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Cryptomarketcap

CRYPTO MARKET CAP is completing an IH&S and set a 2.18T target.The Crypto Total Market Cap (TOTAL) has broken above its Bear Cycle Falling Wedge since March and is now about to complete the Right Shoulder of the Inverse Head and Shoulders (IH&S) pattern whose Head priced the bottom. The 1W MA50 (blue trend-line) is the Support since March while the 1W MA100 (green trend-line) the Resistance since May 2022. Standard IH&S patterns go for a 2.0 Fibonacci extension and as you see that falls almost exactly on the 2.17T Resistance (March 28 2022 High). That's at 2.18T and it is our long-term target. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTOCAP:TOTALLong
by TradingShot
1
DEATH OF THE DOLLARDear Friend,    “Wake up you guys. If you're saving US dollars, you're like the skipper on the titanic. You know they're going to have to print more and more and more and more all the time… This makes savers the biggest losers on planet earth.”   But here is what is fascinating… I know you will agree.   As the dollar gets weaker and weaker, Bitcoin and cryptocurrencies are getting stronger and stronger.    I’m going to say that again because it is so important. As the dollar gets weaker and weaker, Bitcoin and cryptocurrencies are getting stronger and stronger.    The giant hedge funds and investing firms are slowing their purchase of dollars and U.S. bonds...   They are now using their profits to buy cryptocurrencies.   The Wallstreet Journal reports that mainstream hedge funds are pouring BILLIONS of dollars into crypto. They go on to say that world famous traders including Alan Howard and Paul Tudor Jones are said to be increasing their trading in cryptocurrencies.If you want to become a successful investor, extra cash to pay off your debt, enjoy extra time with your loved ones, live your dream life…   Thank you for taking the time to read my letter,
TVC:DXY
by mehdi_kb
2
MARKETS week ahead: May 28 – June 3Last week in the news The saga over US debt-ceiling continues to be number one topic among investors and financial markets. During the previous week both EU and US equity markets gained on a possibility that the deal could be soon reached. On the other hand, the crypto market continues to trade in a relatively calm mood, for the second week in a row. Bitcoin is ending the week above $26.5K, and Ether above $1.8K. The debt-ceiling talks are still in the spotlight of investors, and a question of what sort of the deal will be accomplished. As per House Speaker Kevin McCarthy, some progress has been made, but more progress is needed in order to accomplish the deal. News reported on a possibility for the debt-ceiling to be raised for a period of two years. At the same time, the US Treasury Secretary warned on Friday that the US Treasury will be able to serve its obligations until June 5th, which is now treated as a new “X date”. As announced on Friday, the Core Personal Consumption Expenditures rose 0.4% compared to the previous month, and 4.7% on a yearly basis. Considering that results were higher from market expectation, markets are now pricing a 25 bps increase of interest rates at the FOMC meeting in June. The German economy officially entered into technical recession as of the end of the previous year. Officially published data on German GDP show a negative trend for the last two quarters, which pushed the largest EU economy into recession. Economists are of the opinion that the trend of falling GDP should not continue during the course of this year, however, there are no expectations that GDP will grow, either. The National bank of Norway in its report noted that the regulation around crypto assets should be further developed. They commented on recently adopted MiCA regulation within the EU, which should get into force soon, and expressed the opinion that the national bank should react sooner than to wait for internationally accepted regulation. This comes especially taking into account collapses of stablecoins, like Terra, and largest crypto exchanger FTX. Cathie Wood, founder of the investment firm ARK Invest, commented at the Fortune`s Next Gen conference that the US is currently losing the battle within the crypto world, due to lack of a clear regulatory framework. The businesses around digital assets are moving away from the US, as Coinbase (COIN) received a license to operate in Bermuda and is looking for a way to further expand in Singapore. South Africa is another country in line, which has introduced a law on regulating crypto business. Starting from 1st June all companies that conduct business within the area of the digital assets, need to hold a regular license from the country's Financial Sector Conduct Authority (FSCA). Such a move was generally perceived as a positive by local companies dealing with crypto assets. Crypto market cap The so-called X-date is now set for June 5th, at least per latest statements from Treasury Secretary Yellen. The negotiations are still taking place, while House Speaker Kevin McCarthy noted that some progress has been made but more progress is needed. This was enough for financial markets to enter again in a positive mood and trade accordingly. Although the equity markets gained on this glimpse of a potential deal in the coming period, still the crypto market continues to be in a calm phase. Investors are here on hold, waiting to see the final outcome of the debt-deal in order to position within the crypto market. For the second week in a row total market capitalization remained relatively flat. During the previous week, total market cap was decreased by modest $8B or 1%. There has been almost equal number of coins which gained and lost in value during the week. Daily trading volumes continue to be decreased, still moving around SGX:40B on a daily basis. Market is on a road of exhaustion, waiting for a specific signal in order to be back on the old road. Total crypto market capitalization increase since the beginning of this year remained flat at 43%, where it has added a total $327B to the market cap. Previous week was one of the rare weeks on the crypto market when there had been almost equal numbers of winning and losing coins. However, both gains and losses were in a relatively lower range. Considering that overall volume of market cap remained relatively flat, it seems that currently there is more of a repackaging of current portfolios, rather than actual flow on or from crypto market. Bitcoin lost almost $4B in market value, which represents 0.7% of its total value. Ether remained flat with a small gain of 0.4% during the week, while BNB had a modest drop of $0.7B or 1.4%. Coins which gained the most during the week in a relative terms were NEO, surging more than 10% and was followed by Miota, with a gain of 8% in the market value within a single week. Tron also had a good week, with a gain in value of 7.6%, as well as Polygon, who surged by 5.5% w/w. On a losing side were Algorand, who dropped by 9.2%, while Uniswap was down by 5.2% w/w. As for coins in circulation, XRP continues to gain since the start of this year, adding 0.2% new coins during the previous week. Tether increased its coins in circulation by 0.3%, while Filecoin`s circulating coins were up by 0.2% during the previous week. Crypto futures market In line with the spot market, the crypto futures market was also traded in a relatively calm mode during the previous week. Short term BTC futures were down by some 0.6% on average, while ETH futures only modestly gained during the week, of some 1.5% on average. Longer term BTC futures had a higher drop from short term ones, of some 1.3%. Futures maturing in December this year were last traded at price of $27.305, which was 1.03% lower from the week before, while those maturing in December 2024 were down by 1.17% w/w, ending the week at price of $27.950. ETH longer term futures were traded a bit higher, around 0.6% w/w. In this sense, futures maturing in December this year were last traded at price of $1.834, while those maturing in December next year were closed at price $1.881. Range of prices for both coins between short and longer futures remains to be very tight. This indicates that markets are still perceiving future prices of both coins in the light of a potential recession in the US and tighter monetary conditions, from which the crypto market will not benefit.
