According to SoSoValue, the total net inflow into the US Bitcoin Spot ETF on 12th June was $100.9million.
This is the first net outflow after 19 consecutive days of net inflows.
What do I think about it?
This time, there were only two consecutive days of outflows from Bitcoin ETFs. The average duration of previous outflows, as seen on the chart, was 4-5 days.
Of course, a huge positive is the decrease in US inflation, according to yesterday’s statistical data. The decline in BTC after the FOMC meeting is also logical. Before the meeting, Bitcoin rose to 70,000. Investors were expecting new rhetoric from the FOMC that interest rates in the US would be reduced sooner than anticipated. However, such comments were not made.
What should we expect next? Most likely, a general decrease in trading volume in June due to the beginning of the holiday season in the northern hemisphere. BTC, even after yesterday’s decline, is still only 10% away from its all-time high. And as we get closer to autumn, the more likely we are to see a sharp rise in the first cryptocurrency.
This is the first net outflow after 19 consecutive days of net inflows.
What do I think about it?
This time, there were only two consecutive days of outflows from Bitcoin ETFs. The average duration of previous outflows, as seen on the chart, was 4-5 days.
Of course, a huge positive is the decrease in US inflation, according to yesterday’s statistical data. The decline in BTC after the FOMC meeting is also logical. Before the meeting, Bitcoin rose to 70,000. Investors were expecting new rhetoric from the FOMC that interest rates in the US would be reduced sooner than anticipated. However, such comments were not made.
What should we expect next? Most likely, a general decrease in trading volume in June due to the beginning of the holiday season in the northern hemisphere. BTC, even after yesterday’s decline, is still only 10% away from its all-time high. And as we get closer to autumn, the more likely we are to see a sharp rise in the first cryptocurrency.
Altcoin market has been negative since this morning.
Binance Exchange: Spot pairs for USDT. Total 385
Since the beginning of today (not in the last 24 hours), 15 pairs are up and 370 are down.
Link Screener Change from open day
Binance Exchange: Spot pairs for USDT. Total 385
Since the beginning of today (not in the last 24 hours), 15 pairs are up and 370 are down.
Link Screener Change from open day
Why is the market down so much today? A lot of people are trying to find the reason. For example, some important news. Sometimes there is no news.
Or rather, there was news on Wednesday. The FOMC meeting. A lot was expected from it. It turned out to be the opposite. Despite the slowdown in inflation, Mr Powell said that there was still a long way to go before interest rates would be cut.
That was the trigger. Most cryptocurrencies are falling for the third day without a rebound.
Or rather, there was news on Wednesday. The FOMC meeting. A lot was expected from it. It turned out to be the opposite. Despite the slowdown in inflation, Mr Powell said that there was still a long way to go before interest rates would be cut.
That was the trigger. Most cryptocurrencies are falling for the third day without a rebound.
Trade idea
The SEC chairman announced that ETH ETFs will start trading on the exchange at the end of August, in 2.5 months.
Speculators may push ETH's price up to $4,000 by mid-August. ETH is unlikely to drop below $3,000 unless the overall market sharply declines, and even then, any drop would likely be brief.
This presents a great range trading opportunity for the next 2.5 months. Focus on long trades. Buy ETH at any price and use a grid of sell orders to lock in profits.
Example:
* Buy 1 ETH at $3,400.
* Place sell orders for 0.2 ETH at $3,500, $3,600, $3,700, $3,800, $3,900.
* If the price rises to $3,700 and 3 orders are closed, place buy orders again at $3,400 or $3,500.
* If the price continues to fall, average down at $3,200 and $3,000.
These levels can be traded multiple times over 2.5 months. Remember to avoid leverage and allocate only a small portion of your trading capital to this strategy.
The SEC chairman announced that ETH ETFs will start trading on the exchange at the end of August, in 2.5 months.
Speculators may push ETH's price up to $4,000 by mid-August. ETH is unlikely to drop below $3,000 unless the overall market sharply declines, and even then, any drop would likely be brief.
