**** Altcoin Rally **** whenever BTC consolidates , Alts pumps. The same is happening right now . after $BTC pump from 68k to 99k , Alts have jumped up by 30-35%. While some alts doing easy 2x and 3x.
now BTC is respecting a range of 92-99k. If BTC consolidates between this range with not making a new high , the money will flow into alts and Bitcoin dominance will come down. right now Bitcoin dominance is around 58. Alts season properly will start when btc dominance comes down under 52 . when btc dominance breaks below 47, the alts will explode .
but since Thanksgiving week is going on also the monthly end , we can expect some volatility . so be careful with your portfolios .
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**** Toma Airdrop Allocation **** I got this much Toma Airdrop after reaching gold 2 with 2.5 M tomato and buying premium medal. how much you got. you can stake to get 20% of other Airdrops #CryptoAirdrop #tomatoes #TomatoListing
I had 25k cats at snapshot and did 3 transactions but didn't buy OG pass . received 58k cats. seems like it will be 17$ atleast . well cats didn't ask much to do but am still disappointed with the Airdrop . they first said that cats will prefer quality over quantity but now they have more cats than dogs The pre market price is very low 0.0003 only
It's CPI data today which will decide whether Fed will take down interest rates or not . yesterday PPI data was good which pushed the market up. expecting CPI data to be good too . which means pump in whole crypto market $BTC
BTC can break the 62500 barrier . Also tomorrow is the CPI data release date. This data will decide whether to cut or not cut interest rates by FED. $BTC
Bitcoin is close to 4h 200 ema and seems like it can break it with a good volume now. also there is CPI data to be released on 13 august which will lead to the decision of cutting down interest rates or not
$BTC feeling the resistance of 57700 but as we have closed above 54600 for BTC, we can expect BTC to cross this resistance and then go or 62700. After the crash occured because of yen Carry trade and japanese removing their investments , market is recovering quite well.
The answer to current Downturn in Crypto as well as in stocks is " The yen carry trade " The yen carry trade is a popular financial strategy where investors borrow Japanese yen at low interest rates and use the funds to invest in higher-yielding assets or currencies. By capitalizing on the interest rate differential between the yen and other currencies or assets, traders aim to earn a profit from the higher returns while paying minimal interest on the borrowed yen. This strategy can impact currency markets significantly, as large-scale carry trades can influence exchange rates and financial flows. Understanding the yen carry trade is crucial for investors looking to navigate global markets and leverage interest rate disparities for potential gains. so Bank of Japan has been increasing interest rate since December 2023 but now the big sell off by japanese investors has taken effect. They have taken out all the money invested and will payback their loans. You can utilize such dips by buying more at low rates and DCA your positions . Never get in too much trades at such time. Be calm and observe the Market. Let the market settle and then invest in the best projects . Remember Alts are still at very low position and many alts haven't even recovered half of their previous All time high. Analyze your portfolio and try to invest wisely . Do your own research #MarketDownturn #Dyor2024
Crypto is highly volatile, making it both appealing and risky. Historical crashes are common in this market. Recently, Bitcoin fell to $49,000, affecting the entire crypto market. Key reasons include:
1. **Global Issues**: Global security and recession concerns are major factors. Military tensions in the Middle East and increased US military presence have created investor fear, impacting stocks and high-risk assets like crypto. The US stock market lost $2 trillion, and Japan’s market dropped 25% in a week. These issues have also hurt crypto. Additionally, recession fears, especially in economies struggling post-COVID-19 and the Ukraine-Russia war, have worsened the situation.
2. **US Elections**: Uncertainty over US election outcomes is affecting the market. Donald Trump’s crypto-friendly stance is overshadowed by allegations, including claims of illegal funding from Egyptian General Sisi. This has negatively impacted the market. With Joe Biden’s withdrawal, Kamala Harris’s increased chances (by 16%) add uncertainty, as she has shown no positive stance on crypto.
3. **FED Interest Rates**: High interest rates strengthen the dollar but weaken stocks and crypto. Uncertainty remains about whether the Fed will cut rates or increase them due to high inflation and unemployment, causing investor anxiety.
**Strategy**: Drops can be a buying opportunity. Those with assets in USDT can buy at lower prices to reduce average buying costs. DCA (dollar-cost averaging) during dips is beneficial. For those holding spot assets, it’s best not to sell at a loss but to stay patient. Avoid obsessing over your portfolio to prevent desperation and poor decisions. Focus on finding opportunities and reviewing your portfolio instead. #MarketDownturn
***** Coins List ***** Remember today is the deadline of Spot Etherium ETF. last time when it's was BTC ETF deadline , a fake news appeared that BTC spot ETF is approved which Increased BTC price for 1000$ but later on it came down to 39000 from 48000 when right news of delay arrived.
So Anything can happen today , even in case of approve of SPOT ETF of Etherium , market can take correction
remember only quality coins do well after the dips
Today is the Spot eth ETF deadline of vaneck spot eth ETF. This can create a lot of volatility in Market. Make sure to have enough usdt with you to buy the dip in case of dump if spot Eth ETF doesn't get approved. But if approved don't get FOMO . Let the market settle and then look for some quality coins . Well there have been very positive news regarding this ETF but as you know they can manipulate market to Grab liquidity so be careful. #dyor