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#BTC.D UPDATE :
#BTC.D played well, as per the analysis, with a breakout. Altcoins have a strong correction in the market right now, with that Index reached the recent highs too, again short-term correction will come, so, don't get into the early as it might be a trap.
Notice of Removal of Spot Trading Pairs - 2024-06-14
https://www.binance.com/en/support/announcement/cbc625e02b784e769eb0d59ac31d3e5a
📉 Bitcoin Market Alert 📉
Over $187 million in liquidations occurred in the past 24 hours as BTC experiences a significant dump. Stay cautious and watch the market closely! 🛑
#Bitcoin
Ethereum under a similar framework and can see the dramatic impact of the ETF approvals. The news motivated almost instantaneous buy-side pressure, with all three timeframes printing their first >20% price movement since late 2021.
If we consider the sizeable impact and influence that spot ETFs have had on Bitcoin since the turn of the year, the ETH/BTC trading pair may be exhibiting early signs of a more promising road ahead.
#GOLD UPDATE :
#GOLD moved back and forth with a dump now. Price is kinda retracing now and a new Lower low is expected. The next key area is around $2278 - $2284. Expecting a reaction from here but not hodling it.
Here's the Analysis of #FIL :
#FIL is been going around a build up support area and formed a symmetrical triangle pattern over it. Ton of rejections going on and have to look after a break as price will drive though it only, so eyes on it.
#US30 UPDATE :
#US30 moved perfectly with the drawn up chart and getting rejected too. Now, index reached a market structure point within the internal structure, so expected a continuation in drop here, by which support will be broken.
Here's the Analysis of #EDU :
#EDU swinging lower after breaking the support and a consolidation range. Well, price moving lower and might reach out the support area of $0.64 - $0.65. Buys gonna be risky and wait for the market strcutural shifting before entering.
What is URPD (UTXO Realized Price Distribution) ?
#URPD stands for UTXO Realized Price Distribution, to analyze the distribution of Bitcoin's realized prices based on the age of the UTXOs (Unspent Transaction Outputs) or in other words #UTXO Realized Price Distribution (URPD) shows at which prices the current set of Bitcoin UTXOs were created (i.e. each bar shows the amount of existing bitcoins that last moved within that specified price bucket). The price specified on the x-axis refers to the lower bound of that bucket.
The UTXO Realized Price Distribution helps to understand the average cost basis of Bitcoin holders based on when they acquired their coins. It divides the UTXOs into different age groups, such as those acquired within the last 30 days, 90 days, 180 days, and so on, and calculates the average price at which those coins were last moved.
This metric provides insights into the behavior of long-term holders (HODLers) and short-term traders. It allows analysts to determine the levels at which different cohorts of Bitcoin holders may be willing to sell their coins, as well as the potential price levels at which they acquired their holdings.
By analyzing the URPD, one can gain a deeper understanding of the distribution of Bitcoin's realized prices across various time frames and identify potential price points where significant buying or selling pressure may emerge.
#BITCOIN WEEKLY TF UPDATE :
#BITCOIN on Weekly TF, didn't gave a retest but moved straight upwards towards the Resistance drawn and rejected too. Price clearly don't aggressive moving now. Now, a potential retest at $66,000 will be the High Probable.
The chart assesses market volatility by measuring the percentage range between the highest and lowest price points over the last 60 days. Currently, volatility is compressing to levels typically seen after prolonged periods of consolidation. Historically, such low volatility levels often precede significant market moves, indicating that a large price movement may be imminent.
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#BITCOIN DAILY TF UPDATE :
#BITCOIN on Daily TF, still on a consolidation but instead kept on hodling the supporting up trendline. Price nearly at the resistance area which also getting rejections. Not expecting much from here, only a breakout can lead some strong moves, we gonna see some the consolidation continues.
We can see a large decline in the Sell-Side Risk Ratio over recent weeks, which suggests the market has found a degree of equilibrium over the course of this correction.
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#BTC took a bounce from the support drawn (red box) and attempting to break the Major Resistance again. With that, today is strong fundamental news, and with that a strong movement is expected, so better tighten the stops in any futures trade opened.
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What Is a Metatransaction?
A metatransaction is like having a helper who carries out a task for you. In this case, it's executing a transaction that someone else has signed on your behalf. Instead of you needing to send this transaction to the public blockchain, the helper does it for you. So, metatransactions simplify things and save you the cost of using gas on public blockchains. All you have to do is sign the transaction with a click.
Usually, when you make a transaction on a public ledger, you sign it yourself, and it goes into a waiting area called the mempool. Miners then include your signed transaction in the next block. During this process, you're the one paying the gas fees, which can be a hassle. Plus, you usually have to pay these fees using the native token of the blockchain, even if you're using a decentralized app (dApp) with its own token.
Metatransactions change this by allowing dApps to handle the gas fees and token payments for you. Instead of you paying the fees, the dApp or another third party does it for you. For instance, a dApp developer might cover the gas fees to attract more users. They can also decide whether users need to use their own token to pay for gas or if they'll cover the costs entirely. In either case, they use metatransactions to manage the transaction on the blockchain and pay the necessary fees. All you need to do is sign the transaction, and you might not have to pay any gas fees at all.
