#Write2Earn Bitcoin has displayed a rare signal on the monthly chart, a phenomenon that has occurred only once in the past 8 years.A rare buying signal has emerged on Bitcoin's monthly chart, fueling ongoing debates about the cryptocurrency's price trajectory in the coming weeks. This development comes amid recent concerns about the stability of the traditional financial system.Analysts point out that the ADX/DI indicator has formed a crossover in the upward trend on the monthly chart for the first time in 8 years. This trend and momentum tracking tool is predominantly used for its ability to gauge trend strength and potential reversals.The current formation bears a peculiar resemblance to a pattern observed in 2016. According to this pattern, in 2016, Bitcoin's price surged higher in the following year, sparked by the excitement surrounding Initial Coin Offerings (ICOs). By December 2017, Bitcoin reached its peak at $20,000, soaring from below $500 in 2016, coinciding with the ADX/DI indicator flashing a buying signal.However, what has occurred in history is not necessarily guaranteed to repeat in the future. Bitcoin, in particular, and the overall #cryptocurrencymarket are increasingly intertwined with the global economy.The price of Bitcoin may be influenced by macroeconomic risks and legal decisions, as well as the recent interest rate decisions of the Federal Reserve (#Fed ).Based on investor #Sentiment s, there is a possibility that further cracks in the U.S. banking system could trigger significant demand for Bitcoin, as the FED intervenes through policies or by printing more money. If this scenario unfolds, Arthur Hayes predicts that Bitcoin could reach $1 million.Disclaimer. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.#TrendingTopic

The attack took place today and involved several transactions that took money from the #Sentiment protocol on the #Arbitrum Layer 2 scaling solution.

Because that Sentiment has not provided an explanation, several members of the community have conjectured that the project was hacked using blockchain information.

A smart contract called Synapse Bridge, which connects Sentiment and Arbitrum, has a bug that the hacker uses to his advantage. In order to avoid paying back the debt, the hacker was able to repeatedly withdraw #USDC from the bridge, which led to a reentry attack.

The attack's wallet has been dubbed "Sentimentxyz Exploiter" by Arbiscan, and the team has tweeted that they are aware of a "potential issue" with the protocol.

Developer Pascal Marco Caversaccio proposed that the incident was probably the result of a reentry attack. Before a Sentiment contract that is vulnerable to this form of attack can have its status changed, an external contract must communicate with it often.

Further investigation suggests that the attacker might have gained the deployer key for the protocol. The attacker began by sending a contract to the address below on the Arbitrum network.

Sentiment has taken steps to ascertain the incident's primary cause and lessen the likelihood of additional casualties. In addition to working with outside auditors and security firms, the team has gotten in touch with police enforcement. The attack raised concerns about Layer 2 solutions' dependability and security as well as their compatibility with other protocols.

This news is republished from https://coinaquarium.io/

#Write2Earn Bitcoin's value hovered just below the $43,000 threshold, while market #Sentiment continued to lean towards a bearish outlook.Bitcoin's price was once again approaching the $43,000 mark at the time of this update. Anticipation surrounds the upcoming halving event, which will reduce Bitcoin's supply, potentially triggering an uptick in demand and fueling a bullish rally.#CoinMarketCap reported a dip in BTC's price to $42,226 on February 5th. However, the cryptocurrency quickly rebounded and was teetering just below $43,000 as of the latest data.At the moment, BTC is trading at $42,861.96, boasting a market capitalization exceeding $840 billion. CryptoQuant's analysis, conducted by oinonen_t, indicates several factors that could lead to a supply shock due to heightened demand. The imminent halving and the role of ETFs are emphasized, with the analysis pointing out the potential impact on Bitcoin's issuance rate.According to the analysis: "The recently opened spot ETF floodgates will create an environment of potential bitcoin supply shock: Approximately 80% of bitcoin’s circulating supply is liquid and most of investors are heavily in profit, thus they’re less likely to sell."As demand for Bitcoin is expected to rise, historical trends suggest that an increase in demand, coupled with a stable or diminishing supply, typically results in a surge in the asset's value.Signs Pointing Towards a Bull Rally for BitcoinWhile the potential for increased demand in BTC hinted at a bullish trend, further examination of diverse datasets was conducted to ascertain if a full-fledged bull rally was on the horizon.Mignolet, an analyst and author at CryptoQuant, conducted an analysis using BTC’s Binary CDD, a metric designed to interpret the movements of long-term holders. The analysis revealed that the 182-day moving average of binary CDD data signaled the onset of a bullish trend, with the green box indicating advancement beyond the accumulation phase. A significant breakthrough of this range could potentially trigger a complete upward price cycle.To gauge the likelihood of a rally, a thorough examination of $BTC ’s daily chart was undertaken. The analysis unveiled an uptick in Bitcoin's Relative Strength Index (RSI) from the neutral mark. Moreover, the Moving Average Convergence Divergence (MACD) displayed a bullish advantage, suggesting a high likelihood of a bull rally. However, the Chaikin Money Flow (CMF) appeared bearish as it recently declineInterestingly, despite positive indicators for a bull rally, whales took the opportunity to accumulate more coins. Over the last six days alone, there was a notable 2.5% growth in the number of wallets holding balances between 1,000 and 10,000 #BTC .Surprisingly, despite these optimistic developments, sentiment around Bitcoin remained bearish, as reflected in the decline of Bitcoin’s Weighted Sentiment chart last week.Disclaimer. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.#TrendingTopic

