Bitcoin price may be closer to the big milestone $100,000 mark than many realize as a looming banking crisis could see BTC become the new "safe haven asset."
Valentin Pletnev couldn't use his ticket for a Mar-a-Lago Trump gala, so prominent crypto figure Ryan Selkis went instead. Neither expected the U.S. policy whirlwind that followed, but even as Pletnev upgrades his DeFi platform to promote 'Yield for All,' it still won't be available in the country.
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Billy Markus has asked his 2 million X followers about what they are looking forward to most in the next five years. Markus expects to earn money with the help of AI in the future as the DOGE cofounder looks forward to robots doing his job and earning him passive income. An article was published …
Government interest in CBDCS was a knee-jerk reaction to the popularity of crypto and the rise of private stablecoins.
Bitwise Chief Investment Officer Matt Hougan released a compelling investor memo titled “Washington Awakens: This Is What Alpha Looks Like,” predicting a monumental shift in the crypto market influenced by changing regulatory landscapes, potentially surpassing the impact of BlackRock’s foray into Bitcoin and altcoins. This Crypto Development Is Bigger Than BlackRock In his memo, Hougan […]
An on-chain analyst has explained how Bitcoin is sitting like a coiled spring right now, a state the asset doesn’t usually stay in for too long. Bitcoin Short-Term Holder Sell-Side Risk Ratio Has Declined Recently In a new post on X, analyst Checkmate has discussed the recent trend occurring in the Sell-Side Risk Ratio for the Bitcoin short-term holders. The Sell-Side Risk Ratio here refers to an indicator that tells us about how the absolute profit and loss being locked in by the investors compares against the BTC Realized Cap. The Realized Cap is basically a measure of the total amount of capital that holders as a whole have used to purchase their coins, as determined by on-chain data. Related Reading: Bitcoin Not ‘Overvalued’ Yet, Says CryptoQuant CEO: Here’s Why Thus, the Sell-Side Risk Ratio, which takes the ratio between the sum of profit and loss with this initial investment, provides info about how the profit or loss-taking from the investors looks like relative to their cost basis. When the value of the indicator is high, it means the holders are realizing a large profit or loss right now. Such a trend may follow some sharp volatility in the asset’s price. On the other hand, the metric being low implies that investors are only selling coins close to their break-even level. This kind of trend could suggest profit or loss-takers in the market have become exhausted. In the context of the current topic, the entire market’s Sell-Side Risk Ratio isn’t of interest, but rather that of only a specific segment of it: the short-term holders (STHs). These investors are typically defined as those who acquired their coins within the past 155 days. The below chart shows the trend in the metric for this cohort over the past decade: As is visible in the graph, the Sell-Side Risk Ratio for the Bitcoin STHs had shot up to a very high level when the rally towards the new all-time high (ATH) had occurred earlier in the year. Historically, the STHs have shown to be the fickle-minded hands of the market, who sell easily at the sight of any FOMO or FUD in the sector. As such, it’s not surprising to see that these investors had ramped up their profit realization alongside the rally. Related Reading: Bitcoin Has Solid On-Chain Cushion Below $68,900: Stage Set For Fresh Rally? Since this peak, though, the indicator has gone through a steep decline as the price of the cryptocurrency has been stuck in endless consolidation. Following the drawdown, the metric has now returned to relatively low levels. It would appear that as the tight sideways movement has occurred, sellers among the STHs have seen exhaustion. “Bitcoin is coiled like a spring, and it usually doesn’t sit still like this for long,” notes the analyst. With the asset’s price surging to $71,000 in the past day, it’s possible that this unwinding may already be here. BTC Price Bitcoin has enjoyed an increase of around 3% in the past 24 hours, which has now taken its price to $70,900. Featured image from Dall-E, checkonchain.com, chart from TradingView.com
As part of the fundraising, M^0 has deployed its core protocol and on-chain governance mechanism on the Ethereum mainnet.
As the world races to regulate high-level AI systems, Switzerland is taking a more “tech natural” approach focusing on sector-based use cases, while still having a major voice on the global stage.
Lower interest rates in developed economies could be a tailwind for bitcoin prices.
The short-seller has targeted MicroStrategy previously.
