Beercoin, the effervescent Solana-based meme coin that promised a taste of financial freedom, is experiencing a hangover of epic proportions. After a meteoric rise in price earlier this month, Beercoin has come crashing down, plummeting by nearly 70% in a matter of days. This dramatic decline reflects a confluence of factors, including a broader crypto market correction, a hawkish Federal Reserve stance, and a concerning trend of insider selling. Related Reading: Metrics Signal Bitcoin Price Increase – But When Is Anyone’s Guess Fed Tightens The Taps The Federal Reserve’s recent decision to adopt a more hawkish monetary policy, prioritizing inflation control over economic stimulus, has cast a dark cloud over the entire cryptocurrency market. Bitcoin, the bellwether of the industry, dipped below $66,000 this week, dragging most altcoins down with it. This shift in central bank policy is particularly detrimental to highly speculative assets like meme coins, which thrive on easy money and investor exuberance. Meme coins, often lacking real-world utility or established fundamentals, are seen as the first to be dumped when risk aversion creeps into the market. Whales Jump Ship Adding fuel to the fire of Beercoin’s descent is a troubling trend of insider selling. Onchain analysis by LookOnChain revealed that several individuals with significant holdings, likely early investors who acquired Beercoin at a discount during pre-sales, have recently cashed out in large quantities. Another wallet related to the #beercoin team sold 5.43B $BEER for $1.13M! Although it has been transferred many times, we traced that the wallet received $BEER directly from the #beercoin team wallet “7yfvQX…o9v394” and “8VY4LF…fDd5G2”.https://t.co/vElDToYi5C pic.twitter.com/oYp41d3Naz — Lookonchain (@lookonchain) June 16, 2024 This mass exodus by insiders, who presumably possess a deeper understanding of Beercoin’s potential or limitations, raises serious red flags for retail investors. Their actions can be interpreted as a loss of confidence in the project, potentially signaling that Beercoin may not be the golden ticket to riches it was initially touted to be. Technical Indicators: Frothy Future Technical analysis, the study of price charts and historical data to predict future market movements, paints a similarly grim picture for Beercoin. The token has not only fallen below a key support level, but it also continues to trade beneath crucial moving averages, technical indicators used to gauge momentum and identify potential trend reversals. BEER Price Prediction Meanwhile, the current BEER price prediction suggests a significant upward trajectory, anticipating a 220% increase to $0.0₁₀5119 by July 18, 2024. Despite this optimistic forecast, technical indicators show a bearish sentiment, indicating potential caution among investors. The Fear & Greed Index is at 74, which denotes high levels of greed in the market, suggesting that the current bullish outlook may be driven by overenthusiastic sentiment rather than solid fundamentals. Related Reading: XRP Whale Goes On Shopping Spree: 27 Million Coins Snapped Up As Price Dips Over the past 30 days, BEER has experienced an unusual trend, recording 100% green days with zero price volatility, an anomaly in typical market behavior. This consistent upward movement without any fluctuations may indicate a highly manipulated or illiquid market. Featured image from Health | HowStuffWorks, chart from TradingView
HashKey Group's HSK token is set for Q3 2024 listing with an ecosystem-boosting airdrop and strategic token burns for value.
The post HashKey set to airdrop HSK tokens this June appeared first on Crypto Briefing.
Over $400 million in crypto longs were liquidated in the past 24 hours as major tokens slid as much as 10%.
Bitcoin-based NFTs recorded a sales volume of $148 million in the last 30 days, according to CryptoSlam.
Learn about the devastating “infinite mint attack” in cryptocurrency. Understand how hackers exploit vulnerabilities to create unlimited tokens, causing massive inflation and price crashes.
