🚨🚨 Update: Today just quick market view as no big changes happend since yesterday. We've started the year with extremely low volume, so also netflows no showing anything big.
Our hourly view shows a high whales ratio since the beginning of the new year.
In the first 2 days we have detected to relatively big positive netflows, indicating more inflows than outflows to exchanges and one negative netflow in the beginning of the year. However, the netflow is showing us more inflows from whales are arriving to exchanges. The last big
netflow happend yesterday at 2 am (UTC +1) with almost 1,700 #BTC.
Also option trades didn't really change. At least nothing useful to let us predict certain price levels for January. Some of option traders have started to buy options for EoY 2022, their trade range between
$40,000 - $150,000. So, as said, not useful. The recent last trades for the 28Jan2022 expiry shows a trade range between $40,000 - $46,000.
#Bitfinex walls almost didn't show any big changes either. They reinforced their upper wall at 48k and that's it. No new walls detected. They are spoofing the price in the current range between 46.8k - 47.8k. They wanted the price below 48k and it happend. It seems they feel
confident that no (unexpected) big moves will happen now. At the moment the market feels like its enjoying the sunday. 😜 As usual we need patience and wait. We know that can flip quick.
Since we have started a new year a total of 2,500 #BTC have leaved the exchanges. #Okex has received 1,250 #BTC at the same period of time, #Bitfinex has rised its reserve by 575 #BTC, while #Gemini has reduced its reserve by 1,275 #BTC and even #Binance by 1,950 #BTC since new
years eve. However, we need to keep in mind that we have still almost 50,000 #BTC since our last big inflows from end of december on #Binance, #Bitfinex and #Gemini.
At the moment they are using the EMA50 in hourly view to trap bulls. Even if they did as predicted yesterday, they formed a double top, it didn't play out as expected. They want to maintain that price range. I'm still more bearish than bullish. But tomorrow could start green.
$SPX looks like ready to retest its resistance for the next ATH. RSI hourly view shows enough space above to allow such a retest, but if it fails it will hopefully dump heading its support at 4,720. #BTC loves to follow $SPX dumps but its not that accurate when $SPX pumps. So, we
need to see what happens tomorrow.
$DXY looks very bearish atm. Maybe its just a bear trap and a deviation. Also here we need to see what happens tomorrow. I really don't have a clue today what could happen tomorrow.
So, I will stick to my plan. Patience is always key. 😉
Enjoy your sunday!
Please add these dates to your calender. These are very important and can have impact to the price action. 🙏🤝
We all remember the big announcement DOJ did just few days ago. We all were expecting a huge result, also because CZ has teasered a big FUD against Binance will happen soon
before. Something that could bring the crypto space in trouble. Instead they announced the arrest of someone nobody in the space knew before, Anatoly Legkodymov. The owner of Hydra Marketplace. Of what? Yes, right. Almost nobody knew him or his company before last tuesday night
before they arrested him in Miami.
The DOJ said about Hydra following:
“Bitzlato’s largest counterparty in cryptocurrency transactions was Hydra Market (Hydra), an anonymous, illicit online marketplace for narcotics, stolen financial information,
Binance already sent an announcement Exclusive: SWIFT payments network to cut access to crypto exchanges | Asia Markets asiamarkets.com/swift-network-…
What is driving the current rally? Spot or Derivatives?. Well, let us check. Derivative went up like hell while the price pushed up. As mentioned many times, you can't drive the spot price with futures.
It seems DOJ has a defined its next target. Even I don't agree with their approach. Because we know it's not Binance only. We remember the money laudering accusations related to FTX. What happened? Nichts, Nada. Nothing. 🤡 reuters.com/markets/us/us-…
Instead is the current CEO of FTX even thinking to revive FTX again. Coincidence? Anyway, it doesn't explain why the current buy pressure is coming from Binance. Or is someone there unloading with USDT? Because BTC/USDT showing big unloads related to spot CVD on Binance while
the opposite happening related to BUSD. While at the same time since 2 weeks we are seeing strange transactions related to $USDC. At the beginning was between Coinbase and Circle. But since last week also Binance is involved. Last night following happened. The same amunt went to
Instead what is happening?
"Oil firm executives, for their part, say the U.S. Administration’s policies and anti-oil rhetoric,
inflation, contractor time delays, and regulatory uncertainty are negatively impacting drilling and production planning."
Everything looks like, the oil production in US will decline more. While at the same time the U.S. Crude Oil Inventories has declined the first time in 3 yrs