BTC has appreciated +93% relative to gold in 2023, whilst ETH is up 39% in gold terms
tldr; The digital asset market continues to post impressive relative performance, with both BTC and ETH appreciating meaningfully against USD and gold. However, within the industry, Bitcoin dominance continues to rise, as indicated by several indicators and approaches for observing capital rotation.
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tldr; The digital asset market continues to post impressive relative performance, with both BTC and ETH appreciating meaningfully against USD and gold. However, within the industry, Bitcoin dominance continues to rise, as indicated by several indicators and approaches for observing capital rotation.
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Sen Lummis: SEC is 'overreaching' on crypto
tldr; Senator Cynthia Lummis is opposing the Securities and Exchange Commission's (SEC) crackdown on the cryptocurrency industry. She plans to block one of the agency's new crypto policies, which she believes is an example of overreach. The policy, known as "Staff Accounting Bulletin 121," requires financial firms to hold customers' crypto assets on their own balance sheets and warn investors about the risks. Lummis argues that this policy could harm consumers if a digital asset custodian were to collapse. She is working on legislation to provide more clarity and regulation for the crypto industry and hopes it will pass in early 2024. Lummis also supports the House Financial Service Committee's crypto framework and is collaborating with Committee Chair Patrick McHenry to move the stablecoin component of her bill forward. She emphasizes the need for a clear regulatory framework in the crypto industry.
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tldr; Senator Cynthia Lummis is opposing the Securities and Exchange Commission's (SEC) crackdown on the cryptocurrency industry. She plans to block one of the agency's new crypto policies, which she believes is an example of overreach. The policy, known as "Staff Accounting Bulletin 121," requires financial firms to hold customers' crypto assets on their own balance sheets and warn investors about the risks. Lummis argues that this policy could harm consumers if a digital asset custodian were to collapse. She is working on legislation to provide more clarity and regulation for the crypto industry and hopes it will pass in early 2024. Lummis also supports the House Financial Service Committee's crypto framework and is collaborating with Committee Chair Patrick McHenry to move the stablecoin component of her bill forward. She emphasizes the need for a clear regulatory framework in the crypto industry.
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$GMT
$GMT/USDT Daily timeframe analysis.
Price Brake Trendline + retest of it we are in long with the Bullish +44% so far, expecting price to retest Resistance level and going for Full target +300%.
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$GMT/USDT Daily timeframe analysis.
Price Brake Trendline + retest of it we are in long with the Bullish +44% so far, expecting price to retest Resistance level and going for Full target +300%.
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$PYR (Update)
PYR/USDT Daily timeframe analysis.
Full target reached +50%, price took out Equal Highs and Old High.
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PYR/USDT Daily timeframe analysis.
Full target reached +50%, price took out Equal Highs and Old High.
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Crypto Hater Nouriel Roubini Launches own CryptoCurrency — The Pumpening
tldr; Nouriel Roubini, a prominent critic of Bitcoin and cryptocurrencies, has launched his own cryptocurrency called "Atlas". This comes as a surprise considering Roubini's history of attacking the crypto space. The Atlas token is pegged to a portfolio of real-world assets and aims to promote accessible and scalable returns in regions where they are most needed. The sudden change in Roubini's stance raises questions about his motives and whether he was always lying or starting a grift project.
tldr; Nouriel Roubini, a prominent critic of Bitcoin and cryptocurrencies, has launched his own cryptocurrency called "Atlas". This comes as a surprise considering Roubini's history of attacking the crypto space. The Atlas token is pegged to a portfolio of real-world assets and aims to promote accessible and scalable returns in regions where they are most needed. The sudden change in Roubini's stance raises questions about his motives and whether he was always lying or starting a grift project.
Trust Wallet's TWT Falls as Parent Company Binance Releases Web3 Wallet
tldr; TrustWallet's native token TWT fell 7% after Binance released its own Web3 wallet. The wallet, acquired by Binance in 2018, allows users to store and use cryptocurrencies across the DeFi ecosystem. Binance's new wallet is similar but only accessible via the platform's native app. TWT token had a positive week before the release, rising by over 60%. The role of TrustWallet alongside Binance's wallet release is unclear.
tldr; TrustWallet's native token TWT fell 7% after Binance released its own Web3 wallet. The wallet, acquired by Binance in 2018, allows users to store and use cryptocurrencies across the DeFi ecosystem. Binance's new wallet is similar but only accessible via the platform's native app. TWT token had a positive week before the release, rising by over 60%. The role of TrustWallet alongside Binance's wallet release is unclear.
ETH Daily Technical Outlook:
$ETH closed with a dragonfly doji and we should see more bullish pressure from here. However, I’ll be carefully monitoring the price action from the intraday chart to get another quick scalp although securing the current trade will be my priority.
$ETH closed with a dragonfly doji and we should see more bullish pressure from here. However, I’ll be carefully monitoring the price action from the intraday chart to get another quick scalp although securing the current trade will be my priority.
BTC Daily Technical Outlook:
$BTC closed slightly bullish and we should see more bullish pressure before getting a decent pullback. I’ll pay more attention to the intraday chart formation tomorrow to get another scalp once our current trade is secured.
$BTC closed slightly bullish and we should see more bullish pressure before getting a decent pullback. I’ll pay more attention to the intraday chart formation tomorrow to get another scalp once our current trade is secured.
