-
⚡️Daily analysis of the cryptocurrency market from open and closed sources. @Disclaimer_information @PaidPromotion_only @Insider_Private Channel owner:- @MrBybit
Binance US announced that it has cut one-third of its staff and president Brian Shroder will leave the company. According to TheBlock.
Chief Legal Officer Norman Reed has temporarily taken over as Binance US CEO. A Binance spokesperson said: “The SEC’s aggressive attempts to cripple our industry and the resulting impacts on our business have real world consequences for American jobs and innovation, and this is an unfortunate example of that.” BBG
@Insider_leak_of_the_day
Share with your friends
Judge denies Bankman-Fried's request for pretrial jail release — link
@Insider_leak_of_the_day
Share with your friends
#CryptoMichNL
#BTC_Update
Blackrock, Fidelity, Invesco and now Franklin are all gathering together for #Bitcoin spot ETFs.
This can be the catalyst of a bull cycle for #Bitcoin to perhaps $200,000 or $300,000 a piece.
Yet, you'd like to sell here after these two years for $12,000.
@Insider_leak_of_the_day
Share with your friends
Breaking: The crypto exchange CoinEX is suspected of being hacked, and so far its ETH, TRON, and Polygon hot wallets have lost more than $27.8 million. — link
CoinEX is moving the affected hot wallet assets to the cold wallet address 0xf54...7E5d. CoinEX wallets currently hold $97.83 million in assets, of which $89 million are stored in the cold wallet address 0xf54...7E5d, mainly ETH worth $51.7 million and USDT $18.23 million. — link
@Insider_leak_of_the_day
Share with your friends
#CryptoMichNL
#BTC_Update
The #Bitcoin price took out all the lows & bounces back in the range
Is the bottom in? What are the metrics to watch? It's a strong sign that we're bouncing back up above $26,000 since the correction today.
Just on the moment that Franklin files for a Spot ETF.
Coincidence?👇
The markets are usually looking for liquidity before a reversal could take place.
In that perspective, we can see that Bitcoin took out all the lows and reversed upwards. I've mentioned this level for the past few weeks and we've held that level beautifully.
Additionally, what's next and why did we bounce back upwards?
First of all;
- Franklin, a $1.5T asset manager, files for a Bitcoin Spot ETF and wants to join for a slice of the cake.
- Gensler is in a hearing currently about crypto and we could find some answers regarding a potential ETF approval on Ethereum, or whether Ethereum is a security or not and if not, that would mean the bottom for ETH/BTC is possibly near as a potential ETF futures for Ethereum is on the horizon.
Second;
- CPI is coming tomorrow, which is an important indicator for the markets.
Now, what's next for Bitcoin and what are must-hold levels?
This sweep was quite obvious as we saw a clear reversal upwards since then. The more important factor is that Bitcoin relcaimed the 200-Week EMA, as the second chart shows.
If this weekly closes above that area, we're most likely at the end of the entire correction. Even better, we might be at the start of the next bull cycle wave and people could start getting a bit more excited here.
Which levels are these?
The levels at $25,300-25,600 are the absolute bottom levels which Bitcoin must-hold, preferably higher.
If Bitcoin takes out $26,800, then we're eager for $30,000 next.
Did you buy? I did.
@Insider_leak_of_the_day
Share with your friends
#BTC_Update
Spot Premium increasing and funding rates going more negative.
Shows a sign of decent spot bid and/or excessive shorting.
Not a one-rules-all metric to go by but good to keep an eye on how this evolves.
It could be influenced by longs taking profit as well.
@Insider_leak_of_the_day
Share with your friends
Yesterday, ALT / #BTC pairs went down when BTC went down.
Today, ALT / BTC pairs are going down as BTC goes up.
The altcoin reckoning is the slow and painful bleed of altcoins on their BTC pairs, *no matter the direction of BTC/USD*
@Insider_leak_of_the_day
Share with your friends
What Past Cycles Predict For Recent Price Action! 💰
1️⃣ 100 More Days of 'Sideways' Ahead
2️⃣ End up around ~150% from the bottom, equal to $40k
@Insider_leak_of_the_day
Share with your friends
#Bitcoin MACD cross-over getting wider on the monthly chart.
Bear market is over.
Act accordingly.
@Insider_leak_of_the_day
Share with your friends
#DaanCrypto
#BTC_Update 1H
All the levels I'm watching.
Pretty clear that the $29.5-29.7K region is an area that's strongly contested by the bulls and bears.
It's an important area to keep watching.
@Insider_leak_of_the_day
Share with your friends
Today, the price of #XRP soared to $1.47 on Gemini. This must be a new type of advertising for the exchange.
@Insider_leak_of_the_day
Share with your friends
How is BTC being purchased in the market?
The answer - everything is within the norm. The average Outflow is in the range of 35-60BTC, currently it is 43BTC.
@Insider_leak_of_the_day
Share with your friends
August 11 Options Data
- 17k BTC options are about to expire with a Put Call Ratio of 0.42, a max pain point of $29,500 and a notional value of $510 million.
