$BTC open interest still building up & looking more like sh | Metazen Financial Services on Binance Square

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$BTCopen interest still building up & looking more like shorts have a higher float in the OI build up here
$34,800 ~ key price for a squeeze
#BTC $BTC $ETH

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The Big Altcoin Report 2024: A Beginner's Guide for Q3 - By Metazen Metazen Market Analysts dive into the Altcoin landscape for Q3 This report provides a beginner-friendly analysis of the altcoin market for the rest of 2024, Q3. Why We're Bullish on Altcoins History tends to repeat itself in the crypto market. In late 2020, Bitcoin surged while altcoins seemed stagnant. Then, altcoins experienced a major rally. The current market behavior echoes this pattern, with a period of consolidation following a strong altcoin run-up. This suggests that a similar altcoin boom could be on the horizon. Metazen's Altcoin Picks and Buying Strategies The Sandbox (SAND) at $0.21 Stacks (STX) at $1.45 Arbitrum (ARB) at $0.65 Immutable X (IMX) at $1.21 Ethereum (ETH) at $2,880 (a core holding) Optimism (OP) at $1.55 Sei Network (SEI) at $0.24 Frontier (FRONT) at $0.84 JasmyCoin (JASMY) at $0.027 Omni (OMNI) at $9.20 Zcash (ZK) at $0.16 Rune (RUNE) at $3.48 IOST (IO) at $2.78 Telegram Open Network (TON) at $5.55 Nexo (NOT) at $0.11 Binance Coin (BNB) at $394 Pro Tip:Metazen analysts set buy orders 10-5% above or below the listed prices. The Ethereum ETF Launch and Its Impact The highly anticipated Ethereum ETF launches on July 2nd. While a massive price surge might not be immediate, it signifies a positive shift that could benefit the altcoin market in the long run. The Altcoin Market Reversal: When to Expect It Two Possible Scenarios for the Altcoin Market Cap: Option A (less likely): A bounce from the current $550 billion market cap, contingent on a swift improvement in overall market sentiment. Option B (more likely): A test of the $480 billion market cap followed by a bounce in mid-July. This could trigger temporary panic selling, but it would also signal an altcoin capitulation, historically a precursor to a price surge. Investors who enter the market now are positioned to benefit from the anticipated upswing in the coming months. Metazen analysts are ready with buy orders in place, expecting a significant altcoin rally by mid-July.

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Breakdown of the liquidation heatmap for Bitcoin over the past month

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📊 Bitcoin Liquidation Heatmap: 1-Month Time Frame Here's a breakdown of the liquidation heatmap for Bitcoin over the past month: Observation: Liquidity appears to be evenly distributed on both sides of the market, showing a symmetrical pattern. There is significant liquidity available both $10,000 above and $10,000 below the current price. Upside Liquidity: Interestingly, liquidity levels indicate slightly higher activity towards the upside, particularly around the $70,000 mark. This suggests that there may be more buying interest or support at this level. Downside Liquidity: While liquidity to the downside, particularly around the $51,000 level, is still significant, it appears to be slightly lower compared to the upside. This could indicate that there may be less selling pressure or support at this level. Understanding the distribution of liquidity can provide valuable insights into potential price movements and market sentiment. As always, it's essential to conduct thorough analysis and risk management when trading in volatile markets like Bitcoin. Stay informed with Metazen for more insights and analysis to help you navigate the Bitcoin market effectively! #Bitcoin #CryptoTrading #MarketAnalysis #BitcoinHeatmap #LiquidityAnalysis #MetazenServices #ExpertInsights 📈

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Bitcoin - What's Next? If you're new to the world of Bitcoin, don't worry, we've got you covered with the latest insights from Metazen. Here's what you need to know: Technical Analysis and More: The Bitcoin market may seem stagnant to some, but don't mistake sideways movement for weakness. Behind the scenes, significant events are unfolding. Whales have been quietly accumulating Bitcoin for weeks, and the printing of new USDT (a type of stablecoin) suggests that major market moves could be on the horizon. Right now, we're in what's known as the "pre-super cycle" phase, characterized by sideways trading within a specific price range. This phase is a precursor to a potential breakout above the $72,000 to $74,000 range, signaling the start of a super cycle. So, while things may seem quiet on the surface, it's only a matter of time before Bitcoin makes its next big move. Mining Economics and Price Predictions: The cost of mining Bitcoin has been fluctuating between $65,000 and $75,000 in recent days. Interestingly, our earlier prediction in January suggested that miners would need a Bitcoin price of $80,000 to remain profitable. Currently, miners are earning far less than this, with some even operating at a loss. However, this imbalance could be a bullish indicator, signaling potential price increases in the future. Navigating Market Volatility: In today's market, it's easy to get swept up in daily price fluctuations. One day Bitcoin may surge to $70,000, and the next day it could drop to $60,000, leaving investors feeling uncertain. However, it's important to understand the power of sideways movement. Sideways trading often signifies accumulation or distribution phases, which are crucial for understanding market dynamics. Looking Ahead: This week, we anticipate significant volatility in the Bitcoin market as key economic indicators, such as the Producer Price Index (PPI) and Consumer Price Index (CPI), are released. These reports could influence market sentiment and potentially lead to sharp price movements.

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Potential Upside Imbalance at $65,000 Bitcoin Market Summary

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