24-hour price movement:

BTC continues to be dumped, dropping to $94,200, raising suspicions about BlackRock's BTC movements.

Altcoins experienced a sharp decline, averaging 15-20% following BTC's adjustment.

Some altcoins hit lower lows compared to yesterday.

Over $510 million in stablecoin netflow was deposited onto exchanges in the past 24 hours.

24-Hour Price Movements:

- BTC experienced its first correction after a streak of hitting ATHs, with the price now dropping to $87k.

- XRP and XLM ("storm signal" coins) continue to show accurate predictions.

- The decline in BTC, along with an increase in BTC dominance (BTC.D), has led to a drop in most altcoins

- Most coins that are still rising are memecoins.

- Technology-focused coins continue to wait for a significant drop in dominance.

- Over $320 million in stablecoin netflow has been deposited into exchanges in the past 24 hours.

#BTC
#XRP

Market Overview on November 1
📌 Price Movement in the Last 24 Hours:
Bitcoin (BTC) closed October with a green monthly candle, hitting a high wick of $73,600, approaching its previous all-time high

.Short-term Trends: BTC is currently pulling back to the $69,000 level in sync with the U.S. stock market’s movements

.Stablecoin Outflows: Over the past 24 hours, approximately $342 million in stablecoins has been withdrawn from exchanges, indicating a potential reduction in available liquidity for immediate BTC purchases.

Love #BTC

24-Hour Price Movements:
BTC has returned close to its peak of $73,700 with strong upward momentum ahead of next week's U.S. presidential election.

Over $1 billion USDT was minted this morning

BTC Dominance (BTC.D) continues to rise, pulling liquidity from altcoins, which have yet to gain momentum


.A net inflow of over $160 million in stablecoins was deposited into exchanges over the past 24 hours.

MACROECONOMIC CALENDAR - WEEK 5 OF OCTOBER
➡️ This week features significant news that could trigger price volatility upon release, such as the GDP and Nonfarm Payroll reports, as they reflect the health of the U.S. economy, particularly impacting forex and crypto markets.
⭕ Current likelihood of the Fed cutting rates on November 8 (according to CME):
25 basis point cut: 92.5%No change: 7.5%

#BTC

The current market signals for Bitcoin (BTC) remain uncertain, with no clear confirmation of continued upward movement, even after the weekly (W) candle closed earlier today.
A significant indicator that could provide a clearer signal would be the minting of additional USDT (Tether).


In the past, the minting of USDT has often preceded BTC price increases.
The most recent notable instance of USDT minting occurred on September 16, when 1 billion USDT was minted. Shortly afterward, BTC saw a strong rise, surging from around $56k. If a similar amount of USDT were minted now, it could act as a powerful signal that Bitcoin's price might see another significant increase.
For holders with a good entry price on BTC, the strategy would be to remain patient and continue holding (HODL), as further market activity or signals could soon confirm the next price movement.

24h Price Movement:
BTC closed the weekly candle bullish above $69k, breaking out of the 6-month downtrend line.However, be cautious of a fake breakout as there is significant liquidity above $70k.The market is recovering, and altcoins are gaining momentum again.BTC.D (Bitcoin Dominance) is on a downtrend.Over $13 million in stablecoin netflow has been withdrawn from exchanges in the past 24 hours.

"In the first half of October, FTX will continue liquidating ~$16B in crypto to repay creditors (1).
-> Currently, there is no official date, so it's likely that FTX will release news around the time of debt repayment.
Similarly, Mt.Gox will also continue returning assets to victims during the October-November period (2).
(1) + (2) => This could potentially be a reason for short-term BTC pump-dump.
Additionally, the U.S. presidential election will take place on November 4th, and the Fed will continue to make new interest rate decisions in November and December."

