CryptocurrencyMarketUpdate
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đž FTX Sells About $1B of Grayscale's Bitcoin ETF, Easing Selling Pressure: Sources
FTX has reportedly sold approximately $1 billion worth of Grayscale's Bitcoin ETF, contributing significantly to recent outflows. The decline in BTC's price post the approval of bitcoin ETFs has been notable. With FTX completing the sale of its substantial holdings, there's speculation that the selling pressure could alleviate, as a bankruptcy estate liquidating holdings is considered a relatively unique event.
Market participants will closely watch the aftermath of these transactions for potential impacts on Bitcoin's price dynamics. Stay tuned for further developments in this evolving situation. đđ°
#FTX #BitcoinETF #CryptocurrencyMarketUpdate #Write2Earn #TradeNTell
FTX has reportedly sold approximately $1 billion worth of Grayscale's Bitcoin ETF, contributing significantly to recent outflows. The decline in BTC's price post the approval of bitcoin ETFs has been notable. With FTX completing the sale of its substantial holdings, there's speculation that the selling pressure could alleviate, as a bankruptcy estate liquidating holdings is considered a relatively unique event.
Market participants will closely watch the aftermath of these transactions for potential impacts on Bitcoin's price dynamics. Stay tuned for further developments in this evolving situation. đđ°
#FTX #BitcoinETF #CryptocurrencyMarketUpdate #Write2Earn #TradeNTell
ALTCOINS ARE GETTING CLOSER đ
Closer to a crucial month with expectations
The past 24 hours have been crucial in the road towards a bullish Q4
$RENDER above $5
$NAKA at 80 cents
$RIO and $TAO with strong pumps over 10%
$KAS above 16 cents
$SOL broke $130 resistance
This is not enough but there must be a start.
Now that we have seen Bitcoin push from $52k support to $57k, we can say that its a good short term recovery.
At least the demons of $44k are a little far.
⣠THE BIGGER PICTURE FOR ALTCOINS
We have mentioned this structure as the key for any #Altseason
A falling wedge with long term S/R around $520 Billion must hold and it is doing exactly that.
Without a change in this the positions don't change by much, and the phase remains a consolidation or accumulation phase.
⣠WHAT'S THE PLAN ?
Never chase pumps even the short one. Best time to buy is in a downtrend and we can see some short term profit taking.
If you believe the trend has reversed and long term is the game, go for it.
Dollar Cost Averaging into your favs is always the key in such phases when market shows short term pumps with a potential bullish structure formation.
With rate cuts, historic bullish Q4 and many other factors like US Elections influencing the market soon, the downside room has reduced and for short term there is not much risk if all events occur as per the timeline.
Which Altcoins are you adding at these lows?
#AltCoinSeason
#CryptocurrencyMarketUpdate
#AltcoinInvestment
#DollarCostAveraging
Closer to a crucial month with expectations
The past 24 hours have been crucial in the road towards a bullish Q4
$RENDER above $5
$NAKA at 80 cents
$RIO and $TAO with strong pumps over 10%
$KAS above 16 cents
$SOL broke $130 resistance
This is not enough but there must be a start.
Now that we have seen Bitcoin push from $52k support to $57k, we can say that its a good short term recovery.
At least the demons of $44k are a little far.
⣠THE BIGGER PICTURE FOR ALTCOINS
We have mentioned this structure as the key for any #Altseason
A falling wedge with long term S/R around $520 Billion must hold and it is doing exactly that.
Without a change in this the positions don't change by much, and the phase remains a consolidation or accumulation phase.
⣠WHAT'S THE PLAN ?
Never chase pumps even the short one. Best time to buy is in a downtrend and we can see some short term profit taking.
If you believe the trend has reversed and long term is the game, go for it.
Dollar Cost Averaging into your favs is always the key in such phases when market shows short term pumps with a potential bullish structure formation.
With rate cuts, historic bullish Q4 and many other factors like US Elections influencing the market soon, the downside room has reduced and for short term there is not much risk if all events occur as per the timeline.
Which Altcoins are you adding at these lows?
#AltCoinSeason
#CryptocurrencyMarketUpdate
#AltcoinInvestment
#DollarCostAveraging
đ„đ„đ„ #bitcoinâïž Hits $61,000 After Attempting $62,000
#CryptocurrencyMarketUpdate : Key Price Targets and Trends
Bitcoinâs price recently surged towards $62,000 but has since settled around $61,000. As investors watch closely, daily closing prices will be critical in determining the next moves. The upcoming Asian market opening could be influenced by broader economic trends, including potential interest rate cuts and favorable signals from policymakers like Harris.
