#Bitcoin continues to move sideways as most market participants are not really sure about the future price action and fear that we will see another drop🤔
With the on-chain data, it is hard to predict any short term price swings but what I can say for sure is that things look extremely bullish for the long term🚀 #Bitcoin
Yesterday, Venmo announced that more than 70 million customers can now buy, hold and sell crypto directly from their app🙏This places more pressure on Apple, Google, & Facebook to integrate bitcoin/crypto into their mobile applications! Bullish🚀
WeWork, a market leader in co-working space rentals, started accepting crypto for their services. More importantly, Coinbase has already committed to paying for WeWork services in Bitcoin while WeWork will hold this #Bitcoin on their balance sheet.
Yesterday, a large OTC deal was observed on-chain. Over 8,600 #BTC got deposited to Coinbase Pro and left the wallet just a few minutes after 👀
The #Bitcoin reserve on known exchange addresses stayed relatively flat ✅
Miner outflows slightly increased but are still near the yearly mean ✅ #Bitcoin
Funding rates as well as open interest are on the rise but still low compared to levels seen over the past month✅ #Bitcoin
Coinbase premium is still relatively high compared to the past data ✅
#BTC exchange inflows are still extremely low. This shows us that the coins are mainly moving to long-term holders. Another extremely bullish sign, just a matter of time before the supply shortage starts to kick in 😎
In the past 24 hours, the liquid circulating supply of $LUNA dropped by 2.5 million🔥 It is currently sitting at 126,438,000.
Anchor Protocol keeps growing at a rapid rate. Now over 37 million $LUNA is bounded in the protocol as collateral for the loans 🤑
An hour ago, the first Anchor integration was announced 👀
Basically, we are just getting started and there are only 35 million $LUNA tokens left in exchange wallets/for sale. The supply shortage is already here🔥
Last but not least, today's $BTC Giveaway winner is @UrosCecelic 🙌
Please send me a DM in order to claim the reward🚀
All other participants, make sure to participate again as I will be picking winners for the rest of the month! You can also win more than once😉
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Yesterday’s #PPI was a wake-up call for the bulls as wholesale prices rose by 0,7% in January. The numbers came out hotter than expected and the odds of a 50bps hike at the next #FOMC meeting jumped much higher👀
Now some analysts are already predicting that the FED funds rate will move above 6% or even 7%. Isn’t this something Diversitas was saying months ago?😉 #Macro
What about crypto? In the morning, everyone was calling for 30k #BTC 🚀 The FOMO in the market was real and we decided to completely exit, got hate for it but guess what, $BTC dumped just a few hours later📉
What is @Injective_ and why soon everyone will talk about it?👀
A thread🧵👇 $INJ
Injective Protocol is a decentralized, layer-2 platform built on #Ethereum that enables the creation of fast, low-cost, and highly scalable decentralized exchanges (DEXs), as well as other financial #dApps 👀
@Injective_ is also the first blockchain to offer auto-executing smart contracts, which empower faster, more innovative, and groundbreaking applications🚀
@astroport_fi is a #DEX build on #Terra🌖 It got extremely popular in its early days and was the main DEX during the collapse of $LUNA and $UST 📉 This is also when it proved itself as a DEX that can easily handle billions of trading volume💪
After the collapse of $LUNA and $UST, the team developed a new vision and continued to build👌 Before we cover their plans, let's first take a look at their team👀
Yesterday, we got a lot of important economic data and ever since the release, many analysts are wondering what happened. The data we good was far from expectations and is signaling that the #economy is very strong🤔
According to the reported data, #unemployment dropped to 3,4%, the lowest since 1969. Meanwhile, big corporations continue to lay off thousands of employees😂
Recent layoffs:
Amazon: 18,000
Google: 12,000
Sales Force: 8,000
IBM: 3,900
Goldman Sachs: 3,200
SAP: 2,800
3M: 2,500
Pay Pal: 2,000
Wayfair 1,750
Kraken: 1,200
Coinbase: 950
Spotify: 600
Hubspot: 500
And those are just some that we can think of😉 #layoffs2023
Yesterday, we saw a rally in the #stockmarket and this was expected. What was surprising is the fact that the #crypto market did not follow the move until major tech companies reported disappointing earnings results and we saw a drop📉
Yesterday proved to us that the market is becoming totally irrational. Bed Bath & Beyond failed to make interest payments on its bonds just weeks after the company warned it was considering filing for bankruptcy, yet the stock is surging higher🤦♂️ #BBBY
Same story when it comes to #EUR, just not so extreme📉🤦♂️
Meanwhile, #Bitcoin is holding quite well. We will need to wait for the stock market open to see how things play out before celebrating tho👀 In our view, a short-term bounce is likely and then we will be most probably making new lows📉