Warren Buffet owned Nubank integrates the Lightning Network ⚡️

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📅 Today

🔍️ Market Outlook

• Overall Bias - Neutral 📈 

• BTC has broken all it's AVWAPs, and also broke down of it’s crucial $60,800 support zone.

• The most important support zone to focus at on the higher time frames is at $ $56,700 to $57,700, which is a macro horizontal support and the 200 Day MA.

• So far, the price has respected this support level. Usually, buying in spot with a very long term perspective on the 200 Day MA has never been a bad idea.

• BTC dominance is approaching a support level at ~54%. Look for alts to slow down a bit if this support level is respected.

Nubank to integrate BTC Lightning Payments ⚡️ 

Warren Buffett-owned Nubank, a major digital bank in Latin America, has struck a strategic partnership with Lightspark to add Bitcoin Lightning Network transactions to its operations.

Founded in 2013 and based in São Paulo, Brazil, Nubank serves 100 million customers across Brazil, Mexico, and Colombia.

This integration enables quick, low-cost, real-time Bitcoin payments for its users.

Congressman unveils bill allowing Bitcoin tax payments 💰️ 

Florida Republican Matt Gaetz introduced a bill on Tuesday that would allow people to use bitcoin to pay their federal income taxes.

The bill would require the U.S. Secretary of the Treasury to put in place a program to allow for federal income taxes to be paid via bitcoin.

Colorado was the first government to approve cryptocurrency payments for taxes in 2022. Utah, New Jersey and Kentucky have also made moves toward approving the payment.

The congressman cited his recent visit to El Salvador as inspiration for the bill

📕 Educational

• Why is Bitcoin Dumping? 🔍

  BTC has been trapped in a range mainly between $60,000 and $73,500 for over 105 days, reflecting typical post-halving patterns seen in previous cycles. However, recent data reveals significant selling pressure that could impact the market:

  👉 Bitcoin Miners' Sell-off: Since June, miners have sold over 30,000 BTC (~$2 billion), marking the fastest sell-off in over a year due to tightened margins following the recent halving.

  👉 Long-Term Holder Liquidation: Long-term holder whales have offloaded $1.2 billion in BTC over the past two weeks, likely through brokers.

  👉 Spot ETF Outflows: U.S. Spot BTC ETFs have experienced net outflows of $1.4 billion in the last 10 trading days.

  👉 German Government Sales: The German government has sold $325 million worth of confiscated BTC and still holds over 46,980 BTC valued at $2.84 billion.

  In total, BTC has faced approximately $5 billion in selling pressure over the past month, with potential Mt. Gox unlocks and additional German government-held BTC poised to enter the market.

  Currently, BTC is attempting to hold its 200-day moving average, a key support level. Bulls need to defend this level to sustain their bullish momentum in the short to mid-term.

📊 Stats

📈 Chart of the day

• Rationale and Confluences :

• Daily Macro Horizontal support

• Weekly Horizontal Support

• Daily Discount Zone

• 3 Bullish Divergences on Daily (RSI, MFI, Stochastics)

• 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 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!

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