ICYMI: 🇸🇻 While the world bleeds El Salvador bought more #Bitcoin yesterday 🙌
The Bitcoin Miner Balance reached the lowest level since April 2019.
At 1.8M BTC, miners now hold around 6k more coins than the all-time low in Bitcoin's modern history.
After 9 straight months of miner selling, this sell pressure has started to ease up.
Short-term holders moved more than 💵$5. 2B of #Bitcoin in a week.
In contrast, long-term holders largely held on to their BTC.
Of the $850 million in realized losses, only $600,000 came from long-term holders.
⚫ Stock market turmoil
— The US capital market lost more than $3 trillion in a single day, driven by the bursting of the AI bubble.
—$500 billion were lost overnight alone.
⚫ The Federal Reserve maintains current interest rates
— The Federal Reserve kept interest rates between 5.25% and 5.50%, which influenced market sentiment and liquidity.
— Without lowering rates, the market could take this as a bearish signal.
⚫ Mining reserves plummet amid ATH difficulty
– Bitcoin mining difficulty hit an all-time high, prompting miners to sell their reserves to offset costs.
– Bitcoin mining reserves are now extremely low since plummeting on July 15.
⚫ Kamala Harris' odds increase
— Crypto betting site Polymarket saw Harris' odds increase to 43% compared to Trump's 53%.
GAP around 58k already filed
BTC recently collapsed strongly, leaving a GAP around 62k5
The possibility of increasing fil GAP is 70-80%
Yesterday saw a record number of coins sold at a loss, comparable to the ban on mining in China and the collapse of the FTX exchange.
✊HODL
Global Liquidity breaking out now $106.47 trillion.
#Bitcoin clearly flushed my the manipulators to the Double Top target at $48000.
- They gave it their best but couldnt get past $49300
- Expect Bitcoin to chase the liquidity upward now.
The Bitcoin Fear & Greed Index reached the lowest level since July 2022, which was a few months away from the bear market bottom.
BTC 2020 vs BTC 2024
This is very reminiscent of the covid crash of March 2020 🧐
8/5 Bitcoin ETF Net Flow:$ -168.4 million
BlackRock $IBIT: $ 0 m
Grayscale $GBTC: $ -69.1 m
Grayscale mini $BTC: $ 21.8 m
Fidelity $FBTC: $ -58 m
Bitwise $BITB: $ 2.9 m
Ark $ARKB: $ -69 m
Invesco $BTCO: $ 0 m
Franklin $EZBC: $ 0 m
Valkyrie $BRRR: $ n/a
VanEck $HODL: $ 3 m
WisdomTree $BTCW: $ 0 m
🚨Fidelity Sells 1085 Bitcoin
Weak hands shaken out
Fear & Greed Index - Aug 06, 2024:
Today: 17 (Extreme Fear)
Yesterday: 26 (Fear)
Avg. 1W: 41 😕
Avg. 2W: 55 😁
Avg. 1M: 52 😁
Avg. 2M: 54 😁
Avg. 3M: 59 😁
Avg. 6M: 67 🤑
Avg. 1Y: 63 🤑
🔸 #Bitcoin
Price: $53,993
24h Low: $49,221
24h High: $58,164
MC Change: -$81.1B (-7.1%)
Dominance: 53.5%
24h: -7.2%
7d: -19.4%
14d: -20.0%
30d: -7.1%
60d: -23.8%
200d: 30.7%
1y: 85.8%
JUST IN: 🟠 BlackRock explains how Ethereum is no competition for #Bitcoin 👀
“Bitcoin is trying to be a global monetary alternative as a potential global payments system, ETH really isn’t trying to be that.”
- Robert Mitchnick, BlackRock Head of Digital Assets
https://video.nostr.build/0cd1a15e23da3d69fd4770aeba77088a07a71e6b2386dd80d5820e7c38ad264b.mp4
BREAKING: The #Bitcoin fear and greed index is now almost at "extreme fear" 👀
Buy and HODL #BTC ✊
🇺🇸Donald Trump: “Israel is going to be attacked by Iran tonight”
➡️During a live broadcast from Mar-a-Lago, the former president made this statement but assured that he had no secret information about the possible attack
MOST IMPORTANT BITCOIN UPDATE.
KEY BITCOIN LEVELS
I remember that in February #Bitcoin skyrocketed from 50k to 60k in days, unsustainable.
We completed it today.
NEW: #Bitcoin Implied Volatility Index Hit 3-Month High 👀
