Professional Binance trader on Binance Smart Chain. Sharing insights and strategies for successful trading. Stay informed, trade smart, and maximize profits. 🚀
Una ballena con 1,701 $BTC (equivalentes a $115.42M) despertó después de 10 años de inactividad y transfirió 246 $BTC (valorados en $16.73M) hace 20 minutos. La ballena recibió 4,272 $BTC (que en 2013 valían $125,541) a un precio promedio de solo $29.39. La dirección de la transacción es: 1CLxmHRhoi9VpSj5QihqPEdbhLL8E1oeUZ.
1. The Bitcoin Halving event is only 13 days away. 2. After the first halving, Bitcoin's price increased by 9,900%. 3. After the second halving, Bitcoin's price surged by 2,900%. 4. After the third halving, Bitcoin's price went up by 700%. 5. We can't predict for sure how much Bitcoin will increase after this halving, but history shows significant price jumps following previous halving events.
U.S. Added 303K Jobs in March, Outpacing Expectations for 200K
The U.S. jobs market continues to exhibit strength with the government reporting the addition of 303,000 jobs last month. That's the strongest headline number since May 2023 and easily topped economist forecasts for 200,000 and February's 270,000 additions (revised from a previously reported 275,000).
The unemployment rate in March dipped to 3.8% against expectations for 3.9% and February's 3.9%.
The price of bitcoin {{BTC}} fell about 0.5% in the minutes following Friday morning's report to $66,000. In traditional markets, U.S. stock index futures gave up a chunk of earlier gains, but are still modestly higher. The 10-year U.S. Treasury yield rose 6.5 basis points to 4.38% and the dollar index added 0.5%.
Coming into 2024, markets had priced in as many as five or six U.S. Federal Reserve rate cuts to begin as soon as March. The economic data, however, hasn't cooperated. Inflation has actually risen somewhat in the first quarter of the year and job growth has remained robust.
March has obviously come and gone with no rate cut and traders ahead of today's numbers had moved expectations of the first rate cut to June or July, according to the CME FedWatch Tool. A total of just three rate cuts are expected for the full year and even that could be too much.
Speaking yesterday, Minneapolis Fed President Neel Kashkari suggested the possibility of no rate cuts at all in 2024. His remarks prompted a sharp reversal in stocks, with the major averages closing down more than 1%. Just following today's numbers, swaps trading indicated expectations for the first rate cut had moved out to September.
Checking other report details, the labor force participation rate rose to 62.7% from 62.5%, suggesting sizable numbers of people returning to the workforce. Average hourly earnings rose 0.3% in March, in line with expectations and up from 0.2% in February. On a year-over-year basis, average hourly earnings rose an in line 4.1%, down from 4.3% in February.
Bitcoin, the world's largest cryptocurrency by market capitalization, has attracted a growing number of traders seeking to capitalize on its price volatility. To succeed in Bitcoin trading, it is essential to employ effective strategies that align with your risk tolerance and investment goals. In this article, we will explore some of the best strategies to consider when trading Bitcoin.
1. Trend Trading: Trend trading involves analyzing the price chart of Bitcoin to identify and follow prevailing trends. Traders who employ this strategy aim to enter positions when the price is trending upward (bullish) or downward (bearish) and exit before the trend reverses. Technical indicators and chart patterns can help identify trends and provide entry and exit signals. However, it is crucial to conduct thorough analysis and manage risk effectively to mitigate potential losses.
2. Swing Trading: Swing trading focuses on capturing short to medium-term price movements within an established range. Traders using this strategy aim to profit from Bitcoin's price oscillations between support and resistance levels. By identifying key levels and employing technical analysis tools, such as moving averages and oscillators, swing traders can enter and exit positions based on potential reversals or breakouts. Risk management and setting appropriate stop-loss orders are vital components of successful swing trading.
