Dear traders,
Today we have inflation report in US what is big market mover. Please don’t take trades in front of news realise market could swing hard in both directions.
Jake
TOP Trader
BTC:
BTC hits and hold 30k and now cooling of before Inflation data news. If inflation come less than 5.2% we could see a pump to 32k and if come bigger then 5.2% we could see drop to 28k. Don’t trade in front of news. BTC dominance pumping and ALTs are dropping, for ALTs to pump BTC dominance need to fall down.
ETH:
ETH dropping to support and 1850$ and showing no strength before Inflation and upgrade news. Today is Shanghai upgrade day when unstacking of ETH will be possible and with that there is possibility that many ETH will be sold. Don’t take trades before news!
XRP:
XRP consolidating at 0.5$ and need to hold it for next push up. Good for small longs with target 0.6$.
LINK:
LINK still consolidation under 7.4$ and waiting for market to move up. Good for spot buy for long term.
SOL:
SOL make big push and now 22$ holds as support. Looking bullish for next leg up if 22$ holds.
DXY:
DXY holds 102 and need to hold it for next leg push up. Only bad news could pump it up.
Crypto/stock daily news:
GRAPH OF THE DAY: BTC SUPPLY DORMANT FOR 2+ YEARS
Another day, another record broken by Bitcoin…
The latest record? 53% of Bitcoin’s circulating supply has been dormant for 2+ years.
No movement. No selling. Nada. It’s been locked down like the Krabby Patty secret formula.
The craziest part? 29% of the supply hasn’t moved in the last 5 years. That’s over $150B of Bitcoin. And they say hibernating is only for bears…
What’s causing this? 2 things:
1/ It’s estimated that ~20% of the total BTC supply is either lost or held by a wallet that cannot be accessed. Pour one out for the guy with two guesses left to access his BTC holdings worth >$200M.
2/ Holders see potential from the recent developments on the Bitcoin network (i.e. Ordinals, etc.) and are looking ahead to the widely anticipated halving next year.
Bitcoin’s halving occurs every 4 years and cuts the rate of new supply in half. This has historically led to substantial price increases, with all 3 previous halvings bringing new ATHs a year later.
This is big because: Holders prevent selling pressure, and this shows people are holding tighter than ever.
It also shows that investors are becoming more comfortable with price fluctuations and increasingly see the long-term potential of Bitcoin.
Satoshi would be proud.
Final words:
Today is day Inflation rates are coming and market will follow with data. Don’t take trades before market news!!!
Copy trade GROW 0.1->10k$ since 18.03 we got +20% what is great for start.
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Sentiment Is now BULLISH and real test for bulls are this week.
Not Financial Advice!
Good luck with trades!
Author
Jake
TOP Trader
