**FED Rate Cut Triggers Market Surge**
The Federal Reserve has announced a significant reduction in interest rates, a decision unveiled by Chairman Jerome Powell. This move is poised to impact various sectors, including cryptocurrencies and stock markets.
**Bitcoin Reacts to Rate Cut**
Following the announcement, Bitcoin experienced a notable price increase. Lower interest rates often make traditional currencies less appealing, driving investors toward alternatives like Bitcoin. This trend suggests a bullish outlook for the cryptocurrency.
**Stock Market Gains Momentum**
Major indices such as the Nasdaq, S&P 500, and Dow Jones saw substantial gains post-announcement. Reduced borrowing costs typically encourage business investments and consumer spending, potentially leading to a short-term market rally.
**Broader Economic Implications**
The rate cut aims to stimulate economic growth through increased spending and investment. However, the FED must balance this with inflation control. Powell remains optimistic about managing inflation, but future economic data will be crucial.
**Future FED Actions Under Scrutiny**
Investors are closely monitoring the FED's next steps, with speculation about further rate cuts. Upcoming economic reports on employment and inflation will likely influence these decisions. The potential for additional cuts is driving investments in stocks and Bitcoin.
**Bitcoin's Prospects Linked to FED Policy**
As the FED continues to adjust monetary policy, Bitcoin's attractiveness may increase, particularly if the dollar weakens. This environment could propel Bitcoin toward new highs, with investors keenly observing FED actions for portfolio implications.
In summary, the FED's rate cut is a pivotal development, boosting Bitcoin and stock markets while shaping a dynamic economic landscape. Investors should remain vigilant of the FED's future moves, which could unlock further market gains.
#Bitcoin'in kısa vadeli sahip arzı 2024 boyunca belirgin bir Ćekilde azaldı. Ä°lk grafik, Nisan ayında 3,3 milyon BTC'den AÄustos ayı sonuna kadar 2,8 milyon BTC'nin altına önemli bir dĂŒĆĂŒĆĂŒ göstermektedir. Grafik, kısa vadeli sahipler tarafından tutulan arz azaldıkça, Bitcoin'in fiyatının sadece kĂŒĂ§ĂŒk dalgalanmalarla nispeten sabit kaldıÄını gösteriyor.
#Bitcoin'in kısa vadeli sahip arzı 2024 boyunca belirgin bir Ćekilde azaldı. Ä°lk grafik, Nisan ayında 3,3 milyon BTC'den AÄustos ayı sonuna kadar 2,8 milyon BTC'nin altına önemli bir dĂŒĆĂŒĆĂŒ göstermektedir. Grafik, kısa vadeli sahipler tarafından tutulan arz azaldıkça, Bitcoin'in fiyatının sadece kĂŒĂ§ĂŒk dalgalanmalarla nispeten sabit kaldıÄını gösteriyor.
Tarihsel bir bakÄ±Ć açısı sunan ikinci grafik, bu kısa vadeli sahip arzı seviyesinin en son 2019 ve 2020 ayı piyasalarında görĂŒlen seviyelere yaklaĆtıÄını vurgulamaktadır. Bu tarihsel baÄlam, mevcut dĂŒĆĂŒĆĂŒn, özellikle önceki döngĂŒlerde gözlemlenen benzer kalıplar göz önĂŒne alındıÄında, bir piyasa konsolidasyon aĆamasının erken bir göstergesi olabileceÄini öne sĂŒrebilir. Bitcoin'in kısa vadeli arzın azalan fiyat esnekliÄi, uzun vadeli sahipler tarafından potansiyel bir birikim olduÄunu gösteriyor.
Bitcoin latest technical analysis
$BTC Can dump
Bitcoin's recent price action is showing signs of potential trouble ahead. We can see a classic double top pattern forming, with both peaks around the $61,500 level. This is typically a bearish signal, indicating that the momentum could be slowing down. If the price fails to break above this level and instead drops, we could see a move toward the target around $48,000. The RSI is hovering near the overbought zone, which adds to the possibility of a reversal. Meanwhile, the MACD is not showing strong bullish momentum, further suggesting caution. Keep an eye on that support level; if it breaks, a significant drop could be on the cards.
