Bitcoin is now benefiting from the positive impact of Trump's victory, and has finally reached the $76,000 level.
The next trend will revolve around whether the $76,000 resistance level can be broken. If it closes above $76,000, the next resistance level will be $80,000; if it fails to break, it will retrace to the $70,000-$72,000 support range. The current economic situation remains severe.
Bitcoin at $76,000, are you ready to cash out?
When LTH distribution starts to accelerate, this is the stage when STH demand is at its peak, allowing for the realization of substantial profits. As prices continue to rise, LTH distribution slows down, and a large amount of profit is realized, but its peak is already lower than previous highs. This can be seen as the last wave of diamond hands starting to cash out, indicating that a peak is likely approaching. Finally, let's look at this cycle:
Currently, we are in the process of the second distribution of LTH in this cycle. From September 19 to November 6, 175,000 coins have been distributed. The data shows that the entire process is intermittent, indicating that there is demand in this phase, but not much. Without a continuous influx of new demand, LTH cannot complete large-scale distribution. There has been no acceleration phase, nor any signals of large profits being realized.
Looking at the chart, the two signals on 2024.5.28 and 2024.10.8 were disrupted by some special reasons, which we can ignore.
Next, we need to closely monitor BTC's behavior after breaking through the historical high of $73,000 and whether there are signals of large profits being realized. If there are, and as prices rise, the peaks get lower... Hmm, do I even need to say it? You know what to do, right!
The effectiveness of this data in historical backtesting is extremely high. In my data analysis system, it also holds the highest weight. Its underlying logic can withstand scrutiny and verification, unlike mystical indicators that rely on luck, so this data has never been wrong in historical cycles.
Since BTC has broken through the historical high, I believe the most concerned question among friends now is when to cash out. I will share my high-weight data analysis and application methods gradually in the future. Let’s work hard together, everyone!
Today, Binance officially announced the inclusion of XRP and Dogecoin in the smart arbitrage list.
It is worth noting that users can start using XRP and Dogecoin with a minimum investment of 12.5 USDT. So far, it only supports Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
Smart arbitrage uses the funding rate mechanism to hedge futures positions with spot positions to collect funding fees. This strategy hedges price movement risks by holding opposite positions in the futures and spot markets. Thus, the profits from long positions offset the losses from short positions (and vice versa).
In addition, Binance also announced a special event, with a total reward of 45,000 USDT, to celebrate the launch of XRP and Dogecoin (DOGE). The event is valid until November 21 at 23:59 UTC.
Ripple tokens and DOGE prices are rising.
After Donald Trump's victory, investors have become optimistic about XRP and DOGE, which have witnessed upward momentum. The possibility of an XRP ETF launch is very high, and Elon Musk's efficiency department (DOGE) is the reason behind the positive sentiment.
The price of XRP is expected to rise 30 times, having increased 9% this week, with the current trading price at $0.55. The 24-hour low and high are $0.542 and $0.560 respectively. Furthermore, trading volume has decreased by 37% in the past 24 hours, indicating a decline in trader interest.
Meanwhile, the price of Dogecoin has risen by 3% in the past 24 hours and 25% this week. The current price is $0.19, with a 24-hour low and high of $0.186 and $0.199 respectively. It is expected that the price of Dogecoin will reach $10 in this bull market.
After Zhao Changpeng appeared in Dubai, he was interviewed by Bloomberg the day before Trump won the U.S. presidential election. Trump's victory led to a surge in cryptocurrency prices, with Zhao Changpeng's net worth reaching nearly $53 billion.
In the interview, he said: "I feel like I don't want to go back to being the CEO of Binance. I have led the company for seven years. I enjoy this job. Although it is very demanding. But I think that chapter is over."
Zhao Changpeng stated that someone even proposed to sell his controlling stake in the exchange — which accounts for most of his net worth — but he was unwilling to disclose the seller and the selling price.
"I'm not saying I'm going to hold these shares forever," he said. "I’m happy to review any offers, but so far, I haven’t done anything. But you know, I’m just an ordinary shareholder now."
Previously, Binance invested $500 million to help Elon Musk acquire Twitter (now known as X). With Trump's announcement of his victory, the overall cryptocurrency market has risen, pushing Zhao Changpeng's net worth to surpass $60 billion again.
According to Forbes' billionaire rankings, Zhao Changpeng is currently ranked 25th, with a cumulative net worth of $60.6 billion.
