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Mt. Gox Moves $2.2 Billion in Bitcoin Amid Repayment DelaysMt. Gox, the once-dominant but now-defunct Bitcoin exchange, made waves by transferring 32,371 CRYPTOCAP:BTC —valued at approximately $2.2 billion—to unmarked wallets. The timing of these movements is critical, given the already volatile landscape surrounding Bitcoin and ongoing uncertainties related to the upcoming U.S. presidential election. Mt. Gox Transfers 32,371 BTC to Unmarked Wallets Blockchain analytics firm Arkham reports that Mt. Gox has executed a massive transaction, moving 32,371 BTC to two unidentified wallet addresses. This event stands as the largest transfer from Mt. Gox in recent months. Specifically, 30,371 BTC went to a wallet labeled “1FG2C…Rveoy,” while the remaining 2,000 BTC was directed to a separate wallet named “1Jbez…LAPs6.” Additionally, an internal movement of 2,000 BTC between cold wallets suggests ongoing asset reorganization, likely in preparation for creditor repayments. This is not the first time that Mt. Gox has moved funds, as smaller transfers were observed last week. However, this latest transfer's scale has piqued market watchers' interest, sparking questions about its timing and the potential impact on the Bitcoin market. Repayment Delays Extended to 2025 The transfer comes on the heels of Mt. Gox announcing a delay in its repayment schedule. Initially set for October 31, 2024, the deadline has been postponed to October 31, 2025, following approval by a Japanese court. This extension gives the Mt. Gox Rehabilitation Trustee more time to sort out repayment plans, which many investors see as a temporary relief. However, there is lingering concern about the eventual release of a large volume of Bitcoin into the market, which could exert significant downward pressure on CRYPTOCAP:BTC prices if creditors decide to sell their holdings en masse. Market analysts are wary of how these delays and large-scale transfers could impact the broader cryptocurrency ecosystem, especially as repayment announcements from Mt. Gox have historically triggered market volatility. Market Reaction and Election Uncertainty The market's response to Mt. Gox's Bitcoin movements has been mixed. Some investors fear that the impending distribution to creditors could lead to substantial sell-offs, pressuring Bitcoin's price downward. These concerns come amid broader geopolitical and economic uncertainty, compounded by fluctuations in the U.S. presidential race. Bitcoin’s price has already experienced a 7% dip last week, largely attributed to uncertainties surrounding the U.S. election. Speculation is rife about potential regulatory changes, with some traders anxious about a Kamala Harris presidency, given her largely undefined stance on cryptocurrencies. Conversely, a more crypto-friendly administration could spur optimism among investors. Technical Outlook Despite these concerns, Bitcoin ( CRYPTOCAP:BTC ) has shown signs of resilience. As of now, BTC is trading up 1.53%, with an RSI of 54.82, signaling moderate bullish momentum. The daily price chart also indicates a bullish engulfing pattern forming, which is often a precursor to upward movement. Furthermore, a golden cross—a bullish technical signal where the 50-day moving average crosses above the 200-day moving average—is slowly materializing. Bitcoin’s immediate support lies between the $64,000 to $65,000 pivot range, and a short-term correction could be on the horizon. However, we are eyeing a potential surge to $75,000, with optimistic projections even stretching to $100,000, assuming bullish catalysts materialize. These factors include institutional inflows, market sentiment shifts, and broader acceptance of Bitcoin as a store of value amid economic uncertainty. What Lies Ahead Bitcoin’s trajectory is shaped by both macroeconomic elements and crypto-specific news. The Mt. Gox repayment delay has provided a reprieve, albeit temporary, preventing a massive influx of CRYPTOCAP:BTC into the market. Additionally, geopolitical events, such as the U.S. presidential election and looming concerns about regulatory shifts, add layers of complexity to Bitcoin’s outlook. Investors should also consider Bitcoin’s role as a hedge against inflation and geopolitical instability. As traditional markets brace for election-related volatility, Bitcoin’s status as "digital gold" may attract more attention, driving up prices. However, this is contingent upon market sentiment remaining favorable and no significant sell-off events—such as a large-scale release from Mt. Gox creditors—materializing. Conclusion Bitcoin’s road ahead is fraught with both challenges and opportunities. The Mt. Gox transfers and repayment delays have introduced another layer of complexity, while the upcoming U.S. presidential election adds to the uncertainty. Yet, technical indicators suggest that a bullish trend could be on the horizon, provided the market can weather short-term corrections and external shocks. As always, the crypto landscape is ever-changing, requiring both patience and mental fortitude from investors. The coming weeks will be pivotal in determining Bitcoin’s trajectory, and all eyes will be on key resistance and support levels as the market digests these developments