#MtGoxRepayments #BinanceLaunchpoolDOGS #PowellAtJacksonHole #CryptoMarketMoves #CryptoMarketMoves
Hereâs a hypothetical trading strategy on Binance for new traders:
**Strategy**: Scalping and Swing Trading
**Timeframe**: Short-term (1-7 days)
**Cryptocurrencies**: Select 3-5 low-cap altcoins with high liquidity and volatility
**Entry Rules**:
1. Identify trending coins using Binance's "Top Gainers" list.
2. Use technical indicators like RSI, Bollinger Bands, and Moving Averages to confirm entry points.
3. Set buy orders at 1-2% above the current price.
**Exit Rules**:
1. Set sell orders at 5-10% above the buy price (scalping).
2. For swing trades, hold for 1-3 days and exit at 10-20% profit.
**Risk Management**:
1. Allocate 20-50% of the portfolio per trade.
2. Set stop-loss orders at 2-5% below the buy price.
**Example**:
Initial Investment: $100
1. Buy 1000 units of altcoin A at $0.10.
2. Sell 500 units at $0.12 (scalping) = $60 profit.
3. Hold the remaining 500 units and sell at $0.15 (swing trade) = $150 profit.
Repeat this process with other selected altcoins, reinvesting profits to grow the portfolio.
**Important Notes**:
- This strategy is high-risk and may result in losses.
- Cryptocurrency markets are highly volatile, and prices can fluctuate rapidly.
- This is a hypothetical example for educational purposes only and should not be considered investment advice.
Keep in mind that this is a simplified example, and actual trading involves more complexities. Always prioritize risk management and education before trading.
P2P (Peer-to-Peer) trading platforms, like Binance P2P, can be vulnerable to various types of scams. Here are some common ones to watch out for:
1. **Payment Scams**: Buyers or sellers may promise to pay but don't, or vice versa.
2. **Phishing Scams**: Scammers may impersonate legitimate traders or platform representatives to steal login credentials or payment information.
3. **Fake Profile Scams**: Scammers create fake profiles, often with stolen photos, to gain trust and facilitate fraudulent trades.
4. **Price Manipulation Scams**: Scammers may try to manipulate prices by placing fake buy or sell orders.
5. **Non-Delivery Scams**: Sellers may fail to deliver assets after receiving payment.
6. **Chargeback Scams**: Buyers may file false chargebacks to reverse payments.
7. **Middleman Scams**: Scammers may offer to act as intermediaries, taking a commission, but ultimately stealing funds.
8. **Ponzi Schemes**: Scammers may promise unusually high returns, using funds from new investors to pay earlier investors.
To avoid these scams:
1. Verify profiles: Check for verified badges and ensure profiles are complete.
2. Use secure payment methods: Opt for payment methods with built-in protections, like credit cards or PayPal.
3. Communicate securely: Use platform-provided messaging systems to avoid phishing attempts.
4. Set clear agreements: Establish clear terms, including payment and asset transfer details.
5. Monitor transactions: Keep track of payments and asset transfers.
6. Report suspicious activity: Inform the platform about any suspicious behavior.
P2P trading carries risks, so staying vigilant is crucial. Always prioritize caution and follow best practices to minimize the risk of falling victim to scams.
#P2PScamAwareness
#P2PScamWarning #P2PTrading #P2PScame #P2PScamPrevention
BREAKING: Powellâs Speech at Jackson Hole Just 1 Hour Away!
Prepare for a pivotal moment in the financial world as Fed Chair Jerome Powell gets ready to address the nation from the iconic Jackson Hole Monetary Policy Symposium.
What to Expect:
- Powell is likely to outline the Federal Reserveâs next phase of monetary policy, with markets anxiously awaiting clues about upcoming rate decisions.
- Expect Powell to stress that the Fedâs actions will be data-dependent, while officials are expected to maintain a dovish stance.
- With the U.S. economy in focus, the potential for an economic soft landing is on everyone's mind, though inflation is currently taking a back seat.
Why It Matters:
The entire market is on edge! Will Powell signal a shift in rates? Could there be hints of easing or tightening? This speech could be a game-changer!
