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📍#Bitcoin Update (Continue)
Bitcoin breakdown the Symmetric Triangle pattern and continue its downside Movement.
RSI is also at an Oversold area which is a positive sign. Soon we can expect a positive upside movement in Bitcoin price.
$22,500 is working as a good resistance level. A break above this level could give more strength to bulls.
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Top 3 Countries with the most properties available to purchase with #crypto 😉
1. Spain 🇪🇸
2. Thailand 🇹🇭
3. Portugal 🇵🇹
Federal Reserve Bank of New York data shows global supply chains are back to pre-pandemic levels.
Читать полностью…🏦 Banking to block crypto? Crypto shall open its own!
This is the policy that the Kraken exchange team has decided to follow.
The company's blog has officially confirmed that Kraken Bank is coming this year. The first customers of the bank would be Kraken's American customers. Moreover, it is indicated that the project will be scaled to all jurisdictions of interest.
🛑Surprisingly, back in September 2020, the exchange received the charter of the Kraken Special Purpose Bank on behalf of the state of Wyoming. Isn't this a sign of fate? A special purpose bank called Kraken!
Unleash the Kraken! Godspeed, guys!
Key Dates to Watch in March 🗓️
10 Mar: US Non-farm Payrolls
10 Mar: Mt. Gox Distribution
14 Mar: #CPI Data Release
15 Mar: #PPI Data Release
21/22 Mar: #FOMC Meeting
30 Mar: GDP Report
🔶Liquid staking is now the second-largest crypto sector.
🔶It replaces DeFi lending in terms of value.
🔶Cryptocurrencies worth $14 billion are deposited in liquid staking.
🔶The value is second only to decentralized exchanges.
🔹Huge liquidation of Long positions in Bitcoin trading yesterday.
🔹$43.5 million worth of Long positions were liquidated in just one hour.
🔹Bitcoin's price plummeted by $23.3k, dropping to $22.4k (-6%).
🔹This is the largest Long liquidation spike since the beginning of the year.
March hasn't been kind to #Bitcoin with prices falling in 7 out of the past 12 years.😶
Читать полностью…Bitcoin Fear and Greed Index is 50 — Neutral
Current price: $23,771✅
📍#Bitcoin update (Continue)
Bitcoin got Multiple Rejection from Upper Trendline and price continue to go down.
Bitcoin is still struggling to make a move above the $23,600 resistance zone. An immediate resistance is near the $23,450 zone.
The first major resistance is near the $23,650 zone. A break below this pattern could start a bearish momentum in price.
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Binance vs Coinbase hence #btc dumped 😱😨
https://twitter.com/bitcoin_duniya/status/1630243282923184128?s=46&t=rRHnOMiecyfrrajpkyxUPQ
The Bitcoin Ecosytem Narrative List
$STX - smart contracts
$RIF - identity & storage
$SOV - build defi on BTC
$BADGER - defi for BTC
$HARD - lending & borrowing BTC
$PNT - ptokens for BTC
$BCH - fork
🤼♂️ Long and short positions duking it out📉
While 🧘♂️ HODLer sits back and buys the dip😎
🚀📈 Liquid staking is on fire 🔥!
The Shanghai upgrade has sparked massive growth
The market now accounting for 40% of ETH staking. 💰
💸 Lido leads the charge
But competitors like Frax, Rocketpool, and StakeWise are intensifying the race.🏁
📍#Bitcoin Update (Continue)
Bitcoin is Forming a Symmetrical triangle pattern in the lower time frame and the price got rejected from the upper trendline of the pattern.
A break below this level could send the price near $22,100 which is working as a good support level.
Bitcoin needs to give a candle closing above this pattern to gain Bullish momentum.
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🥇 Mt. Gox creditors may receive repayments from March 10 onward.
137,890 $BTC($3B) unlock is coming soon!
Mt. Gox suspended withdrawals on Feb 7, 2014, when the price of $BTC was ~$800.
And the current price of $BTC is $22,408.
Will creditors sell BTC after receiving it?
📈 The interest rate forecast for 2024 has just been released
🔹It indicates that there will be three rate cuts by July 2024.
🔹However, the probability of a 50 bps rate hike this month has risen to 31%.
🔹On top of that, the markets are predicting that there's a 13% chance of interest rates surging above 6% by September.
📍#Bitcoin Update (Continue)
The price of Bitcoin is currently on a downward trend and is expected to close in the red for the weekly candle.
In order for Bitcoin to gain bullish momentum, it needs to reclaim its position above $24,000.
The support level of $21,400 is proving to be effective in preventing the price from dropping further.
However, if the price breaks below this support level, it could result in a further drop towards the next support level of $20,500.
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📍#Bitcoin update (Continue)
Bitcoin showed a significant Downside Move and the price reached its demand zone.
Bitcoin price is now Accumulating near its demand zone from where we can expect a bounce back.
RSI is also at the Oversold area which indicates a positive sign. But still, the volume is low.
If bitcoin continues its downside Movement we can expect a reversal from its next demand zone which is near $21,600 to $21,300
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🤯 Trezor’s cold wallet was subjected to a phishing attack.
The company warned its users a couple of days ago about a new phishing attack. The phishing campaign involves intruders posing as Trezor and contacting victims through phone calls, text messages and emails.
👉🏻 Be careful not to go to unknown sites, always double-check from whom the letter❗️
When they ask how much % is #Bitcoin down today 😂
Читать полностью…🇺🇸 U.S. JOBLESS CLAIMS RISE 190,000; EST. 195,000; PREV. 192,000
Читать полностью…🇺🇸 Over 20% of American adults own crypto and a majority see a need to update the financial system, Coinbase survey reveals.
Читать полностью…Whale Suffers Massive Loss After Moving 15,715 Bitcoin😱🐳
▶ A loss of -$229,030,410 has been recorded as a result of this transaction
▶ The coins were purchased for $38,054 about a year ago
▶ But they have just been moved at $23,480, which is -40%
After Bitcoin bear market bottoms, we tend to see a month of drastic price appreciation followed by a month or period of consolidation.
Nov '22 = Bottom
Jan '23 = 40%
Feb '23 = 1%
Dec '18 = Bottom
Feb '19 = 11%
Mar '19 = 7%
Jan '15 = Bottom
Feb '15 = 18%
Mar '15 = -4%
📍#Bitcoin Update (Continue)
Bitcoin's weekly candle closed in the red as expected.
Price declined below the $23,200 support level and briefly tested $22,750
Bitcoin has since bounced back and is now trading above $23,200.
The next major resistance level is around $24,000, and a clear break above that could push the price towards $24,600.
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