#FTX Files for Bankruptcy 👀

Here's the analysis of #TWT :

#TWT drastically pumped due to #FTX issues caused in market. Majority #Defi Coins pumped including #TWT. Price broke the major level of resistance around $1.31 - $1.39. There's no resistance looking left, so price can move higher with retracement. Ideally, anticipating a deep pullback as of now. On hourly TF, you can still look for low risk, short-term short-sells now.

There's plenty of things happen in market right now, respective to #FTX Exchange. Grabbing each and every information with exact happens will be difficult for anyone. Taking this into account, better, there's no questioning about it that, you should stay from the #FTX native token and there direct investment in there portfolio.

Also, you should make sure to move, long-term funds from exchange to some hardware wallets and trading funds should be left over.

This mess gonna make market wild in any direction in upcoming days. So, better take only high probable setups and ignore lows one.

There's a lot of rumors running about #genesis and #Grayscale in the market, which could lead the heavy crash in market. Keep an on every news and tweets coming and don't open fresh position in any coins.

Keep spare funds for trading purpose only as these rumors can slowly dip the market as #FTX news drove the market eariler.

Here's the analysis of #TWT :

#TWT did a massive jump due to #FTX collapse issue and moved above major level of $1.31 - $1.39. Price now building a descending triangle pattern, which generally comes in downtrend with a down Impulsive move. Now, strong support is around $1.83 and there's nothing unless it breaks the pattern either side, just trade the breakout.

This phenomena is also reflected across #LTH (Long-Term Holder) Supply (coins held > 155-days), which is at a new #ATH of 14.46M #BTC. This reflects coins acquired immediately after the #FTX failure maturing into LTH status.

After a significant withdrawal of #Bitcoin during the #FTX implosion, Miners (excluding #Patoshi and early #unlabelled Miners) have Expanded their balance sheet by acquiring an additional +8,200 #BTC, bringing their total holdings to 78,500 #BTC.

Analyzing the average weekly #BTC netflow reveals intriguing patterns in their actions. In the initial phases of the 2020-2021 bull market, the #LUNA incident and #FTX fallout resulted in a period of significant accumulation and preference for self-custody. Many exchanges witnessed daily net outflows of 5,000 -10,000 #BTC.

Interestingly, #Binance exhibited contrasting behavior on multiple occasions. During market sell-offs and downtrends, the exchange experienced substantial #inflows. This could be attributed to #investors shifting their holdings away from perceived riskier exchanges (such as #FTX) towards the world's largest exchange, #Binance.

During the recent rally, whale inflow volumes to exchanges picked up quite significantly, hitting +16,300 #BTC Per day. This is a whale dominance of 41% of all exchange inflows, which is comparable to both the #LUNA crash (39%) and the failure of #FTX (33%).

Whenever there's a huge inflow, we can see some huge moved in the market.

#Bitcoin Futures markets have shown relatively stable open interest, maintaining a consistent value of $12.1 #Billion in the past month. These figures resemble the levels observed during the latter part of 2022 when prices were around 30% lower than the current levels, even during the period when the #FTX exchange was operational. This situation is reminiscent of the scenario seen during the January 2021 price surge, where prices were 30% higher, the market was less developed, and leveraged speculation was just starting to gain momentum.

In terms of comparison, the dominance and expansion of Options markets have notably surged, with open interest experiencing more than a twofold increase in the past year. Currently, Options markets stand on par with futures markets in terms of the scale of open interest.

Conversely, the open interest in futures markets has been gradually decreasing since the latter part of 2022 (coinciding with the #FTX incident), and has registered only a marginal rise in 2023.

On a comparative basis, #Options markets have seen a significant uptick in dominance and growth, with open interest more than doubling over the last 12-months. Options now rival futures markets in terms of open interest magnitude.

#Futures open interest on the other hand has been in steady decline since late 2022 (when #FTX collapsed), and has only seen a slightly increase in 2023.

The weekly price action traded down -11.3%, which is a significant fall, but is not the most significant in recent years. This performance is slightly shy of the long-term one standard deviation move of -12.6%, a level which was breached during major capitulation events such as the collapse events of #FTX, #3AC, and #LUNA.

Unlike options markets, futures traders did experience a major deleveraging event which has remarkable similarities to the #FTX collapse. Whilst smaller in scale, over $2.5 Billion worth of perpetual futures contracts were closed out in a single day. This represents a -24.5% decline, and a complete unwind of all leverage build up through July-August.

Big News 🛑

#FTX will likely get approval to liquidate its assets on Sept. 13.

#FTX had $3.4B in Crypto in April. The proposed plan is to sell assets worth up to $200M per week.

Use Tight Stops in Every Trade, Specially in #SOL #APT #DOGE #XRP #MATIC

We can see that #Bitcoin has generally been increasingly dominant over the past few years. Since the #FTX Collapse in November 2022, #BTC has increased its market cap dominance from 38.9% to 49.8%.

On the other hand, #ETH has maintained its market cap dominance, ranging from 18.9% to 18.2%. It is mainly Altcoins that have lost market share in the crypto markets with their market cap dominance dropping from 28.3% to 24.2%, while Stablecoins have also decreased their share from 13.9% to 7.8%.