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⚡️Daily analysis of the cryptocurrency market from open and closed sources. @Disclaimer_information @PaidPromotion_only @Insider_Private Channel owner:- @MrBybit
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🇺🇸 The final reading of US Q4 2023 GDP comes in at 3.4%, above expectations of 3.2%.
This officially marks 6 consecutive quarters of positive GDP growth.
We have not had 2 consecutive quarters with declining GDP since Q2 2022.
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#BTC_Update 1D
Bitcoin surged 91% in 51 days after the ETF approvals.
If Bitcoin continues this trajectory after the halving in April, it will hit $116,000 by the 10th of May.🚀
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$60B in assets under management
It took Gold ETFs 15 years
It took #Bitcoin ETFs 2 months
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#BTC_Update
liquidation heatmap (12 hour)
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#CryptoYoddha
#BTC_Update 5D
The price is holding up the previous ATH support pretty nicely. We go up from here
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🆘 Liquidation Alert
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Dutch prosecutors are asking for a 64-month prison sentence for Tornado Cash developer Alexey Pertsev for laundering $1.2 billion worth of cryptocurrency. Other Tornado Cash developers linked to Pertsev also face charges of money laundering and sanctions violations in the United States. — link
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The real fun starts after the #Bitcoin halving.
Don’t get shaken out now.
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👀
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#DaanCrypto
#Bitcoin Coinbase Premium 📊
A Coinbase premium may indicate bullish interest from US investors (and ETFs) as most of the buying/selling is done through there vs other exchanges.
Currently we have a small premium after going negative the past 2 weeks.
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$4.5 trillion asset manager Fidelity files S-1 form for Spot Ethereum ETF with staking included.
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The OKX API suddenly failed, and the account balances were displayed in confusion. Some accounts showed zero, and some soared to tens of millions of dollars, affecting thousands of users. Affected areas include Singapore, the United Kingdom, Japan, etc.
Some traders reported that due to the lack of data on positions obtained through the API, some traders suffered large losses. OKX responded that there are currently error reporting issues in the account balance and position interfaces, and the technology is handling it urgently.
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#BTC_Update 4H
Is OBV trying to tell us something? 🤔
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Crypto traders are going crazy.
There are 10 Billion USD long positions that will be liquidated if #bitcoin hits 56,000
And as much as 4 Billion USD short positions will be liquidated if #bitcoin hits 76,000
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#howardcane
#BTC_Update 4H
Bitcoin is moving within a symmetrical triangle pattern and is currently consolidating below the trendline resistance🧐
The Ichimoku cloud and the 50 MA are serving as support levels🔺
A decisive breakout from the triangle would confirm bullish momentum📈
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Ahead of sentencing, SBF's legal team argues for 5-6 years in jail because FTX customers will get money back, per CNBC.
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Google has recently started indexing #Bitcoin data into their search engine 👀
Huge Development 👏
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It won't be long before Blackrock overtakes Grayscale as the #1 ETF in #Bitcoin Holdings.
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#BTC_Update
With such pressure from the bears on futures, it will be difficult for #Bitcoin to dip below.
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🇨🇳 Chinese Banking Bad Loans have climbed to a record high
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#Bitcoin ETF Volume results of Wednesday 27th of March (53rd trading day):
🥇 $IBIT $1,820m
🥈 $GBTC $986m
🥉 $FBTC $590m
🪵🏅$ARKB $195m
Total Volume for The Nine: ~$2.9b
Similar volume compared to yesterday.
GBTC volume increased by 50%, hopefully the outflow of today will be less than yesterday
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#CryptoMichNL
#BTC_Update 4H
Technically, my point of interest in holding on to #Bitcoin lies at $67K.
If that holds, we'll likely see another ATH test pre-halving.
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Deutsche Bank subsidiary publishes bullish #Bitcoin paper
DWS Group is the listed asset manager of Deutsche Bank, which manages approximately €850 billion. Together with Galaxy, DWS has published a paper on Bitcoin with considerations for its portfolio allocation. The paper was published a few weeks ago, but so far the Bitcoin community (or just me) has completely missed it.
Here are the highlights
The crypto market now accounts for around 1% of the market of all investable assets. This is “too big to ignore” - at least for investors who prefer a diversified portfolio.
Using empirical data, an attempt was made to evaluate the effects on the portfolio of adding Bitcoin (or Ethereum) using historical returns, risks and correlations. To compare the returns in recent years, the chart used had to be adjusted to a “semi-log scale”, as the returns of the other asset classes would otherwise only have been visible as a “flat” line. This fact is emphasized in two places in the paper.
At the same time, investors are warned about the volatility, as it is on a scale that most investors would not have experience with.
The authors see the volatility decreasing a little. The establishment of digital assets, the spread of spot ETFs/ETPs and basic regulations (e.g. MiCA) are viewed positively and should reduce volatility in the next few years = reduce the risk.
It is called the Capital Asset Pricing Model (CAPM), which maps all asset classes worldwide. The experts see the rapid inclusion of “digital assets” in the list of relevant asset classes as extremely positive. Anyone who invests according to the CAPM should now also buy Bitcoin.
Another method for portfolio allocation is to weight the individual asset class so that each asset class takes on the same risk in the portfolio. Since Bitcoin fluctuates more than bonds, the weighting of Bitcoin is lower. The authors therefore arrive at a Bitcoin share of 1.4% in this portfolio.
Conclusion
Due to its correlation with other asset classes (stocks), Bitcoin as part of a portfolio only reduces the overall risk to a limited extent. But Bitcoin changes its composition by being included in the portfolio and thus also changes the risk distribution, which can be attractive for investors.
For me, however, the core message in the paper is that Bitcoin (cryptocurrencies) is now too big to ignore.
Personal conclusion
Due to increasing market capitalization, increasing liquidity (also through spot ETFs) and slightly decreasing volatility, Bitcoin is gradually becoming more interesting for institutional investors. The further the volatility (=risk) decreases in the future, the larger the share of Bitcoin in the portfolio will become.
If DWS publishes such a paper, more will follow...Source
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‼️ Reminder
The 🇺🇸stock market is closed on Friday which means tomorrow is the last trading day of Q1
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#BTC_Update
BTC CONSOLIDATING $61000-73800
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The court’s latest ruling rejected Coinbase’s motion, stating: the SEC has sufficiently pleased that Coinbase operates as an exchange, as a broker, and as a clearingagency under the federal securities laws, and, through its Staking Program, engages in the unregistered offer and sale of securities. — link
The Court further findsthat the SEC has sufficiently pleaded control person liability for CGl under theExchange Act. The Court GRANTS Defendants' motion, however, with respectto the SEC's claims regarding Wallet.
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For the past 2 straight sessions, Microstrategy $MSTR has achieved its highest daily close of the cycle.
Today could be the 3rd, and the stock is already up +6% at the open.
Unbelievably strong trend, even in log scale.
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$FET, $AGIX & $OCEAN are considering merging their tokens into an 'ASI' token with an FDV $7.5b.
We may have a new AI powerhouse in the arena..
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💰 $2,000 gap between $64.5k and $66.5k on the CME #Bitcoin chart is waiting to be filled.
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