Demand for $IBIT continues to surge 📈

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📅 Today

🔍️ Market Outlook

• Overall Bias - Bullish🙏

• BTC has now closed above it’s 200 Daily Moving Average & the 20 Weekly Moving Average, and closed the week above $67,500 which is quite bullish.

• This level was the weekly supertrend resistance (10, 1.5), which was crucial to break.

• Moving forward, the outlook for BTC is now bullish.

• It seems like the phase of consolidation is coming to an end, and prices could rally significantly higher, based on historic analysis.

• The invalidation level for this would be a weekly close below $58,500, after which the bias will shift to bearish.

Ethereum ETF’s Start Strong 🙏 

Ethereum ETF's did not disappoint on launch date!

The Ethereum ETFs launched with a remarkable $1 billion in trading volume on their first day, capturing 23% of the spot Bitcoin ETFs’ debut volume.

In comparison, most ETF launches struggle to hit $1 million on their first day, underscoring the strong demand for Ethereum from both institutions and retail investors.

$IBIT Demand Continues To Surge 📈 

BlackRock's $IBIT ETF has had $19.4 Billion inflows since launching 6 months ago, now holding over $307.75K BTC.

2 days ago, $IBIT recorded $526 million in net inflows, the single biggest inflow in over 88 days.

Over the past 1 week alone, BlackRock has scooped up over $1.3 Billion worth of BTC. Most impressively, $IBIT has had only 1 outflow day since launch in January.

While retail interest for BTC is at near FTX levels, institutions seem to be showing FOMO over BTC. Once the price of BTC starts rallying again, we believe that the retail FOMO will rise exponentially too.

📕 Educational

Where is Retail? 🔍

Timing is one of the most valuable skills to have in crypto. If only selling high and buying low were that easy. What if there was a tool that helped you do exactly that? What if there was a tool that collected most of the very best high quality metrics that will help you time the tops and bottoms of a bull market.

The free and open-source tool available for all is called :

Colin Talks Crypto Bitcoin Bull Run Index (CBBI) - https://colintalkscrypto.com/cbbi/

What is it?

The CBBI is a Bitcoin index that utilizes advanced, real-time analysis of 9 metrics to help us understand what stage of the Bitcoin bull run and bear market cycles we are in.

The indicator aggregates most of the high-quality timing metrics from researchers of the past and put it in the index so you don’t have to spend weeks worth of work. One can even toggle on & off individual metrics based on preference.

These are the current 9 metrics:

1. Pi Cycle Top Indicator

2. Net Unrealized Profit/Loss (NUPL)

3. RHODL Ratio

4. The Puell Multiple

5. 2-Year MA Multiplier

6. Bitcoin Rainbow Price Chart

7. MVRV Z-Score

8. Reserve Risk

9. Woobull

How to use it?

Selling the Top :

Just have all the metrics on and when the index goes over 90 it’s a good time to start selling. Once over 95 you should start aggressively selling.

Buying the Bottom :

You do the reverse for buying. Start buying under 10 and aggressively buy under 5.

Source : Merivercap

📊 Stat

📈 Chart of the day

• A bullish cup formation breakout

• A re-test of the breakout zone

• Bullish confirmation on the re-test

• Stochastics oversold

• RSI in buy zone

• Confluence with a macro horizontal support

• Note : None of the content here is Financial Advice. Everything in this newsletter is for Educational Purposes only.
  

• Source : Cointraction

🤣Meme of the day

Accurate 🤣 

That concludes our update for today!

We appreciate you joining us for the latest news. Our aim is to provide the best in class insights and highlights that keep you well-informed and ready. Remember to follow us on Instagram for additional updates and giveaways. Until then, see you next time!

Disclaimer : None of the content shared in the newsletter is financial advise. Always do your own research before investing.