3. Breakout Trading: Breakout trading involves entering positions when Bitcoin's price breaks out of a well-defined range or pattern. Traders using this strategy anticipate increased volatility and momentum following a breakout, which can lead to significant price movements. It is essential to wait for confirmations, such as increased trading volume and price continuation, before entering a breakout trade. Effective risk management, including setting stop-loss orders and trailing stops, is critical due to the potential for false breakouts. $BTC $ETH $BNB #Binance #NFT #Metaverse #Web3
Binance Stops Support for Bitcoin NFTs Citing 'Streamlining' of Offered Products
Trading volume for NFTs is at multi-year lows.
Bitcoin NFTs caused widespread network congestion in December.
Binance users will not be eligible for future Bitcoin NFT airdrops.
Cryptocurrency exchange Binance will cease support for Bitcoin-based non-fungible tokens (NFTs) as it undergoes a process to "streamline" its product offerings.
"Users are advised to withdraw their Bitcoin NFTs from the Binance NFT Marketplace" before May 18, Binance wrote in a blog post.
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It added that users will not be eligible for future airdrops related to NFTs hosted on the Bitcoin network.
Despite a resurgence at the tail end of last year, several metrics, including the amount of unique buyers and trading volume in USD have slumped to multi-year lows, data from non-fungible.com shows.
Bitcoin NFTs are generated through a method called inscriptions, which inscribes references to digital art into small Bitcoin-based transactions.
In December, Bitcoin NFTs caused widespread network congestion, something that "exposed a vulnerability" in the network, according to Luke Dashjr, a Bitcoin Core developer.
The interest in Bitcoin NFTs has since waned. Still, investment continues to pour into the sector, with Bitcoin Ordinals wallet Oyl raising $3 million last month from the likes of Arthur Hayes and BRC-20 creator Domo.
Bitcoin Back Down to $66K As Rising Treasury Yields Catch Investor Interest
Bitcoin hovers near $66,000, with the CoinDesk20 Index signaling broader market weakness.
Crypto futures rates and open interest have decreased, signaling a potential end to a two-month rally.
Bitcoin {{BTC}} held on to losses during the Asian trading hours on Tuesday, trading at around $66,000, as traders digested resurgent Treasury yields and the possibility that the Fed might delay rate cuts until later this year.
At the time of writing, ether {{ETH}} changed hands above $3,300, while the CoinDesk 20 (CD20) was down 0.6% to 2,532.
The yield on the 10-year Treasury note clocked a two-week high of 4.40% overnight due to persistent inflation and unexpectedly strong manufacturing activity. An uptick in the so-called risk-free rate typically spurs an outflow of money from risk assets and zero-yielding investments like gold. The yellow metal, however, remained resilient amid the weak tone in bitcoin and Wall Street’s tech-heavy index, Nasdaq.
“Bitcoin retraced down to $65,000, mostly attributed to the recent macro outlook on interest rates and rising Treasury yields,” Semir Gabeljic, director of capital formation at Pythagoras Investments, said in an email interview. “Higher interest rate environments typically tend to reduce investor appetite to risk.”
On Polymarket, bettors have ruled out a rate cut by May and are split 50-50 on whether one will happen in June. Most of the certain money is on it happening in the fall.
The CME Fed Watch tool has a 97% chance of rates staying the same after May’s meeting.
Coinglass data shows that over $245 million in long positions have been liquidated in the last 24 hours, with $60 million in BTC positions getting rekt.
“Perpetual futures funding rates for most crypto assets are back to 1bps, and global futures open interest decreased by 10 percent overnight, indicating some leveraged long positions are closed,” Jun-Young Heo, a Derivatives Trader at Singapore-baed Presto, added.
“As recent bitcoin ETF inflows are stagnating and BTC and ETH market prices came below the 20-day moving average, some trend followers would have regarded yesterday’s downturn as the end of a two-month-long rally,” he continued.
