🟠 Banner de ETF de#Bitcoinen escala de grises colgado en Wall Street 👀

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🟠 Grayscale spot #Bitcoin ETF banner being hung up on Wall Street 👀

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🤯 Opportunity in volatility: 'Don't panic, buy the dip,' says experts The significant market correction has raised concerns among investors, prompting fears of a deeper market downturn. However, seasoned experts advise against panic. A detailed analysis of Bitcoin’s (BTC) price movements reveals a compelling narrative for those who understand the opportunities within this volatility. Historical data shows that such drawdowns are a part of bull markets. Bitcoin’s history is marked by numerous corrections integral to the market’s long-term growth trajectory. Adam Back, founder and CEO of Blockstream, emphasizes the importance of zooming out to see the bigger picture during these market corrections. He highlights significant corrections in Bitcoin’s price over different periods, showing the extent of each correction from the previous high. Notable previous pullbacks include a -22.91% retracement over 21 days with a volume of 58.471K, and a -21.20% retracement over 42 days with a volume of 74.13K. The volumes associated with these historical pullbacks indicate strong selling pressures during these periods. Overall, while the depth of the current retracement aligns with typical market behavior, its duration of 45 days slightly exceeds the average, highlighting a marginally extended correction period. This analysis underlines the typical nature of market corrections in the BTC/USD cycle, providing valuable insights for traders and investors to understand and anticipate potential future movements. 🔸 Current market analysis and strategic opportunities Currently, Bitcoin is trading at $55,309, down 4.62% at press time. On the 4-hour chart, immediate support is at $53,140, with further support at $51,720 and $49,910. The Relative Strength Index (RSI) is at 17, indicating extremely oversold conditions. Historical trends suggest that these downturns are temporary and often followed by substantial recoveries. $BTC #BTC

📈 Why Is BONK Price Surging Today? Key Factors Behind the 5% Pump Unlike other cryptocurrencies, the Solana meme coin, Bonk price is up on Friday, defying widespread headwinds. The pump comes amid a Bitcoin price crash below $55,000 triggered by selling pressure emanating from key events such as the defunct Mt. Gox exchange starting payments to its creditors and the German government’s BTC selling spree. Although Bonk and other meme coins were not spared by the correction that has suppressed prices since the end of May, it remains unfazed by the current pressure on the sell side. 🔸 Here’s Why Bonk Price Is Surging From a technical standpoint, BONK sits on top of a solid support area provided by a long-term ascending trend line and the 200-day Exponential Moving Average (EMA) in purple. Traders also jumped on the opportunity to buy BONK at the $0.00002 support area and are betting on the price rebounding to reach $0.000025 by the weekend and $0.00004 in the coming week. A vivid Relative Strength Index (RSI) bearish divergence stresses the importance of understanding the technical outlook of assets. Since BONK set out on the pullback from March peak at $0.000045, the RSI formed a negative divergence with the price. Investors who may have been following this indicator could have sold near the peak and waited to buy when the RSI is near or in the oversold region below 30. Currently, the RSI holds in the neutral region and above 45. The 5% rebound can be attributed to to the recovery from near oversold conditions. A break above the descending RSI trend line could spur growth in Bonk price as traders rush to buy the meme coin before breaking out. Nevertheless, the death cross pattern established recently when the 20-day EMA flipped under the 50-day EMA calls for caution among traders and investors. It may not be wise to go all-in on Bonk at the moment. Traders should DCA responsibly until the token recovers above the 20-day EMA and the 50-day EMA. $BONK #BONK

🔥 $SOL: Analyst Examines Solana's Explosive Growth Potential Crypto provided an in-depth analysis of Solana (SOL), discussing its potential price trajectory and the factors that could drive its growth. The video outlines several key predictions and comparisons to Bitcoin and Ethereum to offer a comprehensive forecast for Solana. The hosts began by emphasizing the importance of understanding the current positions of Bitcoin and Ethereum to contextualize Solana’s potential. At the time of recording, Bitcoin’s market cap was approximately $1.96 trillion, a figure that many in the crypto community previously deemed unattainable. This remarkable growth in Bitcoin’s value sets a precedent for other cryptocurrencies, including Solana. The discussion highlighted Bitcoin’s limited supply of 21 million coins, with 19.7 million already in circulation. He also mentioned that the most recent Bitcoin halving event (which took place on 19 April 2024), which reduced the issuance rate of new Bitcoin, is expected to create a supply squeeze, potentially driving prices higher. This context is crucial when considering Solana’s future, as market trends in Bitcoin and Ethereum often influence other cryptocurrencies. Cheeky Crypto then delved into Solana’s technical analysis. The hosts predicted that Solana could reach impressive price levels, contingent on broader market movements and specific developments within the Solana ecosystem. He presented a range of price targets, starting with a conservative estimate of $688 per SOL, which would result in a market cap of $318 billion—a 5.1x increase from its current position. For more ambitious predictions, the host suggested that Solana could potentially hit $1,192 per SOL, leading to a market cap of $550 billion and an 8.8x increase. These projections are grounded in the expected growth trajectories of Bitcoin and Ethereum. If Bitcoin were to reach $250,000 or even $500,000, and Ethereum were to surge to $15,000 or $25,000, he said that Solana’s rise to these levels would be more plausible. $SOL #SOL

