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Following the approval of spot Bitcoin ETFs, there has been a notable shift in BTC trading patterns on U.S.-available platforms.
Hourly BTC-USD trade volume has spiked around 8-9PM UTC time, which corresponds to the daily close on U.S. markets (3-4PM EST) — link
💰 #ARB & 💰 #OP
$ARB & $OP went below the broken major resistance and now back above the one👀
Honestly these wicks below the resistance look bullish✈️
🚨$XRP / USDT : 1H
• The price is exhibiting a pattern of lower lows and lower highs below the 200 EMA. Currently, it seems to be going through a correction phase, showing a retracement towards the resistance zone.
• Based on this, it is expected that the price will reverse from the resistance zone and continue its decline, potentially testing the previous swing low.
Sell : $0.525
TP : $0.504
SL : $0.536
📍#Bitcoin Update (continuous)
➡️Bitcoin is forming a ascending triangle Pattern on 1h time frame. This is Bullish Pattern.
➡️If Bitcoin follows this pattern we will see Breakout and price will start moving up.
➡️Next major support level is near 41,200. Bitcoin need to reclaim its position above this level in order to gain bullish momentum
Stay tuned for more info!!
💰 #BITCOIN
Less than 90 Days left until 2024 Halving Event🔥
2012 - We are -68% below ATH🔻
2016 - We are -64% below ATH🔻
2020 - We are -50% below ATH🔻
2024 - Currently -38% below ATH🔻
in short-term we likely to see a deeper correction📉
Accumulate #BTC before it's too late 🚀
Will $BTC All-Time Value Metric and Short-Term Cost Basis Hold?
$38K is Panic Zone.
Bitcoin dips, presenting crucial on-chain levels to watch closely!
➡️ All-time average MVRV: ~$40,000
➡️ Short term cost basis: ~$38,000
These are KEY areas for #BTC
Keep a close eye on how price reacts around these levels as the market evolves.
However, if Bitcoin falls under $38,130, short-term BTC holders will find themselves underwater.
This could trigger a new wave of panic selling as they rush to cut losses!
🚨$LDO / USDT : 1H
• The price is currently trading in a downtrend. In correction phase , It's facing rejection at a resistance zone and showing weakness in bullish momentum.
• It is anticipated that the price will resist a breakout and continue to decline, testing its previous swing low. To manage risk, a stop loss (SL) can be placed above the 200EMA.
Sell : $2.80
TP : $2.60
SL : $2.94
#Bitcoin Update continuous
➡️Bitcoin price is still holding below 40,000 and volume is still low in the market. Finding rates are still positive which indicates we may see more drop.
➡️Bitcoin need to reclaim its position above 41,000 in order to gain bullish move. Grayscale again sold Bitcoin which is creating panic in the market.
➡️But the good thing is other investments firms like BlackRock are buying the Bitcoins.
Stay tuned for more info!!
The 2024 #Bitcoin Supply Crunch Cometh
In just 9 days of ETF trading:
🟢 ~1,20,000 $BTC bought by #ETFs
🟢 Grayscale sold ~1,15,000 BTC
🟢 27K mined/month today
🟢 13.5K to be mined post-halving
Simple math:
🟢 New ETF demand outweighs
🟢 Selling pressure &
🟢 Dilution from new supply
Once #Grayscale unwinding slows, brace for fireworks as hodlers like yours truly continue stacking sats.
With the trifecta of:
🟢 Surging institutional inflows
🟢 Decelerating miner selling
🟢 Plus supply shock from halving
2024 promises a supply-driven #BTC melt-up for the ages.
Stack sats & hold on tight!
📢 Important Alert: Bitcoin Price Manipulation Uncovered
Today, $647.1M withdrawn from GBTC, while Tether magically prints the same amount on Tron. Allegedly sent to Justin Sun, a controversial figure, claiming it's for Bitcoin purchase.
With Wall Street unloading after ETF drama, and Tether propping up artificially, crypto faces a precarious situation.
This isn't about popularity; it's a rigged casino.
Acknowledge reality, take profits wisely, and never invest more than you can afford to lose.
Stay informed!
This is #BTC rangebound movement in a nutshell. The extremes were set back in December, the price still respects them!
#BTC has broken the range low and just retested it. If bulls don't catch the momentum, we are up to one more leg down 🙃
#Bitcoin ETFs
➡️ Over the last 7 trading days,
➡️ 9 recently introduced spot Bitcoin ETFs
➡️ Purchased around 108,000 BTC,
➡️ Equivalent to a total value of $4.3 billion USD.
➡️ This total doesn't include $GBTC, factoring in conversion with outflows.
➡️ As we enter Day 8 of trading,
➡️ The accumulation of Bitcoin by these ETFs continues.
🚨 $BAR / USDT : 1H
• Based on the price movement analysis, it appears that we are currently observing a downtrend with the price trading below the 200 EMA, forming lower lows and lower highs.
• Recently, the price broke through a significant support zone that it had been holding. As a result, it is anticipated that the price will continue its decline and potentially establish new lows.
Sell : $2.30
TP : $2.14
SL : $2.42
#Bitcoin Update (continuous)
➡️Bitcoin breakdown this support level and also give closing Belo this support level which is not good.
➡️But the good thing is CME gap is finally filled. We may see some more drop in price around $37,500 and after that price will again start moving up.
➡️Altcoins are bleeding very badly. You can start taking entries in some strong coins like matic , op , arb , xmr for long term.
Stay tuned for more info!!!
#BTC is at new lows! We never saw a 2nd retest, but got a retest of the broken $40200 support.
Nothing to hold it below, let it bleed until at least $37k - $38k!