Stay tuned, and donât forget to show your support! Like this post and vote to keep the updates coming. We're here to bring you the latest, free of charge.
Hey #BinanceSquareFamily đ I hope everyoneâs doing well. Just wanted to touch base with you all. Yesterday, we were rocking the Top 50, but today, we've slipped to 45. What do you think could be going on? FOLLOW ME GUYS and
[Click here to vote for me](https://app.binance.com/uni-qr/cpro/CryptoMystique?l=en&r=146259817&uc=app_square_share_link&us=copylink)
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I've noticed many of you are claiming Red Packets regularly, which is fantastic! But it seems like the votes arenât quite matching up. Just a quick reminder: voting is just one click away, and it truly makes a difference. So, while youâre grabbing your Red Packet, donât forget to vote. Letâs climb back to the top together! đ
Hint: Iâm voting too!
#PowellAtJacksonHole #CryptoMarketMoves #BinanceBlockchainWeek #LowestCPI2021
Expert Analyst Shares Ideal XRP Price Range for Earning Significant Profits
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An analyst points to a strategy that could yield considerable returns for traders following the recent XRP price trend.
Holding XRP in light of the current uncertainty in the market can be frustrating.
However, according to X analyst Bitcoin Ape, following the trend and trading the XRP range will be more rewarding.
The professional market analyst provided a classic trade setup that traders could profit from despite XRPâs price range.
The analyst noted that the XRPL native token has been swinging between $0.43 support and $0.72 major resistance for almost a year.
To make the most of the XRPâs underwhelming price movement, Bitcoin Ape has suggested trading the range until the token breaks out.
His trading strategy involves opening a long position at the $0.43 support zone and taking a profit when XRP nears the resistance at the $0.72 upper range.
The strategy has Bitcoin Apeâs open position up 40% at the time of his X tweet.
XRP traded at $0.5665 when the analyst tweeted the strategy and was trading at $0.5671 at press time, signaling further gains on the position.
This short-term strategy of profiting from XRPâs range would be invalidated when the token breaks above or below the resistance or support areas, respectively.
The global crypto market has failed to impress recently, with Bitcoin struggling to break above $60,000.
A reduced inflow from the assetâs US spot exchange-traded funds (ETFs) and other unfavorable macroeconomics have seen the asset and the broader cryptocurrency market struggle.
However, the XRPL network has seen a significant boost in recent times.
#SEC #XRP #Ripple #Altcoins #Bitcoin $XRP $BTC $SOL
**News Flash: RFK Jr. Stays in 2024 Presidential Race, Criticizes Media and Party**
Independent presidential candidate Robert F. Kennedy Jr. announced he's not dropping out of the 2024 race. Speaking from Phoenix, Kennedy clarified he's "suspending" but not ending his campaign, urging supporters to vote for him in November. He criticized the Democratic Party and media, claiming censorship and media control hindered his chances.
Kennedy's name will stay on most state ballots, though he'll withdraw from ten to avoid being a "spoiler." Initially a Democrat, RFK Jr. has been a strong advocate for cryptocurrencies and blockchain technology. Stay tuned for more updates.
Can Solana Price Post a 2021-Like Bull Run?âš
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The SOL/ETH currency pair traded within a tight range as liquidity woes challenge global markets, including crypto. With investors anticipating a series of interest rate cuts in the United States starting in September, Solana price may surge ahead of other cryptocurrencies, potentially reaching $200.
SOL/ETH Price Market Movers: Rising DeFi TVL and And Whale Buying Spree
Solana price collected liquidity at $140 this week, paving the way for a reversal to $145 as the protocolâs decentralized finance (DeFi) ecosystem made a comeback in the total value locked (TVL).Â
According to DeFi Llama, the value locked in smart in the protocolâs smart contracts has surged to $4.98 billion from the early August crash to $3.8 billion. An increase in this metric is often viewed as a bullish signal for reducing the potential selling pressure.
Investors show confidence in the asset, committing their holdings to secure the protocol and earn rewards.
