Bitcoin's next move

We'll show you what you can expect in the coming weeks and months.

In this week's issue:

- Bitcoin: Short-term, Mid-term & Long-term
- Backtest Signals
- BTC Cycle Analysis
- 10 Altcoin TA
- 3 additional opportunities for an airdrop
- Narratives and information for new opportunities
- Key News

Get the new issue here: @cryptobullets_bot

Those who seized the opportunity last week were rewarded with profits. You have seen it.

Monthly subscribers will get a surprise next week.

Grab your TL;DR issue and enjoy your Sunday.


Thanks,
The Alchemic One (TAO)

RT, like & follow us also on twitter: https://twitter.com/cryptoBLTS/status/1665390040854216705?s=20

Sei Airdrop

As mentioned in a previous report, the airdrop has been confirmed and those who took advantage of the opportunity at that time should have qualified.

The window of opportunity is closing, and it may already be closed.

Those who still want to try can do so. The testnet is still live.

It's free and it's done quickly.

Here is a short thread: https://twitter.com/cryptoBLTS/status/1665723262179868673?s=20

Bitcoin Falling Wedge Breakout Failing?

• Bitcoin briefly broke above a key resistance but failed to sustain it.

• Prices are now declining and threatening key support levels.

• Retest 200-week MA

• Past trends suggest possible rebound, but a weekly close below these levels may signal further decline.

RT, like & follow us also on twitter: https://twitter.com/cryptoBLTS/status/1665808099523829761?s=20

Upcoming Treasury Buybacks

• The MOVE index indicates increased Treasury market volatility due to fewer buyers and Federal rate hikes.
• Persistent inflation prevents the Fed from easing policies, further destabilizing the bond market.
• To counter this, the Treasury will reintroduce Treasury Buybacks in 2024, swapping newly issued debt for illiquid bonds.
• This strategy helps reduce market volatility and supports stability, but its impact will be less significant than Quantitative Easing.
• If a market disruption occurs, the Treasury will intervene, although its capacity is limited.

Expect similar news in the coming days/weeks. Like those from Binance and Coinbase today.
Always remember. Keep only what is necessary on exchanges.

BTC Part 1 (Fear & Greed Index)

- Now testing the absolute trend as support on indicators
- Impacted by government regulations
- Despite recent price drops, indicators suggest BTC may continue its bullish trend
- Bitcoin's fear and greed index is at "fear" (44/100)

Read more here: https://twitter.com/cryptoBLTS/status/1666151520058867723?s=20

BTC Part 2 (MVRV)

- Retesting current support trend line
- Losing this trend would be very bearish
- Trends crucial for BTC price action, especially in early cycle activity
- Still far from reaching 2 MVRV score of previous Bitcoin mid-tops


RT, like & follow us also on twitter: https://twitter.com/cryptoBLTS/status/1666433675788001283?s=20

Altcoin Update

(Polygon) MATIC
- As written on Sunday, perfectly followed the yellow path
- Lost support, creating new resistance
- Testing major green support

(Cosmos) ATOM
- Lost Higher Low trendline support
- Confirming triangle breakdown
- Expect pullback into green area

More & Chart: https://twitter.com/cryptoBLTS/status/1666503417768943616?s=20

Sequencers

- Bundle and send crypto transactions to Ethereum, creating sustainable DAO-controlled revenue.
- Despite challenges in decentralizing sequencers, they have generated significant revenue for L2 platforms like Arbitrum and Optimism.
- Sequencer revenue could increase with greater adoption, technical improvements, and potential transaction ordering fees.
- Revenue doesn't necessarily go to token holders; it could be used for users' benefits or public goods.
- Arbitrum DAO has already collected ~$7M in revenue since the airdrop at the end of March

Hint: Observe on this topic (long-term); AstriaOrg & EspressoSys

RT, like & follow: https://twitter.com/cryptoBLTS/status/1666744728564449283?s=20

Market Update

- Bitcoin's fall from $30K continues, influenced by SEC news about Binance and Coinbase.
- 7th week of Bitcoin fund outflows; GBTC discount drops below 40%.
- Bitcoin's correlation with gold weakens, diverges from equities.
- Global central bank assets contract more; worsening economic data.
- U.S. initial jobless claims have been much higher than expected.
- Bitcoin and equity volatility at historically low levels but might not last.
- Short-term bearish Bitcoin signals remain significant.

DEFI Updates

- Volume of DEXs hit new local lows
- Synthetix V3 spot market released.
- Sushiswap V3 and DEX Aggregator live on Avalanche.
- Centrifuge Prime for DAOs managing RWAs launched.
- Raft, a stablecoin protocol live for borrowing against $stETH.
- Arbitrum experienced a one-hour transaction halt.
- AAVE proposed GHO stablecoin deployment on mainnet.
- Uniswap's switch fee proposal didn't pass.
- Archi Finance launched strategy on GMX V2, $ ARCHI IDO started.
- Optimism Bedrock Upgrade completed (already saved $150,000 in transaction fees).
- Atomic Wallet exploited, tens of millions stolen.
- Rocket Pool's $rETH live on zkSync Era mainnet.
- LayerZero live on Arbitrum Nova mainnet.