This presents a great range trading opportunity for the next 2.5 months. Focus on long trades. Buy ETH at any price and use a grid of sell orders to lock in profits.
Example:
* Buy 1 ETH at $3,400.
* Place sell orders for 0.2 ETH at $3,500, $3,600, $3,700, $3,800, $3,900.
* If the price rises to $3,700 and 3 orders are closed, place buy orders again at $3,400 or $3,500.
* If the price continues to fall, average down at $3,200 and $3,000.
These levels can be traded multiple times over 2.5 months. Remember to avoid leverage and allocate only a small portion of your trading capital to this strategy.
The market has been positive since this morning.
Binance Exchange: Spot pairs for USDT. Total 385
Since the beginning of today (not in the last 24 hours), 345 pairs are up and 40 are down.
Link Screener Change from open day
Binance Exchange: Spot pairs for USDT. Total 385
Since the beginning of today (not in the last 24 hours), 345 pairs are up and 40 are down.
Link Screener Change from open day
According to a BIS survey, 94% of central banks worldwide are exploring the possibility of issuing digital currencies.
Some 58% of them are actively developing or piloting their own digital currency projects.
I just have one question.
How many central banks have already invested in bitcoin and how many are considering it?
The banking system resembles dinosaurs that are long extinct. Imagine if a central bank in a relatively poor African or Asian country had converted 10% of its reserves into bitcoin when it was $100.
Today it would be very rich compared to its neighbours and even some European countries. The head of that central bank would be a national hero and would easily win any election, for example for president, by a large margin.
Yet these bankers continue to claim that cryptocurrencies are evil. 🙈
Some 58% of them are actively developing or piloting their own digital currency projects.
I just have one question.
How many central banks have already invested in bitcoin and how many are considering it?
The banking system resembles dinosaurs that are long extinct. Imagine if a central bank in a relatively poor African or Asian country had converted 10% of its reserves into bitcoin when it was $100.
Today it would be very rich compared to its neighbours and even some European countries. The head of that central bank would be a national hero and would easily win any election, for example for president, by a large margin.
Yet these bankers continue to claim that cryptocurrencies are evil. 🙈
Today, altcoins fell sharply, possibly due to news from South Korea. Rumors of a mass delisting of "kimchi coins" (Korean cryptocurrencies) have caused panic among investors. A law protecting virtual asset users takes effect next month, potentially leading to a review of around 600 cryptocurrencies for compliance with new standards.
Despite this, some exchanges believe mass delisting is unlikely and investor fears are exaggerated. South Korean financial regulators confirmed they do not participate in listing reviews or influence delisting decisions. The market's sharp reaction is creating significant pressure on altcoin prices.
This law aims to increase transparency and security in cryptocurrency transactions, which should positively impact market sustainability in the long term. However, such changes often cause short-term instability and nervousness among investors.
Despite this, some exchanges believe mass delisting is unlikely and investor fears are exaggerated. South Korean financial regulators confirmed they do not participate in listing reviews or influence delisting decisions. The market's sharp reaction is creating significant pressure on altcoin prices.
This law aims to increase transparency and security in cryptocurrency transactions, which should positively impact market sustainability in the long term. However, such changes often cause short-term instability and nervousness among investors.
According to SoSoValue, the total net outflow into the US Bitcoin Spot ETF on 12th June was $133.9million.
It's the fifth consecutive day of outflows
What do I think about it?
The chart above shows that the unprecedented series of 18 consecutive positive days (with net inflows into Bitcoin ETFs) ended on June 10. At that time, Bitcoin's price was at $70,000. Over the next 10 trading days, Bitcoin dropped to $64,500.
Any upward bounce is met with new selling, and the price continues to decline. The situation is much worse for altcoins, with the market experiencing significant drops.
How long will this continue? It's important to pay attention to the dynamics of the ETH/USDT pair. In recent days, it has been trading within a narrow range. Speculators and investors continue to buy, accumulating ETH amid the strong negative market sentiment, anticipating the launch of the ETF. No one knows when this will happen—maybe in early July, or perhaps at the end of August.
