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The future trend of the crypto market may depend on changes in interest rates📢
In crypto, the mini-crash in prices earlier coincided with a large drop in CME BTC futures contracts, showing that the position flush-out was not just limited to a crypto native audience, but to the mainstream investing audience as well. Much of the long positions were built up thanks to a string of positive news including the initial SEC vs Ripple ruling, the launch of Coinbase's 'Base' L2, the Paypal stablecoin, and of course anticipation of the spot BTC ETF approvals. As such, with long positions much cleaner than it's been in a few months, we expect hope to see another bottoming process being formed in prices here, though we wouldn't base surprised to see another leg further heading into September if real rates were to see another spike higher heading into Q4.
#crypto $BTC #position #Coinbase #ETF
In crypto, the mini-crash in prices earlier coincided with a large drop in CME BTC futures contracts, showing that the position flush-out was not just limited to a crypto native audience, but to the mainstream investing audience as well. Much of the long positions were built up thanks to a string of positive news including the initial SEC vs Ripple ruling, the launch of Coinbase's 'Base' L2, the Paypal stablecoin, and of course anticipation of the spot BTC ETF approvals. As such, with long positions much cleaner than it's been in a few months, we expect hope to see another bottoming process being formed in prices here, though we wouldn't base surprised to see another leg further heading into September if real rates were to see another spike higher heading into Q4.
#crypto $BTC #position #Coinbase #ETF
Global economic weakness reverses interest rate trends👀
With short-positioning extremely crowded in bonds, the soft global survey data was enough to temporarily crack the higher-for-longer facade, with 2/10s bull flattening by ~6bp and yields about 10-13bp lower across the curve. On the other hand, the 10am BLS Payroll revision of -306k (vs -500k expectation) gave a temporary pause to the bond rally with the labour market still looking solid, though eventually the short-squeeze continued with the bond rally squeezing all the way into and out of the 20yr treasury auction. Technical indicators are pointing to a further bullish retracement of bond prices back to the early August lows, with perhaps Powell's Jackson-Hole speech providing a possible trigger.
#interestrates #position #curve #BLS #bond
With short-positioning extremely crowded in bonds, the soft global survey data was enough to temporarily crack the higher-for-longer facade, with 2/10s bull flattening by ~6bp and yields about 10-13bp lower across the curve. On the other hand, the 10am BLS Payroll revision of -306k (vs -500k expectation) gave a temporary pause to the bond rally with the labour market still looking solid, though eventually the short-squeeze continued with the bond rally squeezing all the way into and out of the 20yr treasury auction. Technical indicators are pointing to a further bullish retracement of bond prices back to the early August lows, with perhaps Powell's Jackson-Hole speech providing a possible trigger.
#interestrates #position #curve #BLS #bond
- A GMX trader earned almost $1 million in profit by shorting Ethereum (ETH) during a price peak on July 14.
- They closed the #short position after the market crash on August 17.
- The trader quickly switched to a long #position on ETH, purchasing at $1,624.
- The current profit from this long position is $189,500.
- The #trader has executed a total of 10 #trades on GMX.
- Out of these trades, 8 have been profitable, indicating an 80% success rate.
- DappRadar's recent article by @the_LeticiaMelo claimed Ordinals' trading volume fell 97% since May.
- The accuracy of this data has been challenged by @cryptoslamio, stating Ordinals' May volume was $195 million, dropping to $65 million in July (a 66% decline).
- @domodata's Ordinals Marketplaces Dune dashboard confirmed May sales at $155 million, decreasing to $50 million in July (a 68% decline).
- DappRadar omitted BRC-20, accounting for 74% of May sales per Dune data.
- Comparing ATH #hype cycle with mature ecosystems, like Ethereum NFTs, saw declines too (49% from Jan to Mar 2023, 77% from Apr to Jun 2023).
- Ordinals spurred hype but experienced a typical NFT market decline, without changing belief in NFT tech or sector's future.
- South Korea's Supreme Prosecutors' Office has dedicated KRW 986 million (approx. $730,000) in 2023 for investigating cryptocurrency-related crimes.
- KRW 778 million (approx. $580,000) was spent on purchasing software licenses for virtual asset tracking and analysis tools.
- KRW 208 million (about $150,000) has been assigned to an Integrated Strategic Plan (ISP) aimed at establishing a platform to analyze and trace illegal virtual asset transactions.
- The platform's budget is in the preliminary review stage, with expectations of increased funding during the full construction phase.
