#BTC weekly candle close strongly bearish and dropped back lower to support now. Price going though the correction phrase and might dip once again, so need to see a breakout sooner anytime, annotations marked with the charts

#GOLD UPDATE :

#GOLD correctively moved upwards and but failing to sustain above the zone. Price did gave a fakeout, so expecting the drop lower supports around $2300 and $2278.

The Bitcoin network is currently experiencing similar contraction in network activity, albeit, with entirely different drivers. In the following sections, we shall explore how the advent of Inscriptions, Ordinals, BRC-20s, and Runes have significantly altered how on-chain analysts should perceive activity metrics moving forwards.

What Are Second-Layer Solutions?

A set of solutions built on top of a public blockchain to extend its scalability and efficiency, especially for micro-transactions or actions. Layer-2 or second-layer solutions increase the throughput and transactions per second of a blockchain by creating additional blockspace or recording transactions in a more efficient manner. Examples include Plasma, TrueBit, Lightning Network and more.

Why Are Layer-2 Solutions Important?

Layer-1 solutions increase a blockchain's scalability and, therefore, its utility. Without them, blockchains often suffer from congestion, slow transaction speeds and high fees. Layer-2 solutions direct transactions away from the mainnet and towards its cheaper and faster alternatives.

What Are The Most Popular Layer-Two Solutions?

There are several popular layer-2 solutions for blockchains like Bitcoin and Ethereum.

Lightning Network

The Lightning Network is a second-layer solution for the Bitcoin blockchain. It allows for much higher transaction speeds and near-instant settlements of payments at quasi-zero costs. The Lightning Network enables users to open channels between parties, where they can send Bitcoin without settling the transaction on the mainnet. Upon closing the channel, the final state is broadcast to the Bitcoin mainnet.

Optimistic Rollups

Optimistic Rollups are second-layer solutions for the Ethereum blockchain. They process transactions off-chain before publishing a compressed version of the new state of the blockchain to the mainnet. Cryptographic proofs check the accuracy of optimistic rollups. Optimistic rollups greatly reduce gas fees. The Optimism protocol uses them to scale Ethereum.
Learn more in our article How to Use Layer-2 Rollups to Avoid Gas Fees.

ZK-Rollups

Zero-knowledge rollups also reduce gas fees while improving transaction speed. They submit cryptographic proof of the veracity of unprocessed transactions without knowing the content of the transactions. This allows the mainnet to process more data and improve the utility of the blockchain.
Learn more about ZK-rollups in our article What Can Zero-Knowledge Technology Do for Scalability?

Sidechains

Sidechains are separate blockchains that process transactions faster and leverage the security of the main blockchain to secure transactions. An important sidechain layer-2 for Ethereum is the Polygon ecosystem.

#ETH UPDATE :

#ETH cleared liquidity from the lows and move with strong momentum. Price gave the minor structural shift and there it good amount of liquidity siting on the top. Price also moving back and forth from the key resistance area, so eyes on break to the upside.

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Notice of Removal of Margin Trading Pairs - 2024-06-19
https://www.binance.com/en/support/announcement/be3b189044584849b1344fa36baf49a7

#BTC haven't moved anywhere, just damaged the altcoins by sharply moving back and forth with that, price is stuck in between though. Expecting some sort of breakout by wednesday at NY,due to news, else this whole weekend will also go in consolidation, so you can wait for it.

More than $500M+ were liquidated in past 24H and now its $480M+

#US30 UPDATE :

#US30 moving as per the projections and Expecting rejecting the resistance and support too. Price stuck between the zones and now need to eye on the breakouts. Never the less, the breakout will drive the dive either side, so take it accordingly.

Despite the historical confluence between strong market momentum, and an expansion of active addresses and transaction counts per day, a deviation in this trend is underway.

The present monthly average transaction count resides at 617k/day, which is 31% above the yearly average, and signifies a relatively high demand for Bitcoin blockspace.

#ADA tried to hodl the support but failed and given a close below candle. Price got a retest and dumped hard with the market conditions. It a clean shorting opportunity and currently price reached near the support area around $0.35 and could be the next potential area.

#BTC kept on getting lower lows and lows high and broken the support on H4 TF. On Daily TF its clean rejection and now a reversal is expected, to be bullish we need to see a break of trendline and resistance area, which is nearly $67,500.

#TOTAL2 MARKETCAP UPDATE :

#TOTAL2 gave a break below of the support zone with the driving market conditions. Index is right now retesting the zone as resistance and a short term down move might come with that. The Major Support area is around $956B.

The decline in Bitcoin address activity seems to be primarily caused by a reduction in the usage of Inscriptions and Ordinals. It's worth noting that many wallets and protocols in this sector reuse addresses, which are not counted multiple times if an address is active more than once in a day. So, if a single address generates ten transactions in a day, it would be counted as one active address, but with ten transactions.

Here's the Analysis of #BAKE :

#BAKE is been hard falling below the support and heading towards the Strong support zone of $0.34 - $0.35. There's a trendline and lower support around $0.30 - $0.31, which could be potential rejection area. All eyes on the support nothing can be done in between.

#BTC trying to turn the market structure and broken internally, Still, its below the inside the zone moving internally. Hopefully this could lead to a reversal and broke structure too.