π¨ππΎ π¨ CRYPTO CAFFEINE
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This is arguably the most important relationship in crypto:
π΅ $USDT market cap
π’ $USDT dominance
In bullish moves, we typically see $USDT market cap rise while dominance falls (b/c newly minted stables are directly allocated into alts).
This started again on Sept. 6th.
Bitcoin πΈBullish Triggers π
π’Money Supply at ATH
π’Q4 Most Bullish Time Period for #Bitcoin
π’US Elections Coming
π’Rate Cuts Happening
π’Big Accumulation Done
π’ETF's Still Buying
π’Bitcoin Options Launching
Not the Time to Sell - We Are Going Up!!π
Top Overnight News
Apollo offered to invest as much as $5 billion in Intel, a person familiar said, just days after Qualcomm was said to have floated a friendly takeover. The chipmaker is considering Apolloβs proposal. BBG
Today the U.S. Commerce Department is expected to propose prohibiting Chinese software and hardware in connected and autonomous vehicles on American roads due to national security concerns. RTRS
China cut its 14-day reverse repo rate by 10bp (from 1.95% to 1.85%) and injected ~CNY75B worth of liquidity via the policy tool; Chinaβs PBOC tomorrow will hold a briefing on providing support for the economy, a move sparking speculation of further stimulus steps. WSJ
Eurozone flash PMIs for Sept slump below expectations as growth cools, with manufacturing coming in at 44.8 (down from 45.8 in Aug and vs. the Street 45.7) and services at 50.5 (down from 52.9 in Aug and vs. the Street 52.3). S&P
Oyo, the India-based hotel firm, is buying Motel 6 from Blackstone in a deal worth $525MM (the transaction will be a part of Oyoβs US expansion plans). WSJ
Russiaβs red lines have been shredded and its nuclear threats are repeatedly ignored, forcing Putin to search for new sources of deterrence. WaPo
Israel and Hezbollah exchange flurry of fire over the weekend as fighting continues to dramatically escalate between the two sides. Israeli strike in Lebanon on Friday didnβt just take out a senior military commander (Ibrahim Aqil), but an entire class of senior leaders, part of a deliberate plan to eliminate those most critical to the terror groupβs ability to fight a war. WSJ / CNN
Israel warns Lebanese civilians to evacuate from villages where Hezbollah is storing weapons as the IDF intensifies air strikes. Israel stepped up air strikes against Hezbollah in southern Lebanon this morning, urging civilians to move out of the area. The IDF struck multiple targets as the two sides move closer to an all-out war. NYT / BBG
Kamala Harris is expected to release new economic proposals this week with the proposals aimed at middle-class wealth-building and the economic incentives for business to facilitate that, according to Reuters sources. It was also reported that Harris accepted a CNN debate invitation and challenged former President Trump to a debate although Trump rejected the offer and said it was 'too late' for another debate.
US House Republicans unveil three-month stopgap bill to avert a government shutdown which would fund the government through December 20th and omits changes to voter registration that Trump had called for.
https://www.tradingview.com/x/PGRo0yy1/
#btc 1hr if break above 64k retest to make it support will be the positive sign for above bias.
https://www.tradingview.com/x/nNvlNm7q/
#BTC HIGHER TIME FRAME , forming cup and handle still a bullish projection.
Lower time frame updated above.
https://www.tradingview.com/x/5Gfcu7tn/
#BTC πconsolidation follows . Reference above.
consolidation_types-2.png (1270Γ657)
https://26693533.fs1.hubspotusercontent-eu1.net/hubfs/26693533/Imported_Blog_Media/consolidation_types-2.png
https://bybit.com/en/invite?ref=MQNRKP
#Btc bullish consolidation π
SUMMARY OF FED DECISION (9/18/24):
1. Fed cuts interest rates by 50 bps for first time since 2020
2. Fed sees 2 more 25 basis point rate cuts in 2024
3. One Fed governor dissented for the first time since 2005 in favor of a 25 bps rate cut
4. Fed gained "greater confidence" that inflation is moving to 2%
5. Fed will "carefully asses incoming data" and evolve outlook
6. Fed sees 100 bps of rate cuts in 2025 and 50 bps of cuts in 2026
The long awaited "Fed pivot" has officially begun.
Binance relentlessly buying while Bitmex sells
Binance OI is steeply increasing with the rate cut news
while Bitmex whales are more or less selling / aren't showing signs of actions.
This might indicate that late longs from the retails are building heavily while whales are still waiting for a clear picture of the rate cut.
ARKHAM GOVERNMENT BITCOIN HOLDINGS LEADERBOARD
1. United States - $12.16B
2. United Kingdom - $3.67B
3. Bhutan - $782.46M
4. El Salvador - $351.75M
Honorable Mention - Germany - ZERO (down from $3.56B)
You dont believe me? Here are just *some* of the major projects ETH has outperformed in the past year!
-XRP
-Cardano
-BCH
-DOT
-Litecoin
-Monero
-Aptos
-Stellar
-ETC
-Filecoin
-ARB
-OP
-ATOM
-Maker
-MATIC
-Celestia
-ALGO
-EOS
https://www.tradingview.com/x/RfppWubg/
CME GAP UNFILLED #BTC , CANT IGNORE π
