Get a quick grasp of the crypto market through a straightforward summary including:
• Market analysis
• 24-hour market stats
• Major news
📊 Analysis:
$BTC is currently working to maintain its position within a range following some market manipulation.
While $BTC faced a substantial drop to $25,000 after months of trading around $30,000, the recent resurgence to the $27,000 range following Grayscale’s legal victory underscores the market’s potential for swift shifts.
The connection between the market’s recent pump and the Grayscale-SEC lawsuit outcome indicates the influence of regulatory developments on crypto valuations. This suggests that news-driven volatility could persist in the short term.
The area within the green box on the chart appears promising for considering long positions.
📰 Noteworthy News:
• There are 7 upcoming deadlines for $BTC ETF approvals.
• Bloomberg analysts have increased the likelihood of spot $BTC ETF approval to 75% within this year.
• The supply of Paypal's stablecoin #PYUSD has surged by over 60% in just a month.
• Binance plans to discontinue support for $BUSD by 2024.
📈 Market Stats:
• $BTC Exchange Balance: 0.1% ⬆️
• $BTC Dominance: +48.87 ↔️
• Fear & Greed Index: 52 ⬆️
• $BTC Long/Short Ratio:
→ Long: 51.86% ⬆️
→ Short 48.14% ⬇️
🟢 Highest Funding Rate:
• $IOST Bybit → 0.8278%
• $BOBA Bybit → 0.3479%
• $BONK Bybit → 0.3421%
🔴 Lowest Funding Rate:
• $CYBER Bitget → -1.4994%
• $CYBER Bybit → -1.2494%
• $CYBER Binance → -0.9760%
▫️ 24H REKT Positions: $37.19M
→ Long: $27.44M ⬇️
→ Short: $9.75M ⬇️
▫️ Cumulative Potential Liquidations
🟢 $5.5B Long Liquidation ⬇️