CRYPTOCAP:TOTAL
by XBTFX
#CryptoMarketCap Analysis #Crypto $BTCTraders and Investors, Let's talk about the crypto market. There has been a lot of discussion lately about each and every little move that Bitcoin makes. A little move up sends bullish sentiments and over-the-moon projections across social media. Whereas a downward move creates despair. 🙂 This has been going on for weeks and months. So let's see what has been happening to the crypto market overall. 1. Crypto market capitalization reached an all-time high of approximately around 3 Trillion 2. As with all hype, what goes up must come down, it took a massive correction finally. 3. This created a major M pattern on the weekly/monthly time frames which is quite evident. In fact, there are 2 M patterns. 4. Once the M pattern completes, the market goes up so it started bouncing up. 5. It reached its one target exactly at 23.6 Fibonacci 6. It then took a correction again from there which was quite understandable and expected 7. Now this is simply consolidating in a range which has its mid-set at 1 Trillion market cap. This can keep going on for a long time and is a common behaviour after a huge move followed by a 23.6 correction. So what is next? 1. There will be a breakout from this range at some point. 2. But usually it first creates a major trap on one side and then goes to the other. 3. So wait for a move which will make nearly everyone think in one direction. This will create a major bias (general consensus) 🙂 4. Start thinking in the opposite direction unless you get a piece of solid evidence or confirmation to follow the general consensus. Remember a market can do anything. If BTC could go from 3500 to 67000 in a matter of weeks and if USOIL can go to zero then anything can happen in a market. 5. The upper breakout can take it to 1.6 market cap level 6. Lower breakout can take it to 500 billion market cap. Our bias: (Not advice or recommendation) 1. Wait for a general consensus to build up and go against it on confirmation 2. Downside is more likely at the moment but we will have to wait for further evidence. Please support this analysis by liking and sharing. 👍🙂 Rules: 1. Never trade too much 2. Never trade without a confirmation 3. Never rely on signals, do your own analysis and research too ✅ If you found this idea useful, hit the like button, subscribe and share it in other trading forums. ✅ Follow me for future ideas, trade setups, and updates on this analysis ✅ Don't hesitate to share your ideas, comments, opinions, and questions. Take care and trade well -Vik ____________________________________________________ 📌 DISCLAIMER The content of this analysis is subject to change at any time without notice and is provided for the sole purpose of education only. Not financial advice or signal. Please make your own independent investment decisions. ____________________________________________________
CRYPTOCAP:TOTAL
by vikinsa
MARKETS week ahead: May 14 – 20Last week in the news The US debt ceiling was in the focus of the markets and news during the previous week. A potential default of the US government to meet some of its obligations would have serious consequences on the US economy, and the rest of the world. At the same time, the US equities were closed lower on Friday, following weaker than expected consumer confidence data. The crypto market was also traded at lower grounds, with Bitcoin ending the week at level of $26.8K, while Ether is holding above $1.8K. During the previous week, the G-7 meeting of most developed countries in the world was held. Aside from globally elevated inflation, one of the main topics was the potential of the US to default on some of its obligations in the coming period, in case that debt ceiling is not increased. The US Treasury Secretary, Janet Yellen, noted in her statement, that we are just weeks away from the first US-debt default, but she is hopeful that some solution for this situation would eventually emerge. At the same time, the White House and congressional leaders meeting, scheduled for Friday, was postponed. The main topic of this meeting should have been the debt ceiling. The Congressional Budget Office said on Friday that increased revenues from taxes collected in June would most probably help the US Government not to default in June, but they were unable to say the same for July. The US equity markets fell on Friday, after reporting weaker than expected consumer sentiment results. The University of Michigan's consumer sentiment fell to the level of 57.7, which is the lowest level of this indicator for the last six months. Adding to it the news about potential US debt default, it increased markets fears over forthcoming recession in the US. Binance, one of the largest crypto exchanges, announced that the company will cease operations in Canada, amid a “challenging” regulatory environment. The company tweeted that “new guidance related to stablecoins and investor limits” in Canada are not anymore “tenable” for this exchanger. The main issue with these new regulations is that purchase or deposits in stablecoins would require prior CSA`s approval, which requires taught due-diligence checks. The Ethereum network experienced an outage on Thursday, when transactions could not be confirmed for 25 minutes. There was a high risk for users of the chain to be altered due to this malfunction. Although developers are investigating the cause of this outage, still, no official information has been provided. Coindesk is reporting that House Democrats are considering issuing a bill on stablecoins, which seems to differ from the one that Republicans are in process of drafting. The Democrats are of the opinion that the Federal Reserve should have a power of veto when it comes to the registration of stablecoins and that special attention should be paid on protection of consumers. Crypto market cap The crypto market continued with a correction trend during the previous week. Although there is a lot of doubt among investors over potential US debt default and decreased consumer sentiment, which supports fears over potential recession in the coming period, still, at this moment there is actually nothing which could support the crypto market. The pull-out of bank deposits decreased during the last few weeks, and obviously, at this moment, these deposits are not ending in the crypto market. Charts were pointing to this correction, so the market needs to exhaust itself, before it starts a new round to the upside. Total crypto market capitalization decreased by 6% or FWB:70B during the previous week. Around 80% of this drop was led by the major coins on the crypto market. Total crypto market capitalization continues to hold modestly above $1 trillion. Daily trading volumes were also down, from $72B a two weeks before to $56B on daily basis during the previous week. This might be a positive indicator that the market is slowly drying the latest move to the downside. Total crypto market capitalization increase since the beginning of this year modestly dropped to 44%, where it has added a total $330B to the market cap. A drop in crypto market cap during the previous week was led by major coins on the market. BTC, ETH and BNB participate with 80% in a market cap drop of $70B. BTC, the major coin lost around 7.5% in market cap, erasing $42B from its value. ETH followed with a lower drop of 4% on a weekly basis or more than $9B. BNB also took a downside, with a drop in value of 4.5% or $2.3B. XRP was another coin with a drop in value above $1B, where it has lost $1.7B or 7.5% on a weekly basis. It was interesting that Polygon was also among coins with a large drop in value in nominal terms, since it lost $1.2B or 13.6% in the market cap. This is not usually seen in nominal terms. Coins with some of the largest drops in relative terms were OMG Network, with a drop in value of 28.5% w/w, Filecoin was down by 15%, EOS decreased its value by 12% and DASH by almost 12%. The only coin which gained during the week was Tether, which increased value of circulating coins by 0.9%. There has been also developments with increased number of circulating coins of Ether by 2.1% w/w. Crypto futures market Developments from the spot market were also reflected on the prices of the crypto futures. BTC short term futures were closed at Friday`s trading at prices which were lower by 11% from the end of the previous week. At the same time, lower drop was with longer-term futures, which were down by more than 7% w/w. The price of futures maturing in December this year was closed at FWB:27K , while those maturing in December next year were closed at $28.3K. ETH short term futures were trading by almost 11% lower from the week before, while longer ones were down by almost 5% w/w. ETH futures maturing in December 2023 were closed on Friday at price of $1.807, while those maturing a year later were closed at price of $1.858.
