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Tag: Market Sentiment

  • Satoshi price explodes after Binance listing

    Satoshi price explodes after Binance listing

    The meme cryptocurrency Satoshi saw a 140% price surge within hours of leading crypto exchange Binance announcing it would list the token.

    According to prominent on-chain analytics platform Lookonchain, the top 20 holders of Satoshi (SATS) now control 333.3 trillion tokens worth $150.8 million. This constitutes 15.9% of the total supply. Six of these top holders obtained their SATS through minting, accumulating around 78.57 million SATS now valued at $35.5 million.

    At the time of writing, the price of SATS stands at $0.0000004896, showing a staggering 138.03% daily increase. This substantial price movement comes on the heels of Binance officially announcing it would list BRC-20 SATS, which represents 1,000 times the value of SATS, on its platform.

    Trading will open on Dec. 12th at noon UTC, with initial pairs including 1000SATS/USDT, 1000SATS/FDUSD, and 1000SATS/TRY. Users can already begin depositing 1000SATS tokens in preparation. Withdrawals will open a day later.

    Binance has set the listing fee for 1000SATS at zero BNB. The token will also be introduced as a borrowable asset on Binance’s isolated margin platform. The new margin pair will be 1000SATS/USDT.

    Binance clarified that while 1000SATS represents 1,000 SATS tokens, users can still deposit and trade regular SATS tokens, which will automatically be treated as the equivalent 1000SATS amount. SATS itself pays tribute to Satoshi, the anonymous creator of Bitcoin (BTC). As the smallest denomination, one satoshi is equivalent to 0.00000001 BTC.


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    Adrian Zmudzinski

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  • Cathie Wood: spot Bitcoin ETF seen as ultimate endorsement for institutional investors

    Cathie Wood: spot Bitcoin ETF seen as ultimate endorsement for institutional investors

    Cathie Wood believes the SEC’s decision on spot Bitcoin ETFs may significantly impact institutional crypto adoption.

    Wood views this imminent approval as a pivotal moment, suggesting that such approval could be the “final seal of approval” for institutions considering crypto investments. In collaboration with 21Shares, ARK Invest awaits a decision on their ARK 21Shares Bitcoin ETF (ARKB) proposal, with a ruling expected by Jan. 10.

    The SEC’s previous approval of Bitcoin futures ETFs in October 2021 was seen as a cautious yet progressive step despite concerns about counterparty risks compared to spot products backed by Bitcoin in cold storage. Most Bitcoin ETF proposals name Coinbase as the custodian, which adds a layer of security and legitimacy.

    A court victory in July by Grayscale Investments against the SEC further underscores the tension and evolving landscape. The court criticized the SEC’s decision to deny Grayscale’s Bitcoin ETF conversion while allowing futures-based funds, labeling it “arbitrary and capricious.”

    Wood’s optimistic forecast for Bitcoin’s value (BTC), predicting it could exceed $1 million in the long term, is matched by Bloomberg Intelligence analysts’ high confidence in approving a spot Bitcoin ETF by Jan. 10. This optimism is a departure from the SEC’s historical reluctance to support spot Bitcoin ETFs.

    21Shares President Ophelia Snyder noted recent pattern breaks in the approval process, indicating a potential shift in the SEC’s stance. Recent updates in Bitcoin ETF filings, such as BlackRock’s inclusion of seed capital language and technical amendments addressing concerns like Bitcoin mining’s electricity usage, suggest an active dialogue with the SEC.

    The entrance of major firms like BlackRock into the Bitcoin ETF space has reinvigorated efforts by other financial giants like Fidelity and Invesco. Wood anticipates that multiple firms, including ARK Invest, could receive approval simultaneously, depending on their filing specifics.


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    Bralon Hill

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  • Shiba Inu soars 21% in a week, becomes 18th largest cryptocurrency by market cap

    Shiba Inu soars 21% in a week, becomes 18th largest cryptocurrency by market cap

    Shiba Inu (SHIB), the second largest memecoin, is now the 18th largest cryptocurrency based on market cap, climbing ahead of Litecoin and Dai with its massive 21% growth since last week. 

    SHIB’s market cap currently sits at over $5.88 billion, with a $50 million lead over its nearest competitors in the market. The memecoin’s trading volume has also soared in the latest bull run, with a 132% increase in the past 24 hours. On Binance alone, the SHIB and USDT pair recorded a 26% increase in trading volume since yesterday. 

    Source: CoinMarketCap

    The token’s significant growth is heavily driven by its recent burn rate. Yesterday, around 8.2 trillion SHIB tokens were burned in a single transaction. However, Shiba Inu is not the only memecoin enjoying a significant rally. PepeCoin is up by 45% weekly, recording the sixth-highest weekly gain in the entire market. 