On the other hand, ETH price quickly swung towards $2,700, but due to shrinking liquidity and a slow uptake of Ether ETFs, a correction occurred to $2,664.Â
This sluggish movement in ETH price may soon be over if whales keep up their risk appetite for ETH.
Based on Santiment, holders of between 1,000 and 10,000 ETH account for 35.13% of the total supply, up from 34.77% on August 1. Those addresses with between 10 million and 100 million ETH focused on the recent crash, increasing their holdings to 10% from 9.67% in the same period.
The SOL/USD currency pair sits above crucial support provided by the 200-day Exponential Moving Average (EMA) and the lower end of the Bollinger bands.
#Solana #Ethereum #ETH #SOL #Bitcoin $SOL $ETH $BTC
Economist Evaluated the Speech of FED Chairman Jerome Powell, Which Caused a Bounce in Bitcoin â What Does It Mean?
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Fed Chairman Jerome Powell gave the clearest sign yet that quantitative easing is imminent by saying itâs time to cut interest rates.
The timing and magnitude of these reductions will depend on careful assessment of risks to the U.S. economy, Powell said.
âWe do not want or welcome further cooling in labor market conditions,â Powell said in his speech, indicating that the central bank is increasingly cautious about tightening policy further given the potential impact on employment.
The Fedâs primary goal remains to bring inflation back to its 2% target, but the resilience of the labor market has made the path to price stability more complicated.
Market reactions were swift. Mesirow CEO Uto Shinohara said Powellâs comments largely confirmed market expectations for a September rate cut.
Investors are currently pricing in a cut of around 30 basis points, with expectations for a total annual cut rising from 95 to 100 basis points.
Shinohara added that future rate movements will continue to be heavily influenced by upcoming employment data, which could further impact the US dollar.
Powellâs growing confidence that inflation will slow signals a shift in focus at the Fed. While the Fed has been concerned about inflationary pressures for months, Powell has acknowledged that the labor market now poses a more significant risk.
The unemployment rate has been rising gradually and economists have warned that an overly tight labor market could destabilize broader economic conditions.
As the September Fed meeting approaches, the market will continue to scrutinize economic data to gauge the Fedâs next steps.
#FED #interestrstes #PowellSpeech #DigiCash #doge⥠$BTC $ETH $SOL
Notcoin Price Approaches Key Resistance Levels; Potential Breakout Ahead?
The recent action of the #Notcoin price on the 4-hour chart suggests that the cryptocurrency is at a pivotal moment, where a decisive move could set the tone for its short-term direction. Recent closing prices reveal a subtle yet noticeable fluctuation, with the most recent closing price at $0.01078, indicating a slight recovery after a dip to $0.01069. This movement positions the Notcoin price near key resistance and support levels that traders should closely monitor.
$NOT is currently hovering near the $0.01085 resistance level, which, if breached, could open the door for a test of the next significant resistance at $0.01095. Beyond this, the $0.01129 level emerges as a critical resistance point that could define the upper boundary of this trading range. On the downside, support is expected around $0.01071, with stronger support at $0.01067 and $0.01065. These levels are crucial for traders looking to identify potential entry and exit points.
Technical indicators present a mixed picture, signaling caution in both bullish and bearish scenarios. The 9 EMA is currently positioned slightly below the 20 EMA, suggesting that the recent Notcoin price action has been slightly bearish. However, the difference between the two is marginal, indicating a lack of strong directional momentum. This convergence of the EMAs points to a potential consolidation phase, where the price may oscillate within a narrow range before making a decisive move.
Meanwhile, the MACD, a momentum indicator, is also showing signs of indecision. Histogram values are positive but shrinking, indicating that the bullish momentum is losing steam. The MACD line is inching closer to the signal line, which could signal a bearish crossover if the current trend continues. This scenario suggests that traders should be cautious about entering long positions without clear confirmation of upward momentum. #NOTđ„đ„đ„ #TrendingInvestments The full analysis and trade strategy were posted on www.ecoinimist.com.
{spot}(NOTUSDT)
$DOG has broken out of its triangle pattern!
Next resistances sit at $0.038 and $0.05.
However, if Bitcoin continues pumping, we could see DOG go much higher quickly.
