I also note that there is an influx of $862mn into cryptocurrency investment products based on the results of the past week.
Despite the market correction, the inflow of liquidity remains, which is extremely important for the harmonious conditions of the financial market.
It feels like a combination of the Covid crash in 2020 and the FTX crash, but even faster.
$BTC has dropped from $70k to $52k in one week (-26%).
$ETH has fallen from $3400 to $2100 (-39%).
And it doesn't even seem like the worst is over yet...
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BREAKING: Mark Zuckerberg admits that Meta gave in too quickly to pressure from the Biden administration in 2021 to censor COVID content. 🚨🇺🇸
Even satire was off-limits. ‼️
Now, he promises to push back and is cutting donations to the Democrats.
🚨🇺🇸BREAKING: ZUCKERBERG REGRETS CAVING TO BIDEN'S CENSORSHIP DEMANDS, CUTS DEM FUNDING
Mark Zuckerberg, in a bombshell letter to House Judiciary Chairman Jim Jordan, expresses deep regret over Meta's compliance with Biden Administration pressure to censor COVID-19 content in
#Bitcoin
remains above $60,000, yet public enthusiasm is surprisingly low.
Meanwhile, savvy investors are accumulating.
History seems to be echoing itself.
The Japanese company Metaplanet has just announced the purchase of an additional 57
#BTC
. 📈
This brings their total holdings to 303
#BTC
, valued at approximately 18 million USD.
Overview of the Dominance of
#BTC
👀
I reviewed the entire wave structure on the graph and came to disappointing conclusions.
The current sidewall looks like a barrier triangle in the 4th wave, which means that growth can continue.
I see the option of expanding the triangle (I have rephrased the inclined resistance) and for now I will start from that scenario.
It assumes a retest of the lower bound in the area of 67k$. Next, we will look at the reaction of the buyer 👀
The reason for the current sluggish price action of
#Bitcoin
is likely due to the ongoing MtGox saga.
Once this 10-year-old story finally comes to an end, there will literally be nothing standing in our way.
UPDATE: MT. GOX MOVES $3.1B BTC
Last night Mt. Gox addresses moved 33.96K BTC ($2.25B) to addresses we believe are most likely BitGo:
bc1q26tsxc0ge7phvcr2kyczexqf5pcj8rk79cqk90h34c30dn9dskeq3gmw3f
bc1q48a5tjhdjtkfv8zv6tj68767h8lgep9dpx0emrkx0yhhmum7wscs95ft36
BitGo is the 5th