### Will Ethereum (ETH) Recover After Falling Below $3,000 Again?

Ethereum (ETH) has experienced a significant drop of over 8% in the past 24 hours, falling from $3,100 to $2,900. This recent decline is partly attributed to Genesis Trading's transfer of 256,775 ETH amidst its bankruptcy proceedings. As the second-largest cryptocurrency by market cap, Ethereum has dipped below $3,000 for the second time in the last month, reflecting global market concerns and substantial sell-off pressure in the crypto market.

Today's 8.41% decrease in ETH coincides with Genesis Trading's movement of $521 million in Ethereum (256,775 ETH) and $1.1 billion in Bitcoin (32,256 BTC) to various addresses. This activity is part of the company’s efforts to repay creditors following its January 2023 bankruptcy filing, which stemmed from mismanagement of funds related to the Gemini Earn program. In May, a court approved Genesis to liquidate $3 billion in assets to compensate affected customers.

The global crypto market is already experiencing pressure due to the impending Mt. Gox BTC repayments, contributing to a bearish outlook.

### Will Ethereum Climb to $3,500?

Ethereum briefly recovered to approximately $3,150 before falling below $3,000 again, influenced by the recent ETH transactions by Genesis Trading. This decline has triggered significant liquidations, amounting to $80.07 million in the past 24 hours, with long positions being the most impacted, totaling $71.56 million.

**Ethereum (ETH) Price Chart (Source: TradingView)**

Analyzing the daily price chart, Ethereum is struggling below the key support level of $3,000. The recent price action suggests a potential further decline, with the 21-day simple moving average (SMA) currently acting as a resistance level around $3,323. If ETH can rebound from the $2,844 to $2,760 support zone, there may be a chance for a W-shaped recovery pattern. This pattern indicates a possible market rebound after a decline, characterized by two low points with a brief rally in between.
#BTC
#ETH

#Bitcoin

In a few months, it won't matter if you bought BTC at $56k or $50k. The market seems ready for a turnaround. The blue line in the MZ BTC Bottom-Indicator should hold, echoing the 2017 cycle. Remember 2022? Many thought $17k was the bottom, but BTC dipped to $15k. Did that matter months later? No. The key is to buy within your comfort zone and be patient.

Stay ahead in the game.

❤ Your generous tips help us provide top-tier investment advice! ❤

#Write2Earn!
#BTC
#Bitcoin
#MarketAnalysis

If you have a positive outlook on Pepe, the current price range of 0.94 to 0.78 might be a good entry point. The daily Vegas channel clearly shows it within the previous low range. It could be a worthwhile bet! This is the kind of gamble with relative certainty!

Donald Trump has reportedly raised over $4,000,000 for his election campaign through Bitcoin and other cryptocurrencies.
He previously expressed admiration for Elon Musk, mentioning that Musk contributes $45,000,000 to him every month without any public acknowledgment.

"Kamala Harris' Presidential Prospects Soar to New Heights on Polymarket

In a significant development, Vice President Kamala Harris' chances of winning the presidential election have reached an all-time high on the crypto prediction platform Polymarket. With over $472 million wagered, Harris' odds of securing the presidency have surged to 45%, marking a 6% increase in the past 24 hours.

Conversely, Republican nominee Donald Trump's odds have dipped to 53% during the same period. Since President Biden's exit from the race nearly two weeks ago, Harris' odds have steadily climbed by 16 percentage points, from 29% to 45%.

In contrast, Trump's odds have fallen by 10 percentage points during the same timeframe. Meanwhile, third-party candidate Robert F. Kennedy Jr.'s odds have remained relatively stable at 1%.

Harris' growing momentum on Polymarket mirrors her campaign's recent successes, including a whopping $200 million in donations in just one week. Her campaign is also gaining traction in key swing states like Pennsylvania and Georgia.

Furthermore, Harris' popularity is on the rise in national polls, with a recent Leger survey showing 48% of voters favoring her, giving her a seven-percentage-point lead over Trump. Within the Democratic Party, approximately 80% of members express satisfaction with Harris as the nominee.

As the U.S. elections approach, Polymarket has seen a record surge in activity, with over $387 million in trading volume in July, driven largely by the presidential race. To accommodate the increased demand, Polymarket has partnered with MoonPay to facilitate bank transfers and credit card payments for bettors."

"Market Alert: Cryptocurrency Prices Plummet

Ethereum has fallen below the $3,000 mark, while Bitcoin has dropped to $62,500. This sudden downturn is attributed to a significant transfer of assets from wallets linked to Genesis Trading. In the past hour, approximately 16,600 Bitcoins (valued at $1.1 billion) and 166,300 Ethereums (worth $521.1 million) were moved to an address associated with bankruptcy liquidation procedures.

