul: 01-07
Speakers: Vitalik B., Richard Teng, Brad Garlinghouse and Founders from: Mysten Labs, BitGo, Polygon, Aptos, Aave, Animoca Brands, Berachain, LayerZero, Monad, MakerDAO, Worldcoin, Sahara AI, Ritual, MegaETH, Wintermute, Ethena, etc etc
Token Unlocks: $380M
⊷ TAIKO: $19M: 19% on 5
⊷ IMX: $43M: 2.1% on 6
⊷ MODE: $6M: 38.5% on 6
🚨BREAKING - DONALD TRUMP TO MAKE BIG BITCOIN ANNOUNCEMENT IN NEXT FEW DAYS: SOURCES
Читать полностью…Stablecoins printed in August:
USDT 🎾 - $3,186,257,334
USDC 🌀 - $853,718,706
EUROC 🌀 - €1,666,093
FDUSD ⚪️ - $0
TUSD 🔷 - $0
PYUSD 🅿️ - $0
💵 TOTAL: $4,041,642,133
REMINDER 🇷🇺: Russia starts using #Bitcoin for international transactions tomorrow! 🚀
Читать полностью…Yuga Labs CEO 💰 said that the Workshop team has been launched, hoping to learn from Coinbase's Base chain and focus on building innovative ApeChain products. Workshop will soon launch the first batch of products on ApeChain, and the mainnet release of ApeChain may be coming soon. — link
Читать полностью…🚨🚨🚨 #Feixiaohao, a major Chinese 🇨🇳 crypto data provider, is under police investigation in Inner Mongolia with several execs arrested over compliance issues.
Читать полностью…🟠 Bitcoin Mining Could Reduce Methane Emissions
🔋A new scientific paper suggests that Bitcoin mining might help lower methane emissions by utilizing landfill gas as an energy source.
By converting methane into CO2, Bitcoin mining could offer a more environmentally friendly alternative, potentially scaling up without the need for government subsidies.
💡This could make Bitcoin a key player in sustainable energy practices.
Crypto losses to hacks exceed $313M in August
Cryptocurrency hackers stole $313.86 million in digital assets in more than 10 cyberattacks in August, raising doubts about the broader acceptance of the asset class.
@Cryptocurrency_media ✅
Grand Kombat is doing a USDT + Airdrop
They partnered with Trust wallet to give a total of 50,000 USDT in rewards to users who reach level 6
( the amount is equally divided between users)
Sign up now and claim you’re airdrops
These are the last chances for the telegram airdrop campaign hypes because they are dying out
JUST IN: 🇺🇸 Donald Trump announces support for legalizing marijuana on day 1 for all states 👀
Читать полностью…Kamala Harris is officially losing the polls for the US presidential election.
This comes after CNN uploaded an edited video which they pretended its live and it was still bad.
Transcripts to be leaked in October but the democrats are trying to stop it from happening
September was the worst month in history but it was the best opportunity to buy everything at the bottom. 😉
Personally just buying spot 👀
🚨Binance has announced that it will suspend all deposits and transactions on the Cardano (ADA) blockchain on September 1st in support of the long-awaited network upgrade and the Chang hard fork
Читать полностью…🇺🇸 US Treasuries just saw a weekly inflow of $8.4 billion, the largest since October 2023
( all the money pretty much came from Warren Buffet )
Bitfinex started twapping $BTC.
Bitfinex is now long. Only exchanges against Bitcoin is coinbase & Binance
BREAKING: 🇺🇸
Trump increases lead over Harris to 6.5 points as Kamala’s ‘honeymoon’ w voters ends abruptly [Nate Silver]
It is illegal for anyone who is not a US citizen to vote.
Biden is making it law so they can… this is crazy!
Just in: Biden to sign a legal mandate to allow all Illegals who came to America to allow them to vote for this upcoming election without being a US citizen.
Читать полностью…