The post Insider Buys $1.56M in $DJT Tokens Ahead of Trump Launch News appeared first on Coinpedia Fintech News
A fresh wallet, potentially an insider, spent 1,363 $SOL ($188K) to buy 52.09M $DJT tokens just before the news of Trump’s official $DJT token launch on Solana. Following the news, the wallet withdrew another 1,000 $SOL ($138K) from Binance to purchase an additional 6.62M $DJT. This wallet now holds 58.71M $DJT, valued at $1.56M, making …
The latest chart analysis by crypto analyst @Cryptobilbuwoo0, published via X, offers a compelling narrative for XRP’s potential upward trajectory when juxtaposed against the total cryptocurrency market capitalization. The analyst emphasizes key technical indicators and historical patterns, suggesting that XRP might be on the brink of a significant bullish phase. XRP Price Poised To “Bounce” The XRP/Total chart primarily illustrates a descending trajectory that began forming from its early 2018 peak. This overarching downtrend is marked by successive lower highs that articulate a consistent descending trendline. Moreover, @Cryptobilbuwoo0 highlights the ‘Bounce Back Line,’ a horizontal support line that has historically acted as a crucial reversal point for the XRP price action. The chart shows several instances where the price of XRP, upon reaching this line, has rebounded dramatically. Related Reading: Crypto Analyst Predicts XRP Price Will Rally 102,590% To $500, But There’s A Catch The last instance of XRP interacting with the “Bounce Back Line” was on December 28, 2020. Following this touchpoint, the price soared over 1,100%, climbing from $0.18 to $2. Earlier, on February 27, 2017, XRP escalated from just under $0.02 to $3.35 within 10 months. Currently, XRP is once again nearing the “Bounce Back Line.” Given the historic outcomes following support from this level, the analyst predicts another significant rally may be on the horizon. The chart analysis further deepens with a nuanced look at the Relative Strength Index (RSI) and the Wavetrend Indicator (WT Krypt), which are pivotal to understanding the market’s momentum and potential reversals. The 14-day RSI is currently nearing 31, approaching the oversold territory which historically signals a buying opportunity or a trend reversal. This is evident in the past markings on the chart, where similar RSI levels have coincided with the “Bounce Back Line” and substantial upward price movements. The Wavetrend Indicator, used for spotting the start and end of cycles in the cryptocurrency’s price, has shown several bullish signs. Bullish divergences have been a critical focus, occurring when the price of XRP makes new lows while the indicator does not follow suit, suggesting a decrease in downward momentum. Moreover, the recent crossover of the Wavetrend lines (red crossing over blue) is typically interpreted as a bullish entry signal, indicating potential upward price movement. Related Reading: XRP Whale Goes On Shopping Spree: 27 Million Coins Snapped Up As Price Dips In addition to the primary indicators, the analyst has annotated the chart with past price actions and highlighted areas and patterns, such as bullish divergences. These annotations serve to emphasize significant trading zones and anticipated trend shifts based on historical data. The marked sections of the chart indicate that each time similar conditions were met, there followed a significant increase in the XRP price, reinforcing the bullish outlook presented in the current analysis. @Cryptobilbuwoo0’s analysis suggests that XRP, currently positioned at a historically significant price level and supported by bullish indicator signals, is poised for a potential breakout. This outlook is bolstered by the RSI nearing oversold conditions and the positive signals from the Wavetrend Indicator. If the historical pattern repeats, the crypto asset could see a substantial rally, affirming the analyst’s perspective: Looking at the XRP/Total chart, XRP has always risen significantly from the rebound line. Indicators are also calling the bulls. XRP always moves alone like a maverick. XRP’s showtime begins. At press time, XRP traded at $0.49. Featured image created with DALL·E, chart from TradingView.com
The post DJT Token Soars 180% on Trump Rumors While PoliFi Tokens Plunge 10% appeared first on Coinpedia Fintech News
Breaking or Bait? Donald Trump might be rolling out his own DJT token on Solana Blockchain. If true, this marks the first major party candidate to create a cryptocurrency! Will Trump launch a crypto? However, skepticism remains high. If Trump does indeed launch a coin (which feels very non-zero), or if DJT is it – …
Quick Take Farside data shows that on June 17, Bitcoin (BTC) exchange-traded funds (ETFs) experienced another day of significant outflows, totaling $145.9 million. This marks the third consecutive trading day of outflows and the fifth outflow in the past six trading days. The largest outflow was from Fidelity’s FBTC, which saw a $92.0 million reduction, […]
The post Third straight trading day of Bitcoin ETF outflows: $145.9M pulled appeared first on CryptoSlate.