#Write2Earn John Bollinger sees further upshoot for Bitcoin price as market #Sentiment turns bullishThe recent bullish surge in the price of Bitcoin ($BTC ) has placed it on the radar of many market experts who believe this might be the start of something big. One of the experts who have weighed in on the ongoing bullish trends is legendary Bitcoin trader John Bollinger. He took to his official X account to share a chart of BTCUSD, noting that the premier crypto is trailing the upper ends of the Bollinger Bands (BB).John Bollinger maintained that the surge toward the upper end of the Bollinger Bands might be sustained for a while. He, however, foresees a divergence much later, underscoring how the price of Bitcoin might negatively correct after the current euphoria ends.Bitcoin is currently changing hands for $47,213.46, down by 0.77% in the past 24 hours. Overall, the coin has maintained a positive showing in the year-to-date (YTD) period during which it has jumped by more than 11%. The primary target for Bitcoin now hinges on its highest price level for this year pegged at $48,969.37.#BTC USD The expectation should now be for a walk up the upper band until a divergence is detected. https://t.co/xlWkqF6ryG— John Bollinger (@bbands) February 9, 2024Many internal and external factors keep acting on the price of the coin, and the resilience it has shown thus far implies more uptrend might be ahead.Bitcoin price expectationsOver the past few months, experts like John Bollinger have always maintained an optimistic price expectation for the coin. Many bullish price targets have also been issued with Samson Mow, the CEO of the Jan3 investment vehicle, projecting a ride to $1 million.The thesis behind this massive forecast rests on two key events in the ecosystem — the spot Bitcoin ETF products and the next #bitcoinhalving . These two events are poised to boost the attractiveness of BTC through intense accumulation and reduced emissions of block rewards to miners.With these fundamentals, a supply crunch is imminent, which, when merged with higher demands, will push the price of the asset to unimaginable heights.#TrendingTopic

Upcoming Token Unlocks: A Brief Overview
The cryptocurrency market is bracing for a significant series of token #Unlocks between January 29 and February 4, involving major tokens such as $OP , $DYDX , $SUI , and $ACA . Here are the specific unlock dates and details:
Optimism (OP): Unlocking 24.16 million tokens (valued at approximately $74.41 million), which is 2.52% of its circulating supply, on January 30 at 12:00.Sui (SUI): Set to unlock 4 million tokens (approximately $5.56 million), constituting 0.36% of the circulating supply, on January 31 at 8:00.dYdX (DYDX): Planning to unlock 33.33 million tokens (around $91 million), making up 10.63% of its circulating supply, on February 1 at 8:00.Acala (ACA): Scheduled to unlock 27.43 million tokens (about $2.31 million), which is 3.1% of the circulating supply, on February 1 at 15:00.
Potential Impact on Investors
Price Volatility
These unlocks could potentially lead to increased #Volatility in the prices of these tokens. The influx of a large number of tokens might cause price fluctuations as market dynamics adjust to the increased supply.
Market Sentiment
Investor #Sentiment around these events can also influence market behavior. Anticipation or speculation about the impact of these unlocks could lead to preemptive market moves.
Historical Trends
Historically, token unlocks have sometimes led to short-term price declines as the market absorbs the additional supply. However, each event is unique, and past trends may not always predict future outcomes.
Advisories for Investors
Given the potential for heightened volatility and unpredictability, investors should consider the following:
Exercise Caution: Be particularly cautious with transactions involving OP, DYDX, SUI, and ACA tokens close to their respective unlock dates.Stay Informed: Keep track of market trends and news updates, especially around these key dates.Risk Mitigation: Diversify your investment portfolio to reduce risks associated with specific token volatility.Professional Advice: Consult financial advisors for tailored guidance, particularly if you have significant investments in these tokens.
Conclusion
The imminent token unlocks present a challenging period for crypto investors. A well-informed, cautious approach could help in effectively navigating this period, minimizing risks while potentially seizing emerging opportunities.
#Write2Earn

