June 25, 2024

Cryptocurrency market cheered up after large purchase of bitcoins by Alameda Research

Cryptocurrency market cheered up after large purchase of bitcoins by Alameda Research

Elon Musk, as the ruler of thoughts oncryptocurrency market, a competitor has appeared. The head of the FTX crypto derivatives exchange, Sam Bankman-Fried, is so ambitious that he has not ruled out purchasing Goldman Sachs in the future. The belief that this is possible is reinforced by the investment round that took place this week, as a result of which the company was valued at $18 billion. Previously, Bankman-Fried, along with the head of Coinbase, Brian Armstrong, was named by Forbes magazine as the richest people in the industry (not counting, of course, Satoshi Nakamoto, if he still alive). There is money.

On Wednesday, supported by the CEOFTX trading firm Alameda Research“bribed” bitcoins after depreciating to $30,000. A 6% rise to the current $31,500 began at 7:00 Moscow time, when it was just midday in Hong Kong, where the company is based. 

Alameda Research Chief Trader Sam Trabucchiexplained the decision by the end of the FUD wave (repression in China has exhausted itself, the unblocking of the Grayscale Bitcoin trust did not justify existing fears), weak liquidations in the derivatives market (there is no congestion in longs, unlike April-May, the market is positioned bearishly), and the recovery of the Wall Street, where expectations were triggered that next week the Fed would not “get harsh” at its meeting on Wednesday. in formulations regarding the normalization of monetary policy against the backdrop of the spread of the delta strain. 

The moment to buy really turned out to be a good one. Santiment's Social Media Fear and Community Sentiment Index has hit another bottom.

The Word conference kicked off on Wednesday,which will feature Musk, Dorsey, Cathie Wood. The effect in terms of statements could be as loud as after the May event in Miami. Then the market seized on the announcement of the President of El Salvador about the recognition of Bitcoin as a means of payment in this country (a questionable story in fundamental terms, but good in line with PR and for “warming up” retail players). Today, the head of MicroStrategy, Michael Saylor, presented his cheers about BTC. Although this is largely due to the preparation of reporting for the second quarter and the need to explain to shareholders for recent purchases of bitcoins.

We noted earlier that the low fromJune 22 ($28,800), the first cryptocurrency is capable of “surprising” those who have been “short” in recent days. Supporters of technical analysis can see a breakdown of the lower edge of the descending triangle, but what prevents it from becoming false and making the correctional figure more florid in the form of a plane? And so it happened.

Refunds above $ 30,000 complicated things and returned the oddsfor the implementation of the final approach upwards with a repetition of at least the maximum from June 29 ($ 36,600). The Fed may just wait until September with the beginning of specifics in the discussion of the way out of stimuli. In other words, there are chances for a more rosy end of the summer. Further, most likely, inevitably down to $ 20,000. Over the weekend, major players hedged longs with put options with strikes of $ 20,000 and $ 22,000. The ratio of put / call options indicates positive sentiment only with maturities at the end of the year and beyond.