The post Crypto Market Crash Today: Bitcoin Price Hits One-Month Low Amid $600M Digital Asset Outflows appeared first on Coinpedia Fintech News
Bitcoin has touched a one-month low as outflows from digital-asset investment products, and the potential for prolonged high US borrowing costs weigh heavily on the cryptocurrency market. BTC fell as much as 2.1% today (June 18th, 2024), reaching levels last seen in mid-May before stabilizing. Shocking! Significant Outflows from Digital-Asset Products According to data from …
The post Binance Announces Major Altcoin Listing appeared first on Coinpedia Fintech News
The world’s largest crypto exchange, Binance, had added new trading pairs, such as FDUSD, USDC, and USDTon cross margin and isolated margin. The Exchange added new trading pairas for a few altcoins, including SATS (1000SATS), dogfight (WIF), Notcoin (NOT), Bonk (BONK), zkSync (ZK), and Floki (FLOKI). The cross-trading pairs are 1000SATS/FDUSD, BB/FDUSD, BONK/FDUSD, ETHFI/USDC, FIRO/USDT, FLOKI/FDUSD, NOT/FDUSD, PEOPLE/FDUSD, …
The post Solana Plunge Below $140 As Bearish Trend Intensifies! SOL Price To Retest $130 Soon? appeared first on Coinpedia Fintech News
The cryptocurrency market has started this week on a strong bearish note, resulting in top tokens recording significant correction in their respective portfolios. Moreover, following the market correction, the market leader, Bitcoin price, has failed to hold its value above the $66,000 mark. On the other hand, the Solana price has lost approximately 7.13% within …
FTX's victims are seeking a court hearing to rule on their claim that all the failed crypto exchange's forfeited assets, about $8 billion, belong to its customers, not the bankruptcy estate.
Apart from Uphold, other major crypto exchanges, including Binance, Kraken and OKX, also tweaked their stablecoin listing policies to comply with MiCA regulations.
Bitcoin (BTC), the largest cryptocurrency on the market, has again taken the lead in the crypto landscape. However, this time it comes with a sense of caution among investors triggered by macroeconomic data, particularly from the United States. In addition, the resulting outflows of over $600 million from the primary market of the digital asset ecosystem, as reported by asset manager CoinShares, have raised concerns about potential price corrections shortly. Against this backdrop, renowned analysts and technical experts have weighed in to share their insights and predictions on Bitcoin’s future trajectory. Crypto Experts Warn Of Looming Bitcoin Correction Crypto analyst Timothy Peterson, in a social media post on X (formerly Twitter), highlights Bitcoin’s substantial 65% rise over the past six months. However, based on ten years of historical data, Peterson suggests a 90% probability that BTC will experience a 10-20% decline in the next 90 days, taking the BTC price below the key $60,000 threshold. On a more optimistic note, Peterson noted that there is also a two-thirds chance that Bitcoin will finish the next three months with a 50% increase. This projection places the median Bitcoin price path at $65,000, followed by $52,000, and potentially reaching $98,000 by October. Related Reading: Ethereum Foundation Moves $64.4 Million Worth Of ETH, Is This A Dump? Supporting these predictions, technical analyst Rekt Capital points out that Bitcoin tends to form clusters of price action near the resistance range high above $71,600. Historical patterns indicate that these clusters often precede downside moves, leading to lower levels within the range. In line with Peterson’s analysis, this correction could potentially take Bitcoin’s price down to around $56,000, similar to the previous correction observed after its all-time high of $73,700 in March. BTC’s Post-Halving Trajectory On Track? Rekt Capital further emphasizes that Bitcoin trades within its normal re-accumulation box following the Halving event. This re-accumulation phase typically begins a few weeks before the Halving and concludes with a breakout months afterward. The analyst further shared that the current Re-Accumulation Range for Bitcoin is