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⚡️Daily analysis of the cryptocurrency market from open and closed sources. @Disclaimer_information @PaidPromotion_only @Insider_Private Channel owner:- @MrBybit
On this day 15 years ago, Satoshi Nakamoto published the #Bitcoin Whitepaper.
Happy Bitcoin Whitepaper Day, everyone! 🫡
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#MacroCRG
#BTC_Update 4H
Bitcoin looking like a bearish pennant
Think it nukes hard from here tbh
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834,694,407 #USDT (835,489,453 USD) transferred from #Binance to unknown wallet
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#joaowedson
BTCE Fund Increases Its Holdings by 5,101 BTC, Unveiling a Strong Correlation with Bitcoin Price and Signaling Market Trends.
The Bitcoin Fund (BTCE), managed by ETC Group, recently experienced a notable increase of 5,101 BTC in its assets, making a significant impact on the market. This astonishing growth in its fund holdings demonstrates the ongoing confidence of investors in Bitcoin and BTCE as a reliable investment vehicle in the cryptocurrency space.
What makes this growth even more impressive is the remarkable correlation between the movements of the BTCE Fund and Bitcoin price fluctuations. This high correlation provides a solid metric for closely monitoring the cryptocurrency market. When BTCE fund assets increase, it often coincides with a rise in Bitcoin's value, and vice versa.
Furthermore, it is worth noting that historically, whenever BTCE Fund reserves have declined, the price of Bitcoin has retreated significantly. This trend reinforces the idea that the BTCE Fund serves as a reliable indicator of the direction of the Bitcoin market, signaling investor confidence or caution.
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Governments should create a global minimum tax on the super-rich similar to deliver a significant boost to revenues, the EU Tax Observatory said.
Applying a 2% rate to the wealth of the world’s 2,750 billionaires could raise some $250 billion a year, per Bloomberg.
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#Bitcoin closed at the highest price in 78 weeks!
Just getting started...
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Saudi Arabia's NEOM Investment Fund plans to invest US$50 million in Hong Kong Web3 Group Animoca Brands. NEOM is funded by Saudi Arabia's sovereign wealth fund and is led by Saudi Crown Prince Salman Jr. with a scale of US$500 billion. — link
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🇨🇴 Cocaine to overtake oil as Colombia's largest export, Bloomberg reports.
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Binance US Head of Legal and Chief Risk Officer are leaving the crypto exchange, per WSJ.
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The U.S. is spending 100% of current tax receipts on social programs and entitlement benefits, and then an additional 33% equivalent of tax receipts each on interest expense and the defense budget.
Sustainable 👍
Regardless of political affiliation they're all just emptying the coffers on their way out. Red team vs Blue team is a farce.
Call that nihilism all you want, it's reality.
There is no sense of fiscal prudence and there is simply no incentive for that to change.
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The U.S. Market Leverage Ratio is at historical highs, and available cash in customers' securities margin accounts continues to decline📉, which could lead to a credit event approaching. When leverage begins to cool steadily, the S&P 500 will dive🤿 into the $3,872-$3,492 range.
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Vitalik Buterin said in Singapore today that Hong Kong has shifted to a cryptocurrency-friendly stance since the end of last year, but the stability of the degree of friendship is difficult to judge. If Hong Kong can make people believe that friendly relations are stable, then it is in a good position. TheBlock
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European Central Bank (ECB) unexpectedly raises rates by 25 basis points.
This is their 10th consecutive rate hike putting rates at 4.5%, their highest since 2001.
The ECB also cut all their growth forecasts through 2025.
The fight against inflation is far from over.
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Bybit CEO Ben Zhou said the UK Financial Conduct Authority’s new marketing rules coming into effect on October 8 could mean Bybit’s exit from the UK. He said Bybit will have to leave many countries, most recently France. Theblock reported. — link
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#CJ
#BTC_Update 1H
Two levels of interest today
- 26584 high confluent with H4 EMA 200
- 25596 low above iFVG
Interested in a short if we run the high and reject, otherwise a flip and reclaim is bullish and will expect H4 EMA 200 to become support (bullish).
Or, long @ 25596 low
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#Unbelievably
Here is the premises of the Supreme Court of Great Britain: occult symbolism in the form of an all-seeing eye is located in full view of everyone.
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#scottmelker
THE FLOOD GATES ARE OPEN - LARGEST WEEKLY INFLOWS INTO CRYPTO IN YEARS!
Crypto-focused investment funds experienced a net inflow of $326 million last week, marking the most significant weekly influx since July 2022, as reported by CoinShares. This surge is attributed to growing optimism about the U.S. SEC's potential approval of the first spot bitcoin ETF. James Butterfill from CoinShares anticipates that a spot-based ETF could soon be approved, marking a significant regulatory shift for the crypto industry.
