$555.9 Million BTC Bought In 1 Day: Sounds Bearish?

PLUS Hyperliquid TGE is coming!

October 15, 2024

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GM to the Bulls.

Just yesterday, Bitcoin reached the magnificent $66,000 mark, just as the BTC ETFs saw one of their largest daily inflows of $555.9 million. Safe to say, we’re stepping into a bullish inning in this cycle. Ethereum, meanwhile, only pulled in $17 million in net inflows—not much, but still better than the flatline zeroes we’ve seen in recent weeks.

The ETH/BTC chart continues to look abysmal, but there`s always a good chance for a swift reversal (or at least a pity bounce in this case), especially as Larry Fink himself tries to revive it by shilling Ethereum in the media again.

Not much to say about prices these days—they’re looking good across the board even in face of today`s minor dips. So, let’s take a look at some other active sectors.

For instance, the Base chain is seeing a nice revival as of late, even flipping Binance chain in volume.

Another area to focus on might be the Bitcoin Ordinals ecosystem, especially runes. One of the best picks lately was the new Gizmo cat, closely tied to the Bitcoin Puppets community. If you’re looking for a table of the top Runes, done Murad-style in rankings, I’d recommend this one.

Third one brings us right in the Degen Corner…

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BTCUSD 3D Coinbase

Bitcoin looks like it wants to squeeze up here. Note the BBW squeeze indicator bands at the bottom of the chart. The first big bar flagged the move from 27k to 49k and the second from 43k to 74k. Now we have another big squeeze bar in the making.

Price is trapped between the big reclaimed 63k level and above it another big volume node at 67k, which has confluence with the downtrend line. This kind of compression makes for potentially explosive price action.

Combined with huge ETF buys (556 BTC yesterday), you have the makings of another big run to the upside. Long / short accounts on Coinalyze have also reset close to 1:1, which has been a reliable forward-looking indicator for big runs to the upside.

NFA as per usual, please always do your own research.

Come by the Lucky Luke Discord channel for comments, to roast my picks or to pump your own bags. All banter is welcome any time!

Hyperliquid Airdrop is Finally Happening

The long-awaited Hyperliquid TGE is nearing. HyperFoundation just released their airdrop participation application. If you have been grinding and stacking points with us since the beginning, I think you will be pleased about what comes next.

Upon approving your allocation, though, you will be faced with a choice: either you choose only HYPE tokens or HYPE tokens along with a Purr NFT. 

Will tokens be locked up, or will they vest for those who chose the NFT, as Crypto Condom speculates here? It's hard to say as of now, but we`ll watch all the updates for you as we go.

The important bits.

  • Peapods Finance (DeFi) - Explains how you can earn 25% fully sustainable passive income yield on USDC

  • Core DAO (Bitcoin DeFi) - Launches ‘Core Commit Program’ offering devs funding and access to 100+ VCs

  • Radix (DeFi) - SRWA lending and borrowing now live on Radix

  • GenLayer (AI L1) - Explains how GenLayer can make DAOs fully autonomous

  • Puffer Finance (LRT) - Launched PUFFER token

  • Hyperliquid (L1) - Spot coin deployment changes and more updates before TGE

  • AEVO (DeFi) - Adds MOG perpetuals 

  • Sonic (L1) - Released new litepaper

  • SUI (L1) - Explains the infrastructure partner's $400m SUI token selling

  • Move (L1) - Announces a $20M fund for Move-based blockchain innovation

Even more important bits.

Stats and Charts of the day.

Life gets busy so here’s what you’ve missed.

Doxxed miners are TAO-pilled

TAO Talk

Episode 7 of TAO Talk is live now | Bittensor miners emerge from the shadows...

Subscribe to the new Tao Talk channels →

To save you doom scrolling.

We all already understand cults. Are Culty Tech Coins the next phase?


With every slight dip causing bears to come out of their caves and start shouting about the next retracement, and with every meme-hating thread that pops up on the timeline, I can`t help but to get even more bullish.

But that`s just me, you do you, my friends.

stay safe homies,

Hix0n 🫡

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