MMmie

MMmie

Current Market Analysis Recently the cryptocurrency market has experienced a series of market fluctuations and we have identified three recent waves through our review. The first wave was driven by old coins (e.g. BCH), the second wave was represented by traditional DEFI old coins (e.g. COMP), and the third wave was affected by the SEC regulatory event of XRP. All...

MMmie

The past few days have been particularly exciting for the cryptocurrency market, including Ripple Labs (XRP) victory over the SEC, which has led to a very nice increase in the registration of many of the torrents of coins that have recently qualified as security tokens, such as SOL, MATIC, AVAX, ATOM and many other assets. However, this weekend, traders...

MMmie

BTC confirmed its daily bear market move, along with a nasty sweep of the highs. We've seen these developments before - even with sweeps. Is there a result this time? I don't know. But we likely haven't seen the lows yet. I don't think it's all doom and gloom. We are still in an exceptional position in the 1D+ timeframe. We may even make a third high like last...

MMmie

The next halving of Bitcoin is expected to occur in April 2024, when the block reward will drop from 6.25 BTC to 3.125 BTC. Cryptocurrency proponents believe this more scarce supply will help maintain Bitcoin's long-term value, or at least until it reaches its 21 million cap around 2140. So far, miners have been able to make up for the loss of income when rewards...

MMmie

Ki Young Ju, co-founder and CEO of cryptocurrency data analytics platform CryptoQuant, shared in a tweet today that Bitcoin miners have sent 54,000 Bitcoins to Coin Security in the last 3 weeks. At the same time, however, the open interest in bitcoin has not changed significantly. In Ki Young Ju's view, this suggests that miners are less likely to top up their...

MMmie

Bitcoin (BTC) has recovered significantly in the last month, returning to the $31,000 mark at one point, thanks to applications for bitcoin spot ETFs from asset management giants BlackRock, Fidelity, Invesco, VanEck, 21Shares, WisdomTree, Bitwise, ARK Invest and others. It is up 18.4% in the last 30 days. In contrast, Ether (ETH) has only gained 5.5% over the last...

MMmie

Business profitability is likely to decline due to the unprecedented tightening of monetary policy by the Federal Reserve and macroeconomic concerns. Companies have been forced to reduce hiring and adopt cost-cutting strategies due to ongoing inflation. Despite this, the US economy is showing resilience, as evidenced by a 0.3% increase in retail sales in May from...

MMmie

Coinalyze data shows that traders shorting Bitcoin Cash (BCH) have lost the most money in more than two years as the price spiked to $320 last week. Short and long futures tracked by BCH have accumulated losses of more than $25 million, which may have contributed to the sudden price spike. A short position is defined as shorting any asset, while a long position is...

MMmie

ProShares Bitcoin Strategy (BITO), the first U.S. bitcoin futures ETF launched by asset manager ProShares in October 2021, has once again surpassed the $1 billion asset size mark, according to data posted on social media by Eric Balchunas, senior ETF analyst at Bloomberg, while the ETF also recorded its largest single-week inflow in 2023.

MMmie

Over the past 24 hours, BTC has gained a modest 0.34% and is currently trading at $30,727, close to its yearly high of $31,000. Bitcoin has seen a new wave of institutional interest over the past week as many traditional financial institutions have registered Bitcoin ETFs. As a result, the market has become more optimistic and traders are not interested in the...

MMmie

Volatility Shares' 2x leveraged Bitcoin futures ETF (BITX) was cleared by the SEC on Friday, making it the first leveraged cryptocurrency ETF in the US ETF and will open for trading as soon as next Tuesday. Stuart Barton, chief investment officer at Volatility Shares, told media outlet Coindesk that the regulator did not reject his application for a 2x leveraged...

MMmie

Bitcoin has soared above $31,000 as institutional investors began to focus on it following high-profile ETF filings and the launch of a new cryptocurrency exchange. According to CoinGecko, the largest cryptocurrency by market capitalisation is trading at $31,195 at the time of writing. It is up more than 4% in 24 hours and more than 21% in the last seven...

MMmie

The two-sided performance of 2023 so far has been reminiscent of 2019. For those new to the sector, 2018 has been very similar to 2022, with a sharp pullback following the bull market peaks of 2017 and 2021. Prices bottomed out in December 2018 at around US$3,200 before rising rapidly in the first half of 2019 to close to US$14,000 by the end of June. From the...

MMmie

Watch out for high and low switches in oscillating markets ETH (↑) Entry point one 1705 [head position Entry point two 1680 . Stop loss range 1740-1760 Stop Loss 1660 Pay attention to the proper arrangement of positions ETH (↓) Entry point one 1735 [open position Entry point two 1750 [cover position Take profit range 1715-1700 Stop Loss 1770 Note the...

MMmie

Bitcoin fell to about $24,990 on Wednesday as investors were unimpressed by the US central bank's widely expected suspension of its more than year-long plan to raise interest rates. Major cryptocurrencies dived into negative territory in the late afternoon. The largest cryptocurrency by market capitalisation recently fell 3.2 per cent in the past 24 hours...

MMmie

Bitcoin fell to about $24,990 on Wednesday as investors were unimpressed by the US central bank's widely expected suspension of its more than year-long plan to raise interest rates. Major cryptocurrencies dived into negative territory in the late afternoon. The largest cryptocurrency by market capitalisation recently fell 3.2 per cent in the past 24 hours...

MMmie

ETH 1,768 USD The performance was relatively good. This suggests that institutional investors are not panicking and selling off positions. As a result of the outperformance, bitcoin's dominance has risen to a year-to-date high of 47.6%, while ethereum has risen to 20%. Uncertainty in the short term may keep some investors on the sidelines. In the meantime, firm...

MMmie

Bitcoin fell again to the key support level of $25,250 on 10 June, indicating that the shorts are under pressure. Repeated retests of support levels within a short period of time tend to weaken it. The downward sloping moving averages and negative area of the Relative Strength Index (RSI) indicate that the shorts are in control. If the support area between $25,250...