The transfer of wealth from mature investors to new demand is in effect, with the proportion of wealth held by 'Young coins' (moved within the last 3-months), increasing by 138% since October 2023.
This reflects a net expenditure by longer-term investors who had previously held their coins for at least 3-months.
#BTC/USDT ANALYSIS
BTC is moving within an ascending channel. Currently, it is holding above the support trendline and the 100-day moving average (MA). The Ichimoku cloud is also acting as support. A bounce could be expected from this point, while a solid breakdown of the channel would confirm bearish sentiment.
#TOTAL MARKET CAP ANALYSIS
The total market cap continued its pump after the breakout of the ascending triangle. MACD crossover is indicating bullish momentum.
We can expect the continuation of the bullish move, with the next target being the marked all-time high zone. However, small retracements could occur along the way.
#BTC/USDT ANALYSIS
BTC pumped following the successful retest of the ascending triangle. The 21-day moving average (MA) and the Ichimoku cloud indicate a bullish trend. A continuation of the bullish momentum is anticipated either from this point onward or after another retest of the triangle.
#ARB/USDT ANALYSIS
ARB has retested successfully above the symmetrical triangle. The Ichimoku cloud is acting as support, while the 100-day moving average (MA 100) indicates a bullish trend. Additionally, the MACD crossover is poised to turn bullish. Consequently, a continuation of the bullish move is anticipated.
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#BTC/USDT ANALYSIS
BTC continues its bullish move after breaking out of the ascending triangle. The golden crossover has just begun. The MACD crossover indicates bullish momentum, and we can expect this momentum to continue as long as it trades above the triangle.
#S&P 500 ANALYSIS
The S&P 500 has sustained its bullish momentum following the breakout of both the trendline and the horizontal resistance. This resilience underscores its strength and momentum, suggesting a potential continuation of the upward trend.
Such positivity in the S&P 500 often bodes well for the crypto market, given their historical correlation. This alignment further reinforces the optimistic outlook for both markets moving forward.
#US DOLLAR ANALYSIS
The US dollar is currently moving within a symmetrical triangle pattern. It is trading below both the Ichimoku Cloud and the MA 100. The RSI is situated in the neutral zone.
It's imperative to monitor closely for a definitive breakout or breakdown of the triangle to confirm the next direction. It's worth noting that the US dollar often exhibits an inverse correlation with the crypto market.
#WLD/USDT ANALYSIS
WLD is currently holding above the horizontal support after being rejected from the descending trendline. It is trading inside the Ichimoku cloud, which is showing indecision.
A bounce from here and breakout of the trendline would be the bullish confirmation, while a sustained breakdown of the horizontal support would be a sign of a retest of the descending triangle.
#DOGE/USDT ANALYSIS
DOGE has broken out of the symmetrical triangle pattern with decent volume. The Ichimoku cloud indicates a bullish trend, and the MACD crossover suggests bullish momentum. A continuation of the bullish move is anticipated either from this point or after a successful retest of the triangle.
#ALTS MARKET CAP ANALYSIS
The ALTS market cap has sustained its bullish momentum following the breakout of the ascending triangle, reaching the designated high.
Confirmation of the bullish trend continuation would occur with a candle close above the indicated resistance level, while rejection would signal a potential correction in alts.
#BTC/USDT ANALYSIS
BTC has successfully retested above the ascending triangle. The Ichimoku cloud indicates a bullish trend, and the MACD crossover is poised to turn bullish. A continuation of the bullish move is anticipated from this point or after another test of the triangle.
#BTC DOMINANCE ANALYSIS
BTC.D is moving in an ascending triangle pattern. Currently, it is trading above the Ichimoku cloud. The MACD crossover is showing neutral signs.
If BTC.D pumps while BTC drops or moves sideways, that would be a sign of correction in Alts. If BTC.D drops while BTC moves sideways or pumps, we will see a continuation of the bullish rally in Alts.
#XRP/USDT ANALYSIS
XRP has pumped more than 20% following the breakout of the symmetrical triangle. The Ichimoku cloud indicates a bullish trend, and the MACD crossover suggests bullish momentum. A continuation of the bullish rally is anticipated as long as it maintains trading above the triangle.
#ADA/USDT ANALYSIS
ADA has broken out of the horizontal resistance and the MA 200 with a successful retest above it. The Ichimoku cloud indicates a bullish trend, while the MACD crossover signals bullish momentum. A continuation of the bullish move is expected for as long as it trades above the MA 200.