Bitcoin market update in June 2022

 Bitcoin market update in June 2022

Keep in mind: But Alt coins did not go down too much!

To win, do not dead! keep money!

13th June 2022:

• Crypto lender Celsius pauses withdrawals due to 'extreme market condition
• Binance resumes bitcoin withdrawals after 'stuck transaction'
• US SEC Investigating Binance's Initial Coin Offering In 2017
• STETH depeg
• USDD depeg 
• CPI 8.3% (highest in 40 years)
• FED Funding rate (in May): 0.77
• ETH price = $1.2K < ATH in 2018 = $1.48K
• Glass node: The Darkest Phase of the Bear
• Vietnamese video about stETH deH

Market:

• BTC price low: $20K
• 24h: -25%, 7d: -25%, 1month: -34%, from ATH = -66.9%
• Total market cap: 860B (ATH: 2.9 trillion)
• BTC dominance: 48% 
• Liquidation: 1B
• Crypto fear and greed: 8 
• Third whale's profit -434M$ (18/06/2022)

Indicators:

• BTC open interest (from crypto quant): from 12B  down to 8B --> BUY
• Supply in profit (crypto quant): 50% -->BUY (Mar 2020 = covid = 45%) 
• Third whale's profit: 32 milion (=0%) (their DCA price of BTC = $22K)
• BTC realized price: Touch
• MA 200 weeks: Touch --> BUY
• Bitcoin rainbow chart: Reach lower edge of BUY band --> BUY--> Fire sale (17/6)
• Golden Ratio Multiplier: Far away from --> BUY
• Bitcoin Stock to Flow: Down --> BUY
• NUPL: reach blue --> BUY
• Puell multiple: almost reach 
• Thermocap multiple: below 1 
• Pi cycle top indicator: down
• The golden bull cycle ratio: down 
• Holder outflows (from whalemap.io) shows that at day 17/06/2022 a lot of short term holders was loss and long term holder took profit! (see fig below)

• 17/06: most of indices are in extreme cases!
• 22/06/2022 "Crypto is dead" on Google search reaches all time high 

Keep in mind: it is possible that we are being in a "huge distribution period" not a "bear period" 😭

See there is a large volume around the low price $7K, i.e. A large amount of BTC had been accumulated, while,  the distribution period in 2021-2022 only has a small volume. That means only a few BTC was sold. For now, I only have two explanations for this: 1) whales still accumulates BTC even the high price (like the third whale) 2) We are in the biggest distribution period and thus the price may goes down back to $7K.

Information:

Keep in mind: this information was claimed by the companies, and therefore may not true!