The main advantage of metatransactions is that they make using blockchain applications much easier for users. They shift the burden of dealing with gas fees and transactions from the users to the developers or infrastructure behind the scenes.
#BTC continues it drop and even goes below the zone, also price pin precisely rejected the key area and turning the break into the fakeout. Well, this could be a reversal but have to see the news upcoming in NY Open Time.
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#ETH UPDATE :
#ETH Broke out of the consolidation and given a successful close below. Daily candle closing shows bearishness in the market and alts gonna strongly fall like nothing after that. Fear is increasing in the market so better stay away from it.
What Is Scrypt?
Scrypt is a password-based key derivation function (PBKDF) that was originally proposed as an alternative to other key derivation functions like PBKDF2 and bcrypt. It is designed to be more secure against specific types of attacks, particularly those that leverage specialized hardware like Application-Specific Integrated Circuits (ASICs) and Graphics Processing Units (GPUs).
The main features and design goals of Scrypt are:
1. Memory-Hardness: Scrypt requires a large amount of memory to operate, making it resistant to attacks from custom hardware implementations like ASICs or GPUs, which have limited memory compared to their computational power.
2. Parallelization Resistance: Scrypt is designed to be inherently sequential, meaning that the computation cannot be easily parallelized, which limits the potential speedup from using multiple processing units or cores.
3. Key Stretching: Like other PBKDFs, Scrypt is used for key stretching, which involves deriving a long key from a short password or passphrase, making it more resistant to brute-force attacks.
Scrypt is used in various cryptocurrencies, including Litecoin, Dogecoin, and Verge, as the key derivation function for their proof-of-work (PoW) consensus algorithms. By using Scrypt, these cryptocurrencies aim to make their mining process more accessible to regular computers and resist the centralization of mining power that can occur with specialized hardware like ASICs.
While Scrypt was designed to be more secure against certain types of attacks, it is important to note that its security guarantees rely on the specific parameters used and the availability of sufficient memory resources. As computing power and hardware capabilities evolve, the effectiveness of Scrypt may need to be re-evaluated, and alternative memory-hard key derivation functions may be explored.
More than $170M cleared in past 24H and over $100M in past 12H 👀
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#BTC perfectly dip down as per prediction due to its corrective nature and now expected a retest of the flip level/ support nearby $67,500. Eye on the area, nothing to do in between.
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If we examine the rolling performance of the Bitcoin market across weekly 🟥, monthly 🟦 and quarterly 🟧 timeframes, we can see generally strong performance, recording values of +3.3%, +7.4%, and +25.6%, respectively.
To highlight periods of particularly strong price performance, we can count the number of trading days within a 90d window where performance across all three timeframes exceeds +20%. Only 5 days through the last quarter have reached this threshold so far.
In prior cycles, this count reached between 18 and 26-days, which suggests the current market may be somewhat more measured relative to historical bull markets.
#BTC Weekly candle closed somewhere in between and of the medium bullish one and a rejection too. #Bitcoin on hourly TF, looks like holding the support/flip area over the zone and move correctively. We can experience a dip again due to this nature.
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Using the URPD metric, we can gauge the density of coins around the current spot price to identify market sensitivity points. Notably, about 15.9% of the coin supply is just below the current price, indicating strong support. Conversely, only 1.1% of the supply is above the current price, suggesting that sustained demand could trigger significant price increases.
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#DXY UPDATE :
#DXY did gave break of the market structure and now make a deeper pullback. Price again taking a deeper retest back inside the resistance area, and with the Monday Market Open, we can see some strong moves with the market.
#ADA ANALYSIS :
#ADA kept on hodling the Major Support Zone of $0.41 - $0.42, and we can see price is just consolidating in range itself. We can again anticipate the rejection from the support which could be a potential buys opportunity of us.
#ALICE dropped hard with the market and reached the flip level around $1.64 and kinda rejecting the support area. An another retest can be done here towards the 50% of the wick, that's a risk move take it accordingly.
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#ETH UPDATE :
#ETH made a drop lower again and reached the support zone nearby $3600. We can see price kinda rejecting the zone and expected to reach out the other end of the zone around $3950. You can have the short trade with in this.
#LPT is did a successful break and retest of the flag pattern and made a push too. Price made a high of $25, which 13% - 16% in profits from the zone. Currently, price is getting a pullback before the next leg up.
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Here's the Analysis of #UNI :
#UNI kept on rejecting from the Strong Resistance area of $11.59 - $11.78. Price broke through the channel pattern and trend with bullish market structure. Expected a Bounce from the trendline, in anticipation of break of the resistance and new printing new Higher High.
The Liveliness metric also captures this change in market character, and indicates that the Bitcoin network is seeing a greater volume of coinday creation than destruction. In other words, the market is now expressing a greater preference for holding coins for longer periods of time, rather than actively distributing coins for a profit.
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