In his recent analysis, Jason Pizzino, a respected investor and crypto expert highlights Bitcoin’s resilience, noting that it has just posted its second-highest close since the recent market collapse three weeks ago. Despite this, Bitcoin’s price has remained relatively stable, though market emotions have been mixed. The bear traps have been active, and many bulls …
The advocacy group, The Digital Chamber (TDC) has warned that the U.S. Supreme Court’s decision to allow a revived lawsuit against Nvidia could invite grave trouble for the crypto world. 2018 Nvidia Lawsuit Could Trouble Crypto The suit revived from 2018, accuses Nvidia of misleading investors about its GPU sales to crypto miners. The complaint …
The Shiba Inu burn rate has seen a notable spike in the past 24 hours that suggests a turn in the tide when it comes to SHIB burning. However, despite this notable spike, it is not exactly the most encouraging of burns given the number of coins that has been burned. This report dives into […]
Ethereum ETFs in the US face significant outflows, contrasting Bitcoin ETFs, which continue to attract investments.
The latest rise above $2,500 in Ethereum prices suggests the revival of a strong upswing and the expectation of reaching $3000. Besides, the growing market sentiments were in favour of a substantial rise. However, the possibility of a constant rise remains differed at the moment as the second-largest token, Ethereum, is losing its grip over …
The Biden deepfake scam highlights the risks of emerging tech and the need for regulation to safeguard elections and public trust.
Salame's counsel argued in a filing that the government resumed investigating his domestic partner, ADAM CEO Michelle Bond, despite despite assurances that the investigation would cease if he cooperated.
AAVE has become one of the best-performing cryptocurrencies this month. Throughout August’s market retraces, AAVE has remained among the few tokens registering green numbers in most timeframes. The cryptocurrency recently broke above a crucial level, which made investors and analysts turn their eyes to the token. Its recent performance suggests a parabolic run is around the corner. Related Reading: Solana (SOL) Continues Sideways Move As Outflows Record $39 Million AAVE Shows Strength Amid Market Crashes AAVE, the native token of the crypto lending protocol with the same name, has had one of the best performances in August. The token rose 43.7% in the last 30 days, showing its strength throughout the market fluctuations. After the market crash on August 5, the cryptocurrency fell over 28% to $79. However, the token quickly recovered most of its price before regaining its pre-retrace levels earlier this week. The bullish price action has propelled AAVE over 33.3% and 35.5% in the weekly and biweekly timeframes to levels not seen since the Q1 highs. On Monday, the token retested the $120 resistance level before successfully breaking above it on Tuesday. This performance meant a breakout from a multi-year accumulation range, which was only briefly tested during March’s rally. At the time, AAVE’s price soared above the $150 resistance level before retracing, a range not seen since 2022. Whales noticed AAVE’s performance, recently purchasing and withdrawing over 31,407 tokens worth around $3.92 million. Some market watchers noted the token’s price action, suggesting it is one of the “few alts that look interesting.” Is a Parabolic Run Or Correction Coming? Daan Crypto Trades revealed that the token was breaking out of a 2.5-year accumulation range. To Daan, a successful breakout above this level and holding of it could “lead to quick expansion higher.” Today, the token successfully reclaimed the $130 support level before attempting to retest the $140 mark. Based on its recent performance, the trader deems the cryptocurrency “still looking great.” Additionally, he believes that “things can get really fun” since the price is eyeing the cycle highs of $154. However, he reminded investors that a consolidation above the $115 level is possible as “nothing goes up in 1 straight line.” AAVE’s performance was also highlighted by other market watchers who suggested the cryptocurrency might experience a parabolic run towards the $264 and $294 price range. Crypto trader Suen believes the token “might also become a top narrative in Q4 this year.” Despite the bullish forecasts, Ali Martinez revealed that AAVE could see a significant correction soon. The token’s TD Sequential recently flashed a sell signal in the daily chart. Per the analyst, the last four times this signal appeared, an average correction of 27% followed them. Related Reading: Dogecoin Soars 6.5% Following Elon Musk’s Post, Is A Breakout Imminent? If history were to repeat itself, the token could face a retrace back to the $100 support level. As of this writing, the token has surged over 9% in the last 24 hours, currently trading at $137. Featured Image from Unsplash.com, Chart from TradingView.com
Amid the broader market turning bullish, the lack of confidence is evident, with Bitcoin struggling near $60K. However, the DeFi tokens are surprisingly ignoring the market noise as the smart money anticipates a bull run in the DeFi space. As the top DeFi tokens prepare for a breakout run with the ongoing reversal gaining momentum, …
With the upcoming U.S. elections, potential Federal Reserve rate cuts, and other macroeconomic factors, we might be on the brink of another massive crypto bull run. The current market is confusing and unstable, which can make investors lose confidence and feel like a bull market is far off. This period of uncertainty is often called …
On Wednesday, Public Citizen warned large crypto donations may influence lawmakers to weaken regulations, possibly putting consumers at risk.
With the altcoin market gaining momentum, the DeFi and dog-themed memecoins are preparing for a moonshot. The underlying increase in meme coins reveals a surge in FOMO sentiments, potentially fueling the next stage of the bull run. Further, with the Bitcoin price back at $60,000, will meme coins reach new all-time high levels this week? …
The blockchain-based solution builds on DBS Bank’s participation in Project Orchid, an effort by the Monetary Authority of Singapore to test the benefits of tokenization.
