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In a market where potential gains remain largely untapped, it's crucial to assess how participants are reacting. To do this effectively, we can utilize various SOPR metrics, which gauge the average extent of realized profit or loss within different groups.
🟠 Market Average SOPR: 1.13 (indicating a profit increase of 13%)
🔵 Long-Term Holder-SOPR: 2.07 (showing a substantial profit surge of 107%)
🔴 Short-Term Holder-SOPR: 1.02 (reflecting a modest profit uptick of 2%)
Currently, all participant groups are capitalizing on significant realized profits, a trend commonly seen in a bullish market (highlighted in 🟧). Additionally, we've identified periods where all three SOPR variants surpass their previous values (marked in 🟥). These occurrences coincide with the peak euphoria stages of both the 2017 and 2021 bull markets, mirroring insights from MVRV analysis.
#BITCOIN WEEKLY TF UPDATE :
#BITCOIN made a small retracements and consolidated with closing. Price made a large weekly candle and made a 25% in push to the upside. Price Tapped into a good Resistance Area, and price is near its All time High. Halving is near, and we'll a ton on volatility upcoming weeks. Market will anyways move good, so alts will create opportunity for buys.
Hold onto your seats! #WAN massive pump is programmed 🚀🚀
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Buying #WAN on Binance
Link : https://www.binance.com/en/trade/WAN_USDT
Expecting quick 10%-30% gains in short term😊
The profitability of Bitcoin investors has improved markedly, with the average investor now holding an unrealized profit of +120% per coin.
The MVRV Ratio allows us to measure this, with values of this magnitude often seen during the early innings of prior bull markets. Around 1126-of-4965 trading days (22.7%) have seen #MVRV record a larger unrealized profit. The air above the market is certainly getting thinner, but it is by no means uncharted.
#BITCOIN DAILY TF UPDATE :
#BITCOIN made a aggressive push we all saw and break the $60,000 resistance, which is the physiological level too. Now, price is sustaining above the zone, which shows buyers confidence. A retest back to zone will be healthy before going any upmove and LTF stared ranging which is obvious .
Momentum VS Volatility
#Momentum and #Volatility are two important concepts in trading that often go hand-in-hand but some traders, misunderstood #Momentum and #Volatility as same in the market.
#Momentum refers to the rate of increase or decrease in the price of a coin, and is often used to identify trends in the market. A momentum trading strategy typically involves buying coin that have been rising in price and selling those that have been declining.
#Volatility, on the other hand, refers to the degree of fluctuation in the price of a coin over a given period of time. A security with high volatility is more likely to experience sudden, large price movements, both up and down. A volatility trading strategy might involve buying options contracts to profit from large price movements in either direction.
It's important to note that both #momentum and #volatility can be impacted by a variety of market factors, such as #economic news, changes in interest rates, and geopolitical events.
#TOTAL MARKETCAP UPDATE :
#TOTAL Marketcap moved as anticipated, Market continues to drive towards the $2.12T Resistance Mark, which leads in alts rally already. Now the level has been broken and a new Range is open till next Resistance area of $2.40T - $2.44T. Alts can lead in another significant move to the upside after the corrections.
#BTC doesn't moved alot after the bullish impulsive move and looks like volatility is settled down for a while. Now, price broke the 4H Bullish Market Structure and Hourly too, which might lead in short-term correction. Price is expected to test the support around $58,200 - $59,550 before moving in an any up calls.
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#DEGO made its push with the market condition and meet the 1st target of $2.71. Price Made a High of $2.834, which is 15.96% profits. I hope you enjoyed the quick move with the time.
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the current state of funding rates reaching excessively bullish market levels serves as a critical indicator of market sentiment among derivatives traders. As these rates reflect the cost of maintaining open purchase contracts, their positivity signals heightened interest in price appreciation, potentially leading to increased volatility in the short term.
However, it's important to exercise caution and not rely solely on this indicator, as past bull markets have seen funding rates exceed 0.15, whereas the current rate stands at 0.04. Analysis of spot demand will be crucial moving forward, as sustained demand could drive funding rates even higher before a price correction scenario emerges.
#BLUR made a sharp drop with the market and gave a strong up move or we can say a rejection. Price moved 14% in profits and its good time to secure some right here. More push can come, so monitor the movement closely
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Liquidation Hits more than $700+M in past 24H :->
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#BTC did some crazy and wild action in the short span of time in the market. That’s why you should always wait for the setup and don’t run in #FOMO jumping in and Out.
