In the past 24 hours, not much has changed. #Bitcoin continues its sideways movement while the on-chain indicators, as well as the news surrounding the crypto space, continue to show us promising signs🤟
Bitcoin reserve on known exchange addresses slightly increased. There were mainly small deposits from retail investors so nothing to worry about✅ #Bitcoin
Miners continue to accumulate at those levels as their outflows keep hovering below the yearly mean ✅ #Bitcoin
Funding rates are staying low as derivatives traders aren’t feeling too confident during those volatile times ✅ #Bitcoin
30-day MVRV measuring the average return of traders is currently sitting at -7,41%. Historically speaking, not a lot of traders were selling at a loss so this might signal that the bottom is in/near ✅ #Bitcoin
A few minutes ago, we also saw another huge spike in Coinbase Premium. Looks like someone was loading up their bags during the recent dip ✅ #Bitcoin
At the moment, no red flags can be observed. Even Kimchi Premium normalized and dropped below 10% ✅ #Bitcoin
Fear and Greed Index is currently at 65% ✅ #Bitcoin
In the past 24 hours, the liquid circulating supply of $LUNA decreased by over 1 million. It is currently sitting at 125,131,000 🔥
Axelar just posted that they will soon be integrating Anchor and other Terra protocols 😎
Yesterday, it was revealed that Vlad Tenev, the CEO and Co-founder of Robinhood (a financial app with over 13 million users) is one of the early investors in Terra (LUNA) 😱 Literally all the big names are backing it!
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📉