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Hey Legends! Here’s a recap of this week’s most significant news and insights. Dive in and enjoy the read! ️ For daily macro insights, and in-depth analyses, join our legends pro community. Get started here
Bitcoin ETFs recorded over $1 billion worth of outflows since August 27th.
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The number of Bitcoin UTXOs in profit has fallen to its lowest point this year. The last time this metric was this low, Bitcoin experienced a rally of over 270%.
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The Sell-Side Risk Ratio for $BTC has fallen into its lower range, indicating that most coins being transacted onchain are near their original acquisition price. This points to a gradual exhaustion of both profit-taking and loss-taking activities within the current price range.…
Tokenised money funds, which are rapidly gaining popularity, are beginning to present serious competition to stablecoins. Unlike stablecoins, returns on money market funds flow directly to investors, making them an attractive option for those seeking low-risk investments, with…
From a purely technical standpoint, Bitcoin's current price action is unfolding within a large descending broadening wedge, a pattern typically marked by stronger selling pressure than buying pressure. If the price breaks down further to retest the lower boundary of this channel,…
$BTC swing failure pattern retracement setup shared in our legends pro community yesterday.
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ICYMI: Yesterday @MonochromeAsset announced that it has has lodged an application to quote the Monochrome Ethereum ETF under the ticker $IETH on 🇦🇺 CBOE Australia, offering retail investors regulated access to Ethereum.
This chart is crucial to highlight this month: The Federal Funds Rate overlaid with Bitcoin's price chart––it shows that during periods of low interest rates, Bitcoin experienced its strongest upward momentum.
An interesting observation is that spikes in ETF inflows often signal a market top, while spikes in outflows tend to indicate a market bottom.
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There are two major corrective structures still unfolding for $BTC. Since March, the ongoing consolidation could be shaping into a larger WXY pattern. For bearish scenarios, the Y wave may extend downward to the $44K level, aligning with the common 1:1 extension target for a Y…
Gm Legends, Happy Friday!
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Do you have your eye on $VELO? Up 35% on the week Up 40% since August 28th low to the local-high Market Cap: ~$117M @Veloprotocol is a layer 1 blockchain network enabling digital credit transfers between businesses and individuals, paving the way to next gen DeFi…
$BTC short trade setup mentioned yesterday in our legends community and YouTube livestream. ️
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