Bitcoin

BTC 14 percent Crash

What Caused Bitcoin to Crash 14% in a Single Day?

A $43 billion mistake triggered massive sell orders, crashing Bitcoin 14% in minutes. Here’s how it happened. Bitcoin may be volatile, but it doesn’t usually drop 14% in a single day without a major macro shock, regulatory crackdown, or exchange hack. But this time, the trigger wasn’t a government ban or a cyberattack. It was something far more mundane — and far more embarrassing.

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NYSE ROC 2-1-25

February Market Update- NYSE, NASDAQ and Crypto

Unusual things move the market. Lately, FED announcements have been responsible for moving the market, but at its January 28-29 meeting, the FED didn’t have much to say, i.e., they kept rates steady, so the market was relatively stable. The one telling comment from FED Chairman Jerome Powell at this meeting was his shift in how he spoke about Crypto. He seemed to be opening the door for banks to custody Bitcoin.

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Crypto Politics

The Tectonic Shift in Crypto

This past week a few slightly “under-the-radar” events caused a major shift in the crypto arena that most people are totally unaware of. Just a couple of weeks ago, Joe Biden was threatening to Veto pro-Crypto legislation, Sen. Elizabeth Warren was railing about the evils of crypto and how it is only good for hiding assets and mafia transactions. And the Democrat-controlled Security Exchange Commission (SEC) is actively targeting several major crypto sponsors despite having approved Bitcoin Exchange Traded Funds (ETFs) in January.

Then along comes Trump, who holds a Crypto “Love Fest” at Mar-a-Lago, which catapults crypto into the political spectrum… Ethereum ETFs are approved… the House approves the FIT21 Act, and the tide against Crypto has turned.

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BTC-ROC-5-24

Applying the ROC to Crypto

Our ROC system is very good at spotting major turning points in the market. So this month we adapted it to look at Bitcoin and Ethereum. While doing this we changed the look of how we do ROC, so we will be adapting the regular ROC charts to the new style as well. The advantage of this new look is that you can see the underlying index at the same time, so you can see exactly where the various signals kicked in and how it evolved from there. Also, I think the new look is much cleaner and less cluttered.

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