ReportWire

Tag: crypto news

  • Santiment Highlights Top Tokens: Bitcoin, Ethereum, And Dogecoin Dominate Social Buzz

    [ad_1]

    Conversations across the crypto space are circling back to blue-chip tokens, with Bitcoin, Ethereum, and Dogecoin taking the spotlight. Data from on-chain analytics platform Santiment shows that top market cap cryptocurrencies are dominating the surge in social chatter, with discussions ranging from institutional adoption and ETF speculation to technical barriers and ecosystem growth. Alongside them, Strategy, Tether, and MultiversX are also attracting strong attention.

    Related Reading

    Bitcoin And Ethereum Dominating Attention

    Despite price resistance at $112,000 throughout last week, Bitcoin is still the most closely watched cryptocurrency by analysts and investors. According to on-chain analytics platform Santiment, Bitcoin is currently dominating among crypto investors thanks to extensive discussions about its long-term role as digital gold, a monetary network, and a hedge against inflation. Conversations focus heavily on its scarcity, institutional demand, and the importance of self-custody. Traders are also discussing Bitcoin’s liquidity in flash crypto offers that allow instant trading and spending across multiple platforms. 

    Ethereum is trending, with mentions also tied to its role in flash tokens and its utility across wallets and decentralized platforms. ETH discussions are based on its transferability and use in trading, staking, and gaming, while institutions continue to accumulate large volumes. However, the Ethereum price is also facing technical struggles in breaking above $4,500, having been rejected at $4,480 multiple times in the past seven days.

    BTCUSD currently trading at $111,170. Chart: TradingView

    Strategy And Dogecoin Also Generate Social Buzz

    Strategy’s and its MicroStrategy ($MSTR) stock are also hot topics due to the company’s massive Bitcoin reserves and its reputation as a leveraged proxy for BTC exposure. Particularly, market chatter has picked up around its potential inclusion in the S&P 500, which could cause institutional buying and fund inflows. At the same time, discussions show that investors are debating whether MSTR shares or Bitcoin ETFs provide better exposure.

    Unsurprisingly, the word “Dogecoin” is in the limelight due to multiple developments last week. Most of Dogecoin’s mentions are based on the upcoming Rex-Osprey Dogecoin ETF, which could become a historic first for Dogecoin ETFs in the US financial market. Furthermore, Trump-backed company Thumzup is expanding Dogecoin mining operations by adding 3,500 rigs. Despite choppy price action last week, Dogecoin managed to close above $0.21.

    Tether ($USDT) also saw huge mentions last week after the company announced deeper investments into gold, with its reserves now exceeding $8.7 billion. The company aims to expand into mining, refining, and trading, with its CEO calling gold a natural bitcoin. Additionally, new token listings related to Tether are appearing on platforms like BitMart.

    Related Reading

    MultiversX ($EGLD), meanwhile, is facing a different kind of attention. Social discussions highlight concerns about dilution of its supply and the migration of projects to other chains like SUI, raising doubts about long-term use cases. However, there’s optimism on projects such as xPortal and xMoney, with hopes that buyback mechanisms and upcoming launches could bolster value. 

    Featured image from Unsplash, chart from TradingView

    [ad_2]

    Scott Matherson

    Source link

  • Crypto To Overtake The Dollar? Ray Dalio Flags End Of Debt Cycle

    [ad_1]

    Reason to trust

    Strict editorial policy that focuses on accuracy, relevance, and impartiality

    Created by industry experts and meticulously reviewed

    The highest standards in reporting and publishing

    Strict editorial policy that focuses on accuracy, relevance, and impartiality

    Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

    Crypto sits at the heart of Ray Dalio’s new message. On September 3, 2025, the Bridgewater Associates founder published a point-by-point rebuttal to what he called the Financial Times’ “mischaracterizations,” releasing the full written Q&A he says he provided to the paper. The exchange restates his “Big Debt Cycle” framework and argues that rising US debt burdens, risks to Federal Reserve independence, and mounting geopolitical fractures are eroding the dollar’s role as a store of wealth—conditions that he says are boosting gold and crypto.

    Why Crypto Is An “An Attractive Alternative”

    Dalio frames the US fiscal position as late-cycle and dangerously self-reinforcing. “The great excesses that are now projected as a result of the new budget will likely cause a debt-induced heart-attack in the relatively near future—I’d say three years, give or take a year or two,” he wrote. He quantified the near-term squeeze in stark terms, citing “about $1 trillion a year in interest” and “about $9 trillion needed to roll over the debt,” alongside roughly “$7 trillion” in spending versus “$5 trillion” in revenues, requiring “an additional roughly $2 trillion in debt.” That expanding supply, he argued, collides with weakening demand when investors question whether bonds “are good storeholds of wealth.”

    Related Reading

    The fulcrum, in Dalio’s telling, is now the Federal Reserve. If political pressure undermines the central bank’s independence, he warned, “we will see an unhealthy decline in the value of money.” Should a “politically weakened Fed” allow inflation to “run hot,” the consequence would be that “bonds and the dollar [go] down in value” and, if not remedied, becoming “an ineffective storehold of wealth and the breaking down of the monetary order as we know it.” He linked this to a broader late-cycle pattern: foreign holders “reducing their holdings of US bonds and increasing their holdings of gold due to geopolitical worries,” which he called “classically symptomatic” of the endgame.

    Dalio connected the macro and political strands to a more interventionist policy backdrop, referencing actions “to take control of what businesses do” and likening the current phase to the 1928–1938 period. He did not pin the dynamic on a single administration—“this situation has been going on for a long time under presidents from both parties”—but said post-2008 and especially post-2020 policies accelerated it. “The interaction of these five forces will lead to huge and unimaginable changes over the next 5 years,” he added, listing debt, domestic politics, geopolitics, acts of nature, and technology (with AI most important) as the drivers.

    Within that late-cycle schema, Dalio placed crypto squarely in the “hard currency” bucket. “Crypto is now an alternative currency that has its supply limited,” he wrote. “If the supply of dollar money rises and/or the demand for it falls, that would likely make crypto an attractive alternative currency.” He tied the recent “rises in gold and cryptocurrency prices” to “reserve currency governments’ bad debt situations,” and reiterated his long-running focus on “storeholds of wealth.”

    Related Reading

    On whether crypto could “meaningfully replace the dollar,” he emphasized mechanics over labels, noting that “most fiat currencies, especially those with large debts, will have problems being effective storeholds of wealth and will go down in value relative to hard currencies,” a pattern he said echoed the 1930–1940 and 1970–1980 episodes.

    Dalio addressed crypto stablecoin risk in that context, separating asset price drawdowns from systemic fragility: “I don’t think so,” he said when asked if stablecoins’ Treasury exposure is a systemic risk, adding that “a fall in the real purchasing power of Treasuries” is the real hazard—mitigated “if they are well-regulated.” He also rejected the notion that deregulation alone threatens the dollar’s reserve status: “No,” he said, pointing again to debt dynamics as the primary vulnerability.