CRYPTOCAP:TOTAL
by XBTFX
1
CRYPTO week ahead: May 7 – 13Last week in the news Previous week was marked with both FED`s and ECB`s further increase of interest rates, while fears of potential failures of the US banks continued to be the main topic among analysts and investors. The US equity market continues to be supported by posted earnings figures. Bitcoin is ending the week struggling below FWB:29K , while Ether manages to hold the $1.9K level. FED increased for one more time its benchmark interest rates by another 25 bps, bringing the funds rate to the level of 5% - 5.25%. Such a move was expected by markets. In a speech after the FOMC meeting, Fed Chair Powell gave several points on how currently FED officials are perceiving the state of the US economy. The FED still perceives the labor market as quite strong, and it points that potential recession in the coming period might be avoided. When it comes to the question of potential halt of further raise of interest rates, Powell noted that further rate hikes will depend on the developments in the US economy, and the question will be addressed on each FOMC meeting, but any kind of a general decision on a pause on hikes has not been made on the meeting. At the same time, he noted that it is too soon to discuss any potential rate cut. During the previous week, JPMorgan acquired troubled First Republic bank. This acquisition was also commented by the Fed Chair Powell, on a press conference, when he called it an “exception” as from the policy point of view, it is not good when “largest banks doing big acquisitions”. As news is reporting, there is again a new push of a meme-mania on the market. It is supported by the creation of a new token, a SpongeBob (SPONGE). The new coin was released on Thursday and during the first few days of trading, its price has increased by an incredible 600%. At the same time, Pepecoin (PEPE) surged by more than 120% within the last 24 hours. Analysts are noting that this newly emerged meme-mania is strongly supporting the price of ETH, however, less coins are in circulation since more ETH`s is burned in order to support memes. After posting better than estimated earnings for the first quarter, shares of the Coinbase (COIN) surged by 17%. Analysts perceive it as a positive sign that the crypto is gaining back its ground, however, they are noting challenges coming from an uncertain regulatory environment when the crypto industry is in question. Coindesk is reporting that French BNP Paribas (BNP) will enable their clients in China functionality to link their digital Yuan, or e-CNY, wallets to their bank accounts held with this bank. The connection will be established through the Bank of China`s system, which is one of the eight banks authorized for this type of operation. Crypto market cap Major news during the previous week was FED`s further rate increase by 25 bps. Fed Chair Powell held a conference after the FOMC meeting, revealing a few important topics, which are currently preoccupying the market. First note is related to market expectations that the Fed will start to cut interest rates in order to avoid further banking collapses in the US. Powell noted that such a move should not be expected in the coming period. Secondly, he noted that macroeconomic conditions will be reviewed at every FOMC meeting, based on which the decision will be made whether the Fed will halt further interest rate increases. His rhetoric is signaling to the market that there is still some potential for further hikes, but at least, there is some indication that the Fed might be peaking with rates soon. Since their target is inflation of 2%, it should not be expected that rate hikes will be stopped just for the sake of the banking industry. JPMorgan acquired last week troubling First Republic bank, however, the list of US banks with problems is large, so more acquisitions are quite possible in the future. Total crypto market capitalization was modestly decreased on a weekly basis, by 1%, where a total $9B was wiped from the market. Coins were traded in a mixed manner. Daily trading volumes remained flat during the week, around $72B on a daily basis. Total crypto market capitalization increase since the beginning of this year currently stands at 53%, where it has added a total $400B to the market cap. Total crypto market capitalization decreased by $9B during the week, out of which $4.8B was driven by decrease in value of BTC on a weekly basis. BTC modestly dropped by 0.85% w/w. ETH remained relatively flat, but in a positive territory, supported by the new meme-mania on the market. XRP had a modest drop in value, of some 3.7%, where the coin lost less than $1B in total cap. In a relative terms, some of coins with the highest drop in price during the week were DASH with a drop of 10.5% w/w, NEO was down by 6.6%, Bitcoin Gold lost around 8% and Filecoin with a drop in value of 6.5%. On the other side, coins which managed to end the week in green were Tether, with an increase in cap by 0.7%, Monero added also 0.7% in value to its market cap and Tron, which surged by almost 5% w/w. Changes in circulating coins continue to be higher than they usually are. Solana, Polkadot and Filecoin increased their circulating coins by 0.3% each compared to the previous week, while Algorand had a decrease of 0.2%, and Tron dropped by 0.1%. Crypto futures market The crypto futures ended the Friday trading in a mixed manner. While short term futures were up by 1% for BTC and more than 5% for ETH, still long-term futures were traded with a drop in prices from the week before. BTC long term futures were down by some 3% on average, where futures with maturities in December this year ended the week at price $29.685. Futures ending in December next year are still holding above $30K level, ending the week at a price of $30.560. ETH futures ending in December this year were traded by 2.56% lower from the week before, and finished the week at level of $1.900. Futures maturing in December next year were down by 2.35% on a weekly basis, ending the week at price $1.954. ETH`s futures curve continues to be inverted, revealing market expectations for the price of this coin in the coming period.
