Dear Friends,
At the time of writing this article, the Global Crypto Marketcap stands at $ 2.24 Trillion, which is a lower of 1.92%.
The cryptoleader BTC is trading at $ 60684 (-3.41%) while ETH trades at $ 3347 (-1.69%)
The fear greed index is at 44 which shows as a neutral.
The BTC dominance is at 53.3.
While we witness the continuous fall in the crypto market, while BTC slipped its support level at $ 63,300 it is anticipated at it will trade in the $ 60000 range and if it slips further it will also slip to the range of $ 58000 range.
If we see the BTC heatmap, the liquidation very much happens at the 63000 levels.
The liquidation heat map allows traders to identify areas of high liquidity areas with the magnet zone where the concentration of potential liquidation level and support/resistance zones where the whales execute the high volume trades preferably at their favourable prices. This is also the areas where the prices can also reverse at both the ends.
The on-chain market intelligent platform Santiment reported that the highest social volume & dominance spikes for the bottom level this time. This has happened earlier may time. Just by analyzing the pattern.
According to data from Santiment, on June 23, the total number of Bitcoin whale transactions with the trading volume above $100,000 has also been dropped to 9,923, marking a 42% decrease from the 17,091 transactions recorded during the two preceding days.
It is also came to know that there were the highest outflows in the BTC ETFs also during these days.
Despite these widely found bearish indicators, some analysts see signs of prospects for BTC as the change in volume with the futures citing to the IFP ( Interexchange Flow Pulse) indicates that they may use as a hedge too. See Ki Young Ju wrote this in his X page ( link has attached)
As we discussed in our previous post, market is at its crucial juncture and waiting for the move mostly in the upside in another 2 weeks time.
Make a careful watch at the market and take decisions accordingly.
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