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Open Interest got flushed today again. Good Sign.
Your Crypto Guy 🇮🇳
Open Interest got flushed today again. Good Sign.
You can see here how the manipulators dumped the price and then brought it back to the same level, but due to the increasing Bitcoin dominance, altcoins haven’t recovered.
We will see this ratio again after the Rate cut.
Bitcoin
The stock market has recovered, but Bitcoin is still lagging behind the S&P 500.
This chart is showing a very interesting scenario.
Funding Rate 👆
Some people couldn’t understand liquidity, and because of this, they’re making calculations that don’t make sense. Keep in mind, we can’t track 100% of blockchain native coin liquidity. I already mentioned that we can track 70% of a coin’s liquidity, To understand liquidity, it’s important to know which chain the coin is deployed on. Again, keep in mind that we can’t track the liquidity of all coins, but the ones we can track give us an idea.
BITCOIN 📊
💵 🖨️
Again 🖨️
Get ready for the rest of 2024.
FOMC minutes in 2.5 hours.
Your Crypto Guy 🇮🇳
FOMC minutes in 2.5 hours.
Fomc Minutes Recap:
The FOMC minutes indicate a "likely" rate cut in September as most Fed members are leaning towards a rate cut at the next meeting-if the data stays positive.

Rising Unemployment Risks: Majority are concerned about rising unemployment.

Economic Growth Downgraded: Outlook for growth for 2nd half 2024 revised downward. Fed believed consumer spending did start to weaken based on delinquencies going up🚀