JUST IN: BlackRock spot #Bitcoin ETF IBIT did $1.23 BILLION in trading volume today.
Читать полностью…Binance has challenged a nearly $86 million tax penalty notice issued by India’s tax department DGGI for fees collected from Indian customers between July 2017 and March 2024. DGGI is an agency responsible for indirect tax evasion intelligence and is part of the Indian Ministry of Finance.
Читать полностью…#US DOLLAR ANALYSIS
The US dollar has recently broken down from a symmetrical triangle pattern and successfully retested it. Currently, it is moving downward, and the Ichimoku cloud is also showing bearish momentum. We can expect further downward movement.
It's crucial 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.
#MATIC/USDT ANALYSIS
MATIC is consolidating within a descending triangle and is currently trading within a horizontal demand zone. We can expect a potential bounce from this demand zone.
However, the Ichimoku cloud is acting as a resistance, indicating that caution is needed. It's essential to wait for a clear breakout or breakdown to determine the next move.
#BTC/USDT ANALYSIS
Bitcoin is experiencing a rebound from the support trendline and horizontal demand zone following a strong rejection at the resistance trendline of the descending broadening wedge pattern. This price movement suggests that Bitcoin is finding stability above the crucial demand zone and the pattern's support trendline.
The 200-day moving average is currently providing robust support just below this demand zone, bolstering the bullish sentiment. However, the 100-day MA is posing as a resistance level, which could challenge the upward momentum.
Despite this resistance, the overall technical indicators and market conditions suggest the potential for a strong bullish rally in the crypto market, as investors and traders remain optimistic about Bitcoin's capacity to break through these barriers and sustain an upward trajectory.
#TOTAL MARKET CAP ANALYSIS
The total cryptocurrency market cap is experiencing a downward movement following the breakdown of a rising wedge pattern. The Ichimoku cloud is acting as resistance above the price action.
Currently, the market cap is trading above a horizontal demand zone, where we can expect a potential bounce. However, if it breaks down below this demand zone, further correction in the market is likely.
#DYDX/USDT ANALYSIS
DYDX is currently trading within a major horizontal demand zone after a strong rejection from the resistance trendline. The 21-day moving average is acting as resistance.
We can expect a potential bounce from this key demand level. However, if DYDX breaks down below the horizontal demand zone, we could see it reach new lows.
Daily active addresses on Ethereum and leading L2s have increased by 127% this year. This metric measures the number of distinct addresses interacting with the chain, indicating user base growth.
Читать полностью…#XRP/USDT ANALYSIS
XRP is currently consolidating within a symmetrical triangle pattern. It is facing rejection from the trendline of the triangle, with the Ichimoku cloud also acting as a barrier.
We should wait for a decisive breakout or breakdown to confirm XRP's next move.
#BTC/USDT ANALYSIS
Bitcoin is currently facing rejection from the resistance trendline of its channel and is trading within the Ichimoku cloud. We might anticipate a bounce from this level. However, if Bitcoin breaks below the Ichimoku cloud, further market correction could occur.
Long-term investors currently hold 45% of the network wealth, which is relatively elevated compared to near macro cycle topping events.
This underscores that LTHs hold the coins in HODL mode and are arguably patiently waiting for higher prices to divest into market strength.
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#S&P 500 ANALYSIS
The S&P 500 recently experienced a breakout from a classic cup and handle pattern, which is typically considered a bullish continuation signal.
As the index approaches a retest of this formation, it has also filled the CME gap. Currently, the 21MA is providing additional support just below the pattern's neckline.
A successful retest of the neckline could validate the breakout, triggering a strong bullish rally and indicating further upward momentum in the index.
This scenario could lead to increased buying interest and trading volume as investors look to capitalize on the continuation of the upward trend.
#USDT DOMINANCE ANALYSIS
USDT.D is trading within a symmetrical triangle on the weekly timeframe. It is currently facing rejection from both the Ichimoku cloud and the triangle's resistance trendline. The Ichimoku cloud acts as a resistance barrier above the price action, indicating bearish momentum.
A breakdown of the pattern would signal a bearish trend. It's important to note that USDT.D typically moves inversely to the broader crypto market.
#NOT/USDT ANALYSIS
NOT is currently rebounding from the horizontal demand zone within a descending triangle pattern.
The Ichimoku cloud is serving as a resistance above the descending trendline. We should wait for a decisive breakout or breakdown to confirm NOT's next move.
#BTC/USDT ANALYSIS
Bitcoin remains within a descending broadening wedge pattern after sweeping liquidity below it. Currently, it is rebounding off the support trendline.
The 200 MA and the Ichimoku Cloud are both serving as resistance above the current price action. A solid breakout from the pattern is anticipated soon, which could lead Bitcoin to reach a new high.
Binance Spot and Margin to Postpone Trading System Upgrade (2024-08-06)
https://www.binance.com/en/support/announcement/e6ba732915584ef494a735d66f1eacd5
In the past 24 hours , 2,13,305 traders were liquidated , the total liquidations comes in at $827.23 million
Читать полностью…#Bitcoin miner hashrate is rebounding, reaching 604 EH/s, a 6% increase since July 9.
$BTC hashrate is now less than 2% from all-time highs.
#BTC/USDT ANALYSIS
Following the breakdown of the rising wedge pattern, the price has experienced a downward movement and is currently trading below the Ichimoku Cloud, indicating a potential for further decline.
The presence of a CME gap between the 60,845 and 58,790 levels suggests that the market may seek to fill these gaps before establishing a new direction.
Historically, once such gaps are filled, the market often experiences a reversal, which in this case could lead to a strong bullish rally.
#QNT/USDT ANALYSIS
QNT is rebounding from the support trendline of a descending channel and is currently trading in the middle of the channel.
The 50-day moving average is acting as resistance above the channel. A decisive breakout from the channel would indicate a potential bullish trend.
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#BTC DOMINANCE ANALYSIS
BTC.D is consolidating within a rising wedge pattern, with the Ichimoku cloud providing support below the current price action. We should wait for a confirmed breakout or breakdown to determine the next move.
A breakout from the wedge could indicate further declines in altcoins. Conversely, if BTC.D breaks down from the wedge and successfully retests it, we can anticipate a bullish rally in the altcoin market.
Morgan Stanley tells wealth advisors they can pitch Bitcoin ETFs in a first for major Wall Street firms
Читать полностью…#IOTX/USDT ANALYSIS
IOTX is consolidating within a descending channel and is currently facing rejection from the channel's resistance trendline. The 200-day moving average is also acting as a resistance barrier. We should wait for a confirmed breakout or breakdown to determine the next move for IOTX.
#BTC/USDT ANALYSIS
Bitcoin is rebounding from the horizontal demand zone, where the 200 MA is providing support. Currently, the Ichimoku cloud is acting as resistance, indicating bearish momentum.
A breakout above the Ichimoku cloud barrier could lead to further upward movement, while a breakdown below the horizontal demand zone and 200 MA would signal a bearish trend.
#BingX will list $JWIF on 7th August, 14:00 UTC: https://x.com/BingXOfficial/status/1818972344729362851
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