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⚡️Daily analysis of the cryptocurrency market from open and closed sources. @Disclaimer_information @PaidPromotion_only @Insider_Private Channel owner:- @MrBybit
#CryptoYoddha
#BTC_Update 7D
No one knows where the top for this BTC rally will form
But on one thing we all will agree that there are so many support levels from the current price but there are no resistance levels
Let the price discover what's next
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A jury in the U.S. District Court for the Southern District of New York found Terraform Labs and Do Kwon liable for crypto-asset securities fraud. Jurors agreed with the SEC that Kwon, as well as Terraform Labs, deceived ordinary investors about the nature of the algorithm that pegged UST to the U.S. dollar. — link
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#DaanCrypto
My thoughts on $ETH's situation 👇
The prediction markets for a spot $ETH ETF approval by May 2024 are sitting unchanged at ~18% for a while.
We've done a lot of unpricing coming from the ~80% probability we had earlier this year. This has obviously weighed down on $ETH massively.
These are the 3 scenario's I'm looking at and at which stage I'd then consider adding $ETH exposure:
A. Positive news surrounding the $ETH ETF, which makes it seem like the ETF by May is doable.
For $BTC it took quite a long time to properly price these things in. Back in October 2023 we were trading at $25K while the probability was sitting at ~90%. I would expect the market to act quicker this time around but you'll likely have a good few hours/days to add exposure. This scenario seems unlikely as we speak.
B. Probabilities of an ETF approval by May, fall even lower to a few %, still some weeks before the May deadline.
That way the risk/reward is getting to some extreme levels in case of some unexpected positive news or accelerated progress prior to the deadline. This scenario seems unlikely for now but would result in the most extreme reaction and possibly some assymetric return.
C. The ETH Spot ETF is denied in May.
Some time after the ETF is denied. Issuers like Blackrock are likely to refile relatively soon after. With all hopes crushed, short term ETF approvals completely unpriced and the ETH/BTC chart even more in the gutter, this will be the point of maximum opportunity for the year to come.
This is the most likely outcome as we speak. This is also the easiest and safest way to prepare for. You'll have a decent amount of time to allocate at attractive valuations when this happens I think.
I might be outdated in this regard, but I still prefer ETH over other L1s simply because it always works. Yes, it is expensive but I never have issues with transactions failing or just simply not showing up.
Then we also have the L2s which are solving the fee issue and have been pleasant to use. Whether it's Base, Arbitrum, Optimism, Mantle or something else. They do what you want them to do.
I do already hold a good bunch of $ETH as a long term spot bag which I am not planning to sell any time soon. I do think the lower ETH goes, the better the risk/reward gets and the more I'd look to allocate into it.
As long as the BTC ETF inflows stay strong, it will be hard for ETH to keep up with it, without any new catalyst/narrative. I do think that relative to the rest of the market, ETH is getting to very interesting valuations.
Lastly, we know how narrative tends to follow price and not the other way around. So while we might see some more "ETH is dead" posts coming out, we know how quickly that changes on the first best 10% green candle.
For now, we simply wait and see. ✌️
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Zimbabwe launches gold-backed currency to replace battered local dollar, per Reuters.
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#TheCryptoDog
#NEAR makes a move soon. Maybe not today but soon.
BTC flat, SOL red, NEAR green makes me pay attention.
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Historic trends suggest #Bitcoin goes hyper-bullish after halving for a year.
2012 First Halving — 2013 Major Top (9500% Upside)
2016 Second Halving — 2017 Major Top (2800% Upside)
2020 Third Halving — 2021 Major Top (600% Upside)
2024 4th Halving — 2025 Major Top (Expect 150-250% Upside)
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#ETH_Update
ETH falls to its lowest valuation against Bitcoin $BTC in 3 years
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The U.S. announced that the seasonally adjusted non-farm payrolls increased by 303,000 in March, significantly exceeding market expectations of 200,000.
The U.S. unemployment rate was 3.8% in March, with 6.4 million unemployed. The unemployment rate has been in a narrow range of 3.7% to 3.9% since August 2023.
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#DaanCrypto
Remember when #altcoins used to skyrocket the moment #Bitcoin traded sideways?
Good days.
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#profitexecutor
#BNB is forming a bullish pennant pattern on the 4-hour timeframe🔍
A successful breakout from the pennant pattern is expected soon📈
In case of an upside breakout, a 20-25% bullish wave is anticipated in the coming days📝
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🇺🇸Happy US Jobs Report Day!
