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PABS Crypto Trading Community (Binance: Bitcoin and altcoins). Signals: @PABSVIP_bot (try 5 days for free) News: @PABS_NEWS Admin: @PABS_Support_bot
The crypto market is a rollercoaster right now. We're in the dumps, portfolios are bleeding, but hey, it's a prime chance to snipe those discounted assets. Sure, we’re dollar-cost averaging most days, but that's the name of the game. Improvements in entry points are golden opportunities. The fear will eventually pass, and when the euphoria returns, you'll kick yourself for not scooping up that gem when it was a steal.
Unless, of course, you’ve gone all-in on STRK or another moonshot, just stay nimble. Our mission is snagging those juicy entry points so when the market flips and pumps, we’re laughing all the way to the digital bank. It’s about enhancing our positions. Regret not catching the bottom? Nah, but miss the rebound? That’s a noob move.
Happy Friday! Binance Bytes is an initiative by the Research team to provide a quick round-up of the week.
Highlights :
1/ Mt. Gox has started repayment distributions to creditors in BTC and BCH, transferring 47,228 BTC from its cold wallet to Bitbank and other wallets. The defunct exchange will be repaying over 140,000 BTC to victims of the 2014 hack after nearly a decade, causing marketwide concerns about potential selling pressure in the coming months.
2/ Pump.fun surpassed Ethereum network's daily revenue on Jul 2 with approximately US$2M in fees generated on a single day. Pump.fun's cumulative revenue has soared over US$51.3M since its inception in March, with massive retail interest in memecoin trading on the Solana blockchain.
3/ The European Union s Markets in Crypto Assets (MiCA) regulation for stablecoins entered into force on 29 Jun, with Circle being the first licensed stablecoin issuer under it. The MiCA regulation institutes uniform EU market rules for crypto-assets.
Market fear is mirroring the FTX collapse with many traders waving their white flags. Rumors of Mt. Gox dumping their 50k BTC add fuel to the fire. Bulls are sweating bullets as BTC threatens to dive to 30k, 20k, or even 10k. Hope you’ve got those diamond hands; it’s a rollercoaster out there!
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New #LTCUSDT spot signal 36581 from PABS bot
Binance LTCUSDT: ideas, news. V: 1923K USDT
Avg: buy -4.2% from top, profit +23.71%. Risk: 96%ticker name - #LTC
Entry some: 60.43-62.97
Take-Profit - 68 - 71 - 74 - 77
Stoploss 57.99
Ever notice how most crypto "influencers" hype up during bull markets but vanish when things get bearish? They either go radio silent or chant the eternal "buy the dip."
Don't get stuck thinking the market must always rise. It’s cyclical and has its own rhythm. The key is to stay adaptable and avoid being a perma-bull or a perma-bear.
Yo, check out this Binance BTC/USDT liquidation heatmap! The liquidity is heavy below current price levels, signaling a potential bounce if we dive. Bulls are loading up and ready to halt those liquidations! Get ready for some volatility!
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In the current whirlwind of the crypto market, eyes are glued to Bitcoin as whispers of a major rally bubble up. With around $14 billion in Bitcoin short liquidations perched at the $72,000 mark, the scene's set for a potential feeding frenzy among exchanges. They're likely itching to tap into that lucrative stash. As prices rebound, the 'bottom' talk in crypto circles isn't just chatter - it's a signal often preceding a significant price bounce. Savvy investors ready their wallets, knowing well that what goes down in the crypto world must come up.
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In today's market scenario, Bitcoin's dominance is soaring high, nearly touching that 60% ceiling again, which sends a certain buzz across the trading floor. With Bitcoin ETFs hitting the markets and Ethereum's ETF potentially on the horizon, the landscape looks primed for an alt season that could make the history books.