    Leading memecoin DOGE also recorded a 25% weekly growth, reaching almost the same price as last year on its anniversary. 


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    Mohammad Shahidullah

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  • Bitcoin, Cardano, Ethereum show bull market setup: analyst

    Bitcoin, Cardano, Ethereum show bull market setup: analyst

    The crypto analyst who runs the YouTube channel Crypto Capital Venture says he remains extremely bullish on Bitcoin and the wider crypto market, but cautioned viewers not to get overly excited amid the latest price surge.

    “I’m bullish. I’m so bullish,” the analyst, who goes by the name Crypto Capital Venture, stated in a live YouTube video on Sunday.

    If you’ve been watching my YouTube channel, you know, this is, if we go to the Bitcoin chart zoomed out, you know that on the weekly, on Bitcoin chart, come maybe January, the beginning of this year, January, 2023, I was saying the worst of it is over, 2022.

    The analyst believes, based on studying past market cycles, that 2022 marked the bottom of the latest crypto bear market. He says Bitcoin (BTC) and other major cryptocurrencies appear poised to enter their next bull cycle, which he predicts could see prices explode to new all-time highs.

    That year before the recession, that’s based off of decades and decades of macroeconomic data, right? And so that has played out really well. And we’re getting very close to the next bull market. We really are. In terms of where we are this cycle, you can just see it.

    The analyst explained that similar price spikes have occurred in past market cycles, only to be followed by sharp pullbacks. The analyst says he would not be surprised to see Bitcoin revisit lower support levels around $30,000 to $35,000 in the coming weeks.

    The analyst highlighted some key differences with this market cycle, including growing institutional interest and the possibility of SEC approval for a Bitcoin spot ETF in 2023. In his view, these developments could fuel dramatically higher prices both before and after Bitcoin’s next halving event in spring 2023.

    The analyst remains upbeat on the long-term outlook, stating multiple times that he expects this bull cycle to bring “the most fun we’ve ever had” tracking the crypto markets. For now, though, he preaches exercising patience and discipline amid the volatility.


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    Adrian Zmudzinski

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  • Analyst sees potential XRP breakout

    Analyst sees potential XRP breakout

    In his daily YouTube video posted on Dec. 4, the crypto analyst behind the popular CryptoTV channel predicted that several top cryptocurrencies are poised for a major breakout.

    The analyst pointed to recent price action in assets like Bitcoin (BTC), Ethereum (ETH), and XRP as early confirmation that the anticipated rally is underway.

    As you guys can see across the board with these cryptos, we are breaking out.

    Specifically, the analyst believes Bitcoin could continue running higher after two days of closing above what he identifies as a key “ascending fractal” resistance level. However, he cautions that Bitcoin is nearing overbought territory on the relative strength index (RSI).

    Similarly, in the analyst’s view, Ethereum exhibits a bullish setup following two daily closes above a “major price ceiling.” He says he has taken a leveraged long position in Ethereum to capitalize on this move.

    The analyst seems most enthusiastic about the prospects for the XRP token. He highlights how XRP appears to be breaking out from a “bull flag” technical pattern that has preceded major uptrends multiple times over the past year.

    If history repeats, the analyst suggests XRP could ascend to price targets soon. Still, he notes the journey higher may be volatile given XRP’s tendency for “major swings” in price action.

    We are easily expecting prices to hit 70, maybe even 83 cents with ease on XRP. So keep your eyes peeled on this because this is the breakout.

    Overall, the crypto analyst cites improving technical indicators and breaking of key overhead resistance levels as reasons he foresees sustainable uptrends ahead across the crypto market.


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    Adrian Zmudzinski

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  • Crypto investors are falling into a trap: analyst

    Crypto investors are falling into a trap: analyst

    In a recent video, the analyst behind the popular Crypto Banter channel warned viewers that crypto investors are currently falling for “one of the biggest traps ever.” However, he also outlined a scenario in which Bitcoin could be on the cusp of a major breakout.

    It’s the oldest trick in the book. […] I’m gonna outline why you should not fall for that trap and how you can identify what it may look like.

    The potential trap relates to the relative strength index (RSI), a technical indicator that measures the momentum and velocity of price changes in an asset. The crypto analyst explained that many retail investors mistakenly view low RSI readings as a sign of weakness and an indication to exit positions.

    However, the analyst believes this is a misunderstanding of what low RSI levels signify. Looking back historically, some of Bitcoin’s (BTC) largest rallies have kicked off after the RSI dipped into oversold territory below 30.

    It’s not a sign of weakness. It’s not a sign of exhaustion. It’s a sign of strength within the market.