Here's What To Know:
-March Nonfarm Payrolls Est.: 212,000
-February Payrolls: 275,000
-March Unemployment Rate Est.: 3.9%
-Feb. Unemployment Rate: 3.9%
-March Avg. Hourly Earnings Est.: 4.1%
-Feb. Avg. Hourly Earnings: 4.3%
-Time: 8:30AM ET
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#CryptoPoseidonn
$BTC dominance just breakout 160 days consolidation, the whole meme season happened in this range. If we see weekly closes above it, bitcoin will take the lead again.
The last leg up before the money flow from bitcoin to altcoins.
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#mysteryofcrypto
#Polkadot is currently in a Reaccumulation phase🔥
Sooner or later, $DOT will break out of this phase and go parabolic.📈
Remember, on January 11, 2021, DOT surged from $9 to $19.434 in just a week.
Currently, there is $7.1 billion in total value locked on the #Polkadot relay chain‼️
However, the actual game will begin with the Polkadot 2.0 release.🔥
$16 to $26 is going to be the Next Stop.
It's just a Game of Patience.🤞
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In alignment with current market trends and to better meet users’ needs, the second largest offshore exchange OKX has decided to phase out the generation of EOS and ETC USDT-margined and crypto-margined expiry futures. — link
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🇺🇸 Just as everyone forgot, banks continue to carry alarming amount of unrealized losses.
In Q4 2023, unrealized losses on investment securities for banks hit $478 BILLION.
This compares to over $100 billion of unrealized GAINS seen in 2020 when the Fed started cutting interest rates.
Meanwhile, the Bank Term Funding Program has officially expired.
This was the emergency loan program established during the regional bank crisis.
We believe bank collapses are likely not over yet.
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The Spot #Bitcoin ETF inflow yesterday was: +$203,000,000
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#BTC_Update
Bitcoin open interest reveals the total bet on Bitcoin futures or options at a given moment, showcasing traders' price speculations without owning the asset.
As open interest swells with fresh contracts, bullish sentiment skyrockets.
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#SatoshiFlipper
Powell and Co have little to do with the next rate cut. He's been so clear about everything. If you're paying attention, the inflation data should speak for itself. When we get closer to the goal of a YoY CPI of 2%, this is when we should expect the PIVOT.
It's literally that simple! We're at 3.2% now.
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Coinbase Research: The capital unlocked by the ETFs perhaps represents the most fundamental shift in market structure. These capital unlocks, coupled with the upcoming Bitcoin halving, make us still largely constructive in our view throughout Q2. Read more — link
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A magnitude 5.5 earthquake has struck the Greater New York area, one of the strongest ever recorded.
Many residents of New York City are reporting feeling the earthquake which shook thousands of buildings.
The earthquake was felt by residents of New Jersey as well.
Prior to this, the largest known earthquake in this region occurred in 1884 and had a magnitude of ~5.2.
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Bloomberg: FTX estate sold between 25 million and 30 million locked Solana (SOL) coins to companies including Galaxy Trading and Pantera Capital for $64 each ($174 now). Galaxy raised $620 million to buy discounted SOL. Pantera Capital raised $250m. — link
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#XForceGlobal
#BTC_Update
Shorter Timeframe Analysis
Due to the immense variances of how one can see a triangle, here is another possibility of how we can see it. By allowing one complex wave within the triangle, one can even see the current range as such.
Tbh, impossible to trade and optimize an outcome. It's about managing expectations of the overall macro idea of consolidation, including the WXY double zigzag (if we go lower).
Keep it simple, a break of the regional lows would be the obvious Y wave of a larger WXY, or, we are in a triangle.
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🇦🇺The first #Bitcoin spot ETF in Australia to go live "in 2024," asset manager Monochrome says.
It would be the first Australian ETF to hold $BTC directly.
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#C2MCrypto
#BTC_Update
How Ironic that the apex of this HTF consolidation is EXACTLY on the date of the Halving.
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Exchanges BTC Long/Short Ratio 1H
🤔👀
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The Spot #Bitcoin ETF inflow yesterday was: +$106,800,000
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Google filed a lawsuit against two Chinese nationals in the Southern District of New York on Thursday, accusing them of using its Google Play store to scam more than 100,000 users globally out of money through fraudulent cryptocurrency investment apps. — link
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FUN FACT: 13 years ago today, the #Bitcoin price was $0.78 ✨
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#Bluntz_Capital
#SOLusdt 6H
A sweep of 160 seems likely to me before we can think about the next leg up on $SOL imo.
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