#BITCOIN WEEKLY TF UPDATE :

#BITCOIN on Weekly TF, did exactly what we predicted and rejected played out well though. Due to rejection price dropped back tot he support area and now retesting the support zone as mentioned for it. Candle close will play important role here, so eyes on closure and by next week we need to see a breakout, which will support the either side trend.

#DXY UPDATE :

#DXY gave a tiny rejection but made a flip above the resistance area, and retested too. Now, its a bit worrying situation that, market may go lower by next week it sustains over it. Next Resistance is at 106.50% so it might reach out there at 1st pace

We'll evaluate long-term holders' (LTHs) spending rate via their 30-day net position change. During the run-up to March's ATH, LTHs saw major distribution. In previous bull markets, LTH net distribution peaked at 836k-971k BTC/month. Currently, it peaked at 519k BTC/month in late March, with 20% from Grayscale ETF holders. This high-spending was followed by a cooling period, with LTHs accumulating around +12k BTC/month

Here's the Analysis of #CHZ :

#CHZ is going lower lows with the market conditions reached on the Strong Support Zone of $0.098 - $0.102. Price look strongly bearish, so this will be the aggressive buy area. The safer option will be wait for the breakouts and rejections.

#BTC weekly candle close strongly bearish and dropped back lower to support now. Price going though the correction phrase and might dip once again, so need to see a breakout sooner anytime, annotations marked with the charts

#GOLD UPDATE :

#GOLD correctively moved upwards and but failing to sustain above the zone. Price did gave a fakeout, so expecting the drop lower supports around $2300 and $2278.

The Bitcoin network is currently experiencing similar contraction in network activity, albeit, with entirely different drivers. In the following sections, we shall explore how the advent of Inscriptions, Ordinals, BRC-20s, and Runes have significantly altered how on-chain analysts should perceive activity metrics moving forwards.

What Are Second-Layer Solutions?

A set of solutions built on top of a public blockchain to extend its scalability and efficiency, especially for micro-transactions or actions. Layer-2 or second-layer solutions increase the throughput and transactions per second of a blockchain by creating additional blockspace or recording transactions in a more efficient manner. Examples include Plasma, TrueBit, Lightning Network and more.

Why Are Layer-2 Solutions Important?

Layer-1 solutions increase a blockchain's scalability and, therefore, its utility. Without them, blockchains often suffer from congestion, slow transaction speeds and high fees. Layer-2 solutions direct transactions away from the mainnet and towards its cheaper and faster alternatives.

What Are The Most Popular Layer-Two Solutions?

There are several popular layer-2 solutions for blockchains like Bitcoin and Ethereum.

Lightning Network

The Lightning Network is a second-layer solution for the Bitcoin blockchain. It allows for much higher transaction speeds and near-instant settlements of payments at quasi-zero costs. The Lightning Network enables users to open channels between parties, where they can send Bitcoin without settling the transaction on the mainnet. Upon closing the channel, the final state is broadcast to the Bitcoin mainnet.

Optimistic Rollups

Optimistic Rollups are second-layer solutions for the Ethereum blockchain. They process transactions off-chain before publishing a compressed version of the new state of the blockchain to the mainnet. Cryptographic proofs check the accuracy of optimistic rollups. Optimistic rollups greatly reduce gas fees. The Optimism protocol uses them to scale Ethereum.
Learn more in our article How to Use Layer-2 Rollups to Avoid Gas Fees.

ZK-Rollups

Zero-knowledge rollups also reduce gas fees while improving transaction speed. They submit cryptographic proof of the veracity of unprocessed transactions without knowing the content of the transactions. This allows the mainnet to process more data and improve the utility of the blockchain.
Learn more about ZK-rollups in our article What Can Zero-Knowledge Technology Do for Scalability?

Sidechains

Sidechains are separate blockchains that process transactions faster and leverage the security of the main blockchain to secure transactions. An important sidechain layer-2 for Ethereum is the Polygon ecosystem.

#ETH UPDATE :

#ETH cleared liquidity from the lows and move with strong momentum. Price gave the minor structural shift and there it good amount of liquidity siting on the top. Price also moving back and forth from the key resistance area, so eyes on break to the upside.

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Notice of Removal of Margin Trading Pairs - 2024-06-19
https://www.binance.com/en/support/announcement/be3b189044584849b1344fa36baf49a7

#BTC haven't moved anywhere, just damaged the altcoins by sharply moving back and forth with that, price is stuck in between though. Expecting some sort of breakout by wednesday at NY,due to news, else this whole weekend will also go in consolidation, so you can wait for it.

More than $500M+ were liquidated in past 24H and now its $480M+

#US30 UPDATE :

#US30 moving as per the projections and Expecting rejecting the resistance and support too. Price stuck between the zones and now need to eye on the breakouts. Never the less, the breakout will drive the dive either side, so take it accordingly.

Despite the historical confluence between strong market momentum, and an expansion of active addresses and transaction counts per day, a deviation in this trend is underway.

The present monthly average transaction count resides at 617k/day, which is 31% above the yearly average, and signifies a relatively high demand for Bitcoin blockspace.

#ADA tried to hodl the support but failed and given a close below candle. Price got a retest and dumped hard with the market conditions. It a clean shorting opportunity and currently price reached near the support area around $0.35 and could be the next potential area.

#BTC kept on getting lower lows and lows high and broken the support on H4 TF. On Daily TF its clean rejection and now a reversal is expected, to be bullish we need to see a break of trendline and resistance area, which is nearly $67,500.