💥 Investors Reduce Losses by Selling Meme Coins As the decline in cryptocurrencies continues to deepen, this situation has also affected meme coins. Especially the market movements in the last three weeks seem to have greatly worried investors who expected a rise in July. More importantly, amid all this, it is seen that investors are quickly sending their meme coins to exchanges to reduce their losses and prepare them for sale. 🔸 Meme Coin Comments When it comes to meme coins, it is known that there are two leaders in terms of market volume. Dogecoin and Shiba Inu are at the forefront of this process and continue to lead the meme coin market. It would not be wrong to say that the movements of these cryptocurrencies also have an impact on meme coins. As of the time of writing, the total market volume of the cryptocurrency market has dropped to 2.13 trillion dollars after a decline of over 4% in the last 24 hours. Within this decline, the value of meme coins experienced a 14% drop and was calculated at 44.3 billion dollars. The future of meme coins, which have experienced a larger decline than the general market conditions, seems to be questioned more loudly after this price movement. It is known that meme coins, by their nature, have high volatility and respond very quickly to events in the market. This situation can be explained as one of the reasons why the decline in the market, especially in BTC, triggers larger declines on the meme coin side. 🔸 DOGE Current Status On the other hand, when we examine Dogecoin, it was seen that after a 9.71% decline, it found buyers at the 0.1069 dollar region. In the weekly review, DOGE’s decline indicated 16.03%. It would not be wrong to say that the wave of sales triggered by the anxiety caused by the market declines also brought significant sales in DOGE. Dogecoin’s monthly outlook indicated a completely different situation. The 33% decline in DOGE over the last 30 days created a shock effect. The declines seem to have erased a large part of the rise experienced in March. #DOGE #Memecoins

👀 Mt. Gox Transfers $2.7 Billion in Bitcoin From Cold Storage Amid Market Rout Mt. Gox has transferred $2.7 billion worth of Bitcoin to an unidentified wallet, further exacerbating concerns over declining crypto prices. The Mt. Gox bankruptcy estate has transferred billions of dollars worth of Bitcoin (BTC) to an unidentified wallet, further exacerbating concerns on declining crypto prices. Data from blockchain analytics firm Arkham Intelligence shows a cold storage wallet belonging to Mt. Gox has transferred 47,228 BTC, worth roughly $2.71 billion, according to a Thursday post on X, formerly Twitter. It follows several test transactions conducted on Wednesday by the estate, valued at less than $27 over three separate transactions, according to blockchain data also provided by Arkham. Repayments from Mt. Gox are expected to commence this month after extensive preparations for fund distribution. The defunct exchange will disburse approximately 142,000 BTC and 143,000 Bitcoin Cash. The development marks a step towards resolving the decade-long wait for 127,000 creditors affected by the 2014 collapse of the former Japanese crypto exchange. Several headwinds continue to dampen investor sentiment, including tensions arising from the recent transfer of Bitcoin by the German government, which began transferring seized assets to its own wallet six months ago. The German government seized nearly 50,000 BTC from the operators of the illegal streaming site Movie2k.to in 2020. The Bitcoin, initially worth around $2 billion, was confiscated as part of an investigation into the site's activities, which included distributing pirated films and laundering the proceeds. Roughly 1,300 BTC, worth $75.5 million, were sent to several exchanges, including Bitstamp, Coinbase, and Kraken, on Wednesday, adding to concerns that prices could be headed lower. "It would need to be a massive July for Bitcoin’s price to resist the sheer weight of supply flooding into the market from Mt. Gox and the German government. $BTC #BTC #Bitcoin

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