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Bitcoin is displaying highly volatile patterns in its one-minute candlestick charts.
🍀 Another solo miner mined block 920,440 on the Bitcoin network.
He managed to earn 3.126 BTC, which is about $347,000. The miner used his own mining pool on the Umbrel server.
🚨🙊🤩
🇺🇸 President Trump says he is “not looking to destroy China” and calls President Xi “a smart leader” who is open for a deal.- Fox News
📈 Glassnode notes that Bitcoin is between key support levels: below the 200-day moving average ($107,400) and just above the 365-day moving average ($99,900), with the 111-day moving average ($114,700) overhead.
Holding the 365-day moving average could stabilize the trend, while a break below it threatens a much deeper correction.
The capitalization of the largest stablecoin Tether (USDT) has almost reached $115 billion
•Since the beginning of 2024, the capitalization of USDT has increased by almost $20 billion. After its fall to $66 billion in 2022, the figure has been growing almost without corrections.
•At the end of July, Tether reported record profits - for the first half of this year, the company earned $5.2 billion, and the company's consolidated capital amounted to $12 billion.
💰 75% of all Bitcoin has been hodled for over 6 months
Despite Bitcoin dropping 21% from its all-time high, the majority of Bitcoin held in wallets hasn't been sold or moved for the last six months.
👺 Memcoins were the top cryptocurrency narrative in the second quarter of 2024, according to statistics from CoinGecko
Real Asset Tokenization (RWA) and Artificial Intelligence were in 2nd and 3rd place
Former MtGox CEO to Launch New Cryptocurrency Exchange 🚀
Mark Karpeles, the former Mt. Gox CEO, is launching a new crypto exchange called EllipX later this month in Poland. 🎉 With a strong focus on transparency and user-friendliness, EllipX aims to set a new standard in the industry. 🛡
Karpeles plans to apply a unique structure similar to the NYSE but for crypto, separating trading from brokerage and storage to enhance transparency. The platform will also feature a new, easy-to-use wallet with multi-party computation technology. 💼🔐
In addition to EllipX, Karpeles is launching Ungox, a non-profit that will rate crypto projects and exchanges. 📊✨ Former Mt. Gox users will receive special perks, including discounts and free NFTs. 🌟
Karpeles is determined to push for industry-wide transparency and better security.
The U.S. Bitcoin ETF holds 914k BTC worth $62 billion.
Assets under management grew 2.15 times its original size (in U.S. dollars) as of January 11, 2024.
Assets under management grew 1.44 times its original size (in BTC) as of January 11, 2024.
📊 VC firms are slowing down crypto investments for a 'nuanced reason' — Venture Capitalist
Adam Cochran highlighted that crypto funding has slowed as venture capitalists prefer to focus on “breakout trends” rather than “moonshots.”
JUST IN: 💰 Bitcoin miner Vortex Brands acquires MicroStrategy stock as a strategic asset
"The initial purchase of 10 shares of $MSTR is just the beginning, with the company planning to add at least that many shares monthly and report holdings quarterly."
💰 𝑩𝒊𝒕𝒄𝒐𝒊𝒏 𝑳𝒊𝒒𝒖𝒊𝒅𝒂𝒕𝒊𝒐𝒏 𝑨𝒍𝒆𝒓𝒕 🚨🚨
$𝟭.𝟮𝟴 𝗕𝗶𝗹𝗹𝗶𝗼𝗻 worth of Shorts will get liquidated if BTC hits $70,000
$𝟯.𝟭𝟴 𝗕𝗶𝗹𝗹𝗶𝗼𝗻 worth of Longs will get liquidated if BTC Hits $59,000
Ether ETF flows turned positive for the first time in over two weeks, driven by an $8.4 million inflow into BlackRock’s ETF.
Analysts are now eyeing a potential $ETH rally above $3,000 in October, although the price remains below the key $2,700 resistance level.
What’s your price prediction for $ETH in October?
🌚 - Below $2,700
⚡️ - $3,000
🔥 - $3,500
🐳 - $3,800 or more
Navigate Volatility with Bollinger Bands
Bollinger Bands are a must-have tool for traders and investors looking to confidently navigate the market's ups and downs. Developed by John Bollinger in the 1980s, this technical analysis staple helps you measure volatility, spot trends, and anticipate price reversals with just three simple lines on a chart.
Here’s how they work: the middle line is a simple moving average, while the upper and lower bands are set two standard deviations away from this average. When the price touches or moves outside these bands, it can signal overbought or oversold conditions, hinting at a potential price reversal. Additionally, the bands expand and contract based on market volatility, offering a visual cue to the market's mood.
Imagine you’re trading Bitcoin, and the price repeatedly hits the upper band. This suggests a strong uptrend, making it a potential buying opportunity. Conversely, if the price lingers near the lower band, it could indicate an oversold condition, possibly signaling it's time to sell.
In the highly volatile world of cryptocurrency, Bollinger Bands are especially valuable. They help you manage risk and make informed decisions based on historical price data. While no tool is foolproof, Bollinger Bands offer crucial insights to keep you ahead in the trading game
Inside Look at Prediction Markets
Prediction markets, some calls it betting markets, are platforms where participants can wager on the outcomes of future events—ranging from commodity prices and company earnings to election results. Much like stock exchanges, the 'price' of a bet in these markets reflects the collective belief in the likelihood of a specific outcome.
These markets aren't new; they've been around for over 500 years, with roots in political betting during the 1500s. By the late 19th century, Wall Street had adopted prediction markets, linking stock market outcomes to presidential elections. Here, prices represent the market's consensus on an event’s probability higher prices typically suggest a higher likelihood of occurrence.
While traditional markets involve indirect bets on events (like buying stocks that might soar if a particular candidate wins), prediction markets allow direct bets on specific outcomes, such as predicting the next president.
Types of Prediction Markets
1. Continuous Double Auction (CDA): This system is common in stock markets, where buyers and sellers are matched, and trades occur when bid and ask prices align.
2. Automated Market Makers & Market Scoring Rules:To ensure liquidity, this system has the platform act as the counterparty to all trades, setting prices based on market scoring rules.
3. Real Money vs. Play Money: Some prediction markets operate with real money, while others use virtual currencies. In play money markets, participants trade using virtual capital, accumulating gains as virtual currency.
4. Other Crowdsourced Forecasting: Other methods include opinion polls, which rely on collective opinions without employing stock market mechanisms.
In essence, prediction markets provide a platform for wagering on future events, with various systems from real money to virtual currency ensuring broad participation and liquidity.
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