Fight the whales lol..... | Bilal Ashraf on Binance Square

Trending Articles

Bookmarked and Liked

--

Fight the whales lol.....

Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.

30

0

Replies 0

Explore the latest crypto news

⚡️ Be a part of the latests discussions in crypto

💬 Interact with your favorite creators

👍 Enjoy content that interests you

Email / Phone number

Relevant Creator

@bilalashraf

Explore More From Creator

Bitcoin Warning Issued by Crypto Analyst Amid BTC Price Surge to $58,000 Bitcoin (BTC), the largest cryptocurrency by market capitalization, rose to highs of $58,487 in the early Thursday trading session. However, amid this price rise, a prominent crypto analyst has issued a warning, urging caution as the market heats up. According to Julio Moreno, Head of Research at CryptoQuant, valuation metrics indicate that the price of Bitcoin remains bearish. Moreno stated that Bitcoin is still in a bear phase and has decoupled from gold as investors switch to risk-off mode. Bitcoin remains in a bear phase and it has decoupled from Gold as investors switch to risk-off mode. In its recent analysis, CryptoQuant highlighted that the Bull-Bear Market Cycle Indicator has been in a bear phase since Aug. 27, when the price of Bitcoin was $62,000. A significant rally is unlikely to occur as long as the indicator stays in the bear phase. Similarly, the MVRV ratio has fallen below its 365-day moving average since Aug. 26. A cross below the 365-day moving average indicates the possibility of a further price correction. This situation was also present in May 2021, when Bitcoin fell 36% over two months, and in November 2021, when the last bear market began. Bearish signs are also evident in Bitcoin long-term holders (LTH) spending at lower profit margins. The LTH SOPR ribbons have been drifting lower since late July. The fact that LTHs are spending at lower profit margins demonstrates a lack of new demand for Bitcoin. Bitcoin briefly hits $58,000 Bitcoin (BTC) surpassed $58,000 in early Thursday trade, driven by a surge in U.S. equities and gains in the Asian share market. U.S. inflation data for August bolstered bets on a Federal Reserve rate drop in the coming weeks, with core inflation rising faster than expected to more than 0.3%. At the time of writing, BTC was up 2.18% in the last 24 hours to $58,025. However, spot bitcoin exchange-traded funds (ETFs) in the United States returned to outflows on Wednesday, following a two-day inflow streak, losing $43 million.

--

“Pretty soon, $44 billion won’t be worth that much anyway.” - Elon Musk on fiat money

--

Who needs banks when you can self-custody your assets

--

HamsterKombat Listing On #Binance ✅✅ $95,000 $USDT Airdrop to celebrate #HamsterKombat #Binance Listing from @HamsterAlerts 🎉🎉

--

Introducing, @hamster_kombat $HMSTR on #Binance Launchpool and Super Earn.

--

Latest News

OpenAI Launches Advanced AI Model O1 With Enhanced Reasoning Capabilities

--

Bitcoin(BTC) Drops Below 58,000 USDT with a Narrowed 0.87% Increase in 24 Hours

--

Northern Trust Launches Institutional Carbon Credit Ecosystem

--

Cypherpunk Holdings Rebrands To Sol Strategies With Focus On Solana Investments

--

Puff Implements Cross-Chain Interoperability With LayerZero's OFT Protocol

--

Trending Articles

🔥😱DOGS Token Drives Unprecedented Blockchain Activity on TON Platform🪂🐾

Former Alameda Research CEO Caroline Ellison’s Attorneys Seek Leniency Ahead of Sentencing

UK Introduces Bill to Legalize Crypto Ownership

Binance Partners With CoinMarketCap to Introduce a Token Unlocking and Vesting Schedule Feature

Bitcoin's Next BIG Move: Is a CRASH to $48K Coming or a BULL Run to $64K?

Cookie Preferences

ba-one-trust-cookie