Crypto Update
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🚨BREAKING: Abu Dhabi Bank Partners with Ripple for Cross-Border Payments using #XRP!! 👀
@xrpscripts what’s your say on this
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#Sol
The Trend Is Currently Up And Strong, With The Price Consolidating Within A Bullish Pennant Pattern. In The Event Of A Successful Breakout, A Move Towards $400 Is Expected In The Mid-Term
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#Xrp
Has Recently Been Declared Not A Security By The SEC, Bringing An End To The Case With A Fine. This Is Extremely Beneficial For Both The Entire #Crypto Market And XRP Itself. Furthermore, XRP Has Formed A Textbook Multiple-Year Symmetrical Triangle, And A Successful Breakout Could Lead To A Massive Bullish Wave, Potentially Pushing The Price Towards $3-5
Dm @xrpscripts for trading updates
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Major development! The $XRP lawsuit has been resolved, with Ripple emerging victorious. The SEC's initial demand for over $1 billion in fines has been significantly reduced to $125 million, a huge relief for Ripple and a positive outcome for the crypto space
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Buy YGG now $0.316-$0.318
Targets: $0.342-$0.38-$0.4
❌Stoploss: $0.275
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Buy/Long HIGH $1.250-$1.270
✅Targets: $1.462-$1.52-$1.6-$1.8-$1.9-$2
❌Stoploss: $1.190
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#Btc
Look Here What Btc Did In 2020 After Hitting Almost 4k Bitcoin Moves Towards Ath 70k+ According To This Chart Bitcoin Can Give Massive Returns In Midterm
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#Doge
Bouncing From Key Support Adding Some For Long Term This Crash Can Give Massive Returns In Coming Months
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Crypto investors have lost their nerve 😭😭😭
Market picture🎯
The cryptocurrency market was hit by a sell-off over the weekend, the likes of which haven't been seen in a long time. We would not have been surprised to see such a sell-off before the halving due to the last takeout of buyers before the start of active growth. There is nothing unusual about such a downward amplitude in a bear market either, but not now, when the 4-year cyclical pattern should work on the bulls' side.
Our pessimistic scenario of a 20% decline in capitalisation to the $1.79 trillion area has worked out, having made a very fast drop to the lower boundary of the corridor since March.
Bitcoin is down 13.5% from its peak at last week's close and has lost another 15% since the start of the day on Monday, falling below $49K at one point. Active pressure on the first cryptocurrency started after a failed attempt to go above $70K and overcome the resistance of the descending channel seven days ago.
At the same time, its lower boundary turned out to be not so strong, and the price flew through it with an acceleration, finding itself also under the 50- and 200-day moving averages. Worse, at its lowest point, Bitcoin dipped below its 50-week average. Without strong buyer support right now, it goes even lower, and it would trigger an even more active sell-off as it did in late 2021 and early 2022. If it doesn't hold either, it's worth preparing for a failure towards $42K.
News background
According to forecasting platform Polymarket, 48% of users believe Bitcoin will fall below the $60,000 mark in August. 26% of customers bet that BTC will drop to $55,000. 12% of users anticipate the first cryptocurrency to collapse to $50,000. Historically, August and September are considered the weakest months for BTC.
MicroStrategy acquired an additional 12,222 BTC for $805 million in Q2, bringing its total holdings to 226,500 BTC (~$14.7 billion). The average purchase price was $36,821 per coin; they spent a combined $8.5bn.
According to CNBC, Morgan Stanley's 15,000 financial advisors will offer spot bitcoin-ETF investments to their clients. The bank made this move first among Wall Street giants, reflecting the new stage of Bitcoin adoption. The reason behind the decision was the high demand from customers.
VanEck CEO Jan Van Eck said the first cryptocurrency is maturing, and its capitalisation will eventually reach half that of gold. Based on gold's current market capitalisation, the forecast calls for BTC to rise to $350,000 per coin. If central banks incorporate bitcoin into their ecosystems, it could potentially boost the asset's price to $1 million.
Hong Kong's largest online brokerage, Futu Securities International, has launched cryptocurrency trading for its 22 million users. Customers can trade BTC and ETH using Hong Kong dollars or US dollars.
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🚧 Bitcoin bleeds under $50,000 amidst global stock market sell-off, what to expect from the BTC cycle
📉 Bitcoin slipped below the $50,000 support early on Monday as stock markets around the world tumbled and bonds rallied amidst recession fears.
🔥 The crypto market noted $1.06 billion in liquidations in the past 24 hours, per Coinglass data.
📛 Bitcoin crashed alongside US stocks even as the 30-day Pearson correlation with the Nasdaq composite and S&P 500 is negative.
🤔 Bitcoin could extend losses by another 12% and sweep liquidity below $47,000 before beginning a recovery.
🎲 Crypto market capitalization dipped by 15% in the past 24 hours, according to CoinGecko data, down to $1.89 trillion at the time of writing on Monday. Bitcoin suffered a steep correction alongside the S&P 500 and the Nasdaq Composite despite having a negative 30-day correlation, per IntoTheBlock data.
