BTC miners' holdings plunge to lowest levels in 14 years ❗️

Welcome to the daily Coinsauce Newsletter, its good to be back. Lets get straight into today’s newsletter!

📅 Today

🔍️ Market Outlook

• Overall Bias - Leaning Bullish 📈 

• Bitcoin held it’s crucial support at $67,200 so far. As long as we are above this level, things are good, and Bitcoin’s up-trend remains intact.

• There are multiple wicks as resistance for BTC as it is now aiming for new all-time-highs. There is no particular price point to pin-point for a rejection.

• If BTC dominance is rejected at 54.7%, it should be good for alts on an intraday basis. If we breakout, alts should underperform.

• Overall, BTC looks strong and poised to break ATH soon. We have great ETF inflows, neutral funding rates, ETH ETF approvals, ETF approvals in Australia & Thailand for BTC, liquidation map more or less neutral, and a lot of leverage flushed out of the market during the 3 month consolidation phase.

Bitcoin Miner Holdings reach record lows ❗️ 

Miner holdings of Bitcoin are in decline, down 50% from highs. It was over 5,000 days, or 14 years, since miner reserve of Bitcoin was this low.

The decrease in miner reserves is primarily due to escalating mining costs and the need to liquidate assets to sustain profitability.

As mining becomes more challenging, miners are forced to sell some of their Bitcoin holdings to invest in advanced mining equipment and stay financially afloat.

To give some context:

14 years ago Satoshi was still active on the Bitcoin project, no altcoins existed yet, Obama was President, and it would be another 10 years until Michael Saylor and MSTR bought their first Bitcoin.

Compound this with higher demand by institutions, lower inflation and lower emissions, a major supply crunch seems due for BTC.

Robinhood X Bitstamp ⚡️ 

Robinhood has agreed to buy Bitstamp, a U.K.-based crypto exchange, for $200 million in cash, set to close in the first half of 2025.

Bitstamp, founded in 2011, is one of the most regulated exchanges in Europe and holds over 50 licenses and registrations worldwide.

This acquisition aims to help Robinhood grow its global crypto presence and attract institutional clients.

This deal will put Robinhood in direct competition with industry giants such as Binance and Coinbase. The stock of the company has surged 69% YTD.

📕 Educational

🚨The meteoric rise of Toncoin & how Telegram unlocks the key to mass adoption of crypto 👇️ 

Telegram's $TON has skyrocketed to the 10th largest crypto project with a FDV of over $31 billion, growing 10x in under a year.

TON's close ties with Telegram, innovative tech, key events, and booming ecosystem make it a standout crypto project to watch out for.

Since TON is tightly linked with Telegram, which is huge in the crypto world and nearing 1 billion users, it could very well be the key to mass adoption of crypto.

TON isn’t just a blockchain. It includes :

• TON DNS (Crypto domains for web3)

• TON Storage (Decentralized Storage)

• TON Payments (Micropayments)

The blockchain can itself handle over 100,000 TPS.

In the recent past, TON has made strides with the following :

• Launched TON Space, a self-custodial wallet

• Distributed $200 million in $TON to boost ecosystem growth

• Launched USDT on TON, with $330 million authorized

TON DeFi reached $400 million in TVL . Notcoin, a viral GameFi app, gained 35 million players, airdropping $NOT tokens to early players. The $NOT token has a FDV of $2.2 billion, and is up 300% since launch.

Future growth drivers for TON could potentially include more GameFi dApps, better interoperability with other blockchains and continued growth in DeFi metrics.

Credits : Hiroki Kotabe 

📊 Stats

📈 Chart of the day

• Rationale :

• 4H horizontal support

• 4H discount zone

• 1H bullish orderblock

• Need to see multiple divergences on ltf & positive PA to enter.

• Note : None of the content in the newsletter is financial advise. This is for educational purposes only.

• Source : Cointraction 

🤣 Meme of the day

That concludes our update for today!

We appreciate you joining us for the latest news. Our aim is to provide insights and highlights that keep you well-informed and ready. Remember to follow us on social media for additional updates and giveaways. Happy trading, and see you next time!