CRYPTOCAP:TOTAL
by XBTFX
CRYPTO week ahead: April 30 – May 6Last week in the news Another week marked with potential failure of the banks in the US. The First Republic Bank was for one more time in the news as its share price significantly dropped in value during the previous week. For one more time, the crypto market has been supported by insecurity of depositors in the banking sector. On other hand, equities gained on earnings reports. Bitcoin is finishing the week modestly below $30K, Ether is holding above $1.9K. Situation with the First Republic Bank is not improving. The bank went into problems during the same period when Silicon Valley Bank and Signature Bank collapsed, but managed to survive the first wave of troubles in the banking sector. Management of the bank managed to buy some time to restructure the bank and put it into recovery. However, as per news from the previous week, it seems that this will not be the case. Share price of the bank dropped by 43% on Friday, as the news spread that the Federal Deposit Insurance Corporation would most probably have to step in. Since the beginning of this year, shares of the bank dropped by 97%. This news once again supported the crypto market, bringing BTC back to $30K level. Crypto industry requires clear guidance from regulators, however, SEC Chair Gansler noted that current regulation is sufficient and that the industry needs to comply with it. Coinbase (COIN) was the first company to fight for this guidance through court. Namely, the company used U.S. Circuit Court to pressure SEC to answer with simple “yes or no“ to the company`s petition from July last year, when they officially asked SEC to “propose and adopt rules to govern the regulation of securities that are offered and traded via digitally native methods”. The SEC did not make any comments on Coinbase's petition. The Blockchain Association CEO, Kristin Smith, commented on the current state of developments as “absolute war” between crypto industry and US regulators. Regardless of regulators' view, the mainstream industries are continuing to incorporate crypto currencies and wallets into their business. Mastercard announced the launch of verification standards for cross-border transactions, called Mastercard Crypto Credential. These set of credentials will allow compliance with the Financial Action Task Force`s travel rules. At the same time, PayPal announced that the company will enable on-chain transfers from Venmo wallets, from May this year. Ripple announced its XRP Markets Report, noting that the company sold HKEX:361 million worth of XRP tokens in Q1 this year, which is an increase from HKEX:226 million in Q4 2022. Ripple is developing its international payment network which is based on XRP token, with the aim to allow international payments excluding correspondent banking. During the forthcoming week, both ECB and FED` rate decisions are scheduled, which promise some increased market volatility. Crypto market cap Banking crisis continued in the US, with First Republic Bank currently in the spotlight. The latest news published by CNBC on Saturday is that a few big banks, including JPMorgan and Bank of America are asked to place bids for First Republic Bank. Such news is increasing the insecurity of bank depositors and, at the same time, positively impacting the price of major coins. Depositors are seeking a safer place for their funds, transferring part of their funds into crypto coins, especially Bitcoin. Similar situation we have already seen with the collapse of SVB and Signature bank, which drove the price of BTC toward the $30K. Total crypto market capitalization was increased during the previous week by 3%, adding FWB:33B in value of the market. This drive was mostly influenced by Bitcoin, which added $30B to the cap on a solo basis. At the same time, daily trading volumes were modestly decreased to the level of $52B on a daily basis, from $71B achieved during the week before. Total crypto market capitalization increase since the beginning of this year currently stands at 54%, where it has added a total $409B to the market cap. Due to the banking crisis, BTC was the absolute winner of the previous week. The coin managed to gain $30B in value, increasing its market cap by 5.7%. BTC was followed by Ether, which managed to add $3B to its market cap, increasing it by 1.3% w/w. Other coins were traded in a mixed manner. BNB was on a losing side, decreasing its cap by $1B or 2%. Coins with good performance in relative terms were Litecoin, with an increase in cap by almost 4%, Solana gained 6%, Filecoin 3% and ZCash 3.3%. Few coins lost significantly in value during the week like OMG Network with a drop in value of 12% and Algorand who lost 8.3% in value. As for coins in circulation, there has been a relatively larger number of small changes, among which Tether continued to gain with 0.3% w/w, while Filecoin, Polygon and Polkadot gained 0.3% each in total circulating coins. Crypto futures market The price of Bitcoin continues to be supported both on the spot market and on the futures market. Banking crisis pushed the price of the BTC futures to the upside during the previous week, where short term futures were traded by almost 8% higher from the end of the week before, while futures with longer maturity closed the week by some 6% higher. Futures maturing in December 2023 were traded at price $30.5K, while those maturing in December next year ended the week at price of $31.3K. Market continues to positively perceive future prospectus of BTC price. At the same time, ETH futures were traded in a mixed mode, and without any significant change in price from the week before. Short term futures were up around 3%. Positive developments were with futures maturing in December this year, where the price managed to hold above $1.9K. Price for the futures maturing in December next year remained almost unchanged, but on a positive side is that it still holds above $2K.
