BTC Weekly Closing:

🔸 BTC closed below MA200 this time. This signifies that the price still struggling to reclaim key levels from the Macro perspective
🔸 However, this doesn’t mean a negative sign. The lower TF still looks bullish
🔸 As long as BTC stays above 20k zones and keeps pushing higher highs, everything is still good

Crypto market weekly Performance

Realized Losses, (Denominated in Bitcoin) remain elevated, however, it appears that the peak BTC cycle bottom capitulation could already be in.

The number of whale addresses increased!

🔸 Throughout 2022, whales have increased and this shows that a lot of buying and accumulation has happened during the recent declines.
🔸 We have to wait for the effects of this issue

Another Bitcoin Macro set-up

🔸 The crossing of the previous all-time high and the regression trend of a correction indicate a bottom and a reversal.

source

📢Global Market Update📢

Here's a list of the Q2 earnings report for this week

▫️Tuesday 7/26
Visa, UPS, Microsoft, Kimberly-Clark, Mondelez International, Unilever, Stryker, 3M, Chipotle Mexican Grill, Skechers, Raytheon Technologies, PulteGroup, Moody’s, McDonald’s, General Motors, Coca-Cola, Alphabet, and General Electric

▫️Wednesday 7/27
Meta Platforms, Bristol Myers Squibb, GSK, Boeing, Teladoc Health, Sherwin-Williams, Qualcomm, Humana, Ford Motor, Genuine Parts, CME Group, General Dynamics, Kraft Heinz, T-Mobile US, Etsy, Spotify Technology

▫️Thursday 7/28
Apple, Amazon.com, Samsung Electronics, Harley-Davidson, Volkswagen Group, Tilray Brands, Vivendi, Altria Group, Roku, Pfizer, Merck, Intel, Mastercard, Southwest Airlines, Honeywell International, Shell, and Northrop Grumman

📢FOMC Countdown update!

Make sure to be alerted as the FOMC meeting will create volatility in all type of markets

Get the link here:
https://www.cmegroup.com/trading/interest-rates/countdown-to-fomc.html

SP500 on the Smart Money Confidence analysis

🔸 The big guys are loading up. Smart money confidence has just entered historically high levels.

BTC Pumped, as Fed released rates data

🔸 As expected, FED hikes were already priced in. As the result, we are pumping today.
🔸 Talking about crucial levels, the key resistance is at $22650, in other words Weekly MA200.
🔸 Buying makes sense only after breaking this level upwards.

On-Chain Update

🔸ETH has surpassed BTC in futures trading volume
🔸This means that Derivative traders playing in the futures market are considering Ethereum more profitable to trade than BTC

ETH active addresses Hits All-Time-High

🔸 Ethereum shattered records Tuesday after an incredible surge in address activity broke its All Time High by a wide margin

🔸 1.06M $ETH addresses made transactions, & the team is still investigating the cause of the +48% increase over the previous record

BTC and Nasdaq Correlation

🔸 $BTC is highly correlated to $NADAQ.
🔸 Nasdaq is already escaping dark red zone.
🔸 IF Nasdaq does escape and holds above, $BTC will follow, fast.
🔸 That would be a 29% Price increase for $BTC

source

1K-10K BTC WALLET are increasing their holdings

🔸 After FED interest rate decision, the 1k-10k $BTC wallets started increasing their reserves, which may explain the 26 July huge stablecoin depositing transactions into the exchanges.

BTC Quick Take

🔸 BTC went back to 24k zones after 10 days. Currently, the price looks struggling to clear the 24k key resistance.
🔸 We can also see that the price in 4h TF is forming a potential double Top pattern (Bearish).
🔸 There is also an imbalance in the 21k-22k zones which could possibly filled at any time.

🟩 Conditions:
🚩 If the bulls could defend the current support, then, BTC should clear the 24k.
🚩 If bears win, the double top will play out and revisit the 21k to fill the imbalance.

BTC Weekly RSI

🔸 After reaching its historical lowest-ever value, BTC Monthly RSI has revisited 2015 and 2018 Bear Market levels.
🔸 Currently, the RSI is bouncing and is approaching at the falling wedge trend resistance. This RSI action is closely similar with the previous run.

Vitalik Buterin says that #Ethereum's
development is only 55% done after the
merge.
At ETHCC, Buterin outlined the 5 main
stages of Ethereum's roadmap.
Here's what they look like:

Retail holders accumulated through the market collapse

🔸 Retail holders’ control of Bitcoin supply grew from 14% to 15.3% during the bear market, with an extra 1.3% unfazed by recent price action

🔸 The data also shows that retail holders are not only participating but are also contributing to the rapid growth of the network. Thus, bitcoin’s adoption continues to grow despite the impact of the bear market.