On-Chain Data Signals, EXOLO Updates,Bitcoin analysis
Week in Review
Key Highlights in Crypto and Economy
Technicals & Macro Update: BTCUSD Outlook
Technical & Macro Analysis: BTCUSD & ETHUSD
BTCUSD: Prepare for an exciting week! The "Trump trade" is gaining momentum with positive sentiment from Mt. Gox creditors holding their Bitcoin. Trump's bold statements on creating a strategic Bitcoin reserve and firing SEC Chair Gensler add significant credibility. He even suggested Bitcoin could rival gold and be as pivotal as the steel industry a century ago. Similarly, Robert F. Kennedy Jr. is considering a government Bitcoin reserve. With political candidates vying for the 50M crypto holders' votes, BTCUSD could push to $72,000 and potentially hit all-time highs around $73,800. Watch for a possible sharp move if we break these highs.
Key Levels: 59,000 / 66,000 / 72,000 / 73,794 (ATH!)
ETHUSD:
Ethereum is following Bitcoin's upward trend. The recent ETF launch is positive but lacks Bitcoin's political momentum. If you're betting on political influence, Bitcoin might outperform ETH. The next key level for ETHUSD is $4,000.
Key Levels: 2,700 / 3,350 / 3,600 / 4,000
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What to Watch This Week:
EXOLO UPDATES:
What’s New at EXOLO?
$10,000 USDT Prize Pool on EXOLO!
Get ready for an exciting adventure! We're thrilled to announce a $10,000 USDT prize pool event for the RUNE token, launched on Monday, 22 July 2024, with the RUNE/USDT pair on EXOLO Futures!
New Token listing
Say Hello to Our New Joiners!
We are thrilled to welcome three new tokens to the EXOLO exchange! ??
FLOKI - https://bit.ly/FLOKI_LISTING
At EXOLO, we're dedicated to providing our community with diverse and secure trading options. These new additions are a testament to our commitment to bring you the best in the crypto space.
Onchain Data Signals
Key On-Chain Metric: SOPR
The Spent Output Profit Ratio (SOPR) indicates whether BTC investors are selling at a profit or loss. A value above 1 means net profit, while below 1 indicates losses.
Long-Term Holders (LTHs) SOPR:
Focusing on LTHs, who have held BTC for over 155 days and rarely sell, their SOPR can be especially telling. Recent market conditions seem to have pressured even these steadfast holders to sell, as shown in the chart below.
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