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The Euphoria phase (NUPL>0.5) has lasted 7 months in this bull market. Corrections are common, offering insights into investor sentiment. We've analyzed two conditions:
1. Relative Unrealized Profit 🟢 > 0.5, indicating widespread gains.
2. Relative Unrealized Loss 🔴 > 0.01, showing significant pressure on investors during corrections.
As illustrated in the charts below, such correction events are common in all bull markets. Since reaching the ATH at $73.1k, this pattern has occurred in three separate retracements to the ~$60k zone.
#BTC tapped in and perfectly reversed from the support. Well, market is still not clear but chart shows a market structure shift in price. So, expecting the price to reach out the other end which is at resistance area $64,800 - $65,000.
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In this bull market, US Spot ETF momentum has notably impacted price action, as seen through the Net Unrealized Profit & Loss (NUPL) metric. NUPL measures net paper profits (or losses) normalized by market cap.
When NUPL exceeds 0.5, it signals the Euphoria phase of a bull market. In the current cycle, NUPL surpassed 0.5 about 6.5 months before the halving, compared to 8.5 months in the 2020-21 cycle. This shift underscores the ETF's role in accelerating price action by introducing significant demand into the market.
#BTC.D again made a flip to the upside, and we already got some signals that market could fall again. Well, Index is very choppy at the moment and bounced from the trendline made its way to the upside. Its better to wait for it to flip again.
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Here's the Analysis of #ALT :
#ALT broken the major level around $0.349 - $0.360, which will work as the major resistance area. Market is again look bearish at the moment, so price expected to reach the support around $0.29 - $0.30, where buys can be take along with the market conditions.
#GAL bounced form the support zone around 8% in profits but due to market conditions, price dipped ack to the zone and now approaching towards the trendline. A bounce is expected through the zone, and in case previous positions are still opened, use stops below previous swing low.`
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Notice of Removal of Spot Trading Pairs - 2024-05-10
https://www.binance.com/en/support/announcement/04be5fb46fe84e2eadc01fbc2c445cfa
What Is a Gray Swan Event?
A Gray Swan event is a term used to describe a foreseeable but unlikely and impactful occurrence that falls between a Black Swan event (unpredictable, rare, and highly impactful) and a White Swan event (common and expected). Gray Swan events are events that are not entirely unexpected but are not considered probable or mainstream.
Example of a Gray Swan Event:
Financial Crisis of 2008:
The global financial crisis of 2008 serves as an example of a Gray Swan event. While there were warning signs and concerns about the stability of the financial system, many considered a widespread collapse unlikely. The complexity of financial instruments and interconnectedness of global markets contributed to the crisis, which had significant and unforeseen consequences.
In this case, the elements leading to the crisis were not entirely hidden, but the severity and global impact were underestimated. The financial crisis is often referred to as a Gray Swan event because, in hindsight, some aspects were foreseeable, yet the extent of the crisis caught many by surprise.
NAS100 Analysis :
NAS100 is been made a flip above the strong flip zone around around 17800 and tends to rising up, There's no clean price action of the left as the market goes on consolidation for long. The price is expected to reach out the next Strong Resistance Area of 18,300. In between m price is bullish, so LTF will potential buys.
Here's the Analysis of #TRX :
#TRX is been rejected from the build-up resistance area around $0.122. Price already facing strong sells, from major resistance area of $0.120 - $0.122 and candle close will show some bearishness in the price. Well, market turning bullish, so a fakeout is expected with that. Also, its a Inverse Head and Shoulder forming so eyes on breakout.
The Realized Cap serves as a robust metric for gauging the accumulated capital within Bitcoin over time and allows for a comparison of liquidity growth denominated in USD across different market cycles.
According to this metric, a cumulative sum of $560 billion in USD value has been "stored" within Bitcoin. The Realized Cap has surged by 439% during the recent period, underscoring the current $1.4 trillion market capitalization of the asset. It's worth noting that despite Bitcoin's notorious volatility, negative publicity, and periodic downturns, the cryptocurrency continues to attract capital inflows.
#BTC made it way up and travelled a a decent direction towards the resistance area around $65,000 mark. Price now moving in a bit corrective way, might be due to new week start and session change. Expected a good move by NewYork Open and this week we'll some good move to the upside.
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#BTC.D flipped the area to the upside again 👀
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#BOND strongly rejected from the support and hit the 1st target easily, around $12.91% in profits. The calls were given in perfect time with dip and now going well. Book the profits and stay tuned for further signals.
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#ETH UPDATE :
#ETH approaching towards the resistance and in the higher TF (Daily TF), we can see falling wedge pattern forming, where breakout is still pending. Well, the price looks kinda consolidating alot, and a good sign too. A breakout will the market in the all-season, so eyes on the breakout and #BTC.D too.
#GOLD Analysis :
#GOLD is been riding up with the Symmetrical Pattern Break and hits the Strong Resistance Area of $2,358 - $2,363. Well, if price gives a flip above the resistance then it will open up room for the next leg up there at resistance around $2,400. Rejection must come with in Daily TF, so looks bearishness in price.
Here's the Analysis of #WLD :
#WLD is been rejected hard from the Strong Resistance Area of $6.37 - $6.42 and missed from the a key level of support around $5.12 - $5.17. Price strongly looks bearish at the moment, its better tot wait for the price to tap into the support zone for potential buys or buy continuation will come after the market structure shift.
