🚨 Volatility Alert
Lots of important economic data coming out next week, last of it before the election, GDP, PCE inflation, Jobs report, it's going to be a wild week 🎯
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Pennsylvania just passed a ‘#Bitcoin Rights’ bill with strong bipartisan support in the House. Both Republicans and Democrats backed it.
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Bitcoin: Exchange Whale Ratio shows the highest value since Nov 2022
On-chain data shows the highest Exchange Whale Ratio of Bitcoin since November 2022. The ratio shows the top 10 inflows to the total inflows of the exchange. It can indicate an increase in selling pressure at this price by whales
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🇺🇸U.S SERVICES PMI (OCT) ACTUAL: 55.3 VS 55.2 PREVIOUS; EST 55.0
🇺🇸U.S MANUFACTURING PMI (OCT) ACTUAL: 47.8 VS 47.3 PREVIOUS; EST 47.5
🇺🇸U.S S&P GLOBAL COMPOSITE PMI (OCT) ACTUAL: 54.3 VS 54.0 PREVIOUS
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Kraken plans to launch a blockchain early next year for decentralized applications that allow for trading, borrowing and lending of tokens without intermediaries. Called Ink, the new digital ledger will use similar technology to Coinbase Global Inc.’s Base. — link
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GERMAN EXPERTS LOWER TAX REVENUE FORECASTS
Germany's council of tax experts expects 58.1 billion euros ($62.72 billion) less in total tax revenue in the 2024-2028 period compared with its May forecast, projections on Thursday showed.
For the federal government alone it expects 12.6 billion euros less in tax revenues in the five-year period, according to the updated estimates.
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#Liquidations 🔥
🔴In the past 24 hours , 89 637 traders were liquidated , the total liquidations comes in at $272.74 million
🔴The largest single liquidation order happened on OKX - BTC-USDT-SWAP value $9.63M
⚠️ Never invest more than what you can afford to lose.
⚠️ Don't try to make quick money.
⚠️ High Leverage does not give you more money
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150 BTC, which had not been moved since 2011, were moved at 13:14. 100 BTC were sent to the Bitstamp exchange. On the last move date, the Bitcoin price was $ 16; it is currently $ 66,000.
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🚨 Volatility Alert
Macro Releases - Thursday, October 24 🗓
Time: 8.30 am ET.⏳
🇺🇸Initial Jobless Claims
🇺🇸Building Permits (Sep)
Time: 9.45-10.00 am ET.⏳
🇺🇸US Manufacturing PMI (Oct)
🇺🇸New Home Sales (Sep)
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The average #Bitcoin cycle:
Starts 170 days after halving
Peaks 480 days after halving
We are currently 187 days after the $BTC halving
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Good morning,
Yesterday's Bitcoin ETF flows were positive for $192.4 million.
Blackrock had $317.5 million of inflows.
Ark had $99 million of outflows again and Bitwise $25.2 million.
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Trump's Odds Drop To 59% After Major Polymarket Whale Bets On Harris
Trump's odds of winning the election temporarily dropped on Polymarket after a top holder of "yes" shares in Trump's victory, known as Theo4, placed bets against Trump and on Harris.
Theo4, who holds 12 million Trump "yes" shares, briefly bought "no" shares for Trump and "yes" shares for Harris before returning to buying Trump shares.
This caused Trump's odds to slip from 65% to as low as 59%, though they later rebounded.
Source: Coindesk
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#Bitcoin is up 49% on the year and it's felt like a bear market to a lot of people. The $SPX is up 23% and it's set records as a historic bull run of the 21st century.
#Bitcoin is up 10% in October. The $SPX is up 2%.
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#CryptoMichNL
The #Altcoin market capitalization is ready to burst.
One final breakout and the all-time high is next.
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#The_Golden_Ratio
As of now, I’m looking closely to the SOL vs ETH chart as a break above this resistance trend line will result in huge outperforming action from solana to ethereum.
Solana will go parabolic this time and will be the super hero this cycle.
Ethereum is legacy but Solana is the real use case
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#TheMoonCarl
Big move is incoming! #Solana seems to be breaking out of this descending channel aka Cup&Handle pattern! This could send #Sol to the moon! 🌙 🚀
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Whales' holdings are at an all-time high.
Whales currently hold around 670,000 BTC, which is the highest value ever. Undoubtedly, this is an optimistic long-term sign. As you can see from the chart, when whales' holdings are at a high positive value, Bitcoin tends to be in a sideways trend or locally moderately fall in price.
This accumulation phase can be characterized as calm before the storm in the medium and long term. The real surge in Bitcoin growth begins after whales gradually reduce their holdings until they reach negative percentage change values.
Finally, if the all-time price high between the US presidential elections and November 28 (+/- 21 days) is not updated, this will indicate severe problems with the current bull cycle, and things will get ugly.
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The #Bitcoin weekly timeframe looks like we are about to explode!
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#IamCryptoWolf
$ETH investors are understandably in disbelief due to its recent underperformance.
However, the chart still appears bullish; we could interpret it as forming an iHS or an asc. triangle.
ETH's time is coming.
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Kraken crypto exchange to launch its own blockchain in 2025.
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Widening U.S. fiscal deficit a growing worry, says Scope Ratings
A widening U.S. fiscal deficit is a growing concern and the threat of recurrent debt-ceiling standoffs and associated risk of a near or technical default remains a key factor behind the negative outlook for the country's credit rating, Scope Ratings said.
Europe-based rating firm Scope rates the United States AA with a negative outlook. It next reviews the rating on November 22, just over two weeks after a tight presidential election.
In the note, seen by Reuters on Thursday, Scope said unless the party of the winning candidate secures majorities in both the House of Representatives and the Senate, the United States is headed for another debt-ceiling crisis in early 2025.
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#MikybullCrypto
#Altcoins
The breakout is done and currently on retest.
The next level will be a new ath
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#Bitcoin keeps on setting new Hash Rate ATHs!
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On October 23, Ethereum spot ETFs had a net inflow of $1.2663 million.
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Tesla $TSLA is up +6% after its earnings.
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102 BTC (7 to 10-year-old) on the move!
Large, dormant transactions like this can influence the price negatively.
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Total spot #Bitcoin ETF volume is approaching $1.5B in the last 24 hours.
BlackRock's $IBIT accounts for $813M of it.
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$BTC cleared loads of the high leverage longs today. I think we are done for today.
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#The_Golden_Ratio
#BTC_Update 4H
Price is breaking down below the $66.8k level which was a strong support and the prior resistance turning to support at the validation point.
However, I see this current drop is because of the lack of volume which is likely to be very temporary. The lack of volume like this has been in the play since the beginning of the month. People are still waiting for more macro event clarity as well (possible US rate cut and US presidential election result).
In the bright side, the lack of volume also means that there is minimal number of sell off in the market which the rate of the drop is not as excessive as before. So, I convince that current drop won’t be as dip as previous one.
Next target area to bid more is $64k level as this is the wick fishing area for the current structure. $70k before the November end is likely. Same bias, same scenario. Only bullish in our side, dip is for buying.
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