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#Bitcoin Futures markets have shown relatively stable open interest, maintaining a consistent value of $12.1 #Billion in the past month. These figures resemble the levels observed during the latter part of 2022 when prices were around 30% lower than the current levels, even during the period when the #FTX exchange was operational. This situation is reminiscent of the scenario seen during the January 2021 price surge, where prices were 30% higher, the market was less developed, and leveraged speculation was just starting to gain momentum.
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#BITCOIN WEEKLY UPDATE :
#BITCOIN did as we anticipated, price goes all the way up to retest and rejected from the mentioned levels ($30,000 mark). Well, Weekly candle might close bullish today, but that doesn't means, an continuation. Bearish scenario is still highly probable in play.
What is Circulating Supply ?
The term circulating supply refers to the number of cryptocurrency coins or tokens that are publicly available and circulating in the market.
The circulating supply of a cryptocurrency can increase or decrease over time. For example, the circulating supply of Bitcoin will gradually increase until the max supply of 21 million coins is reached. Such a gradual increase is related to the process of mining that generates new coins every 10 minutes, on average.
The circulating supply refers to the coins that are accessible to the public and should not be confused with the total supply or max supply. The total supply is used to quantify the number of coins in existence, i.e., the number of coins that were already issued minus the coins that were burned. The total supply is basically the sum of the circulating supply and the coins that are locked up in escrow. On the other hand, the max supply quantifies the maximum amount of coins that will ever exist, including the coins that will be mined or made available in the future.
Moreover, the circulating supply of a cryptocurrency can be used for calculating its market capitalization, which is generated by multiplying the current market price with the number of coins in circulation. So if a certain cryptocurrency has a circulating supply of 1,000,000 coins, which are being traded at $5.00 each, the market cap would be equal to $5,000,000.
#ETH UPDATE :
#ETH took a strong rejection over the strong support zone and moved above the downtrend line. Price is been trying to hodl above it and kinda going correctively. Well, it could be a Buy wall and price might push up. Just for the price to break either side
#BTC futures volume back to October 2020 levels :-)
What DO You Think, we're Ready to move Up ?
Nothing much happened from yesterday and taking support on the top of the support zone. Well, volume is pretty much dead still, have to wait for the momentum to kick-in.
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What is Capitulation ?
Capitulation in financial markets refers to a point of extreme pessimism and panic selling by investors, often leading to a significant and rapid decline in asset prices. It occurs when investors, overwhelmed by fear and uncertainty, rush to sell their holdings at any price to avoid further losses. Capitulation is often marked by a sharp and dramatic drop in market indices or the price of a specific asset.
During capitulation, investor sentiment reaches a nadir, and there is a sense of desperation and hopelessness in the market. This selling frenzy can lead to a cascading effect, where falling prices trigger more selling, creating a vicious cycle of downward pressure.
Capitulation is often seen as a potential turning point in markets. After a period of capitulation, some investors who have been waiting on the sidelines may perceive that prices have fallen to attractive levels, leading to a rebound in prices as buying activity begins to outweigh selling. This rebound is sometimes referred to as a "dead cat bounce," where prices temporarily recover after a steep decline.
Capitulation can be an emotional reaction driven by fear and panic rather than rational analysis of market fundamentals. It's important for investors to maintain a long-term perspective and avoid making impulsive decisions based solely on short-term market fluctuations.
#BCH gave a breakout but not strong enough to go, well, for confirmation we should wait for the closing above the $240 mark as resistance. Another case can be this will turned into a fakeout and move lower.
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Here's the Analysis of #MKR :
#MKR is been nearly rejected from the strong resistance zone of $1372 - $1393 and shifted the market structure to bearish. Also, price breaks uptrend channel pattern and might continue pushing lower. We can have shorting opportunities above $1250 and $1280 with low risk.
From Dec 2022 to Jan 2023, the bottom of Bitcoin was marked as the Ribbon reached its conditionally upper point and gradually turned from top to bottom.
In Feb 2023, a rapid decline in the Ribbon began, signaling a steady development of the bullish trend.
#BTC gave a breakout of the small consolidation range and made a rejection again. Well, we might see a continue pushing lower or a flip above the area will open room for #31,000 mark.
