Bitcoin currently sees around $46.4 billion in on-chain volume daily, comparable to traditional payment processors like Visa and Mastercard. Filtered economical transfer volumes are closer to $6.5 billion per day.
Читать полностью…Trump says he wants US in charge of crypto before China, teases another NFT launch
Читать полностью…#ALTS MARKET CAP ANALYSIS
The ALTS market cap is experiencing a significant rebound from the support trendline of the descending channel, signaling potential bullish momentum. This rebound is currently facing resistance from the Ichimoku cloud, which is acting as a barrier.
However, the 200-day Moving Average is providing strong support, further indicating a bullish trend.
A decisive breakout above both the Ichimoku cloud and the descending channel would likely trigger a robust bullish rally in the ALTS market, suggesting substantial upward movement and positive investor sentiment.
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Читать полностью…#AEVO/USDT ANALYSIS
AEVO has broken out of the descending channel with good volume and is currently trading above the channel. The 21MA is acting as support below the current price action.
We need to wait for a successful retest, as a successful retest would serve as bullish confirmation.
#BTC/USDT ANALYSIS
Bitcoin has perfectly bounced from the support trendline of the ascending triangle. Currently, it is testing the horizontal resistance zone of the triangle. The 200MA is acting as resistance above the current price action, while the Ichimoku cloud is showing bullish momentum.
A solid breakout above the 200MA and the ascending triangle would indicate further bullishness for BTC. On the other hand, the price may be rejected at this level, leading to further consolidation within the pattern.
The Bitcoin market experienced around 18 months of steady price appreciation after the collapse of FTX, followed by three months of range-bound price action after the $73k ETF high.
Between May and July, the market experienced its deepest cycle correction, recording a drawdown exceeding -26% from the ATH.
#BTC/USDT ANALYSIS
Bitcoin has broken out of its descending broadening wedge pattern with significant volume. Currently, it is trading above the Ichimoku cloud, indicating strong bullish momentum.
However, the 200-day moving average is acting as a resistance barrier. A breakout above the 200MA would signal further bullish momentum for BTC.
#S&P 500 ANALYSIS
The S&P 500 has recently broken out of a cup and handle pattern and is currently trending upward. Additionally, the 21-day moving average is acting as support, indicating a bullish trend.
We can anticipate a retest above the breakout level, although a downward movement is expected due to a CME gap above this breakout level. Even if the price does not move downward, we can see further upward movement in the S&P 500.
Since the launch of the Runes protocol on April 20, 2024, we've observed a significant surge in transactions, largely displacing BRC-20 tokens, Ordinals, and Inscriptions. As of current, Runes-related TXs account for an impressive 66% of total daily TXs.
Читать полностью…#USDT DOMINANCE ANALYSIS
USDT.D has broken out of the ascending triangle with significant volume and is currently going for a retest. A successful retest will confirm a bullish trend for USDT.D.
The 100-day moving average is acting as support, indicating momentum. However, if the retest fails, further consolidation within the triangle can be expected.
It's essential to note that an upward movement in USDT.D is typically considered a bearish signal for the cryptocurrency market due to their inverse relationship.
#OMNI/USDT ANALYSIS
OMNI is trading within a descending channel and is currently rebounding from the support trendline. The Ichimoku cloud acts as resistance below the channel's resistance trendline.
A breakout above the Ichimoku cloud and the channel's resistance trendline would signal a bullish trend. Conversely, if OMNI breaks below the channel's support, we could see a downward movement.
#US DOLLAR ANALYSIS
The US dollar has recently broken down from a symmetrical triangle pattern, indicating a bearish trend. This follows a period of consolidation within the triangle. Technical indicators like the Ichimoku cloud and the 100-day moving average are acting as resistance levels. These resistance points underscore the bearish momentum currently affecting the US dollar.
It's important to consider the inverse relationship between the US dollar and the cryptocurrency market. As the US dollar weakens, cryptocurrencies often experience upward movement, indicating potential gains for digital assets in the near future.
#FET/USDT ANALYSIS
FET is bouncing from the horizontal demand zone of the descending triangle. The 200MA is acting as support, indicating bullish momentum, while the 50MA is acting as resistance above the triangle's resistance trendline. We need to wait for a successful breakout or breakdown to confirm FET's next move.
Bitcoin spot ETFs had a total net inflow of $423 million on July 16, continuing net inflows for 8 consecutive days. BlackRock ETF IBIT had a single-day inflow of $260 million, and Fidelity ETF FBTC had a single-day inflow of $61.053 million.
Читать полностью…#BTC/USDT ANALYSIS
Bitcoin has broken out of the cup and handle pattern with strong volume. It is currently trading above the pattern's neckline, with the 200-day moving average providing support below the handle, indicating bullish momentum. A successful retest of the breakout point would further confirm the bullish outlook for BTC.
BREAKING: stripe HAS EXPANDED ITS CRYPTOCURRENCY INTEGRATION INTO THE E.U. - ALLOWING USERS TO BUY $BTC, $SOL, $ETH AND OTHER COINS USING THEIR CREDIT OR DEBIT CARDS
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Читать полностью…In his 2021 financial disclosure while running for Senate, Trump's VP pick, J.D. Vance, reported owning between $100,000-$250,000 worth of #Bitcoin
Читать полностью…#BTC DOMINANCE ANALYSIS
BTC.D is consolidating within a symmetrical triangle chart pattern, with the Ichimoku cloud serving as a resistance above the current price action of the BTC.D. The RSI indicates a neutral stance.
Further movement is anticipated within the triangle until a decisive breakout or breakdown occurs. It's noteworthy that BTC.D typically exhibits an inverse relationship with the Alts market cap.
#XRP/USDT ANALYSIS
XRP is showing a strong rebound from the support trendline of the symmetrical triangle. A breakout from the triangle would indicate a bullish trend.
However, the Ichimoku cloud is acting as resistance above the triangle's resistance trendline. The price may also face rejection from the resistance trendline of the triangle. Keep an eye on this development.
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#PEOPLE/USDT ANALYSIS
PEOPLE is consolidating within a descending broadening wedge pattern. A breakout from the wedge would serve as bullish confirmation.
The Ichimoku Cloud, showing bearish momentum, is acting as resistance above the wedge.
The price may also drop from the resistance trendline of the wedge. Keep an eye on further price developments.
#BTC/USDT ANALYSIS
Bitcoin is rebounding perfectly from the support trendline of the ascending triangle. It has broken the horizontal resistance zone of the triangle with strong volume.
The Ichimoku Cloud is also indicating bullish momentum. A retest above the triangle pattern is expected. A successful retest would provide strong bullish confirmation for the market.
#BTC/USDT ANALYSIS
Bitcoin is currently trading within a descending triangle pattern and is rising from a horizontal demand zone. The 21 day moving average is acting as resistance within the descending trendline.
A breakout above the 21MA and the descending trendline would confirm a bullish trend. Conversely, a breakdown below the horizontal demand zone would indicate further market correction.
NEW: 🇺🇸 US #Bitcoin ETFs saw $79 million in inflows yesterday, the 5th straight day.
While Germany sells, US ETF buys 🙌