CRYPTOCAP:TOTAL
by XBTFX
CRYPTO week ahead: April 23 – 29Last week in the news A relatively calm week on financial markets, but not for the crypto market, as it went into short term retracement during the previous week. Major negative sentiment is coming from news related to regulation of the crypto businesses both in the US and EU. Bitcoin is ending the week above FWB:27K , while Ether is still holding above $1.8K. The most important news during the previous week was final adoption of the Markets in Crypto Assets regulation, or MiCA, by the European Parliament. It represents one of the first comprehensive regulations covering crypto business in the world. The regulation requires crypto businesses to be officially registered in one of the EU member states. Companies are required to comply with risk management rules, and need to have adequate governing processes in place in order to avoid any possibility of another FTX-style collapse of the company. Rules related to stablecoins, require companies to maintain enough cash reserves in order to meet demand in times of high volatility. Although, this represents significant improvement when it comes to regulation of the crypto industry, still, this law is not covering specific cases like crypto-staking or lending. Whether US regulators will follow the EU example is to be seen. Certainly, the majority of the crypto companies in the US are calling for clear rules in order to conduct business outside of the current gray zone. During the time of the MiCA adoption, there has been a hearing in Washington, where SEC Chair Gary Gensler was under fire when it came to clarity of the crypto rules applicable in the US. However, he dismissed all accusations, noting that there is a question whether current crypto businesses want to comply with current rules, while for any sort of additional rules, this industry would have to wait for some other time. Based on his statements, it doesn’t seem that any sort of new digital-asset regulation will see the light of the day in the near future. On the other hand, several large crypto exchangers announced that they are considering moving their business overseas in order to avoid scrutiny from the SEC. There has also been news over the regulation of the crypto industry from the Bank of England. Namely, it has been noted by the CB officials on the possibility for the UK to adopt a similar law as in the EU for the digital-assets industry within next 18 months. At the same time, they commented on the possibility to put a cap on stable coins in order to avoid financial risks which these coins might have on the UK financial system, especially banking system. Recession fears are again topic number one among economists in the US. Namely, latest data show that there is a significant drop in lending activities, which would most certainly impact economic slowdown in the coming period. As a reminder, this was a prediction of several prominent economists from the beginning of this year, that potential for economic slowdown will most certainly hit the market during the second half of this year, based on which, some of them are expecting for FED to even cut interest rates. Crypto market cap There has not been much significant news on the macro data during the previous week, which is the main reason why equity markets remained relatively calm. Still, there has been a lot of news when it comes to regulation of the digital-asset businesses, both in the EU and US, which imposed a negative market reaction and short reversal to the down side. On one side, the EU Parliament adopted a so-called MiCA regulation, imposing a strict rule for the crypto business within 27 EU member states, while on the other hand, SEC Chair Gansler noted in a testimony his expectations for all crypto businesses in the US to comply with current Securities Law in the US, and that it should not be expected any kind of new regulation which would specifically address digital asset businesses. Although EU regulation was generally perceived as a positive among market practitioners, still, the market was disappointed by the standing point of SEC Chair Gensler, as it means that crypto firms in the US might face continuous scrutiny from the US regulator. This means probably more penalties and difficulties to maintain business in the US, in which sense, several large players on the US market already expressed the possibility of moving their businesses overseas. Total crypto market capitalization dropped by 8% during the previous week, losing some $104B in value. Daily trading volumes remained stable during the week, moving around $71B on a daily basis. Total crypto market capitalization increase since the beginning of this year currently stands at 50%, where it has added a total $376B to the market cap. All coins ended the week in red, except stablecoins. Major coins were the ones which were dragging down total crypto market cap in nominal terms. Bitcoin lost $54B in value, or more than 9%. BTC was naturally followed by ETH, whose drop in value was $27B or 10.6%. XRP was another coin with a significant drop of $2.7B in value, losing more than 10% on a weekly basis. Cardano also lost $2B in its cap, which represents a drop of 12.6%. Interestingly, BNB was not in a group of significant losers, as it manages to hold its price steady, due to previous negative news surrounding Binance exchanger. During the week the coin lost only 1.1% and around $0.6B in value. In a relative term, some of the highest losers were DASH who lost around 18% in the market cap, Polygon was down by 13%, same as Filecoin. Tether continues to gain coins in circulation, adding 0.6% during the previous week. Filecoin traditionally continues with an increase of circulating coins, adding 0.5% on a weekly basis, while during the previous week Algorand also increased its coins by 0.3%. Crypto futures market The crypto futures market reacted to spot market reversals with decrease of future prices. On a positive side is that prices for longer term futures dropped less than the short-term ones. BTC short term futures ended the Friday trading with a drop of more than 10%. On the other side, futures with maturity in December this year were down by 7.5%, same as futures maturing in December next year. December 2023 was lastly traded modestly below $30K. ETH short term futures were traded down by around 13%, while longer term ones dropped by more than 7% and 4% as of the end of the week. Futures maturing in December 2023 ended the week at price $1.9K, while those maturing in December next year were closed at $2K.
CRYPTOCAP:TOTAL
by XBTFX
1
CRYPTO week ahead: April 17 – 23Last week in the news Inflation figures in the US are showing a decreasing trend, however, FED is still not sure whether it is time to halt further rate increases. These were the major news during the previous week which were driving the market sentiment. Both equity and crypto markets finished the week in a green zone. Bitcoin reached levels above $30K, while Ether was strongly supported by the Shanghai hard fork, ending the week above psychological $2K. The US inflation data published on Wednesday, show a further slowdown in prices in the US. As per data released, the consumer price index reached 5% y/y in March, which is a drop from 6% y/y in February this year. The drop in inflation is mainly influenced by the drop in energy and food prices, which were the main drivers of increased prices during the previous period. This was clearly a sign for the markets that the easing in FED's monetary tightening might soon come to an end. At the same time, FED is still not in the same line with markers. Namely, as per published Minutes of the FOMC meeting, it seems that the FOMC members are of opinion of potential negative repercussions of the recently fallen banks on the economy, which might trigger a mild recession during the second half of this year with potential for recovery within the next two years. Same documents revealed that FED is expecting for the US economy to slow down to 0.4% during the course of this year. A long awaited Ethereum`s Shanghai hard fork has been successfully implemented during the previous week. One of the most important features of this upgrade was to allow holders of the staked ETH free use of their coins. This upgrade strongly supported the price of Ethereum`s token, which reached psychological level of $2K. Although many crypto professionals were noting the possibility of a negative impact to ETH`s price, if the majority of holders of staked ETH start selling their coins, still, it did not happen. Based on the announcement from Twitter, this company will soon allow its users to trade stocks, cryptocurrencies and other assets from their Twitter accounts. This comes as an exclusive deal between Twitter and eToro exchanger. Dogecoin gained on this news almost 6% in value, following the still strange market relationship between Musk and DOGE. The decentralized finance exchanger Uniswap announced that the company launched a wallet which can be used on mobile phones. As per statement, this application will be used to promote DeFi`s and allow its users to buy cryptos at a flat rate of 2.55%. Crypto market cap Positive market sentiment has been supported during the previous week by weakening of US inflation data. As it has been officially published, inflation in March in the US was 5% y/y, and down from 6% y/y in February. This brought some confidence among market participants on the possibility that the FED will stop with further increase of interest rates in the coming