VALIDATORS GROUP

Bitcoin’s 90-day correlation with US equities has increased to 0.17, up from a multi-year low of just 0.01 in March. Despite this rise, Bitcoin's correlation with risk assets remains significantly lower than its bull market highs of over 0.6.

Glassnode has reported that long-term Bitcoin holders, who had sold around 1 million BTC since late 2023, are now accumulating once again. This group has added approximately 70,000 BTC since the bottom of the cycle, as they see value in BTC's price consolidation above $60,000.

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Bitcoin is currently holding the support area, with the price testing it. This could lead to a continuation of sideways movement near the support area, potentially allowing for some accumulation.

Will the Stock Market Crash in 2024 (or is there more upside)? - Leadingtrader.com https://leadingtrader.com/will-the-stock-market-crash-in-2024-or-is-there-more-upside/

Bitcoin bounced from the support area but was unable to keep the upward momentum. Price is now slowly going towards the support area and we may see a bounce from there. Today is FOMC meeting and we are expecting high volatility in the market.

Bitcoin ETF products experienced inflows for the first time in five weeks, amounting to $130 million. The majority of these inflows, totaling $135 million, were observed in the US region. Additionally, Grayscale, a key player in the market, witnessed its lowest weekly outflows since January.

Bitcoin is going sideways as said. We may see some volume pump today when US markets open. Nothing has changed in the market as long as the price is holding the $60,000 support level.

ETH is once again testing the support area, demonstrating resilience as it holds firm. Accumulation appears to be underway, hinting at potential upward momentum. A bounce from the support area towards the resistance line could be on the horizon.

BTC miners are experiencing a notable decline in revenues after halving. This means the selling pressure is decreased.