For those who don't know, DOG is the #1 meme coin on Bitcoin's Runes protocol. Compared to other meme coins, it still has a relatively small market cap of 300m. $PEPE, for example, has a market cap of 3b.
With Bitcoin pumping, the chances are good that DOG will become more attention, too.
Important: DOG is not listed on Binance yet đ.
10 Next Big Crypto Coins Projects to Boom [August 2024]
Certainly! As the cryptocurrency market continues to evolve, investors are always on the lookout for the next big crypto project with high growth potential. Here are some promising projects to consider:
1. Wiener AI (WAI): This innovative project combines meme coin appeal with advanced AI technology, positioning it uniquely in the marketÂč.
2. INTRO (1intro): A decentralized exchange (DEX) and liquidity bootstrapping project in the Solana ecosystem.
3. JetBolt (JBOLT): Seamlessly merges zero gas technology, AI-driven crypto market insights, and easy crypto-earning staking.
4. Swag Token (SWA): A blend of digital and physical transactions that enhances everyday utility.
Remember that investing in early-stage cryptos carries inherent risks, but the potential upside can be substantial. Keep an eye on market trends and research thoroughly before making any investment decisions! đÂčâ”
#BinanceLaunchpoolDOGS #BinanceBlockchainWeek #LowestCPI2021
Blockchain Association, DeFi Education Fund warn that SEC's consolidated audit trail poses privacy concerns
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The Blockchain Association and the DeFi Education Fund say the U.S.
Securities and Exchange Commission's newly operational database poses privacy concerns for millions and could loop in digital assets.
The SEC adopted Rule 613 in 2012 following the financial crisis, requiring national securities exchanges and the Financial Industry Regulatory Authority to maintain a consolidated audit trail, or CAT. The goal is to allow regulators to oversee securities markets on a "consolidated basis," said former SEC Chair Jay Clayton in 2017.Â
The Consolidated Audit Trail became fully operational at the end of May 2024, according to the Securities Industry and Financial Markets Association.Â
The 351-page rule does not explicitly mention digital assets, but both crypto groups say the SEC believes that many crypto participants are exchanges or brokers, so they will have to report information to the CAT.Â
The CAT will turn "blockchains into a massive and fully deanonymized repository for the government to search at will, without any need to show cause to obtain a warrant," the groups said in an amicus brief filed on Thursday.Â
"Due to the nature of blockchain technology, accessing even one superficially limited identity record will unlock an unprecedented trove of unrelated financial transactions conducted by that user â past, present, and future â all open for inspection by the federal government, and a host of private parties," they said in the brief.Â
#SEC #BlockChain #CryptoNews #Bitcoin #BinanceLaunchpoolDOGS $BTC $ETH $SOL
Nvidia's Anticipated Q2 Earnings Call Sparks Analyst Optimism
AI Summary
According to Cointelegraph, tech giant Nvidia is set to hold its second-quarter earnings call on September 28, generating significant buzz among analysts and investors. Expectations are high, with predictions of more than double year-over-year profits and record-breaking revenue. Many stock market insiders are dubbing it the event of the year.
Nvidia's stock has seen a remarkable rise over the past two years. In 2022, the company's shares hit a low of around $11, resulting in a market capitalization of approximately $250 billion. By mid-2024, this valuation would place it just below Toyota. As of August 23, Nvidia's stock is trading at $128.52, making it the second most valuable company globally by market cap at $3.166 trillion, trailing only Apple at $3.443 trillion.
The second quarter has been challenging for the tech industry, with most top 20 technology companies experiencing a downward trend in stock prices over a 30-day period, except for a few outliers like Apple and Meta. Nvidia's upcoming earnings report could potentially shift the overall performance outlook for the tech sector. Analysts are optimistic, predicting that Nvidia's Q2 earnings and revenue will surpass the records set in the first quarter of 2024.
Dan Ives, an analyst from Los Angeles-based private investment firm Wedbush, described the Nvidia call as potentially the most significant event for the stock market this year and possibly in years. Ethan Feller, an analyst from Zacks investment research firm, suggested that the earnings call could set Nvidia on a trajectory towards a $10 trillion market capitalization within the next five years if current trends persist. Despite the optimistic forecasts, it's noteworthy that Nvidia's stock has compounded at an annual rate of nearly 100% over the past five years.