- 121k ETH options are about to expire with a Put Call Ratio of 0.60, a max pain of $1,850 and a notional value of $220 million.
BTC dominated the week, with the market's focus on mainstream crypto due to the expectation of an ETF passing in place, which resulted in ETH deliveries this week being only half of last week's volume.
Implied volatility of the major-term of BTC and ETH have been inverted frequently this year, and this week the inversion has resurfaced for three days. Currently ETH weekly ATM option IV is only 22%, a few years ago the joke about BTC volatility lower than Chinese stock market, I am afraid that really will be fulfilled in the near future.
@Insider_leak_of_the_day
Share with your friends
Bittrex to pay $24 million to settle with the SEC.
@Insider_leak_of_the_day
Share with your friends
The US just released their July budget report and we are digging into the numbers.
YTD, the deficit just hit a shocking $1.6 TRILLION.
@Insider_leak_of_the_day
Share with your friends
📈 $BUSD Number of Exchange Withdrawals (7d MA) just reached a 1-month high of 7.405
@Insider_leak_of_the_day
Share with your friends
Numerous reports have surfaced, pointing to a potential security breach in #Coinex's #crypto wallets, suggesting a hacker's involvement. 🔗link
@Insider_leak_of_the_day
Share with your friends
SEC Chairman Gensler said at the latest hearing: "We're reviewing that decision. There are multiple spot (Bitcoin) ETP filings (beyond Grayscale) that we're also reviewing and I'm looking fwd to the Staff's recommendation", according to EricBalchunas
A previous court ruling criticized the SEC for similarly stating that there was no reason not to pass a Bitcoin spot ETF instead of a futures ETF.
@Insider_leak_of_the_day
Share with your friends
🇺🇸Speaker McCarthy announces he is directing House committees to open a formal impeachment inquiry into President Biden.
@Insider_leak_of_the_day
Share with your friends
🇺🇸 SEC Chair Gary Gensler says crypto is full of fraud, abuse and misconduct.
@Insider_leak_of_the_day
Share with your friends
Franklin Templeton files with SEC to offer spot Bitcoin ETF
@Insider_leak_of_the_day
Share with your friends
July PPI inflation rises to 0.8%, above expectations of 0.7%.
Core PPI inflation remained unchanged at 2.4%, above expectations of 2.3%.
This is the first monthly increase in PPI inflation since July 2022.
Futures put the odds of a September rate hike at 10%, the lowest in months.
Meanwhile, odds of any further rate hikes at all are at 32%.
The Fed made it clear that economic data before September is crucial.
@Insider_leak_of_the_day
Share with your friends
$XRP hit $50 ✅ on Gemini crypto exchange
This Glitch occurred shortly after the exchange had re-listed #XRP.
@Insider_leak_of_the_day
Share with your friends
Exchanges BTC Long/Short Ratio 1H
@Insider_leak_of_the_day
Share with your friends
The International Energy Agency projects record oil demand in 2023, with further increase in 2024.
@Insider_leak_of_the_day
Share with your friends
📉 #Ethereum $ETH Number of Addresses Holding 10k+ Coins just reached a 2-year low of 1,101
@Insider_leak_of_the_day
Share with your friends
#PROFIT_BLUE
#BTC_Update 4H
Bear flag target is $26500.
@Insider_leak_of_the_day
Share with your friends
Seven Bills May Decide the Future of Crypto in the US By DLNEWS — link
@Insider_leak_of_the_day
Share with your friends
End of the Local Correction?
In recent weeks, there have been notable shifts within the Bitcoin ecosystem, particularly concerning the redistribution of assets among different cohorts of holders. Let's delve deeper into this change and attempt to grasp what it might imply for the market.
1. Key Developments
Since July 26th of this year, the following significant movements have been observed:
The Short-Term Holders (STH) cohort increased its supply by 100,000 BTC, reaching a total of 4.2 million BTC from the previous 4.1 million BTC.
Concurrently, the Long-Term Holders (LTH) cohort showed a decrease in their supply by an identical amount of 100,000 BTC.
2. The Average Coin Age Chart
In addition to the aforementioned shifts, the Average Coin Age chart displays a sharp spike in coin spending during this period, corroborating the reduction in supply among the LTH.
Potential Market Implications
STH Accumulation Phase: There's a potential transition to an accumulation phase by the Short-Term Holders (STH) cohort. This could be a bullish signal for the market since the primary inflow currently originates from this group. If they indeed transition into an accumulation phase, the market might witness the end of the local correction.
Volatility: The heightened activity of the STH could lead to an increase in market volatility, as these holders tend to be less consistent in their investment decisions.
Conclusion
The dynamics between the STH and LTH cohorts indicate a shift in market sentiments. While predicting future trends based on this data can be challenging, the current indicators suggest potential market activation and increased volatility. Investors should remain vigilant and consider adjusting their strategies if necessary.
@Insider_leak_of_the_day
Share with your friends
The US spends another $73.3 billion on interest in July 2023 alone bringing YTD total to $726 BILLION.
We will soon see the first ever 12-month period with $1 trillion+ in interest expense on US debt.
@Insider_leak_of_the_day
Share with your friends