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SYMBOL
LAST
BID
ASK
HIGH
LOW
NET CHG.
%CHG.
SPREAD
SPX
S&P 500 Index
6909.52
6909.52
6909.52
6915.87
6836.34
+47.63
+ 0.69%
--
DJI
Dow Jones Industrial Average
49625.96
49625.96
49625.96
49712.56
49158.28
+230.81
+ 0.47%
--
IXIC
NASDAQ Composite Index
22886.06
22886.06
22886.06
22948.87
22539.05
+203.34
+ 0.90%
--
USDX
US Dollar Index
97.290
97.290
97.370
97.600
97.240
-0.380
-0.39%
--
EURUSD
Euro / US Dollar
1.18286
1.18286
1.18294
1.18345
1.17896
+0.00486
+ 0.41%
--
GBPUSD
Pound Sterling / US Dollar
1.35257
1.35257
1.35268
1.35330
1.34767
+0.00551
+ 0.41%
--
XAUUSD
Gold / US Dollar
5175.05
5175.05
5175.44
5176.70
5102.51
+67.89
+ 1.33%
--
WTI
Light Sweet Crude Oil
65.961
65.961
65.996
66.055
65.364
-0.313
-0.47%
--
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Visxa Benfica 
@3654947For me hold tight to 5400 5500 5600 and beyond
Charizard 
Visxa Benfica
Perhaps gold prices will continue to rise sharply at the beginning of the year. From my perspective
john 
john
@Visitor3654947yeah apparently looking at the indices we can scream so
Visxa Benfica
Perhaps gold prices will continue to rise sharply at the beginning of the year. From my perspective
Visxa Benfica
john
Visxa Benfica
@CharizardI envision the next week potentially sweeping up to 5120-5200 before pushing down to support
Visxa Benfica
Those who buy early win big buddy
ali 
Btc buy or sell
Visxa Benfica
Visxa Benfica
@aliThe overall market is undergoing a significant correction after the previous pumps, although the volume isn't particularly explosive bro
Kevedge FX 
Kevedge FX
Visxa Benfica
Kevedge FX
@Kevedge FXIn my opinion, if you go long from the bottom, then holding is a good idea
Visxa Benfica
@Kevedge FXAs for short, be careful not to get squeezed bro
Kevedge FX
Visxa Benfica
@Kevedge FXFor me, buying at 4920-4880 and then looking further down would be my plan
Visxa Benfica
SL 4660, TP 5500 is a good long-term trade man
Kevedge FX
- All
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BTC Resistance Persists as US Wallet Activity Raises Questions
Summary:
The recent price action suggests that Bitcoin may face further downside if it closes below the 100-period moving average, where it is currently finding support.
CLOSED
96650.0
Entry Price
89600.0
TP
99400.0
SL
64838.3 -2798.7 -4.14%
2750.0
Pips
Loss
89600.0
TP
99400.0
Exit Price
96650.0
Entry Price
99400.0
SL
The U.S. government may be preparing to sell its Bitcoin holdings as prices continue to rally. On Monday, a wallet associated with U.S. authorities initiated its first transaction in over a month, transferring nearly 2,000 BTC.
Data from Arkham Intelligence reveals that a government-controlled wallet sent 19,799.99 BTC, worth approximately $1.9 billion, to an unidentified address. Shortly after, these funds were forwarded to a second wallet linked to Coinbase Prime, the institutional trading arm of Coinbase.
This marks the first movement since October, when U.S. authorities transferred around $20 million in cryptocurrencies following a reported wallet compromise. Those assets were returned by hackers and subsequently reorganized into new federal wallet addresses.
Monday’s transaction occurred in two steps: an initial test transfer of 0.001 BTC (valued at $97) to Coinbase was followed by the larger transfer. While the government has not issued an official statement regarding the purpose of this activity, such movements to exchanges are often interpreted as a precursor to selling. Historically, U.S. authorities have utilized Coinbase for liquidating crypto holdings.
Speculation continues to grow about the U.S. strategy for managing its Bitcoin reserves. The timing of the transfer suggests an intent to capitalize on Bitcoin's recent rally or to prepare for future sales. Either scenario could significantly impact the global cryptocurrency market.
Despite these developments, derivative markets indicate resilience. Traders are currently paying an annualized premium of 17% for leveraged positions relative to BTC’s spot price. While this is lower than the 40% premiums seen during stronger bull markets, it demonstrates healthy bullish demand without overextended optimism.
Although Bitcoin remains below its all-time high of $99,609 reached on November 22, derivatives data highlights sustained confidence among traders. However, concerns persist about the durability of recent aggressive buying, particularly by entities such as spot Bitcoin ETFs, MicroStrategy, and Marathon Digital.
Options markets reflect optimism, with whales and arbitrage desks favoring bullish bets. Notably, Bitcoin put options are trading at an 8% discount compared to call options, signaling reduced demand for hedging against price declines. Typically, increased hedging concerns push this metric above 6%, but the current levels indicate steady market confidence.
Technical Analysis
BTCUSD has struggled to breach its all-time high of $99,677, forming a descending trendline characterized by lower highs. The recent price action suggests that Bitcoin may face further downside if it closes below the 100-period moving average, where it is currently finding support.
The next major support lies near $89,500, a level that previously saw significant accumulation and aligns with the potential trajectory of the 200-period moving average. Should Bitcoin reach this zone, accumulation could occur, potentially setting the stage for a renewed upward trend.
Trading Recommendations
Trading direction: Sell
Entry price: 96650
Target price: 89600
Stop loss: 99400
Validity: Dec 13, 2024 15:00:00
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