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Recent loss-taking events account for less than 36% of total Bitcoin network capital flows, compared to over 60% during major capitulations like Sep 2019, March 2020, and May 2021. This suggests similarity to Q1-2021 topping formation rather than severe capitulation. Demand must increase to prevent further deterioration of investor profitability
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#BITCOIN WEEKLY TF UPDATE :
#BITCOIN on Weekly TF, close above the zone and made a deep retest and rejecting it strongly. Price need to close above and with that, its will a good rejection.
Here's the Analysis of #RENDER :
#RENDER recently got its listing in Binance and nothing much for the analysis. Price moving within a consoldiation range and within the listing price too. Nothing can be done here. A retest can be done here, to the bottom until wait for the clear breakout.
When STH losses are calculated as a percentage of total invested wealth (divided by STH Realized Cap), the picture changes. Relative losses for this group are typical compared to previous bull market corrections. The chart highlights periods where both percent of STH Supply in Loss and magnitude of losses exceed 1 standard deviation from the mean.
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#BITCOIN DAILY TF UPDATE :
#BITCOIN on Daily TF, maintained its bullish market structure and again attempting to made a Higher High. Price already facing the structural resistance. So keep an eye on closing, and wait for Monday Market Open.
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Zooming into Short-Term Holder losses specifically, we can see a total realized loss of ~ $595m was locked in by this cohort this week. This is the largest loss taking event since the 2022 cycle low.
Furthermore, only 52 out of 5655 trading days (< 1%) have recorded a larger daily loss value, highlighting the severity of this correction in dollar terms.
#BTC maintained the last resort and made a strong rejection from the support area. Price again above the strong support zone, and H4 shifted the direction. Market looks bullish, so we can expected a new Higher High soon next week.
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What Is a Sidechain?
A sidechain is linked to the main blockchain, known as the mainnet or parent chain, using a two-way peg.
Sidechains were created to solve the critical issue of speed faced by the crypto world. Instead of having all processes on the main blockchain, a sidechain is used to simplify calculations while offering the same security as the main blockchain.
Sidechains can interact in different ways. However, at the core is the ability to exchange assets between chains with the help of a two-way peg. This peg comprises lockboxes on both chains. To understand how a lockbox works, imagine you are moving 1 BTC from the main network to a sidechain. First, you send the BTC to a lockbox address. Any BTC sent here is taken out of the total supply temporarily. Information regarding the sidechain address where you will send the BTC is included during the transaction. Once the transaction is complete, the sidechain lockbox will release 1 BTC and send it to an address on the main network.
How Do Sidechains Work?
The main chain user first needs to send coins or other digital assets to an output address where they are locked and unspendable anywhere else. After the transaction is complete, a confirmation is relayed across the chains. This is followed by a waiting period for added security. Afterward, the coins or assets will be fully transferred on the sidechain, enabling users to move them around freely on the new network.
Sidechains come in many variations depending on the functions they are built for. While both Liquid and Rootstock are Bitcoin sidechains, they function very differently since the latter is specifically created for the purpose of running smart contracts more efficiently.
Examples of Sidechains
Liquid Network
An example of a sidechain is the Liquid Network, a protocol built on top of the Bitcoin network. The block discovery period on this sidechain is just one minute, which is ten times faster than the main Bitcoin network.
Polygon
Polygon is an Ethereum sidechain designed to bring scaling solutions to public blockchains. It provides scalability while ensuring users have a better experience without compromising security. While it currently supports Ethereum, there are plans to support other blockchains to ensure blockchain interoperability and scalability.
#ALGO failed to break the resistance and dropped hard, which broke the channel pattern. No point for buys here, it good for price to reach the support area.
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Here's the Analysis of #MANTA :
#MANTA just going lower low nothing on the left moving above the listing price. Price potentially forming a Head & Shoulder Pattern, which might move the price up. Currently, price sitting on the same level and with a supporting trendline confluence. Risky buys here, can take smaller position and wait for the flip of the resistance.
#SEI looks like its trying to break of the channel pattern and still holding the bullish market structure. Not a good reason for going into shorts, the final support is at $0.34, which is also a flip area.
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Here's the Analysis of #TRU :
#TRU is been rejected off from the major resistance area and hodling the trendline though. Price action is very messy at the point, nothing clear all. Take a look in other alts and in the meantime alert on range High and lows.
#GOLD UPDATE :
#GOLD made its All-Time High and Dropped hard too. Currently, price gave a break below of the support zone with a closure and expected to move a lower (a tiny bit). The major support zone is at $2360 which will be a good opportunity for buys.
