The market is bleeding, BTC is almost -30% from ATH, and sentiment among investors is reaching the bottom. But it is precisely in moments like this, when most people panic, that we have to look at data that others cannot see.
Kraken enters the local market and gives away BTC
Before we get to the meat and chart analysis, I have an important message for you. The stock exchange is the partner of today’s meeting Krakenwhich is now officially entering the Polish market with a bang.
Why is this such important information for us, traders? Because in the crypto world, where trust is a scarce commodity, Kraken stands like a fortress. They have been operating since 2011, they have survived every boom and bust, and most importantly – they have never been hacked.
Kraken is also a pioneer of Proof of Reserves. It regularly demonstrates that it holds client assets on a 1:1 ratio. Given what has been happening on the market in recent years, keeping your capital on a stock exchange that puts safety first simply gives you peace of mind.
In the attached video materials from today’s live you will find, among other things, a discussion of the most interesting functionalities of the Kraken exchange.
But I wouldn’t be myself if I didn’t mention the special offer Kraken has prepared for our readers!
By joining as a new user you can now get 15 euros in BTC for a good start! Yes, it’s that simple. All you need to do is deposit 100 euros, which you can then freely trade on one of the best cryptocurrency trading platforms. Join the Kraken and see for yourself!
What does on-chain data tell us about the condition of the market?
The liquidation map from the Kingfisher portal indicates that the entire lower zone of the position has been cleared at the level of USD 91,350 – 89,000.
This indicates a possible rebound towards the upper stop-losses, even to the level of USD 100,000.
In the last 24 hours, we recorded nearly 400 million liquidations of leveraged positions in the cryptocurrency market, which is a high daily result.
At the same time, miners are not capitulating, as evidenced by the stable inflow of BTC from their wallets to centralized exchanges. Extremely large flows signal that miners are driving selling pressure, but this is not the case here.
Technical analysis of Bitcoin and Ethereum
Bitcoin
Ethereum
I know that many of you are tired of the prolonged wait for the altseason and the sucking of liquidity from the cryptocurrency market despite the good situation in traditional assets. Despite this, I recommend patience and prudence. Lows are there to be bought, not sold at a loss 😉 DYOR!
The article does not constitute investment advice. For more interesting analyzes be sure to follow our social media!