    Dalio’s latest remarks fit within a decade-long evolution of his public stance on Bitcoin and crypto rather than a whiplash reversal. Early on, he emphasized gold as the superior “storehold of wealth” and warned that if Bitcoin ever became too successful, governments might restrict it—tempering enthusiasm with regulatory risk.

    By 2020–2021 he began calling Bitcoin “one hell of an invention,” acknowledged owning a small amount, and increasingly framed it as a portfolio diversifier that rhymes with digital gold, while still stressing its volatility and policy sensitivities. With his latest remarks, Dalio puts the entire crypto market inside the monetary hierarchy he uses to analyze late-cycle dynamics.

    At press time, the total crypto market cap stood at $3.79 trillion.

    Total crypto market cap
    Crypto market cap, 1-week chart | Source: TOTAL on TradingView.com

    Featured image created with DALL.E, chart from TradingView.com

    [ad_2]

    Jake Simmons

    Source link

  • ETH And BTC ETFs Reverse Gains With $291M In Outflows Ahead Of New Week

    [ad_1]

    US-based crypto ETFs have witnessed a change in dynamics in August, which has seen inflows tipping towards Ethereum ETFs. However, last week’s trend of strong inflows ended with substantial outflows on Friday, with Ethereum ETFs leading the retreat with $164.64 million and Bitcoin ETFs following with $126.64 million. This sudden reversal coincides with an interesting timing of stubborn inflation data that seems to have rattled institutional investors.

    Related Reading

    A Sudden Reversal At Week’s End

    According to data from Farside Investors, US-based Spot Ethereum ETFs ended the week with $164.64 million in outflows. The outflows came from Fidelity’s FETH with $51 million, Bitwise’s ETHW with $23.7 million, Grayscale’s ETHE with $28.6 million, and Grayscale’s ETH with $61.3 million. BlackRock, on the other hand, witnessed neither inflows nor outflows into its Spot ETH ETFs, alongside 21Shares, VanEck, Invesco, and Franklin Templeton Ethereum ETFs.

    Friday’s outflows were a jarring departure from the steady gain that had defined Ethereum’s Spot ETFs since August 21. Ethereum’s six-day inflow streak, which had added about $1.876 billion, was brought to an abrupt end with the outflows on Friday. As a result, total assets under management for Spot Ethereum ETFs dipped to $28.58 billion.

    Ethereum ETF Flow: Farside Investors

    Meanwhile, Spot Bitcoin ETFs also recorded their first daily decline since August 22 with $126.64 million in outflows on Friday. As a result, their total assets under management dropped to $139.95 billion.

    However, not every issuer felt the pressure with Bitcoin. Fidelity’s FBTC led the exodus with $66.2 million, followed by ARKB’s $72.07 million and GBTC’s $15.3 million in outflows. On the other hand, BlackRock’s IBIT still managed $24.63 million in inflows and WisdomTree’s BTCW drew in $2.3 million amid the wider outflows. 

    Bitcoin ETF Flow: Farside Investors

    The underlying cause of the outflows can be attributed to investors digesting the latest data on inflation released on Friday. Notably, the US core Personal Consumption Expenditures (PCE) index climbed 2.9% year-over-year in July, the fastest pace since February, creating fears that the Federal Reserve may hold off on rate cuts.

    What May Lie Ahead This Week

    As a new trading week begins, Spot ETF flow in both Ethereum and Bitcoin is likely to depend on how investors continue to interpret the data. If inflation pressures persist, institutional investors may retreat further at the beginning of the week. However, any signs of cooling could see inflows resume mid-week, particularly into Ethereum, where fundamentals are currently favorable.

    On the price side of things, Bitcoin’s hold above the $108,000 price may offer some relief. However, it needs to stay above $110,000 in order for any upside move to gain momentum. At the time of writing, Bitcoin is trading at $109,910.

    Related Reading

    For Ethereum, a daily close above $4,500 could confirm the return of bullish confidence, whereas a slide below $4,400 might signal further weakness. At the time of writing, Ethereum is trading at $4,470, up by 1.7% in the past 24 hours.

    Featured image from Unsplash, chart from TradingView

    [ad_2]

    Scott Matherson

    Source link

  • Crypto Tumbles Hard: Google Search Trends Call Last Local Market Top

    [ad_1]

    The crypto market succumbed to a significant amount of bearish pressure starting on Thursday, August 28, with most large-cap assets tumbling to new lows on Friday, August 29. The price of Bitcoin, the world’s largest cryptocurrency by market capitalization, fell to a new low of $107,850 at the start of the weekend.

    Unsurprisingly, the latest data shows that this latest price decline seen across the digital asset market could have been predicted. This conclusion is based on recent crypto activity on the world’s largest search engine, Google.

    Is The Crypto Bull Cycle Over?

    In an August 29 post on social media platform X, Alphractal founder and CEO Joao Wedson revealed that crypto-related searches on Google have surged to new highs in recent days. According to the on-chain data expert, this recent spike in Google searches suggests that Bitcoin and the broader crypto market might have reached a new local top.

    Related Reading

    This revelation is based on the Google Trends chart, which allows investors to assess the social engagement of different crypto-related topics on the search engine. As shown in the chart below, the metric compares various subjects, including cryptocurrency, Bitcoin, altcoins, centralized exchanges, and data aggregation platforms.

    Source: @joao_wedson on X

    As observed in the highlighted chart, the Google Trends metric recently witnessed a significant surge, suggesting increased public attention across multiple crypto topics. According to Wedson, spikes of this kind have historically coincided with whales entering the market to sell while “everyone is obsessed.”

    Moreover, the cryptocurrency market has often shown in the past its tendency to move in the crowd’s opposite direction. These trends explain the price decline witnessed by most digital assets in the past few days, as the market has seemingly reached a new local top.

    Wedson, however, noted that other on-chain signals say that the latest euphoria-driven market downturn doesn’t necessarily spell the end of the current bull cycle. “Think back to BTC hitting $124K—euphoria peaked online, whales sold aggressively, and we went short,” the Alphractal founder added.

    Wedson then advised investors to exercise caution when euphoria hits the crypto market, as it could hint at the imminence of a local top. The crypto analyst said that a better strategy would be to smartly exit the market at a high price and reenter at a cheaper rate later.

    Total Crypto Market Cap At $3.7 Trillion

    As of this writing, the total crypto market capitalization sits just above $3.7 trillion, reflecting an almost 4% decline in the past day. According to data from TradingView, more than $142 billion has been drained out of the crypto market in the last 24 hours.

    Related Reading

    crypto
    The total crypto market cap on the daily timeframe | Source: TOTAL chart on TradingView

    Featured image from Shutterstock, chart from TradingView

    [ad_2]

    Opeyemi Sule

    Source link

  • Over 100 Crypto Companies Join Forces To Protect DeFi In Market Structure Bill

    [ad_1]

    Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies.

    Ronaldo’s journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology.

    Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry.

    One of Ronaldo’s defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision.

    Ronaldo’s commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo’s writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities.

    Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth.

    However, Ronaldo’s aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape.

    Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge.

    With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.

    [ad_2]

    Ronaldo Marquez

    Source link

  • LINK Price Climbs Following Chainlink’s Deal With US Commerce Department, Eyes $30

    [ad_1]

    Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies.

    Ronaldo’s journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology.

    Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry.

    One of Ronaldo’s defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision.

    Ronaldo’s commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo’s writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities.

    Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth.

    However, Ronaldo’s aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape.

    Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge.

    With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.

    [ad_2]

    Ronaldo Marquez

    Source link

  • What’s Next For Bitcoin? Key Developments After Falling To $112,000

    [ad_1]

    The market’s leading cryptocurrency, Bitcoin (BTC), has recently attempted to stabilize around $112,000 after experiencing a sharp decline to $110,000 on Sunday, meaning a 10% drop from all-time high (ATH) levels. 

    Ahead of the Federal Reserve’s (Fed) September meeting, market expert Doctor Profit highlighted on X (formerly Twitter) the upcoming implications and the most important technical indicators that paint a bleak picture for Bitcoin (BTC) and the broader market.

    Fed Rate Cut To Trigger A New Market Correction?

    Doctor Profit emphasized that the current market environment is markedly different from previous cycles. He believes that the anticipated rate cut by the Fed next month could initiate a robust correction in both stocks and cryptocurrencies. 

    According to him, the first significant cut typically brings uncertainty, leading to divergent opinions among investors, and he predicts that this time will be no exception. 

    Related Reading

    Turning to Bitcoin’s technical indicators, the outlook appears bearish. The expert noted a substantial Chicago Mercantile Exchange (CME) gap around the $93,000 mark that needs addressing, with most liquidity concentrated in the $90,000 to $95,000 range. 

    Key levels for Bitcoin in case of a new correction below $100,000. Source: DoctorProfit on X

    The charts indicate a potential correction, highlighted by a double top formation and declining trading volume. Notably, Doctor Profit has asserted that the last price surge that saw BTC reach $124,000, was largely driven by futures rather than spot market activity, reinforcing the bearish sentiment.

    Bitcoin Price Forecast

    Market psychology plays a crucial role in this analysis. On-chain metrics and sentiment indicators reveal that retail investors often buy high and sell low. 

    The expert disclosed that during Bitcoin’s last dip from $110,000 to $98,000 between May and June of this year, it was primarily institutional investors who capitalized on the lower prices, while retail buyers missed out. 

    As prices climbed, retail investors entered the market at higher levels, Doctor Profit added, which could lead to a shakeout as Bitcoin approaches the critical liquidation zone of $90,000 to $95,000.

    Related Reading

    Beyond Bitcoin’s price action, Doctor Profit warns that the current market sentiment reflects a false sense of optimism, suggesting that the prevalent belief in a sustained altcoin season is misguided. He cautions that as enthusiasm grows, larger players may begin to offload their positions, leaving retail investors exposed.

    Looking ahead, he forecasts a potential surge in Bitcoin prices towards $145,000 to $150,000, which could potentially mean a  34% increase from current levels. The expert also expects Ethereum (ETH) to reach between $7,000 and $8,000 following the September correction.

    Bitcoin
    The daily chart shows BTC’s 10% price retrace. Source: BTCUSDT on TradingView.com

    When writing, Bitcoin trades at $112,560, recording a 6% drop in the fourteen-days time frame. Ethereum on the other hand, has continuously positioned among the market’s top performers with a 5% surge during the same period.  

    Featured image from DALL-E, chart from TradingView.com 

    [ad_2]

    Ronaldo Marquez

    Source link

  • Analyst Says Dogecoin Price Is Entering Expansion Phase – Here’s What It Means

    [ad_1]

    According to crypto analyst Cas Abbé, Dogecoin’s current movement suggests it is stepping into a new expansion phase after an extended period of accumulation. This development comes after months of relatively muted sentiment with strong price support, which now appears to be forming the groundwork for another strong breakout. Notably, technical analysis of various charts tracking Dogecoin’s hash rate, CVDD levels, alpha pricing, and network stress index provides context to this technical outlook, which might see Dogecoin surge to new price highs.

    Signs Of An Expansion Phase In Dogecoin

    Taking to the social media platform X, crypto analyst Cas Abbé explained a few reasons as to why the Dogecoin price is about to enter into an expansion phase. The first being that Dogecoin has been trading inside a wide accumulation range in the past few months. This base has been at the $0.20 price level since the beginning of August.

    This type of prolonged base-building is mostly always known to precede sharp upward moves, as it reflects the gradual buildup of strong demand. Furthermore, the analyst noted that the current breakout attempts are backed by rising trading volume, which he interpreted as institutional accumulation. This is unlike past Dogecoin bull cycles, which were mostly based on retail hype.

    Technical momentum indicators such as the Relative Strength Index (RSI) are currently in a mid-range position, and this means that Dogecoin still has significant room to climb before hitting overbought conditions.

    Another factor is the Dogecoin mining hash rate chart. As shown in the image below, the hash rate has been rising massively since the beginning of 2025, showing that network strength has been steadily climbing even during price consolidations and declines.

    Historical Patterns Back Expansion Outlook

    One of Abbé’s key points is that Dogecoin’s price cycles have consistently followed a similar pattern of long sideways stretches followed by sudden vertical expansions. This cycle structure can be seen in the cumulative value days destroyed (CVDD) chart. As shown in the chart below, Dogecoin’s price action stayed well within its accumulation zones before breaking higher in 2018 and then in 2021.

    However, unlike the peaks in 2018 and 2021 where on-chain metrics were overheated, current conditions are calm, which shows more of genuine accumulation rather than profit-taking and distribution.

    The expansion phase is not about short-lived spikes but rather the start of a new directional trend that could redefine Dogecoin’s price structure. Although the analyst did not define a price target, technical analyses from other analysts point to price predictions that will take the Dogecoin price well above its 2021 peak of $0.7316 into the $1 threshold and beyond. A similar analysis by crypto analyst Javon Marks points to a Dogecoin price target of $1.25.

    At the time of writing, Dogecoin is trading at $0.237, up by 9.5% in the past 24 hours.

    Featured image from Unsplash, chart from TradingView

    [ad_2]

    Scott Matherson

    Source link

  • Lummis Fast-Tracks Crypto Market Structure Bill To Reach Trump’s Desk Before Thanksgiving

    [ad_1]

    In a recent address, pro-crypto Senator Cynthia Lummis revealed her efforts to expedite the passage of a crucial piece of legislation known as the Market Structure Bill. 

    This initiative follows the recent enactment of several significant laws, including the GENIUS Act, the CLARITY Act, and the Anti-CBDC bills, all aimed at shaping the future of digital assets in the United States.

    Keys Behind The Responsible Financial Innovation Act

    Since the House of Representatives passed these key crypto bills last month, the Senate Banking Committee has been crafting its version of a comprehensive regulatory framework for cryptocurrencies. 