ZachXBT says CoinSpot wallets appear to have lost around $2 million of crypto in possible hack
tldr; According to blockchain sleuth ZachXBT, two wallets connected to Australian crypto exchange CoinSpot have been drained of funds worth around $2 million in a possible hack. The transactions involved the transfer of 1,262 ETH to an attacker's address and the subsequent swapping of the coins for wrapped bitcoin, USDC, and USDT. CoinSpot has not yet responded to the incident.
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tldr; According to blockchain sleuth ZachXBT, two wallets connected to Australian crypto exchange CoinSpot have been drained of funds worth around $2 million in a possible hack. The transactions involved the transfer of 1,262 ETH to an attacker's address and the subsequent swapping of the coins for wrapped bitcoin, USDC, and USDT. CoinSpot has not yet responded to the incident.
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Crypto banking app Bitwala relaunches via new partnership with Striga
tldr; Crypto banking app Bitwala is relaunching operations under its original name, in partnership with banking infrastructure company Striga. Striga will provide Bitwala with "Banking and Crypto-as-a-Service," allowing the app to offer trading and card-issuing functionality. Bitwala, formerly known as Nuri, filed for insolvency in 2022 but is now accessible in 29 countries within the European Economic Area. Future plans include integrating the Lightning Network and introducing a crypto-backed Visa debit card. The relaunch marks a major milestone for Bitwala, which has faced challenges since its founding in 2015.
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tldr; Crypto banking app Bitwala is relaunching operations under its original name, in partnership with banking infrastructure company Striga. Striga will provide Bitwala with "Banking and Crypto-as-a-Service," allowing the app to offer trading and card-issuing functionality. Bitwala, formerly known as Nuri, filed for insolvency in 2022 but is now accessible in 29 countries within the European Economic Area. Future plans include integrating the Lightning Network and introducing a crypto-backed Visa debit card. The relaunch marks a major milestone for Bitwala, which has faced challenges since its founding in 2015.
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BTC Daily Technical Outlook:
$BTC closed indecisively and we need one more bullish candle to avoid the fakeout. I’ll focus on the intraday chart tomorrow to get another scalp once our current trade is secured.
$BTC closed indecisively and we need one more bullish candle to avoid the fakeout. I’ll focus on the intraday chart tomorrow to get another scalp once our current trade is secured.
ETH Daily Technical Outlook:
$ETH closed green but it still closed indecisively. We need a further bullish and healthier candle to get an upside rally towards $2,050. I’ll carefully monitor the price action on the intraday chart to get another quick scalp.
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$ETH closed green but it still closed indecisively. We need a further bullish and healthier candle to get an upside rally towards $2,050. I’ll carefully monitor the price action on the intraday chart to get another quick scalp.
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62% of Funded Blockchain and Web3 Companies Attract Fewer Than 100 Monthly Organic Visitors
tldr; 62% of funded blockchain and Web3 companies attract fewer than 100 monthly organic visitors, indicating a lack of web presence despite having funding. Only 0.95% of these companies pull in a massive 461 million visits a month combined, highlighting how a small number of companies dominate web traffic in the blockchain sector.
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tldr; 62% of funded blockchain and Web3 companies attract fewer than 100 monthly organic visitors, indicating a lack of web presence despite having funding. Only 0.95% of these companies pull in a massive 461 million visits a month combined, highlighting how a small number of companies dominate web traffic in the blockchain sector.
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Wild Bitcoin, Ether Price Swings Spur $400M of Crypto Liquidations, the Most Since August
tldr; The article discusses the recent wild price swings in Bitcoin and Ethereum, which resulted in over $400 million of open trades being liquidated. This is the highest amount of liquidations since the crash in August. The price swings occurred as Bitcoin surpassed $37,000 and Ethereum reached above $2,000, fueled by optimism over ETFs and institutional interest in cryptocurrencies. The volatile period led to a significant wipeout of leveraged positions, with $241 million of short positions and $200 million of long positions being liquidated. This marked the largest amount of liquidations in a day since August. Open interest for crypto derivatives also decreased as traders closed their leveraged positions.
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tldr; The article discusses the recent wild price swings in Bitcoin and Ethereum, which resulted in over $400 million of open trades being liquidated. This is the highest amount of liquidations since the crash in August. The price swings occurred as Bitcoin surpassed $37,000 and Ethereum reached above $2,000, fueled by optimism over ETFs and institutional interest in cryptocurrencies. The volatile period led to a significant wipeout of leveraged positions, with $241 million of short positions and $200 million of long positions being liquidated. This marked the largest amount of liquidations in a day since August. Open interest for crypto derivatives also decreased as traders closed their leveraged positions.
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XRP Daily Technical Outlook:
$XRP closed bearish and it can move in either direction depending on Bitcoin and XRPBTC. My focus will be on the intraday chart tomorrow to get another quick scalp.
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$XRP closed bearish and it can move in either direction depending on Bitcoin and XRPBTC. My focus will be on the intraday chart tomorrow to get another quick scalp.
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LTC Daily Technical Outlook:
$LTC closed indecisively and we should expect a reversal soon unless Bitcoin turns totally bearish. I’ll look for the next scalp setup based on the intraday chart volatility.
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$LTC closed indecisively and we should expect a reversal soon unless Bitcoin turns totally bearish. I’ll look for the next scalp setup based on the intraday chart volatility.
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