Binance Vs Bnb. Новая Функция Metamask. Реорганизация Ftx. Btc - 10 Млн?

In this weekly video review, we dive into the exciting world of the crypto market and the technical analysis of major cryptocurrencies. Get ready for some mind-blowing updates and insights!

A Positive Signal from the US Inflation Data

This week, the US released its inflation data, and it turned out to be lower than expected. The inflation rate stood at 5% compared to the previous month's 6% and the market's expectations of 5.3%. This decline in inflation opens up opportunities for the Federal Reserve to maneuver, potentially avoiding a rate hike in May. The majority of participants still expect a 25-point increase, but many believe this could be the last consecutive hike before a pause. This news is undoubtedly a positive signal for the crypto market, which has already begun to show significant growth. In fact, Bitcoin has broken and solidified its position above the $30,000 mark.

Ethereum's Update and Price Surge

On April 13, Ethereum developers successfully activated the Berlin hard fork, a major upgrade to the network. Users can now withdraw their cryptocurrency from staking, and overall, the update has been smooth and stable. This news has propelled the price of Ethereum above $2,000, with even further gains reaching $2,100. The demand for withdrawals and staking has surged, with over 1.09 million coins waiting to be withdrawn. This sudden spike in demand and potential sales after the update is estimated to be around 170,000 Ether, equivalent to approximately $323 million. While concerns arise about the gradual decline in locked Ether and the continuous inflow of deposits, recent data shows a sharp increase in withdrawals, indicating that pending requests are being fulfilled.

Binance's Token Burn and Metamask's New Crypto Buying Feature

In other news, Binance, one of the largest crypto exchanges, conducted its 23rd quarterly token burn. Over 2 million BNB tokens worth more than $676 million were removed from circulation. This burning strategy, launched in 2017, aims to remove 100 million tokens from circulation.

Metamask, a popular cryptocurrency wallet, has introduced a new feature called "Buy Crypto." Users in 189 countries can now purchase cryptocurrencies using fiat money through decentralized applications. This service supports various payment methods, including debit and credit cards, PayPal, and bank transfers. With support for over 90 tokens on eight different networks, Metamask aims to expand the range of payment options and providers in the future.

FTX's Restructuring and Bitcoin's Potential Rise

FTX, a leading cryptocurrency exchange, is undergoing restructuring with plans to restart its operations. This announcement has resulted in a 90% price surge in the native token, FTT. However, legal challenges and the fate of the company will be determined in a court hearing scheduled for the third quarter of this year. It's worth noting that the current price of FTT is 97% lower than its September 2021 peak.

Interestingly, Bitcoin has surpassed Donald Trump in search queries in the United States, with over 1.9 million Bitcoin-related searches on Google. This shift further emphasizes the growing popularity and influence of Bitcoin.

Technical Analysis and Future Outlook

Now, let's move on to the technical analysis of Bitcoin and Ethereum and assess their potential future movements.

Bitcoin Analysis

On the weekly chart, Bitcoin has broken above the purple range that has been predicted for a long time. With a maximum of $31,000, the candle for this week is likely to close strongly. If we draw a channel from here, the current price is at the upper boundary. Although there is a possibility of correction due to the strong resistance at this level, the overall bullish sentiment remains. It is better to wait for a correction and then enter a long position. The key support level to watch here is around $28,000 to $29,000.

On the 4-hour chart, we can see that the volume is not supporting the price increase. This might indicate an upcoming correction. Traders should be cautious and look for small pullbacks on lower timeframes to enter long positions.

Ethereum Analysis

On the weekly chart, Ethereum has shown an impressive 15% growth in just one week. The candle for this week is expected to close as a strong bullish candle once again. The next significant range to watch is around $2,500, plus or minus. Drawing a channel from the current price shows that there is still room for growth. The sentiment for Ethereum remains overwhelmingly bullish, making it a good time to buy.

On the 4-hour chart, the volume supports the upward movement, indicating continued bullish sentiments. The key level to watch for a pullback is the previous resistance at $2,000, which now becomes support.

The Impact of Options Expiration on Bitcoin's Price

A significant number of Bitcoin options contracts are expiring soon, which can potentially create increased volatility in the market. While the options expiry for Ethereum is much larger in value, Bitcoin's expiry can still have an impact. The maximum pain point, where the highest number of options holders would experience financial losses, is around $29,000. However, the neutral options coefficients suggest that the expiry might not have a strong influence on the market. Despite that, considering Bitcoin's recent surge, it is always wise to be aware of potential corrections.

Conclusion

In conclusion, the crypto market is buzzing with exciting developments and potential opportunities. The US inflation data and Ethereum's successful update have created positive sentiments in the market. Binance's token burn and Metamask's new buying feature further enhance the growth of cryptocurrencies. FTX's restructuring and the surpassing of Donald Trump in search queries underscore the increasing prominence of cryptocurrencies. However, technical analysis suggests caution and the need to be vigilant for potential corrections. With Bitcoin and Ethereum showing bullish signs, it's essential to watch key support levels and monitor market developments to make informed trading decisions. As always, stay tuned for more updates, and happy trading!