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🔥🔥 Futures on ETH: The roof, the roof, the roof is on fireBitcoin, Ethereum and most other cryptocurrencies fell on Tuesday 08-11-2022 following Binance's announcement of its intention to acquire FTX, heightening concerns about liquidity in the industry. According to TradingView, the Total Market Cap - the global value of the entire crypto sector was down 15% on the past day, reaching $813 billion. Bitcoin lost 12%, Ethereum lost 17.5% and Dogecoin lost 25%. The FTX token crashed 84% and Binance's BNB also reversed a sharp previous 17% gain and turned negative, falling 6%. “To protect users, we have signed a non-binding Letter of Intent, planning to fully acquire FTX.com and help manage the liquidity crisis,” Binance CEO Changpeng Zhao tweeted. Zhao added that the deal is pending confirmation of his firm's ability to conduct due diligence on the FTX purchase and the exchange itself. A liquidity crisis plagued the FTX exchange at the beginning of the week amid a sharp decline in FTX Token. A CoinDesk report last week suggested that FTX-owned Alameda Research's balance sheet is heavily dependent on FTT, raising concerns that the two parts of the Bankman-Fried e mpire depend on illiquid cryptocurrencies rather than cash or other liquid assets. The liquidity problems of the crypto sector arose after the crash at the beginning of the year, which erased $340 billion of market capitalization and lowered ETH from $3,900 to $2,200, followed by the collapse of the “stable” Terra UST coin, forming a steady series of crashes in the industry, following behind the increase in interest rates of the Federal Reserve against the backdrop of its fight against "indomitable inflation". The technical picture in ETH futures points to potentially increased risks of further erosion and disruption of the crypto market as the U.S. Federal Reserve’s interest rate cycle nears its climax and logical conclusion before the end of 2022. The left scale shows market expectations for a Fed rate by the end of Q1'23. That is well above 10-year US Government Treasuries yield.
CME:ETH1!Short
by PandorraResearch
Ethereum - Due to drift lower In August 2022, we stated a bullish narrative regarding Ethereum's “merge” is absolute nonsense that will be proved wrong as time progresses. Then over the coming weeks, we also expressed our worries about the FED meeting in September 2022. Indeed, just hours before the FOMC, we speculated that Ethereum could have experienced a short-lived bounce, followed by a sharp drop. Our assessment proved to be correct, and Ethereum bounced up after the FED decision and then fell with the rest of the market. Because of that, combined with fundamental and technical factors, we continue to be bearish on Ethereum. Accordingly, we stick to our price targets of 1000 USD and 900 USD. Illustration 1.01 Illustration 1.01 shows simple support/resistance levels for ETHUSD. Technical analysis - daily time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the daily time frame is bearish. Technical analysis - weekly time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
BITSTAMP:ETHUSDShort
by Tradersweekly
20
SPX vs. NASDAQ vs. BTC1! vs. ETH1!: filling the gapsWe are in for a big week with the Fed's announcement on potential interest hikes and further tapering of their bond buying program. Are they already priced in? Let's have a look... We have seen the typical panic across the board for the Fed's announcement (we knew this since last July!), the expectations are increased interest rates and potentially more than 4 hikes this year. Obviously, this is needed because of the record inflation numbers. However the Fed also wants to prevent heavy corrections in the market. Since the March 2020 lows, both stocks and crypto have been flying on monetary expansion and inflation creating a buy the rumor, and - when inflation numbers hit the market - sell the news. We have seen a strong correction in Bitcoin, the S&P500 and the Nasdaq. Does this means interest hikes are priced in and this is the bottom? Maybe. But I still lean towards; no. There are many factors at play here, the most obvious one are the futures and options on Bitcoin, the S&P500 and the Nasdaq. With increasingly bearish action and bearish puts or shorts, market makers had to respond with a squeeze. Most obviously in Bitcoin, where a few hundred million of short liquidations were within reach. I also posted about a potential squeeze on Friday - even though price dipped further - a squeeze was expected and therefor always take profits before you get wiped out. The ball is now with the Fed and I assume market makers already know the outcome of their new policy or have a clue. This defines also my trading strategy: what would I do if I was the market maker. Now, puts and shorts have been favor for the last week, creating reason for a squeeze, however, net gamm is still long and institutions have taken a hit with bullish calls on BTC. In the last 24 hours has seen a total of 300M liquidations (on all coins) and there is still liquidity to take out to the upside but offset that with immense call volume above 40K uptill 100K+ there is room for downside as well. With a relatively big options expiration on Friday, further downside towards the 30K zone could be favored even though max pain is at 42K. This is also seen in the higher volume in at the money options traded by the market makers to hedge against lower prices. Furthermore, puts at the 30K zone could be consumed by the market maker to create liquidity for a short squeeze in February - unless see a rally on Wednesday already if the Fed announces mild policies. Short conclusion is: the market maker is neutral at this point having hedged against the recent drops and now awaits the reaction to the Fed on Wednesday. Mind you, they will know it much earlier than you so they will start to act before the news is out. We can not trade any direction at this point and you're not missing out on anything if you're in cash right now. Risk / return wise cash is the place to be and it has been ever since my first warning in early December. Sentiment around Bitcoin is becoming increasingly bearish and Ethereum increasingly bullish; something that I expected for a while now and a full story on that later. All gaps to the upside are filled here and there are only gaps left to the downside, a direction that market makers have been preparing and retail has not considered. Short term we can expect a choppy market again, long term I do expect further continuation of the trend especially if we can not reclaim the weekly 50 EMA. First, lets wait for Wednesday. IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.
CME:ETH1!
by cryptobullethbtcxlm
1
ETH: new targets for May!After a strong run and a strong consolidation around ATH, ETH isn't done rallying yet! We see a bullish divergence on the RSI + a potential double bottom and a breakout out of its bullish triangle! As long as there are dollars, there will be higher ETH prices! I hope to see further confirmation with more volume and if so; we have 3600$ as a first target this week and 4400$ as a second target for the coming weeks! The appetite for Ethereum hasn't stopped just yet and ETH is still a good buy on spot, be careful with leverage at these price levels! ETH is still bullish against BTC as well. We are on the road to 10K but we have to be patient to get there... (see my analysis linked below) IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.
CME:ETH1!Long
by cryptobullethbtcxlm
Ethereum CME Futures now live! BuyKeep your eye on ETH futures over the next 24 hrs. They will be a good guide as to where the crypto market is headed. Press the follow tag below and ill keep you updated as an when with my thoughts ;) Nice buy power tonight in the main ETHUSD chart ahead of futures opening so I'm back long. Price bounced strongly of support and is currently trading above the control line in the upward channel which shows bulls are back in control Lets see how far up we can ride ETH now that CME futures are live!
CME:ETH1!Long
by breakoutfakeout