    Under the leadership of Chairman Tim Scott and alongside Senators Lummis, Bill Hagerty, and Bernie Moreno, the committee introduced the draft of the “Responsible Financial Innovation Act of 2025.” 

    This piece of crypto legislation seeks to provide much-needed regulatory clarity, promote innovation, and address the significant risks often associated with the evolving digital asset landscape.

    Related Reading

    The Senate’s proposed framework builds on the foundation laid by the Clarity Act, which primarily aimed to empower the Commodity Futures Trading Commission (CFTC) and classify digital assets as commodities. 

    In contrast, the Senate bill grants the Securities and Exchange Commission (SEC) primary regulatory oversight over what it terms “ancillary assets.” 

    Notably, the bill specifies that these ancillary assets should not be classified as securities, and transactions involving them would not fall under federal securities laws, including the Securities Investor Protection Act of 1970.

    This comes on the heels of statements from SEC Chair Paul Atkins, who suggested that only a small number of tokens could be classified as securities, depending on how they are packaged and marketed.

    Crypto Legislation’s Thanksgiving Deadline

    The bill also takes a stance on combating illicit financial activities associated with digital assets. It mandates new regulations for anti-money laundering (AML) efforts and countering the financing of terrorism.

    The draft unveils that one of the most pressing challenges in developing a robust digital asset market is determining how traditional banks and financial institutions fit into this evolving ecosystem. 

    Related Reading

    An increasing number of banks such as Morgan Stanley, Citigroup, and Bank of America, are now considering the integration of crypto assets, particularly stablecoins, as a means to overcome traditional payment barriers. 

    The proposed legislation aims to address this issue by explicitly allowing banks and financial holding companies to engage in a variety of digital asset activities, including custody and trading.

    During a recent conversation at the SALT conference in Jackson Hole, Wyoming, Senator Lummis expressed her confidence in the crypto bill’s momentum, stating, “We will have it on the President’s desk before Thanksgiving.” 

    The daily chart shows the total crypto market cap at $3.81 trillion. Source: TOTAL on TradingView.com

    Featured image from DALL-E, chart from TradingView.com

    [ad_2]

    Ronaldo Marquez

    Source link

  • Solana Q3 Digest: Total Value Locked Hits $5.7 Billion, Ranks Third Among Networks

    Solana Q3 Digest: Total Value Locked Hits $5.7 Billion, Ranks Third Among Networks

    [ad_1]


    Este artículo también está disponible en español.

    A recent report from crypto data and research firm Messari has shed light on the performance of the Solana (SOL) ecosystem during the third quarter of 2024. The report highlights a mixture of growth and challenges faced by the blockchain amid broader volatility in the cryptocurrency market during that period.

    Solana Stablecoin Market Cap Rises To $3.8 Billion

    One of the standout metrics from the report is the growth of Solana’s Total Value Locked (TVL) in decentralized finance (DeFi), which rose by 26% quarter-over-quarter (QoQ) to reach $5.7 billion. 

    This growth positioned Solana as the third-largest network in terms of DeFi TVL, surpassing Tron in late September. Notably, the TVL denominated in SOL also increased, growing by 20% QoQ to 37 million SOL.

    Related Reading

    Solana’s Q3 TVL growth. Source: Messari

    Kamino emerged as a leading player within the Solana ecosystem, experiencing a 57% growth in TVL, ending the quarter with $1.5 billion and capturing a 26% market share. This surge is attributed to the integration of new tokens, including PayPal’s USD (PYUSD) and jupSOL, which have enhanced the platform’s appeal.

    Despite the overall positive trends, decentralized exchange (DEX) volume experienced a slight decline, reflecting a downturn in memecoin trading. Average daily spot DEX volume fell by 10% QoQ to $1.7 billion. 

    Per the report, the diminishing interest in memecoins was evident, as only two tokens—WIF and POPCAT—managed to make it into the top ten by trading volume for the quarter.

    In contrast, Solana’s stablecoin ecosystem showed resilience, with the market cap for stablecoins growing by 23% QoQ to $3.8 billion, solidifying its rank as the fifth-largest network in this category. 

    On the non-fungible token (NFT) front, however, the performance was less favorable. Average daily NFT volume fell by 27% QoQ to $2.5 million, with Magic Eden maintaining a dominant market share despite experiencing a 44% decline in volume. 

    Network Activity Thrives

    Despite the challenges, the number of funding rounds for projects within the Solana ecosystem saw a reduction of 37% QoQ, with only 29 projects announcing funding. Yet, the total amount raised soared to $173 million, a 54% increase QoQ and the highest quarterly funding since Q2 2022.

    Solana
    Funding growth in the Solana blockchain during Q3. Source: Messari

    Network activity remained robust, as evidenced by a 109% increase in average daily fee payers, which reached 1.9 million. Additionally, the average daily new fee payers grew by 430% QoQ to 1.3 million, signaling a growing user base. 

    Related Reading

    The average transaction fee on Solana increased by 6% QoQ to 0.00015 SOL (approximately $0.023), while the median transaction fee dropped by 19% to 0.000008 SOL (around $0.0013). 

    As of October 15, Solana’s market capitalization also grew by 5% QoQ, reaching $71 billion and maintaining its position as the fifth-largest cryptocurrency, trailing only Bitcoin, Ethereum, Tether, and Binance Coin. 

    However, the Real Economic Value (REV) of Solana, which tracks transaction fees and miner extractable value (MEV) for validators, decreased by 25% QoQ to 1.3 million SOL (approximately $196 million), with 56% of this total coming from transaction fees.

    Solana
    The daily chart shows SOL’s price retrace experienced over the past 72 hours. Source: SOLUSDT on TradingView.com

    At the time of writing, SOL was trading at $166, down 5% for the seven day period.

    Featured image from DALL-E, chart from TradingView.com 

    [ad_2]

    Ronaldo Marquez

    Source link

  • Bitcoin Price To Go ‘Vertical’ Towards $200,000 As Crypto Analyst Points Out Massive Cup And Handle Pattern

    Bitcoin Price To Go ‘Vertical’ Towards $200,000 As Crypto Analyst Points Out Massive Cup And Handle Pattern

    [ad_1]


    Este artículo también está disponible en español.

    The Bitcoin price could see its price surging dramatically to $200,000, with the formation of a new Cup and Handle pattern. While the pioneer cryptocurrency has been slowly recovering from bearish trends to reach the $70,000 mark, a rally to $200,000 would mark a historical milestone and a new All-Time-High (ATH) for BTC. 

    Technical Pattern Signals $200,000 Rally Ahead

    Popular crypto analyst, Mags has unveiled a new technical pattern in the Bitcoin price chart. According to his post on X (formerly Twitter), Bitcoin is currently forming “a massive cup and handle pattern,” indicating a potential for a major rally. 

    Related Reading

    Mags revealed that the Bitcoin price has just moved past the handle portion in the technical pattern, indicating a positive signal for a breakout that could start a bullish phase. As its name suggests, a Cup and Handle pattern is a key technical chart pattern that resembles a cup and handle. In this chart pattern, the cup is in the shape of a U and is considered a bullish signal, while the handle represents a slight downward drift, which indicates a potential buying opportunity to go long. 