estimated to be between $60,000 and $70,000, with price fluctuations within this range. This phase aims to stabilize Bitcoin’s price, preparing it for the next cycle phase—the “Parabolic Phase.” Rekt Capital suggests that the Re-Accumulation phase can last several months, potentially up to 150 days. Upon breaking out of the re-accumulation area, Bitcoin enters a parabolic uptrend characterized by accelerated growth. Considering the timeline, the market is now two months after the Bitcoin Halving and the current price action aligns with previous 60-day post-Halving periods. Related Reading: This Altcoin Gem Will Overtake Solana, Predicts Arthur Hayes In summary, considering the scenarios presented by the analysts, BTC is anticipated to remain within its established range, possibly experiencing deeper corrections before embarking on an upward trajectory toward further price appreciation and the potential to reach new all-time highs. At the time of writing, BTC has exhibited a recovery in the past hour, witnessing an upward spike after hitting a Monday low of $65,000. Presently, it is trading at $66,800. Featured image from DALL-E, chart from TradingView.com
Fairlead's 12-week relative rotation graph shows signs of green shoots in XRP, LINK, ETH.
Bitcoin returns to $64,000 for the first time since mid-May as a BTC price rebound gets canceled out in hours.
The bitcoin market has been chilly during the last two weeks. The uncontested ruler of the cryptocurrency world, Bitcoin, has taken the brunt of the cold., experiencing its worst weekly outflow in three months at a staggering $621 million, according to a recent report by Coinshares, a digital asset investment firm. This isn’t just a […]
Few catalysts to prop up markets in the near-term are likely weighing down token prices, one trader said.
Drake's $500,000 Bitcoin bet on the Dallas Mavericks winning the NBA Finals has failed, and his similar wager on the Edmonton Oilers in the NHL Stanley Cup Finals is at risk, potentially leading to a total loss of $1 million in Bitcoin.
The post Drake’s $500K Bitcoin bet upset after Celtics take Mavs 4 to 1 appeared first on Crypto Briefing.
The data covered the “top 10,000 addresses” that received zkSync’s new ZK token, though that only makes up 1.4% of the total wallets eligible for the ZK airdrop.
Shiba Inu competitor FLOKI has been one of the best performers this year and continues to maintain a high level in the market. Its price has more than doubled in 2024, prompting an influx of new investments into the meme coin. However, as investors throw money at FLOKI, one analyst expects this increase to be short-lived, predicting a massive price crash for the altcoin. FLOKI Poised For A Rally And Then A Dump Crypto analyst iMoneyTeam has predicted a dump for the FLOKI price that could erase all of the meme coin’s gains from the last few months. The analysis, which was posted on the TradingView platform, tracks the movement of FLOKI over the last few months in a bid to predict where the price is headed next. As the crypto analyst explains, the price has reached a “bearish iCH” in the internal structure, which has created “an internal pullback,” depicted on the chart below. Related Reading: Shiba Inu’s Shibarium Sees Triple-Digit Surge Across Major Metrics, What’s Going On? This is evident in the price pullback that has rocked the meme coin in the month of June so far. However, where a recovery is usually expected for an asset in this situation and a continuation of the rally, the crypto analyst believes that it is a setup for further pullback. For now though, the analyst identifies that there is still a lot of bullish pressure on the meme coin. This comes even as its price has broken a trend line, which would usually be bearish. But in this case, the bullish pressure could help the price hold its position. From here, there could be a recovery in price toward new all-time highs. However, after this is when the real problem begins for the cryptocurrency. Multiple Targets For The Meme Coin Going by iMoneyTeam’s prediction, before the FLOKI price will crash, there will be an increase in