Weathering the Crypto Storm: Panic Selling and the Ethereum ETF
Crypto Report
March 15, 2024
DAILY MARKET OVERVIEW
Market Correction & Ethereum ETF
Welcome, crypto crew! The market's bringing some serious heat, so let's dive right in and turn up the volume!
We just hit a significant correction, and the price charts are looking redder than a ripe raspberry. But don't sweat it, - we saw this coming in yesterday's report based on the analysis from @CredibleCrypto.
These dips and dives are all part of the crypto game, nothing to panic about. So keep those diamond hands strong.
Let’s talk about Ethereum: We've got some senators giving the SEC's Gary Gensler a good old-fashioned scolding. They're urging him not to approve any more crypto ETFs, claiming that the markets are too risky and prone to "fraud and manipulation."
Coinbase's chief legal officer wasn't having it, though, and came out swinging, pointing out that Ethereum's spot market is deeper than most S&P 500 stocks.
More of Ethereum, the rumors of an ETF approval are still swirling, and we're keeping our fingers crossed. After all, if Ethereum futures ETFs can get the green light, why not the real deal?
TWITTER SENTIMENT
The Aftereffects of Ethereum’s Dencun Upgrade
Ethereum's long-awaited Dencun upgrade went live yesterday, and we can finally see its effects.
Transaction gas fees dropped immensely on Layer 2 chains. Based on Uniswap data, we can see that the average swap on Arbitrum now costs just $0.05, whereas on Base, it's even less than a penny. Wow!
These are great news as the lower transaction costs will make crypto trading on decentralized exchanges much more accessible to everyone.
Market Analysis By @MaxBecauseBTC
The recent dip has made many people wonder whether the crypto run is over well according to Max from BecauseBTC the best is yet to come.
He states that altcoins aren’t doing anything different from what they have done in previous cycles.
If his theory is correct “the best is literally just around the corner” and we should expect a much stronger altcoin rally after the sell-off is finished.
NEWS OVERVIEW
Recent Crypto Events
YOUTUBE INFLUENCER SUMMARY
DataDash - Bitcoin Flash Crashes 11% | Is The Uptrend Breaking? (15.03.2024 Summary)
Nick from DataDash is here to take us on a rollercoaster ride through the wild world of Bitcoin and altcoins. It's March 15th, 2024, and Bitcoin just experienced a gnarly 11% flash crash, wiping out weeks of gains in just 48 hours. Ouch!
According to Nick and his trusty moving average charts, the trend might be shifting, and a healthy correction could be on the horizon.
Nick's got his eye on the alt dominance metrics, and he thinks we might be warming up to an altcoin cycle. Just don't get too ahead of yourself – he's reminding us to stay focused on market order flow and not fall in love with narratives.
So, there you have it, crypto folks! Nick's serving up a healthy dose of reality check, mixed with a sprinkle of optimism and a dash of insider intel. Just remember to keep your wits about you in these volatile markets!
Ivan On Tech - BITCOIN DUMPING FAST!!! (will it come back??)(15.03.2024 Summary)
According to our trusty guru Ivan, the markets are experiencing a bit of a "blood bath".. Bitcoin dived, and the gut reaction of many is to panic and sell. But fear not, Ivan reminds us that in a bull market, dips are for buying, not crying!
Now, let's talk altcoins. Ivan has his eyes on several promising projects that are currently on discount. Axie Infinity (AXS) and Polkadot (DOT) are two coins he's particularly bullish on. Axie is finding its footing after a massive pump, while DOT is gearing up for some exciting developments, like integrating with the Unity game engine and sponsoring race cars (because why not?).
Other altcoins on Ivan's radar include Avalanche, Radix, and Origin Trail. AVAX is testing resistance levels, and if it breaks through, we might see it soar to new heights. Radix is back from the dead, rising from its ashes like a crypto phoenix. And TRAC, well, it's bearish at the moment, but Ivan sees it as a prime opportunity to buy the dip once it flips bullish again.
Not to be outdone, meme coins have been pumping hard, reminding us that crypto is as much about fun as it is about finance. And if sponsoring the Super Bowl with a meme coin isn't the ultimate signal of a market top, I don't know what is!
So, that’s a wrap. The markets are a wild ride, but Ivan's wisdom is here to guide us through the chaos. Just remember, when the blood bath gets too intense, it's time to grab your floaties and buy the dip!
The information provided in this newsletter is for general informational and educational purposes only. It should not be considered financial advice or a recommendation to buy or sell. Please consult a qualified financial advisor for personalized advice that considers your individual financial situation and goals.