🚨🚨 Update: Our whales ratio maintains high, but decreasing as we can see at the 30D average. However, we have detected big inflows related to whales yesterday after the dump phase. That could be a sign of dump preparation. Stablecoin reserves on exchanges keeps
falling while stablecoin supply (circulating supply) keeps lifting up. I've detect some #tether outflows from #Binance again. A total of almost $600m withdrawn from #Binance since monday morning.
Our block view is showing a bigger inflows by whales and outflows afterwards.
Anyway also here the whales ratio 30D average is declining. Indicating less whales inflows.
Checking our netflow chart we see, in general netflows are lifting up indicating more inflows happening. #Okex, #Gemini and #Bitfinex are those showing bigger netflows (more inflows than
outflows) while #Binance is showing a bigger negative netflow, indicating bigger outflows.
If that maintains in that whay and the 30D average whales ratio would declined more, I would say, the bottom is in. But as we received big inflows related to whales yesterday after our
dump phase, I think we should be careful. I will observe the whales ratio and tweet as soon as I detect certain bullish/bearish patterns.
Our funding rates are declining in trend while our leverage ratio maintains high. Also confirmed by Coinglass. Indicating more shorts are
coming in since last hour. The 24h view shows also more shorts than longs. #Bitfinex traders went long at 39.7k and have started to close those the way up. Long and shorts get liquidated yesterday. But no big volume.
Option traders are trading the 28Jan expiry. Showing a bullish
sentiment. We have a max pain of 50k right now and a total volume of almost $1.8 billion ($1.19b Calls vs. $560m Puts). So, 28Jan 50k is a must have for them.
Our next expiry is 14Jan with a max pain of 44k and a total volume of almost $640m.
The expiry has a max pain of 43k
as it has just a total volume of $300m I wouldn't consider that as an accurate indicator to predict a price level for next week.
I hope these little update gives you enough information to plan your next trade strategy.
I'm expecting some sell pressure. I'm bearish until this
week due the incoming events, but bullish from friday on. Anyway, I will trade carefully.
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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