Bitcoin dipped under $50,000, and the biggest cryptocurrency by market capitalization is likely to extend losses further.
Data from Coinglass shows that 24-hour liquidations in crypto exceed $1 billion, one of the biggest liquidation events since the FTX exchange collapsed.
Market participants remain uncertain whether this is the end of Bitcoin’s bull run.
♻️ Crypto market capitalization, S&P 500, and Nasdaq composite
The chart below shows the drop in crypto market capitalization alongside the correction in the S&P 500 and the Nasdaq Composite. After the recent US Federal Reserve meeting, there has been a negative impact on both stocks and risk assets like Bitcoin and cryptocurrencies.
♨️ The declines in the chart show a strong correlation between BTC and S&P 500 since July 31.
Stock markets worldwide continue to decline and bonds rally as fears of a recession increase uncertainty among crypto traders. Crypto market noted $1.06 billion in liquidation, one of the largest events since the FTX collapse.
Bitcoin could extend its losses further
Bitcoin’s price dipped under $50,000, a key psychological support level for the largest cryptocurrency by market capitalization. BTC could extend its losses by nearly 10% and sweep liquidity in the Fair Value Gap (FVG) between $45,614 and $46,800.
Bitcoin could sweep liquidity at $46,207 before beginning a recovery rally.
The Relative Strength Index (RSI) indicator reads 24.76, as BTC is currently in the “oversold” zone. When RSI is under 30, it generates a buy signal for the asset. Sidelined Bitcoin traders could consider entering the trade, based on this indicator.
📊 A daily candlestick close above key previous support, now resistance, at $58,526, could invalidate the bearish thesis for Bitcoin.
📯 Bitcoin doesn’t look like “The New Gold” says analyst
Joe Weisenthal of Bloomberg says that Bitcoin’s "store of value" thesis no longer stands. The analyst was quoted in a recent tweet:
Bitcoin doesn't look like The New Gold. It looks like 3 tech stocks in a trenchcoat.
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Although The Crypto Market Experiences Frequent Crashes, Resulting In Losses, Panics, Uncertainties, And Liquidations, These Events Also Present Opportunities For growth. As a Spot Trader, I Capitalize On These Crashes To Add More Spot Coins To My Portfolio For Long-Term Gains
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IF YOU HAVE 50k$ -$100k in CRYPTO and want to make $500k-1m$ by end of year max PLEASE REPLY “IM READY” and send a ss of your current portfolio AND he will add you on his future and spot trading team.
DM @xrplhq
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Altcoins Market Cap Still Moving Within This Range Breakout Can Lead Massive Bullish Rally In #Alts Over All We Are In Uptrend Its Trend Consolidation Bounce Can Start From Lower Line Of Channel Real #Crypto Rally Will Start After Channel Breakout
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#Flow
Multiple Résistance Got Cleared & Retested Already Last Candle Showing Still Bullish Momentum Is In Play As Long As #Flow Holds Ascending Trendline It Can Bounce
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🚧 Crypto Today: Bitcoin holders accumulate without fear, Ethereum struggles while XRP holds gains steady
♻️ Bitcoin long-term holders have continued to accumulate BTC consistently in the last two months.
🎯 Ethereum hovers around $3,100, struggles to make a comeback to resistance at $3,500.
📬 XRP sustains above $0.61 despite market-wide correction in crypto.
🔆 Curve DAO token CRV makes headlines as whale pulls over 20 million tokens off exchanges in three days.
💢 Bitcoin, Ethereum, XRP updates
Bitcoin hovers around $65,000 at the time of writing. The largest crypto asset by market capitalization noted large swings in its price in response to US macroeconomic releases. Long-term holders have accumulated the asset consistently in the last two months
🎲 Accumulation by long-term holders is bullish for the asset.
⚠️ Ethereum struggles to make a comeback above resistance at $3,500. The altcoin trades at $3,186 at the time of writing. Solana beat Ethereum in monthly DEX trading volume for the first time last month, per DeFiLlama data. Solana DEX trading volume was $55.876 billion against Ethereum’s $53.868 billion.
📯 Other high-performing chains include Arbitrum at $24.569 billion, Binance Smart Chain (BSC) at $17.888 billion, and Base at $15.554 billion in monthly DEX trade volume.
🔰 XRP held recent gains and sustained above $0.61 as traders continue to anticipate Ripple win in the Securities & Exchange Commission’s (SEC) lawsuit.
📈 Curve DAO (CRV) could extend gains by nearly 25% and rally to the upper boundary of the Fair Value Gap (FVG), acting as the resistance zone between $0.2982 to $0.3464. CRV could find support in the Fair Value Gap (FVG) between $0.2425 and $0.2519, as seen in the CRV/USDT daily chart.
Early on Thursday, August 1, CRV extended gains by nearly 7%. The Moving Average Convergence Divergence (MACD) indicator supports recent gains as the MACD line crosses above the signal line. Green histogram bars above the neutral line support the bullish thesis for the Curve DAO CRV token.
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