1. #DogecoinâŹâ© (DOGE) Price Target
- For Dogecoin, closing above $0.11 is key for an upward trend. A drop below $0.10 could push the price to $0.09. A rise to $0.23 this year may lead to $0.40. For updates, check NEWSLINKER.
2. $TON Coin Prospects
- The TON Coin ecosystem continues to grow despite distribution challenges. Binanceâs recent listing of DOGS, a meme coin within the TON ecosystem, has generated interest. With Telegram's user base approaching one billion, TON projects are poised for rapid expansion. TON Coin should remain above $6.56 to avoid a drop to $6.05. A rise past the SMA50 level of $6.79 could reignite a rally, pushing the price towards $7.65 or higher.
Key Investor Takeaways
- Bitcoin: Watch daily closing prices to gauge future movements.
- Dogecoin: Needs to stay above $0.11 to signal a potential reversal of the downtrend.
- TON Coin: Benefits from Telegramâs massive user base; stability is key above $6.56.
- Cardano (ADA): Trading around $0.3679 with a 7% increase; a close above $0.35 could lead to a rally towards $0.52.
3. Cardano ($ADA ) Performance
- Cardano, trading at $0.3679, has risen nearly 7% and closed above the EMA20 at $0.35. This weakening of bearish momentum could lead to a move toward the SMA50 at $0.38, with a sustained close potentially rallying to $0.52.
Conclusion
The cryptocurrency market is marked by crucial price targets and support levels for Bitcoin, DOGE, TON Coin, and ADA. Monitoring these levels will be key to understanding future price movements & market trends.
Source - en.bitcoinhaber.net
#BinanceSquareTrends
#CryptocurrencyMarketUpdate : Key Price Targets and Trends
Bitcoinâs price recently surged towards $62,000 but has since settled around $61,000. As investors watch closely, daily closing prices will be critical in determining the next moves. The upcoming Asian market opening could be influenced by broader economic trends, including potential interest rate cuts and favorable signals from policymakers like Harris.
1. #DogecoinâŹâ© (DOGE) Price Target
- For Dogecoin, closing above $0.11 is key for an upward trend. A drop below $0.10 could push the price to $0.09. A rise to $0.23 this year may lead to $0.40. For updates, check NEWSLINKER.
2. $TON Coin Prospects
- The TON Coin ecosystem continues to grow despite distribution challenges. Binanceâs recent listing of DOGS, a meme coin within the TON ecosystem, has generated interest. With Telegram's user base approaching one billion, TON projects are poised for rapid expansion. TON Coin should remain above $6.56 to avoid a drop to $6.05. A rise past the SMA50 level of $6.79 could reignite a rally, pushing the price towards $7.65 or higher.
Key Investor Takeaways
- Bitcoin: Watch daily closing prices to gauge future movements.
- Dogecoin: Needs to stay above $0.11 to signal a potential reversal of the downtrend.
- TON Coin: Benefits from Telegramâs massive user base; stability is key above $6.56.
- Cardano (ADA): Trading around $0.3679 with a 7% increase; a close above $0.35 could lead to a rally towards $0.52.
3. Cardano ($ADA ) Performance
- Cardano, trading at $0.3679, has risen nearly 7% and closed above the EMA20 at $0.35. This weakening of bearish momentum could lead to a move toward the SMA50 at $0.38, with a sustained close potentially rallying to $0.52.
Conclusion
The cryptocurrency market is marked by crucial price targets and support levels for Bitcoin, DOGE, TON Coin, and ADA. Monitoring these levels will be key to understanding future price movements & market trends.
Source - en.bitcoinhaber.net
#BinanceSquareTrends
Grayscale Bitcoin Sales Update đą
In a notable development, Grayscale has liquidated 52,000 Bitcoins since the launch of the Spot Bitcoin ETF, equivalent to an approximate value of $2 billion within a single week.
This substantial sell-off raises questions about the motivations behind Grayscale's divestment and potentially signals a strategic realignment of their cryptocurrency holdings. The market impact of such a significant sale warrants close observation, as it may influence overall sentiment and price dynamics in the short term. đđ°
$BTC
#Grayscale #TrendingTopic #TradeNTell
#BitcoinSales #CryptocurrencyMarketUpdate
In a notable development, Grayscale has liquidated 52,000 Bitcoins since the launch of the Spot Bitcoin ETF, equivalent to an approximate value of $2 billion within a single week.
This substantial sell-off raises questions about the motivations behind Grayscale's divestment and potentially signals a strategic realignment of their cryptocurrency holdings. The market impact of such a significant sale warrants close observation, as it may influence overall sentiment and price dynamics in the short term. đđ°
$BTC
#Grayscale #TrendingTopic #TradeNTell
#BitcoinSales #CryptocurrencyMarketUpdate