period. Still, on the other side, released FOMC minutes are showing that FED officials are concerned over potential recession during the second half of this year, as a result of the recent banking crisis. Nevertheless, at this moment economic data remain mixed, as well as next FED monetary moves, but the market has waited for so long to get in a positive mood and bullish trend, that they are currently dismissing mixed signals. Total crypto market capitalization has increased during the previous week by 8% w/w, adding $90B to its value. BTC and ETH were the ones to gain the most in nominal figures. Daily trading volumes returned to the pre-holiday levels, trading around $79B on a daily basis. Total crypto market capitalization increase from the beginning of this year currently stands at 63% , where it has added a total $480B to the market cap. Major coins on the market were the ones to gain the most in nominal terms during the previous week. BTC is still the most traded coin, which gained more than 8% during the week, adding $47B to its market cap. ETH continues to gain on a Shanghai upgrade, surging by 12.5% within a single week, increasing its market cap by $28B. BNB had relatively solid week, in which the coin increased its cap by $2.7B or 5.5%, and was followed by Cardano who surged by $2.3B or 17.7%. As for other altcoins, only a few of them lost in value during the previous week.Several coins with a good performance during the week were Solana, with a surge in market cap of 20.8%, Zcash increased its cap by 11%, while Maker added more than 13% to its cap. It was one of the rare weeks, where there has been a lot of changes in circulating coins of crypto currencies. Tether continued to gain further, adding 0.92% coins w/w. At the same time BNB decreased its circulating coins by 1.3%, which is rare to see on the market. Filecoin continues to increase its coins in circulation, adding 0.9% during the week. Crypto futures market Positive market sentiment from the spot market was also reflected in the crypto futures market. BTC short term futures were traded around 9% higher from the week before. Long term futures were up by more than 8% w/w. Last trading price for futures maturing in December this year was $31.120, while December next year was closed at $32.180. The prices continue to reflect positive market sentiment for the future price developments for BTC. ETH short term futures ended the trading week around 13% higher from the week before, while long term futures were up by more than 7% w/w. Regardless of current positive market sentiment, still, the ETH futures curve took inverted shape for one more time. Namely, short term ETH futures have higher value than the longer ones. On a positive side it is that long term futures are still holding above the psychological level of $2K. ETH futures maturing in December this year ended the week at price $2.049, while those maturing in December next year were traded at price $2.099.
CRYPTOCAP:TOTAL
by XBTFX
ETHUSDT - 3 price points that it will go to. OKX:ETHUSDT is at a daily resistance level Move 1: Price rejects resistance, moves down to 1560 to retest support zone Move 2: Price rejects resistance, moves down to 1769 to retest minor support before bouncing back up. Targeted TP at 2160 Move 3: Price breaks resistance to 1990 (Week resistance), retrace to 1933 before making its way up to final TP at 2160/ Entry Tf: 1 hour Entry style: Breakout with confirmation, or Breakout during volume period, or Breakout with news Enter after price moves. Don't predict.
by lesnermj
CRYPTO week ahead: April 10 – 16Last week in the news The markets closed higher on Friday in a wake of Easter holiday and US latest job market figures. At the same time, the crypto market slowed down, after strong resistance at levels from the last two weeks. Bitcoin is ending the week testing $28K short term resistance, Ether was supported by Shepella upgrade, which pushed the price above $1.8K. The important data was released just before the Easter holiday started on Friday. The US non-farm payrolls grew by 236K in March, which was in line with market expectations of 238K. This is also an decrease from 326K in February. At the same time, the unemployment rate fell to 3.5% in March, from 3.6% during the previous month, which was not in line with the figure which the market was anticipating, while payrolls were increased by 0.3% in average hourly earnings, which was the lowest increase within two last years. Latest figures were perceived positively by economists, as they show that the year-long FED`s fight with inflation is finally starting to reflect in real figures. This is also pointing to the possibility of FED`s further slowdown in monetary tightening, and potential halt in raising interest rates by the end of this year. The Consumer Price Index will be released on Wednesday next week, which will add to the picture about the current state of the economy and FED`s measures. During this week Ether price was strongly supported by the news that the major upgrade called “Shepella '' will be released. The aim of this upgrade is to allow for the owners of the staked coins to withdraw them, without using centralized exchanges or DeFi protocols. After the Merge fork released in September last year, this is perceived as another important upgrade of the Ethereum network, perceived highly positively by the market. The major upgrade is scheduled to occur on April 12th, called Shanghai fork, which also might imply higher volatility of ETH`s price. Elon Musk`s and Dogecoin`s “love story” continues even after Musk`s purchase of Twitter. Namely, the price of DOGE surged by almost 30% after Elon Musk replaced the logo of the company with an image of a shiba-inu. This change was not visible for all Twitter users. Although Twitter did not comment on this short change of logo, still the analysts are commenting on the possibility that it comes in response to an ongoing lawsuit of federal agencies in the US who are accusing Musk for manipulation of DOGE price. The latest issues in the banking industry strongly supported crypto currencies, and brought stablecoins into stoplight. The USDT, largest stablecoin pegged to the US dollar, reached a market capitalization of HKEX:80 billion, surging 20% within a single week. Just as a reminder, the highest USDT capitalization was FWB:83B right before the crypto winter. India is another country which is currently in a testing phase of its central bank digital currency, or CBDC. The pilot program, which started in December, reached 100K users as of the end of March. India`s central bankers targeting 500K users in July. Crypto market cap Although both EU and US markets were closed higher on Friday, as fears of banking contingencies slow down and in the wake of Easter holiday, still, the crypto market was traded relatively flat during the previous week. Posted job figures for the US on Friday gave some confidence to investors that FED`s potential slow down with further increase of interest rates might be just around the corner. At the same time, it is evident that correlation between equity and the crypto markets are at minimum. The crypto market is slowing down, after an excellent start of the year, which is evident on charts and prices of the crypto assets. Total crypto market capitalisation remained relatively flat compared to the week before, losing some $5B on a weekly basis. Major coins on the market were also traded in a mixed mode. Daily trading volumes dropped significantly during the week, to FWB:41B on a daily basis, from $72B a week before. This could be a result of forthcoming holiday weekend, and not general trend on the crypto market. Total crypto market capitalization increase from the beginning of this year remained at 52% , where it has added a total $390B to the market cap. It was a relatively mixed week on the crypto market, with evident slowdown in daily trading volumes. Ether was certainly a star of the week, considering that its price was strongly supported by the so-called Shepella upgrade of Ethereum network. Ether`s market capitalization was increased by more than 2% on a weekly basis, which added almost $5B to its value. Bitcoin slowed down, losing 1.4% as of the weekend, which is a drop of almost $8B on a weekly basis. DOGE was one more time supported by Elon Musk, so the coin ended the week with a gain of 9% w/w or $1B in market cap. Other altcoins were traded more or less flat compared to the week before. As for coins in circulation, it was a good week for Tether, whose circulating coins were up by 0.6% w/w, but reaching a significant milestone, as it managed to move above $80B in market cap for one more time in the history of this coin. Crypto futures market In line with spot market movements, the crypto futures market had a mixed trading week. BTC short term futures ended the week down by more than 2%, while longer term futures were relatively flat compared to the week before. There has not been much changes in levels of futures maturing as of the end of this year, which were closed on Friday at the price of $28.745, and those maturing in December next year, which were traded at price $29.725. ETH futures were traded higher compared to the end of the previous week, supported by the news on successful upgrade of Ethereum network. In this sense, short term futures were traded higher by some 1.7% on average, while longer term futures ended the previous week 5% higher. It is positive that both maturities in December this year and next year closed the week above $1.9K level.