If you want more updates like this react with 🔥 & share the updates with your friends


RT, like & follow: https://twitter.com/cryptoBLTS/status/1667168983810703362?s=20

Update

- Robinhood delists Cardano (ADA), Polygon (MATIC), and Solana (SOL)
- June 27th deadline
- (Today) You can see many on-chain movements associated with Robinhood and whales/institutions wallets
- They are depositing at Binance & Coinbase
- Also today: TUSD mint via Prime Trust was paused

3 Upcoming Free Money Opportunities

- Smilee (Derivatives)
- GammaSwap (Derivatives)
- Linea (L2 ->zk narrative)

We have filtered out for you the projects that have a high probability of an airdrop and do not require any costs.

Everything is on the testnet (ARB & ETH)

And as always do not use a main wallet or a wallet with valuable assets.

The work you are doing now will be well rewarded!

Read more, RT & ❤️ : https://twitter.com/cryptoBLTS/status/1667577420256296961?s=20

A turbulent week filled with volatility has come to an end.

What can you expect next and what opportunities are opening up right now?

We will present them to you and highlight those that have attracted our attention.

You'll get all the important reports and more in our new CryptoBullets TL;DR issue.

Get the issue here: @cryptobullets_bot

In this week's issue:

- Bitcoin Updates
- Protocol Updates
- 6 Airdop Opportunities
- Hints for Short Opportunities
- Narratives with Potential
- Key News
- Altcoin TA

Grab your TL;DR issue and enjoy your Sunday.

Thanks,
The Alchemic One (TAO)

Market - Week Ahead

This week we have some dates to keep an eye on.

- US - CPI Inflation
- FOMC Meeting
- ECB Interest Rate Decision
- US - Equity Options Expiry

and more

Here are all the exact dates: https://twitter.com/cryptoBLTS/status/1667965799649226752?s=20

Bitcoin - Recursive inscriptions (NEW)

- The Ordinals Protocol now allows Bitcoin inscriptions to reference other inscriptions
- Improving on-chain data efficiency
- This allows complex applications, like 3D games (Browser), to be created fully on-chain.
- It essentially transforms Bitcoin into an internal internet, where files can request data from others.
- Explorers (Ordinals related) will support soon recursive inscriptions, functioning like Bitcoin web browsers.

RT, like & follow us also on twitter.
Read more: https://twitter.com/cryptoBLTS/status/1668144747980914694?s=20

Bitcoin Update

- Closed below the $26700 support, which may now act as resistance.
- The ongoing trend of Lower Highs may push down a potential relief rally.
- Resistance lies around $26700-$27000, aligning with a valid Head and Shoulders (H&S) pattern.
- A bounce might occur at current levels, as suggested by a falling wedge pattern.
- Macro-wise; BTC might revisit the $23400 level, a previous inverse H&S validation point.


Charts & more: https://twitter.com/cryptoBLTS/status/1668305506882969600?s=20

Maverick Protocol

Today:
- Binance announced the 34th project on Binance Launchpool.
- Those who hold BNB anyway can see this as a Free Money Opportunity.
- Farming Period: 2023-06-14 to 2023-07-08

About Maverick Protocol:
- Ethereum & zkSync-based DeFi protocol with unique AMM design.
- Solves issues with current liquidity solutions: active management, sideways market bias, and uniform liquidity spread.
- Offers 4 liquidity modes: Right (bullish), Left (bearish), Both (tracks both directions), Static (fixed range, custom distribution).
- 'Boosted positions' to incentivize specific price ranges, useful for new protocols.
- Incentives for boosted positions can be in any ERC-20 token, user-selected, with a flexible distribution duration.


RT, like & follow us: https://twitter.com/cryptoBLTS/status/1668607044868358145?s=20

Digital Asset Fund Flows - weekly


- Outflows totalling $88M (8-week outflow of $417M)
- Nearing the record 12-week outflow seen last year
- North America was the region with the highest outflow
- Minor inflows of $9.2M were reported in Switzerland, while Germany experienced an outflow of $9.4M
- Bitcoin recorded an 8-week outflow of $254M (1.2% of total AuM), with short-bitcoin seeing outflows representing 44% of AuM
- Ethereum faced its largest single week of outflows since last September, totaling $36M (0.6% of AuM)
- Altcoins showed varying results, with minor inflows into Litecoin, XRP, and Solana, and outflows from Polygon

CME Bitcoin derivatives - Update

- Remain stable
- Traders aren't rushing to get Bitcoin futures; premium over spot is nearly zero.
- Open futures interest hasn't changed significantly in 3 months.
- Increased short positions are likely temporary responses to SEC crypto regulation.
- Puts to calls ratio in CME options is even, indicating no clear market direction.
- Max pain strike ($27k) relatively close to spot BTC, but likely won't significantly influence it.

DeFi - Update

- Curve: Founder; $110M leverage position against CRV (Aave, Fraxlend, Abracadabra)
- Sturdy Finance exploit
- Finblox Starts Offering Tokenized Treasury Yield With OpenEden
- Avail Network Starts Phase 2 of Its Testnet
- Uniswap V4 revealed
- Polygon Labs introduces Polygon 2.0 (set of upgrades to offer scalability and unified liquidity via ZK tech)
- Enjin Blockchain Live
- Hubble Exchange Testnet
- 21Shares, introduces 21Shares Lido DAO ETP (LIDO), offering traditional investors single asset exposure to Lido DAO
- Options AMM Aevo is now open to the public
- Balancer is now live on Polygon zkEVM to enable boosted & liquid-staked ETH pools


Note: Keep an eye on the Curve position and possible consequences as a result.