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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.
Overall, despite briefly decoupling from US equities markets, crypto is not insulated from the broad macro backdrop.
BTC spot volume usually peaks between 9 and 11 hours ET, Coinmetrics shows.
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Bitcoin NFTs push transaction fees on the blockchain to highest in over a year.
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Stablecoins are still a small fraction relative to cash in circulation, especially in Europe. The end of BUSD could be an opportunity for EUR-pegged stablecoins which have had trouble taking off.
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On-chain options only account for 0.19% of notional open interest (OI), with a high of 2% OI in April 2022
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Digital asset investment products saw minor outflows totalling $2m. Although this masks broader negative sentiment as the largest inflows were into short investment products.
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Binance Bitcoin trading volume hits lowest level in 8 months following termination of zero-fee trading
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Bitcoin and Ether options client interest and trading activity continue to accelerate as Q1 wraps up, with both contracts reaching record open interest of 15,089 contracts on March 27
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#Analysis
Overall short term bias has become bearish due to the last couple of day's price action, showing new mid term lows and the potential of an even deeper correction before exploding towards new long term highs.
Mid term bias is now neutral, meaning that we need a solid daily confirmation either to the upside (above $30,000) or to the downside ($26,000), to confirm our next big move, on which we'll be updating, as always.
Overall short term bias has become bearish due to the last couple of day's price action, showing new mid term lows and the potential of an even deeper correction before exploding towards new long term highs.
Mid term bias is now neutral, meaning that we need a solid daily confirmation either to the upside (above $30,000) or to the downside ($26,000), to confirm our next big move, on which we'll be updating, as always.
#BTC started giving a shallow closing on Daily TF below the level which is a sigh of Weakness. 4H TF Started a new range and expecting the volume to drive to price this weekend. Keep an eye on breakout as its very important the next move in the market.
We are coming back like in good old days. And in market it's time that will give us much profit
Forwarded from TradingByCF new VIP
BTC LONG
Entry: 67000 - 66700
Targets: - 67300 - 6770p - 68200 - 68900
SL: 66100
Entry: 67000 - 66700
Targets: - 67300 - 6770p - 68200 - 68900
SL: 66100
☝️✅ All TP done for our last free signal. This was just a trial. If you want to access all our signals join VIP.
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Contact @CFTrader01