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What is Bid-Ask Spread ?
Bid-Ask Spread refers to the difference between the highest price that a buyer is willing to pay (bid) for a particular asset and the lowest price that a seller is willing to accept (ask) for the same asset. In other words, it represents the gap between the highest price a buyer is willing to pay and the lowest price a seller is willing to accept at a given point in time and the difference between Bid and Ask is Called Spread.
The bid price is the maximum price a buyer is willing to pay for an asset, while the ask price is the minimum price a seller is willing to accept to sell the asset. The bid-ask spread reflects the market's liquidity and provides an insight into the supply and demand dynamics for a particular asset.
A narrow bid-ask spread usually indicates a liquid market with high trading activity, as there is little difference between the prices buyers are willing to pay and sellers are willing to accept. Conversely, a wide bid-ask spread suggests lower liquidity and potentially higher transaction costs, as buyers and sellers are not in agreement on the price.
#FIO in #USDT pair also performed the same and made a high of 83 satoshi which is 13.7% in profits. I hope you're enjoying our free signals.
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#BTC still consolidation, not a good movement. Price taking a pullback back to the top of the range and reject. It's waiting time as volume id dead and too much indecision in the market.
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#PayPal launches #stablecoin on #Ethereum, citing 'shift toward digital currencies'
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#BCH going as Expected, price made a fakeout, as it already seems not strong enough and moving lower. Now, price will reach out the support zone of $212 - $218, and expecting a reaction from there. You can scalp that move but it won't last longer, So, $232 level will be area for potential shorts.
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Here's the Analysis of #APE :
#APE flipped above the structural zone of $1.945 - $1.96 and made the support around at $1.73 - $1.78. Right now, Price need to break above the downtrend resistance line, which will push the price up. So, wait for the breakout or a rejection to happen.
There is a stop-hunting candle on a 4-hour timeframe. Although #BTC remains silent and no sign of an apparent movement yet. Things will change when the volume gets back. Just wait for a big move that will decide the direction.
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What is Censorship-Resistance ?
Censorship-resistance is a characteristic of certain technologies or systems, particularly in the context of digital assets like cryptocurrencies and blockchain technology. It refers to the ability of a system to operate and function without being easily controlled, censored, or manipulated by any single entity, government, or authority.
In the realm of cryptocurrencies and blockchain, censorship-resistance means that transactions, data, and information recorded on the blockchain are immutable and resistant to tampering or alteration. This is achieved through the decentralized and distributed nature of blockchain networks, where transactions are verified and recorded by a network of participants (nodes) rather than a central authority.
Censorship-resistance is important for several reasons:
1. Decentralization: Censorship-resistant systems are typically decentralized, meaning that no single entity has full control over the network. This prevents any individual or group from exerting undue influence or control.
2. Freedom of Expression: In a censorship-resistant system, individuals can transact and communicate freely without fear of their actions being blocked or censored by external parties. This is particularly relevant in regions with restricted access to information or financial services.
3. Trust: Censorship-resistance enhances trust in the system, as participants can rely on the integrity of the blockchain's history. Transactions and data are transparently recorded and cannot be easily altered after the fact.
4. Resilience: Censorship-resistant systems are more resilient to external attacks, censorship attempts, or shutdowns. The distributed nature of the network makes it difficult for a single point of failure to disrupt the entire system.
5. Security: The immutability of transactions and data on a blockchain ensures that once information is recorded, it cannot be erased or modified without consensus from the network.
Overall, censorship-resistance is a fundamental principle in the design of blockchain and cryptocurrency systems, enabling secure and open transactions and interactions that are not easily controlled or manipulated by external forces.
#DXY (Dollar Index) Analysis :
#DXY made a lower low and flipped above the major level for the deeper retest. Anticipating a rejection nearby structural resistance around 102.93%, which as added Trendline confluence. In case of rejection may flip above the $30,000 mark. Alternatively, if it continues flies then a harsh dump is expected in the market.
Here's the Analysis of #CELR :
#CELR is been consolidating in the range between the Strong Support Zone of $0.01373 - $0.0139 and Resistance zone of $0.0146 - $0.0148. Price broke the downtrend line but still in a range. Either you can trade this range or wait for a healthy breakout for any sort of setup.