As a result, over $60 million in liquidations have occurred in the last hour, with a staggering $270 million in the past 24 hours. How are you responding to this market dip?

⚡️ Are you:-

.Buying the dip?
.Selling your assets and exiting the market ?
.Observing the situation cautiously?

Share your strategy!"

"Unlock Your Path to Wealth in the Crypto Space!
To succeed in the cryptocurrency market and achieve financial prosperity within the next six months, follow these essential guidelines:

1. *Empower Yourself*: Delve into the world of blockchain, cryptocurrencies, and market dynamics to make informed decisions

.2. *Invest with Insight*: Research and select promising projects with growth potential, rather than relying on speculation.

3. *Diversify Your Portfolio*: Spread investments across various asset classes and risk levels to minimize exposure.

4. *Adopt a Long-Term Perspective*: Weather market fluctuations and hold onto investments with conviction.

5. *Stay Informed*: Continuously monitor market trends, news, and updates to stay ahead.

6. *Build Connections*: Network with experienced investors and industry experts to gain valuable insights.

7. *Manage Risk*: Set stop-loss orders and limit positions to protect your investments.

8. *Innovate and Adapt*: Explore new opportunities like DeFi, NFTs, and Web3 to stay ahead of the curve.

9. *Maintain Discipline*: Avoid impulsive decisions based on emotions and stick to your strategy.

10. *Cultivate Patience*: Wealth accumulation takes time, so be patient and persistent.Additionally, consider:-

*Trading*: Develop trading skills to capitalize on market movements.-

*Staking*: Participate in staking to earn passive income.-

*Mining*: Invest in mining to generate revenue through block rewards.-

*Initial Coin Offerings (ICOs)*: Participate in promising ICOs for potential high returns.

Remember, success in the crypto space requires dedication, knowledge, and a well-thought-out strategy. Always prioritize risk management and never invest more than you can afford to lose."

"As we look ahead to 2030, I want to share my cautious perspective on the cryptocurrency market. While some predictions circulating on social media may seem enticing, it's essential to approach them with skepticism. Projections like $SHIB reaching $4, $PEPE hitting $25, $XRP soaring to $1500, #LUNC reaching $1772, and #DOGE skyrocketing to $3505 appear overly optimistic and resemble fanciful thinking.To newcomers in the crypto space, I advise you to exercise caution and thoroughly research before making investment decisions. It's crucial to educate yourself first, rather than investing in inactive coins and seeking advice later. I share my experience to help you avoid common pitfalls.If you've encountered similar hype, let's have a discussion. Remember, reliable investment advice requires rigorous research and a level-headed approach.Please show your support by liking, following, and sharing this post. Your generosity will empower our mission to provide the best investment guidance, and your tips will help us work even harder to deliver top-notch advice."

"There has never been a bull cycle in history without an altseason. However, this cycle is different from previous ones in several ways. Two key factors to consider are:1. Altcoin dilution: With so many altcoins in existence, it's impossible for capital to flow into every single one, even during a market mania.2. Diminishing returns: Unlike before, most altcoins won't experience easy 10-100x growth.
The average multiplier will be lower, and exceptions will be rare.Despite these changes, an altseason will still occur. Bitcoin dominance is weakening, and historical trends suggest we're close to a supply level that could trigger an altseason. However, it's essential to temper expectations and not assume every altcoin will experience massive growth. While outperformers will emerge, and some may even defy market trends with 1000x growth, it's crucial to set realistic targets and not base trading strategies on unlikely assumptions. Upside potential and an impending altseason are still on the table, but it's essential to approach the market with a clear-eyed perspective."

🚨 THE TRUTH ABOUT CRYPTOS 📈

- If you're new to investing and aiming for quick profits, it’s best to manage your expectations. Making money in the short term in the crypto market is highly challenging.
- The crypto market is heavily influenced by major players, known as Smart Money, and brokers who can manipulate prices.
- Success in this market favors the patient. Even with a small capital, long-term strategies are crucial.
- Prior to investing, avoid being swayed by hype and news. Study market cycles to identify the best entry points and develop a strong portfolio by documenting your actions.
- Patience is key. Understanding the right exit points to realize profits is essential.
- Market cycles repeat every four years, and understanding these cycles requires experience. Going through at least one full cycle helps in grasping market movements.
- By following a long-term strategy and gaining deeper insights, success is achievable.
- After experiencing a full 4-year cycle, you’ll understand when the Crypto winter occurs and the significance of the BTC Halving. You’ll know that the largest drops happen during the Crypto winter and right after the Halving, presenting prime investment opportunities. Additionally, you’ll be aware that BULL RUNS typically start around six months post-Halving and are relatively brief.
- With this knowledge, you’ll see that long-term strategies are effective. You won’t need to wait for another four years to act, as you’ll have a solid understanding of market patterns.
- Maintain a strong mindset and stick to your strategy diligently.