COINBASE:BTCUSDLong
by DEXWireNews
2
#Altcoin run is programmed in the medium term.2025 will be unique for #Alts and #Bitcoin The impact of the elections in the US on financial markets can be significant. A win by #Trump or Harris could have different effects in terms of economic policies and market expectations. If Trump wins, it is possible that prices will rise even more due to high inflation expectations in the markets. If #Harris wins, it is expected that the #Fed will continue with its current monetary policies, so although there will be price fluctuations in the short term, it is possible that the bull run will continue in the long term. It should not be forgotten that the election results are not only related to short-term effects, but also to medium and long-term economic fundamentals and central bank policies. 🤝
CRYPTOCAP:TOTAL3
by EtherNasyonaL
1
BTC : Riding Asia Open Volume to the Golden Zone TargetOn the 8-hour chart, I’m targeting an entry to capture potential volume influx as the Asian markets open. I plan to take partial profits along the way, with a target to reach the $71,000 zone, which aligns with the golden Fibonacci retracement level. Fundamental Context: This setup is influenced by the buzz around the upcoming U.S. Presidential Election and speculation around Donald Trump’s potential reentry, possibly fueling a “buy the rumor, sell the news” effect. Given the high-impact events surrounding this period, I’m managing risk closely, aiming for strategic exits to maximize profitability within this volatile environment. Note: Please remember to adjust this trade idea according to your individual trading conditions, including position size, broker-specific price variations, and any relevant external factors. Every trader’s situation is unique, so it’s crucial to tailor your approach to your own risk tolerance and market environment.
Long
by AR33_
2
BTC IN UP MOVEMENT + TRADE PLANTrend Identification: Descending Channel: Bitcoin is currently in a descending parallel channel after an uptrend, indicating a potential bullish continuation if it breaks out of this channel. Previous Uptrend: The price came from an uptrend, and descending channels often serve as continuation patterns, suggesting a higher probability of an upward breakout. Key Support and Resistance Levels: Support Levels: $68,556.87: Major support near the recent low in the channel. $66,333.98: Secondary support zone that could act as a cushion in case of a downside move. $64,591.15: Historical support level providing a safety net if the price dips further. Resistance Levels: $72,198.87: Immediate resistance that BTC needs to overcome for a continued uptrend. $73,655.67: Key resistance area that, if broken, could trigger a strong bullish move. Indicators Analysis: RSI (Relative Strength Index): The RSI is close to the midpoint, indicating a neutral zone. However, an upward movement in RSI could signal increasing bullish momentum. Stochastic RSI: Currently near the overbought zone. It indicates potential upward pressure, but caution is needed as it may signal short-term exhaustion. Volume: Noticeable increase in volume around the support levels, indicating buying interest. Volume confirmation on breakout above the resistance line would strengthen the bullish case. Moving Averages: HMA (Hull Moving Average): Showing a slight upward trend, aligning with the potential breakout from the descending channel. Trading Plan Entry Strategy: Aggressive Entry: Enter a long position upon the breakout of the descending channel, ideally with a confirmed volume increase above $72,198.87. This would signal a possible continuation of the previous uptrend. Conservative Entry: Wait for a confirmed breakout and retest of the $72,198.87 level. If the price holds above this level after retesting, it indicates stronger bullish confirmation. Stop Loss: Place a stop loss slightly below $68,556.87 to limit downside risk. This area aligns with recent support, and a drop below it may indicate invalidation of the breakout pattern. Take Profit Levels: Primary Target: $73,655.67 (first resistance level). Partial profits can be taken here to lock in gains. Secondary Target: $76,000, if Bitcoin gains strong momentum after breaking through the primary target. This level could be achieved in a continued bullish scenario. Final Target: $80,000 as a psychological target, if there is sustained bullish momentum and no major resistance above. Risk Management: Position Size: Limit the position size to manage risk exposure, especially with the potential volatility in cryptocurrency markets. Trailing Stop: Consider using a trailing stop after reaching the first target to lock in profits while allowing for potential upside. Monitoring Indicators: Volume: Continuously monitor the volume as the price approaches resistance zones. Higher-than-average volume would support the breakout, whereas weak volume could lead to a false breakout. RSI and Stochastic: Keep an eye on these momentum indicators. If the RSI and Stochastic enter overbought territory and start to diverge, it could signal a potential reversal. Timeframe: This setup appears on a 4-hour chart, suggesting a medium-term trading perspective. Reassess positions if the breakout fails to materialize within the next few days.