💰 #Bitcoin plays as textbook📝
Fakeout above the recent swing high
2023 Feb - 24258🔻
2023 Mar - 29380🔻
2023 Jun - 31458🔻
2023 Dec - 44729🔻
Then $BTC breaks below 50 MA and going for the liquidity which is generally exists below the swing low📉
So far pattern plays out good
→ We got a Fakeout above 44729 Swing High → Crossed below 50 MA → Last step is to dump below 33407 Swing Low
Short-Term we might see a bounce back to 50 MA, but I am looking for the setup to play out nevertheless!
Latest Major ETFs #Bitcoin Scorecard:
1⃣ Grayscale : $21.4 Billion
2⃣ Blackrock : $1.89 Billion
3⃣ Fidelity : $1.76 Billion
4⃣ Bitwise : $510 Million
5⃣ VanEck : $119 Million
6⃣ Wisdom Tree : $8.3 Million
The #Bitcoin halving is now less than 3 months away. Keep an eye..
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💰 #Bitcoin Cycle Master
According to Previous Cycles we are now in the period of struggling - the period when we deal with a 🟣Fair Market Value resistance
Breakout of the 🟣Fair Market Value lead to further rally [The Main Cycle Rally📈]
What to expect the Mid-Term🧐
• Correction not to be lower than 🔵Under Valued line
• In case of a Black Swan Event to 🟢Cycle Lows line
And this period of struggling is your last chance to accumulate #BTC at cheap prices as after halving we will break through 🟣Fair Market Value and rally hard🚀
🚨$BIFI / USDT : 4H
• The price is currently exhibiting a downtrend, characterized by lower lows and lower highs, while adhering to the 50EMA as a dynamic resistance level.
• We're currently observing a correction phase, which may lead to a potential pullback near the 50EMA and resistance zone.
• Based on this analysis, it is anticipated that the price will retreat from this zone and continue its decline, ultimately testing its previous swing low.
• It may be prudent to wait for the pullback and reversal of the price before considering a short position.
Sell : $337
TP : $311
SL : $352
💥 Tesla Stands Strong on their #Bitcoin Holdings!
➡️ Holding Tesla firm to $388 million (9,720 BTC) in Q4 2023 showcases their LONG-TERM commitment to crypto as a strategic asset.
➡️ Originally buying 42,902 BTC, Tesla has sold 77.34% of their starting Bitcoin holdings. ( From 42,902 to 9,720 Bitcoins )
👉 July 2022: Tesla held 42,902 bitcoins, in July 2022
👉 September 2023 : Tesla held 10,725 bitcoins in Sep 2023
👉 Q4 2023: Tesla held 9,720 bitcoins in Q4 2023
#CryptoEase
Breaking News: Binance CEO Changpeng Zhao Facing Investigation
🔹 Allegations of a massive fraud scheme have surfaced, and CZ is seeking court permission for the 4th time to travel to the UAE, citing a family member's surgery.
🔹 Offering a staggering $4.5B in equity from Binance US as assurance, CZ's desperate attempts raise eyebrows. Is this a bold move or an admission of guilt?
🔹 The question remains:
Will he return if granted permission, or is this a calculated attempt to vanish?
The crypto world is on edge as the drama unfolds.
Stay tuned for updates.
Open long in $SOL ( Not use more then 2x to 3x leverage)
Entry in between - $86.7 to $83.4
Sl - $81.1
TP 1 - $89
TP 2 - $91.5
Tp3 - $92
Bitcoin ETF Fund Flow Scorecard.
The Good, the Bad, and the Ugly.
The bad news
👉 Grayscale dumped a ton of bitcoin
👉 For the 8th day in a row, GBTC transferred an additional 18,500 Bitcoin to Coinbase.
The good news
👉 The majority of the sell-off involved FTX, which has now completed its sales, offloading around 2.5 million shares daily for 8 days.
👉 Additional positive news: Despite the GBTC (Grayscale Bitcoin Trust) sell-off, there has been a net inflow of $1.1 billion, equivalent to 28,000 Bitcoin today.
👉 Growth observed in the FBTC (Fidelity Bitcoin Fund) - faster than Blackrock.
The ugly news:
It’s a paper Bitcoin promise. Avoid and stack sats to self custody. Preferably cold storage for large amounts!
Grayscale was holding 620k Bitcoins two weeks ago. Now it's 515k Bitcoins and the number is dropping every day!
I have no idea why they decided to keep high fees and essentially lose their clients 🙈
The new ETFs took seven trading days to amass BTC holdings of more than 100,000 BTC
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Major Market Movements:
Bitcoin :
Fell below $39,000 for the first time since December 1. Triggered by institutional sales linked to ETFs; short-term investors exiting at a loss.
FTX's FTT :
Rose as much as 11% following a significant share dump of Grayscale ETF. Boosted by the sale of 22 million shares of Grayscale’s GBTC bitcoin ETF, worth nearly $1 billion.
Donald Trump’s Stance :
Reiterated opposition to Central Bank Digital Currencies (CBDCs). Credited Vivek Ramaswamy for the policy, emphasizing his stance against a digital dollar.
Latest Prices:
➡️ CoinDesk 20 Index 🔻: 1,502 (down 6.5%).
➡️ Bitcoin (BTC) : $38,846 (down 4.6%).
➡️ Ethereum (ETH) : $2,212 (down 6.7%).
➡️ S&P 500 : 4,850.43 (up 0.2%).
➡️ Gold : $2,025 (up 0.3%).
➡️ Nikkei 225 : $2,025 (up 0.3%).
More than $800,000,000 in #Bitcoin Long positions will be wiped if $BTC hits $42,000!
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