Goodluck

Here’s the translation of the crypto news summary from the past week:
Binance delists 2 spot pairs: Binance announced the delisting of two spot trading pairs this week. This decision could be due to low liquidity or to optimize user experience.
MicroStrategy continues buying Bitcoin: MicroStrategy, led by Michael Saylor, continues to expand its Bitcoin holdings. The company regularly purchases large amounts of Bitcoin and maintains a strong investment strategy in the asset.
Binance addresses Moonbix game: Amid questions and information regarding the Moonbix game project, Binance officially responded, clarifying details about any potential partnerships or connections with the project.
Binance continues listing Futures pairs: Binance has expanded its Futures offerings, adding several new trading pairs to provide users with more diversified investment opportunities.
Binance Labs invests in Hemi Network: Binance Labs, the investment arm of Binance, announced its investment in Hemi Network. This is a positive signal for the project’s ecosystem, helping to boost technological development and scale expansion.
These moves highlight Binance's ongoing key position in the industry and its continuous expansion of products and services.

BTC.D & Support for 0.5% Interest Rate Cut Increases Sharply Over the Weekend
According to CME Watch, the support for a 0.5% cut has increased to 59%.
Last week, there was a time when the support for a 0.5% and 0.25% interest rate cut was equal at 50-50 (on the evening of September 13)
=> Experts are concerned that if the FED cuts 0.5%, it will implicitly send a message of economic instability
BTC.D continues to increase & reaches a 4-year high
=> The interest rate fluctuation scenario in September "is still correct" when BTC is the strongest market in the 5-month period after Halving
fighting!!!!!!!!!!

BTC hovers around $58k ahead of the most important week of the year - rate cuts!
- Altcoins are flat, some are showing good momentum
- Over $134 million in stablecoin netflow withdrawn from exchanges in the last 24 hours

09/09/2024

24h Price Action:
- BTC closed the green candle, started to recover back to $55k, trend retested the $56k - $58k resistance zone
- CME BTC $60k5 - $62k gap not filled
- BTC.D fell for the 4th consecutive day, some altcoins recovered well
- This week will have CPI & unemployment index news that can cause short-term fluctuations
- Over $44 million stablecoin netflow was deposited into exchanges in the past 24h

BTC dropped more than 3k in price from $59k8 to $56k1 after the news of the US government transferring Bitcoin to Coinbase, now recovered
- Most Altcoins are also falling to adjust with BTC
- The depressed period for Altcoins is expected to last until the end of Q3
- More than $49 million in stablecoin netflow was deposited into exchanges in the past 24 hours
Oh my God

- BTC continues to run in the range of $58k - $61k
- Tether prints another 1 billion USDT to prepare for market volatility with CPI news tonight
- Altcoins also continue to recover significantly, notably BTC.D is still in an uptrend
- More than $526 million in stablecoin netflow was deposited to exchanges in the past 24 hours
#BTC to the moon !!!!!!

SOS
- BTC closes the weekly candle green, the candlestick has a strong wick, however the recovery force is showing signs of weakening as BTC loses the $60k mark
- This week, there is news about CPI on August 13 that could cause short-term price fluctuations
- More than $198 million in stablecoin netflow was withdrawn from exchanges in the past 24 hours

- BTC recovers after historic drop from $58k to $49k - Crowd is still very dangerous as there is no news of war breaking out, market sentiment is in the "Extreme Fear" zone
- A lot of negative news appeared yesterday, especially the rumor that Jump Crypto is at risk of "going to the island"
- The current market is expecting a reduction in interest rates next September
- More Stablecoin cash flow of 870 million USD has been deposited into transactions within 24 hours

BTC plummeted more than 5k in price from $65k to $60k due to the impact of bad Non-farm news, escalating war and the impact of Genesis paying more than $4 billion to creditors
- Many altcoins have hit new lows, the market is sinking in fear again
- Market sentiment returns to fear
- More than $252 million in netflow was withdrawn from exchanges in the past 24 hours

Michael Saylor did not forget to remind everyone that since MicroStrategy started buying Bitcoin (August 2020), when money was being printed by central banks, until now, no asset can compare to BTC... except MicroStrategy stock :)
Short term, the price goes up and down, long term, Bitcoin is the best store of value asset in the world for the past 15 years.