Donald Trump’s crypto portfolio, as detailed by Arkham Intelligence, has seen a significant increase in value over the past three months, peaking at approximately $32 million due to a surge in memecoins. His holdings are diversified across several tokens, with notable holdings in TROG, TRUMP, ETH, and WETH. Trump’s largest holding is in the TROG […]
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As per data from Fintel, 82 ETFs have acquired MicroStrategy shares. The iShares Russell 2000 ETF (IWM) holds the largest position, with 362,846 shares with a substantial 12.02% increase from the previous reporting period. The second largest holder is the iShares Russell 2000 Growth ETF (IWO), which owns 129,094 shares. This reflects a 19.23% increase …
Promising simple setup and gasless transactions, the self-custody wallets is designed to work across networks and apps.
The Shiba Inu (SHIB) burn rate is again under the radar following a drastic decline in the number of tokens burned. This development is significant considering the impact that these token burns are known to have on the meme coin. Shiba Inu Burn Rate Crashes By Over 99% Data from the burn tracking website Shibburn shows that Shiba Inu’s burn rate has declined by 99.44% in the last 24 hours. Only 120,888 Shiba Inu tokens have been burned during this period, which is way low compared to the over 21 million tokens that were burned the previous day. Related Reading: Bitcoin Gets Massive $500,000 Price Tag From Billionaire, Here’s Why The instability in the number of Shiba Inu tokens burned daily continues to be a problem for the meme coin’s ecosystem. This issue is believed to be mainly due to the significant drop in the number of daily transactions on the Shibarium network. The layer-2 network is known to have contributed largely to the 76 billion Shiba Inu tokens that were burned last year. However, Shibarium hasn’t had much impact on these token burns since the start of the year with its daily transactions dropping from millions recorded last year to just a few thousand transactions as of late. This development has hindered the network from deploying a part of the transaction fees earned to Shiba Inu burns like it did last year. Meanwhile, while Shiba Inu’s burn rate has dropped by over 99%, a positive takeaway is that it has increased by almost 15% in the last seven days. This is undoubtedly a welcome development that members of the Shiba Inu community will be glad about. However, the focus remains on sustaining this trend, given the positive impact it could have on Shiba Inu’s price, especially heading into the latter stages of the bull run. SHIB Price Remains Unaffected Shiba Inu’s price is currently on an upward trend despite the decline in the burn rate. Data from CoinMarketCap shows that the meme coin is up over 8% in the last 24 hours. Shiba Inu’s trading volume is also up by over 7% in the last 24 hours, signaling investors’ bullish sentiment towards the meme coin. Related Reading: Dogecoin Social Sentiment Turns Bearish And Drops To March Levels, What This Means For Price On-chain metrics also paint a bullish picture for the meme coin. Data from the market intelligence platform IntoTheBlock shows that Shiba Inu whales have been accumulating the meme coin in the last few days. Specifically, on-chain analytics platform SpotOnChain revealed a whale that just recently acquired 149.3 SHIB tokens Meanwhile, the Shiba Inu ecosystem has experienced notable network growth, suggesting that new crypto investors are rotating their capital to the meme coin. Shiba Inu will likely continue to record an increased demand, with meme coins projected as one of the leading narratives in this bull run. Featured image created with Dall.E, chart from Tradingview.com
Both the Dogecoin and Shiba Inu prices have seen a bullish reversal in the last day, notching notable gains while at it. With no clear development from either camp as to what could be driving the recoveries, a broader market outlook might have the answer to it. Dogecoin And Shiba Inu Respond To Bitcoin The […]
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After Ethereum’s spot ETF approval, analysts have been speculating on the next crypto ETF. The BKCM CEO, Brian Kelly has forecasted that Solana could be the next crypto with a spot ETF. While Solana faces major regulatory hurdles, other experts like Adam Cochran see currencies like Litecoin as the next crypto ETF due to its …
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The BNB Chain ecosystem recorded a notable surge in activity, token values, and trading volumes. The BNB Chain tokens saw a 124% increase in trading volume in the past 24 hours. FLOKI led the way with 25% gains, while CAKE had a 15% increase. The BNB token hit a record price above $710. The rise …
Buterin responded to a post about Iggy Azalea’s Mother Iggy token potentially leading the celebrity crypto trend toward sustainable value creation.
Vitalik Buterin criticizes celebrity memecoin trend, outlines criteria for respectable projects that provide value to society and engage participants beyond trading.
