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- A #trader who successfully predicted the earlier crypto rally this year is currently staying on the sidelines due to Bitcoin's recent loss of gains from #BlackRock's ETF application. - The recent Bitcoin correction that dropped #BTC below $26,000 indicates to the trader that bears have taken control of the market. - The trader notes that the retracement of gains from the #BlackRock ETF news signals weakness, as the market is trading at levels that were not expected to be revisited. - The trader will only reconsider their stance if Bitcoin reclaims $30,000 or drops to $18,950. - Trader sentiment towards altcoins suggests that it's not the right time to re-enter the crypto market, as many are buying alts after the #consolidation broke to the downside. - Currently, Bitcoin is trading at $25,945. $BTC

- A #trader who successfully predicted the earlier crypto rally this year is currently staying on the sidelines due to Bitcoin's recent loss of gains from #BlackRock's ETF application.

- The recent Bitcoin correction that dropped #BTC below $26,000 indicates to the trader that bears have taken control of the market.

- The trader notes that the retracement of gains from the #BlackRock ETF news signals weakness, as the market is trading at levels that were not expected to be revisited.

- The trader will only reconsider their stance if Bitcoin reclaims $30,000 or drops to $18,950.

- Trader sentiment towards altcoins suggests that it's not the right time to re-enter the crypto market, as many are buying alts after the #consolidation broke to the downside.

- Currently, Bitcoin is trading at $25,945.

$BTC

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🔥 Wow, Shiba Inu (SHIB) is on fire! 💸 The token burn rate has skyrocketed by a whopping 863.58% in the last 24 hours, with a mind-blowing 107,081,056 SHIB tokens removed from circulation. That brings the total number of SHIB tokens burned over the past week to 368,456,226! 🤯 For those who don't know, token burning is like a deflationary mechanism that reduces the total supply, making the tokens more scarce and potentially driving up their value. And with Shiba Inu's massive supply, these significant burns can have a major impact on its market dynamics! 🌊 However, despite this incredible burn rate, SHIB's price has remained relatively low, reflecting the broader crypto market trends. It's currently trading at $0.00002176, with a modest 0.41% increase in the past 24 hours. But, trading volume has taken a hit, plummeting 56.62% to $340.81 million. 😔 From a technical perspective, SHIB looks mixed. Its Relative Strength Index (RSI) stands at 39.71, which means it's neither oversold nor overbought. The RSI is a momentum oscillator that measures the speed and change of price movements. 📈 On the bright side, SHIB's price remains above its 200-day Exponential Moving Average (EMA) and 200-day Simple Moving Average (SMA). These moving averages are widely watched indicators that help smooth out price action over a given period. Trading above these averages is typically seen as a bullish sign, suggesting that SHIB's long-term trend may still be positive despite recent price weakness. 🌈 What do you think? Is SHIB poised for a comeback? Let me know in the comments! 💬 #shiba⚡ #Shibalnu
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