**Kamala Harris Campaign Signals Pro-Crypto Shift**

Vice President Kamala Harris is reportedly making efforts to reshape her relationship with the cryptocurrency industry, a move seen as both strategic and controversial. This week, California Congressman Ro Khanna will host a significant meeting in Washington, bringing together leaders from the crypto industry and political figures.

**Harris Campaign to Attend Khanna's Crypto Roundtable**

The roundtable will include Democratic politicians, and representatives from the Kamala Harris campaign will also be present, according to a report by FOX journalist Eleanor Terrett. This event marks a renewed effort by pro-crypto Democrats to establish a new relationship with the industry, indicating a substantial policy shift.

**Challenges and Criticism**

However, Harris’s attempt to change her stance on cryptocurrency has faced criticism. Tennessee Senator Bill Hagerty has expressed strong skepticism about Harris’s new strategy. He remarked:
"It’s no surprise that after witnessing the monumental success of President Donald Trump at the Bitcoin conference in Nashville, Kamala Harris is, as she has on many other issues, making a desperate last-minute 180-degree flip to appear pro-crypto."

Senator Hagerty also criticized the Biden-Harris administration’s previous policies against the crypto space, labeling them as "egregiously anti-crypto and anti-innovation." He noted the perceived inconsistency between Harris’s new position and the administration’s past actions.

#BinanceTurns7
#BinanceTournament. #MtGoxJulyRepayments #US_Job_Market_Slowdown
#Write2Earn

**Donald Trump's Strategic Plan Could Make Bitcoin Owners Rich**

In recent years, China and Russia have been significantly increasing their gold reserves, aiming to back their currencies with gold to challenge the dollar, which has not been backed by gold since the 1970s. The US, despite having the largest gold reserves, does not back its currency with gold due to the petrodollar system. This system, established in the 1970s, ensured global demand for the dollar by trading oil in US dollars. However, this agreement has expired, weakening the dollar and giving other countries a chance to strengthen their currencies.

Donald Trump has recognized this shift and has proposed an alternative solution to fortify the dollar: backing it with Bitcoin, which he refers to as "digital gold." He believes that Bitcoin's market capitalization will eventually surpass that of gold. His plan involves:

1. Accumulating a significant reserve of Bitcoin.
2. Pumping and stabilizing Bitcoin’s price to exceed gold's market capitalization.
3. Strengthening the dollar by backing it with Bitcoin.

Bitcoin's deflationary nature, with a capped supply of 21 million, makes it an ideal reserve that increases in value over time. Unlike gold, which can still be mined, once 51% of Bitcoin is held, it remains under control permanently. If Trump wins the presidency and implements this plan, it could be extremely bullish for Bitcoin. Holding at least 0.1 BTC could potentially ensure financial security for life.
#DonaldTump
#BTC
#US_Job_Market_Slowdown
#CryptoPM
#BinanceTournament!

This isn't just a bear market or a typical dump. We're facing a bottomless decline. This is an unprecedented market collapse, unlike anything we've seen in the crypto space before.
Whales are dumping. Institutions are dumping.
Investors of all sizes are dumping. All of this is leading to an absolute market collapse.

The cryptocurrency market is experiencing a significant downturn, with sharp declines seen across various tokens. Today's data indicates that most cryptocurrencies have suffered substantial losses. Newly listed tokens like BANANA, ZRO, LISTA, and ZK have dropped by 15.83%, 14.06%, 16.93%, and 14.80%, respectively. Established tokens such as BNB, $BTC, and ETH have also seen decreases of 5.90%, 5.52%, and 6.89%, respectively.

This widespread bearish trend is affecting nearly all sectors of the cryptocurrency market, from leading coins to recent listings. Tokens such as IO, $NOT, BB, $PEPE, and REZ are down by significant percentages, ranging from 13.77% to 19.35%. The overall market sentiment is clearly negative, reflecting broader concerns that could include regulatory pressures, market corrections, or macroeconomic factors.

Investors should exercise caution during such volatile times. Closely monitoring the market for signs of stabilization or potential strategic entry points could be crucial. For now, the bearish momentum is prevailing, impacting both prices and market confidence.
#BearishPhase
#BearishAlert
#Write2Earn
#BinanceTournament!

#Altcoins

We've reached a pivotal moment. A golden cross has emerged on the monthly chart for the total market cap, indicating a robust bullish trend.
This is a significant signal in my view. The previous occurrence was in 2020, which heralded the start of the most exciting phase of the entire cycle.

