#BNBAnalysis #BTC | IMRAN008 on Binance Square

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#BNBAnalysis  #BTC

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$BTC Because of exchange rate variability between satoshis and national currencies (fiat), many Bitcoin orders are priced in fiat but paid in satoshis, necessitating a price conversion. Exchange rate data is widely available through HTTP-based APIs provided by currency exchanges. Several organizations also aggregate data from multiple exchanges to create index prices, which are also available using HTTP-based APIs. Any applications which automatically calculate order totals using exchange rate data must take steps to ensure the price quoted reflects the current general market value of satoshis, or the applications could accept too few satoshis for the product or service being sold. Alternatively, they could ask for too many satoshis, driving away potential spenders. To minimize problems, your applications may want to collect data from at least two separate sources and compare them to see how much they differ. If the difference is substantial, your applications can enter a safe mode until a human is able to evaluate the situation. You may also want to program your applications to enter a safe mode if exchange rates are rapidly increasing or decreasing, indicating a possible problem in the Bitcoin market which could make it difficult to spend any satoshis received today.

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#NFPCryptoImpact NFP is the acronym for the Nonfarm Payrolls report, a compilation of data reflecting the employment situation in the United States (US). It shows the total number of paid workers, excluding those employed by farms, the federal government, private households, and nonprofit organisations. The headline figure, expressed in thousands, is an estimate of the number of new jobs added (or lost, if negative) in a given month. But the report also includes the country’s Unemployment Rate, the Labor Force Participation Rate (or how many people are working or actively seeking a job compared to the total population) and Average Hourly Earnings, a measure of how wages increase or decrease month over month. Why is NFP important for Forex markets? The Forex (FX) market pays extra attention to the US macroeconomic figures, as they reflect the health of the world’s largest economy. Employment data is particularly relevant because of the Federal Reserve (Fed) mandate. “The Fed's modern statutory mandate, as described in the 1977 amendment to the Federal Reserve Act, is to promote maximum employment and stable prices. These goals are commonly referred to as the dual mandate,” according to the central bank itself. Generally speaking, a solid increase in job creation coupled with a low Unemployment Rate is usually seen as positive for the US economy and, hence, the US Dollar (USD). On the contrary, fewer-than-expected new jobs tends to hurt the US Dollar. However, nothing is written in stone in the FX market. Ever since the Coronavirus pandemic, markets’ dynamics have changed. The overextended lockdowns and the subsequent reopenings had an unexpected effect: soaring global inflation. As prices increased fast, central banks had no choice but to lift interest rates to tame inflation. This is because high rates make it more difficult to borrow money, reducing the demand for goods and services from households and companies and thus keeping prices at bay.

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#OnChainLendingSurge Bitcoin’s recent surge past the $100,000 mark is no small feat, considering 18 months ago many pundits thought the industry was dying or would fade into obscurity. Despite Bitcoin hitting $108,000 in December before falling to under $95,000, one need only look at its price on January 1, 2024 ($42,500) to see just how far the original cryptocurrency has risen. Rising crypto prices aren’t simply a reflection of the asset class’s usual ebbs and flows, but rather the result of a matured industry ready for growth. As 2024 winds down, decentralized finance’s (DeFi) total value locked (TVL) has increased to over $125 billion, while intriguing AI use cases and real-world asset (RWA) tokenization highlight crypto’s growth.

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#CryptoMarketDip What does “buy the dip” mean in crypto? It sounds rather simplistic and even “silly”. But it just means, you buy when the price is low. Conversely, it “should” also refer you to sell when the price is high, though seemingly those mentioning buying a “dip” are also those who think “taking profit” is a swear word when the price is rising. But in practise it’s not as easy to do. Firstly, most humans have an aversion to buying something which has just lost value. A falling price engenders fear of further falls. So it’s actually rather difficult for anyone to buy at those dips. It flies completely against all “common sense” judgement, definitely against any sort of “gut feel”. Second, how do you know it’s the “dip” before you see it rising again? I.e. you only know it’s a “dip” when it’s too late to do anything about it.

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#BinanceMegadropSolv Binance is excited to announce the 3rd project on Binance Megadrop - Solv Protocol (SOLV), a Bitcoin staking protocol, building a Bitcoin-centric financial ecosystem. Users can start participating in the SOLV Megadrop from 2025-01-07 00:00:00 (UTC).

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