The current state of the market gives the vibe of an accumulation phase prepping for a substantial growth spurt. Bitcoin holding strong and the altcoins hovering at their lows brings about a similar setup to previous cycles where alts eventually played catch-up, exploding in value. Trader psychology here is paramount; those who can weather potential downtrends without capitulating could see substantial gains.
Amidst this backdrop, large players seem to be setting the stage for a bullish outbreak, similar to past market cycles. This isn’t new; big names have historically used these phases to shake out weak hands and accumulate more at lower prices. The market’s sentiment at the moment may be jittery, attributing to the fluctuations - typical signs of a market that's accumulating before a possible uptrend.
For the altcoins, this could be a critical moment. Traders should keep a hawk-eye on these signs, interpreting market movements and preparing their portfolios for possible scenarios. While Bitcoin's dominance is often seen as a hurdle, its eventual stabilization might just be the green signal for alts to thrive. Patience and strategy will be key in leveraging this accumulation phase, which could be the precursor for the next big alt season.
New #BAKEUSDT spot signal 36487 from PABS bot
Binance BAKEUSDT: ideas, news. V: 892K USDT
Avg: buy -2.12% from top, profit +19.25%. Risk: 8%Signal is here #BAKE
Buy around = 0.3302 - 0.3485
Stoploss 0.3099
TPs
Target- 0.4
Target- 0.42
Target- 0.45
Target- 0.47
New #ILVUSDT spot signal 36482 from PABS bot
Binance ILVUSDT: ideas, news. V: 92K USDT
Avg: buy -0.14% from top, profit +2.8%. Risk: 9%#ILV ILVUSDT
Accumulation price : 65.17 — 67.91
Targets : 69.34-71.77-73.97-76.46
Stop loss 63.71
#fBAKEUSDT hit third target. Bought at 0.3364 2 d 23 hr ago.
Profit: +16.2%.
Crypto whale activity is making waves! In June, whales dumped over $1.2 billion worth of BTC, according to analysts at CryptoQuant. As May ended, a surge in seller activity was noted, with both hodlers and miners offloading their stash. The ETF market saw an outflow of $460 million in the past two weeks alone, while OTC transactions totted up to approximately $1.6 billion. Long-term investors and mining pools have also transitioned towards offloading BTC. Interestingly, miners are now getting hip with AI projects, thus liquidating their BTC positions. All these dynamics are exerting a noticeable pull on BTC’s price, intensifying the volatility of the world's premier cryptocurrency.
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#fBAKEUSDT hit second target. Bought at 0.3364 2 d 9 hr ago.
Profit: +12.54%.
#fBAKEUSDT hit first target. Bought at 0.3364 2 d 8 hr ago.
Profit: +8.89%.
1/ The U.S. SEC has ended its investigation into Ethereum and will not take enforcement action against Consensys. This decision follows a lawsuit by Consensys, which argued that the SEC's actions were unwarranted since Ether is a commodity, not a security.
2/ Microstrategy, the largest corporate holder of Bitcoin, disclosed that it has purchased an additional 11,931 Bitcoin between 27 April and 19 June for a total amount of nearly US$786M. This purchase follows the company's US$800M convertible notes offering to institutional investors, now bringing its Bitcoin holdings to a total of 226,331BTC worth ~US$15B.
3/ 3iQ, a digital asset manager, has applied for a listing of a Solana exchange-traded product ( ETP ) on Canada's Toronto Stock Exchange, potentially making it the first Solana ETP in North America if approved. Named The Solana Fund (QSOL), this ETP aims to provide exposure to SOL and its daily price movements, with potential interest from SOL staking yields estimated at 6-8%.
New #FRONTUSDT spot signal 36925 from PABS bot
Binance FRONTUSDT: ideas, news. V: 934K USDT
Avg: buy -0.84% from top, profit +12.33%. Risk: 9%Ticker #FRONT
Get = 689 -718
Sell:
1: 938
2: 1048
3: 1159
4: 1600
Stop :632
There is no need to overestimate the risks; trade carefully.
Here are my stats on Altrady.