Greed and Fear Index is Neutral throughout the past 2 weeks and still the same. Now, its says market is more prone to very indecisive.
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#BTC still getting rejected multiple times from the Strong Resistance zone and tested the consolidation top as support. Still nothing is confirmed, have to wait for it and check for a breakout either side.
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What is Black Swan Event ?
A Black Swan event refers to an extremely rare, unexpected, and highly impactful occurrence that has significant consequences, often beyond what is normally anticipated or predicted by historical data and models. The term "Black Swan" was popularized by author Nassim Nicholas Taleb in his book "The Black Swan: The Impact of the Highly Improbable."
In the context of finance and economics, a Black Swan event typically involves an event or series of events that cause severe disruptions to financial markets, economies, and societal systems. These events are characterized by their unpredictability and the substantial impact they have on various aspects of society.
Black Swan events can include financial market crashes, economic recessions, geopolitical crises, natural disasters, and technological failures. These events are challenging to foresee because they are outside the realm of regular expectations and often challenge conventional wisdom and established theories.
The concept of a Black Swan event highlights the limitations of traditional risk assessment models, as they often fail to account for such extreme and unforeseen occurrences. These events serve as a reminder that the world is inherently uncertain and that preparing for and managing the impact of rare, unpredictable events is crucial for individuals, businesses, and governments.
#TOTAL2 (Altcoin Market Cap Analysis) :
#TOTAL2 is been trending lower after rejection from the strong Resistance Zone of $608B - $616B. Looking into to the Daily Structure, its bullish but its nearby the bottom of the zone, where if it broke below $542B mark then overall altcoin can push lower else we'll consolidation likewise
Here's the Analysis of #ATOM :
#ATOM is been rejected from the strong resistance level of $10.00 - $10.20 and slides below the major support zone of $8.59 - $8.79 and might go lower after testing it as resistance. Wait for the confirmation candle or strong resistance to form for shorting opportunities.
#COMP playing smooth and nearly reached out the Take Profit Area and in been running around 12.14% in profits. You can secure some here or full secure at support with Breakeven stops
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#FIO pushed higher in a a a short span of time and exactly hits our 1st target and made profits around 13.45%. I hope You Secured Some Profits over there.
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Here's the Analysis of #BCH :
#BCH is been trending below the strong Resistance area of $267 - $277 and made a falling wedge pattern. Well, Price also, precisely tapped the support zone of $212 - $219 and might breakout of the pattern. As of now, we can only wait to see a breakout either side.
What is BEP-95 ?
BEP-95 is a Binance Evolution Proposal that introduces a real-time burning mechanism to BNB Smart Chain (BSC). It’s been introduced to make BNB’s tokenomics even more dynamic and further decentralize the network.
With BEP-95, the network will burn a fixed ratio of each block’s gas fees that validators collect. The exact ratio will be determined via BSC’s governance mechanisms. The burns will take place even after BSC has reached its target goal of 100 million BNB. By reducing the supply of BNB, upwards pressure is placed on the coin’s price. The BEP may also decrease the amount of BNB delegators and validators received. However, with upward price pressure, the fiat value could also increase, offsetting any reduction in coins.
To technically implement this, the network collects each block’s gas fees and splits between two smart contracts:
1. System Reward Contract. 1/16 of gas fees will enter the System Reward Contract until it reaches a maximum of 100 BNB. These coins will be used as cross-chain package subsidies.
2. ValidatorSet Contract. All other gas fees will enter the ValidatorSet Contract and be shared daily with delegators and validators via BNB Beacon Chain.
To conduct a burn, the ValidatorSet Contract has a burnRatio variable. Upon finalizing each block, a validator will sign a transaction transferring its gas fees to the smart contracts. The deposit function contains burning logic that triggers the simple formula: burnRatio * gasFee. This sum will then be transferred to the burn address. The burnRatio will initially be set at 10%.
BSC Validators will be able to vote via proposals to change the burnRatio amount. This governance mechanism occurs on BNB Beacon Chain, and any community member can submit a proposal for review with a minimum deposit of 2,000 BNB. All BNB staked behind a proposal and in a vote is returned after a decision has been made. Quorum is reached at 50%, and the change will be implemented via cross-chain communication immediately.