#Bitcoin reverse off from the itty bity support zone and the major move came with the #FOMC news and Statements. Price now break and close above the zone, shows strong buying pressure and sustaining above it. Now, we can expected the continuation from here but the only problem is the minor resistances, so if you bought the dip then just hodl and watch.

#BTC.D UPDATE :

#BTC.D (#Bitcoin Dominance) didn't moved alot but Altcoins got strong dips with the #BTC crashes but Dominance remains nearly the same as it was. This shows strong sustainability as soon as #BTC recovers, alts will start the rally again. Also, Index floating below the resistance is a good sign of that.

So, let's connect the dots between increased capital coming in and its impact on both the realized capital and, more notably, the Realized Profit metric. This week, we saw the Realized Profit metric spike significantly, surpassing its long-term average by more than one standard deviation due to high levels of on-chain spending.

These developments closely resemble the conditions observed at the onset of previous 'Euphoria' phases, akin to the bull markets of 2017 and 2021.

What Is an Off-Chain Transaction?

An off-chain transaction differs from an on-chain one because it occurs outside of the main blockchain network. It's a solution to the delays and costs associated with on-chain transactions.

Take cryptocurrencies like Litecoin, Ethereum, and Dogecoin, for example. While each has its unique features, they all share the decentralized nature of Bitcoin. They use a network of nodes to validate transactions, enabling users to send money globally, regardless of location.

To address the limitations of on-chain transactions, people turned to off-chain solutions. These second-layer protocols operate outside the primary blockchain, offering faster and cheaper transactions.

The second layer involves projects and protocols built on top of the base blockchain to enhance technology and user experience. When users find shortcomings in a public blockchain, they turn to these solutions for improvements.

Off-chain transactions can be as simple as two parties agreeing on a debt between them. Unlike on-chain transactions, these off-chain deals don't touch the blockchain, allowing for instant execution and minimal fees.

Users can set up channels for off-chain fund transfers, exchanging private keys with their wallets. They can conduct multiple transactions until ready to settle, at which point they record the final value on-chain.

Popular off-chain protocols like the Lightning Network and Liquid Network offer solutions to blockchain scalability issues, ensuring quick and inexpensive transactions. However, they come with limitations, such as the need to lock up Bitcoin in the Liquid Network and finite capacity in payment channels.

Off-chain transactions excel in speed, cost-effectiveness, and privacy. They're ideal for those seeking quick, cheap, and discreet transactions.

Here's the Analysis of #FRONT :

#FRONT made a rise from its fundamental events of rebranding and now correcting itself. Price kinda ranging between the zone and made a very steep Falling Wedge Pattern. Price is expected to have a bounce from the support zone of $1.66 - $1.22. But Right now, its kinda but unclear, so wait for the breakout either side and ride the move thereafter.

#Bitcoin made a successful retest back to the support, which is good for the market. Now, we can expect a high probable bounce from here and break all its minor resistances and major once too. Also, you can see a Inverse Head & shoulders forming in the market, so chances are pretty higher.

#MASK made its clear move to the upside and rejected the support zone on Daily TF and H4 TF too. If you made the buys then its good or you can wait for a retest back to a formed support before entering or below $4.60 .

#TOTAL2 QUICK MARKET UPDATE :

#TOTAL2 didn't made a deep retest and broke the resistance trendline with a similar pattern to #BTC IH&S formed in it. Looks, like the correction is over and we can consolidate for a week here. Now, the inverse Head and Shoulder must needs to break above the $1.17T mark/ resistance to confirm. A break will start push in alts rally and potentially towards the Resistance around $1.35T.

Open Interest Rising/ Remains Same Irrespective to #BTC Price Movement.

What Is an Off-Ledger Currency?

An off ledger currency isa currency which does NOT reside on blockchain or other distributed ledgers, which includes all currencies employed by nation states. While an off-ledger currency isn’t developed specifically for a blockchain, they may be used in it thanks to their utility and wide acceptance. For instance, Ripple’s Ripplenet and the Stellar blockchain may be able to transfer and convert off-ledger currencies worldwide via their bridge currencies, XRP and XLM, respectively.

Fiat money is an example of an off-ledger currency since it is issued by the central banks outside blockchain networks. The United States dollar (USD) is a prime example of an off-ledger currency, which is used worldwide because of its worth and is typically held as a reserve currency by most financial institutions. Unlike an on-ledger currency, it is centrally controlled and issued without any limits.

As a consequence, off-ledger currencies do not have any intrinsic value. Rather, their value is derived from a government’s backing and subsequent declaration as legal tender. Central banks’ right to issuance and control fiat money gives them absolute power and influence over the economy. Unfortunately, they can still be counterfeited by malicious actors. And if their issuance is left unchecked, they can incur negative effects to economies.

Unlike an on-ledger currency, they don’t need continuous incentivized computational power (or other consensus mechanism requirements) to exist. Some off-ledger currencies are actually digital fiat equivalents, being used on blockchains like USD or EUR due to their stability and popularity. Fiat-based stablecoins (tokens pegged to the value of nation state currencies) may fall under the definition of off-ledger currencies since their value is still derived from off-ledger currencies.

Here's the Analysis of #JUP :

#JUP is been moving up with the trendline and going through a small correction phrase. Currently, price is retesting the trendline as support and potentially bounce from there. That buys could be a risky one but at the same a good one, so you can accumulate some here and rest at $1.00.

#BITCOIN DAILY TF UPDATE :

#BITCOIN goes as predicted as Structure turned bearish and moving lower it. Price nearly goes towards the support zone and bounced. Well, there're still chances of coming back and as Weekly TF did a stop Hunt of the previous high. Also, you can see Daily TF, is congesting, so a Market structure shift to the bullish side is important.

#FRONT broke the falling wedge pattern but the breakout was very weak. Price started consolidating after that and now all we have to di is wait for the breakout. Dropping back to the support will be the good point for buys and break above directly will be give buys on retest.

During high-activity events where there is an influx of demand for Ethereum blockspace, fees can escalate to over $30. Prior to Dencun, fees on roll-ups were somewhat dependant on mainchain fees, and have seen their fees increase up to a maximum of $2.50 during similar situations.

Here's the Analysis of #BAKE :

#BAKE is kinda moving in a large range and rejecting both side of the zone. Price was moving very correctively as the moment and middle of the nowhere. The good point will be wait for a rejection from the support around $0.34 - $0.35 (Blue Zone) and thereafter look for entries.

#BITCOIN WEEKLY TF UPDATE :

#BITCOIN made a deep correction now and as always said, its good to have the deep corrections with the rising market. Now, Weekly candle doesn't giving any significant sign but yeah it made its closing below the support of #ATH. But also, price already made a retest back to the lower support too around $62,000. So, You can expect the bullish continuation from next week.