LIVECryptoMatrixx
@Square-Creator-56f295308
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Dear Followers,
I am incredibly grateful and excited to share that we have reached a remarkable milestone of 10,000 followers! 🎉 This achievement wouldn't have been possible without each and every one of you.
Your support, engagement, and enthusiasm have been the driving force behind this journey. Whether you've been here from the beginning or just joined, thank you for being a part of this amazing community. Your likes, comments, shares, and messages mean the world to me.
Let's continue to grow, learn, and inspire each other. Here's to many more milestones together!
I am incredibly grateful and excited to share that we have reached a remarkable milestone of 10,000 followers! 🎉 This achievement wouldn't have been possible without each and every one of you.
Your support, engagement, and enthusiasm have been the driving force behind this journey. Whether you've been here from the beginning or just joined, thank you for being a part of this amazing community. Your likes, comments, shares, and messages mean the world to me.
Let's continue to grow, learn, and inspire each other. Here's to many more milestones together!
JUST IN: Political meme token TrumpCoin, allegedly backed by Trump’s son and infamous investor Martin Shkreli, plummets 99.9% as developers withdraw $50 million in liquidity.
▶️rug pool 😂😂😂
▶️rug pool 😂😂😂
Currently, 🐳whales hold 368,696 unprofitable BTC, purchased in the range of $54K-$73K, amounting to $20.6 billion.
JUST IN: Elon Musk confirms interview with President Donald Trump on Monday will be on X.
On August 7, the total net inflow of Bitcoin spot ETFs was $45.1387 million. Grayscale ETF GBTC outflowed $30.5801 million, BlackRock ETF IBIT inflowed $52.5157 million, and WisdomTree ETF BTCW inflowed $10.4989 million. The total net asset value of Bitcoin spot ETFs was $49.821 billion, falling below $50 billion.
$BTC H4
As for short term price movement, I’m expecting something like this over the next few days.
Ultimately think we retest support at 55 or possibly move lower to 50 before a true reversal setup.
Nothing indicating reversal currently.
$BTC
As for short term price movement, I’m expecting something like this over the next few days.
Ultimately think we retest support at 55 or possibly move lower to 50 before a true reversal setup.
Nothing indicating reversal currently.
$BTC
$BTC 1D
Nice bounce so far but no reclaim. I’d like to see some consolidation into a reversal pattern to reclaim prior support at 56k.
Consolidation generally means continuation so don’t be surprised if this moves sideways then lower.
Nice bounce so far but no reclaim. I’d like to see some consolidation into a reversal pattern to reclaim prior support at 56k.
Consolidation generally means continuation so don’t be surprised if this moves sideways then lower.
There is hardly any moves on CRYPTO at the moment.
No direction at all.
Will see what happens here.
No direction at all.
Will see what happens here.
XLM made a classic 1 to 4.37 gain on this swing trade I shared yesterday. $XLM
LIVECryptoMatrixx
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Bearish
XLM has been doing alright so far.
Will it continue down so far.
$XLM
Will it continue down so far.
$XLM
Reason 3
JUMP CRYPTO, the cryptocurrency division of Jump Trading has moved over 120,000 staked Ether tokens to various crypto exchanges. This process began on July 24, just one day after the launch of spot Ether ETFs in the United States.
Blockchain data shows that Jump Crypto has transferred funds to multiple major exchanges, including Binance, OKX, Coinbase, Bybit, and Gate.io.
The scale of these transfers is significant, with an estimated $410 million of Ether being unstaked and about $191 million already deposited on exchanges.
Jump Crypto has also moved other cryptocurrencies to exchanges, including USD Coin (USDC), Tether (USDT), Uniswap (UNI), and Shiba Inu (SHIB).
This broad movement of assets across different cryptocurrencies has amplified concerns in the market.
JUMP CRYPTO, the cryptocurrency division of Jump Trading has moved over 120,000 staked Ether tokens to various crypto exchanges. This process began on July 24, just one day after the launch of spot Ether ETFs in the United States.
Blockchain data shows that Jump Crypto has transferred funds to multiple major exchanges, including Binance, OKX, Coinbase, Bybit, and Gate.io.
