BTC has broken above another significant level, holding above this range would be very bullish in my opinion. Daily RSI is extremely overbought at 90 suggesting risk, ranging sideways would be healthy from here. It's nice to see higher lows and all dips are getting bought up due to increased demand. If this trend can last for several weeks it will further increase investor confidence. The bitcoin halving is just over a year away now, as we get closer the markets will become more optimistic.
Recently we tested the 200EMA which held, suggesting that the previous resistance has now become support. Markets seem likely to continue slowly grinding up as we consolidate around these levels.
CPI inflation figures are released on Valentine's Day, February 14th which should set the trend for the rest of this quarter. Market sentiment should slowly improve leading up to the next halving which is just over a year away.
CPI inflation figures are released on Valentine's Day, February 14th which should set the trend for the rest of this quarter. Market sentiment should slowly improve leading up to the next halving which is just over a year away.
Bitcoin appears to have been rejected at the 200 week moving average. The total crypto marketcap is struggling to go above 1 trillion.
Today's FOMC decision, tomorrow's Google, Apple & Amazon earnings reports, and the CPI inflation data being released on the 14th are significant days, we expect to see increased volatility over the coming weeks. Looking to find support before we consolidate and move up further.
Today's FOMC decision, tomorrow's Google, Apple & Amazon earnings reports, and the CPI inflation data being released on the 14th are significant days, we expect to see increased volatility over the coming weeks. Looking to find support before we consolidate and move up further.
March is historically a poor month for market performance. A fed pivot seems less likely as inflation remains high. If inflation rises next month that would be catastrophic for the short term, otherwise the markets will likely slowly improve leading into next year.
The issuer of the stablecoin $USDC, Circle, has a significant part of its reserves at Silvergate and Silicon Valley banks.
It looks like USDC will be fine as less than 1% of deposits are at risk, but be vigilant.
~80% of USDC reserves are held in US 3mo or less US treasury bills and in custody with BNYM.
It looks like USDC will be fine as less than 1% of deposits are at risk, but be vigilant.
~80% of USDC reserves are held in US 3mo or less US treasury bills and in custody with BNYM.
This uptrend confirms that we're finally starting to move away from 2 year lows. It's possible to visualize where we are in the market cycle by looking at indicators like the MVRV Z-Score. Seems that we are likely to have a slow and steady grind upwards as we start to set higher lows.
The odds of us going any lower will diminish as majors go higher. XRP has almost doubled in price in less than a month, this helped signal the start of prior bull runs. Once BTC is holding steady over $30k and ETH stays above $2k then we can probably kiss the bears goodbye for this season. 😏
The odds of us going any lower will diminish as majors go higher. XRP has almost doubled in price in less than a month, this helped signal the start of prior bull runs. Once BTC is holding steady over $30k and ETH stays above $2k then we can probably kiss the bears goodbye for this season. 😏
Currently seem to be in a crypto recession for altcoins. I'm hoping to see the market pick back up a bit later this year as we get closer to 6 months away from the halving, towards the end of October. https://twitter.com/byzgeneral/status/1668738486856212483
https://twitter.com/TheDeFinvestor/status/1670362620933595136
The last few weeks were a roller coaster ride as the SEC issued a lawsuit against Coinbase and Binance US.
Sentiment started improving after Binance US settled with the SEC.
Shortly after Blackrock, Valkyrie and WisdomTree filed for spot bitcoin ETFs which brought a lot of excitement to the markets.
Grayscale sued the SEC last June after the agency did not allow the firm to convert its flagship Bitcoin Trust (GBTC) to an ETF. The courts will decide the outcome of this case within the next few weeks. This means their approval could happen much sooner than the normal 240 day requirement.
BRICS alliance is also considering Bitcoin as an alternative to the US dollar (!)
The last few weeks were a roller coaster ride as the SEC issued a lawsuit against Coinbase and Binance US.
Sentiment started improving after Binance US settled with the SEC.
Shortly after Blackrock, Valkyrie and WisdomTree filed for spot bitcoin ETFs which brought a lot of excitement to the markets.
Grayscale sued the SEC last June after the agency did not allow the firm to convert its flagship Bitcoin Trust (GBTC) to an ETF. The courts will decide the outcome of this case within the next few weeks. This means their approval could happen much sooner than the normal 240 day requirement.
BRICS alliance is also considering Bitcoin as an alternative to the US dollar (!)
X (formerly Twitter)
The DeFi Investor 🔎 (@TheDeFinvestor) on X
The Binance vs. SEC fight is becoming hilarious:
The SEC sued Binance and requested a freeze on all its assets, citing an alleged misuse of funds.
However, when asked to present evidence, the SEC lawyers said that they had no evidence😅
You can't make this…
The SEC sued Binance and requested a freeze on all its assets, citing an alleged misuse of funds.
However, when asked to present evidence, the SEC lawyers said that they had no evidence😅
You can't make this…
🇺🇸 SEC approves first leveraged Bitcoin futures ETF.
Futures ETFs are not likely to affect prices as much as a Spot ETF, but this is good news.
Sentiment is finally starting to improve as we are finally starting to set higher lows.
https://fxtwitter.com/nsquaredcrypto/status/1668490747954249728
Futures ETFs are not likely to affect prices as much as a Spot ETF, but this is good news.
Sentiment is finally starting to improve as we are finally starting to set higher lows.
https://fxtwitter.com/nsquaredcrypto/status/1668490747954249728
FixTweet
Timothy Peterson, CFA CAIA (@nsquaredcrypto)
#Ethereum network value based on user growth is not slowing. Price has basically corrected to value; upward pressure on price from here, despite the negative sentiment and poor regulatory environment. Should be approaching $4k in 1 year. Likely a six-month…
Clarification: Volatility Shares’ 2x Bitcoin Strategy ETF (BITX) will become the first leveraged crypto ETF available in the United States. There are already several other futures ETFs.
Spot ETFs should help to improve Bitcoin's momentum and velocity over time and improve liquidity for the broader crypto ecosystem.
The approval of a Spot ETF will be very significant and is likely to be positive for the entire industry overall.
Spot ETFs should help to improve Bitcoin's momentum and velocity over time and improve liquidity for the broader crypto ecosystem.
The approval of a Spot ETF will be very significant and is likely to be positive for the entire industry overall.
Cautiously Bullish https://www.tradingview.com/chart/BTCUSD/YswLJmqE-Bulls-Whispers-How-2015-s-Ghosts-Haunt-Bitcoin/
TradingView
Bulls Whispers: How 2015's Ghosts Haunt Bitcoin for INDEX:BTCUSD by ArShevelev
Looking in BINANCE:BTCUSDT past, the similarities between the 2015 and 2023 bear markets are both enlightening and cautionary. In 2015, we witnessed a rapid descent marked by pronounced long wicks on the weekly chart. Fast forward to 2023, the landscape has…
SEC approves first spot Bitcoin ETF https://www.sec.gov/files/rules/sro/nysearca/2024/fg-89shlq.pdf