LIVEaulakh
@Square-Creator-9e8e035a739e
aulakh
Following
Followers
Liked
Shared
See original
#TON market movements
LIVE
Binance News
--
Toncoin Outperforms as TON Blockchain Restarts, Defying Market Downturn
According to CoinDesk: Toncoin (TON) has emerged as a standout performer in the crypto market, trimming losses and outperforming major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) as the TON blockchain successfully restarted after a five-hour outage. This resilience comes despite a broader market downturn that saw significant liquidations and declines across most major tokens.The TON blockchain's downtime, partly attributed to the overwhelming popularity of the DOGS airdropâa campaign aimed at raising awareness of Telegram founder Pavel Durov's arrestâdid little to dampen the performance of Toncoin. As the blockchain came back online, TON's losses were minimized, leaving it down by less than 1%, according to CoinDesk Indices data. In contrast, the CoinDesk 20 (CD20), a benchmark for the largest and most liquid digital assets, dropped over 6.5%.The broader market saw Bitcoin slide 6%, while Ethereum, Solana (SOL), Cardano (ADA), and Dogecoin (DOGE) all fell by over 5%. XRP showed relative strength with a 3.4% decline, while TRX outperformed with a 2% drop.Market analysts pointed to a series of significant liquidations as a driving force behind the market's downward spiral. Over $300 million in crypto futures liquidations occurred, with Ether futures seeing the largest share at $102 million, followed by Bitcoin at $96 million. The resulting long squeeze, where traders are forced to sell into a falling market, exacerbated the losses.Open interest in Bitcoin futures dropped from $34 billion on Monday to $31 billion, signaling waning trader sentiment. The sell-off was further fueled by substantial outflows from U.S.-listed Bitcoin exchange-traded funds (ETFs), which saw $127 million in net outflows on Tuesday, breaking an eight-day streak of inflows. Ethereum ETFs continued their losing streak with $3.45 million in outflows."BTC ETFs saw a very large $127 million in outflows as traders appeared to take profit after the Jackson Hole rally," said Augustine Fan, head of insights at on-chain financial products provider SOFA. "Meanwhile, ETH continued its poor momentum with the 9th consecutive day of outflows."AI-related tokens, which had been riding high on anticipation of Nvidia's earnings report, also took a hit. NEAR dropped 10%, while FET and Bittensor's TAO fell by 11.8% and 11.3%, respectively. "Sentiment around AI has definitely shifted," noted Fairlead Strategies founder Katie Stockton, pointing to Nvidia's influence on market dynamics.Amid the turbulence, institutional interest in the asset class remains strong. Hong Kong-based custodian Hex Trust announced the launch of a staking partner program, providing clients with expanded access to staking opportunities.As the market digests these developments, Toncoin's ability to recover quickly from the TON blockchain's outage may signal underlying strength, even as the broader crypto landscape grapples with volatility and uncertainty.
LIVE
Coinpedia
--
Why Is Bitcoin Up Today? Michael Saylor Happened !
The post Why is Bitcoin up Today? Michael Saylor Happened ! appeared first on Coinpedia Fintech News
Bitcoin had fallen to a danger zone between $56,600 and $52,500 on September 5. Last time this happened, Bitcoin touched $49,000 twice in one day on August 5.The recent fall of BTC under $56,600 caused huge tension in the market, as September is very notorious for being a red month for the largest cryptocurrency. However, on September 9, it suddenly took a jump and shocked the market. Letâs explore all the answers to why this happened.
TradingView Chart Showing Momentum
In the last 24 hours, the market cap of the cryptocurrency ecosystem has increased by 2.51% and reached $2.09T. The price of BTC suddenly took a surge of around 6.52% and by passing Moving average 20 and 50. However, MA 100 did not let it pass; it dropped by 2.5% to retest the nearest support zone around $56,600. The RSI is showing a bullish momentum and recorded at 61 points. Fear and Greed index, that was showing a high fear at 26 mark is at 33 and showing a reduction in market fear.
Crypto Fear and Greed Index
Looking at the chart, it looks like BTC will try to solidify its support at $56,600 however the fear of September will still give advantage to bears. Closing above this support level is very important for Bitcoin or there are chances it has to look towards $50,000 for a support and rebounce.
