thebull_crypto | Cryptocurrency

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NO BULL NO GAIN! Market analysis & recaps, scalping leverage calls, binance altcoin signals and real time news. Disclaimer: My channel is not financial advise, its my observation and opinion. Twitter: twitter.com/thebull_crypto

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The Bull

Binance, SEC strike deal to move all U.S. customer funds, wallet keys back onshore

https://www.coindesk.com/policy/2023/06/17/binance-sec-strike-deal-to-move-all-us-customer-funds-wallet-keys-back-onshore/

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The Bull

#Bitcoin found its support around $25,000 level.

We need to watch for the next move while the market becomes increasingly difficult and trading volume is very low.

Especially there are a lot of FUDs still going on the crypto market, I don't think this is the right time to make trades.

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The Bull

The week of volatility!

Tuesday:
• US CPI Data
• Hinman Docs Become Public
• SEC's Coinbase Rulemaking Response
• Binance US Hearing

Wednesday:
• US PPI Data
• FOMC Meeting

Thursday:
• US Jobless Claims
• US Retail Sales Data

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The Bull

Binance Will Support the TrueUSD (TUSD) Contract Swap

https://www.binance.com/en/support/articles/52b29fadf71542afabf23acf3454f9c7

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The Bull

The DEX volume as a percentage of all trading volume is nearing the highs of peak in late 2021/early 2022

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The Bull

Supply of Tether USDT reaches all-time high, surpassing previous record of $83.2 billion, set in May 2022

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The Bull

#Bitcoin fails to break out of the falling wedge.

Expecting a wick down to 26,5k level.

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The Bull

The Ethereum exchange balance has dropped to a five-year low

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The Bull

Beijing releases white paper for web3 innovation and development

https://www.theblock.co/post/232404/beijing-web3-white-paper

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The Bull

Bitcoin's correlation coefficient with Nasdaq lowest since November 2021, with tech shares rising while Bitcoin idles

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The Bull

In March, both centralized and decentralized exchanges saw an increase in crypto derivatives volume for the third consecutive month.

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The Bull

Binance's dominance in spot crypto trading wanes as market share hits 46%, the lowest since Oct '22. Despite this, Binance remains the largest exchange by volume

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The Bull

#Bitcoin has touched the mentioned area but we could see another leg down to touch ~25k in short term.

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The Bull

#Bitcoin bear looks.

Possible a leg down to touch 25k ~ 26k area so I would wait before taking action.

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The Bull

USDT has been consistently trading at a premium on CEX since March, and is the only stablecoin that has regained its pre-Terra collapse market cap.

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The Bull

The U.S. regulatory crackdown and banking crisis has also made USD-denominated crypto transactions a lot harder.

Since March, there is a drop in dollar market share relative to the euro. Euro market share is now 18%, up from just 9% at the start of the year relative to the USD

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The Bull

Bitcoin Long-Term Holders are remarkably calm, displaying no discernible reaction to the news related to the hostile US regulatory environment. Their exchange inflow volume this week was just 0.004% of their total holdings, with 66% of all trading days seeing larger relative inflows

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The Bull

BinanceUS is suspending USD deposits and notifying customers that its banking partners are preparing to pause fiat (USD) withdrawal channels as early as June 13, 2023. BinanceUS will maintain 1:1 reserves for all customer assets. Any downtime in processing withdrawals may be the result of elevated volumes and weekend bank closures.

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The Bull

BNB and ETH were the only deflationary tokens during Q1’23 at -5.4% and -0.2%, respectively

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The Bull

Stablecoins trading volume fell 40.6% to $460bn in May, recording the lowest monthly trading volume by stablecoins on CEX since December 2022. This drop comes with major crypto assets staying range-bound

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The Bull

$ACH will pump soon IMO

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The Bull

A cumulative amount of nearly ~$3.45B has been stolen from crypto exchange custody from 48 recorded hacks since 2012. The most frequent way assets were stolen from exchanges was through hot-wallet hacks

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The Bull

#Bitcoin: Falling wedge in formation.

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The Bull

Trading volumes across crypto exchanges are at their lowest levels since 2020

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The Bull

On May 22, 2010, #Bitcoin was used to purchase #pizza, a first-such use case for crypto.

Happy Bitcoin Pizza Day!

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The Bull

The cost basis for #Bitcoin Short-Term Holders is hovering around $25.2k, representing break-even for recent buyers.

A successful retest of MVRV = 1.0 was achieved in the March correction, typical of uptrending markets.

Will #Bitcoin reach $25.2k, and find support this round?

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The Bull

Bitcoin's rolling 30-day correlation with Ethereum fell below 80% this week for the first time since November 2021

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The Bull

ETH locked hit an all-time recently at 19,731,568 ETH

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The Bull

#Bitcoin is experiencing extremely high demand for blockspace, driven by BRC-20 tokens, utilizing text based inscriptions, and ordinals

This is a revenue boost for Miners, as the average fee paid per block has reached 2.905 $BTC, near past bull peaks.

A few recent blocks have seen tremendous total fees paid of 5.87 $BTC, approaching 94% of the 6.25 $BTC block subsidy.

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The Bull

Transaction fees on the Bitcoin network yesterday reached their highest point in 2 years, both by mean sats/vbyte per transaction in daily cumulative fees paid. Half of all transactions yesterday related to BRC-20 transactions.

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