    Source: X

    Mags observed that since Bitcoin has just broken past the handle, the next level is to watch the “neckline” which serves as a resistance point. If Bitcoin can break through the neckline, it’s price could surge dramatically or like the analyst says “go vertical.” This bull rally could see Bitcoin’s price driving towards $200,000, marking a new all time high for the cryptocurrency.

    Currently, the price of Bitcoin is trading at $66,972, reflecting a slight 2.02% decrease in the past seven days, according to CoinMarketCap. While Mags has projected a $200,000 price increase for Bitcoin, the analyst has also forecasted even higher price targets in previous X posts, suggesting that a $200,000 price level may be conservative for the world’s first and largest cryptocurrency. 

    Bitcoin Price Peak Set At $300,000

    In another X post on October 24, Mags disclosed that Bitcoin is about to enter its price discovery, suggesting an imminent breakout to new levels. Price discovery is the process by which an asset’s true market value is determined, and for Bitcoin, it suggests when its price could reach fresh highs.  

    Related Reading

    Sharing a historical Bitcoin price chart, the analyst pinpointed instances where the cryptocurrency entered a price discovery before reaching a peak. In 2014, BTC hit a peak, then bottomed out in 2015 before reaching another price high in 2018. A similar price action occurred between 2019 and 2024, with BTC achieving a bottom in 2019 and peaking in 2021. 

    Bitcoin price 2
    Source: X

    Following this historical price trend, Mags indicated that Bitcoin hit its bottom in 2023 and is now about to enter its price discovery. Once the cryptocurrency does, it could signal a surge to a new all-time high, which Mags has set at an impressive $300,000. 

    Bitcoin price chart from Tradingview.com
    BTC price struggles to hold $67,000 | Source: BTCUSD on Tradingview.com

    Featured image created with Dall.E, chart from Tradingview.com

    [ad_2]

    Scott Matherson

    Source link

  • Bitcoin Cup And Handle Cascade: Analyst Says BTC Price Could Reach $230,000 If It Follows This Structural Path

    Bitcoin Cup And Handle Cascade: Analyst Says BTC Price Could Reach $230,000 If It Follows This Structural Path

    [ad_1]


    Este artículo también está disponible en español.

    A crypto analyst has projected a significant break to the upside for Bitcoin, drawing parallels to similar breakouts in traditional assets in the tune of the Gold and the S&P500. According to a technical analysis of the current price action, Bitcoin is playing out a cup and handle pattern, which could send it surging to bullish price targets above $230,000. 

    Bitcoin Cup And Handle Cascade

    According to a technical analysis, Bitcoin appears to be forming a textbook cup and handle pattern on the largest timeframe, which is a bullish continuation pattern that often leads to a major price rally. This formation typically indicates a period of consolidation followed by a breakout to the upside, and if the pattern fully plays out, Bitcoin could surge to new heights. 

    Related Reading

    In a recent analysis shared on the social media platform X, technical analyst Gert van Lagen compared Bitcoin’s ongoing cup and handle formation to similar patterns observed in Gold and the S&P 500. Van Lagen pointed out that Gold experienced a comparable setup of the formation of the cup and handle, which ultimately led to a full-scale bull rally in 2023. This breakout pushed Gold to new highs which has continued up until the time of writing, with Gold now trading above $2,730 in its history.

    Similarly, the analyst highlighted a similar cup and handle pattern in the SP500, which eventually led to a rally that kickstarted in late 2023 and culminated in new peaks for the index.

    Van Lagen emphasized that Bitcoin has been tracing out a similar pattern since the 2022 bear market. The “cup” portion of the formation was completed when Bitcoin reached its all-time high back in March. Now, Bitcoin is in the process of forming the “handle” part of the pattern, as the cryptocurrency has yet to revisit its all-time high over the past seven months. 

    Should the handle formation conclude and a breakout occur, Bitcoin could be on the verge of a strong rally, much like Gold and the S&P 500 experienced during their respective runs. 

    BTC To $230,000

    According to van Lagen, Bitcoin is “poised to follow the structural path of SP500 & Gold.” In terms of a price target, he predicted a target of $230,000 for Bitcoin.

    At the time of writing, Bitcoin is trading at $67,350. Reaching the $230,000 price level would necessitate a 197% price increase from the current price.

    Related Reading

    Interestingly, van Lagen’s forecast is just one of several bullish outlooks resurfacing as Bitcoin’s price has shown positive momentum since the second week of October. Bitcoin is up by about 13.5% from $59,500 on October 10, which has prompted a return of bullish sentiment.

    According to a report, this has caused a rise in Bitcoin accumulation by long-term holders, who now hold about 2.9 million BTC. Another analyst noted that Bitcoin is on track to double in value and reach $130,000 by January 2025 

    BTC bears still pushing for control | Source: BTCUSD on Tradingview.com

    Featured image created with Dall.E, chart from Tradingview.com

    [ad_2]

    Scott Matherson

    Source link

  • Crypto Capo Returns After 2 Months To Predict Ethereum Decline To $1,800, Is It Time To Go Long?

    Crypto Capo Returns After 2 Months To Predict Ethereum Decline To $1,800, Is It Time To Go Long?

    [ad_1]


    Este artículo también está disponible en español.

    Popular crypto analyst Il Capo of Crypto has returned to social media platform X after over two months of hiatus to drop an interesting outlook for Bitcoin and Ethereum in the coming months in light of the recent correction since the beginning of October. The analyst, which has been so big on a looming altseason since the beginning of the year, has revealed a bearish outlook for Bitcoin and even Ethereum (king of altcoins) in the short term.

    Known for his sometimes controversial and often contrarian predictions, Capo returned just as the market experienced a notable correction in October, sharing his bearish outlook for both Bitcoin and Ethereum. His latest prediction is that Ethereum could plummet as low as $1,800 before seeing any substantial recovery.

    ETH’s Predicted Decline

    Ethereum has already dropped by 10% in the past seven days and is currently trading around around $2,330, but according to Capo, this decline could worsen. He predicted that ETH might fall further into the $1,800 to $2,000 range, which is a possible 23% dip from its current price, before eventually rebounding. However, he believes an altcoin season will still materialize. 

    Related Reading

    Capo’s track record of analysis since the beginning of the year shows a consistent belief in the upcoming dominance of altcoins. Throughout 2024, he has repeatedly emphasized the potential for altcoins, particularly Ethereum, to outperform Bitcoin as profits generated from BTC flow into smaller assets. However, the altcoin season has yet to materialize, and Bitcoin has continued to dominate the crypto investment scene.

    Time To Go Long On Ethereum?

    It’s worth noting that Crypto Capo’s predictions often have a certain lore attached to them. There is a running joke among some investors that whenever Capo makes a prediction, the market tends to do the opposite. This goes as far back as his prediction of Bitcoin falling to $12,000 last year, but the crypto eventually broke past resistance levels. Now, with Capo predicting the possibility of continued decline for Ethereum and Bitcoin amid October’s bullish market sentiment (often dubbed “Uptober”), it raises the question from many investors if his bearish call is far-fetched.

