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Strong resistance ahead...
#BTC🔥🔥 #CryptoBears #BinanceSquare

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💥💥💥 Analyst Reveals Next Target for #bitcoin☀️ Between $87,000 and $88,000, This will Usher the Start of the Super Bull Cycle Bitcoin Eyes Next ATH Price Target - As we can see from the post above, Doctor Profit believes that Bitcoin ($BTC ) is currently in a long sideways movement. He believes that this sideways movement will play out within a box from $53,000 and $64,000. He tells traders to believe in this box and once BTC price breaks out of this box on the higher end, the sideways range will come to an end. - In fact, Doctor Profit also shares that once the sideways movement is over, the price of crypto will set a new ATH between the $87,000 and $88,000 range. He believes that when BTC price reaches this level then that will start the start of the long-expected super cycle. The Super Bull Cycle Offers Two New BTC ATHs - This bodes well with Lark Davis’ observation marking how BTC is yet to set a new ATH based on inflation prices, meaning BTC must break $80,000 for a new ATH. Doctor Profit, in particular, has been preaching the arrival of a super cycle for this ongoing bull cycle since late last year. - He believes this cycle will take the price of crypto to phenomenal highs. Doctor Profit went on to share three bull top targets for the supercycle with $111,000 and $220,000 being the other cycle top targets for BTC price. All in all, Doctor Profit is known for his many accurate predictions so far and many hope he will be right once again. Source - cryptonewsland.com #CryptoNewsCommunity #BinanceSquareTrends

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💥💥💥 Spot #BitcoinETFs see $43 million in outflows, breaking two-day inflow run U.S. Spot Bitcoin ETFs See $43.97 Million in Outflows on Wednesday Spot Bitcoin exchange-traded funds (ETFs) in the U.S. posted net outflows of $43.97 million on Wednesday, ending a two-day streak of positive inflows. Among the ETFs, Ark Invest and 21Shares’ ARKB saw the largest outflows, totaling $54.03 million, according to data from SoSoValue. Grayscale’s GBTC recorded $4.59 million in net outflows, while its Bitcoin Mini Trust experienced outflows of around $511,230. On the other hand, Fidelity’s FBTC led inflows, reporting $12.57 million in net gains, while Invesco’s BTCO saw $2.59 million flow into the product. Seven other funds, including BlackRock’s IBIT, recorded no daily flows, with #IBIT having reported no net inflows since August 26. The 12 Bitcoin ETFs recorded a total daily trading volume of $1.27 billion on Tuesday, a significant increase from $712.25 million the previous day. Since their launch in January, these funds have accumulated $17 billion in net inflows. #EtherETFs Also See Outflows Spot Ethereum ETFs in the U.S. posted net outflows of about $542,870, with seven out of nine funds showing no daily inflows. VanEck’s ETHV had $1.71 million in outflows, while Fidelity’s FETH recorded $1.17 million in net inflows. Ether ETFs had a total daily trading volume of $126.22 million on Wednesday, up from $102.87 million on Tuesday. Cumulatively, Ethereum ETFs have experienced $562.06 million in net outflows. Market Response and Economic Outlook Bitcoin’s price rose 3.37% over the past 24 hours, reaching $58,318, while Ether gained 1.78%, trading at around $2,373, according to The Block’s crypto price page. Rachael Lucas noted that Bitcoin and Ethereum ETF outflows are a normal reaction to strong U.S. data. Inflation rose 0.2% in August, bringing the 12-month rate to 2.5%. Investors await next week’s Fed meeting, with an 85% chance of a 25 basis point rate cut. Source - theblock.co #CryptoMarketTrend #BinanceSquareBTC