đŠ Binance Voting Competition: Your Support Means Everything đŠ CLICK đ [VISIT MY PROFILE AND VOTE](https://www.binance.com/en/square/profile/maidah_aw) and claim your reward which you will receive after 29th aug
Dear Friends,
First and foremost, thank you for the incredible 98 votes on the first day! Your support means the world to me, and I'm counting on your continued votes over the next 14 days Currently we are in top 40. Over the past five months, I've shared over 1,500 pieces of contentâsome you loved, some you didnâtâbut I've never stopped sharing my knowledge and insights with you.
Together, we've celebrated countless gains with coins like $RARE , $TON , $SUI , and many others, and Iâm confident we'll continue to achieve even greater success in the future.
Now, Iâm asking for your support. Please take a moment to visit my profile and cast your vote. Your vote is more than just a number; it's a recognition of the time and effort Iâve dedicated to this community. And for those who have already voted, please let me knowâI want to acknowledge and thank my true followers.
Thank you so much for your continued support. Letâs keep rising together!
â€ïžđȘ With love and gratitude
#LowestCPI2021 #BinanceLaunchpoolTON #Write2Earn! #RAREBULLISH #BinanceTurns7
#BTC UPDATE ...
The price of bitcoin $BTC might be poised to rise. The market's declining trend, according to analysts, has ended. They think that the current swings of Bitcoin point to a possible rising trend. After the Fed made hints about cutting interest rates, the price increased. After peaking at $62,500, Bitcoin$BTC fell to $61,000. It might set a new record high if it continues to rise above $60,000. It might drop to $49,500 if it doesn't surpass $62,000.
Powell confirms September rate cut, stocks and cryptos rally
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Federal Reserve Chair Jerome Powell on Friday clearly signaled that the central bank will cut interest rates at its next policy-setting meeting in September.Â
He did not indicate as to the size of the cut, but he assured markets that the Fed is committed to preventing additional weakening in the labor market.Â
âThe time has come for policy to adjust,â Powell said during a keynote address at the Kansas City Fedâs annual conference in Jackson Hole.
âThe direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks.â
Equities immediately reacted well to Powellâs comments, which were largely anticipated.
The Dow Jones Industrial Average gained as much as 1% in the half hour after Powell took the podium, while the S&P 500 and Nasdaq Composite indexes gained 0.7% and 0.9%, respectively.
Â
Bitcoin (BTC) and ether (ETH) were also in the green following the speech. Bitcoin rallied as much as 2.2% before 11 am ET before paring gains, according to data from Coinbase.
The largest cryptocurrency was trading around $61,000, up 0.5% over 24 hours, at time of publication. Ether was trading 1.8% higher over the past 24 hours at time of publication, per Coinbase.Â
Powellâs remarks come days after new revisions data from the Bureau of Labor Statistics suggests that the economy added 818,000 fewer jobs in the 12 months ended March 2024 than were initially reported.Â
Powell on Friday reiterated that central bankers âdo not seek or welcome further cooling in labor market conditions,â and will therefore act accordingly by lowering interest rates in September.
#FED #interestrstes #FOMC #SEC #Bitcoin $BTC $ETH $SOL
Here are the key points from Jerome Powell's speech: (This speech is good for Crypto)
1. Economic Recovery Post-Pandemic:
- Economic distortions from COVID-19 are fading.
- Inflation has significantly decreased, and labor market conditions have cooled.
2. Current Economic Status:
- Inflation has fallen to 2.5% over the past year, closer to the Federal Reserve's 2% target.
- The labor market is less tight compared to pre-pandemic levels, with unemployment at 4.3%.
3. Monetary Policy Outlook:
- The Federal Reserve's focus has been on reducing inflation while avoiding sharp rises in unemployment.
- Future policy adjustments will depend on ongoing data and evolving economic conditions.
4. Labor Market Trends:
- Job growth has slowed, and vacancies and wage gains have moderated.
- The increase in unemployment is primarily due to a rise in the supply of workers rather than layoffs.