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Bitcoin price is back trading above $70,000 after weeks of sideways price action. The recent boredom and sideways grind, however, isn’t necessarily a bad thing. In the past, such lulls in volatility have preceded the top cryptocurrency’s greatest rallies on record. Let’s take a look. Bitcoin Historical Volatility Reaches Record Low The term volatility often has a negative connotation surrounding it. For example, Oxford Languages defines volatility as the “liability to change rapidly and unpredictably, especially for the worse.” In financial markets, the term refers to how much and how fast price moves within a specific timeframe. To measure volatility, technical analysts use the historical volatility metric, which compares volatility across the entire existence of an asset’s price timeline. Using such a tool, analysts can compare and contrast past bouts of high or low volatility in an asset like Bitcoin. Related Reading: Bitcoin Price Soars Past $71,000: Here’s Why Turning this tool on in BTCUSD reveals that on the 2-week timeframe, the top cryptocurrency by market cap is coming off the lowest volatility phase in its entire existence. More importantly, however, is the fact that the last two times that BTCUSD was this boring, it led to an over 9,000% and over 2,000% rally. The most recent made Bitcoin a household name, rising from around $1,000 to nearly $20,000 at its peak in 2017. Now the signal is back, but what might this mean for the cryptocurrency market and holders who have waited through the recent sideways price action. Third Time Is A Charm: Can BTC Climb 200-500%? Volatility is cyclical in nature. After periods of high volatility and explosive price action, the market moves into a lull where prices move painfully sideways. When the sideways boredom ends, it usually ends with a bang and a return to the explosive price action that was evident before the lull. Volatility can also be measured and even predicted using “implied volatility.” But the direction in which the volatility releases cannot be predicted with accuracy. Considering volatility is most often associated with negativity, there’s at least some probability that the low in volatility could be broken by an extreme dump in Bitcoin. Related Reading: The Half-Million Dollar Bitcoin: Predictions Point To Monumental Price Surge In 18 Months But the last two instances suggest otherwise, and the recent trend has been up. While BTCUSD likely won’t see another 9,000% rally nor a 2,000% rally like it did in 2013 and 2017, the first-ever cryptocurrency could do anywhere from a 200% to 500% surge. At 200% and a price of $70,000 per coin, Bitcoin could end up peaking this cycle at around $140,000. At a 500% move from current levels, Bitcoin could reach $350,000 per coin. Higher multiples are indeed possible, but not probable considering the law of diminishing returns. Tony Severino, CMT is the author of the CoinChartist (VIP) newsletter. Sign up for free. Follow @TonyTheBullBTC & @coinchartist_io on Twitter. Or join the TonyTradesBTC Telegram for daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from ChatGPT, Charts from TradingView.com
Quick Take According to data from Fintel, 82 exchange-traded funds (ETFs) have acquired shares of MicroStrategy (MSTR). This data is current until May 30, 2024, and does not include the recent acquisition of over 4,000 MSTR shares by the iShares MSCI ACWI ETF, valued at $6.1 million. These reported values place them among the top […]
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According to plaintiffs, the six exchanges, which delisted Bitcoin SV in 2019, owe BSV holders $9 billion for missed opportunities.
KARM Legal Consultants founder Kokila Alagh said that the regulations clarify the issuance, licensing and supervision of AED-backed payment tokens.
As Project mBridge enters its MVP phase, BIS is inviting private sector firms to propose new solutions and use cases to further develop and showcase the platform's potential.
Paolo Ardoino, the CEO of stablecoin issuer Tether, warned on June 5 about a potential security breach involving an unnamed crypto mailing list provider. In a post on the social media platform X (formerly Twitter), Ardoino stated that his firm had received two independent confirmations suggesting a prominent vendor responsible for managing mailing lists for […]
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Crypto startups secured $777M from VCs in May, with blockchain infrastructure and Bitcoin's DeFi ecosystem attracting significant investments.
