Crypto Zamurai
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I wouldn't go long on BTC right now.
Go alt coins!🚀
$ADA $SOL $ETH
Go alt coins!🚀
$ADA $SOL $ETH
Binance News
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Bitcoin Bounces Above $70K: Unpacking the Factors Behind the Surge
According to Cointelegraph: With Bitcoin soaring back above $70,000, the bulls seem to have regained control. Notwithstanding prior negative spot Bitcoin exchange-traded funds (ETF) flows, could this hint at a new all-time high? There are three key reasons behind the recent surge in Bitcoin.
BTC/USD daily chart. Source: TradingView
1. Negation of Last Week's Negative ETF flows: Following a record period of inflows, investors withdrew more than $942 million last week, culminating in the first negative flow into crypto investment products. This sentiment was primarily centred on Bitcoin, accounting for 96% of these outflows. CoinShares attributes this to a drawdown in crypto prices. Despite this, Bitcoin managed to bounce back.
2. Spike in Bitcoin "Age Consumed" Metric: Bitcoin's Age Consumed metric, that tracks the movement of previously idle BTC coins, has seen a significant surge; with dormant BTC addresses moving BTC surging to its highest in over two years. This suggests an influx of erstwhile dormant Bitcoin back into circulation, hinting at an increase in network activity, which often precedes price volatility.
Bitcoin transaction volume. Source: Santiment
3. Possible Shift Towards an Altcoin Season: While Bitcoin has outperformed most altcoins over the past week, several large-cap altcoins have produced remarkable gains. Polkadot, Avalanche, and Litecoin have witnessed net inflows, according to the CoinShares report. Additionally, analysts have noted that overbought conditions in the altcoin market could lead to a potential altcoin rally following a decline in Bitcoin's market dominance.
Total altcoins market capitalization. Source: TradingView
At the time of publication, despite Bitcoin dominating 51.77% of the market, the prospect of an 'altseason' gathers momentum as the total crypto market cap hovers at $1.191 trillion, as per CoinMarketCap. However, for a true altseason to be declared, 75% of the top 50 coins would need to outperform Bitcoin over 90 days as per the Altcoin Season Index by Blockchain Center, which is not the case currently.
Altcoin season index. Source: Blockchain Center
BTC/USD daily chart. Source: TradingView
1. Negation of Last Week's Negative ETF flows: Following a record period of inflows, investors withdrew more than $942 million last week, culminating in the first negative flow into crypto investment products. This sentiment was primarily centred on Bitcoin, accounting for 96% of these outflows. CoinShares attributes this to a drawdown in crypto prices. Despite this, Bitcoin managed to bounce back.
2. Spike in Bitcoin "Age Consumed" Metric: Bitcoin's Age Consumed metric, that tracks the movement of previously idle BTC coins, has seen a significant surge; with dormant BTC addresses moving BTC surging to its highest in over two years. This suggests an influx of erstwhile dormant Bitcoin back into circulation, hinting at an increase in network activity, which often precedes price volatility.
Bitcoin transaction volume. Source: Santiment
3. Possible Shift Towards an Altcoin Season: While Bitcoin has outperformed most altcoins over the past week, several large-cap altcoins have produced remarkable gains. Polkadot, Avalanche, and Litecoin have witnessed net inflows, according to the CoinShares report. Additionally, analysts have noted that overbought conditions in the altcoin market could lead to a potential altcoin rally following a decline in Bitcoin's market dominance.
Total altcoins market capitalization. Source: TradingView
At the time of publication, despite Bitcoin dominating 51.77% of the market, the prospect of an 'altseason' gathers momentum as the total crypto market cap hovers at $1.191 trillion, as per CoinMarketCap. However, for a true altseason to be declared, 75% of the top 50 coins would need to outperform Bitcoin over 90 days as per the Altcoin Season Index by Blockchain Center, which is not the case currently.
Altcoin season index. Source: Blockchain Center
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I'm a Physicist and Science teacher from Paraguay, making my way into crypto. I see potential on crypto to change the world, I y do my own research and share what I learn here!
#HotTrends #btc
I'm a Physicist and Science teacher from Paraguay, making my way into crypto. I see potential on crypto to change the world, I y do my own research and share what I learn here!
#HotTrends #btc
Bitcoin Halving Explained:
Bitcoin halving is a programmed event within the Bitcoin protocol that cuts the reward for mining new bitcoins in half. It happens roughly every four years, with the specific timing tied to the creation of new blocks on the blockchain.
🔸Reduced Supply: The main purpose of the halving is to gradually reduce the total supply of BTC There's a finite limit of 21 million bitcoins that can ever be mined. The halving helps control inflation and potentially increases scarcity over time.
🔸Miner Rewards: Miners who validate transactions on the Bitcoin network are rewarded with new bitcoins. The halving cuts this reward in half.
⚠️News and updates on the Upcoming Bitcoin Halving⚠️
🔸Timing: The next Bitcoin halving is expected to occur around April 20, 2024. This will be the fourth halving event since Bitcoin's launch.
🔸Price Impact: Historically, halvings have been followed by significant price increases. However, it's not guaranteed and past performance doesn't predict future results. Some analysts predict a price surge, while others warn of a potential pre-halving correction [Cointelegraph].
