A MOMENT OF CRITICAL DECISION IS COMING FOR THE CRYPTO MARKET

AI as an asset class just getting started, there's a long way to go before that bubble actually tops out. Crypto Traders looking to get positioned for AI and of course Metaverse hype are spoiled for Choice when it comes to AI and Big Data coins. You have the top coins like Render and the Graph all the way down to those low cap YOLO plays and the big push on AI could Even Flow over into an increasing Metaverse narrative. With top coins like Apecoin and the Sandbox being put back in the spotlight or even coins like Wilder world potentially seeing some runoff. There as well further feeling a Metaverse narrative aside from just the Big Data pump, the big processing news. Of course, all that stuff is the launch of Apple's VR AR headset next week. That will require big amounts of data processing, probably going to integrate with a lot of AI Tech as well.

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The total volume situation, this chart shows that total volumes across the cryptocurrency market are super low at the moment. In fact, we're right back to the kind of lows that we last saw in December 2022. Simply having low volume does not mean that a new crypto rally is coming around the corner. Although, it potentially could mean that but what this really represents is a moment of critical decision is coming for the market. Everyone's waiting, it's one of these periods with low volatility. We do have one thing that is certain periods of low volatility do not last forever.

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Bitcoin has also seen another choppy week trading near the bottom of the range and we came very close to a daily MACD Bowl cross also for which was rejected unfortunately at the last second. Two areas of interest for me right now with Bitcoin, the 200-day exponential moving average is the blue line at $25,000 of a buy order at $24,100. There are some chart showing that in none of the three previous Bitcoin Cycles has Bitcoin put in a new low within the 12 months before the Bitcoin halving. The low always came in earlier usually around around 18 months before the Bitcoin halving. That's interesting data but will history repeat? We do not know yet, I guess we will find out.

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There is a chart on Glassnode that shows the last three epochs for Bitcoin and the exchange balances of Bitcoin since the Bitcoin halving's. It's on Epoch number two we saw 1.02 million more BTC go on to exchanges Epoch three saw 1.973 million Bitcoin flow into exchanges. Epoch 4 that's we're in right now our current one has seen 680,000 BTC leave exchanges. This time is different technically, supply has been falling steadily during the bear Market as new users enter the market. Remember, we just passed a million wallets with one Bitcoin or more last week. There's been a buying frenzy during this bear Market which is fascinating behavior. Also, we all have to compete with Black Rock, Fidelity, family offices, big companies, and Tethers buying tens of millions a month.