Bitcoin looks to be trading on shaky ground going into the April monthly close, with the threat of a much deeper price pullback a strong possibility.

One of the things I first learned when trading Bitcoin was to look for clues of possible price moves by examining the Crypto Total Market Cap chart and indeed anything alluding to a pending move in altcoins.
Source: Tradingview.com

 Looking at the total Market Cap chart and the most obvious observation on the daily chart is the bearish triangle pattern breakout has held true over recent weeks.

According to this very apparent downward triangle breakout on the chart the broader crypto market could be in for much more downside over the coming days and weeks.
Source: Tradingview.com

The overall target of the bearish triangle breakout is $1.6 trillion, meaning that a further $500 billion of downside could be coming.

It is also noteworthy that bearish Momentum divergence also extends down towards the $1.6 trillion to add further weight to this theory.'
Source: Tradingview.com

And to conclude discussing the Crypto Total Market Cap we need to discuss the recent change on Biyond Vanguard on the weekly time frame.

Just recently, we have added Biyond Vanguard indicator to Tradingview for subscribers, and THIS means that Vanguard CAN be attached to many different cryptos and asset classes.

Aside from this new exciting development itself, the broader point is that the Crypto Total Market Cap is close to turning bearish on the weekly time frame for the first-time since October 2023.
Source: Tradingview.com

This bearish signal could have some major implications next week, and could mean that bearish momentum will start to pick up.

Without exception, once a Red candle has been generated other red candles follow so this is a very ominous sign.

Santiment's CEO Maksim Balashevich has stressed caution for Bitcoin investors post-halving and that crypto whales often start selling early, while smaller holders buy or hold. 
Source: Santiment.net

Balashevich also suggests that the cryptocurrency market may well be gearing up to resume the bull trend for the next 12-months after the latest correction ends.

His analysis aligns very well with Biyond Vanguard and also the triangle breakout for the Crypto Total Market Cap.

I'd suggest being very selective and careful when buying Bitcoin and other cryptos in the coming week or weeks, just incase a much-larger drop is iabout to unfold.

#TOTALMARKETCAP #VanguardCrypto #santiment

Altcoins have been catching the attention of cryptocurrency investors, with Santiment, a blockchain analytics platform, tweeting about several big transactions on their respective networks.

According to Santiment, MATIC and FET have seen transactions valued at over $40 million, which are among the biggest of the year for their respective networks.

MATIC, the native token of the Polygon network, has been gaining popularity among investors due to its lower transaction fees and faster processing times compared to Ethereum. FET, on the other hand, is the native token of Fetch.ai, a decentralized platform that utilizes machine learning and artificial intelligence for blockchain-based solutions.

@azcoinnews

Aside from MATIC and FET, Santiment also advised investors to watch out for several other altcoins, including MANA, DIA, IMX, and SAND, after their recent whale moves. These moves refer to large transactions made by big investors, or whales, which can signal potential price movements or significant developments in the project.

MANA, the native token of the virtual reality platform Decentraland, has been performing well in the market, with its price steadily increasing over the past few weeks. DIA, the native token of the decentralized data platform DIA, has also been showing promising signs, with its price up by over 60% in the past month.

IMX, the native token of the Immutable X platform, has also been making headlines recently, with its launch on the Ethereum mainnet and its integration with major NFT marketplace OpenSea. Meanwhile, SAND, the native token of the virtual gaming platform The Sandbox, has been gaining traction among gamers and investors due to its potential in the growing metaverse industry.

As with any investment, it’s essential to exercise caution and conduct thorough research before investing in altcoins. While whale moves can provide valuable insights into market sentiment, they don’t guarantee a positive outcome. However, the recent activity in altcoins signals a growing interest in the cryptocurrency market, with investors eyeing potential gains in promising projects.

