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Starke Leistung für #GameFi-Projekte 🚀
$GSWIFT +480 %#BIGTIME+292,2 %
$SHRAP +262,4 %#3ULL+229,8 %
$SIDUS +226,7 %
$BEAM +203,5 %
$MC +195,2 %
$GF +178,9 %
$GOG +165,4 %
$IGU

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Evaluating Bitcoin’s Recent Price Increase Crypto analyst Willy Woo recently provided insights into BTC’s volatility, suggesting that while recent price corrections have reduced some of the market’s excessive leverage, a full recovery is still distant. According to Woo, the market continues to face excessive speculation that needs to be addressed for price stabilization. Woo noted that the recent rise to $62,000 was more of a technical rebound rather than a fundamental recovery, indicating deeper issues still affecting the Bitcoin market. He described the latest price increase as a technical correction driven by automated trading algorithms, rather than a genuine surge in buyer demand. He pointed to specific patterns, such as the TD9 reversal and hidden bullish divergence, indicating a short-term recovery but not necessarily long-term health. Woo stated, “So far, this technical reversal is underw However, he emphasized that this recovery does not reflect underlying fundamental strength. The market is merely adjusting from previous overselling without any significant changes in the actual supply and demand dynamics of Bitcoin. For a true bullish reversal in fundamentals, there needs to be an increase in the number of spot buyers purchasing coins directly from exchanges, a trend that is not yet evident. Woo also noted, “We are still waiting for the hash rate to rise again, which is a clear sign that miners have stopped selling to fund hardware upgrades.” He concluded, “So, be prepared for boring price action for several more weeks. This is not the time for moonshots. It’s time for speculators to either liquidate themselves or become disheartened and close their positions. Only then can we move forward. The best path here is to stack up and let the weak hands get out.” In-Depth Market Insights Market data on Bitcoin’s open interest and trading volume further exacerbate its bearish outlook.

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Continuation... An analysis of Coinglass data reveals a significant 2.16% drop in open interest and a 25% decrease in open interest volume over the past day, indicating reduced trading activity and potentially lower speculative interest. This decline suggests traders are less willing to take positions in Bitcoin, anticipating further price drops. Moreover, the MVRV ratio, which compares Bitcoin’s market value to its realized value, stands at 1.98 at the time of writing. This ratio helps determine whether Bitcoin is undervalued or overvalued relative to its historical price norms. An MVRV ratio below 2 typically indicates Bitcoin is undervalued, suggesting prices could rise if market sentiment shifts. However, given the current market conditions and economic uncertainty, this potential growth should be approached with caution.

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Is Kaspa crypto set for a breakout above $0.2 next, or can bears take control? Kaspa crypto (KAS) experienced a 24.6% increase last week, with a bullish trend since mid-May when $0.13 became a strong support level. The resistance level to watch is $0.184, with a potential for KAS to consolidate around $0.184-$0.193. Fibonacci retracement levels showed supports at $0.13 and $0.106. Though a short-term rally saw RSI indicating bullish momentum, the OBV did not clear resistance levels from April, suggesting an unstable uptrend. The $0.12-$0.14 region provided liquidity for a climb towards $0.196 and $0.2, where KAS might establish a trading range.

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🔥Today’s Hamster Kombat Daily Cipher Morse code The code: MINER M: -- (dash dash) I: •• (dot dot) N: -• (dash dot) E: • (dot) R: •-• (dot dash dot)

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