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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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🇺🇸 Fund Manager Pine Ridge Advisers discloses spot #Bitcoin ETF holdings worth $205 million in new SEC filing.
That's 23% of their $890 million AUM 🙌
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In exactly 8 days, it is the final deadline day for the Spot #Ethereum ETF.
Most analyses say it has a 50% chance of approval.
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#CryptoYoddha
#BTC_Update 10D
Most of you will not be ready for what comes next. Zoom out
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Robinhood’s European crypto arm launched Solana staking, offering around 5% APY. Robinhood says SOL is one of the most popular coins among its EU customers. Robinhood's U.S. branch removed Solana last June after the SEC accused it of being an unregistered security. — link
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#BTC_Update
liquidation heatmap (24 hour)
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#CryptoMichNL
#Ethereum is at the end stage of the correction.
There's around 10% more to be going down on it, as then we're reaching a higher timeframe support level.
The good times are there in a few weeks time.
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According to SoSoValue, total net inflows into Bitcoin spot ETFs on May 14 were $100.5 million. Grayscale ETF GBTC had a single-day net outflow of $50.9317 million, Ark Invest and 21Shares ETF ARKB had a single-day net inflow of US$133 million, and the total net asset value of the Bitcoin spot ETF was US$50.987 billion.
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BlackRock's $IBIT ETF trails the leading $GBTC by 14,651 #BTC, holding 274,836 #BTC compared to GBTC's 289,487 #BTC.
Meanwhile, the nine new #Bitcoin ETFs together hold around 538K #BTC.
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Price performance since exactly one year ago:
$BTC: +131%
$ETH: +61%
$XRP: +19%
$ADA: +21%
$DOGE: +111%
$MATIC: -22%
$SOL: +605%
This highlights the importance of asset selection.
For example, if you bought MATIC on May 14 2023, you'd be down 22%. If you bought SOL instead, you'd be up 6x.
This cycle isn't like the last.
Being in the right coins/narratives is key.
Opportunity cost can hurt you more than the losses do.
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The Wisconsin Investment Council also holds $64 million in Grayscale GBTC. Bloomberg analyst Eric Balchunas said the fact that these large institutions won't be buying for a year or so is a good sign to expect more to come on board because institutions tend to act en masse.
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Fed Chairman Powell said that the U.S. economy is performing very well and has a very strong labor market. U.S. inflation showed no further progress in the Q1. He is not sure whether inflation will continue. He does not believe that the next step may be to raise interest rates and is more likely to remain at current level.
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💸😃😗😳😔
April PPI inflation RISES to 2.2%, in-line with expectations of 2.2%.
Core PPI inflation was 2.4%, in-line with expectations of 2.4%.
PPI and CPI inflation are up for 3 straight months for the first time since April 2022.
Yet another sign the Fed can't cut rates.
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#rovercrc
#BTC_Update 1W
The next BIG #Bitcoin breakout is imminent...
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#CryptoJelleNL
$ETH is forming a major falling wedge, right into the 200-day ema.
Break out -- and we're looking at a target of >$4000.
Patience is the name of the game.
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New CPI in 50 minutes ...
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Eight TikTok creators have sued the U.S. government on to block the recently passed law that forces China-based owner ByteDance to divest of the social media app or face a ban in the U.S., per CNBC.
The creators argue that the divestiure law violates the First Amendment.
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#JA_Maartun
$BTC Coinbase Premium
Yesterday's intense selling pressure from Coinbase appears to have abated. This could potentially create some short-term upside opportunity.
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The World is Moving Towards a Digital Era
➢ Digital Payment
➢ Digital Education
➢ Digital Marketplace
➢ Digital Art
➢ Digital Documents
➢ Digital Creator
When Digitalization on Blockchain, that's where #Crypto becomes Important.
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#JA_Maartun
Are Miners Capitulation? Hash Ribbons Says Yes 🛠
Hash Ribbons operates under the assumption that such circumstances often coincide with significant price lows for BTC, eventually providing an opportune moment to capitalize on price dips.
Typically, this does not happen immediately after the initial capitulation signal from Hash Ribbons, as the process of miner capitulation takes time; rather, it unfolds in the subsequent days and weeks after miners are done selling.
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BlockTower Capital’s main hedge fund has been hacked and partially stolen by fraudsters, according to Bloomberg. The firm manages $1.7 billion in assets. The hackers have not been arrested. BlockTower was founded in 2017 and has invested in companies such as Dapper Labs, Sky Mavis, Terraform, and others. — link
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Telegram coin is one of the most bullish alts in the market right now and its funding looks like this
If market bounces this gonna rip to double digits
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#BTC_Update Liquidity zones
Above: $63.5K, this is also the region that has rejected price again and again with the 4H 200MA.
Below: $60.4K, this arond is the monthly open and last week's lows.
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#BTC_Update
Bitcoin has always put everyone asleep during the first months after the halving
After the summer the fireworks can start 💥💥💥💥💥
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SUMMARY OF FED CHAIR POWELL'S COMMENTS (5/14/24):
1. "Overall a good picture looking at US economic data"
2. Inflation was notable in Q1 for the lack of further progress
3. Housing inflation has been a bit of a puzzle for the Fed
4. Restrictive policy may take longer than expected to lower inflation
5. Unlikely the Fed's next move will be an interest rate hike
6. "Credibility is everything for central banks"
Tomorrow's CPI inflation data is the next key point.
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According to SEC filings, the U.S. Wisconsin Investment Commission currently holds $99 million in BlackRock’s spot Bitcoin ETF IBIT. This is an agency established in 1951 to manage and invest Wisconsin’s public pension and other trust funds. Wisconsin is the sixteenth largest state in the United States. — link
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#scottmelker
Everyone seemingly wants the Fed to cut rates.
There is a wildly popular theory that a Fed pivot is good for markets.
It is patently FALSE.
After the Fed pivot to rate cuts, the market almost ALWAYS crashes/corrects.
Rate cuts generally precede major dips.
Let's look at history.
1. Yield Curve Inversion Then Normalization (Blue)
2. Fed Pivot (Red)
3. Recession/Bear Market And Bottom (Black)
Maybe this time is different. Maybe not.
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🇬🇧The British Defense Minister admitted that London had granted Kiev permission to launch strikes on Crimea, since it considers the peninsula to be part of Ukraine.
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Significant resistance level in $BTC - $66,200 +- 410,000 BTC were traded at this level
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• Institutional adoption ⬆️
• #Bitcoin illiquid supply ⬆️
• $BTC on exchanges and OTC desks ⬇️
• Retail hype and euphoria ⬇️
And global liquidity is about to go nuts
Best setup in history
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