#Write2Earn Bitcoin's recent climb to over $50,000 has caught the attention of financial expertsContentsWalking the upper bandA new era for #BTC Bitcoin has ascended once more, crossing the psychologically significant $50,000 threshold. This surge was noted by John Bollinger, the renowned technical analyst and creator of Bollinger Bands, a popular analytical tool among traders. Bollinger took to Twitter with a succinct message highlighting the cryptocurrency's climb. "Hey ho, what do you know? Nice little walk up the upper Bollinger Band to $50,000 $btcusd," he posted on X.Walking the upper bandBollinger's post references the price movement of Bitcoin touching the upper Bollinger Band, an event often interpreted as a bullish signal. Bollinger Bands consist of a middle SMA (Simple Moving Average) and two standard deviation lines, the bands, plotted above and below the SMA. When the price touches or breaches the upper band, it indicates that the asset is possibly overbought in the short term, hinting at strong market confidence or speculative interest.The chart in question reveals a consistent upward trend for Bitcoin, with the latest candlesticks hugging the upper band, implying sustained bullish #Sentiment . The price has not only breached past the upper band but has also broken through the $50,000 mark, a round number that often acts as a resistance level due to human psychology and trading behavior. However, the spacing between the bands also suggests increased market volatility, and the price residing above the upper band may hint at a potential pullback, as past patterns have often followed this trend with a reversion to the mean.A new era for BitcoinBitcoin's latest price milestones may herald the beginning of a "new era" in its market dynamics. Interestingly, this rally coincides with a period where Google searches for Bitcoin are at their lowest in comparison to its price—a divergence from the usual pattern where price spikes accompany heightened public interest.Yassine Elmandjra of #ArkInvest remarked on this unusual trend, suggesting that Bitcoin's current valuation is not driven by retail frenzy but could be the result of institutional investment and a more utility-focused market presence. This shift could indicate a maturing of the market, moving away from speculative trading by individuals to more stable, long-term growth supported by businesses and financial institutions.However, caution is warranted. Data from Lookonchain indicates that many addresses that purchased Bitcoin at prices just above the current level are now holding at a loss. This could lead to selling pressure if prices approach these higher levels again, as investors might look to minimize losses or break even.#TrendingTopic

#Bitcoin rallies to $50,000 and higher, are we going to see $100,000 in the next few months?The ultimate question is what the price of Bitcoin is going to do in the #upcoming period.The inflow has netted more than $2 billion in a week. What can we expect with Bitcoin? 👇The price of Bitcoin has been accelerating. Prior to the #ETF rally from $25,000 to $49,000 has been taking place. Since then, the sentiment quickly shifted towards an ultra-negative sentiment indicating that the markets had to go down to $30K due to the outflow of #GBTC.However, markets reversed from $39K indicating massive interest in the Bitcoin Spot ETFs resulting into a peak at $53K and a constant inflow. What does that mean to us?1️⃣ - #Sentiment is always a wrong indicator. This remains to be valid. Here are a few examples of the recent sentiment:- Prior to the ETF approval, rumours of a potential new ATH of Bitcoin to be reached where stronger and stronger. Ultimately, the potential approval itself was an indication of potential strength of the markets, resulting into the rally from $25K to $49K. However, the strength of the markets was already reflected in the actual #price action, but sentiment always overshoots as emotions are reflected into scenarios, hence why emotions have a bad impact on trading/investing. - The second example was the actual correction from $49K to $39K resulting into a negative sentiment. Why?Outflow on GBTC has been taking place and as a result, the expectations where that this outflow was going to have a continuous negative impact on the markets resulting into a wider correction. Again an example of sentiment overexceeding the #reality.- The third example is the current momentum. The markets are seeing a tremendous amount of interest into the markets based on the inflow in the Spot ETFs. However; does that mean that the interest is going to remain continuous. What if the interest is slowing down? Or the outflow from Grayscale increases? Or other macro-economic impacts are going to have an impact? Emotions always exceed reality and sentiment overshoots the price action by a mile, that's why people start to lose money. Markets are pricing in events at all times, whether you like it or not. 2️⃣ - What should be your gameplan if you want to invest into #Bitcoin? A relatively strict and simple gameplan. You should divide two things when it comes to gameplans.- Trading or swingtrading purposes. Ultimately, a trade is defined on the horizon that you're looking to hold the asset (including the timeframes you're using for your analysis). If your horizon is relatively short, then it might not be +EV to buy an asset that appreciated 35% in 10 days. Same goes for swingtrading purposes.Why is that?Well, let's assume that the risks of a correction have increased. If you think that a correction to $45K has a chance of 30-35% and a potential upwards push to $60K has 60% chance, it might be -EV to actually take the trade. If markets correct from $55K to $46K and are seeing a 20% correction, those odds of an upwards move and downwards continuous correction are flipping more in favour of a long. That's the methodology you should be using when it comes to trading.- Investing purposes. This basically comes down to your risk appetite, and again, horizon. If you want to start investing, I would suggest to wait for a standard 20-40% correction on Bitcoin to happen. You'll tackle a few important points: buying in corrections (the opposite of the sentiment at that point) and being able to control those emotions.However, if your horizon is 2-3 years from now and you suspect to see Bitcoin at $150K+ in that window, then there's no big issue of starting to scale in at these prices. Once again, there's more confirmation to enter the markets in a correction than in an upwards push.Share with your friends