Final Batch of #bitcoins sold off from the German Govt. Wallet

Market absorbed the and CMP of #BTC is $57,900

#BITCOIN DAILY TF UPDATE :

#BITCOIN on Daily TF, broke the support and now retesting the resistance as the bearish market structure do. Price rejecting the resistance is not a good scenario to expect. Next week we might see a breakout of the resistance or forming a lower low.

#FTM dropped 34% in profits and printed a new lower low. Price nearly to its next major support area of $0.34 and currently retracing. ON LTF, price forming a Bear Flag, so, kinda bearish sense for now.

Examining the Short-Term Holder (STH) cohort's cost basis and the levels ±1 standard deviation from it. This shows where these price-sensitive holders might react:

- 🔴 Significant unrealized profit indicates an overheated market at $92k.
- 🟠 The break-even level is $64k, with the spot price currently below but trying to reclaim it.
- 🔵 Significant unrealized loss indicates an oversold market at $50k, aligning with the True Market Mean as a bull market break-point.

Only 7% of trading days have recorded prices below the -1SD band, making it relatively rare.

Here's the Analysis of #MATIC :

#MATIC is strongly bounced from the major support zone of $0.41 - $0.44 and entered into the resistance area of $0.52 - $0.53. Now, it a crucial area and it can be rejected from here or a break and close above the zone. Take the setup only after the HTF candle closing.

#BITCOIN WEEKLY TF UPDATE :

#BITCOIN on Weekly TF, retracing to the upside and now price slides over the $60,000 area now and closing is still pending. Price still moving below the resistance and bearish market structure too. Eyes on the $61,500 - $62,250 area as closes above will give early sign of bullishness.

#DXY UPDATE :

#DXY continued lower as the it closes below the support with a small retracement. We can see the impact that market pumped towards the $60,000 with that. Now its again at a same point, A rejection or a closure will lead the next week market drive, so be alert.

What Is a Shard Chain?

Sharding is the process of splitting a database horizontally in order to spread the load. This is a common concept in computer science.
In the world of cryptocurrencies, specifically in Ethereum, sharding can reduce the network congestion as well as increase transactions per second through the creation of new chains, which are known as shards.

To better define this, sharding refers to splitting the entire Ethereum network into multiple portions, i.e. shards. Each shard would essentially contain lots of its own independent states, and this means that a unique set of account balances as well as smart contracts are in it. Sharding is the most complex solution out there implemented within Ethereum.

Keep in mind that the information which is stored within a shard can still be shared across other nodes, and this keeps the ledger itself decentralized as well as secure due to the fact that everyone can still see all of the ledger entries. The shards simply do not process or store all of the information.

In other words, sharding can be a good way to scale if you want to keep things decentralized as an alternative to scaling up through increasing the size of the existing database. This would make Ethereum a lot less accessible for network validators due to the fact that they would need far more powerful as well as expensive computers. With shard chains, a validator only needs to store the prime or run data for the shard they are validating, and not the entire network. This can in turn speed things up drastically and reduce hardware requirements.

Read About Sharding Here

Here's the Analysis of #AI :

#AI still continues to trend lower and no clear support area to the left. Price again formed the consoldiation after a break of previous one. Still, nothing much, market looks bearish, if this #BTC dumps slightly we can short.

#BTC gave a weekly closing below the resistance area but this week candle trying to push to the upside(Above Resistance). Daily candle closing gave decent closing above $60,000 which looks healthy. Price need to see a closing above $62,000 and we can see market continue to pump again.

#US30 UPDATE :

#US30 gave a breakout to the upside, and that's the reason we wait for the breakouts. #US30 printed a new All-Time High, and still pushing. Price now expected to take back a pullback 40,000 or deeper at 35,000.

"STH cost basis exceeds current price. Analysis of different age groups within STH cohort shows:
- 1d-1w, 1w-1m, 1m-3m: average unrealized loss
- 3m-6m: only group with unrealized profit (avg. cost basis $58k)
This indicates unproductive consolidation for traders and highlights $58k as a key price level."

What Is Sharding?

Sharding is a technique to partition databases that can be used to scale blockchains. It allows blockchains to process more transactions per second, also known as higher throughput. Sharding splits the blockchain network into smaller partitions. These so-called shards only process a part of the data of the entire blockchain, which makes them independent from other shards and relieves them of unnecessary computing.
Thanks to sharding, a network can compute more transactions and thus scale faster to transaction speeds known from centralized ledgers. On the other hand, critics point out that shards are liable to attacks and reduce network security.

How Does Sharding Work?

Blockchain networks are made up of nodes that validate the transactions in a network. Nodes are independent of one another and store the historical data of a blockchain. All full nodes store the entire history of a blockchain, which increases a blockchain's security and decentralization but slows down its transaction speed.

Sharding partitions the workload of nodes across different shards. In essence, not every node has to validate each transaction, which unnecessarily strains nodes and slows down the network. Instead, the work is compartmentalized across different shards. The blockchain databases are partitioned horizontally, meaning the different shards are split according to their characteristic. For instance, shards can be responsible for storing transactions of a specific type, while other shards can be divided based on the type of crypto asset they store.

The result is that not each node confirms each transaction. This drastically reduces a blockchain's workload and increases its speed.

How Secure Is Sharding?

Sharding has been criticized for potentially decreasing a blockchain's decentralization and security. Shards could be corrupted, with one shard taking over another shard, which could lead to a loss of information or data. For example, a hacking attack may take over a shard and introduce false transactions, which leads to confusion among other shards over the validity of the data.

How Does Ethereum Use Sharding?

Ethereum plans to use sharding as part of its scaling approach to increase the blockchain's throughput. The network will introduce 64 new sharded chains in the future, which will have distinct responsibilities and will greatly reduce the workload of Ethereum's mainnet, called the Beacon Chain. This process will happen as part of Ethereum's scaling that sees the switch to proof-of-stake as a consensus mechanism. This switch is dubbed the Merge. Sharding will be one of the next steps for Ethereum in its scaling roadmap.

Here's the Analysis of #MKR :

#MKR gave a healthy breakout of the zone from the falling wedge pattern. Price already bounced from the Major support area of $2140 - $2195 so we can see previous high can be broken. On-chain activity on #MKR shows a good whale activity in it. A retest back to $2575 is expected to go any buys in.

#BTC tapped into the resistance area with a clean closing of $64,000. You can see how resistance area working well, price got a strong rejection from the zone making strong bearish candle. Still, we can expected the price to hodl above $60,000. and move higher.

Mt. Gox moved 44,527 $BTC(2.84B) to an internal wallet 5 minutes ago, which may be preparing for repayment.

#GOLD UPDATE:

#GOLD played perfectly and made a new Higher high and even break the drawn zone and broke the resistance too. Price did a retest back to the zone and again performed the same. Looks like price wants to get into the All-Time Highs, so wait for the further opportunities.