What is clear is that this event will trigger a new wave of growth, primarily in altcoins.
It's the fifth consecutive day of outflows
What do I think about it?
The chart above shows that the unprecedented series of 18 consecutive positive days (with net inflows into Bitcoin ETFs) ended on June 10. At that time, Bitcoin's price was at $70,000. Over the next 10 trading days, Bitcoin dropped to $64,500.
Any upward bounce is met with new selling, and the price continues to decline. The situation is much worse for altcoins, with the market experiencing significant drops.
How long will this continue? It's important to pay attention to the dynamics of the ETH/USDT pair. In recent days, it has been trading within a narrow range. Speculators and investors continue to buy, accumulating ETH amid the strong negative market sentiment, anticipating the launch of the ETF. No one knows when this will happen—maybe in early July, or perhaps at the end of August.
What is clear is that this event will trigger a new wave of growth, primarily in altcoins.
The market has been positive since this morning.
Binance Exchange: Spot pairs for USDT. Total 384
Since the beginning of today (not in the last 24 hours), 306 pairs are up and 78 are down.
Link Screener Change from open day
Binance Exchange: Spot pairs for USDT. Total 384
Since the beginning of today (not in the last 24 hours), 306 pairs are up and 78 are down.
Link Screener Change from open day
The launch of the Bitcoin ETF has completely changed the weekly market dynamics. Take a look at the chart. I've highlighted the trading volumes over the weekends for the last six weeks. Previously, trading volumes on Saturdays and Sundays were lower compared to weekdays. However, now they have decreased even further. Additionally, weekend volatility has significantly reduced.
The more the market focuses on the Bitcoin ETF, the more important the Friday (and weekly) closing price on American stock exchanges becomes.
Why?
On Monday, by the time the exchange opens, there often forms a positive or negative gap. A gap tends to be closed. This applies to stocks and futures. A large number of speculators on stock exchanges open positions at the start of trading on Monday to close these gaps.
Statistics show that over a long period, this is a profitable strategy. What you do with this information is up to you.
The more the market focuses on the Bitcoin ETF, the more important the Friday (and weekly) closing price on American stock exchanges becomes.
Why?
On Monday, by the time the exchange opens, there often forms a positive or negative gap. A gap tends to be closed. This applies to stocks and futures. A large number of speculators on stock exchanges open positions at the start of trading on Monday to close these gaps.
Statistics show that over a long period, this is a profitable strategy. What you do with this information is up to you.
There was a large wave of liquidations and stop-loss hits in the market.
All charts in one tab via the link https://cryptotradinglab.com/screener/binance
All charts in one tab via the link https://cryptotradinglab.com/screener/binance
The market has been positive since this morning.
Binance Exchange: Spot pairs for USDT. Total 384
Since the beginning of today (not in the last 24 hours), 295 pairs are up and 89 are down.
Link Screener Change from open day
Binance Exchange: Spot pairs for USDT. Total 384
Since the beginning of today (not in the last 24 hours), 295 pairs are up and 89 are down.
Link Screener Change from open day
VANECK SUBMITS APPLICATION FOR SOLANA ETF
All charts in one tab via the link https://cryptotradinglab.com/screener/binance
All charts in one tab via the link https://cryptotradinglab.com/screener/binance
Are we seeing this for the last time?
Bitcoin has been significantly dropping over the past three days. As usual, altcoins are declining even faster.
The reason for the drop is well-known. The German government is currently selling (if possible) 30,000 bitcoins. The U.S. government is selling hundreds of bitcoins. And the bankrupt exchange Mt. Gox is distributing 140,000 bitcoins, many of which will be sold immediately.
The situation resembles an apocalypse. But that’s not all. Since January, Grayscale has sold hundreds of thousands of BTC. And after the halving, miners have reduced their reserves by tens of thousands of bitcoins.
It might seem like this will go on forever. One BTC seller leaves the market, then another appears. And so on indefinitely.
However, this is not the case. Why is Bitcoin falling so quickly now? The reason is that supply exceeds demand. Sellers are sending a huge amount of BTC to exchanges every day.