    Related Reading

    Only time will tell if the market plays out according to Capo’s analysis. However, given the current inflow of investments and the crypto market, which has mostly rallied in October, it wouldn’t be surprising if Ethereum rebounds rather than experiences the significant drop Capo is forecasting.

    Naturally, many savvy whales and traders have seen the current decline as an opportunity to “go long” and accumulate more Ethereum in expectation of the resumption of inflows. This sentiment is reflected through the US Spot Ethereum ETFs, which witnessed $14.45 million in inflows yesterday despite the price correction.

    Interestingly, it is important to note that Capo’s analysis is only talking about a possible case and remains bullish for Ethereum in the long term. 

    ETH price drops sharply | Source: ETHUSDT on Tradingview.com

    Featured image created with Dall.E, chart from Tradingview.com

    [ad_2]

    Scott Matherson

    Source link

  • Dogecoin Eyes Bullish 50% Rally To $0.16, But Will A Crash Come First?

    Dogecoin Eyes Bullish 50% Rally To $0.16, But Will A Crash Come First?

    [ad_1]

    After a long stretch of muted price action, Dogecoin has finally entered a position where it could be gearing up for a surge. With major developments such as an increase in participation from both small and large investors, as well as indicators turning bullish, the DOGE price looks primed for a major recovery. However, there could be a small roadblock for the meme coin when it comes to achieving this uptrend as one analyst has pointed out the possibility of a further crash from here.

    A Crash Or A Surge For DOGE?

    Crypto analyst Ali Martinez has presented a forecast for the Dogecoin price with mixed signals for the future. The analysis focuses on both the bullish and bearish possibilities for the meme coin as it continues to trade in a trading range. Both of these scenarios are possible, with the Stochastic RSI may win out this time.

    According to the analysis, the Stochastic RSI has made a bearish crossover for the Dogecoin price. This bearish crossover suggests that there is a price crash coming for the altcoin. In this case, the DOGE price could be falling below $0.1 again. Not only this, but Dogecoin may lose around 15% of its value if this bearish scenario were to play out. This could see the DOGE price fall as low as $0.087 in the worst case scenario.

    On the flip side, the Dogecoin price is also showing some bullish tendencies, as the crypto analyst points out. The price is apparently “flirting with a bullish breakout,” which could be significant if it plays out. In this case, the bullish breakout could see the meme coin’s price rise as high as $0.16 and that would mean a 45% breakout from the current price.

    Dogecoin Looking For A Breakout

    The crypto analyst has previously presented bullish scenarios for the Dogecoin price but chalked it up to two key signals. The first of which is the RSI actually making a successful break out of the descending trending on the daily chart. Second of these is a break above the $0.11 resistance on the chart.

    One of these signals had been triggered, with the RSI breaking the descending trendline. However, that has since changed as the Stochastic RSI has actually turned bearish in the meantime. The DOGE price is still trending below $0.1, suggesting that bears are still well in control of the price.

    These developments show more potential for the Dogecoin price to actually crash from here before a recovery. But in the event of a market-wide recovery, DOGE could end up following the uptrend regardless.

    [ad_2]

    Scott Matherson

    Source link

  • Ethereum Whales Spend $185 Million To Accumulate 70,000 ETH, Time To Buy?

    Ethereum Whales Spend $185 Million To Accumulate 70,000 ETH, Time To Buy?

    [ad_1]


    Este artículo también está disponible en español.

    Ethereum has largely mirrored Bitcoin in terms of price action and has yet to break out on its own accord in the past few months. According to price data, Ethereum is up by 13% in the past seven days, outpacing Bitcoin’s increase of 5.8% in the same time frame. Behind this interesting increase in Ethereum are some large Ethereum holders who seem to be increasing their holdings. 

    Notably, on-chain data from multiple analytics platform points to an uptick in activity from Ethereum whales in the past few days. Particularly, Glassnode data suggests large holders of Ethereum have added at least 70,000 ETH into their wallets since the beginning of last week.

    Ethereum Whales Spend Big On ETH

    The interesting Ethereum whale activity noted above is revealed through on-chain analytics platform Glassnode. As shown in the chart below, the number of Ethereum wallets holding 10,000 ETH or more has experienced a rise in the last 24 hours, increasing to 925 wallets. This marks a gain of about seven new whale wallets that have accumulated a huge number of ETH tokens, up from the 918 wallets recorded on September 18. 

    Related Reading

    Source: Glassnode

    Supporting this trend, additional data from IntoTheBlock (ITB) indicates a surge in activity from addresses holding substantial amounts of Ethereum. ITB tracks these movements through a specific metric that monitors the number and value of transactions exceeding $100,000. According to this metric, Ethereum whale activity has reached over $29 billion in the past seven days. While this figure accounts for both inflows and outflows from whale wallets, the sheer scale of these transactions is notable. Historically, such high levels of activity from large holders tend to be a bullish indicator for cryptocurrencies.

    This heightened activity is further reflected in the inflows of ETH into large holder wallets. On September 23, these inflows soared to 515,520 ETH, representing an impressive 440% spike compared to the 95,820 ETH recorded during the previous 24-hour period. 

    Time To Buy ETH?

    At the time of writing, Ethereum is trading at $2,626. As noted earlier, this is on the back of a 13% increase in the past seven days, prompting Ethereum’s overperformance over Bitcoin for the first time since the beginning of the year. The leading altcoin has mirrored Bitcoin’s movements so consistently that some analysts have questioned its potential for decoupling anytime soon.

    Related Reading

    Ethereum’s importance in the crypto industry means there’s never a bad time to accumulate more ETH. Ethereum just broke over $2,600 for the first time in September, which is the first step in a sustained move to the upside. The next key target is to break above $2,700 before the end of the month, which could pave the way for a push towards $3,000 in October.

    Ethereum price chart from Tradingview.com
    ETH price at $2,600 | Source: ETHUSDT on Tradingview.com

    Featured image created with Dall.E, chart from Tradingview.com

    [ad_2]

    Scott Matherson

    Source link

  • Shiba Inu Symmetrical Triangle Pattern Reappears, Why A 200% Rally Is Possible

    Shiba Inu Symmetrical Triangle Pattern Reappears, Why A 200% Rally Is Possible

    [ad_1]


    Este artículo también está disponible en español.

    Shiba Inu (SHIB) may be on its way to reclaim former price highs, as a crypto analyst identified as the ‘Charting Guy’ has confirmed the reappearance of a unique symmetrical triangle pattern on the SHIB price chart. A breakout from this symmetrical triangle could see Shiba Inu potentially rallying above 200% from its current price. 

    Shiba Inu Triangle Pattern Points To Breakout

    On September 23, Charting Guy took to X (formerly Twitter) to unveil a new trend pattern in Shiba Inu’s price chart. The chart highlighted three wave patterns and several Fibonacci retracement levels which acted as resistance and support zones for Shiba Inu’s price.

