Welcome, Crypto enthusiasts!

Bitcoins local bottom is in according to key indicators but some traders are still cautious about the 60K support line.

In Today’s Blockstreet Journal:

• Bitcoin Down Pressure Weakens

• Local Bitcoin Bottom Is Here

• Market Rundown

• Top Gainers & Losers

• Airdrops & More News

Latest News

BITCOIN
👀 Bitcoin Down Pressure Weakens 

Word On The Street: Bitcoin’s price is showing signs of a potential bullish reversal on the weekly charts.

The details:

• Since July, BTC has been forming lower lows, while the weekly Relative Strength Index (RSI) has been forming higher lows.

• This divergence suggests that the downward momentum is weakening and that a potential reversal to the upside could be on the horizon.

• Bitcoin formed a long-legged Doji candlestick pattern last week, which often signals a potential reversal or at least a pause in the trend.

Why it matters: If Bitcoin closes strongly above the flag’s upper trendline, it could trigger a significant rally, potentially pushing the price above $79,000, a new all-time high, in the coming months.

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BITCOIN
🤨 Local Bitcoin Bottom Is Here

Word On The Street: Bitcoin is facing warnings of a potential breakdown this week as the BTC/USD pair forms a "death cross" on its moving averages.

The details:

• The longer-term outlook remains uncertain, with some market indicators suggesting that a sustained rebound could be on the horizon.

• The NVT ratio compares Bitcoin’s market cap to the value of transactions over a specific timeframe.

• This provides a rough guide to identifying local market tops and bottoms. In 2024, the NVT-GC has already produced three bottom signals.

Why it matters: Overall, while short-term bearish signals like the "death cross" are raising concerns, longer-term indicators like the NVT-GC suggest that a positive reversal could be on the horizon.

Market Rundown

Fear & Greed Index

The global crypto market cap is $2.12T, a 0.46% increase over the last day.

The total crypto market volume over the last 24 hours is $79.32B, which makes a 78.08% increase. The total volume in DeFi is currently $3.76B, 4.74% of the total crypto market 24-hour volume. The volume of all stable coins is now $73.21B, which is 92.30% of the total crypto market 24-hour volume.

Bitcoin’s dominance is currently 56.02%, a decrease of 0.43% over the day.

Global Market Metrics

As of the latest update, the cryptocurrency market is experiencing a dynamic phase. Here are the key statistics:

- Total Market Cap: Approximately $2.12 trillion USD

- Total Volume: $79.32 billion USD

- Bitcoin Dominance: 56.02%

- Ethereum Dominance: 15.30%

- Active Cryptocurrencies: 10,065

- DeFi Market Cap: $59.11 billion USD

- DeFi Volume: $3.76 billion USD

- Stablecoin Market Cap: $159.78 billion USD

- Stablecoin Volume: $73.21 billion USD

- Derivatives Volume: $759.73 billion USD

Top Gainers & Losers

🚀 Top Gainers

💩 Top Losers

Airdrops & More News

DAILY AIRDROP
📦️ Meso Finance Airdrop

Meso Finance doesn’t have their own token yet but has launched a points system where users can earn points for interacting with the platform. Supply or borrow assets as wellas complete simple social tasks to earn points. Also, earn more points for each referral. Users who collect points may get an airdrop if they launch their token.

Step-by-Step Guide:

1. Visit the Meso Finance website.

2. Connect your Aptos wallet like Pontem.

3. You will need some APT and/or other tokens on Aptos.

4. Now supply assets to Meso Finance.

5. Also, try to borrow some tokens.

6. You will start earning points for supplying and borrowing on the platform.

7. Go to “Points” and complete on-chain tasks as well as social tasks to earn more points.

8. Also, get more points for inviting your friends.

9. They don’t have a token yet, but users who collect points may get an airdrop if they launch their own token.

Other News

Aleph Zero launches zkOS-powered Ethereum layer 2 mainnet. Aleph Zero’s mainnet launch integrates Arbitrum Orbit technology and zkOS tools to revolutionize blockchain privacy and speed.

Defi Hacks Remain a Major Threat Despite 50% Decline in 2023. The report warns that protocols should improve security by using multi-sig wallets and vetting counterparty code.

Lido community votes to bring stETH to Binance BNB Chain. Lido Finance is the market leader in Ethereum staking, claiming 28.2% of net ETH deposits.

Tether to Fight Celsius' $3.3 Billion 'Shakedown' Litigation. On Friday, Celsius asked a U.S. court to order Tether to relinquish a total of 57,428.64 bitcoin.

🫡 Thanks For Reading

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