Title: Ethereum Dominates NFT Market with $10.48 Million in Sales
According to data from CryptoSlam, Ethereum solidified its position as the leading platform in the non-fungible tokens (NFT) market by generating $10.48 million in sales within a 24-hour period ending at 12 p.m. ET on Thursday. Ethereum also holds the record for the highest all-time NFT sales at $43.46 million. With a remarkable 42% surge in sales volume, Ethereum emerged as the sole blockchain to surpass $10 million in sales for the day.
One noteworthy contributor to Ethereum's success was the Pandora collection, which consists of 10,000 "Replicants" created using the ERC-404 experimental token standard. This collection experienced an impressive surge of 279%, generating $1.61 million in sales.
On Thursday, all NFT collections that achieved at least $1 million in sales were exclusively on the Ethereum platform. In contrast, both Bitcoin and Solana, ranking second and third respectively, witnessed a decline in sales during the same period.
Bitcoin's NFT market experienced a downturn, with sales dropping by 22.41% to reach $6.61 million. Similarly, Solana, holding the third position, encountered an 18.32% decline in sales, totaling $6.12 million.
Polygon, occupying the fourth spot, encountered a significant sales drop of 29.31%, with sales amounting to $784,579. This slump on Thursday hindered Polygon's progress towards reaching its $1.5 billion NFT sales milestone, which is approximately $4.3 million shy of the target.
In summary, Ethereum's dominance in the NFT market was evident as it outperformed other platforms, making $10.48 million in sales within a day. The success was aided by the surge in sales from the Pandora collection. Meanwhile, Bitcoin, Solana, and Polygon experienced declines in their respective NFT sales.
Bitcoin Algos Tracking ETF Flows Cited for Token’s Swings in Asia
In recent days, the level of demand for spot-Bitcoin exchange-traded funds (ETFs) has been closely monitored in the crypto market. Asian trading hours have seen a decline in Bitcoin prices as investors withdraw their funds from these ETFs. This data is automatically scraped by algorithmic trading bots, which then make buying and selling decisions based on the information. The introduction of US Bitcoin ETFs in January has attracted a net inflow of $12 billion so far, with the highest level of inflows occurring in the first half of March. However, there have been periods of outflows since then, and Bitcoin is currently down 11% from its all-time high.
The impact of algorithmic protocols offloading Bitcoin has spilled over into the derivatives market, leading to the liquidation of approximately $354 million worth of bullish crypto bets on Tuesday. Compared to gold, Bitcoin has a higher proportion (5.5%) of its total supply held in ETFs. Consequently, ETF flows are considered more significant for Bitcoin than for gold. Bitcoin experienced a nearly 6% drop on Tuesday and is still struggling to gain momentum, partly due to diminishing expectations of Federal Reserve interest-rate cuts. However, some traders believe that the upcoming halving of new Bitcoin tokens this month could support prices.
Jakob Kronbichler, co-founder of Clearpool Finance, noted that market behavior has been influenced by ETF flow numbers, and the recent correction in Bitcoin prices is seen as a natural breather for the market after weeks of excitement.
CoinDesk: Crypto Market Witnesses $400 Million in Liquidations as Solana and Dogecoin Lead the Decline
In the last 24 hours, major cryptocurrencies have experienced a significant drop, with Bitcoin falling by 5%. Other major tokens, including Ether, Cardano's ADA, and BNB Chain's BNB, also suffered similar losses.
Long positions, which bet on higher prices, saw liquidations exceeding $400 million, while shorts, or bets against the market, recorded relatively smaller liquidations totaling $85 million.
Bitfinex analysts predict that Bitcoin will likely remain range-bound in the coming weeks as long-term investors continue to sell off their holdings.
The decline in major tokens, including Bitcoin, Ether, Cardano's ADA, and BNB Chain's BNB, reached as much as 8% in the past 24 hours. This reversal in Bitcoin's gains was attributed to selling pressure caused by a stronger dollar, resulting in the liquidation of over $400 million in bullish bets.