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#KSM moved with plan and broke the resistance area too, and made a high of 55.60 High which is nearly 18% in profits. Currently, price retesting the support zone and stop hunted the previous lows too, so entering new buys will be good enough from here.
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Here's the Analysis of #COTI :
#COTI majorly pushed towards the Major Resistance Zone of $0.263 0- $0.283 and started ranging below it. Price is very corrective and making Triangle Pattern, which just gave a breakout. A small retest for a buys will be good as the range is enough for a swing move, targeting Major Resistance.
#WAN/USDT BUY/LONG CALL
Lying above strong support. RSI is showing a bullish divergence. EMA'S are acting as solid support. Stochastic is giving a buying signal. Expecting a big upward move from here.
Targets: $0.2939 - 0.40 - 0.50 - 0.60
Stop if 1D closes below $0.23
What is #MVRV Ratio ?
The #MVRV (Market Value to Realized Value) score is a metric used to assess the #valuation of a cryptocurrency by comparing its market value to its realized value. The #MVRV score helps to gauge whether a cryptocurrency is overvalued or undervalued based on its #historical price movement.
The market value of a #cryptocurrency refers to its current price multiplied by the total supply of #coins in circulation. On the other hand, the realized value takes into account the price at which each coin last moved on the #blockchain, essentially measuring the average price at which investors acquired their holdings.
So what does that Indicate ?
#MVRV Values > 3.5 has generally served as a strong signal for late stage #bull cycles, and heightened probability of heavy #distribution or simple indicate a potential Market Top.
#MVRV Vales < 1.0: indicates that a large cross-section of the #supply is near break-even, or held at a loss. These low values have typically provided strong signal of market capitulation and late stage #bear accumulations or Simply Indicate the Market Bottom.
#VET goes as per our plan, with a drop back to the support but market sustain above the zone as due to bullish market structure. Price made a move to the upside, around 7.7% in favor, and broken the structural high too. Hodl the trade till the major high around $0.054.
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Here's the Analysis of #DOGE :
#DOGE is been heavily bullish at the market, making strong moves with momentum. Price nearly reached a resistance area (not significant) around $0.142. If this moves continues then major resistance is next key area around $0.158 - $0.165. Right now, wait for the setup to form as it middle of nowhere or H4 makes new Support to enter from.
#Bitcoin Supply in Profits Hits 25 Month High (2 Years High) and Its very near to its #ATH Level 🚀🚀🚀
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Wallet Maintenance for Ethereum Network (ETH) - 2024-03-06
https://www.binance.com/en/support/announcement/6b2a85214252429db1d83400029587b6
Here's the Analysis of #VET :
#VET is been kept on hodling the support zone of $0.043 - $0.044 and recently rejected with the drop in the market. Price now making the Head & Shoulder, which might reverse the price. Anyways, market is bullish, so it might respect the support and buys are still valid from there, so take it accordingly.
#FIDa made its continue its push to the upside and made a high of $0.40 which is 23.11% in profits.
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24H Liquidation Hits Out $800M+. In this there's both side market played out, liquidating longs too which entered in #FOMO.
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#BTC is been made a bullish sentiments in the market. Price made a break below of the resistance zone and made a #YTD of $64,000 mark. We're almost at #ATH lets see how the price drives, and a retest back to support will be healthy in the market.
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Here's the Analysis of #XAI :
#XAI recently got listed in #Binance so there's not much data to analyze, but Price made a triangle breakout of the pattern and drop with the market down move with a crazy behavior. Price made a retest back to the and looking for potential higher high to print out. Still that will be risky are market os highly volatile, so go with smaller lots.
What is #DXY (Dollar Index) ?
The US Dollar Index (#DXY) is a measure of the value of the US dollar relative to a basket of six major foreign currencies. The index is designed to provide a snapshot of the US dollar's performance against a basket of other currencies that are considered to be its most significant #trading partners.
The #DXY is widely followed by currency traders, financial analysts, and investors, who use it as a benchmark for the value of the US dollar. The index is also used to hedge against currency risks and to evaluate the performance of international #investments.
Why #DXY is Important ??
It's worth noting that changes in the US Dollar Index can have a significant impact on the global financial markets, as a strong or weak US dollar can affect the prices of #Cryptocurrencies, #Commodities, #Equites, #DXY Bonds, and other financial instruments. A rising #DXY typically indicates that the US dollar is strengthening against other major currencies, while a falling #DXY suggests that the US dollar is weakening.
#ACE made a daily candle close with a clean retest back to the zone as support and made its push as expected. Trade moved around 10.2% in profits, and i hope you secured some right with it. Potential scale-in is possible but let the price action to develop more as move is very corrective.
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