$ETH $GMX
- They closed the #short position after the market crash on August 17.
- The trader quickly switched to a long #position on ETH, purchasing at $1,624.
- The current profit from this long position is $189,500.
- The #trader has executed a total of 10 #trades on GMX.
- Out of these trades, 8 have been profitable, indicating an 80% success rate.
- DappRadar's recent article by @the_LeticiaMelo claimed Ordinals' trading volume fell 97% since May.
- The accuracy of this data has been challenged by @cryptoslamio, stating Ordinals' May volume was $195 million, dropping to $65 million in July (a 66% decline).
- @domodata's Ordinals Marketplaces Dune dashboard confirmed May sales at $155 million, decreasing to $50 million in July (a 68% decline).
- DappRadar omitted BRC-20, accounting for 74% of May sales per Dune data.
- Comparing ATH #hype cycle with mature ecosystems, like Ethereum NFTs, saw declines too (49% from Jan to Mar 2023, 77% from Apr to Jun 2023).
- Ordinals spurred hype but experienced a typical NFT market decline, without changing belief in NFT tech or sector's future.
- South Korea's Supreme Prosecutors' Office has dedicated KRW 986 million (approx. $730,000) in 2023 for investigating cryptocurrency-related crimes.
- KRW 778 million (approx. $580,000) was spent on purchasing software licenses for virtual asset tracking and analysis tools.
- KRW 208 million (about $150,000) has been assigned to an Integrated Strategic Plan (ISP) aimed at establishing a platform to analyze and trace illegal virtual asset transactions.
- The platform's budget is in the preliminary review stage, with expectations of increased funding during the full construction phase.
$ETH $GMX
"Mastering the art of position sizing in trading: the key to unlocking success 🗝️💼📈 #TradingTips #management #Write2Earn #position $BTC $ETH $SOL
💵ONDO/USDT. #UPDATE
➡️$ONDO can monitor the white box as support, you can wait for📉 confirmation between reject or breakdown.📊
#alwaysdyor #position
➡️$ONDO can monitor the white box as support, you can wait for📉 confirmation between reject or breakdown.📊
#alwaysdyor #position
#Luna Come Back To High ⚡
👉Come Back #position is 1.5$ 👈
🔊 1 day #prediction2024 ⏱️
#TrendingTopic #Write2Earn $LUNA
👉Come Back #position is 1.5$ 👈
🔊 1 day #prediction2024 ⏱️
#TrendingTopic #Write2Earn $LUNA
Take Profit 🪙🪙🪙🪙
#CBKUSDT
A short trade just for 5 to 10 minutes.
Take a #position and quickly close it and get your profit.
Any time you get this existing position take it and ENJOY
Entry : 0.008090 to 0.008267
TP : 0.008400
TP : 0.008690
Leverage 20x
#Write2Earn #CBK
#CBKUSDT
A short trade just for 5 to 10 minutes.
Take a #position and quickly close it and get your profit.
Any time you get this existing position take it and ENJOY
Entry : 0.008090 to 0.008267
TP : 0.008400
TP : 0.008690
Leverage 20x
#Write2Earn #CBK
Market Update -
I've been indicating since $67k that #BTC is heading towards $75k, and soon everyone will see it happening.
Let's look at the current #Market_Sentiment: 👇
$BTC started the week strong, nearing another All-Time High close to $73000. We're still awaiting a retest of the psychological level at $70000 since the break above, so the reaction here will be crucial.
There's increasing liquidity above $75k, which serves as resistance. However, keep in mind that US #CPIdata today, and while it has had less impact on $BTC recently, it can still cause volatility, especially if there's unexpected data. Exercise #Caution especially in leveraged #position , until then.
If you found my analysis useful, please consider giving it a like.
Thanks for your support ❤️
I've been indicating since $67k that #BTC is heading towards $75k, and soon everyone will see it happening.
Let's look at the current #Market_Sentiment: 👇
$BTC started the week strong, nearing another All-Time High close to $73000. We're still awaiting a retest of the psychological level at $70000 since the break above, so the reaction here will be crucial.
There's increasing liquidity above $75k, which serves as resistance. However, keep in mind that US #CPIdata today, and while it has had less impact on $BTC recently, it can still cause volatility, especially if there's unexpected data. Exercise #Caution especially in leveraged #position , until then.
If you found my analysis useful, please consider giving it a like.
Thanks for your support ❤️
