#REN

A strong bearish trend has formed in a bearish channel. We are waiting for it to make corrections after its recent growth and probably descend to the bottom of the channel.

Signs of disinflation continues to get stronger.

#Bitcoin's ranging prices have a lot to do with declining whale interest. This chart illustrates how closely #BTC and $1M+ valued whale transactions correlate. If prices continue sliding and a spike occurs, this would be a historically #bullish signal.

⚡️MARKET MOVEMENT⚡️

While macro has been the main driver behind crypto price action throughout most of the year, this changed after the FTX implosion. Correlations dipped to as low as 0.17 immediately following the collapse and have stabilized below 0.6.

Overall, despite briefly decoupling from US equities markets, crypto is not insulated from the broad macro backdrop.

There are at least one whole bitcoin on 977,424 addresses. This is a new record, representatives of Glassnode note, which means that investors continue to accumulate the first cryptocurrency in the current market conditions.

#ICP/USDT

#XLM continue the downtrend and there is no sign of strength yet. Don't rush for long entries as we may see more downward movement.

⚡️MARKET MOVEMENT⚡️

Daily crypto trading falls below $10 billion for the first time since 2020.

#XMR moves in a downward channel and there is a possibility of the price falling to the bottom of the channel.

#ZIL gave a breakout and fell strongly after . the major support is around 0.0138 - $ 0.0148 . Price is expected to reach that support, till then wait for a pull-back for short-sell entries.

#Binance users can now purchase crypto using Apple Pay & Google Pay

#BAND/USDT

⚡️MARKET MOVEMENT⚡️

The past 6-9 months have weakened interest in many of the most prominent crypto themes of the last few years

World Gold Council (WGC) statistics show the demand for #gold by central banks has risen at the fastest pace in 55 years.

💥The total supply of Bitcoin held by long-term holders is soaring

📊 The RSI indicator on the #Bitcoin monthly chart has never been so low

Can this oversold promise an attractive rise in the future and in the long term ? Yes

#Bitcoin is significantly undervalued based on its historical performance. This has only happened four times before in the entire history of Bitcoin

💥November 2011
💥January 2015
💥December 2018
💥March 2020

#Chainlink has been quietly building during this bear market.

💥As evidenced by the increasing number of active developers working on the #LINK project seen in the illustration.

💥Despite market uncertainty, the developer activity on #LINK remains strong

The average purchase price of short-term holders dipped below slightly below $18000.

This level is key resistance level as they might sell at break-even. Flipping this level will be bullish