Andrew Tate intends to buy $100 million worth Bitcoin!

Welcome back to the daily Coinsauce Newsletter, your go-to source for the latest crypto updates 🗞️ If you like the newsletter, please let us know your feedback via the poll at the end of the newsletter ❗️ 

📈 Markets

• Overall bias - Cautious 🟠 

  BTC has broken above it’s $64,500 resistance and now looking to target & break it’s $67,200 level.

• $67,200 remains a key resistance for Bitcoin and till we break that level, the bias remains cautious. ~$58,500 continues to be a crucial support. Everything in between is noise, and no trade zones for swing trades. Exercising patience in sideways markets is important & rewarding.

• ETF inflows are ~+145 mil — Demand here is finally picking up, which is good for price action. Over the past 3 days, demand from ETF’s in the USA have surpassed $500 mil, which is a bullish sign.

• BTC dominance has been rejected from 56.4% and is now trying to hold support at 55.88%. If this chart breaks down, alts could gain some momentum, especially if bitcoin remains stable or rises. If dominance finds support at that level instead, BTC could

  go to re-test 56.4% once again.

• For investors, many alts are at multi-month lows, providing good opportunity for long-term investors to DCA in spot into fundamentally strong tokens.

📅 Today

Andrew Tate goes All-In on Bitcoin 💰️ 

Andrew Tate has announced his intention to invest over $100 million in Bitcoin, abandoning fiat money altogether. While doing so, he criticized traditional banks as fraudulent schemes and referred to fiat currency as a Ponzi scheme.

Although he hasn't made the move yet because he already holds more cryptocurrency than fiat, he actively promotes Bitcoin as the only viable investment alternative. He has previously criticized the US dollar, real estate, and other assets for being susceptible to government seizure.

Tate claims to have earned about $85 million from Crypto & DeFi during the last bull run and has been consistently buying Bitcoin since 2018.

Millennium Management has entered the chat ❗️ 

Millennium Management, an international hedge fund, has reported holding $1.94 billion in five spot Bitcoin ETFs: ARK 21Shares, Bitwise, Grayscale Bitcoin Trust, iShares Bitcoin Trust, and Fidelity Wise Origin.

This news follows the State of Wisconsin's disclosure of a $164 million investment by Grayscale and BlackRock in two funds.

Due to rising demand, pension and hedge funds are increasingly investing in Bitcoin, while the recent halving reduced Bitcoin's new supply by half. Don't let short-term market fluctuations deter you!

📊 Stats

Countries holding the maximum Bitcoin

• 🇺🇸 United States: 215,000 BTC

• 🇨🇳 China: 190,000 BTC

• 🇬🇧 United Kingdom: 61,000 BTC

• 🇩🇪 Germany: 50,000 BTC

• 🇺🇦 Ukraine: 46,351 BTC

• 🇸🇻 El Salvador: 5,692 BTC

• 🇧🇹 Bhutan: 621 BTC

• 🇻🇪 Venezuela: 240 BTC

• 🇫🇮 Finland: 90 BTC

• 🇬🇪 Georgia: 66 BTC

Educational 📔 

Visualizing the path to a typical alt-season 👀 

In our opinion, we are currently in stage 1, and a true alt-season has yet to start.

New money has yet to come in from retailers, and despite Bitcoin being well above $65,000, we are nowhere close to being in a euphoric stage!

• Source: Milk Road

Chart of the day 📈 

Rationale & confluences

• 1hr horizontal resistance

• 1hr premium zone

• 1hr bearish order-block

• 4 divergences on 1hr

• No momentum on 15 mins RSI

• Bearish divergence on 1hr RSI

Note: None of the content posted here is Financial Advise. This is for educational purposes only.

🤣 Meme of the day

Always learning the hard way 😂 

That concludes our update for today!

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