As September, often seen as a negative month for Bitcoin, kicks off, a crypto expert has pointed out that the digital asset is at risk of experiencing extended selling pressure amid recent market volatility and uncertainty. Recent data suggests that negative sentiment is growing, as more investors may want to sell their BTC in response to the turbulent market conditions. Will Bitcoin Undergo An Extended Selling Pressure? In a pessimistic research, Ali Martinez, a popular market analyst and trader, underscored a trend of continued selling pressure for Bitcoin, the largest cryptocurrency asset. Related Reading: Bitcoin Price Pulls Back: Will Bulls Conquer the Selling Pressure? Martinez bases his projections on the Bitcoin Short-Term Holder Realized Price, noting a prolonged bearish movement around the metric, particularly in the past two months. The development has caused speculation within the crypto community about the coin’s prospects in the short term. It is worth noting that the behavior of recent Bitcoin purchases can be estimated using the Short-Term Holder Realized Price. Given their increased propensity to sell should the price drop below their entry point, the metric serves as resistance during downtrends. According to the expert, Bitcoin has struggled to rise over this level since 2022, currently at the $63,250 price mark. Therefore, until the crypto asset takes back this region as a support range, Martinez is confident that there is a chance that selling pressure will persist, suggesting a negative behavior for BTC in the short term. Particularly, if key support levels are broken, there may be more price drops for BTC due to this selling pressure. Thus, the market expert has urged investors to be extra vigilant during times like this, which could lead to further losses in the market. If this September produces a bearish outlook for BTC, the development could catalyze this selling pressure due to the negative movement of digital assets in the month in the last 10 years. BTC’s Warm Supply Realized Price Level At $60,000 While the short-term holder realized price is demonstrating a pessimistic trend, Martinez, considering the Warm Supply Realized Price for BTC, highlighted a potential start of an extended bear market in another post on the X (formerly Twitter) platform. Related Reading: Bitcoin Spot-Perpetual Gap Points To Continued Selling Pressure – Analyst When Bitcoin rises above the warm supply realized price, it indicates a positive sign for growth. Meanwhile, when it falls below the level, it suggests a prolonged bear market shortly. This level, according to Martinez, is at $66,000 at the moment, and should BTC remain below the level, Martinez stresses a strategic approach for bulls, implying a potential broader bearish sentiment. The market’s capacity to take in selling activity without witnessing large price decreases will be a crucial determinant of BTC’s near-term direction as traders and investors exercise caution. Featured image from Adobe Stock, chart from Tradingview.com
The latest price moves in bitcoin (BTC) and crypto markets in context for Sept. 2 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Strengthened US economic data may lead to increased sensitivity in crypto markets, impacting investment strategies and interest rate expectations.
The post Bitcoin funds see $319 million in outflows as US economic data strengthens appeared first on Crypto Briefing.
The host of the channel The House of Crypto opened up about the cryptocurrency market and how he expects a brief selloff, possibly leading to more alarming headlines, but believes that Bitcoin will start to recover soon after. In the latest analysis video, the host addressed a common belief that September is often a “red …
One of India’s leading crypto trading platforms WazirX, was severely affected by a $235 million hack in July 2024. In response, the company has announced the intention to reorganize crypto balances and to find a white knight to stabilize the plat and provide the necessary amount of money for healing. This information was revealed during …
With the ongoing cryptocurrency market turmoil, the price of Bitcoin has plunged below the $58,000 level. This highlights increased selling pressure for the largest crypto in the market. Following its footsteps, top altcoins have displayed a similar price action by experiencing a significant drop in their respective portfolios over the past few days. Dive in …
Tigran Gambaryan, a Binance executive and former United States federal agent was detained for alleged financial crimes amounting to $34 million relating to Binance’s operations in Nigeria. At the end of August, after he spent six months in detention in the African nation, there was an increased industry outcry for his release. Gambaryan’s legal trial …
CoinShares expects that crypto investment products will become “increasingly sensitive” to interest rate expectations in September.
Energy rivalry between Artificial Intelligence and Bitcoin mining is heating up. As tech firms improve AI, they compete with Bitcoin miners for energy. This competition reshapes US energy consumption, as both sectors have driven unprecedented electrical demand. Related Reading: Elon Musk Wins Legal Battle Over $258 Billion Dogecoin Price Manipulation AI data centers are leading […]
NFTs saw a sharp decline in August 2024, with monthly sales dropping to $374 million—the lowest this year.
This week's slew of U.S. economic data will determine whether the dollar continues to weaken, offering a tailwind to BTC and other risk assets.
Pro-XRP crypto commentator BarriC has set the XRP community abuzz with a bold declaration: XRP’s long-awaited bull run will kick off in just 30 days. He is bullish on XRP and suggested that its current underperformance is temporary. Analysts are sounding the alarm—XRP’s low-price window is closing fast! Now is a good time to accumulate …
A new Legend of Zelda game leads September's most anticipated video game releases, with Astro Bot and Space Marine 2 also worth a look.