Other Market Metrics
Data from IntoTheBlock shows that at the current price, most of the Bitcoin investors are in the money. This clearly shows that 79% of the BTC investors bought the coin under $56,960. This leaves 13% out of the money meaning they are still in loss, and 8% investors bought at the current price.Â
IntoTheBlock
Around 4.55 million BTC addresses holding a total volume of 2.26 million Bitcoin have bought the assets between the price range of $55,507 to $61,396 with an average buying price of $58,690. The major resistance lies ahead of $60,000. There are 6.93 million addresses holding 3.14m BTC with a minimum buying price of $61,396 and a maximum price of $72,500. This $11,000 price gap created a huge resistance.
Liquidation Data
In the last 24 hours around 39,647 trades were liquidated and the total liquidated amount was $128.42 Million. What is interesting to see is that just two days ago, the liquidation data consisted of long trades. However, the current data shows that in the last 24 hours, the market has liquidated short trades which gives a bullish signal.
Coinglass
Bitcoin had the biggest short liquidation of around $43.85 M followed by ETH at $31.98 M. Interestingly, Dogecoin, which follows Bitcoin price movement very closely, also has a short liquidation of $2.57 M.
Coinglass How Michael Saylor Boosted Bitcoin Today?
The founder and chairman of famous Microstrategy, Michael Saylor was invited by CNBC on September 9 for a discussion on Bitcoin. When he was questioned about his opinion on the profits generated by Bitcoin he did not hold back and clearly shared the profits his company is making with BTC. He said that since August 2020, Microstrategy has bought about $8.3 Billion worth of Bitcoin. He said â We leveraged Bitcoin and are 825% up while the number 1 stock in S&P is 821%. So we beat every single company in S&P using our Bitcoin strategy.â
When asked about the recent $1.2 Billion worth of outflow from the Bitcoin Spot ETFs, Saylor replied by saying that he thinks generally thatâs a good thing as it created more demand. Bitcoin is a smart money and it is the most liquid and fungible free market in the world.
Bitcoin Price Prediction
Talking about Bitcoin referred to as digital gold, Andres Ross asked Saylor about the behavior shown by Bitcoin in times of panic. Saylor replied by explaining that if you are a long term holder, you are in profit as bitcoin moves with yearly profit of around 44%. And even if you are a short term trader, the market provides a lot of arbitrage opportunities.
In the words of Saylor Â
If you can hold Bitcoin for more than 4 years, you are going to get superior performance with its volatility. As of now Bitcoin is merely 0.1% of world market cap and it is going to be 7%.
He shared his prediction of Bitcoin price in the next 21 years. According to him Bitcoin is going to be at $13 Million in the span of 21 years, and all you gotta do is hold some bitcoin.
The result
After this interview was aired, Bitcoin started to show positive momentum. If Michael Saylor is so confident in Bitcoin, the market will follow. Bitcoin showing a sudden up movement of around 7% in the notorious month of September is a signal that over the period of decade, BTC has evolved. For the last few years, we have witnessed that whenever there is panic in the market, it creates buy opportunities. That is how the Bitcoin whales accumulate assets and fill their bags.
Bitcoin had fallen to a danger zone between $56,600 and $52,500 on September 5. Last time this happened, Bitcoin touched $49,000 twice in one day on August 5.The recent fall of BTC under $56,600 caused huge tension in the market, as September is very notorious for being a red month for the largest cryptocurrency. However, on September 9, it suddenly took a jump and shocked the market. Letâs explore all the answers to why this happened.
TradingView Chart Showing Momentum
In the last 24 hours, the market cap of the cryptocurrency ecosystem has increased by 2.51% and reached $2.09T. The price of BTC suddenly took a surge of around 6.52% and by passing Moving average 20 and 50. However, MA 100 did not let it pass; it dropped by 2.5% to retest the nearest support zone around $56,600. The RSI is showing a bullish momentum and recorded at 61 points. Fear and Greed index, that was showing a high fear at 26 mark is at 33 and showing a reduction in market fear.
Crypto Fear and Greed Index
Looking at the chart, it looks like BTC will try to solidify its support at $56,600 however the fear of September will still give advantage to bears. Closing above this support level is very important for Bitcoin or there are chances it has to look towards $50,000 for a support and rebounce.
