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4 REASONS WHY BITCOIN DIPPED BELOW $60K 1. Downtrend Since June 📉 - Bitcoin has struggled to maintain upward momentum since the beginning of June. Over the second quarter of 2024, BTC logged an 18% decline, and it continued to face headwinds despite positive ETF inflows. 2. Potential Mt. Gox Repayments 💰 - The recent dip below $60,000 is largely attributed to the impending Mt. Gox creditor repayments. The defunct exchange, which collapsed over a decade ago, holds over $9.4 billion worth of Bitcoin. Approximately 127,000 creditors have been waiting to recover their funds, and the repayment process may have begun. - 📊 Spent Volume Surge: Charles Edwards, founder of Capriole Investments, highlighted an enormous on-chain Bitcoin movement, suggesting that the long-awaited Mt. Gox distributions are indeed happening. Edwards noted, “The entire history of this chart has disappeared because an enormous sum of Bitcoin moved on-chain, 10X more than the previous highs. $9B. But by who? Mt. Gox.” 3. Market Reactions and Implications 📊 - 🌐 Market Uncertainty: The potential sell-off from Mt. Gox creditors, who may liquidate their holdings after a decade, could exert significant selling pressure on Bitcoin. This, combined with ongoing market uncertainties, has investors bracing for further volatility. - 📉 Support Levels: Bitcoin’s local bottom of $59,600 threatens to extend the current consolidation phase. Investors have been eyeing a breakout above $70,000 to pave the way for new all-time highs, but losing the $60,000 support could delay such a rally. 4. Institutional Inflows vs. Sell Pressure ⚖ - 🏦 ETF Inflows: Despite the sell-off fears, institutional inflows into U.S.-based spot Bitcoin ETFs have been strong. Since their launch in January, these ETFs have amassed over $52.5 billion worth of BTC, potentially absorbing some of the selling pressure from Mt. Gox repayments. Will BTC crash? You decide! #ETH_ETFs_Approval_Predictions #Megadrop #BinanceTournament #WriteToEarn #BTC
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🚨🚨 DELISTING ALERT 🚨🚨😨😨 It appears recent developments involving $ETHFI and $STRK indicate they may be facing delisting due to market conditions. $ETHFI, associated with the $ETH ETF, has experienced significant volatility and a downward trend, raising concerns about potential delisting. Similarly, $STRK has also been on a downward trajectory since its launch, lacking short positions that could help stabilize its price. This underscores the importance of understanding and utilizing short-selling strategies in such volatile markets. For investors and traders, recognizing the opportunity in short-selling becomes crucial in these scenarios. By opening short positions, traders can profit from the price decline of these assets. Educating followers and market participants about the mechanics of short-selling is essential, emphasizing its role in potentially earning profits amidst market downturns. Those new to short-selling can benefit from learning how to initiate futures transactions, ensuring they have the necessary tools to navigate and potentially capitalize on market movements. In summary, the current situation with $ETHFI and $STRK highlights the impact of market sentiment and the importance of proactive trading strategies like short-selling. Investors and traders should stay informed and prepared to utilize such strategies effectively to manage risks and capitalize on market opportunities, ensuring they adapt to market dynamics and potential delisting scenarios. #US_Job_Market_Slowdown #ETH_ETFs_Approval_Predictions #VanEck_SOL_ETFS #Megadrop #BinanceTournament
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From $65 to $1,148: The Remarkable Journey of Bitcoin Imagine investing just $65 in Bitcoin (BTC) back in 2019, when it was trading around $3,860 per coin. With this investment, you would have purchased approximately 0.017 BTC. Fast forward to 2021, Bitcoin surged to an all-time high of around $67,500 per coin. By holding onto your 0.017 BTC until then, its value would have skyrocketed to approximately $1,148. This incredible journey represents a staggering return of over 1,700% in just two years! It vividly demonstrates the extraordinary growth potential that cryptocurrencies can offer, even with a modest initial investment. However, it's crucial to remember that investing in cryptocurrencies carries inherent risks. Prices can fluctuate dramatically, and past performance does not guarantee future results. This example serves to highlight the potential rewards in the crypto market, but prudent investment strategies and thorough research are essential for navigating its volatility effectively. Invest wisely, and always be prepared for the ups and downs of the crypto market. #SOFR_Spike #US_Job_Market_Slowdown #ETH_ETFs_Approval_Predictions #Megadrop
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🚀🤑 Bold Crypto Forecasts for 2024! 🤑🚀 Here are some daring predictions for 2024: $SHIB: $2 $PEPE: $3 $XRP: $5 $LUNC: $8 $DOGE: $10 Don’t get caught up in the hype of low-value coins driven purely by speculation. Always do your own research, stay informed, and make wise investment decisions. 📚💡 #SOFR_Spike #US_Job_Market_Slowdown #ETH_ETFs_Approval_Predictions #Megadrop
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📣 Jerome Powell's Latest Statements on Monetary Policy: Key Points: 🇺🇸 Interest Rates: The Federal Reserve will proceed with caution before deciding to lower interest rates. Ensuring stability and accuracy in timing is crucial. 🇺🇸 Labor Market: Any unexpected weakening in the labor market will prompt immediate action from the Federal Reserve. 🇺🇸 Timing of Rate Cuts: There is a clear awareness of the risks associated with both premature and delayed interest rate cuts. 🇺🇸 Wage Increases: Current wage increases are on a downward trend towards sustainable levels but still exceed equilibrium levels. 🇺🇸 Inflation Target: Inflation might return to the Fed's 2% target by the end of next year or possibly the following year. 🇺🇸 Independence of the Fed: Powell emphasized the importance of the Federal Reserve’s independence amidst ongoing political conditions. 🇺🇸 Government Deficit: The US government deficit is large and unsustainable. Addressing this issue sooner rather than later is imperative. 🇺🇸 Unemployment Rate: A 4% unemployment rate is still considered very low. Stabilizing the unemployment rate at the correct levels is crucial. 🇺🇸 Inflation Outlook: Inflation should be at or below 2% a year from now. Stay informed and stay tuned for more updates on the Federal Reserve’s monetary policy path. #US_Job_Market_Slowdown #ETH_ETFs_Approval_Predictions #Megadrop #MtGoxJulyRepayments #BinanceTournament
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