The scale of these transfers is significant, with an estimated $410 million of Ether being unstaked and about $191 million already deposited on exchanges.
Jump Crypto has also moved other cryptocurrencies to exchanges, including USD Coin (USDC), Tether (USDT), Uniswap (UNI), and Shiba Inu (SHIB).
This broad movement of assets across different cryptocurrencies has amplified concerns in the market.
Reason 2
The recent decision by the Bank of Japan to raise interest rates by 0.25% has had a big impact on global markets, particularly affecting the popular yen carry trade strategy.
This move, which marks a shift away from Japan's long-standing ultra-low interest rate policy, has led to a sharp appreciation of the yen, rising nearly 10% against the USD in just three weeks.
With the sudden strengthening of the yen, many traders have been forced to unwind these positions, leading to a cascading effect across various asset classes.
It seems unintuitive that a small 25 basis point interest rate hike in Japan would spike all risk assets, including tonight's -20% $ETH candle, but it did happen.
The recent decision by the Bank of Japan to raise interest rates by 0.25% has had a big impact on global markets, particularly affecting the popular yen carry trade strategy.
This move, which marks a shift away from Japan's long-standing ultra-low interest rate policy, has led to a sharp appreciation of the yen, rising nearly 10% against the USD in just three weeks.
With the sudden strengthening of the yen, many traders have been forced to unwind these positions, leading to a cascading effect across various asset classes.
It seems unintuitive that a small 25 basis point interest rate hike in Japan would spike all risk assets, including tonight's -20% $ETH candle, but it did happen.
Reason 1.
This is one of the top reasons why the markets crashed yesterday.
U.S. Economic Concerns
The recent weak U.S. jobs report has sent shockwaves through global markets, including the cryptocurrency sector. The report showed a significant jump in the unemployment rate, with nonfarm jobs falling well short of expectations.
This data has sparked fears that the U.S. economy might be heading towards a recession, a prospect that has spooked investors across various asset classes.
For the crypto market, which often thrives on optimism and growth prospects, this negative economic outlook has prompted many investors to reduce their exposure to high-risk assets like Bitcoin and other cryptocurrencies.
This is one of the top reasons why the markets crashed yesterday.
U.S. Economic Concerns
The recent weak U.S. jobs report has sent shockwaves through global markets, including the cryptocurrency sector. The report showed a significant jump in the unemployment rate, with nonfarm jobs falling well short of expectations.
This data has sparked fears that the U.S. economy might be heading towards a recession, a prospect that has spooked investors across various asset classes.
For the crypto market, which often thrives on optimism and growth prospects, this negative economic outlook has prompted many investors to reduce their exposure to high-risk assets like Bitcoin and other cryptocurrencies.
Is it over for Bitcoin and CRYPTO after this bloody week/weekend?
Take a look at the pullbacks in the 2017 and 2021 cycles.
Ignoring Bitcoin's genesis cycle, we can see the biggest pullback in the second (2017 Top) cycle had a 40% pullback.
The third cycle leading into the 2021 top had a 63% pullback (we know this as the Covid crash).
And those are just the biggest that are highlighted in the orange circles on the chart.
There's been plenty of 30% plus pullbacks where the price has continued to march on towards the peak.
What does this show us? Well, our current 29% pullback, well it dropped by 33% from the all time high isn't that uncommon at all in a Bull Market.
The Bull Market has not been invalidated.
Take a deep breath, and carry on!
Take a look at the pullbacks in the 2017 and 2021 cycles.
Ignoring Bitcoin's genesis cycle, we can see the biggest pullback in the second (2017 Top) cycle had a 40% pullback.
The third cycle leading into the 2021 top had a 63% pullback (we know this as the Covid crash).
And those are just the biggest that are highlighted in the orange circles on the chart.
There's been plenty of 30% plus pullbacks where the price has continued to march on towards the peak.
What does this show us? Well, our current 29% pullback, well it dropped by 33% from the all time high isn't that uncommon at all in a Bull Market.
The Bull Market has not been invalidated.
Take a deep breath, and carry on!