    In addition to presenting a bullish case based on historical RSI trends, the analyst also pointed to MicroStrategy’s recent $750 million Bitcoin purchase as a potential catalyst. MicroStrategy’s buy marked its third largest Bitcoin acquisition ever.

    The analyst believes there are parallels between current conditions and previous instances when significant institutional purchases helped ignite further buying and price rises. If history repeats, a surge of “institutional FOMO” could be on the horizon.

    While laying out his bullish scenario, the analyst acknowledged Bitcoin could see a pullback first after failing to clearly break out above $40,000. But he expects any retracement to be limited before the uptrend resumes.

    As always in crypto, there are bullish and bearish cases to consider. But this analyst in particular sees the stars aligning for Bitcoin to leave what he believes is “one of the biggest traps ever” in the dust as it embarks on its next major rally.


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    Adrian Zmudzinski

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  • K33 Research: Crypto markets remain steady despite Binance-DOJ settlement

    K33 Research: Crypto markets remain steady despite Binance-DOJ settlement

    The crypto market, led by Bitcoin and Ether, has shown resilience following the U.S. Department of Justice’s $4.3 billion settlement with Binance, amidst varied reactions across different crypto assets and exchanges.

    In a Nov. 27 development, the cryptocurrency market has shown resilience despite the U.S. Department of Justice’s (DOJ) settlement with Binance, one of the world’s leading crypto exchanges. The settlement, addressing allegations of money laundering, fraud, and sanctions violations, concluded with Binance agreeing to a $4.3 billion fine – a record in corporate settlements in the U.S.

    K33 Research analysts Vetle Lunde and Anders Helseth point out that this settlement differs significantly from the FTX collapse, emphasizing that Binance’s issues were primarily regulatory and did not involve customer fund mismanagement. This distinction, they argue, minimizes the risk of contagious effects within the crypto industry.

    Market reactions have been varied. Bitcoin (BTC) and Ether (ETH) have remained relatively stable, with modest increases of around 6% and 5%, respectively, since Nov. 21. However, Binance’s own token, BNB, experienced a notable decline of nearly 14% in the same period. This could reflect investor concerns about Binance’s future operations and market position.

    Decentralized exchanges like Uniswap have benefited, as indicated by a 20% rise in its UNI token. This trend suggests a growing investor interest in alternatives to centralized exchanges like Binance.

    Despite legal challenges and a declining market share, Lunde and Helseth argue that Binance is not likely to disappear from the crypto scene. The exchange still maintains a significant user base and remains the largest by trading volume, indicating its continued relevance in the crypto market.

    On the institutional side, the Chicago Mercantile Exchange (CME) has seen signs of profit-taking in Bitcoin futures. Substantial long exposure and high premiums were observed initially, but a recent reduction in open interest suggests that some large traders are cashing out.


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    Bralon Hill

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  • Analyst believes Bitcoin to go ‘parabolic’ soon

    Analyst believes Bitcoin to go ‘parabolic’ soon

    In a recent YouTube video, George, the crypto analyst behind the CryptosRUs channel shared his bullish Bitcoin price predictions. He believes Bitcoin is poised to continue trending upwards based on improving fundamentals and favorable market conditions.

    Specifically, George cited an analysis from Standard Chartered Bank, which has over $500 billion in annual revenue. Their analysts predicted Bitcoin reaching $120,000 by 2024 for two key reasons — supply shocks from Bitcoin (BTC) miners holding more coins post-halving and increased demand from spot Bitcoin ETF approvals.

    It always comes down to supply and demand, supply and demand, right? And demand keeps on going up, spot Bitcoin ETFs will bring more demand, and then supply for Bitcoin keeps going down.

    The crypto analyst points to charts showing Bitcoin’s recent 33-day uptrend and forming higher highs and higher lows. He gives a “75% probability” that Bitcoin ends 2023 between $40,000 and $45,000, calling the current minor pullback just “moving according to plan.”

    Other positive metrics George highlighted include a parabolic indicator flipping green right before previous Bitcoin rallies, all-time highs in addresses holding the minimum threshold of Bitcoin, and surging open interest in Bitcoin futures and options.

    I don’t know how anyone can be bearish.


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    Adrian Zmudzinski

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  • Tether whale received $1.1b USDT since October, buoying bullish speculation

    Tether whale received $1.1b USDT since October, buoying bullish speculation

    Tether CEO Paolo Ardoino said a recent massive mint at the company’s treasury was intended for inventory purposes, while crypto proponents surmised a bullish thesis due to whale activity with USDT.

    Whale Alert pointed to $1 billion USDT minted at Tether’s treasury on Nov. 22, propelling chatter among proponents around inflows to cryptocurrencies and rallying token prices as part of an upcoming bull run. 

