Good morning, noon or evening dear Binancians,

Looking at the Binance $BTC /USDC chart today, I spotted something great. Let me quickly explain why the Binance BTCUSDC chart matters! (and why BTCUSDT doesn't)

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The trading platform 'Binance' 💛

With 235 million tokens and a daily trading volume of USD 60 billion, Binance is one of the largest cryptocurrency exchanges in the world.

USD stablecoins: Tether and Circle 💵

Due to the EU and the MiCA regulations, Binance has been put under pressure, as Binance has to offer MiCA-compliant stablecoins in order to be tradable in the EU in accordance with the rules. USDC (Circle), for example, is a MiCA-compliant stablecoin. At the end of this year, trading with USDT is expected to no longer be possible for Europeans.

My conclusion: 💭

  1. 🎢 The last few weeks have been an emotional rollercoaster for the crypto community. We had ever lower prices and a Black Monday in August with a BTC price of $49,000.

  2. 📈 However, I have seen rising prices since Black Monday and from a technical perspective, $65,000 is seen as support.

  3. 🚀 Additionally, there has been a strong increase in volume in recent weeks as can be seen in my chart. This could be a signal that more or larger market participants are investing in BTC.

Big 🆚 Small

⭕️⭕️⭕️ Increased volume with falling prices is always a signal to pay attention to. ⭕️⭕️⭕️

  1. 💰 Four billion dollars have flowed into BTC spot ETFs this week and BTC holdings on all exchanges are at their lowest level ever.

  2. 📴 Retailers are not even remotely thinking about cryptocurrencies. In March 2024, Coinbase was ranked 20th (BTC: $72,000) and is now not even in the top 400 (BTC: $68,000)

  3. ❔What happens when the supply is already low and the demand for BTC and various other coins increases?

Psychology behind the BTC chart 🔮

  1. Current situation: The Bitcoin price is currently struggling with its $67-68,000. The top of 2021 (LAST ATH before $73,000) at $69,000 is being tested and the BTC is trying to end its downtrend since March.

  2. Optimus?: A breakout above €70,000 could be seen as hope, which could bring more participants into the market. The top of 2020 in the first wave (Ellito Wave Theory: Wave 1 at around $58,500) was ONLY TESTED but NOT BROKEN during the consolidation since March. October tested this zone and has been moving upwards since then.

🌎 Macroeconomic factors such as the US interest rate cuts, the US elections, the conflicts in the Middle East and Ukraine are also all contributing to the Bitcoin price. However, one thing will never change: the psychology behind people.

Diploma

Until then, stay tuned for what else is in store for us!

What price will Bitcoin reach at the end of 2024? Are we already at €100,000 or higher or will we fall to $30,000 or maybe even $20,000? Be sure to give your opinion💪🏻

This article contains my subjective opinion! which I was able to gather from these financial markets. With my letter I do not want to persuade anyone to buy or sell digital assets. Everyone is responsible for their own profits and losses as well as purchases and sales. I am not liable for any damage caused.

DAYOR! (Do always your own research)

#bitcoin #btc #crypto #cryptocurrency #BinanceLaunchpool $XRP