Long
by elfabiiani
1
Bitcoin Faces Critical Week Amid US Presidential ElectionBitcoin ( CRYPTOCAP:BTC ) is at a pivotal moment, with the cryptocurrency market bracing for heightened volatility as the United States approaches a historic election. The impact of this key event, combined with a possible Federal Open Market Committee (FOMC) interest rate cut, is set to make waves across digital asset markets. At the time of writing, CRYPTOCAP:BTC is trading at $68,749.84, up 0.62% over the last 24 hours, with a daily trading volume of $35 billion and a market cap surpassing $1.35 trillion. Elevated Volatility Expected Traders are bracing for sharp moves in CRYPTOCAP:BTC , as indicated by a 30-day gauge of implied volatility developed by CF Benchmarks. Caroline Mauron, co-founder of Orbit Markets, highlighted a potential swing of 8%, starkly contrasting the usual 2% fluctuation level. This suggests traders are preparing for significant market action, and expectations of volatility are reflected in the crypto options market. Political Uncertainty Looms Large The 2024 US presidential election adds another layer of unpredictability. Both frontrunners, Donald Trump and Kamala Harris, have expressed distinct stances on cryptocurrency and blockchain technology, setting the stage for shifts in market sentiment. Trump has boldly positioned himself as the "Crypto President," promising to elevate Bitcoin as a strategic reserve for the United States. His strong pro-Bitcoin rhetoric, coupled with a pledge to fire SEC Chair Gary Gensler—widely seen by the crypto community as an adversary—has fueled optimism among investors. Meanwhile, Kamala Harris's emphasis on tech innovation has kept speculation alive about how her policies might influence the crypto market. The political landscape’s close ties to the crypto industry could be pivotal, especially with the backdrop of regulatory debates involving the SEC and CFTC. Historical Trends and Market Sentiment Historically, Bitcoin’s performance has been closely linked to major political and economic events. Notably, the cryptocurrency has often rallied following US presidential elections, mirroring trends seen in traditional markets like the S&P 500. The Kobeissi Letter's analysis of past elections reveals that 83% of election years have yielded positive returns leading up to Election Day. However, these gains moderated post-election, emphasizing the importance of timing in market strategy. Technical Outlook: Mixed Signals From a technical perspective, Bitcoin’s charts reveal mixed but potentially bullish signals. Two critical patterns are forming on the daily chart: 1. Doji Candlestick Pattern: The emergence of a Doji pattern, which indicates indecision among traders, often precedes significant market moves or trend reversals. This formation suggests that market participants are awaiting key news, such as the election results and the FOMC decision, before committing to a direction. 2. Golden Cross Formation: The market is closely monitoring a potential Golden Cross, a bullish indicator that occurs when the 50-day moving average crosses above the 200-day moving average. While this pattern has yet to fully materialize, it is gradually building momentum, signaling possible upside in the coming weeks. Bitcoin’s Dominance and Macro Environment Bitcoin’s dominance remains robust at 59.2%, a testament to its evolution from a peer-to-peer (P2P) technology to a global financial asset. Amid ongoing concerns about inflation and economic uncertainty, CRYPTOCAP:BTC continues to be seen as a hedge against traditional financial risks. The potential for a 25-basis-point rate cut by the Federal Reserve this week could further boost bullish sentiment for Bitcoin, making it an attractive asset for risk-on investors. Long-Term Optimism Despite Short-Term Concerns Despite near-term worries about a potential market dip or crash on election day, long-term optimism prevails. Analysts are betting on a strong rebound, with Bitcoin potentially setting a new all-time high if bullish catalysts align. The overall crypto market remains in a consolidation phase, but any positive momentum in Bitcoin could see a cascade effect on top altcoins, setting the stage for a robust market recovery.
Long
by DEXWireNews
Bitcoin: Small Dip to $49k Or Crypto Winter down to $15k?There are two potential options for Bitcoin price. 1) Price will complete ABC correction as we have A-B in place already. The wave C could retest the valley of wave A at GETTEX:49K 2) Large red second leg down could complete a bigger correction. It could retest the bottom of leg 1 around $15k. Only below GETTEX:49K we can see what structure is unfolding. What are your thoughts why such a huge collapse is possible? Media says miners start switching to AI investments to drop cryptos. Please share your thoughts down below
Short
by aibek
1
Bitcoin Roadmap==>Short term!!!Bitcoin ( BINANCE:BTCUSDT ) touched the 🎯 Targets 🎯 as I expected in the previous post ✅. Bitcoin started to rise well from the Support zone($67,620-$67,000) and the Support line again ( the start was accompanied by good momentum ). Regarding Elliott's wave theory , wave 5 seems to be completed . I expect Bitcoin to rise to at least the Support zone after breaking the Resistance lines . ⚠️Note: The American elections and the tension between Iran and Israel can easily change the scenarios of Bitcoin: if the tension between Iran and Israel increases, we can see the fall of Bitcoin, and if Donald Trump does not succeed in the US presidential election, we can see the fall of Bitcoin. And vice versa.⚠️ Bitcoin Analyze (BTCUSDT), 15-minute time frame⏰. 🔔Be sure to follow the updated ideas.🔔 Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Long
by pejman_zwin
15