**Market Update:**

Bitcoin's immediate support is at $56,130, while resistance is visible at $58,739. The RSI is above 60, indicating some bullish strength, but it's approaching the overbought zone. The MACD is giving a bullish signal, but caution is advised as it is nearing a reversal zone. Volume remains stable, but there’s no significant surge to suggest strong momentum.

Historically, September has been a weak month for Bitcoin, but due to the anticipated U.S. Federal Reserve rate cut, Bitcoin could close above $60,000, potentially surprising the bears. October has traditionally been a strong month, so recovery is expected, and a breakout could occur in late September or October.

#marketupdate #binance #news #TON

Bitcoin funding rate as of date and time (10 September 2024, 06:22 PM Pakistan time)

**Highest Funding Rate:**
- OKX KISHU/USDT: 0.1216%
- OKX CVX/USDT: 0.0589%
- OKX CTC/USDT: 0.0571%
- OKX JST/USDT: 0.0429%
- Bitget VGX/USDT: 0.0411%

These positive funding rates indicate that long position holders in these pairs are paying short position holders. This means there is more buying pressure in the market or more people are holding long positions, reflecting a bullish sentiment in the market.

**Lowest Funding Rate:**
- Bybit AERGO/USDT: -0.4376%
- Bybit AKT/USDT: -0.2034%
- Bitget AKT/USDT: -0.2028%
- Binance AERGO/USDT: -0.1951%
- Binance REEF/USDT: -0.1773%

These negative funding rates show that short position holders are paying long position holders, which indicates that there is more selling pressure in these markets, or more people are holding short positions, reflecting a bearish sentiment.

Funding rate analysis helps in understanding where the market interest is—bullish (positive rates) or bearish (negative rates). This is useful for traders to gauge future market dynamics and positioning.

#btc #binance #fundingrates #news

**CRYPTO MARKET UPDATE BY TEAM TENUP**
**Pakistan Time: 05:11 PM**

1: **Bitcoin Support Levels** - $53,000 and $49,000 are strong supports (this means there are buyers here).
2: **Bitcoin Resistance** - $57,000 and $61,500 are strong resistance levels (this means there are sellers here, and Bitcoin will likely be sold).

The market depends on Bitcoin, so we have given you an update. You need to make your own plan based on this update regarding what to do with your funds.

———————————————————————

**Analysis**
BTC has support at $53,000 and $49,000. Resistance is at $57,000 and $61,500. Trade with caution and manage your risk according to these mentioned support and resistance levels.

BTC successfully took support at $53,000, and the daily close was above this level. $53,000 remains a valid support level. If this support breaks, the chances of BTC testing $49,000 increase, so exercise caution when the price action is around this level. $57,000 will act as significant resistance, and if BTC manages to close above this level daily, it will be positive for bullish sentiment.

#marketupdate #btc #TechnicalAnalys #binance

**Bitcoin's Current Funding Rate (09 September 2024, 12:38 PM Pakistan Time)**

Funding rate charts help us understand the market sentiment, indicating whether long or short positions are dominating. These rates tell us where the pressure lies and who is paying whom:

- **Highest Funding Rate:** These are the pairs where longs are dominating. OKX SUSHI/USD has the highest funding rate at 0.0422%, meaning longs are in the majority and are paying shorts. This shows that long traders are bullish on these pairs.

- **Lowest Funding Rate:** These are the pairs where shorts are more dominant. OKX CAT/USDT has a funding rate of -0.2357%, indicating shorts are in control and paying longs. This reflects a bearish sentiment.

- **BTC Funding Rate:** Bitcoin’s funding rate is negative at -0.0077%, meaning short positions slightly outweigh longs, signaling a prevailing bearish sentiment. This could indicate market uncertainty or mild bearishness.

These funding rates help traders gauge the prevailing market sentiment and adjust their trading positions accordingly.

FOLLOW FOR MORE UPDATES

#btc #binancenews #latestupdate #fundingrate

**Bitcoin 4 Hour Analysis For Newcomers (09 September 2024, 12:33 PM Pakistan Time)**

This chart shows that BTC is in a consolidation phase, where the price isn’t changing much, indicating stability. The current support level is approximately 54,000, and resistance is around 56,000.

**RSI (Relative Strength Index):** The RSI is at 46, which is in a neutral zone. It’s far from the oversold zone but could move in either direction. If the RSI drops below 30, buying pressure may increase.

**MACD (Moving Average Convergence Divergence):** The MACD has shown a bullish crossover, where the blue line is crossing the orange line, which is a bullish sign. The histogram is moving into positive territory, but the momentum is weak, indicating the market is still in sideways movement.

**Volume:** Volume is low, which is necessary for confirmation. The market's momentum isn’t strong yet, so caution is advised. Movement with high volume will confirm a strong trend.

**Fundamental News:** According to the latest updates, BTC sentiment is currently mixed. US regulatory concerns and global market uncertainty could lead to volatility. Institutional buying also appears to be slow, which could affect price action.

If you are new, be cautious due to the sideways movement and wait for price action confirmation before trading.
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**Bitcoin 4-Hour Analysis for Newcomers (09 September 2024, 02:28 AM Pakistan Time)**

Chart analysis indicates that BTC is currently in a consolidation phase, with the price appearing relatively stable. The immediate support level is around $53,500, while resistance is near $55,500.

- **RSI**: The RSI is around 40, placing it in the neutral zone but not far from being oversold. If it approaches 30, buying pressure could increase.

- **MACD**: The MACD has shown a slight bullish crossover, but there's no strong momentum yet. While the signal line has crossed, the MACD histogram is not highly positive, suggesting a possible sideways or weak bullish move.

- **Volume**: Volume is relatively low, which is crucial for confirmation. The market's momentum isn't very strong at the moment, so proceed with caution.

- **Fundamental News**: The latest updates indicate that BTC sentiment is currently mixed, with concerns over regulatory news from the US and global market uncertainty, which could cause volatility. Institutional buying has also slowed, which could impact price action.

This analysis highlights key technicals and fundamentals to consider for better decision-making.

#bitcoin #Fundamental_Analysis #bitcoin

Bitcoin’s funding rate as of the current date and time (09 September 2024, 02:37 AM Pakistan time):

The funding rate chart shows the market sentiment, indicating whether long positions or short positions are dominating.
- **Highest Funding Rate**: This means that in these pairs, longs are more dominant, so those holding long positions are paying those in short positions. dYdX MATIC/USD has the highest funding rate at 0.1250%, indicating that longs are dominating here.
- **Lowest Funding Rate**: These are the pairs where shorts are dominating, and they are paying those in long positions. Bybit CVC/USDT’s rate is -0.4804%, indicating a significant dominance of shorts.
- **BTC Funding Rate**: Currently, Bitcoin’s funding rate is negative at -0.0067%, showing that short positions are slightly more dominant in the market, and a bearish sentiment is prevailing to some extent.

This funding rate helps gauge the market sentiment and pressure, aiding in trading decisions.

#fundingrates #cryptonews #Newupdates #news

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