Mad Maxx🎭🔥
@makst552
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Solana Reclaims $150 As It Enters Crucial Resistance: $200 Target Activated for the SOL Price Rally!
After rising above $150, the SOL price is juggling around $153 and $155 as the upward pressure remains restricted within a range. Therefore, the price is now expected to rise within the range before the end of the day, failing which the price could face another pullback. However, the 5th largest token, Solana has triggered a 10% upswing in the past 24 hours and also has become the 5th largest traded token.
Will the Solana (SOL) price reclaim the crucial resistance at $180, intending to achieve $200?
The Solana price experienced a massive fall recently, losing over 50% in less than a week, marking the bottom close to $110. However, the current trade set-up suggests the selling volume has largely faded, which may pave the way for a sustained ascending trend. Besides, the +Di & -Di have triggered a divergence suggesting a bullish crossover of DMI could be nearby. 0 reply
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Mt. Gox Bitcoin Distribution Nears Its End Following $2 Billion Move, How Much Is Left?
In a recent X (formerly Twitter) post, AI-powered blockchain analytics platform, Arkham Intelligence uncovered a new substantial BTC transfer conducted by Mt. Gox. According to Arkham’s reports, the defunct Bitcoin exchange had moved a whopping 33,960 BTC valued at $2.25 billion on July 31.
The blockchain platform disclosed that Mt. Gox’s massive Bitcoin transfer was probably sent to addresses believed to be owned by BitGo, a digital asset trust company and security firm. Arkham has revealed that BitGo is the fifth and final custodian working directly with Mt.Gox to help return funds back to creditors.
Following its 33,960 Bitcoin transfer, Mt. Gox now holds about 32,899 BTC worth over $2.11 billion. This figure is based on the current price of BTC, which at the time of writing is trading at $64,622 according to CoinMarketCap. 0 reply
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Bitcoin recently surged past $69,000, maintaining this level for a few minutes before softening to $68,764 at press time. This surge was supported by the 50-hour and 200-hour moving averages, which are currently at $66,951 and $68,075, respectively. These averages are crucial support levels that helped Bitcoin's price stay above $69,000.
Technical Indicators Signal Strength
The Bollinger Bands indicate that Bitcoin's price is pushing the upper band, suggesting overbought conditions but also strong upward momentum. The On-Balance Volume oscillator shows stable accumulation, indicating steady buying interest that helps maintain the price level. Additionally, the MACD histogram and signal lines show a positive divergence, with the histogram's positive values and the widening gap between the MACD and signal lines pointing to growing buying momentum. 0 reply
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Daily digest market movers: Bitcoin declines 2.36% on Tuesday as Mt. Gox starts repayment
— Lookonchain (@lookonchain) July 24, 2024
On Tuesday, US spot Bitcoin ETFs experienced outflows totaling $77.80 million. During this period, Grayscale (GBTC), ARK 21Shares (ARKB), and Bitwise (BITB) decreased their holdings by 404.45 BTC, 774.82 BTC, and 1,040 BTC, respectively, while Blackrock (IBIT) added 1,070 BTC.
This decline suggests a slight weakening of investor confidence, potentially contributing to a temporary dip in Bitcoin's price on Tuesday. The net inflow data from ETFs is crucial for assessing investor sentiment and understanding market dynamics. Together, the 11 US spot Bitcoin ETFs currently hold reserves amounting to $53.16 billion in Bitcoin. 0 reply
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