NEAR Protocol’s cross-chain signing feature will allow users on multiple blockchains to transact with Libre’s selection of tokenized credit and hedge funds.
August hit decentralized finance (DeFi) hard, with fees dropping by 24.4% from July, the largest fall since February. DeFi protocols, not including base layers, collected $288.38 million in fees for the month. Lido topped the list with $76.18 million, followed by Uniswap, Jito, and PancakeSwap. According to market researcher Nick Ruck, the drop in fees …
Polkadot, a blockchain protocol that connects with different blockchains has announced a big partnership with Inter Miami, a major football club. Following the break out of this news Polkadot native token DOT price saw a surge to $4.38. Meanwhile, James Slusser a senior ambassador for Polkadot explained in an interview with Refresh Miami that this …
Within the lase days a significant shift has been observed among Ripple (XRP) whales, who are now turning their attention to a new gambling token, Mpeppe (MPEPE), priced at a mere $0.00177. This migration highlights the growing interest in Mpeppe as a potential high-return investment, especially for those who have traditionally held Ripple (XRP). Ripple […]
Amid multiple alleged money laundering charges, the Nigerian government claims that Binance was responsible for the decline of its naira currency.
The United States Securities and Exchange Commission (SEC) has expressed reservations regarding the repayment strategy proposed by the bankrupt crypto exchange FTX, indicating potential legal challenges if the plan involves the distribution of stablecoins to creditors. The SEC’s concerns were documented in a filing with the United States Bankruptcy Court in Delaware dated August 30, […]
As the artificial intelligence (A.I.) industry continues to expand, certain cryptocurrencies like Render (RNDR) are making significant strides, capturing the attention of both retail investors and whales alike. Recent data shows that Render (RNDR) has been gaining momentum, particularly due to increased activity among its top holders. At the same time, a new cryptocurrency, Mpeppe […]
September is often a tough month for Bitcoin, with its price seeing a drop of 2% at the start of the month. According to crypto analyst Crypto Jelle Bitcoin has struggled during this month, with an average return of 4.5% and peak drawdowns that can be much more severe. Despite September’s struggles, analysts see the …
The cryptocurrency market is always in flux, with new tokens and blockchain networks emerging to challenge the status quo. Recently, a significant movement has been observed among Sui (SUI) investors, particularly the so-called “whales” who hold large amounts of Sui (SUI). These influential players are increasingly turning their attention to a new cryptocurrency that promises […]
Crypto whales have always played a crucial role in driving market movements. Recently, Ethereum (ETH) whales, holding an impressive $19 million in assets, have made a significant move by entering a new ICO priced at just $0.00177. This move has piqued the interest of the broader crypto community, especially as Ethereum (ETH) faces its own […]
Ethereum (ETH), often regarded as the backbone of decentralized finance (DeFi), continues to draw attention from investors worldwide. Recently, an ETH millionaire made headlines by doubling their Ethereum (ETH) investment into a new cryptocurrency, Mpeppe (MPEPE), which is being touted as a potential 100X gain opportunity. This bold move highlights the growing confidence in emerging […]
August 2024 was a very eventful time in the cryptocurrency industry where multiple major hacks were recorded and according to the latest peckshield report, the industry lost $313.86 million in the process. The five most common incidents were largely rooted in phishing and unauthorized transfers and exposed the biggest weaknesses of the crypto market. Largest …
Solana (SOL) has been one of the standout performers in the cryptocurrency market, known for its high-speed transactions and low fees. However, recent market dynamics have raised concerns about its future trajectory. As the broader market faces bearish pressure, Solana (SOL) is not immune to the downturn. This article delves into the current state of […]
As Tron (TRX) continues to navigate through a turbulent market, the entry of whale investors into the new cryptocurrency Mpeppe (MPEPE) signals a potential shift in investment strategies. The TRX market has been buzzing with recent developments, especially following the jaw-dropping success of a trader who turned a $1,200 investment in a TRON-based meme coin […]
Floki (FLOKI) has recently taken a hit, leaving its investors in a state of concern. With the token dropping by 20% in recent trading sessions, many are beginning to question its long-term potential and whether better opportunities lie elsewhere. The FLOKI community is now engaged in a heated debate over the future development of the […]
BTC price performance starts September off in the standard way — but not every Bitcoin market take is bearish on what comes next.
Meme coins have continued to capture the attention of investors, thanks to their high potential for exponential gains. Among the most talked-about presales in 2024 are PlayDoge (PLAY) and Mpeppe (MPEPE), two meme coins that are quickly gaining traction as top contenders for the most promising investments of the year. Why PlayDoge (PLAY) is Turning […]