OVERIEW

Bulls Breaking Out?

Crypto’s total market cap clawed back the $2.5 trillion level, Bitcoin is back at the $71k value area, and Ethereum has reclaimed $3.6k. 👽

In today’s Litepaper, we’re looking at what tickers were trending on Stocktwits today, the percentage of short liquidations, and three charts that look close to experiencing their bullish breakouts: Ocean Protocol, COTI, and The Sandbox.

Also on deck: A community highlight, Sentiment Data, and crypto news in three sentences.

Here's how the market looked at the end of the trading day:  

STOCKTWITS
Trending Tickers

Here’s a collection of what’s trending on the Stocktwits app and cryptotwitter, or cryptoX (formerly cryptotwitter) or whatever it’s called now:

Kryll ($KRL), TokenFi ($TOKEN), Vaiot ($VAIOT), Celo ($CGLD), Travala ($AVA), Aerodrome Finance ($AERO), ONDO ($ONDO), POOH ($POOH), Bitcoin ($BTC), Shiba Inu ($SHIB), Internet Computer Protocol ($ICP)

NEWS
Shorts Liquidations All Over

The percentage of liquidations across crypto derivative platforms is staggering. Take a look 👀

While the liquidations aren’t in the billions as we’ve seen in weeks/months past, the percentage is massive. 😱

STOCKTWITS
Community & Sentiment

Great $BTC chart here by Stocktwits user @SunAndStorm! 👍

There are some Stocktwits community members who use the Social and Sentiment Data as a powerful tool in their analysis and traders/investors toolbox.

In Bitcoin’s case, the interpretation is that because Sentiment is down and Message Volume is lower, but prices are rising, both Sentiment and Message Volume will likely catch up to price and add more momentum to Bitcoin’s already strong rally. 🟩

TRADING
Technically Speaking

In last Friday’s Litepaper, we examined five charts showing signs of imminent breakouts: $DOGE, $LINK, $ALGO, $ICP, and $FET.

At the time of writing, DOGE is up +13.85%, ALGO +5.09%, and ICP +13.63%. While LINK and FET are up, LINK hasn’t entered the bulls’ entry zone, and FET is testing its entry zone today.

Let’s look at some others:

The Sandbox

Bulls are waiting for a daily close that puts the Chikou Span in open space - a condition where the Chikou Span won’t intercept the body of any candlestick over the next five to ten periods. If $SAND can pull off a daily close at or above $0.691 would fulfill what bulls are looking for.

Coti

Like SAND’s daily chart, $COTI’s daily chart shows it creeping toward a bullish breakout and a possible resumption of the uptrend. A daily close at or above $0.253 would put the Chikou Span in open space and fulfill what many Ichimoku analysts and traders are waiting for.

Ocean Protocol

$OCEAN is one of the big AI plays in crypto right now. And Ocean’s daily chart needs the same Ichimoku condition to occur before bulls might dive in: the Chikou Span in open space. A close above $1.183 would fulfill the open space requirement.

STOCKTWITS AD-FREE
Enjoy An Ad-Free Stocktwits Experience 👀

Stay focused on your trading with Stocktwits Ad-Free. The streamlined experience fully immerses you in real-time discussions, breaking news, and expert insights.

NEWS
News In Three Sentences - March 25, 2024

🔒 Do Kwon's Legal Limbo Continues Amid Extradition Halt: Do Kwon's extradition to South Korea or the US is stalled, as he now resides in a Montenegrin illegal migrant center, caught in a tangle of legal delays. Despite previous denials of appeals and confiscation of his travel documents, his fate remains undecided due to ongoing legal wrangling within Montenegro's government. Protos has more

📈 LSE Greenlights Crypto ETNs, Setting Stage for Mainstream Adoption: The London Stock Exchange (LSE) is set to welcome Bitcoin and Ethereum Exchange Traded Notes (ETNs). After the UK's Financial Conduct Authority gives the nod, they'll open up starting May 28, 2024. More from BitcoinSistemi

💼 FTX's Strategic Anthropic Share Sale Boosts FTT Token: FTX's estate secured a lucrative $884 million deal by selling its Anthropic shares to institutional investors, with Abu Dhabi's sovereign wealth fund leading the purchase. Amidst the AI hype, FTX's initial $500 million investment in Anthropic now yields a substantial return. From CoinDesk

🛠️ Ripple Addresses XRP Ledger Glitch, Urges Caution Among Users: RippleX reveals a glitch in the XRP Ledger's AMM pool, disrupting transactions and prompting immediate corrective measures. Ripple CTO David Schwartz clarifies that the problem didn't stem from the AMM's single-sided deposit feature but advises users against further deposits until resolved. Despite the hiccup, XRP's value remains resilient, underlining Ripple's quick response and the robustness of its underlying technology. ZyCrypto has more

⚖️ Terraform Labs Navigates SEC's Legal Gauntlet Over TerraUSD Collapse: Speaking of Do Kwon, Terraform Labs faces a pivotal trial in New York. The trial will tackle SEC allegations of fraud linked to TerraUSD's downfall, which has profound implications for crypto regulation. As Terraform contests SEC oversight, the trial could redefine the legal landscape for crypto entities and their accountability. More from CoinSpeaker

Links That Don’t Suck

😫 Crypto Market Records First Outflow in 7 Weeks Worth $942M

⤵️ CommEX shuts down after purchasing Russian Binance operations

👇 Nigeria accuses Binance of tax evasion while an executive escapes custody

🐶 Trump Meme Coins Fall as Former President Gets Fraud Bond Reduced to $175M

🪙 Bitcoin CEX trading volume hits record high in March

😡 Revealed: a California city is training AI to spot homeless encampments

Get In Touch

Follow our social channels for great, real-time content on Stocktwits and Twitter. And check out our YouTube channel for in-depth video content! 📲

Help us deliver the best content possible by completing this brief survey. 📝

Email me (Jonathan Morgan) your feedback; I’d love to hear from you. 📧

Want to sponsor this newsletter and reach hundreds of thousands of crypto enthusiasts? Reach us here. 👍

Disclaimer: Content, news, research, tools, and securities symbols are for educational and illustrative purposes only and do not imply a recommendation or solicitation to buy or sell a particular security or to engage in any particular investment strategy. Read the full terms & conditions here. 🔍