    Related Reading

    Source: X

    In classic wave 1 and 2, Shiba Inu’s price movements exhibited a series of fluctuations, followed by a brief upward momentum before sliding downwards again. Now in wave 3 which the analyst has predicted would be an explosive one, Shiba Inu has formed a historical symmetrical triangle pattern which could trigger a potential surge to new highs at $0.0.0000493, representing a 244% rally. 

    Currently, Shiba Inu is trading at $0.0000143, with its next key resistance at the 0.382 Fibonacci retracement level, near $0.0000164. If the meme coin fails to surpass this resistance, the 0.236 Fibonacci retracement level at $0.000011 could provide strong support. 

    In contrast, if Shiba Inu exceeds resistance levels at $0.0000164, the cryptocurrency could see its price breakout to $0.0000226. More resistance can also be seen at Fibonacci retracement levels around 0.618 and 0.702, representing the $0.0000312 and $0.0000392 price marks, respectively. 

    If Shiba Inu can successfully break out of these key levels, the cryptocurrency would experience an explosive surge to $0.0000493, a price level well above its previous March high of around $0.000045. 

    Interestingly, this price level is not the highest Shiba Inu can reach based on its symmetrical triangle pattern. According to the Charting Guy, if SHIB can break above the 0.888 Fibonacci retracement level at $0.0000651, the meme coin could potentially skyrocket to new all-time highs at $0.0000884, corresponding to the 1 Fibonacci retracement level and marking a massive rally of approximately 518%. 

    However, in the event that Shiba Inu fails to surpass this key level, it is likely to find support at the 0.786 Fibonacci retracement level of $0.00004936. 

    Related Reading

    SHIB Price Analysis

    Supporting the optimism surrounding Shiba Inu’s future outlook, the cryptocurrency has been on a steady upward trajectory. In the past week, the price of Shiba Inu increased by an impressive 8.91%. However, it has recently retraced some of those gains, experiencing a 1.52% decline in the last 24 hours. 

    Earlier in March, Shiba Inu witnessed a significant rally, positioning it as one of the top gainers. According to data from CoinMarketCap, the cryptocurrency has seen a staggering 95.65% price increase since the start of 2024. 

    Shiba Inu price chart from Tradingview.com
    SHIB price pushes toward $0.000015 | Source: SHIBUSDT on Tradingview.com

    Featured image created with Dall.E, chart from Tradingview.com

    [ad_2]

    Scott Matherson

    Source link

  • Bitcoin Jumps 22% Post-Fed Rate Cut, Yet Key Resistance Sparks Crash Fears – Bitfinex

    Bitcoin Jumps 22% Post-Fed Rate Cut, Yet Key Resistance Sparks Crash Fears – Bitfinex

    [ad_1]

    Bitcoin (BTC), the world’s largest cryptocurrency, has rallied over 22% in the past two weeks to trade at around $63,200, following a significant drop to $52,000 on September 6. This is the highest level BTC has reached in almost two months.

    Critical Resistance At $65,200 Looms

    According to a recent report from digital asset trading platform Bitfinex, this price increase was largely driven by the Federal Reserve’s (Fed) decision to cut interest rates, which helped propel BTC to a new local high of $64,200 on September 20. 

    However, despite this positive momentum, Bitcoin is still just below a critical resistance level of $65,200, established on 25 August. The report notes that a failure to breach this level could confirm a worrying trend that has characterized BTC’s price action since its all-time high of $73,666 in March.

    Since that peak, Bitcoin has repeatedly struggled to break previous highs before forming new local lows, indicating a persistent downtrend. This pattern of lower and lower highs is evident on the daily Bitcoin chart, suggesting that the cryptocurrency has been on a downward trajectory since mid-March.

    As seen on the daily BTC/USDT chart above, this repeated price action has been characterized by a sustained and continuous downtrend since the March peak. 

    Nonetheless, further volatility fueled by macroeconomic fears triggered another crash on August 5. BTC hit its lowest level in six months, down to the $49,000 level from the $70,000 level it had been trading at since late July.

    What Drove Bitcoin Recent Gains?

    One notable concern that Bitfinex finds is the discrepancy between BTC’s price gains and open interest in future markets. As BTC rose, open interest rose even faster, reaching $19.43 billion – up from $18.93 billion on August 25- while the Bitcoin price remained around $1,000 below its local high. 

    This divergence suggests that much of the recent price movement may be driven by speculative trading in futures and perpetual contracts rather than strong demand in the spot market.

    Earlier this month, Bitfinex observed that Bitcoin’s rise to around $62,000 was largely fueled by robust spot market buying, in stark contrast to the current situation. 

    While this trend in open interest might suggest increased speculative interest in Bitcoin, it does not directly imply bearishness. The report states that open interest is not a definitive measure of leverage in the market; it merely reflects the total value of outstanding contracts.

    Finally, the report suggests that this renewed speculative interest could be beneficial as traders return from their summer holidays and reassess their positions following the rate cut. However, Bitfinex does note that in the absence of clearer indicators of sustained bullish momentum, market participants should remain cautious. 

    Featured image from DALL-E, chart from TradingView.com

    [ad_2]

    Ronaldo Marquez

    Source link

  • XRP Price To Crash To $0.33 Before Surge To $9 Post-SEC Appeal; Analyst Reveals

    XRP Price To Crash To $0.33 Before Surge To $9 Post-SEC Appeal; Analyst Reveals

    [ad_1]


    Este artículo también está disponible en español.

    Earlier in August, the XRP community got some positive news when the court ruled that Ripple Labs should pay a $125 million fine to the United States Securities and Exchange Commission (SEC) for selling unregistered securities. However, the regulator has been unhappy with this decision, leading to an appeal of the court’s decision. Naturally, the appeal has pushed back the finish line for the 4-year battle, but the end could still be very bullish for the XRP price.

    The XRP Crash Before The Surge

    While the SEC and Ripple continue to battle it out in court, a pseudonymous crypto analyst on the TradingView website who goes by the name AnalysisParalysis has shared their expectation for the XRP price. In this case, the crypto analyst expects that the altcoin’s price will rally. But not without first suffering a decline due to the SEC appeal.

    Related Reading

    According to the analyst, the SEC appeal is expected to come sometime before October 6, 2024, during which time they expect the XRP price to struggle. “I believe this will be the catalyst this time around that causes XRP to crash just before its going to go on a massive upward movement,” the analyst said.

    The initial crash here is expected to cross 30%, pushing the price as low as $0.33. However, after this, fireworks are expected to follow as the XRP price begins its uptrend. From here, the altcoin is expected to clear the $1 easily, moving toward new all-time highs in the process.

    As for how high the XRP price could go, the crypto analyst believes that it could rise as high as $8.80. If this happens, it would mean a 2,566% increase from the $0.33 lows expected after the price crash. The analyst speculates that the timeframe for the altcoin’s price to touch this new all-time high is sometime in summer 2025. So, somewhere between June and September 2025.