🔸Investor Interest: The upcoming halving has sparked increased interest from institutional investors, potentially impacting long-term price trends [CoinDesk].
$BTC #HotTrends #Halving #BTC
Bitcoin halving is a programmed event within the Bitcoin protocol that cuts the reward for mining new bitcoins in half. It happens roughly every four years, with the specific timing tied to the creation of new blocks on the blockchain.
🔸Reduced Supply: The main purpose of the halving is to gradually reduce the total supply of BTC There's a finite limit of 21 million bitcoins that can ever be mined. The halving helps control inflation and potentially increases scarcity over time.
🔸Miner Rewards: Miners who validate transactions on the Bitcoin network are rewarded with new bitcoins. The halving cuts this reward in half.
⚠️News and updates on the Upcoming Bitcoin Halving⚠️
🔸Timing: The next Bitcoin halving is expected to occur around April 20, 2024. This will be the fourth halving event since Bitcoin's launch.
🔸Price Impact: Historically, halvings have been followed by significant price increases. However, it's not guaranteed and past performance doesn't predict future results. Some analysts predict a price surge, while others warn of a potential pre-halving correction [Cointelegraph].
🔸Investor Interest: The upcoming halving has sparked increased interest from institutional investors, potentially impacting long-term price trends [CoinDesk].
$BTC #HotTrends #Halving #BTC
Solana's price is on the rise 📈
Approaching $200 for the first time since December 2021, after a week of price fluctuations between $138 and $197.
🔸There are still some reports of partial withdrawals being halted on the Solana network due to high transaction volume. However, the exchange is working on improvements.
🔸The Solana official website highlights upcoming protocol-level improvements aimed at maintaining the network's high performance.
⚠️ NFT and Developer Ecosystem:
🔸Solana-based NFT marketplace Tensor announced the launch of their governance token, indicating continued innovation in the Solana NFT space.
🔸A case study highlighted the success of Boba Guys' loyalty program built on Solana, showcasing the potential of the network for real-world applications.
Ultra Bullish on $SOL #2024 #HotTrends
Approaching $200 for the first time since December 2021, after a week of price fluctuations between $138 and $197.
🔸There are still some reports of partial withdrawals being halted on the Solana network due to high transaction volume. However, the exchange is working on improvements.
🔸The Solana official website highlights upcoming protocol-level improvements aimed at maintaining the network's high performance.
⚠️ NFT and Developer Ecosystem:
🔸Solana-based NFT marketplace Tensor announced the launch of their governance token, indicating continued innovation in the Solana NFT space.
🔸A case study highlighted the success of Boba Guys' loyalty program built on Solana, showcasing the potential of the network for real-world applications.
Ultra Bullish on $SOL #2024 #HotTrends
Bitcoin Halving Explained:
Bitcoin halving is a programmed event within the Bitcoin protocol that cuts the reward for mining new bitcoins in half. It happens roughly every four years, with the specific timing tied to the creation of new blocks on the blockchain.
🔸Reduced Supply: The main purpose of the halving is to gradually reduce the total supply of BTC There's a finite limit of 21 million bitcoins that can ever be mined. The halving helps control inflation and potentially increases scarcity over time.
🔸Miner Rewards: Miners who validate transactions on the Bitcoin network are rewarded with new bitcoins. The halving cuts this reward in half.
⚠️News and updates on the Upcoming Bitcoin Halving⚠️
🔸Timing: The next Bitcoin halving is expected to occur around April 20, 2024. This will be the fourth halving event since Bitcoin's launch.
🔸Price Impact: Historically, halvings have been followed by significant price increases. However, it's not guaranteed and past performance doesn't predict future results. Some analysts predict a price surge, while others warn of a potential pre-halving correction [Cointelegraph].
🔸Investor Interest: The upcoming halving has sparked increased interest from institutional investors, potentially impacting long-term price trends [CoinDesk].
$BTC #HotTrends #Halving #BTC
Bitcoin halving is a programmed event within the Bitcoin protocol that cuts the reward for mining new bitcoins in half. It happens roughly every four years, with the specific timing tied to the creation of new blocks on the blockchain.
🔸Reduced Supply: The main purpose of the halving is to gradually reduce the total supply of BTC There's a finite limit of 21 million bitcoins that can ever be mined. The halving helps control inflation and potentially increases scarcity over time.
🔸Miner Rewards: Miners who validate transactions on the Bitcoin network are rewarded with new bitcoins. The halving cuts this reward in half.
⚠️News and updates on the Upcoming Bitcoin Halving⚠️
🔸Timing: The next Bitcoin halving is expected to occur around April 20, 2024. This will be the fourth halving event since Bitcoin's launch.
🔸Price Impact: Historically, halvings have been followed by significant price increases. However, it's not guaranteed and past performance doesn't predict future results. Some analysts predict a price surge, while others warn of a potential pre-halving correction [Cointelegraph].
🔸Investor Interest: The upcoming halving has sparked increased interest from institutional investors, potentially impacting long-term price trends [CoinDesk].
$BTC #HotTrends #Halving #BTC
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