#DXY UPDATE :
#DXY broke and retest the zone as support but didn't moved either side. Market did played with the sentiment as moved back & forth with the key level. Next weekend will decide the market movement.
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#MATIC barely moved anywhere apart and played around the resistance area Back and Forth. Price still below the resistance showing weakness, so any open position should be close and wait for the confirmation.
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#ETH just rejected strongly, and made a drop lower below the support. Currently, price retesting the area as resistance as this dump was due to Grayscale sold off the #ETH. Nothing looks good here, wait for the Daily candle closure over the zone or a rejection.
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What Is a Simple Agreement for Future Token (SAFT)?
A SAFT is an investment contract that guarantees an eventual transfer of ownership of crypto tokens from developers to investors. Through the use of the SAFT, which is regulated financial security, finances can be arranged before the token’s launch while giving future ownership rights to SAFT holders. Included within the contract is the precise contribution of the investor, as well as the amount of discounted tokens that would be made available to them. In addition, the contract would also explicitly state the future date upon which the transfer of cryptocurrencies will be executed.
SAFTs are often mistaken for initial coin offerings (ICOs), which is a more mainstream form of token financing. However, unlike ICOs, SAFTs are directed primarily to accredited investors instead of public users on a launchpad. As a result of this setup, the general public is restricted from having access to the security, and SAFT holders would need to meet specific criteria in terms of income, experience, net worth, etc. This points toward the exclusivity that is intrinsic to these agreements and how they essentially guarantee ownership rights to their holders. This setup allows financial institutions such as investment banks or hedge funds to participate in token financing without having to worry about regulatory concerns. On the other hand, cryptocurrency developers, through SAFTs, have the benefit of accessing financing mechanisms that are linked to mainstream financial channels. The way SAFT is structured, it could ideally be implemented to jumpstart development on a cryptocurrency before its ICO is initiated after it is shown to have potential.
Similarly, SAFTs hold core distinctions to cryptocurrencies themselves because they are regulated. Tokens are technically not classified as securities, given that their existence on the blockchain overrides governmental jurisdiction. SAFTs are entirely in compliance with the regulatory and legal framework of the particular jurisdiction, as it is a security tradeable within the mainstream financial system. With its unique characteristics, SAFT bridges the world of blockchain to that of mainstream financial institutions and thus occupies a unique space in the broader dimension of tokenomics.
However, it is important to point out that SAFT is a conventional contractual agreement and, therefore, not a blockchain-embedded smart contract. As a result, it does not hold the core characteristics of self-execution or immutability. However, despite these gaps, SAFTs can be enforced in a court of law, given that it falls within legal and regulatory jurisdiction.
#FTM broke the flag, retested it and dropped good and out previous trade also performed well. Trade moved around 12-13% in favor. It time to book some. Price can form a double bottom formation and might continue to move up.
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Here's the Analysis of #ENA :
#ENA nearly to its listing price and forming channel pattern, which is a bearish continuation. The breakout might push the price lower towards it very initial listing. So eyes on breakout and try to risk lower.
The market conditions seen in Q2-Q3 2021, a much more significant Short-Term Holders experienced a much more significant duration of 70 consecutive days in acute financial stress. That period of time was severe enough to break investor sentiment, and gave way to the destructive 2022 bear market. By comparison, this cycle has been relatively forging for the time being.
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#BTC made an another drop, and reaching the market structure point. That's the last resort for On Daily TF. a Successful break and close below will lead the bearishness in market.
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Short-Term Holder supply grew significantly from January 2024, coinciding with spot ETF launch and price surge. Recent months show plateaued demand growth, indicating Q2-2024 supply-demand equilibrium. Now, a supply surplus exists as Long-Term Holders hold positions and new buyers decrease.
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#BTC dropped inside the support zone finally and kinda reacting now. H4 Market Structure is kinda Bearish now, and can potentially move to the upside though. Anyway daily candle must sustain above the zone.
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Price performance relative to each cycle low, the 2023-24 market has behaved eerily similar to the last two cycles (2018-21 and 2015-17). The reason for Bitcoin following such a similar path is a regular topic of debate, but it continues to provide a valuable framework for analysts to think about cycle structure and duration.
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#BTC just moving with a consolidation and now dipping due to #Mt Gox moving #Bitcoins for repayment. There will be stability in coming days or a dip in the market due to this. Price now expected to retest towards the $66,000 level and anticipate the up-move.
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