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Throughout its major market cycles, Bitcoin's price tends to bottom out near the 200-week moving average. Long-term investors can track monthly color changes; orange and red dots signal overheating, suggesting selling opportunities, while purple dots near the 200-week MA historically indicate favorable buying times.
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Weekly RSI heatmap update: Majority of coins remain at neutral levels, averaging an RSI of 50.
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Market cap of the Magnificent 7 stocks has plummeted by a staggering $1.8 trillion since their respective peak values: 1. $AAPL: $400 bn 2. $NVDA: $330 bn 3. $TSLA: $310 bn 4. $MSFT: $250 bn 5. $META: $220 bn 6. $AMZN: $190 bn 7. $GOOGL: $70 bn
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According to Glassnode data, the BTC network hash rate is consistently rising, indicating continual investments in mining infrastructure. The mining hash rate is vital for Bitcoin's security, as greater hash power heightens the difficulty of network attacks.
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Grayscale has divested 50% of its Bitcoin holdings since launch, leaving them with a remaining 300,000 BTC in their onchain holdings
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Observe the influx of Tether supply. Each day, billions are being minted by Tether Treasury. In 2024 alone, the supply of Tether has surged by nearly $20 billion. Remember, this is only the start.
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Funding rates have been negative over the past few days, indicating an increase in short positions. This suggests that the market may be approaching a bottom. Those entering short positions late could face significant losses.
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In recent days, transaction fees on the Bitcoin network have surged, driven by excitement around BRC-20 tokens and Ordinals. Coins such as PUPS, WZRD, and PEPE are gaining liquidity through Bitcoin Ordinals.
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The Total Value Locked (TVL) in Real World Assets (RWA) has surpassed $6 billion. Despite recent market downturns, the RWA sector remains resilient. Moreover, it's poised to be a major narrative in the upcoming bull run.
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30 fund managers now hold BlackRock’s Bitcoin ETF. BlackRock is surpassing Grayscale; its IBIT is poised to exceed GBTC in assets by month's end. As of 15th April, IBIT holds over 270K BTC onchain
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At $66,000, over $1.7 billion in shorts could be liquidated. Is now the time to hunt short positions? What are your thoughts?
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Following the recent decline in BTC due to war conflicts, the RSI levels for most altcoins have back to weak region, with the average RSI standing at 38.83.
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The market has been crashing for the past two days, with Bitcoin dropping over 10%, yet the fear and greed index remains at 72. This is quite absurd.
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The current Bitcoin market enters the Euphoria phase; previous cycles had sharper pullbacks, current only mild corrections. This suggests that we might witness even deeper corrections. HODL and Do DCA
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BlackRock dominates the ETF market, leaving Grayscale in the dust. Fidelity holds its ground. In short, BlackRock rules the ETF race.
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Bitcoin historically hits its lowest point around the 200-week moving average in every market cycle. Watch out for the heatmap on this average - orange and red mean it's hot, maybe sell. But purple by the 200-week mark? Time to buy. Ignore the short-term noise.
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BTC is nearing all-time highs, with the halving fast approaching, and current funding rates present a bullish signal.
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The Blast ecosystem is primed for expansion, with noticeable increases in TVL, stablecoin market cap, and volume metrics. Furthermore, as a leading Layer 2 solution, it facilitates transactions at minimal fees.
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Base's user growth is exploding, thanks to $DEGEN L3. Which Base memes are you backing the hardest?
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Glassnode data shows an interesting trend: when profitable trades exceed the 95th percentile, two phases emerge: 1. "Pre-Euphoria" rally: Prices aim for previous highs. 2. "Euphoria" phase: Prices break those highs. Extended periods of high profitability indicate market strength, possibly leading to new highs.
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