What's is #NUPL (Net Unrealized Profit/Loss) ?
NUPL (Net Unrealized Profit/Loss) looks at the difference between Unrealized Profit and Unrealized Loss to determine whether the network as a whole is currently in a state of profit or loss. Net Unrealized Profit and Loss (#NUPL) is the difference between market cap and realized cap divided by market cap.
Assuming that the latest #coin movement is the result of a purchase, #NUPL indicates the total amount of profit/loss in all the coins represented as a ratio.
It could be interpreted as the #ratio of investors who are in profit.
To make it Simpler for you, Any Values over '0' indicate investors are in #profit and an increasing trend in value means more #investors are beginning to be in #profit.
This phase indicates the increasing reason to take #profit which leads to an increase in sell pressure.
#BTC going perfectly as planned, price made a dip down towards the support zone of $61,100 level and rejected very precisely too. Now, expected a good retracement from here and even a breakout to the upside. Plan your trades accordingly with the movement.
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If we inspect the breakdown of this metric by wallet sizes, we can complete a more detailed assessment. Here we see a distinct uptick in net outflows 🟥 across all cohorts throughout April, suggesting a consistent sell-side pressure across the board.
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Nothing much happened in #BTC and still moving in a small range. Price still made a lower low and expected a dip to $61,130 and lower. Its mid week now and you can expect some movement by the weekend as there might be a fundamental plays.
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Here's the Analysis of #SAGA :
#SAGA is been recently listed project on Binance, now having it correction. Price found out a support around $2.98 - $3.09 , where a potential bounce is expected. Wait for a strong sign for buys till the next resistance area of $4.44 - $4.60.
Bitcoin hovers in the mid-$60k range after hitting $73k in mid-March. We'll explore investor behavior during this consolidation, analyzing accumulation patterns post-FTX crash.
In both the 2020-21 and 2023-24 bull runs, we observe distribution phases during price contractions. Sell pressure rises as dormant supply enters to meet demand. The recent ATH saw intensified distribution amid Middle East conflict news, leading to a correction to $60.3k.
#BTC tap into the resistance are after floating for a while, and rejected. With that rejection, a structural shifts came in. Potentially, now a correction will come back to $62,000 and $61,100. This week, will be good as per the weekly expectation, so let see how it performs.
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What Is Honey Miner?
Honeyminer is a cryptocurrency mining application that allows users to mine various cryptocurrencies using their personal computers. It aims to make cryptocurrency mining more accessible to individuals who may not have specialized hardware or extensive technical knowledge. Here are key aspects of Honeyminer:
1. User-Friendly Mining:
- Honeyminer is designed to be user-friendly, allowing individuals to start mining cryptocurrencies without the need for in-depth technical expertise. The platform aims to simplify the mining process for beginners.
2. Mining Multiple Cryptocurrencies:
- Honeyminer supports the mining of various cryptocurrencies, including but not limited to Bitcoin (BTC), Ethereum (ETH), and others. The software automatically selects the most profitable cryptocurrencies to mine based on the user's hardware and market conditions.
3. Smart Mining Algorithm:
- The platform employs a smart mining algorithm that dynamically adjusts the mining strategy based on factors such as hardware capabilities, electricity costs, and current market prices. This is aimed at maximizing the profitability of the mining operation.
4. Mining Pool Integration:
- Honeyminer operates as a mining pool, where users contribute their computational power collectively to mine blocks and receive rewards. Mining pools increase the chances of earning consistent rewards compared to solo mining.
5. Simple Setup:
- Users can download and install the Honeyminer software on their personal computers with relative ease. The platform is designed to streamline the setup process, making it accessible to a broader audience.
6. Profitability and Earnings:
- Honeyminer provides users with insights into their mining profitability and potential earnings. Users can monitor their mining performance through the platform's interface.
7. Withdrawal Options:
- Users can withdraw their mined cryptocurrency earnings directly from the Honeyminer platform. The platform typically supports various withdrawal options, allowing users to transfer their earnings to external wallets or exchanges.
8. Security Measures:
- Honeyminer incorporates security measures to protect users' accounts and mined assets. This includes encryption and other security protocols to safeguard sensitive information.
It's important to note that while Honeyminer aims to simplify the mining process, cryptocurrency mining involves considerations such as electricity costs, hardware efficiency, and market conditions. Users should carefully assess these factors and the terms of service provided by Honeyminer before engaging in mining activities.
As the cryptocurrency landscape evolves, platforms like Honeyminer contribute to the accessibility of mining for individuals interested in participating in blockchain networks and earning cryptocurrencies through their computing power.
#US30 UPDATE :
#US30 made a 2nd retest and finally broke through the resistance area and now expecting a retest back to the zone before moving up. The Next is at the resistance area is at 39,000 - 39,150. So, take the setups in LTF with the directional bias.
EDUCATIONAL POST
Exploring Uniswap and PancakeSwap: A Beginner's Guide
#BOND in #BTC also jumped near the 1st target and made a high nearly around 12% in profits... 🚀🚀🚀
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#KEY just in the few hours of push and made it 1st target of $0.07549, which is around 12.84% in profits. Its time to secure some profits right here and hold the rest to further targets.
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Miner revenues are similarly seeing a diminishing growth rate when denominated in USD, but a net expansion in absolute size. Cumulative miner revenue topped a staggering $3B over the past four years, increasing by an order of magnitude over the prior Epoch.
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