But why is this amount so large?
This is the main question that few people think about! And the answer is very simple. Such a large amount of BTC is hitting the market for one reason only. The fact is, they were bought years and decades ago at prices far, tenfold, and even hundredfold cheaper than the current price.
This is why the governments of Germany and the U.S. were able to confiscate tens of thousands of BTC from hackers. This is why the Mt. Gox exchange had 140,000 BTC in its accounts at the time of its bankruptcy, and so on.
But that's all!
Now, the last large reserves of bitcoins bought at low prices are being emptied.
Are there chances that some hacker will steal, say, 20,000 BTC from some exchange? The chances are extremely slim. Physically, there are no hot wallets with such a volume of BTC. Of course, he can steal 10, 50, 100, etc., bitcoins. But that is already too little to influence the price.
We do not realize that we are at a historical juncture, where the last large reserves of BTC, with a low cost basis, are being sold.
Large BTC buyers understand this perfectly. Within a year, it will be impossible to find 100,000 BTC on the market without significantly affecting the price.
Therefore, no matter how scary it may be for long-term Bitcoin holders right now, they should not panic. It doesn’t matter how much BTC will cost at market close today or in a few days. What matters is that “cheap bitcoins,” in volumes of tens of thousands of BTC, are becoming increasingly scarce.
Bitcoin has been significantly dropping over the past three days. As usual, altcoins are declining even faster.
The reason for the drop is well-known. The German government is currently selling (if possible) 30,000 bitcoins. The U.S. government is selling hundreds of bitcoins. And the bankrupt exchange Mt. Gox is distributing 140,000 bitcoins, many of which will be sold immediately.
The situation resembles an apocalypse. But that’s not all. Since January, Grayscale has sold hundreds of thousands of BTC. And after the halving, miners have reduced their reserves by tens of thousands of bitcoins.
It might seem like this will go on forever. One BTC seller leaves the market, then another appears. And so on indefinitely.
However, this is not the case. Why is Bitcoin falling so quickly now? The reason is that supply exceeds demand. Sellers are sending a huge amount of BTC to exchanges every day.
But why is this amount so large?
This is the main question that few people think about! And the answer is very simple. Such a large amount of BTC is hitting the market for one reason only. The fact is, they were bought years and decades ago at prices far, tenfold, and even hundredfold cheaper than the current price.
This is why the governments of Germany and the U.S. were able to confiscate tens of thousands of BTC from hackers. This is why the Mt. Gox exchange had 140,000 BTC in its accounts at the time of its bankruptcy, and so on.
But that's all!
Now, the last large reserves of bitcoins bought at low prices are being emptied.
Are there chances that some hacker will steal, say, 20,000 BTC from some exchange? The chances are extremely slim. Physically, there are no hot wallets with such a volume of BTC. Of course, he can steal 10, 50, 100, etc., bitcoins. But that is already too little to influence the price.
We do not realize that we are at a historical juncture, where the last large reserves of BTC, with a low cost basis, are being sold.
Large BTC buyers understand this perfectly. Within a year, it will be impossible to find 100,000 BTC on the market without significantly affecting the price.
Therefore, no matter how scary it may be for long-term Bitcoin holders right now, they should not panic. It doesn’t matter how much BTC will cost at market close today or in a few days. What matters is that “cheap bitcoins,” in volumes of tens of thousands of BTC, are becoming increasingly scarce.
US Consumer Inflation CPI (May)
m/m = -0.1% (expected +0.1% / previous +0.0%)
y/y = +3.% (expected +3.1% / previous +3.3%)
The chart shows the market's initial reaction to the news
All charts on one tab
https://cryptotradinglab.com/screener/binance/spot?q=USDT&m=chrt%)
m/m = -0.1% (expected +0.1% / previous +0.0%)
y/y = +3.% (expected +3.1% / previous +3.3%)
The chart shows the market's initial reaction to the news
All charts on one tab
https://cryptotradinglab.com/screener/binance/spot?q=USDT&m=chrt%)