    Responding to the news, Ardoino stated that the transaction was earmarked to support USDT liquidity on Tron’s blockchain. Ardoino noted that the amount would be designated for future issuance requests on Justin Sun’s decentralized network.

    At the same time, on-chain surveillance shop LookOnChain reported a particular crypto whale who has been the recipient of at least $1.1 billion USDT within a 30-day period, from Oct. 20 to Nov. 21.

    The whale has deposited some of these assets on exchanges like Binance, Coinbase, Kraken and OKX, likely to purchase cryptocurrencies available on these platforms. 

    This sort of activity is typically flagged as a bullish indicator and a signal that “smart money” is accumulating tokens ahead of significant price movements. USDT’s market cap was up to $88 billion at press time, a $20 billion increase since the start of 2023 according to Coingecko.

    crypto.news cited a report that said digital asset inflows in 2023 had surpassed levels seen throughout 2022, following an upturn in demand for crypto investment products. Coinshares noted the largest influx of money into crypto since July 2022. 

    Crypto prices have also experienced gains due to expectations that the Securities and Exchange Commission could soon approve a spot Bitcoin ETF, a development that experts say would bring billions into the Bitcoin (BTC) market. 


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    Naga Avan-Nomayo

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  • Analyst details potential BEAM price volatility

    Analyst details potential BEAM price volatility

    The price of Beam (BEAM), the native cryptocurrency of the Beam gaming network, has seen significant unpredictability in recent days according to a popular YouTube crypto analyst.

    In a video posted to the CryptoWorld YouTube channel on Nov. 20th, the analyst explained that BEAM had increased its price 11% in the last 24 hours before crashing back down. However, the analyst believes BEAM is positioned for another leg up after forming a head and shoulders pattern on the technical chart.

    The crypto analyst believes Beam is on the verge of a major price movement based on technical analysis. He stated that Beam has formed a head and shoulders pattern, which from a technical perspective suggests a crash is imminent.

    The analyst predicts the Beam price will crash from its current level of $0.0093 down to his target of $0.0083 within the next 3-4 hours. The analyst recommends traders “do it short and print money like a machine” to capitalize on this impending price drop.

    The analyst’s price target represents a significant loss from current levels. He recommended traders take a short position and “print money like a machine.”

    BEAM is the native cryptocurrency of the Beam gaming ecosystem, which is built and governed by the Merit Circle decentralized autonomous organization (DAO). The network aims to bring developers and gamers together to shape the future of blockchain gaming.

    The BEAM token serves multiple purposes on the network. It acts as a gas token to pay for transactions and interactions with smart contracts. BEAM also gives holders governance power over the Merit Circle DAO.

    The analyst’s BEAM price target comes amid growing enthusiasm around blockchain gaming. However, the extreme volatility highlights the risky nature of cryptocurrency investments. Traders should exercise caution and only risk capital they can afford to lose.


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    Adrian Zmudzinski

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  • Double-edged sword: massive gains or collapse for XRP?

    Double-edged sword: massive gains or collapse for XRP?

    A recent YouTube video by crypto analyst Austin Hilton highlights a potential watershed moment for XRP that could dramatically impact the cryptocurrency’s future.

    The catalyst is the staggering $33 trillion national debt held by the United States government. While a default is unlikely, the compounding debt is likened to a “death spiral scenario.” Analysts have warned this precarious financial position could lead to a collapse of the U.S. monetary system.

    Bitcoin is often viewed as a “flight to quality” asset in times of economic turmoil. Investors fleeing stocks and fiat currencies tend to pour money into scarce digital assets like Bitcoin (BTC) and Ethereum (ETH). As the flagship cryptocurrency, Bitcoin typically benefits first, followed by Ethereum and major altcoins like XRP.

    While a collapse would likely drive investment into cryptocurrencies, Hilton cautions this would have disastrous consequences globally. A failing U.S. economy hurts everyone, but noted investor Ray Dalio has suggested Bitcoin could serve as a haven amid impending economic doom.

    Hilton explains this is a double-edged sword for XRP. A monetary crisis would spur massive inflows and gains, but could also destabilize societies and economies worldwide. Recent inflation has already drained over $2 trillion from the crypto market cap. Further economic deterioration may only exacerbate crypto’s woes.

    Yet if the economy holds, upcoming developments like a spot Bitcoin ETF and the next Bitcoin halving event could also ignite XRP’s price independent of any financial system turmoil. Hilton believes XRP remains undervalued regardless, given the utility of Ripple’s payments network.

    In the near-term, money appears to be cycling back into crypto from stocks. Bitcoin and Ethereum have seen gains, while XRP trades sideways around resistance. As capital returns it flows first into established assets like Bitcoin before trickling down into altcoins.


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    Adrian Zmudzinski

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