The US will release June CPI and PPI this week. Fed Chairman Powell will deliver his semi-annual monetary policy testimony to the House Financial Services Committee. The probability of a 25bps first rate cut in November is currently 50%.
Читать полностью…$BTC Spot sellers popping right at the weekend close, New lows incoming?
The past couple of weekends, we saw #Bitcoin push higher, this could trap Bulls.
CryptoQuant CEO Ki Young Ju: Government Bitcoin selling is overestimated. $224B has flowed into this market since 2023. Government-seized BTC contributes about $9B to the realized cap. It's only 4% of the total cumulative realized value since 2023. The realized cap represents the total capital that has entered the market.
Читать полностью…According to Arkham, at 12:19 UTC+8, Mt. Gox: 1JbezD...KLAPs6 transferred 1,157.1 BTC (about 63.57 million USD) to the new address: bc1qkjc...2ug68h, and 1,544.67 BTC (about 84.87 million USD) was transferred to the Bitbank hot wallet via 1PKGGM...iszwzV.
Читать полностью…All these shorts (OI) have to exit some point. Will see a relief rally then, Don't mistake it to be demand. Let $BTC form a range and keep eye on order flow.
Читать полностью…BTC HTF Analysis Update
The support band (62.6k - 62k) didn't hold on re-test and $BTC sold off. We at MW family took the timely short.
Goxbtc release is still worrying the markets and Powell made it clear on live that the Fed is not in a hurry to cut rates (Disinflation + strong labor market). Hence, there is no bull case or narrative today for Bitcoin to see the highs. July could see the lows at $55k.
MW
Bitcoin spot ETFs had a total net outflow of $13.6167 million on July 2, the first net outflow after net inflows in the past 5 days. Grayscale ETF GBTC had a single-day outflow of $32.3779 million, BlackRock ETF IBIT had a single-day inflow of $14.1154 million, and Fidelity ETF FBTC had a single-day inflow of $5.4189 million.
Читать полностью…Be greedy when blood is on the street. #Bitcoin is at a pivotal point where it could reverse and fly.
Spot bidding here 👀
MW
Jerome Powell is live. Still taking hawkish stance, No change about rate cuts. Meanwhile JOLTS Job Openings came in higher than consensus, means strong labour market.
Disinflation + strong labour market = No reason to cut rates.
Until Fed change its stance on rate cuts, no super cycle.
MW
BTC HTF Analysis
BTC sell in may and go away narrative played out well - Broke down from 70k to sub 60k.
Most of the time this happens, July is a positive month. Coinciding the hypo BTC broke away from the downtrend and currently retesting the support band (62.6k - 62k) if it holds it's likely BTC will traverse up by 9-10%, potentially seeing 70k by this month or early August. If the support band doesn't hold, likely to see 55k. Seller exhaustion is evident at this level, if spot bid flows into the market - the short squeeze with spot demand - is the perfect recipe for Upside. Our eyes are glued to order flow to catch long or short based on the reaction at support band.
NEW: 🇩🇪 Bitcoin continues to flow out of German government wallets, even on weekends 👀
They did not buy back Bitcoin yesterday; instead, not all their sell orders were filled, so the unsold Bitcoin was returned to their account.
🇩🇪 JUST IN: German gov’t transfers another $52M Bitcoin, threatening more $BTC selling pressure.
Читать полностью…Bitcoin spot ETFs had a total net inflow of $129 million on July 1, continuing a net inflow for 5 consecutive days. Fidelity ETF FBTC had a single-day inflow of $65.034 million, and Bitwise ETF BITB had a single-day inflow of $41.4022 million.
Читать полностью…Silvergate Bank being sued by SEC, its role in FTX and lack of lack of compliance with crypto-related dealings cited
Читать полностью…A whale who participated in the Ethereum ICO in 2015 and received 254,900 ETH (ICO price $0.311) transferred 7,000 ETH ($24.28M) to Kraken today after 209 days of silence. Currently, this whale still holds 40,000 ETH ($139.5M)
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