However, while the recent inflows are substantial, they rank only 21st in the three-year history of CoinShares' records, suggesting a level of investor caution. Bitcoin funds dominated the inflows, accounting for 90%, while Solana (SOL) witnessed $24 million in net inflows. On the contrary, ether (ETH) funds saw a net outflow of $6 million, taking the total outflows for the year to $125 million.
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It's Fed week and markets continue to speculate on what the Fed will do.
Here's a chart showing market expectations about where interest rates will go at different points in time.
Interestingly, the market is almost NEVER right when it comes to forecasting rates.
In fact, beyond the next FOMC meeting markets rarely ever forecast correctly.
Currently, rate CUTS are expected to begin in June 2024 with a 36% chance of another HIKE ahead.
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🇬🇧 UK to regulate crypto in 2024.
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📊 CME becomes second-largest Bitcoin futures exchange as open interest surges
The Chicago Mercantile Exchange (CME), a regulated derivatives exchange that lists Bitcoin
BTC futures, now stands just behind Binance in terms of notional open interest to rank second in the list of BTC futures exchanges.
The CME’s open interest hit $3.58 billion on Oct. 30, pushing the regulated derivatives exchange platform to jump two positions from the previous week. The CME overtook Bybit and OKX with $2.6 billion and $1.78 billion in open interest, respectively, and is just a few million away from Binance’s $3.9 billion.
Makes it even more interesting to watch those CME gaps 😉 🔗link
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🇺🇸Developers of powerful artificial intelligence systems will be required to share the results of security testing with the US authorities, it follows from Biden's decree
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🌍 Timeline of big events (10/30-11/5):
📌 This week is a super central bank week for the Fed rate meeting, and the odds are that there will not be a rate hike based on current market conditions, which are more consistent with the market's view that the rate hike is in the rearview mirror. The entry of external funds, including ETFs, is noteworthy, and the most difficult time for the crypto market may have passed.
10/30 Monday *
🎙 U.S. judge asks Coin and SEC to resubmit joint status report
11/1 Wednesday *
🎙 US ADP Employment for October
💼 U.S. Treasury announces bond issuance plans for the next three months
11/2 Thursday ***
🎙 Fed interest rate decision
🎙 Bank of England interest rate decision
💼 US initial jobless claims for the week
Friday 11/3 *
💼US unemployment rate for October
💼 US quarterly non-farm payrolls for October
💼 Apple reports Q4 FY2023 earnings and hosts conference call
📌 Pay close attention to market movements before and after relevant events and adopt investment strategies accordingly. Good luck with your investments!
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#CryptoMichNL
#BTC_Update 4H
Bitcoin seems likely for a breakout upwards, but some crucial levels need to break!
#Bitcoin might be able to activate a potential bullish breakout, although we need to make sure that it doesn't retest the lows again.
On the day that Deutsche Bank is also getting in Bitcoin.
We've seen a sweep at $25,000 and should be holding up on higher numbers.
In that case, we should be holding $25,600-25,900 as beneath there we'll see a ton of stops to be activated before we can actually see some movements.
I think that the odds of the low to be in on this cycle have increased. Why? Well, we're again holding above the 200-Week EMA and most likely will be closing above that again for this one.
September is not rektember and seems to be that we'll be having continuation from here. That would automatically also mean that we'll be having a continuation on the altcoins.
What are the levels I'll be looking at for potential trades?
- Clear break above $26,800 is a continuation long play.
- Range low at $25,600-25,900 is a massive long entry if that retest is going to occur.
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#XRPCommunity #SECGov v. #Ripple #XRP In the #LBRYcom appeal, #JohnEDeaton1has filed his Notice of Appearance on behalf of Amicus Curiae Naomi Brockwell.
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#BTC_Update 1D
Bullish Divergence!
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#BTC spot premium increasing while price pumps
Binance funding turning negative
$EURUSD nuking & holding near LOD is only concern - yearly open reclaim is needed then we'll really have a party on our hands
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This is incredible:
1. China unexpectedly cut rates by their most since 2020
2. Europe unexpectedly raised rates to their highest since 2001
3. The Fed is expected to pause rate hikes for months
4. Australia paused rate hikes four months ago
5. Argentina unexpectedly raised rates to a record 118%
6. Canada paused rate hikes but "prepared to hike more if needed"
Central banks around the world are doing completely different things.
Truly historic times.
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#EURUSD
🤯
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Deutsche Bank partners with Taurus to offer digital asset custody and tokenization services — link
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😮📊 The #Ethereum network just saw 1,089,893 unique wallets acting as a sender or receiver of $ETH on Wednesday, the 2nd highest amount in the asset's 8+ year history. This historic anomaly could be the capitulation signal needed for prices to rebound.
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