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- ⬆️ BTC Enters 'Aggressive Accumulation' Phase
⬆️ BTC Enters 'Aggressive Accumulation' Phase
PLUS, 8 cool features of Aave's upcoming savings app.
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Our terminally online souls were left hanging out to dry amidst the Cloudflare outage today.
I was uploading the bulletin on Spotify when the saga unfolded. For some reason, I was mad at my internet for not making the episode reflect on the front-end faster. Saw my phone screen buzz with a message saying, “Twitter is down Lav!” That’s when it dawned upon me that we’re in the midst of some mashup mass outage.
Classic centralized tech shenanigans.
Nevertheless, Bitcoin and the overall crypto market has continued to dip, breaching notable support zones.
Over the past 24 hours alone, around 184,213 traders were rekt with the total liquidations coming in at $1.02 billion.
There’s some good news though. Folks have started buying the dip.
Interestingly, this isn’t just the regular accumulation. As CryptoQuant puts it,
“The biggest BTC accumulation” is what is ongoing behind the scenes of the downtrend on the chart.
Short-term sentiment might be capitulating, but long-term capital is “stepping in aggressively.”
👇 And if you haven’t yet, hit subscribe below 👇
The important bits.
Magic Labs is set to bring Newton Protocol to its 200K developers and 50M wallets. Other November updates are summed up here.
A quick video walkthrough of Kyan, watch here.
All you need to know about Almanak’s v1 Strategy Builder, read here.
Plasma is now available via zerohash on Public, deets here.
Even more important bits.
El Salvador announces largest single-day BTC purchase of $100 million amidst dip, read here.
BitMEX co-founder Arthur Hayes sees BTC potentially sliding to $80k–$85k in the near term, read here.
Lloyds Banking Group signs £120 million deal to acquire digital wallet provider Curve, read here.
Mt. Gox moves $956 million BTC to an unmarked wallet address, read here.
Bitcoin flashes a death cross: Crash incoming or bottom signal? read here.
Charts and stats of the day.
Major cryptocurrencies enter the “extreme opportunity buy zone” - chart here.
Onchain activity falls further this week - stats here.
Solana active addresses drop to 12-month low - chart here.
ICYMI.
Today’s bulletin:
Telemetry data of the day.
Top trending tokens for the last 24h:
If you want to access more of this type of data and trade freshly graduated tokens on PumpFun or Bonk, visit Telemetry here (it’s free).
Life may have 99 problems, but looks the one that we stress the most about might just vanish.
Aave just announced the launch of its upcoming savings app. Few really cool features:
It’s gonna offer interest rates upto 9%
You’ll have insurance-backed protection on deposits up to $1 million. Mind you, the industry standard is around $250k
Over 12,000 bank cards will be supported for transfers
The app will have an opt-in biometric recovery solution, just in case you lose your password
The withdrawal whitelist feature will shield you from fat finger errors - it’ll permit transfers only to approved addresses
In traditional savings accounts, interest is usually added on a monthly basis, but here, it’ll happen every second, and the fresh interest will be calculated on the aggregate amounted
No minimum deposits, you can start with as little as $0.01
Also, no recurring subscription fees, no AUM fees, no deposit/withdrawal fees on transfers to/from bank accounts
We’ve been chained long-enough to TradFi institutions and their way of doing things. It’s high time to move on. I’d say go get yourself on the waitlist if you’re eligible.
To save you doom scrolling.
I mean…
Whenever the accumulation trend picks up, we’ve seen the price stabilize for a while and then slowly pick up. But analysts say, “something is broken” this time.
Data shows that since October 6, demand from permanent holders has surged from 159K BTC to 345K BTC. That’s the largest absorption we’ve seen in recent cycles. Yet instead of a rally, price has moved sharply lower.
But but but,
“This divergence rarely lasts long, and when it resolves, it tends to resolve with force.”
We obviously can’t expect things to get back to normal within the snap of a finger. If there’s one thing that I’ve learned over the years - it’s patience. The market will sort itself out eventually. We just gotta stay steady with our guards up meanwhile.
Lavina, Edyme 🫡
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