#altcoins #santiment #IMX #SAND #azcoinnews

This article was republished from azcoinnews.com

#Write2Earn The Bitcoin pre-halving rally can kickstart anytime with bulls eyeing $51,000 as #BTC price catches up to the S&P 500 rally.STORY HIGHLIGHTS#BitcoinWhales with 1,000 $BTC have largest holdings in 14 months.Bitcoin pre-halving rally to begin soon with investors eyeing $51,000.The broader crypto market is playing catch-up to equities and the S&P 500.Amid the broader market recovery, the world’s largest cryptocurrency Bitcoin (BTC) is making strong moves aging over 4% and shooting closer to $45,000. The development comes amid huge whale accumulation happening in Bitcoin over the past four weeks.Bitcoin Whale Supply at 14-Month HighOn0-chain data provider Santiment noted that the Bitcoin price has reclaimed the $44.5K mark for the first time since the commencement of the ‘ETF hangover’ retracement on January 12th. This resurgence in price is being attributed in part to the increase in holdings within wallets containing 1,000 or more Bitcoin.The data reveals that these large wallet holders, each possessing over 1,000 BTC, are currently holding their largest collective amount of Bitcoin in over 14 months. This accumulation trend among whales, or large investors, suggests a growing confidence in Bitcoin’s long-term value proposition, potentially contributing to the recent upward momentum in its price.Courtesy: #santiment Renowned crypto analyst Ali Martinez has shed light on a crucial development in the Bitcoin market, emphasizing a significant support zone for the leading cryptocurrency. According to Martinez, over 3 million addresses have collectively purchased nearly 1.50 million BTCs within the price range of $41,800 to $43,080.Renowned crypto analyst Michael van de Poppe has suggested that the correction phase for Bitcoin may be drawing to a close, indicating a potential pre-halving rally. Van de Poppe also forecasts that Bitcoin’s price trajectory could lead it toward the range of $48,000 to $51,000 in the near future.However, the Bitcoin miners have been selling recently in order to raise capital to purchase sophisticated mining rigs and boost operations.Catching Up to EquitiesGiven the assumption that the long-term correlation between crypto and the S&P 500 remains intact, there’s an argument suggesting that BTC and other cryptocurrencies will eventually catch up, possibly before Bitcoin’s halving in April. But with the Fed chair signaling a delay in the rate cuts, one cannot ignore the chances of strong volatility going ahead.With equities reaching new all-time highs, this presents a unique situation where cryptocurrency traders may hope for market values to closely align with the performance of publicly traded companies. Historically, crypto experiences its most significant bull runs when its correlation with stocks is minimal or nonexistent.#TrendingTopic

In a recent report, crypto analytics platform Santiment highlights key metrics indicating a potential rally for Bitcoin (BTC) in the near future. The report points out two crucial factors that may influence the cryptocurrency's price movement: the dominance of Bitcoin in social media discussions and a significant drop in its supply on exchanges. Additionally, Santiment also provides insights into Chainlink (LINK), another crypto asset, where whales are observed to be heavily accumulating it.

Bitcoin Dominates Social Media Discussions, Signaling "Fear"

After the Federal Open Market Committee (FOMC) implemented a 0.25% rate hike, discussions surrounding Bitcoin surged on social media platforms, overshadowing other cryptocurrencies. According to Santiment, such high social dominance for Bitcoin is often associated with "fear," which could potentially trigger an upward movement in its price. As market sentiment shifts, investors might flock to Bitcoin as a safe-haven asset.

Declining Bitcoin Supply on Exchanges:

The supply of Bitcoin on exchanges has reached a 55-month low, indicating a shift towards self-custody. Despite the recent drop below $30,000, there haven't been significant reactions in the form of fear, uncertainty, and doubt (FUD) or sell-offs. This decline in available BTC on exchanges could potentially create supply scarcity, which often results in increased demand and a positive impact on the asset's price.

Chainlink (LINK) Experiences Whale Accumulation

Switching focus to Chainlink (LINK), Santiment notes that the 22nd-largest cryptocurrency by market cap has seen a surge in prices. This is attributed to heavy accumulation by whales, with notable transactions valued at $1 million or more. Furthermore, wallets holding 100,000 to 10 million LINK are also rapidly accumulating, indicating strong interest and confidence in the asset.

In Summary

Santiment's analysis reveals optimistic indicators for both Bitcoin and Chainlink. With Bitcoin's social dominance suggesting potential price upside and its declining supply on exchanges supporting the positive outlook, investors may anticipate a rally for the flagship cryptocurrency. Simultaneously, Chainlink's price surge driven by substantial whale accumulation indicates growing confidence in the altcoin. As with any market analysis, it is essential to consider other factors and conduct thorough research before making investment decisions in the volatile world of cryptocurrencies. #BTC #bitcoin #santiment #chainlink #LINK $BTC $LINK