CRYPTOCAP:TOTAL
by XBTFX
CRYPTO week ahead: April 3 – 9Last week in the news Relatively mixed week on financial markets. Friday was closed higher on both EU and US markets, as fears on banking contingencies eased. The crypto market continues to be supported by the deposits outflow from the banking industry to more secure assets, including the crypto market. Bitcoin is testing higher grounds above $28K, while Ether is struggling to hold $1.8K. It seems that the inflation in the US continues to slow down. Previous week a personal consumption expenditures price raised 0.3% m/m, which was below $0.4% market estimate. Weaker figure came after the ease in oil prices, which put some relief on consumer prices. The PCE indicator is one of the favorites for FED when it comes to their inflation prediction, which put investors into a positive mood this year, assuming that quantitative tightening might soon come to an end. At the same time, the Euro zone inflation for March has been published. Although there has been a drop in headline inflation to 6.9% in March, from 8.5% in February, supported by the drop in energy prices, still, the core inflation rose to 5.7% y/y from 5.6% in February, supported by increase in retail prices. Binance exchanger was once again the spotlight of news, as the Commodity Futures and Trading Commission (CFTC) pressed charges against exchanger, noting violation of several provisions on the commodities law, whose aim is prevention and detection of money laundering and terrorism financing. The negative news was immediately reflected in the price of BNB, but also in the share prices of tech companies with main operations on the crypto market, like Coinbase and MicroStrategy. XRP continues to be positively supported, as leading people of Ripple are more convinced that they will win the battle with the SEC, during this year. In an interview with CNBC, Monica Long, president of Ripple noted that she is “very hopeful” about resolution of the SEC`s allegations. Cardano`s EVM company Milkomeda announced a new upgrade of the Cardano`s network, through which, all users of the Cardano network will be able to access smart contracts on Ethereum Virtual Machine through ADA wallets. This will be the next step for Milkomeda, as they already support connections between Caradano and Algorand networks. Visa is expanding the use of the Bitcoin rewards app Fold. As it has been announced, the app Fold will now be available in North America, Europe, Latin America and the Caribbean through prepaid debit card products. Visa is continuing to support its partnership with Bitcoin, as demand for the crypto currencies is rising. Crypto market cap Markets are digesting all news that hit the banking industry recently, where some optimism was back on the markets. The situation calmed down as there has not been any new news about potential contingencies and when the central bankers and government figures were trying to calm down the population ensuring them that the banking sector is stable and solvent. Still, deposit outflows from traditional banks are evident. People are still looking for a safe place for their deposits, but currently it comes with a slower pace of outflow from the previous period. Total crypto market capitalization remained relatively flat on a weekly basis. Coins were traded in a relatively mixed mode, with Bitcoin still dominating the crypto market. Total crypto market cap was increased by 2% compared to the end of a previous week, bringing modest $26B to the crypto market cap. Daily trading volumes remained relatively flat, still moving around $72B on a daily basis, for a second week in a row. Total crypto market capitalization increase from the beginning of this year modestly moved to 52% , where it has added total $395B to the market cap. For a second week in a row, the crypto market was traded in a mixed mode, but Bitcoin continues to dominate the market and a drive of total crypto market capitalisation to the upside. During the previous week, BTC added $17.4B to its market cap, which is an increase of 3.2% on a weekly basis. At the same time Bitcoin Cash and Bitcoin Gold lost in value, when their total cap dropped by 1.6% and 3.8% respectively. The second largest coin, ETH, gained 2.9% w/w, but at the same time, its coins in circulation were down by 1.6% w/w, which is rare to see on the market. BNB was hit by the negative news around Binance exchanger, so the coin lost some 2.6% in value, decreasing its market cap by $1.3B. Among other altcoins, OMG Network was a huge surprise with a drop in market cap by 16% within a single week. On the opposite side, Uniswap had an excellent week, with an increase in the market cap of almost 30% and also by increasing its circulating coins by 22% w/w. XRP continues to gain on positive news about potential resolution of the SEC dispute, where the coin managed to gain additional $3B in value, which is a weekly increase of more than 12%. Crypto futures market The crypto futures market had a relatively calm week, in line with spot market developments. Short term futures for BTC were traded higher by more than 2% compared to the week before, while ETH futures were up by more than 3%. At the same time, longer term futures slowed down, during the previous week, ending the week at prices lower from the week before. BTC`s futures maturing in December this year were traded lower by 1.6%, same as futures with maturity in December next year. December 2024 ended the week below $30K, at a price of $29.690. Similar situation was for ETH long term futures, where prices dropped by more than 2%, with December 2024 dropping below $1.9K level, and ending the week at price $1.860.
