Solana Unveils Its New Mobile Phone 'Seeker'!

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📅 Today

🔍️ Market Outlook For The Week

• Overall Bias - Cautious 🙏 

• Post FOMC, BTC is re-testing the bull-market support band at $62,700-$64,000, trying to break this major resistance.

• This is a crucial price level. If BTC gets rejected here, further downside can be expected.

• Historically, Q4 has been the best performing quarter for BTC, so we can expect some bullish momentum due to seasonality.

• For the bulls, a breakout above $67,400 will take BTC to new all-time highs

• It is wise to not take any new leveraged positions till BTC closes above $67,400, and just DCA in spot instead.

Solana Announces Their 2nd Mobile Phone ❗️ 

Solana Mobile announced its second crypto phone, Seeker, at the Token 2049 conference, set to launch in 2025.

Seeker will feature hardware upgrades, including a better battery, improved camera, and lighter design compared to the Saga.

It will also enhance crypto capabilities with an integrated crypto wallet and partitioned Seed Vault key storage, making transactions smoother. Additionally, Seeker’s Dapp store will offer improved app discoverability.

While just 20,000 units of the Saga were produced, Seeker’s pre-orders have already hit a 7x multiple of that, signaling enhanced demand.

Dormant Addresses Awaken 👀 

A Satoshi-era wallet, dormant for 15 years, recently transferred $16M worth of Bitcoin

Over 250 BTC from Bitcoin's early days were moved in five separate transactions, each transferring 50 BTC to new wallets, totaling around $13M in value.

Notably, no transfers have been made from these new wallets to cryptocurrency exchanges, leaving the source of the movement unclear.

It remains uncertain whether the wallets belong to the same individual or entity.

📕 Educational

Bitcoin Cost-Basis for different cohorts 👇️ 

• New Custodial Wallets/ETFs: $62K

• Binance Traders: $55K

• Mining Companies: $43K

• Old Whales: $27K

Current Price: $64K

📊 Stat of the day

📈 Chart of the day

Rationale & Confluences :

• Ascending triangle breakout and re-test

• Macro horizontal support

• Trendline support

• 0.618 fib retracement support

• ETH/BTC showing signs of bottoming out

• This is a must-DCA zone in spot for ETH from a 1-2 year holding perspective

• Source : Cointraction

🤣 Meme of the day

That concludes our update for today!

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