🚀🚀 Whales have recently bought millions of dollars worth of Bitcoin and two altcoins. Bitcoin, which dropped sharply after exceeding $70,000 earlier this week, is now around $63,500. On-chain tracking by Lookonchain has revealed significant whale activity, particularly in Bitcoin, AAVE, and CRV.

A whale has purchased 5,800 BTC, worth approximately $370 million, through Binance over the past two days. Additionally, DeFi altcoins like AAVE and CRV have caught the attention of four different whales.

One whale acquired 12.5 million CRV, valued at $3 million, from Binance and OKX exchanges. The other three whales focused on AAVE purchases on Binance. The whale with the address 0x9af4 bought 11,185 AAVE units worth $1 million, 0x790c bought 21,619 units worth $2 million, and 0xd7c5 purchased 26,000 units worth $2 million.

Since May, investors have increasingly turned to DeFi tokens, particularly after news of potential Ether spot ETF approval in the US. Alongside AAVE and CRV, whales have also been buying tokens like UNI, ENS, and LINK.

In July, hackers executed 16 attacks on the crypto ecosystem, resulting in the theft of $266 million. The most significant loss was experienced by the Indian exchange WazirX, which had over $230 million stolen by North Korean hackers. Other affected entities included Compound Finance, which lost $24 million, and Li.Fi Protocol, Bittensor, and Rho Markets, each of which lost $8 million. To avoid detection, the majority of the stolen funds were laundered through Tornado Cash.

### Protect Your Crypto Before Potential Iran-Israel Conflict

Tensions between Iran and Israel have reached a critical point following the assassination of Hamas leader Haniyeh. With the potential for a full-scale war, it's crucial to safeguard your cryptocurrency assets. Here are some strategies to consider:

**Prepare for Market Volatility:**
War can significantly impact traditional and crypto markets. Assess your crypto portfolio and determine your risk tolerance.

**Diversify Your Investments:**
Avoid concentrating your investments in one asset. Spread your holdings across various cryptocurrencies and consider "safer" options like gold or stablecoins.

**Increase Holdings in Stable Assets:** Stablecoins and Bitcoin are often viewed as safer during market upheaval. Consider increasing your investments in these assets to mitigate risks.

**Stay Informed:**
Keep abreast of the latest news and market trends to make informed decisions promptly.

**Set Stop-Loss Orders:** Protect your assets by setting stop-loss orders, which will automatically sell your holdings if prices fall below a specific threshold.

**Understand Your Risk Tolerance:** Be honest about the level of risk you're comfortable with and adjust your strategy accordingly.

**Avoid Panic Selling:**
Stay calm and avoid making impulsive decisions. Stick to your strategy and base your actions on thorough research.

**Seek Professional Advice:**
Consult with crypto experts to create a tailored plan for protecting your investments.

The crypto market is unpredictable. Stay prepared and don't let potential conflicts leave you vulnerable.
#CryptoSafety
#IranIsraelConflict
#MarketPreparedness

It took me four years in the crypto market to understand these insights, and you can grasp them in just two minutes:

1. Regardless of market conditions, one thing remains constant: 8% of people will control 21 million Bitcoin.
2. Skills in financial management, capital management, and risk management are far more crucial than technical analysis or crypto research.
3. There are various ways to earn passive income in the crypto market. Don't focus solely on trading.

Despite Bitcoin's average annual growth of over 100% over the past 15 years, few people profit significantly from it. The reason? Many enter the crypto market expecting quick riches. If you can't dedicate at least four hours a day to crypto, stick to Bitcoin and Ethereum—allocate 70% to Bitcoin and 30% to Ethereum. Be wary of others’ advice; misplaced trust can lead to hope, disappointment, and mistakes. Educate yourself and take full responsibility for your trading decisions. This is how you gain the invaluable experience of automatic minting!

The ultimate goal of investing is to enhance life’s meaning. When your crypto investments start making your life more meaningful, pursue them wholeheartedly. Otherwise, abstain.

Crypto originated from technology, but it has evolved into a financial market. Using a technology-centric mindset to invest in a financial market is challenging. Cryptocurrencies are increasingly linked to traditional financial markets, and macroeconomic factors now have a significant impact on crypto.

When you buy assets like land, gold, or diamonds, no one objects. But buying Bitcoin often attracts skepticism and criticism. It's fine because once everyone accepts an opportunity, it may be too late or overvalued.

This is concerning news. President Zelensky has enacted a law permitting Ukraine to defer its external debt payments until October 1. During this period, Kyiv intends to negotiate debt restructuring with its creditors. Many Western nations and their taxpayers are already facing significant economic challenges. Could this situation exacerbate those issues?
#Dyor2024
#UkraineCrisis