Despite a sell-off that felt like a bad first date, ADA’s structure is clinging on like my ex to her yoga mat. Growk Finance’s chart says it’s in a 4-year symmetrical triangle-basically, it’s been in therapy for four years and still hasn’t figured itself out. The $0.70-$0.72 zone is acting like the bouncer at a club, keeping the bears out. For now. 🕵️♂️
These funding rates for crypto derivatives? They’re lower than a snake’s belly in the 2022 bear market flop. All this after billions in leveraged bets got flushed down the toilet like yesterday’s bad trade. 🚽
The race for the coveted spot XRP ETF approval is heating up like a summer day in Moscow, and some analysts are whispering (okay, loudly declaring) that this could ignite a supply shock of epic proportions. Hold on to your digital wallets, folks, this is about to get spicy.
According to the soothsayers at DefiLlama, open interest in perpetual futures on decentralized exchanges (DEXs) plummeted from $26 billion to a mere $14 billion. Crypto lending protocols, those modern-day usurers, raked in over $20 million in fees-a record, no less. Meanwhile, the total borrowed across platforms dipped below $60 billion, a figure not seen since the halcyon days of August. 🏦💸
Bitcoin, bless its soul, might just be ready to take a well-deserved nap, and guess who’s stepping in to steal the spotlight? The altcoins! Ethereum, Solana, and Cardano, those little darlings of the crypto world, are already preparing for a thrilling ride. As traders pull their money from the Bitcoin beast, the altcoins are there to catch it-like a hot potato on fire! 🔥 And with this, volume is increasing, and the market is whispering, “More to come!”
Investors, whether fresh-faced rookies or battle-hardened veterans, are nervously clutching their portfolios as the market’s mood swings from optimistic to downright apocalyptic. But while panic spreads like wildfire, long-term holders are still sipping their tea calmly, ignoring the madness. Oh, the joys of patience!
Derivative drama alert: bullish bets piling up toward $0.99, but watch out for profit-taking gremlins sparking sneaky pullbacks. Like, seriously, who invited the sellers to this party? 🙄💸
Bitcoin ETFs? More like “Bye-tcoin” ETFs, am I right? 😂 They bled $326.52 million, according to SoSoValue (what a name, huh?). Fidelity’s Wise Origin Bitcoin Fund (FBTC) lost $93.28 million, while Grayscale’s Bitcoin Trust (GBTC) said “hold my beer” and dumped $145.39 million. 🍻 Ark 21Shares (ARKB) and Bitwise (BITB) also joined the party, losing $21.12 million and $115.64 million, respectively. But hey, BlackRock’s iShares Bitcoin Trust (IBIT) was like, “I’m not like the other ETFs,” and gained $60.36 million. 🎩✨
According to the ever-vigilant Scam Sniffer, our victim was ensnared by the allure of “permit” and “increaseApproval” signatures-a feature so convenient, yet so perilous! These signatures, disguised as the most mundane of approvals, granted third-party contracts unfettered access to their tokens. Oh, the folly of trusting without verifying! 🕵️♂️
So here’s the scoop: Bitcoin fell below $112K – and what spawned this crisis? China’s latest trade measures, of course! It’s like they’re having a trade war, and we’re just the unfortunate bystanders. 😱