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🚨📉 BITCOIN CASH GIVES WARNING SIGNAL AHEAD OF BTC HALVING EVENT! 🚨💥
As Bitcoin's fourth mining reward halving approaches in just eight days, the cryptocurrency market is on edge. Historically, such events have heralded bullish periods for Bitcoin, but its offshoot, #Bitcoin Cash (BCH), is painting a cautionary picture, urging traders to temper their expectations for an immediate price surge post-halving.
The rally in #BCH triggered by its parent blockchain's halving of per-block coin emission to 3.125 BCH on April 4, quickly lost steam as prices retreated by 15% to $604. Adding to the concern, notional open interest in BCH perpetual futures has plummeted by a staggering 70% to $376 #million in just seven days, with funding rates turning negative, indicating a shift in sentiment towards bearishness.
Algorithmic trading firm #Wintermute suggests that BCH's recent activity may foreshadow potential selling pressure for BTC post-halving. Analysts have long cautioned about a "sell the news" scenario for BTC, with JPMorgan anticipating a pullback to $42,000 once the halving hype fades.
Despite BTC's current price of $70,700, representing a substantial 67% year-to-date gain, concerns linger about post-halving miner sales potentially dampening bullish momentum. Markus Thielen, founder of 10X Research, estimates that miners could liquidate $5 billion worth of BTC after the halving, potentially leading to a sideways market for several months.
Will the bitcoin price skyrocket or crash after the halving event?
👇 Drop your opinion in the comments
As Bitcoin's fourth mining reward halving approaches in just eight days, the cryptocurrency market is on edge. Historically, such events have heralded bullish periods for Bitcoin, but its offshoot, #Bitcoin Cash (BCH), is painting a cautionary picture, urging traders to temper their expectations for an immediate price surge post-halving.
The rally in #BCH triggered by its parent blockchain's halving of per-block coin emission to 3.125 BCH on April 4, quickly lost steam as prices retreated by 15% to $604. Adding to the concern, notional open interest in BCH perpetual futures has plummeted by a staggering 70% to $376 #million in just seven days, with funding rates turning negative, indicating a shift in sentiment towards bearishness.
Algorithmic trading firm #Wintermute suggests that BCH's recent activity may foreshadow potential selling pressure for BTC post-halving. Analysts have long cautioned about a "sell the news" scenario for BTC, with JPMorgan anticipating a pullback to $42,000 once the halving hype fades.
Despite BTC's current price of $70,700, representing a substantial 67% year-to-date gain, concerns linger about post-halving miner sales potentially dampening bullish momentum. Markus Thielen, founder of 10X Research, estimates that miners could liquidate $5 billion worth of BTC after the halving, potentially leading to a sideways market for several months.
Will the bitcoin price skyrocket or crash after the halving event?
👇 Drop your opinion in the comments
🚨📉 BITCOIN CASH GIVES WARNING SIGNAL AHEAD OF BTC HALVING EVENT! 🚨💥
As Bitcoin's fourth mining reward halving approaches in just eight days, the cryptocurrency market is on edge. Historically, such events have heralded bullish periods for Bitcoin, but its offshoot, #Bitcoin Cash (BCH), is painting a cautionary picture, urging traders to temper their expectations for an immediate price surge post-halving.
The rally in #BCH triggered by its parent blockchain's halving of per-block coin emission to 3.125 BCH on April 4, quickly lost steam as prices retreated by 15% to $604. Adding to the concern, notional open interest in BCH perpetual futures has plummeted by a staggering 70% to $376 #million in just seven days, with funding rates turning negative, indicating a shift in sentiment towards bearishness.
Algorithmic trading firm #Wintermute suggests that BCH's recent activity may foreshadow potential selling pressure for BTC post-halving. Analysts have long cautioned about a "sell the news" scenario for BTC, with JPMorgan anticipating a pullback to $42,000 once the halving hype fades.
Despite BTC's current price of $70,700, representing a substantial 67% year-to-date gain, concerns linger about post-halving miner sales potentially dampening bullish momentum. Markus Thielen, founder of 10X Research, estimates that miners could liquidate $5 billion worth of BTC after the halving, potentially leading to a sideways market for several months.
Will the bitcoin price skyrocket or crash after the halving event?
👇 Drop your opinion in the comments
As Bitcoin's fourth mining reward halving approaches in just eight days, the cryptocurrency market is on edge. Historically, such events have heralded bullish periods for Bitcoin, but its offshoot, #Bitcoin Cash (BCH), is painting a cautionary picture, urging traders to temper their expectations for an immediate price surge post-halving.
The rally in #BCH triggered by its parent blockchain's halving of per-block coin emission to 3.125 BCH on April 4, quickly lost steam as prices retreated by 15% to $604. Adding to the concern, notional open interest in BCH perpetual futures has plummeted by a staggering 70% to $376 #million in just seven days, with funding rates turning negative, indicating a shift in sentiment towards bearishness.
Algorithmic trading firm #Wintermute suggests that BCH's recent activity may foreshadow potential selling pressure for BTC post-halving. Analysts have long cautioned about a "sell the news" scenario for BTC, with JPMorgan anticipating a pullback to $42,000 once the halving hype fades.
