VALIDATORS GROUP

Crashing Under $50,000? Bitcoin Is Suddenly Braced For Another ‘Crucial’ $9 Billion Earthquake After $2 Trillion Ethereum, XRP, Solana And Crypto Price Wipe Out https://www.forbes.com/sites/digital-assets/2024/07/05/crashing-under-50000-bitcoin-is-suddenly-braced-for-another-huge-9-billion-earthquake-after-2-trillion-ethereum-xrp-solana-and-crypto-price-wipeout/

Bitcoin is currently experiencing a downward trend and has been unable to maintain the $56,500 support level. There is a lot market panic due to the Mt. Gox distribution and the sale by the Germany Government. We may observe some sideways movement shortly, and we will have to wait and see how the market responds. Major Weekly Support Area: $52,000-$53,500 Resistance Area: $56,500-$57,000

Bitcoin has failed to hold the support area and is now trading below it. If the price is unable to reclaim the support area, we may see a continuation of the downtrend. Please use tight stop loss in all open trades. Support Area: $56,500-$57,000 Resistance Area: $60,000-$60,500

$105 Billion Electronics Giant Sony To Launch New Bitcoin Exchange https://bitcoinmagazine.com/business/105-billion-electronics-giant-sony-to-launch-new-bitcoin-exchange

Bitcoin Dominance is trading in a symmetrical triangle pattern. The break of this triangle will determine the next move. Price is currently heading towards the trendline support of the triangle. A break below the trendline is bullish for altcoins. Support Area: 54.00-54.10% Resistance Area: 54.90-55.30% Next Major Support Area: 51.90-52.15%

The Mayer Multiple metric, which assesses the ratio between price and its 200-day moving average (200DMA), is an essential tool for evaluating market momentum. The 200DMA serves as a simple indicator to gauge bullish or bearish trends, with any breaks above or below this average marking key market pivot points. The 200DMA is currently at $58,000, aligning with on-chain price models.

Bitcoin is experiencing a downward trend but is currently maintaining support. There is no need to panic as BTC is holding its support. Let's observe how the price behaves in the upcoming weeks.

📊 Big News! Yesterday, US spot Bitcoin ETFs saw a massive $130 million in net inflows, marking the largest influx in three weeks!

The altcoin market cap (TOTAL2) is gradually increasing as expected. Some altcoins are demonstrating strong performance as BTC continues its sideways movement. A rally in altcoins is imminent.

📊 Bitcoin Spot Trade Market Share Update: Over the past 12 months, Binance's share of all bitcoin exchange spot trades dropped from approximately 67% to closer to 30%. So, who captured the market share from Binance? Here's the increase in market share of spot volumes over the past 12 months: - Bybit: +20% - Coinbase: +3% - Rest of Market: +15% The landscape is shifting!