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Crypto Prices Drop To Major Support Line [Pay Attention Now]
Content Introduction
The crypto market is currently experiencing a downturn, with Bitcoin retesting its 20-day EMA (Exponential Moving Average). A large sale of Bitcoin by Galaxy Digital has contributed to market jitters. However, the speaker advises viewers not to panic, viewing this as a redistribution of old coins to new hands. Positive factors include MicroStrategy increasing its Bitcoin offer and new companies announcing Bitcoin treasuries. Despite the downtrend, altcoins are holding up well and $M2 money supply continues to show an rising liquidity in the economy. There are rumors that China is shifting into Bitcoin. The speaker advises viewing the 20-day EMA as a buying opportuntity but that a failure could invalidate those bullish oppourtunities.Key Information
- Crypto markets are currently experiencing a downturn, but the speaker advises against panicking over the 20-day EMA retest.
- Galaxy Digital has been selling Bitcoin, contributing to market uncertainty.
- Strategy has increased its offer again $2.8 8 billion to buy more Bitcoin.
- Despite the sell pressure, companies like MicroStrategy are continuing to invest heavily in Bitcoin.
- A new Japanese company has recently announced a Bitcoin treasury, joining a growing trend.
- The speaker highlights that buy pressure is substantial, with companies announcing Bitcoin treasuries.
- The speaker points out that the current retracement is a retest of the 20-day EMA, a common occurrence in an uptrend.
- The speaker observes that ETH has held up strongly during the recent Bitcoin selloff, while Solana and other altcoins are retesting their 20-day EMAs offering potential buying opportunities.
Timeline Analysis
Content Keywords
Bitcoin Market Dump
Bitcoin markets are experiencing a downturn, possibly due to Galaxy Digital selling off a significant amount of Bitcoin. Despite this, the overall sentiment remains positive with companies like MicroStrategy increasing their Bitcoin holdings. Experts suggest that this could be a redistribution of old coins into new hands rather than a cause for alarm.
Bit Unix
Bit Unix is an exchange that allows users to long the rips and short the dips with deep liquidity in major coins. It provides cash back and trading bonuses. It is available to anyone, anywhere.
Altcoin Analysis
Altcoins are showing resilience despite Bitcoin's fluctuations, indicating strong market appetite. Dogecoin, for example, is undergoing a 20-day EMA retest, which is considered a normal and healthy part of a market cycle. Traders are advised to anticipate these pullbacks and avoid longing into resistance.
Market Trends & Predictions
The USM2 money supply has surged, indicating continued liquidity in the system, which is expected to lift all boats. China's potential re-entry into the crypto market is viewed as a significant development. ETH is performing strongly, while Solana and XRP are undergoing 20-day EMA retests. Traders should avoid being shaken out by volatility and focus on retest strategies.
Related questions&answers
Why are crypto markets dumping today?
What is the significance of the 20-day EMA retest?
What is MicroStrategy doing?
Are we at peak treasury company?
What can you tell me about the MACD?
Is there any news about China and crypto?
What's the sentiment on altcoins?
What is the current status of DogeCoin, ETH and Salana?
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