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💥💥💥 #Shibalnu ($SHIB ) Burn Rate #Skyrockets 8,193%, Price Lifts Off Over the past 24 hours, the Shiba Inu (SHIB) ecosystem has seen notable activity as volatility continues to grip the broader #cryptocurrencymarket . A key factor in SHIB's recent performance is its deflationary mechanism, which has seen a massive surge in the token burn rate. According to Shibburn, the burn rate skyrocketed by 8,193% as the network attempts to counter the effects of the recent price decline. Millions of SHIB Removed from Circulation - This burn surge resulted in the removal of 3,106,197 SHIB from circulation across eight transactions, with tokens sent to dead wallets. The most significant burn involved one million tokens in a single transaction. - During the early hours of Tuesday, as the burn was taking place, SHIB's price momentarily rallied, peaking at $0.00001367. However, the price briefly dropped in the afternoon before rebounding to $0.00001359 in the evening. - Unfortunately, the recovery was short-lived, with the price slipping downward again. At the time of writing, Shiba Inu traded at $0.00001324, while market volume plummeted by 20.54% to $135.49 million due to waning demand. Price Volatility Persists Despite Burn Efforts - Although the significant token burn had a positive impact on SHIB's price initially, the lack of sustained performance suggests that broader market factors are affecting the ecosystem. Some analysts attribute SHIB's struggle to escape price fatigue to the overall bearish sentiment in the crypto market. - While the burn mechanism has provided occasional price boosts, they have not been consistent or long-lasting. As the SHIB team works to stabilize the price, they have also introduced a new platform called ShibDev. This portal is designed to support developers building on Shibarium by providing tools to create decentralized applications. Source - u.today #CryptoTrends2024 #BinanceSquareTalks

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💥💥💥 $AAVE Soars 21% To Hit 2-Year High, $182 Target in Sight As the broader market recovers, despite Bitcoin's slight dip following the Presidential debate, #DefiTokens are experiencing a strong surge. AAVE from the Ethereum ecosystem has hit a 2-year high, showing promising growth alongside other tokens. Here's a closer look at AAVE's price action and potential target levels. AAVE's Breakout Rally - AAVE has surged 10.21% in the past 24 hours, reclaiming the key $150 mark. With a market cap of $2.25 billion, AAVE is currently trading at $150.97. - The daily chart shows a strong trend reversal, with consecutive bullish candles. Notably, AAVE has broken out of a large cup-and-handle pattern, with a neckline at $142.69, which aligns with the 100% Fibonacci retracement level. AAVE Price Chart - AAVE recently formed a morning star pattern near the 20-day EMA, triggering bullish momentum. Over the past few days, the token has risen by 21.07%, with two significant bullish engulfing candles. AAVE is now in its fourth consecutive day of gains, with an intraday increase of 0.30%. Target Levels for AAVE - As bullish momentum builds, the #MACD indicator has confirmed a bullish crossover, and the 20, 50, 100, and 200 EMAs show a positive alignment, further supporting the uptrend. - The next resistance levels for AAVE are the 1.272 and 1.618 Fibonacci levels, which correspond to $160.19 and $182.45, respectively. While a minor retest of the $142 breakout level (100% Fibonacci) is possible, the cup-and-handle breakout suggests AAVE could aim to surpass the $200 psychological barrier in the near future. Source - thecryptobasic.com #CryptoMENA #BinanceSquareTrends #CryptoMarketTrend

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🔥🔥🔥 #bitcoin☀️ Hits $58K While Mid and Large Wallets Stall, Wen New ATH? As of today, Bitcoin has reached $58,000, with growing - optimism among retail traders. However, according to market intelligence platform Santiment, for Bitcoin to return to its all-time high levels, shifts in wallet size distribution will be critical. Retail Traders Boost Small Wallet Growth - Santiment’s data indicates that wallets holding less than 1 BTC are at their highest level in seven months, signaling increased confidence among retail traders. These smaller wallets, which represent a significant portion of retail traders, have been steadily accumulating Bitcoin, reaching their largest share of the total supply since February 7, 2024. This rise suggests growing confidence among new and smaller investors, although traditionally, large holders have driven major price rallies. Mid-Sized and Large Wallets Show Stagnation - In contrast, wallets holding between 1 and 100 BTC saw their supply share peak on July 27, 2024, but have shown little movement since then. Similarly, larger wallets with over 100 BTC reached their highest point on August 14, 2024, but have since plateaued. This stagnation indicates that neither mid-sized nor large holders are aggressively accumulating, which typically signals bullish sentiment. Instead, their neutral behavior suggests caution or profit-taking. - Santiment notes that for Bitcoin to approach all-time high levels, wallets holding less than 1 BTC would typically be selling, mid-sized wallets would continue to grow, and large holders would be accumulating heavily. Potential #BullishMomentum ? Despite stagnation among large wallets, IntoTheBlock data shows 8.03K BTC withdrawn from exchanges in the past 24 hours. Over the past week, 6.29K $BTC was withdrawn, and 9.6K BTC in the last 30 days. This decreasing supply on exchanges may reduce selling pressure and potentially boost Bitcoin’s price if demand rises. Source - thecryptobasic.com #CryptoMarketTrend #BinanceSquareTalks

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