Bitcoin fell by 5%, while Ether, Cardano's ADA, and BNB Chain's BNB also experienced similar losses. Solana's SOL dropped by 7%, trading at $185 after briefly reaching $200 on Monday, while Dogecoin fell by over 8%. Bitcoin Cash's BCH experienced a 10% decline due to profit-taking following a 40% rally in the past week, driven by the expected halving event for the network on April 4.
The CoinDesk 20, a comprehensive index tracking major tokens excluding stablecoins, witnessed a decline of just over 5%.
Liquidations of long positions, which bet on higher prices, exceeded $400 million, while shorts, which bet against the market, recorded liquidations of $85 million. Liquidation occurs when a trader does not have enough funds to maintain a leveraged trade.
Bitcoin faced further weakness as it broke below the $68,000 support level on April 1, falling 5.38% to trade at $66,700. Institutional outflows from spot Bitcoin ETFs continued after the Easter weekend, potentially adding more downward pressure to the cryptocurrency's price.
On April 1, the Grayscale Bitcoin Trust (GBTC) experienced outflows of $302.6 million, while BlackRock's IBIT and Fidelity's FBTC saw inflows of $165.9 million and $44 million, respectively, resulting in a net outflow of $85.7 million.
Singapore-based trading firm QCP Capital warned of increased downward pressure across cryptocurrency spot markets, noting that the crypto options market provided early insight into the sell-off. Selling calls and buying puts for Bitcoin and Ethereum put further pressure on spot prices.
The sell-off in BTC and other crypto assets was attributed to large liquidations on exchanges like Binance, with perpetual contracts funding rates resetting from high levels to flat. Examining Binance's exchange order book liquidity, trading resource Material Indicators revealed a challenging outlook for Bitcoin's price action, with increasing bid liquidity toward $60,000 and indications that "smart money" had placed bids as low as $62,000.
Overall, Bitcoin's decline below the $68,000 support level, ongoing institutional outflows, and downward pressure in the spot market have contributed to its recent weakness. The dynamics in the crypto options market and the effects of liquidations on exchanges like Binance are additional factors influencing the cryptocurrency's price movements.
The value of the digital asset dropped by as much as 5.7%, briefly falling below $66,000 for the first time since March 24. This decline is part of a broader trend in the crypto market, which is losing momentum due to concerns about US inflation and a potential decrease in Federal Reserve interest rates. The sell-off has affected various sectors, including meme-related assets. Bitcoin, in particular, has seen a 10% decrease since reaching its peak in mid-March. The recent weak economic data from the US, along with increased input costs, has further contributed to the market's decline. Despite expectations of a halving in the supply of new Bitcoin tokens, some traders believe that further gains may be challenging to achieve, given the significant price increase already experienced.
Bitcoin, Ethereum, and Bonk Experience a Price Decline Amidst Market Volatility
Cryptocurrencies are once again experiencing significant volatility, with Bitcoin (BTC), Ethereum (ETH), and Bonk (BONK) all seeing a decline in value. Despite the 24/7 trading nature of the crypto market, the long holiday weekend in some parts of the world has contributed to the downward trend. Additionally, the release of the ISM factory index, indicating an improvement in the manufacturing market, has impacted investor sentiment. Factors such as inflation, interest rates, and the anticipation of ETF approvals have also played a role in the decline.
