Low sentiment permeated crypto markets this week as Bitcoin hit a record monthly low. Contention grew between whales and exchanges as they tried to cover liquidation losses stemming from a months-long crypto contagion that kicked off with TerraUSD.
UST +397.1%
OMT +10.1%
10SET +10.1%
SAND +7.7%
AMP +5.8%
SNX -30.0%
WAVES -20.4%
ZEC -19.8%
BSV -19.3%
AAVE -18.3%
This week, we rolled out our new fair pricing model as the next phase in the evolution of Quadency. Bot fees are now linked to trading volume and traders can deposit USDC and/or QUAD into their Quadency account, depending on their region.
Learn more on the Quadency pricing page.
Sadly, this week saw the kind of record we’d rather not acknowledge: the lowest monthly candle ever in Bitcoin’s history, down almost 40%. BTC dipped below $19k mid week but gave a little pump on Thursday evening, ending the week up 1.2%. $2 billion more in Bitcoin left exchanges this week, as diamond handers reached peak uncertainty relating to centralized exchanges and pending regulations.
Since the recent June 30th BTC price movement, we can start noticing the price moving in a pattern similar to a symmetrical triangle. This triangle may be the movement for the next two weeks, but keep an eye out for the breakout - it can go both ways.
On the macro, Bitcoin is in a rare position. After this week's sell-off, June has officially closed with a record-breaking lowest-ever monthly RSI. Meanwhile, support seems to be hovering around the 2017 ATH, give or take a few percentages.
Ethereum (ETH) addresses with .01 ETH or more reached an ATH of 23.3 million, while 11.5% of Ethereum’s total supply is now stored in ETH 2.0, worth over $25 billion. 32% of that ETH is staked by Lido, the largest ETH 2.0 staking pool, causing some concern in the Ethereum community.
In other altcoins:
Solana is in an ascending triangle, which is a bullish pattern. The ascending triangle, with the current price at support with decreasing volume, may lead to some exciting price movement. Because as we see accumulation increase, the price has a good probability of moving upwards. If this is the case and scenario, it may be time to pull out the "Market Maker" bot.
Turn TradingView alerts into executable signals with Quadency’s TradingView bot!
Sadly, this week saw the kind of record we’d rather not acknowledge: the lowest monthly candle ever in Bitcoin’s history, down almost 40%. BTC dipped below $19k mid week but gave a little pump on Thursday evening, ending the week up 1.2%. $2 billion more in Bitcoin left exchanges this week, as diamond handers reached peak uncertainty relating to centralized exchanges and pending regulations.
Since the recent June 30th BTC price movement, we can start noticing the price moving in a pattern similar to a symmetrical triangle. This triangle may be the movement for the next two weeks, but keep an eye out for the breakout - it can go both ways.
On the macro, Bitcoin is in a rare position. After this week's sell-off, June has officially closed with a record-breaking lowest-ever monthly RSI. Meanwhile, support seems to be hovering around the 2017 ATH, give or take a few percentages.
Ethereum (ETH) addresses with .01 ETH or more reached an ATH of 23.3 million, while 11.5% of Ethereum’s total supply is now stored in ETH 2.0, worth over $25 billion. 32% of that ETH is staked by Lido, the largest ETH 2.0 staking pool, causing some concern in the Ethereum community.
In other altcoins:
Solana is in an ascending triangle, which is a bullish pattern. The ascending triangle, with the current price at support with decreasing volume, may lead to some exciting price movement. Because as we see accumulation increase, the price has a good probability of moving upwards. If this is the case and scenario, it may be time to pull out the "Market Maker" bot.
Turn TradingView alerts into executable signals with Quadency’s TradingView bot!
We took an in-depth look at STEPN’s Move-to-Earn lifestyle app to give traders an objective, thorough look at the fundamentals and tokenomics of this trending project.
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Quadency is a cryptocurrency portfolio management platform that aggregates digital asset exchanges into one easy-to-use interface for traders and investors of all skill levels. Users access simplified automated bot strategies and a 360 portfolio view with a free account.
Disclaimer: The content of this article is for general market education and commentary and is not intended to serve as financial, investment, or any other type of advice.
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