Other Market Metrics
Data from IntoTheBlock shows that at the current price, most of the Bitcoin investors are in the money. This clearly shows that 79% of the BTC investors bought the coin under $56,960. This leaves 13% out of the money meaning they are still in loss, and 8% investors bought at the current price.Â
IntoTheBlock
Around 4.55 million BTC addresses holding a total volume of 2.26 million Bitcoin have bought the assets between the price range of $55,507 to $61,396 with an average buying price of $58,690. The major resistance lies ahead of $60,000. There are 6.93 million addresses holding 3.14m BTC with a minimum buying price of $61,396 and a maximum price of $72,500. This $11,000 price gap created a huge resistance.
Liquidation Data
In the last 24 hours around 39,647 trades were liquidated and the total liquidated amount was $128.42 Million. What is interesting to see is that just two days ago, the liquidation data consisted of long trades. However, the current data shows that in the last 24 hours, the market has liquidated short trades which gives a bullish signal.
Coinglass
Bitcoin had the biggest short liquidation of around $43.85 M followed by ETH at $31.98 M. Interestingly, Dogecoin, which follows Bitcoin price movement very closely, also has a short liquidation of $2.57 M.
Coinglass How Michael Saylor Boosted Bitcoin Today?
The founder and chairman of famous Microstrategy, Michael Saylor was invited by CNBC on September 9 for a discussion on Bitcoin. When he was questioned about his opinion on the profits generated by Bitcoin he did not hold back and clearly shared the profits his company is making with BTC. He said that since August 2020, Microstrategy has bought about $8.3 Billion worth of Bitcoin. He said â We leveraged Bitcoin and are 825% up while the number 1 stock in S&P is 821%. So we beat every single company in S&P using our Bitcoin strategy.â
When asked about the recent $1.2 Billion worth of outflow from the Bitcoin Spot ETFs, Saylor replied by saying that he thinks generally thatâs a good thing as it created more demand. Bitcoin is a smart money and it is the most liquid and fungible free market in the world.
Bitcoin Price Prediction
Talking about Bitcoin referred to as digital gold, Andres Ross asked Saylor about the behavior shown by Bitcoin in times of panic. Saylor replied by explaining that if you are a long term holder, you are in profit as bitcoin moves with yearly profit of around 44%. And even if you are a short term trader, the market provides a lot of arbitrage opportunities.
In the words of Saylor Â
If you can hold Bitcoin for more than 4 years, you are going to get superior performance with its volatility. As of now Bitcoin is merely 0.1% of world market cap and it is going to be 7%.
He shared his prediction of Bitcoin price in the next 21 years. According to him Bitcoin is going to be at $13 Million in the span of 21 years, and all you gotta do is hold some bitcoin.
The result
After this interview was aired, Bitcoin started to show positive momentum. If Michael Saylor is so confident in Bitcoin, the market will follow. Bitcoin showing a sudden up movement of around 7% in the notorious month of September is a signal that over the period of decade, BTC has evolved. For the last few years, we have witnessed that whenever there is panic in the market, it creates buy opportunities. That is how the Bitcoin whales accumulate assets and fill their bags.
#MyFirstSquarePost New to Binance Square, thrilled to share and connect with everyone here!
Explore the latest crypto news
âĄïž Be a part of the latests discussions in crypto
đŹ Interact with your favorite creators
đ Enjoy content that interests you
Email / Phone number
Trending Topics
Token2049
18.1M views
8,404 Posts
#bitcoinupdate2024 đšđšđš "As I mentioned in my last post that we are present in the 4th wave, and the 5th is yet to come. Now, we are in the 5th wave, and it is essential to see where the 5th wave ends. I have been informing you all the time from the beginning till now, posting after the completion of each single wave. Just as I showed you, Bitcoin has prepared the chart in the same way since the start. All the guidance I provided to everyone is here in front of you in each post. Those who have been following me since the beginning know how many people were bearish a few days ago, but I guided you that nothing like that would happen. When Bitcoin dropped to 52k, people were in panic, and at that time, no one had an idea. I guided you based on technical analysis from the start until now, and the result is in front of all of you. Anyone in need of guidance can mention their number in the comments."
#Token2049 #FOMC #BinanceLaunchpoolHMSTR #NeiroOnBinance
TrustMeBro
24 Likes
18.3k views
FOMC
24,395 views
22 Posts
BinanceLaunchpoolHMSTR
29.8M views
11,638 Posts
