Spongebob narxiSPONGE

Roman public latrines looked much like their Greek predecessors: rooms lined with stone or wooden bench seats positioned over a sewer. A tool called a tersorium was “used to clean the buttocks after defecation.” Imagine a loofah, but made of fresh sea sponge, attached to a wooden rod.

Challenge trade | 150$-300$ SHORT | $BTC Entry current market price Total margin 40 TP manual SL manual $guess $rxl $clancy $sponge $dugg $gold $tat $form $sam $tut

Recent months have presented several challenges, including the Mt. Gox coin releases and substantial Bitcoin sales by Germany, which have caused major market uncertainty. These factors led to a sharp decline in Bitcoin prices, despite the S&P 500 reaching new all-time highs. However, a recovery is now underway, driven by key events that may signal the start of a new upward trend.  Analyst Miles Deutscher took to his latest analysis and gave a list of reasons and catalysts which support the above recovery theory:  Ethereum ETFs Launch: The launch of Ethereum ETFs represents a historic development, being the first ETF for an altcoin. This could significantly impact Ethereum’s price and broader altcoin markets, as increased investment in Ethereum often leads to a ripple effect across other altcoins. End of German Bitcoin Sales: Germany’s large-scale Bitcoin sales created initial market pressure, but with this supply now exhausted, the market has found stability.  Impact of Bitcoin ETF Flows: The cumulative flow into Bitcoin spot ETFs has reached an all-time high. Despite a brief retracement in June, demand has surged since then. Bitcoin ETFs have introduced a passive bid into the market, as wealth management firms and individual investors are increasingly allocating funds into Bitcoin through regulated stock markets. Potential Trump Presidency: With Donald Trump emerging as a leading candidate for the U.S. presidential election, the analyst views this as a positive catalyst for cryptocurrency markets.  FTX Repayment to Creditors: The repayment of $16 billion to FTX creditors, including $12 billion in cash, could lead to increased liquidity in the crypto market. Experienced market participants among these creditors may reinvest in altcoins, potentially boosting the altcoin market significantly. Global Liquidity Cycle: The global liquidity cycle is on an upswing, which historically correlates strongly with Bitcoin’s performance. An expansionary phase in this cycle could positively impact Bitcoin’s price as it acts as a liquidity sponge and an inflation hedge.

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