- A Whale wallet address borrowed money to buy ETH 16 hours ago, they borrowed another 17.8M $USDC from Aave.
The asset used as collateral for the above loan is $WETH, along with using the loop: Collateral $WETH -> borrow $USDC & $WBTC to buy more $WETH -> use the newly purchased $WETH to continue as collateral.
- Up to now, they have borrowed a total of 20M $USDC & 11M $WBTC and all of them are used to buy $WETH, bringing the total collateralized $WETH volume to 22K $WETH ($51M).
- The health rate of the above loan is quite risky at 1.33, it seems that this Whale is placing a lot of faith in the upcoming price increase of $ETH .
Latest On-chain Corner Update 💡 📉 The number of wallets holding $BTC BTC is the lowest this year, at the lowest level in the past 3 years! This shows that the market activity is showing signs of weakening 🔹But if you remember, 3 years ago, after Bitcoin hit a similar activity bottom, the market exploded strongly and entered an uptrend cycle 🚀. 💰 And although there are not many active wallets left, these wallets are shark wallets with the number of $BTC holding up to hundreds of millions of dollars. $BTC
❎According to Onchain data: The market is currently suffering from a lot of bad news and it is also frequent, so the BTC price is affected and impacted immediately. However, according to the data that I recorded in the remaining image, the large selling forces such as from the German Government, the US and Mt.Gox were all absorbed by the market within 2-3 weeks. ❎So with the impact of FTX officially returning to creditors (total amount up to 16 billion USD at the time of Q4) there will be some negativity at present, but when the absorption is completed, the selling pressure will be less, on the contrary, there will be a new amount of money pouring in,
❎ In terms of technical analysis: Bitcoin has reset the fibo zone 0.618 to the 55,500 mark and has now retracted its beard (In case this 55k5 zone cannot be supported, we will once again have to accept the 52k mark and altcoins will be no different from the end of the world, so this scenario will be the worst case and the probability is also quite low).
✅There is a higher possibility that the current price zone will support $BTC to rise back above 60k❕ 👑Overall, news about BTC and the market is gradually getting better, and the signs are also changing from negative to more neutral $BTC
just dropped to the support level of 55K, currently according to the updated plan, the market will continue to widen the sideways margin, the cash flow is still only flowing to BTC.
- Stablecoin cash flow during the holiday period has been withdrawn from the exchange => loss of liquidity so the price was withdrawn quite quickly in just a few trees of H1.
Not only crypto, other financial indexes are also adjusting. #SP500: down 150 points just yesterday. #NVIDIA: down 18% in just 5 days. => The sensitive transition period between Q3 and Q4 so we need to be very careful during this time.
👮♂️ Brothers holding TON should not worry too much in my personal opinion, TON's case is completely different from Luna and $FTT.
- collapsed due to supply and demand imbalance, while $FTT was due to cash shortage and using users' money to invest at a loss.
- CEO#Telegramwas arrested on charges of trafficking in weapons, drugs, etc. But I think this is just the surface reason, the underlying cause may be related to political conflicts. - Many parties may want to control Pavel Durov to exploit information, because#Telegramis a highly secure social network used by many organizations to exchange internal information.
- If#Telegramovercomes this storm, the growth potential of the TON ecosystem TON is still very large. Money is pouring into the crypto market and#Telegramhas a huge number of users. With the success of NOT or DOGS, there may be BLUM, HAMSTER,... in the near future
- An ecosystem that wants to grow strongly needs a strong community, I still believe that $TON will be a prominent Blockchain in this uptrend season
➡️ Historically, Bitcoin $BTC BTC tends to DUMP in September, which is often compared to the annual Mid-Autumn Festival lantern release event. ➡️ In addition, this September the Fed is expected to cut interest rates for the first time, which is likely to cause major fluctuations in the financial market, so you can consider controlling your risks.
🔥 Analysis: $BTC BTC touches the strong support zone of 61-62k! 🔥 🔹$BTC just touched the STRONG support zone at 61-62k and reacted immediately. But don't be too happy, be careful, because if this level fails, the price can fall deeper to the second support zone on the chart ⚠️ 🔹On the other hand, the 62k level has become a hot spot with DENSE liquidation orders, like a "bait" to pull the price down before bouncing back. This is both an opportunity and a potential risk.
On the spot side, there was steady accumulation and even strong buying force yesterday morning, causing the price to grow.
On the other hand, with the#SECdelay in approving $ETH's S1 application, the price dropped afterward. However, it will not be moved past August 7. -> The news has calmed down
With this factor, we will combine with Fibo on PTKT to enter a short long position in the range of 3400 - 3430$ --------------------------------------- In the worst case scenario, if $BTC quickly closes the gap at 60k6 - 62k, $ETH will likely reduce the liquidation to $3340
In short, Luong will wait for a long and short adjustment Region 1: 3400 - 3430 Region 2: 3320 - 3340
Remember, this is reference information, please add your own witnesses, comrades!
💥Bitcoin history shows that if June is red, 100% July will be green for the entire market.
💥Currently, short-term $BTC has confirmed its reversal and created a bottom around 59-60k, around the old support of 56k. Candle W created a pretty beautiful withdrawal candle above the EMA (Figure), the current situation has a brighter door for the uptrend to continue.
💥Although last June's candlestick created a pretty bad candlestick, more objectively we can see that this rhythm is still in the Sideway zone. Expect this turnaround to reach $68-70k. If candle D closes above 70k$ , everything will be very Bullish again. 🚀
💥I still put the door up and just looked at it, the spot has also added more goods. Even though I don't believe in Altcoin, I do believe in the *Cycle* of this market - Expensive lessons of 2017 and 2020
4 YEAR CYCLE OF THE CRYPTO MARKET. [1] Period June 2020 - November 2020: most altcoins were pumped x3-x5 times after BTC approached the old peak of $20,000. Then there is a 2-month period of altcoins dividing 4-5 times => the next wave of altcoins x10-20 times. [2]: Period October 2023 - March 2024: Altcoins are also pumped x3-x5 times in sync with the process of breaking BTC's peak, many projects still have x10-x15 such as FET, TRU,... And already 2 months for altcoin to split 4-5 times (for new coins) and 2-3 times (for old coins). If anyone believes in the 4-year cycle, the market is currently going very similar to 2020, from pumping method to pumping process. This gloom may last until August 7 and will turn sharply higher when the FED begins to reduce interest rates. Or it will increase slowly in July and rebound strongly in September-October.
Currently, BTC has fake dumped the EMA segment and is close to the liquidation zone as commented on June 14
The weekly frame shows that BTC is still quite nice, the correction in the past few days has reset all the efforts of the young fish within 2 months. Let me ask if the market will adjust again or not? Where is the bottom? No one can tell you with 100% certainty!
But I know the liquidation zone 64k9 - 62k3 will be a beautiful price zone, for 3 reasons: - Matches Fibo 0.618 - 0.786 - Hidden support on H4 and D1 + EMA frames - Huge liquidation volume
Additionally: - On Saturday, $1B was minted again => Expect this week there will be a recovery for BTC + Altcoin - BTC.D W frame diverges, it is expected that in the next few days there will be a corrective rhythm, creating a premise for the market to go up
Expected: - Short term BTC closes above 66,983, forming a Dominant Break for Buy - Long term Break out through the huge liquidation zone above 72k to advance to further milestones.