the daily degen 🦍(19oct23)
handle.fi daily trooper update
todays markets
market news
📉dow closes more than 300 points lower as 10-year treasury yield soars to another 16-year high.
👨🏼💻coinbase advanced offers perpetual futures trading to non-US customers.
😥SUI hits all-time low, foundation addresses 'unfounded' token manipulation claims.
💪🏼mike novogratz says a spot bitcoin ETF will be approved in 2023.
⚡lightning labs rolls out 'taproot assets,' to make bitcoin 'multi-asset' network.
crypto fear and greed index
trooperNotes: bitcoin dominance indicator 📚
the bitcoin dominance indicator is a metric that showcases bitcoin's market capitalization as a percentage of the entire cryptocurrency market cap.
essentially, it provides insight into the relative strength of bitcoin compared to all other altcoins. when the bitcoin dominance indicator is high, it suggests that bitcoin is the dominant force in the market, overshadowing other cryptocurrencies. conversely, a decreasing dominance percentage indicates that altcoins are gaining traction and popularity. traders often use this indicator to gauge market sentiment and make strategic decisions. for instance, a rising bitcoin dominance might imply a growing trust in bitcoin, leading some traders to invest more heavily in it. on the other hand, a decreasing dominance could signal a potential altcoin season, prompting traders to diversify their portfolios.
overnight we saw bitcoin dominance reach 52.4%; a level not seen since april 2021.
around the X-verse… (formerly the twitterverse)
nope, not worried 😬…
it’s fine, it’s fine 🔥…
starting to make sense now 🪙…
trade ideas
trade: long XAU/ USD
gold has long been a sought-after asset during global uncertainties, so its price surge amidst the recent israel-hamas conflict isn't unexpected.
over the past two weeks since the conflict's onset, gold's value has risen by 8%, reaching approximately ~1,950. in doing so, it has broken out of it’s negative trend line. this may align both fundamental and technical analyses so a LONG trade could be considered here. a potential target for this trade lies at the notable resistance level of around ~2,070.
#NFA #DYOR
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