#BTC.D reacted from the Weekly Resistance Area and Dropping. Some alts came into play with this and moving. #BTC continue to consolidate and Dominance might reach the support around 53.10% - 53.20%, where altcoin take another rally to the upside. Alternatively, if price broken then we can move lower with sharp decline.

Open interest did decline by around 25k BTC on 17-Oct, which is a reduction of around 8.3%. This was followed by a second major leverage washout of 35k BTC on 23-Oct as the market rallied to new yearly highs of $35k. This leverage squeeze is now of a magnitude similar to the short-squeeze in January, and the long-squeeze in August.

What Is a Coordinator?

In blockchain technology, a coordinator performs the function of a tracking and checking system for validator nodes. The coordinator issues milestones throughout a given amount of time. These milestones are essentially transactions recorded on the blockchain that validator nodes use in order to verify that their copy of the ledger is correct. It is important to note that not all blockchains feature a coordinator client.

A good example of a blockchain that used a coordinator client for ledger verification is IOTA. The IOTA blockchain depended on this coordinator client in order to add a secondary level of security and ensure the validity of all copies of the distributed ledger. However, the IOTA foundation has now implemented the next step in its roadmap, and the coordinator client is completely eradicated from the system.

Nowadays, as blockchain technology grows and develops, new consensus mechanisms come to life. These make it easier for blockchains to be fully decentralized. If we continue with the IOTA example, the network now relies solely on its Directed Acyclic Graph (DAG) for transaction verification and node validation. In this sense, coordinator clients might not be a viable security solution for much longer. Even so, for projects that are just starting out, or ones that actually prefer a level of centralization in the blockchain, a coordinator client can be a helpful way to ensure the security of the whole network.

Here's the Analysis of #MAGIC :

#MAGIC is rejected on Daily TF around $0.613 - $0.627 but on H4 its looks like a fake-out. Currently, price break below the Trendline and also on the structural support zone of $0.568 - $0.579. If price breaks below the support then we can go with shorting opportunity. Buys only after resistance.

#bitcoin again rejected nearly from the top of the range and like to form a flag pattern. Well, that kinda a not good to us as volume to looks pretty low and looks like a distribution happening here. Eyes on Breakout and we can expected some fakeout before that.

Notice of Removal of Spot Trading Pairs - 2023-11-03
https://www.binance.com/en/support/announcement/87197e1c25dc42b8b37360a1c05515d1

Looks like #MAGIC is going as per our plan and made a retest of the trendline. Price about to break the support and potentially close below it. Well, a closure is a confirmation to setup, so take it accordingly.

Approximately $56M in short positions were liquidated when the rally kicked off on 17-Oct, and followed by an additional $125M on 23-Oct. This is a meaningful short liquidation volume within the context of 2023. It is again comparable to the $155M in short liquidations in January and the $220M in long positions closed in August.

A Short Note on Corporate Treasury ?

Corporate treasuries assume responsibility for a company's cash reserves, functioning as financial risk managers focused on shielding the company's value from routine business-related risks. They also play a pivotal role in managing a company's cash reserves to guarantee liquidity, risk mitigation, funding, optimal capital allocation, and resource alignment with the company's strategic objectives.

To enhance liquidity management, they employ various tools such as assessing the balance sheet's size and asset and liability liquidity. This approach ensures that sufficient liquidity is available for crucial operations like acquisitions while maximizing returns on cash reserves.

Furthermore, corporate treasurers oversee the implementation of company-wide strategies, providing the C-suite with essential insights regarding potential acquisitions or expansions into new markets. When the need for funds arises, they are responsible for sourcing capital, which may involve asset liquidation, stock issuance, or utilizing existing reserves.

Finally, corporate treasuries are entrusted with the critical role of risk management. These risks encompass interest rate fluctuations, credit exposure, currency exchange rate volatility, commodity price risks, and operational uncertainties. Among these, the most prevalent risk categories include those linked to liquidity, creditworthiness, and currency fluctuations.

Couple of High Volatile News coming in Few More Hours. Also, we do have a #NFP and other News on the way this week.

So, just be careful with any open trades or Futures Positions 📊

Here's the Analysis of #CYBER :

#CYBER flipped above the strong resistance zone of $5.43 - $5.78 and a triangle pattern, which did played out pretty well. Price is been again back near the support where a bounce is expected. Buys will be risky here, but can go with small lots. Price breaking below will give a clean short-sell opportunity/

#MicroStrategy Bought Another Chunk of #Bitcoin 📉📉

#Bitcoin gave a strong breakout and printed a new Higher High. Price now going to a retest and expected to reach the top of the zone around $34,900. If Daily candle sustain above the zone then we can see more move to the upside.

#MAGIC setup unable to going as it failed to give closure below the zone (Grey Box) and Made a support. Price straightaway hit the resistance zone as a setup and again caught in a range. Well, eye on the breakout where price moves will take the setup.

The Short-Term Holder (STH) cost basis, which now stands at $28,000, means that the average recent investor is currently experiencing an average profit of approximately +20%. The chart provided illustrates the STH-MVRV Ratio, with red indicating periods when the market traded below the STH cost basis and green representing periods above it.

In 2021-22, there were instances where the STH-MVRV experienced relatively significant corrections, often exceeding -20%. In contrast, the recent August sell-off only reached a low of around -10%. It's worth noting the relative shallowness of this MVRV decline compared to previous corrections. This suggests that the recent correction had substantial support, possibly serving as a precursor to the rally observed this week.

What is #MVRV Ratio ?

The #MVRV (Market Value to Realized Value) score is a metric used to assess the #valuation of a cryptocurrency by comparing its market value to its realized value. The #MVRV score helps to gauge whether a cryptocurrency is overvalued or undervalued based on its #historical price movement.

The market value of a #cryptocurrency refers to its current price multiplied by the total supply of #coins in circulation. On the other hand, the realized value takes into account the price at which each coin last moved on the #blockchain, essentially measuring the average price at which investors acquired their holdings.

So what does that Indicate ?

#MVRV Values > 3.5 has generally served as a strong signal for late stage #bull cycles, and heightened probability of heavy #distribution or simple indicate a potential Market Top.

#MVRV Vales < 1.0: indicates that a large cross-section of the #supply is near break-even, or held at a loss. These low values have typically provided strong signal of market capitulation and late stage #bear accumulations or Simply Indicate the Market Bottom.

Here's the Analysis of #TOMO :

#TOMO is been flipped above the zone and again moved below of the zone of $1.749 - $1.789 and dipped below the support zone of $1.619 - $1.642 and might gonna reject it. Any setup only after a Daily Support zone or break below of the zone for shorting.

#BTC made a deeper retest back tot he top of the consolidation range and going lower now. Well, the bottom support is at $33,600, where, price a react. In case price breaks below the zone then we have clean traffic to left till $31,000 and below.