5. Future Policy Considerations:
- The Federal Reserve plans to adjust its policies based on inflation and labor market trends.
- There is room for policy rate cuts to support the economy while aiming for stable inflation.
6. Ongoing Review:
- The Federal Reserve will review its monetary policy framework later this year, considering lessons from the pandemic and potential new ideas.
OTC Bitcoin Reserves Soar to Several-Year Peak: Implications for BTCâs Future?
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Bitcoin Miner OTC reserve has surged to its highest level, with miners adding 153,000 BTCs in the last three months.
Historically, spikes in the OTC reserve have negatively impacted Bitcoinâs price.
Bitcoin miners have significantly increased their OTC reserve in recent times. An analysis indicates a surge in the Bitcoin Miner OTC reserve to its highest level in years.
This trend has historically not been favorable for Bitcoinâs price, and this pattern seems to continue as Bitcoin faces struggles.
Data from CryptoQuant shows that the Bitcoin Miner OTC reserve is at its highest since 2022. Over the past three months, the reserve has seen a 70% increase. It rose from 215,000 BTC in June to 368,000 BTC in August, indicating a significant increase of 153,000 BTC.
Miners often use OTC sales to avoid triggering negative price reactions from large transactions. However, Bitcoinâs price has historically struggled to avoid the impact of such substantial increases in the OTC reserve.
After the Bitcoin Miner OTC desk balances spiked above 400,000 BTC in May 2018, Bitcoinâs price declined by 63% by December 2018.
A similar pattern was observed in November 2021 when the OTC desk balances reached an all-time high near 500,000 BTC. By January 2022, Bitcoinâs price had declined by 45%. These instances underline the significant impact that OTC balance spikes can have on Bitcoinâs price.
The recent increase in the OTC reserve may indicate potential selling pressure from miners, adding to the challenges in maintaining price stability.
The recent price volatility in the Bitcoin market has further amplified the spike in the miner OTC reserve.
#BTC #Bitcoin #CryptoNews #Altcoins #MtGoxRepayments $BTC $ETH $SOL
**Bitcoin Miners Face Profit Squeeze Post-Halving: JPMorgan Report**
Bitcoin miners are grappling with profitability challenges following the network's April halving event, according to a new report from JPMorgan. The halving, which cut mining rewards from 6.25 BTC to 3.125 BTC per 210,000 blocks, has led to lower margins and profitability.
**Key Points:**
- **Historic Quarter:** The second quarter of 2023 saw miners navigate the fourth Bitcoin halving, significantly impacting daily revenue opportunities.
- **Power Costs:** Rising power costs have further strained miners' profits.
- **Strategic Moves:** Cash-rich miners like Riot Platforms and CleanSpark acquired other miners to boost hashrate, while capital-constrained miners focused on greenfield opportunities.
- **Production Drop:** The five publicly-traded miners covered by JPMorgan mined 5,854 BTC in Q2, a 28% decrease from the previous quarter.
- **Market Leaders:** Marathon Digital Holdings led with 2,056 BTC mined, while CleanSpark gained market share with a $231 million investment in capital expenditure.
- **Equity Issuance:** Collectively, these miners issued $1.2 billion in equity to meet industry demands.
- **Diversification:** Some miners, like Hive Digital Technologies, are shifting computational power to AI applications, while others, such as Bitdeer Technologies, are investing in advanced mining equipment.
The report highlights the varied strategies miners are employing to adapt to the evolving landscape.
đ **Polygon (MATIC) Set for Major Rally! đ**
Polygon (MATIC) could see gains of up to 145% by year-end! Despite short-term challenges, key support levels and bullish indicators suggest a strong investment opportunity.
**Key Points:**
- **Support Levels:** $0.33 and $0.50 are crucial. Historically, these levels have triggered significant upward moves.
- **Indicators:** Stochastic RSI, 50-day MA, MACD, and Bollinger Bands all point to bullish momentum.
- **Strategies:**
- Enter long now for potential 145% gains.
- Wait for a retracement to $0.33 for a 290% return.
- Short MATIC before going long (high risk).
đŹ **Whatâs your strategy? Share in the comments!**