Weekly Analysis 3/18

The INX Digital Company INC | March 18, 2024
8 min read

The digital financial market is evolving rapidly, and we’re here to help you seize new opportunities each week. Stay tuned for exciting updates, and here’s a quick recap of last week’s events.

Weekly Analysis

Charts Show healthy profit-taking causing Bitcoin’s correction. What comes next for crypto?

With Bitcoin smashing through all time high last week, holders have the opportunity to take record-setting levels of profit. While trading in the Bitcoin ETFs was closed for the weekend, the profit-taking caused a cooldown in the Bitcoin price.

At the forefront of this story is the notable increase in short-term holders, or “HODLers,” who have been in the market for less than six months. In just one month, 11% of the Bitcoin supply, or approximately 2 million coins, have been moved from long-term to short-term holders.


As the Profit per Bitcoin chart demonstrates the gap between the current price and the realized price (the average price at which the bitcoins last moved) widened to an all-time $46,000. This divergence signals that a substantial number of investors are capitalizing on Bitcoin’s recent price increase.


A parallel development has been the unprecedented inflow of profit to exchanges, reaching an all-time high of over $3 billion per day.


Underpinning this market activity is the Fear and Greed Index, at 79, which is still in a state of extreme greed that we’ve been in since Feb 27. While this indicates a strong bullish sentiment, history teaches us that markets in such a state for too long may be ripe for a correction.


Another sign that the market remains bullish can be found in the futures open interest, which despite a dip, is still at an absurdly high $33 billion.


Traders are keeping futures positions open despite the $1 billion in long liquidations that suffered in just 2 days last week.


Amidst these developments, the crypto community is closely watching the Bitcoin ETFs, especially how they respond to recent market dips. Last week began with a bang as Bitcoin ETFs crossed the $1 billion threshold in daily inflows. Yet, the initial enthusiasm marked by a surge in net inflows has given way to a more cautious approach towards the end of the week.

A rebound in ETF inflows could signal sustained institutional interest, whereas a continued slowdown might suggest a more cautious stance among these investors.

In conclusion, the Bitcoin market is at a fascinating juncture, marked by a confluence of speculative interest, strategic profit-taking, and intense investor sentiment. As we observe these interplaying factors, the next phase of Bitcoin’s journey will likely be shaped by the collective actions of both retail and institutional players, each responding to and influencing the market’s evolving narrative. As always in the world of cryptocurrency, caution and a keen eye on emerging trends remain the watchwords.

INX On Air

Expert Insights on Ethereum’s Latest Upgrade

Excitement soared as Ethereum’s Dencun upgrade launched, introducing Proto-Danksharding for enhanced scalability. To empower INXers with real-time insights, we hosted an expert talk on X Space featuring smart contract developer David Benchimol, delving into the upgrade’s intricacies. We hope it provided valuable information to all attendees.

Claim $100 Cashback on Women’s History Month

This Women’s History Month, we are empowering women worldwide for financial freedom, and we are thrilled to see you have joined our platform in the past week! We invite you to complete your registration this month, and as a special welcome offer, your trades will earn you $100 cashback to offset trading fees directly into your INX.One account in the form of USD or cryptocurrency. Claim yours now and embark on your journey toward financial empowerment.

Thank you!

HAG Token Now Live: Trade Commission-Free for 30 Days

The HAG token has been launched and is now officially listed and live on INX’s secondary market! To mark this milestone, we’re offering to reimburse your trading commissions for the first 30 days of trading in HAG.* Act now to take advantage of this exclusive offer!

*This does not include gas fees that are incurred as part of the trading

Trucpal’s 3rd Round of Dividends Delivered Straight to Investors

Exciting update! Investors received their third round of Trucpal security token dividends last week, deposited directly into their wallets as USDC. Congratulations on benefiting from this milestone! Stay tuned for more investment opportunities on INX.One as we continue our mission to empower investors like you.

Trading on INX.One

Don’t forget to review the list of primary and secondary security tokens offered on our platform, each representing a different industry and a unique opportunity.

Optimize Your Portfolio

London Calling: Meet Our Team at the Digital Asset Summit

This week, from March 18-20, our COO & Deputy CEO, Itai Avneri, and VP of Capital Markets, Bob Ejodame, will be in London, attending the annual Digital Asset Summit, Crypto’s premier institutional conference. They’ll be discussing options for raising capital or listing your company on a global platform. If you’re in the area, come say hi and learn more.

Your Favorite Tweet

This week, our followers were buzzing about announcement tweets, from Trucpal’s third round of dividends to HAG’s launch on the secondary market. Notably, our followers gave their support to the INX ladies, who shared posts championing women’s financial empowerment. The standout tweet of the week reminded our followers that they can adjust their financial goals even on weekends. With INX.One, seamless trading and investing continue through the weekend.


What’s Trending on INX Academy

INX Academy offers multiple articles and guides to help you better understand this evolving market and the wealth of opportunities it has to offer.

To mark the new Ethereum development, explore INX’s top Ethereum-related guides

INXers on Telegram

INXers, our global INX community on Telegram, engage in lively discussions, recognize trends, share news, and debate critical issues. Each week, we gain insights into their perspectives and preferences through a weekly poll.

Poll of the Week:

With Bitcoin hitting a new All-Time High, what’s your next move?

INXers say:

  • HODL and ride the wave
  • Consider taking profits

The vote is still ongoing.
Join our community on Telegram to cast your vote.

We have a busy week ahead.
Stay tuned for more updates!

The INX Digital Company INC March 18, 2024

The INX Digital Company inc. is an expert in the field of finance, crypto and digital securities.


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