CRYPTOCAP:TOTAL
by XBTFX
Total is pressing up, 1.5T could be nextAfter a 2-month consolidation of around 750 in November and December last year, Total started to rise at the beginning of the year and in mid-February passed above the 1T important zone. A correction followed, but the bulls took control again once it dropped again under 1T, putting in a higher low on our chart. For 3 weeks now the price is consolidating just under important horizontal resistance and is looking like bulls are waiting for a trigger to break. In the case of a break, this would be of great importance, confirming a very large inverted H&S pattern, started in June 2022. The measured target for the pattern is around 1.5T, a zone that is very nicely aligned with another important horizontal level. As long as the price is above the 1.05-1.1 zone I'm bullish
CRYPTOCAP:TOTALLong
by Mihai_Iacob
12
CRYPTO week ahead: March 27 – April 2Last week in the news Markets were digesting all events from the previous period during the previous week. The fear about another banking crisis is still in the air. At the same time FED increased interest rates for another 25 bps, despite some opinions that it will further negatively affect the banking sector. The EU equities market was closed in red on Friday, amid negative news surrounding German Deutsche bank, while US equities remained relatively flat compared to the week before. The crypto market continues with gains, but at the lower pace from the week before. Bitcoin is finishing the week struggling to hold $28K, while Ether holds a $1.750 resistance line. The minute we thought that the dust over the collapsing banks was over, the end of the week brought another news related to the largest German Deutsche bank. The issue is that nobody actually knows what is going on with the bank, but the panic in the news started the moment when spreads on credit default swaps for this bank started to widen as of the end of the previous week. After that, a sale of bank shares started, so the price slid by 14%. The bank did not comment on the latest developments, however both Olaf Scholz, a German Chancellor and Christine Lagarde, a President of ECB, were giving statements, ensuring that there is no any sort of issue with bank`s liquidity and solvency. Analysts are mentioning that the latest move on the market is triggered by contingency fears from recently collapsed Credit Suisse, but the issue here is, why exactly at this moment is such a correction occuring, as issues with the Swiss bank lasted for a few weeks? This is certainly one important news to watch closely, considering the size of the Deutsche bank and its significant global presence. It seems that the US passed its banking crisis, however, Treasury Secretary Janet Yellen told a House panel that additional actions could be taken by the US Treasury in case that American`s deposits are in some cases jeopardized. During the previous day, she also noted to the US senators about a plan to insure all U.S. bank deposits, however, it should not be done without an approval from Congress. During the previous week there has finally been some news from the crypto industry. Namely, leaders of the crypto industry told CNBC that they are not happy with the current gray zone of the regulation, which the SEC is trying to impose, but instead they would be much happier with a clear guidance from U.S. government and regulators. This comes after the SEC sent another notice to the Coinbase, noting that they are potentially violating the U.S. securities law. At the same time, the US indeed is lagging behind many other countries on setting up the clear rules for the crypto industry. While the US is still not sure whether it wants crypto or not, the president of El Salvador, Nayib Bukele, stated that he intends to propose the bill by which all taxes on both software and hardware innovations will be eliminated in the country. El Salvador's President Bukele was the first president of one country who introduced Bitcoin as a legal tender. The National Bank of the United Arab Emirates made an announcement over the finalization of the first phase in its currency strategy by mid-2024, by which the country will introduce its own digital currency – a digital Dirham. The first phase is expected to be finalized within the next 12 to 15 months. Crypto market cap Banks were in the spotlight of the market for the second week in a row. News are moving from the collapsed ones to the potential banks which might fall under difficulties due to contingencies of the fallen ones. Important event during the previous week was FED`s further increase of reference interest rates by another 25 bps. Market analysts speculated if the FED would continue with further rate increases, considering that strong shifts in interest rates are hurting banking liquidity and solvency capacities. The bottom line was that FED continued with its policy of breaking down the inflation, while Treasury Secretary Yellen, was the one responsible for calming down the market with wording over potential insurance of all American deposits. Of course, it is clear that the rhetoric is aimed to calm the markets, and most importantly, to stop deposits outflow from banks. Although the crypto market had an extremely good week two weeks ago, during the previous week the situation calmed a bit with the relatively mixed performance. Total crypto market capitalization remained relatively flat compared to the week before. Daily trading volumes were decreased to the levels of $72B on a daily basis, from $135B a week before. Total crypto market capitalization increase from the beginning of this year still holds at level of 49% , where it has added a total $369B to the market cap. Crypto coins were traded in a mixed mode during the previous week. Bitcoin is still leading the market to the upside, with weekly gain in the market cap of $4B or 0.7%. Ether finished the previous week in red, losing $4,5B in the market cap or 2%. BNB was another main coin which did not manage to sustain previously reached capitalization levels, due, its market cap was decreased by $2B or 4% within a week. XRP again had a good week, by adding $4B to its total capitalization and surging it by 21.6%. This move was supported by the news related to potential resolution of the SEC dispute. Tether continues to gain on market fears on banking contingencies, and gained during the week another $2.7B in market cap, increasing coins in circulation by 3.7%. In a relative terms OMG Network had a good week as the coin surged by 25% in a single week. Crypto futures market The crypto futures market ended the week in a more positive manner than the spot market. BTC short term futures were up around 3% on a weekly basis, while long term futures surged by additional 13% from the week before. Another positive development is that maturities in December 2024 reached level above $30K for the first time after a long time. December 2024 ended the week at price $30.175, while December this year was last traded at price of $29.185. ETH futures were traded higher but at a lower price increase from BTC futures. ETH short term maturities were only modestly up around 2%, and long term futures ended the week by 8% higher from the end of the week before. December 2024 was last traded at price of $1.904. Above noted price levels are important also from the aspect of market perception of the future developments. Namely, after a longer period of inverted futures curve, finally there is some indication that the market is positive about future price developments for both coins.
CRYPTOCAP:TOTAL
by XBTFX