Binance Will Support the Galxe #GAL Token swap, Redenomination, and Rebranding to Gravity (G)
https://www.binance.com/en/support/announcement/binance-will-support-the-galxe-gal-token-swap-redenomination-and-rebranding-to-gravity-g-27449abd481b473493b9c058350b4e2e
New #fSUSHIUSDT futures signal 36541 from PABS bot
Binance SUSHIUSDT: ideas, news. V: 911K USDT
Avg: buy -1.08% from top, profit +9.36%. Risk: 9%#SUSHI
Get : 0.6697 — 0.6427
leverage 5x
Targets :
TP1 0.6842
TP2 0.7058
TP3 0.763
TP4 0.8993
Stop loss-0.6282
Bitcoin just staggered 18% down, only to rebound a weak 6%. Screams are loud about an “upcoming alt-season”, but let’s be real - most folks are down 60% or worse. The big players pretend their infinite bankroll can handle these dips, but nobody admits they've messed up.
We’re not seeing any reversal patterns, no clear signs of a turnaround. Yet, the hype persists. Be cautious with these dead-cat bounces and don’t get fooled by the noise. Stay strategic, keep your finger on the pulse. This isn't over yet.
Boom! The altcoin segment is feeling that early crypto winter bite, largely due to major token unlocks hitting the scene in 2024. Early project investors are itching to offload their tokens for quick profit rather than holding out for a future price pump.
Data from Token Unlocks reveals 120 out of 138 projects will unlock tokens in 2024, with a combined value estimated at a staggering $58 billion. June alone will see over $660 million worth of tokens unlocked. Parataxis Capital’s co-founder Edward Chin asserts these hefty sell-offs put immense pressure on alts, often forcing brokers to peddle these tokens at discounts up to 40%.
Last week, the crypto investment scene witnessed a hefty US$584 million drain for the second week running, chopping down a whopping US$1.2 billion from the coffers. Market whispers hint it's all about the jitters on expected FED rate trims, but hey, no one's running to beef up their shorts on Bitcoin - which clocked a massive US$630 million exit. On the flip side, altcoins felt some love with multi-asset portfolios snagging US$98 million, as traders eyed them as ripe for the plucking!
While the US reeled from a hefty US$475 million pullback, and Canada wasn't far behind shedding US$109 million, we saw some contrarians like Switzerland and Brazil who zagged with inflows of US$39 million and US$48.5 million, respectively. Ethereum wasn't spared in the selloff, bidding adieu to US$58 million, yet Solana, Litecoin, and Polygon managed to attract US$2.7 million, US$1.3 million, and US$1 million, pointing to some speculative nibbles in the altcoin space.
BTC's recent plunge to a crushing $62.1k, sparking panic among hodlers, can be attributed to several turbo-charged factors. Foremost, the avalanche of selling by miners, who've offloaded a whopping 30K BTC this month alone, sent shockwaves through the markets as these coins splashed onto exchanges. This heavy sell-off factions into a broader market sentiment, dialing up bearish vibes.
Mixing in the Fed's recent liquidity u-turn, the connection becomes clearer. With the Fed's liquidity flippers switching to dry mode in the past fortnight, BTC, like a surfer wiped out by a sudden retreat of the waves, finds itself scraping the ocean floor. And let's not forget the eerie silence from new money; Bitcoin ETFs are seeing more redemptions than a bad day at the casino, exacerbating the downturn.
Now, watch the newbies scurry as the Inter-Exchange Flow Pulse (IFP) wilts, signaling more BTC herded back to spot markets - a classic bear move. We might just see BTC scrape a $59K-$60K handle before this storm finds its eye. Remember, our June lows? Ring any bells? Keep those sats tight, we might be in for another historical bottom run.
#ILVUSDT hit first target. Bought at 65.68 8 min 19 sec ago.
Profit: +5.57%.