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The crypto industry is stepping up its political game ahead of the upcoming US elections. Leading the charge is Coinbase, the popular US-based crypto exchange, which has donated a whopping $25 million in USDC to the Fairshake Super PAC. This marks Coinbase’s second major contribution to the advocacy group, which aims to promote pro-crypto candidates. […]
In a video update, Miles Deutscher, a widely followed crypto expert, provided his 502,800 followers on X with an in-depth analysis of the current market conditions. This update came in response to what Deutscher described as “massive ramifications” for certain altcoins following a notable Bitcoin price surge. Deutscher began his discussion by pointing out a significant rally in Bitcoin’s price, which soared from $68,500 to over $71,000. This movement aligns with his observation of substantial inflows into Bitcoin spot ETFs, which he highlighted as nearly reaching $900 million in a single day. This figure is distributed across various funds, with Fidelity, BlackRock and ARK contributing the largest shares. “This is the highest inflow that Bitcoin has gotten since the major breakout in March,” Deutscher stated. He connected these inflows to a broader bullish sentiment in the market, suggesting that they indicate a robust institutional interest that had not been seen since Bitcoin’s previous highs around $74,000. Strategic Altcoin Play #1: BNB Ecosystem Shifting the focus to the altcoin market, Deutscher honed in on Binance Coin (BNB) and its associated tokens. He elaborated on BNB’s performance, noting its breakout to new all-time highs and its defiance of typical market gravity. He advised potential investors to consider entering positions after a definitive weekly close. Related Reading: Rumor Of Apple Partnership Sends Crypto Altcoin Soaring By 20% “When a coin is in price discovery, it’s often very hard to fade that coin. If you’re interested in a long here, wait for a close above on the weekly if you’re a higher timeframe trader, and then you have very clear invalidation for this next leg to the upside,” Deutscher said. In the BNB ecosystem, Deutscher pointed out specific tokens poised for growth, especially FLOKI and Cake. FLOKI, which gained the analyst’s nod as “one of the leading meme coins on the Binance Smart Chain,” has shown similar price actions to another meme coin, Pepe. Observing these patterns, Deutscher predicted a possible 20% upside potential for Floki following its breakout. Cake, known for its role as the largest DEX on the Binance Smart Chain, has started to show promise by reclaiming key support levels. “Cake is an interesting play. Because Cake, on the weekly chart, has been pretty unimpressive, but it’s now finally starting to show signs of wanting to reclaim that major support level, […], a reclamation of that level could send it to $5.” #2 Ethereum Is Ready To Surprise A significant portion of Deutscher’s analysis was dedicated to Ethereum and the speculative impacts of the upcoming spot Ether ETFs in the United States. He discussed how Ethereum’s potential underperformance relative to Bitcoin could set up a lucrative buying opportunity ahead of the ETH ETF’s launch. Related Reading: Crypto Guru Unveils Best Altcoins To Buy Now Deutscher quoted market sentiment from various tweets, indicating a general consensus that Ethereum might underperform in ETF inflows, which he believes is an undervalued viewpoint. “Given the fact that Bitcoin is significantly upticking, the ETH inflows could surprise. And the ETH chart really hasn’t done as much as you think it would, considering they’re on the verge of a major, major catalyst ” he explained, suggesting that the market might be underestimating Ethereum’s appeal to institutional investors. #3 Crypto Trend: Real-World Assets Third, Deutscher explored the concept of real-world asset (RWA) staking as an emerging investment opportunity within the Ethereum ecosystem. He cited Ondo Finance as a leader in this area, already showing strong performance and potential for further gains. “It’s actually consolidating into another bull flag here on the 1-hourly and the 4-hourly after breaking above that $1.33 level. The price action here is absolutely absolutely amazing. It’s a thing of beauty,” Deutscher noted. He also highlighted projects like Mantra and Pendle as other key players benefiting from the shift toward RWA staking. “Mantra recently announced their staking as well. Pendle is obviously a platform to enable you to earn yield. This is a clear beneficiary. These tokens, in my opinion have been the RWA leaders, […]. All of these can perform well.” At press time, ETH traded at $3,799. Featured image created with DALL·E, chart from TradingView.com
Donald Trump's crypto wallet has swelled to a $30 million after the Trog (Trump Frog) team airdropped him half the meme coin's supply.
The post Three Unmissable ‘High Potential’ Altcoins for June 2024 appeared first on Coinpedia Fintech News
Analyst of the channel Altcoin Buzz has brought to attention three altcoins that may have missed the investors’ portfolio this season. Exploring pivotal themes such as gaming, privacy, and social connectivity, he spotlights three nascent opportunities aligned with these overarching trends. XRAY The analyst highlighted XRAY as an early opportunity. XRAY is a gaming wallet …