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Roaring Kitty Boasts $85M Unrealized Gains from GME 🙏

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Block Matra
June 04, 2024

Welcome to the Weekly BlockMatra Newsletter, its good to be back. Lets dive in.

Top stories in the last 24 hours:

• Roaring Kitty Sees $85M Unrealized Gains on GameStop.

• Australia's First Spot Bitcoin ETF with Direct Holdings Launches.

• Chart of the day

📅 Today

🔍️ Market Outlook

Overall Bias - Neutral 📈 

Bitcoin held its support at $67,200 so far. As long as we are above that price, things are good, and Bitcoin’s up-trend remains visible. A break of this key level will shift the bias to slightly bearish or real bearish. $70,600 is a key resistance as we aim for new all-time-highs.

BTC dominance rejects from 54.8% while 54.05% is the next support for BTC dominance, some alt-coins are already pump (specially NOT)

Roaring Kitty is back ❗️ 

GameStop (GME) stock surged 21% on Monday after Roaring Kitty (Keith Gill) posted a screenshot on Reddit showing a $175 million investment in the video in the stock.

He is holding 5 million $GME shares and 120,000 call options with a $20 strike price expiring on June 21, according to a screenshot he shared. Despite being $85,460,000 unrealized profit, he has not yet sold any of his position.

As per WSJ reports, E-Trade, the Morgan Stanley-owned brokerage Gill uses, is considering banning him from the platform over potential market manipulation concerns.

The stock closed at $28 today, a 21% increase in a single day.

Australian Bitcoin ETF’s go live today 🙏

Australia's first spot Bitcoin ETF with direct BTC holdings is now live. Monochrome Asset Management launched the Monochrome Bitcoin ETF (IBTC) on Cboe, making it the first of its kind in the country.

Unlike two other crypto exchange-traded products on Cboe Australia, IBTC holds actual bitcoin. It tracks bitcoin's performance in Australian dollars, with the cryptocurrency securely stored in "cold storage" by Coinbase.

📈 Chart of the day

Bitcoin Dominance

  • Logical Reasons :

  • 4H Bearish orderblock

  • 1H Premium Zone

  • 4H Horizontal Resistance

  • 4 bearish divergences on 4H

  • Interpretation : If BTC.D gets rejected as shown in the charts, alts will outperform BTC in the short-term. This means that if BTC remains stable, alts can rise, and if BTC falls, alts could remain relatively stronger and dip lesser than BTC.

  • Note : None of the content in the newsletter is financial advise. This is for educational purposes only.

  • Source : Cointraction

That concludes our update.

We appreciate you joining us for the latest news. Our aim is to provide insights and highlights that keep you well-informed and ready.

You can also Access our free BlockMatra Crypto Research here