price. The chart shows a recovery to as high a $0.00044, which is an almost 60% increase in the meme coin’s price at the time of this writing. However, following this, the crypto analyst expects the Shiba Inu competitor to hit a supply zone, which will begin its decline. Related Reading: Ethereum Foundation Moves $64.4 Million Worth Of ETH, Is This A Dump? Once the price starts to fall, the analyst expects the price to fall to as low as $0.00006. Now, from the current price of $0.00018, it would mean an 80% decline in price. However, if the price does hit a new all-time high price of $0.00044, as the analyst predicts before falling, then a crash to $0.00006 would mean an 86% decline. In terms of when this could happen, the crypto analyst does not give a timeline of events. However, the chart shows that the price would hit a demand zone around $0.00006, which would suggest that would be the bottom for the crash. Featured image from Asia Crypto Today, chart from Tradingview.com
The crypto market has been stirred by the emergence of a new meme coin named “Trump Coin” (ticker: DJT) on the Solana blockchain, bearing former US President’s initials. Launching with a reported market cap of $73 million according to SolScan, the coin’s legitimacy and provenance remain mired in mystery as the crypto community seeks clarity. […]
The post Bitcoin (BTC) Price Might Crash To $60K This Week: Here’s Why appeared first on Coinpedia Fintech News
Bitcoin continues to experience significant selling pressure, influenced by the Federal Reserve’s indication of maintaining higher interest rates longer than anticipated. This environment has led to substantial outflows from Bitcoin investment products, amounting to $620 million last week. Bitcoin ETFs, in particular, have faced heavy losses. Let’s analyze the BTC movement in the coming weeks. …
Crypto market analysts suggest the altcoin stumble may be tied to a recent spate of spot Bitcoin ETF outflow.
The post BAYC and Pudgy Penguins See Major Price Drops While Milady Shines appeared first on Coinpedia Fintech News
In the past 24 hours, NFT prices have sharply declined, with major collections like Bored Ape Yacht Club (BAYC) and Pudgy Penguins dropping below 10 ETH. Pudgy Penguins fell by 13.89% to 8.80 ETH, and BAYC dropped by 11.57% to 9.23 ETH. Adding to the turmoil, Pudgy Penguins face over 130 liquidation auctions on Blend. …
The post Bitcoin Price Prediction: How Low Might BTC Price Drop This Crypto Market Crash appeared first on Coinpedia Fintech News
With a 1.68% drop in the total market cap of the crypto world, Bitcoin continues to decline with a rise in supply pressure. Despite 90% of Bitcoin HODLers in profit, the downtrend warns of a steady decrease in this percentage. Further, almost $500 Million worth of long liquidation in the crypto market reveals a strong …
The post With $60K & $70K as Major Support & Resistance, Bitcoin Price Stands Around $65K: Here is What’s Next! appeared first on Coinpedia Fintech News
Another volatile weekly start, with BTC hitting the lows and altcoins bleeding heavily. It’s been a couple of months of Bitcoin halving, and the current price action seems to be similar to previous 60-day post-halving periods. It is speculated that the OG whales may have sold over 50,000 BTC in the past 10 days, worth …
Robinhood’s claim to fame in the crypto industry has been its meme coin offering to US trades, more specifically allowing Dogecoin trading in the meme coin boom of 2021. Since then, the platform has grown to become one of the most prominent for trading meme coins, and its Dogecoin balances have grown to the point […]
The post ‘Hold onto your altcoins, but don’t convert Bitcoin into Altcoins’: Here’s when your favorite alts will recover appeared first on Coinpedia Fintech News
Analyst George aka Crypto Rus took to his latest analysis video and commented that the market is currently stuck in a rut. Bitcoin briefly surged to $67,000 but quickly dropped back to $65,500, hinting at some volatility. However, he said that despite these fluctuations, Bitcoin remains strong, having recently been at $72,000 just 10 days …