    The State Of The Ripple Vs. SEC Lawsuit

    Currently, the battle between Ripple and the SEC rages on as the regulator has appealed the court’s decision that secondary programmatic sales of XRP tokens do not count as a securities offering. The outcome of the appeal is still heavily debated but securities lawyer Marc Fagel has offered various possibilities.

    Related Reading

    On an X (formerly Twitter) post, Fagel stated;

    “The Court of Appeals could conclude the district court erred in stating that XRP is not itself a security; and if it is, then the holding on programmatic sales gets reversed. But they could also reverse the programmatic sales without addressing the question of XRP being a security per se (as seems more likely).”

    However, way the appeal does play out, the consensus remains that a final end to the battle between the crypto firm and the regulator would be good for the XRP price. Projections following the outcome have ranged from a price tag of $1 to as high as $100.

    Price maintains uptrend despite market decline | Source: XRPUSDT on Tradingview.com

    Featured image created with Dall.E, chart from Tradingview.com

    [ad_2]

    Scott Matherson

    Source link

  • Challenges Mount For Bitcoin Miners As Difficulty Surges To Record High

    Challenges Mount For Bitcoin Miners As Difficulty Surges To Record High

    [ad_1]


    Este artículo también está disponible en español.

    A recent report by Bloomberg highlights that the difficulty of mining Bitcoin has surged to a record high, reflecting increasing competition among cryptocurrency miners. 

    On Wednesday, mining difficulty rose by 3.5%, as reported by crypto-mining tracker CoinWarz. This metric, which has been climbing steadily, often aligns with market expectations for Bitcoin’s price movements.

    Post-Halving Challenges

    Following the April Halving, which reduced miners’ potential revenue by half, the Bitcoin price has dropped approximately 10% to a current trading price of $57,000. 

    Per the report, this reduction has significantly pressured the profit margins of many mining companies, particularly those operating at higher costs. Christopher Bendiksen, Bitcoin research lead at CoinShares, noted: 

    The effect of the all-time high in difficulty, right on the back of the Halving, is making the outlook extremely challenging for many miners—especially those at the higher end of the cost curve. The researcher added that if current trends persist, some miners may struggle to remain cash flow positive, let alone achieve profitability.

    Related Reading

    Miners play a crucial role in the Bitcoin ecosystem by using specialized computers to validate transaction data on the blockchain, thereby securing the network. In return for their efforts, they earn Bitcoin rewards. 

    However, the financial landscape for miners has been tough this year; shares of major publicly traded mining companies have plummeted, with Marathon Digital Inc. and Riot Platforms Inc. experiencing declines of 31% and 54%, respectively.

    In contrast, Bitcoin’s price has shown consistency despite current challenges, climbing 38% and reaching a record high of $73,798 in March, fueled by optimism surrounding the demand for US exchange-traded funds (ETFs) that hold BTC. 

    Additionally, Bitcoin’s hash rate—the total computing power supporting the network—hit an all-time high in September, indicating strong participation in mining activities.

    Crucial Months Ahead For The Bitcoin Market

    Historically, the Bitcoin price has often dipped following its Halving event, only to rebound several months later, eventually hitting new record highs. Many industry participants are anticipating a potential rally in the fourth quarter, with Bobby Zagotta, CEO of crypto exchange Bitstamp USA, expressing optimism about market movements.

    However, Bendiksen cautioned that many miners appear to be banking on a significant price increase in Bitcoin. “If that fails to materialize, there will be trouble ahead for some operators,” he warned. 

    Related Reading

    The coming months will be crucial in determining the sustainability of mining operations and the broader health of the market, with expectations for further price recoveries increasing in the latter part of the year, with other potential catalysts including easing macroeconomic conditions and the outcome of the US election.

    The 1D chart shows BTC’s sideways price action above $57,000. Source: BTCUSDT on TradingView.com

    As of now, the largest cryptocurrency on the market is down a slight 0.4% in the 24-hour time frame, and nearly 2% in the last seven days, showing BTC’s struggle to regain previously lost levels. 

    Featured image from DALL-E, chart from TradingView.com 

    [ad_2]

    Ronaldo Marquez

    Source link

  • Solana Flashes Buy Signal As Analysts Predict Rally For The Altcoin

    Solana Flashes Buy Signal As Analysts Predict Rally For The Altcoin

    [ad_1]


    Este artículo también está disponible en español.

    Solana (SOL)recently flashed a buy signal, suggesting that now might be a great time to accumulate the altcoin. This development comes as crypto analysts, including Ali Martinez, predicted a significant price surge for Solana. 

    Solana Flashes Buy Signal

    Ali Martinez revealed in an X (formerly Twitter) post that the TD sequential has presented a buy signal on Solana’s daily chart, indicating that the altcoin could rebound from the lower boundary of the parallel channel toward the middle or upper boundaries. The crypto analyst mentioned that the altcoin has been consolidating within this channel since April earlier this year. 

    Related Reading

    Martinez also provided insights into how Solana could rise if this rebound happens, revealing that the middle and upper boundaries are positioned at $154 and $187, respectively. Martinez has been bullish on Solana, as he had earlier predicted that Solana would reach $1,000 in this bull run. 

    Meanwhile, Martinez warned that Solana witnessing a sustained close below the channel’s lower boundary at $126 could invalidate this trade setup and trigger a significant price correction for the altcoin, causing it to drop to as low as $110 or even $90. 

    Martinez isn’t the only analyst who has predicted that SOL will enjoy a price recovery and rally soon enough. Crypto analyst The Moon also recently suggested that the altcoin could rally to as high as $155, depending on how things play out. The crypto analyst noted that Solana is trading within a descending triangle, which he highlighted in the accompanying chart. 

    Based on this, he stated that $155 is a possible target for the altcoin. However, Solana could also suffer more downside pressure and drop to as low as $112.5. A drop to this price level, however, provides an opportunity for investors to accumulate more Solana at such lows, especially with the altcoin still likely to reach a new all-time high (ATH) at some point in this market cycle. 

    SOL Could Drop To As Low As $80

    Crypto analyst Crypto Kaleo has provided a much more bearish outlook for Solana, predicting that the altcoin could drop to as low as $80 before it reaches a new ATH. The last time Solana dropped to the $80 range was in January earlier this year, just before it climbed above $100, a support level it has maintained ever since. The accompanying chart, which the crypto analyst shared, shows that Solana could rise to as high as $375 after this corrective move.

    Related Reading

    Crypto analyst Unknown Trader had made a similar prediction to Crypto Kaleo, highlighting between $77 and $83 as ideal areas to place spot bids for Solana. However, while Crypto Kaleo believes that SOL’s drop to the $80 range will happen sometime between now and October, Unknown Trader’s accompanying chart showed that the price correction won’t happen until next year. 

    At the time of writing, Solana is trading at around $127, down almost 1% in the last 24 hours, according to data from CoinMarketCap. 

    SOL price fails to reclaim $130 | Source: SOLUSDT on Tradingview.com

    Featured image created with Adobe Stock, chart from Tradingview.com

    [ad_2]

    Scott Matherson

    Source link