With the crypto market in a lull, many traders might be eyeing the current stall as a chance to reposition. The last quarter saw altcoins and BTC caught in a sideways dance, showing no significant momentum. Key attention is focussed on the introduction of an ETH ETF, which could lead the charge toward a bullish reversal.
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In the whirlwind of crypto market dynamics, big shifts are shaping the future of various cryptocurrencies, influenced heavily by major institutional entrants and relentless retail zeal. Wall Street giants like BlackRock have intermittently expressed interest in assets like Bitcoin, signifying a decisive shift in the crypto landscape. These heavyweight financial players contribute to molding big names like BTC and ETH into attractive prospects for ETF-based investments.
On the flip side of the institutional coin are the agile crypto funds, both big and small. The larger entities strategically bridge capital investors with development projects, securing long-term commitments that span years, if not decades. A smaller crypto fund? Essentially the same game but played with personal stakes. They’re the classic band of buddies, often seen riding the rollercoaster from a tiny office in some tax haven, pushing tokens into the market each month, surprising no one but themselves.
Then there’s the ‘retail bunch’, you and me, forever caught in the latest unlocks or dumps. We're the enthusiasts and the last-minute decision-makers, hustling for multipliers on our investments whether it’s with $100 or $10,000, often left scratching our heads as Solana skyrockets and our beloved altcoins stagnate.
As we steer through 2024, the backdrop includes an ever-expanding universe of new projects entering the market. While many teams resist employing market makers, fearing direct investment might lead to unsatisfactory price action, they fail to realize the torrents of new altcoins diluting their chances each month. It’s a visionary's market where only the savviest survive.
Yet, amid market narratives and burgeoning trends, the popularity of meme coins and the growing interest in AI-driven projects like AGIX and INJ illustrate a clear retail appetite for candid risk and instant gratification, regardless of looming unlocks or abundant market cap. The cipher of this marketplace is not just in its technical maneuvers but in its ever-evolving character, reflecting a sophisticated saga from 2017 to 2024.
Even when the markets are flat, I always have something to trade. Some traders panic, fearing perpetual stagnation, but that's only because they may be fixated on a couple of assets. Diversify your trades and keep your strategy flexible! If you solely focus on Bitcoin or Ethereum, you're ignoring a whole spectrum of opportunities present in other coins or even different markets.
A targeted strategy, a solid understanding of market behaviors, and reliable trading patterns are crucial. Forget relying on luck; trading is a science that involves risk management and a systematic approach to both entry and exit points. By adhering to this, you know exactly your risk exposure and your actionable steps at any given moment.
Another essential point is capital management. Always set limits on daily, weekly, and monthly trades. Even with a 60% success rate, proper risk and capital management can keep you profitable. Remember, the goal isn't to open countless trades but to ensure steady profitability month over month. Don't hustle for quantity; quality of trades matters more for long-term success.
#education
Ever stumbled into those crypto trading channels bubbling with only upbeat results and tightly sealed comment sections? Hint: tread carefully around here. These pseudo-traders have a knack for dangling the bait with closed comment venues — trust me, real dealers thrive on transparency! They lure you in with an illusion of crushing it in every trade, but jump in, and your wallet might just hit zero before your first coffee gets cold.
The classic signs of slipping into a trading trap? Absence of stop-loss orders, enticing yet fatally high leverages like 75x to 100x, which scream volatility mayhem, and those closed comments save them from exposing their shoddy trading calls and inevitable negative feedback. Always, and I mean always, look before you leap by ensuring these safeguards are in place. Channel sealed off from community feedback? Might as well be a museum of past disasters. Run, don't walk, from these setups unless you fancy funding their exit scams!
#education
In our latest report, we provide an overview of the crypto industry by highlighting projects across multiple sectors.
We spotlight themes from Real-World Assets, Memecoin Trading, the Bitcoin Ecosystem, and others in this report.
Check it out
https://www.binance.com/en/research/analysis/industry-map-jun24