Inflation and Economic Factors - The impact of the ISM factory index on market sentiment - Perception of a stable economy and potential implications for interest rates - The correlation between technology stocks, high-growth stocks, and cryptocurrencies
ETFs and Regulatory Environment - The role of Bitcoin ETFs in the industry and recent outflows - Speculation surrounding the approval of Ethereum ETFs - Uncertainty in the current regulatory environment and its impact on cryptocurrencies
Bonk and Meme Coins - Bonk as a meme coin alternative to Dogecoin - Speculative nature of meme coins and their potential longevity - Factors contributing to Bonk's price decline
Future Outlook - Assessment of major catalysts in 2024 and their impact on the crypto market - The role of fundamentals in driving the market and potential challenges - Possibility of a decline in all three cryptocurrencies as investors seek more fundamental value
The recent price decline in Bitcoin, Ethereum, and Bonk reflects the ongoing volatility in the crypto market. Factors such as economic indicators, interest rates, ETFs, and regulatory uncertainties have contributed to the downward trend. While the future remains uncertain, investors may look for more fundamental value in the market as they assess the long-term prospects of these cryptocurrencies.#ETFbitcoin
Option2Trade (O2T): Redefining the Crypto Landscape with Artificial Intelligence
The world of cryptocurrencies has been captivated by the emergence of Option2Trade (O2T), a new token driven by artificial intelligence. Enthusiasts and skeptics alike are drawn to O2T's potential to rival the market cap of industry giants such as Bitcoin (BTC) and Ethereum (ETH). Initially met with skepticism, O2T's unique proposition and capabilities have sparked a newfound obsession among critics, indicating a potential seismic shift in the crypto landscape that could challenge the dominance of BTC and ETH.
Evolving Beyond Bitcoin (BTC) and Ethereum (ETH) - Bitcoin's revolutionary impact on digital money and Ethereum's introduction of smart contracts - The need for scalability, transaction speeds, and adaptability in complex financial operations - Option2Trade (O2T) leveraging artificial intelligence to address these challenges
The AI Advantage of Option2Trade (O2T) - The core of Option2Trade (O2T) powered by artificial intelligence - Optimization of trading strategies, enhanced security protocols, and personalized user experiences - Anticipating market trends, providing predictive analytics, and automating trades with precision and efficiency
Section 3: Challenging the Giants - Market cap aspirations and the dominance of Bitcoin (BTC) and Ethereum (ETH) - Option2Trade (O2T) presenting a compelling case for rapid growth and adoption - The potential for O2T to rival the market cap standings of BTC and ETH through superior utility and innovation
Option2Trade (O2T) is reshaping the crypto landscape with its innovative integration of artificial intelligence. As the interest and fascination surrounding O2T continue to grow, it poses a formidable challenge to the established dominance of Bitcoin (BTC) and Ethereum (ETH). With its unique capabilities and potential for market cap growth, O2T has the potential to redefine the future of cryptocurrencies.
Unleashing the Potential of PEPE: A Guide to Successful Trading on Binance
In the rapidly evolving world of cryptocurrencies, PEPE has emerged as a promising digital asset on the Binance Smart Chain. With its unique features and potential for growth, trading PEPE presents a thrilling opportunity for investors. This article aims to explore the future potential of PEPE currency and provide valuable insights on how to trade successfully on the Binance platform.
Section 1: The Rise of PEPE - Unveiling the origins and concept behind PEPE currency - Exploring the key features that set PEPE apart from other cryptocurrencies - Analyzing the market trends that have contributed to the rise of PEPE
Section 2: PEPE's Future Potential - Identifying the factors that could drive the future growth of PEPE - Examining the partnerships and developments that enhance PEPE's ecosystem - Discussing the potential impact of decentralized finance (DeFi) on PEPE's value
Section 3: Strategies for Successful Trading on Binance - Understanding the basics of trading on the Binance platform - Exploring the different trading strategies suitable for PEPE currency - Highlighting risk management techniques to minimize losses and maximize profits
Section 4: Expert Tips and Insights - Interviewing experienced traders and industry experts for their perspectives - Sharing actionable tips and tricks to stay ahead in the PEPE trading game - Discussing the importance of staying updated with market news and analysis
As the crypto market continues to evolve, PEPE currency stands out as an exciting and potentially lucrative investment opportunity on the Binance Smart Chain. By leveraging the insights and strategies shared in this article, traders can position themselves for success in the dynamic world of PEPE trading. Stay informed, trade wisely, and unlock the full potential of PEPE!