Despite BTC's current price of $70,700, representing a substantial 67% year-to-date gain, concerns linger about post-halving miner sales potentially dampening bullish momentum. Markus Thielen, founder of 10X Research, estimates that miners could liquidate $5 billion worth of BTC after the halving, potentially leading to a sideways market for several months.
Will the bitcoin price skyrocket or crash after the halving event?
👇 Drop your opinion in the comments
🪙 #Solana MEV Bot Secures $1.7M from a Single Dogwifhat Trade
A Solana-based Maximum Extractable Value (MEV) bot earned $1.7 million in profit from a single trade involving the #memecoin Dogwifhat (WIF).
💰 The bot operated by 2fast executed a strategy of buying 490,000 WIF for 703 #SOL and then selling it for 19,035 SOL within the same transaction bundle.
This trade occurred following a large $8.9 #million purchase of WIF by a trader in a low-liquidity pool, which momentarily spiked WIF's price.
The trader suffered a significant loss, while the MEV bot capitalized on this opportunity.
A Solana-based Maximum Extractable Value (MEV) bot earned $1.7 million in profit from a single trade involving the #memecoin Dogwifhat (WIF).
💰 The bot operated by 2fast executed a strategy of buying 490,000 WIF for 703 #SOL and then selling it for 19,035 SOL within the same transaction bundle.
This trade occurred following a large $8.9 #million purchase of WIF by a trader in a low-liquidity pool, which momentarily spiked WIF's price.
The trader suffered a significant loss, while the MEV bot capitalized on this opportunity.
- Canaan, a major high-performance computing and mining rig producer, is facing obstacles that will impact its bitcoin mining operations and revenue from Q3 2023 onwards.
- Regulatory changes in Kazakhstan have led #Canaan to reduce its mining power by 2 exahash per second (EH/s) since July, which is half of its mining power across Central Asia and North America.
- In addition to Kazakhstan's #regulatory challenges, Canaan is dealing with a contractual dispute with a hosting partner in the US over alleged violations of a joint mining agreement.
- The allegations against the hosting #partner include mishandling 13,000 of Canaan's Avalon mining rigs and demanding reimbursement of a $1.25 #million deposit and claimed bitcoin profits.
- These challenges from both #Kazakhstan and the US are expected to significantly impact Canaan's mining capacities in Q3 2023.
- Despite these setbacks, Canaan is committed to adapting its approach to address operational challenges in the volatile cryptocurrency industry.
- These developments come after Canaan's earlier announcement about a new product launch to commemorate its decade in the industry, which is set to coincide with rival Bitmain's Antminer machine launch.
- Canaan's stock has experienced a 28% decline against the US dollar over the past month amidst these challenges.
$BTC
- Regulatory changes in Kazakhstan have led #Canaan to reduce its mining power by 2 exahash per second (EH/s) since July, which is half of its mining power across Central Asia and North America.
- In addition to Kazakhstan's #regulatory challenges, Canaan is dealing with a contractual dispute with a hosting partner in the US over alleged violations of a joint mining agreement.
- The allegations against the hosting #partner include mishandling 13,000 of Canaan's Avalon mining rigs and demanding reimbursement of a $1.25 #million deposit and claimed bitcoin profits.
- These challenges from both #Kazakhstan and the US are expected to significantly impact Canaan's mining capacities in Q3 2023.
- Despite these setbacks, Canaan is committed to adapting its approach to address operational challenges in the volatile cryptocurrency industry.
- These developments come after Canaan's earlier announcement about a new product launch to commemorate its decade in the industry, which is set to coincide with rival Bitmain's Antminer machine launch.
- Canaan's stock has experienced a 28% decline against the US dollar over the past month amidst these challenges.
$BTC
- Venture capital (VC) investment in July decreased by 10.26% compared to the previous month.
- The total funds raised through VC in July amounted to $700 million.
- Influential macro factors like potential Federal Reserve rate hikes and geopolitical events are impacting VC decisions.
- Many companies are holding substantial cash reserves due to these uncertainties.
- Infrastructure #projects secured $279 #million in #funding from 24 deals during July.
- Decentralized #Finance (DeFi) #projects garnered $140.1 million from 19 deals in the same period.
- The total funds raised through VC in July amounted to $700 million.
- Influential macro factors like potential Federal Reserve rate hikes and geopolitical events are impacting VC decisions.
- Many companies are holding substantial cash reserves due to these uncertainties.
- Infrastructure #projects secured $279 #million in #funding from 24 deals during July.
- Decentralized #Finance (DeFi) #projects garnered $140.1 million from 19 deals in the same period.
😍🥶 AMAZING !!! 💥 #LayerZero Labs closed a $120 #million Series B round, raising its valuation to $3 #billion from $1 billion.
This is the last ARK pump for today. Be ready for Bearish.
Entry 0.98-0.99
TP- 0.85 to 0.75
#CryptoTradingStrategy #crypto #cryptomillionaire #million #binance
Entry 0.98-0.99
TP- 0.85 to 0.75
#CryptoTradingStrategy #crypto #cryptomillionaire #million #binance
