BlackRock sees a shift in sentiment around Bitcoin.
According to head of digital assets Robert Mitnick, #BTC has started to perform noticeably better against the backdrop of the AI sector's decline β and this reinforces its role as a diversification tool.
According to head of digital assets Robert Mitnick, #BTC has started to perform noticeably better against the backdrop of the AI sector's decline β and this reinforces its role as a diversification tool.
That helps explain why price has been so sticky here.
There is an enormous amount of recent investor cost basis packed into a very tight range.
Please open Telegram to view this post
VIEW IN TELEGRAM
#ONGUSDT 1D
#ONG has broken above the descending resistance on the daily timeframe with strong volume. It is currently testing the 50-day SMA, which we expect it to break above soon as well. A confirmed breakout above the SMA50 could trigger a bullish move toward the following upside targets:
π― $0.04855
π― $0.05352
π― $0.05754
π― $0.06155
π― $0.06727
π― $0.07456
β οΈ Always use a tight stop-loss and apply proper risk management.
#ONG has broken above the descending resistance on the daily timeframe with strong volume. It is currently testing the 50-day SMA, which we expect it to break above soon as well. A confirmed breakout above the SMA50 could trigger a bullish move toward the following upside targets:
π― $0.04855
π― $0.05352
π― $0.05754
π― $0.06155
π― $0.06727
π― $0.07456
β οΈ Always use a tight stop-loss and apply proper risk management.
Please open Telegram to view this post
VIEW IN TELEGRAM
A fairly quiet week on the macro front, yet the whale inflow ratio on Binance just hit a new record.
Please open Telegram to view this post
VIEW IN TELEGRAM
The second channel is more mechanical. Three-month futures basis, the yield on the cash-and-carry trade that anchors institutional participation in crypto, has been paying less than a 2-year Treasury since February. Only one other stretch on record has run this long, from August 2022 into January 2023, and it ended at the cycle low.
When Treasuries out-yield the basis, the desks that supply leverage, depth and volume to this market have little reason to be here. Much of what follows in the off-chain section looks downstream of that one spread.
When Treasuries out-yield the basis, the desks that supply leverage, depth and volume to this market have little reason to be here. Much of what follows in the off-chain section looks downstream of that one spread.
Please open Telegram to view this post
VIEW IN TELEGRAM
Accumulating straight through a -49% drawdown, and now holding ~4M BTC.
Please open Telegram to view this post
VIEW IN TELEGRAM
Please open Telegram to view this post
VIEW IN TELEGRAM
Please open Telegram to view this post
VIEW IN TELEGRAM
The Choppiness Index for BTC has reached its highest level in several years.
Please open Telegram to view this post
VIEW IN TELEGRAM
Digital Chartist
#LINKUSDT 1D #LINK is moving inside a falling wedge pattern on the daily chart. It is currently facing a key resistance zone formed by the Ichimoku cloud and the wedge resistance. In case of a breakout above these levels, the potential upside targets are:β¦
Please open Telegram to view this post
VIEW IN TELEGRAM
Digital Chartist
#PLUMEUSDT 1D #PLUME is trading within a descending triangle pattern on the daily timeframe and is currently testing the 100-day SMA. Consider accumulating a small position at the current level and adding near the key support zone. A confirmed breakout aboveβ¦
Please open Telegram to view this post
VIEW IN TELEGRAM
Plenty of positions, thin turnover. On a tape this thin, liquidations meet little resistance in either direction.
Please open Telegram to view this post
VIEW IN TELEGRAM
#NILUSDT 1D
#NIL has broken above the 200-day SMA with strong volume and is now testing the descending resistance. A confirmed breakout above this resistance could trigger a bullish move toward the following upside targets:
π― $0.05880
π― $0.07533
π― $0.10468
π― $0.12840
π― $0.15211
π― $0.18588
π― $0.22890
β οΈ Always use a tight stop-loss and apply proper risk management.
#NIL has broken above the 200-day SMA with strong volume and is now testing the descending resistance. A confirmed breakout above this resistance could trigger a bullish move toward the following upside targets:
π― $0.05880
π― $0.07533
π― $0.10468
π― $0.12840
π― $0.15211
π― $0.18588
π― $0.22890
β οΈ Always use a tight stop-loss and apply proper risk management.
The share of coins in profit is 53%, compared with a 10-year average of 82%. Network activity is already above its yearly norm.
Please open Telegram to view this post
VIEW IN TELEGRAM