💰 Gate.io Daily Topic & Post Event
➡️ #BitcoinStrategicReserveAct#
— On May 7, New Hampshire became the first U.S. state to include Bitcoin in its strategic reserves. The new HB 302 bill allows up to 5% of public funds to be invested in digital assets and precious metals with a market cap over $500B.
Will this boost Bitcoin’s price? Could it set a trend for other states or countries? Share your thoughts!
➡️ #FOMCMeeting#
— The Fed will announce its May rate decision on May 8. Despite pressure to cut, markets expect no change. How do you think this will impact the market?
✍️ Post with #Bitcoin
The Analysis Company has announced bullish altcoins with a lot of Long Accumulation and bearish altcoins with Short Accumulation!
Crypto analysis platform Alphractal has published a new analysis evaluating the current position distribution and price pressures in the market.
According to the report, the real-time Long/Short ratio reflects the instantaneous long ( buying ) and short ( selling ) position behaviors in the exchanges. This ratio stands out as a strong indicator for understanding investors' pressures on the market.
Alphractal describes the current situation as a "war ongoing in the crypto market." While a significant portion of the market is controlled by long positions, another part is under the influence of short positions. Notably, in the evaluation made through funding rates, the cryptocurrency named MAGIC stands out with an extremely negative funding rate. This situation indicates that MAGIC is heavily supported by long-oriented transactions.
Among the top 100 cryptocurrencies, BTC, ETH, BNB and XRP are in a position that slightly supports the long trend; FET, MOVE and OM stand out with negative funding rates. This indicates that there may be accumulated short positions in these assets.
In this context, Bitcoin (BTC) is in a "bull" scenario where long positions are increasing and the price is rising. In contrast, TRX and TON are in a "bear" zone where short positions are increasing and prices are declining.
Many other altcoins are painting a more complex picture: Situations where long positions are increasing while prices are falling, or short positions are increasing while prices are rising, indicate that there is increased uncertainty in the market and a need for careful strategy.