As the debate over SB 1047 intensifies, Wiener remains steadfast in his support for the bill, which he believes is a necessary step toward responsible AI governance.
Polygon and Chainlink’s tokens surged as much as 10% on fundamental developments.
Looking at the formation in the daily chart, Bitcoin bulls are struggling for momentum. Despite the expansion on August 8, reversing losses of August 5, buyers didn’t follow through, meaning traders are waiting for more confirmation before diving in. The lack of activity in the past few trading days means prices are inside a bull […]
Amid Bitcoin’s continuous consolidation below the $61,000 price mark over the past weeks, renowned trading guru Peter Brandt, with decades of experience in the financial markets, has recently shared an update on his outlook for Bitcoin and Ethereum. His analysis comes at a time when both of these assets have been unable to maintain a strong rally in the past weeks but have only continued to see consistent plunges. Related Reading: Bitcoin Sees Surge in Demand: Are We At The Final Phase of Consolidation? Bitcoin And Ethereum Next Move In his latest update, Brandt identifies a “megaphone” or “expanding triangle” pattern on Bitcoin’s weekly and daily charts. This pattern, characterized by increasingly wider price swings, often signals that the market is building up for a major move to the upside or downside. However, despite the meaning of this pattern, Brandt cautions that a “clear trend” has not yet emerged for Bitcoin. Commenting under Brandt’s post, an X user asked the trading guru about the factors that could signal a resumption of Bitcoin’s long-term uptrend, noting: What is more relevant in assessing the long term uptrend has resumed? Breaking above the diagonal resistance line or breaking above the horizontal line at 74k? To this, Brandt provided a straightforward perspective, disapproving the significance of “Diagonal resistance.” The analyst particularly noted: “Diagonal resistance means nothing to me.” In addition to his analysis of Bitcoin, Peter Brandt also shared his thoughts on Ethereum, the second-largest crypto by market capitalization. Brandt’s outlook for Ethereum remains cautious, as he observes that the altcoin is still on the “defensive.” Charts of continuing interest are Bitcoin and Ether. Weekly and daily graphs continue to form a megaphone or broadening triangle pattern in BTC No declaration of next trend yet $BTC$ETH will remain defensive unless/until close above 3050 occurs pic.twitter.com/aEESwhX5oC — Peter Brandt (@PeterLBrandt) August 20, 2024 He identifies the $3,050 level as a critical resistance point for Ethereum. According to Brandt, Ethereum will not exhibit bullish strength until it closes above this key level. Until then, a bearish bias will likely persist, with the potential for further declines if the price fails to break through this resistance. BTC And ETH Market Performance So far, both Bitcoin and Ethereum have been struggling to achieve any notable high following the significant plunge to lower levels earlier this month on August 5. BTC has ranged between $59,000 and slightly above $60,000 in the past week. Although the asset is up 1.3% over this period, it remains in the range with BTC’s current market price at $59,445 at the time of writing. As for Ethereum, the asset’s performance has also slightly mirrored that of BTC. Following ETH’s plunge to $2,197 earlier this month, the asset has continued to range below the $3,000 price mark. At the time of writing, ETH traded for $2,590, up by 0.1% in the past day. Feature image created with DALL-E, Chart from TradingView
In the fast-changing world of digital currency trading, where fortunes can quickly rise and fall, one trade stands out. An anonymous trader saw their investment in Sun Wukong, a new memecoin on the Tron blockchain, soar to a peak value of $750,000, showcasing patience and potential foresight. Big Bet: $1,000 into $750K The trade begins …
According to the latest data from lookonchain, Trump’s chances in the US Presidential Elections have risen to 53% on Polymarket, surpassing Harris’ chances of 46%. This shift comes amid a notable increase in the likelihood of Robert F. Kennedy Jr. endorsing Trump, as his chances of doing so this month went from 14% to 46% …
After the Fed released FOMC minutes on Wednesday that signaled a possible rate cut next month, Bitcoin’s (BTC) price surged 2 percent to reach a daily high of about $61,830. The flagship coin, however, has experienced a significant resistance level around the 50-day Moving Average (MA). Nonetheless, the daily Relative Strength Index (RSI) has since …
Bitcoin recently pushed above $60,000, driven by key macroeconomic factors. Traders are excited about a breakout towards $70,000. The minutes from the Federal Reserve’s recent meeting suggested rate cuts are likely, which is expected to boost Bitcoin’s price as lower interest rates increase global liquidity. Additionally, political developments, such as Donald Trump’s increased chances in …
Crypto advocates The Digital Chamber has backed Nvidia in a Supreme Court fight with investors, saying the court’s decision could affect the entire crypto industry.
Cardano (ADA) has managed to make its way back into the top 10. Over the past 24 hours, ADA has surged by more than 5%, surpassing Tron by market capitalization. Cardano’s much-awaited Chang hard fork is expected to be launched on Aug. 27. In late July, the network finally became ready for the upgrade with …
Bitcoin Open Interest has jumped by over a billion following the United States Federal Reserve ‘dovish’ minutes on Aug. 21.
With a focus on compliance roles, Binance is planning to hire 1000 employees this year as the exchange’s annual regulatory compliance spending exceeds $200 million. This move comes as Binance faces increased regulatory scrutiny, including an ongoing lawsuit from the SEC. The exchange plans to expand its compliance workforce to 700 by the end of …
Ethereum is struggling for momentum and remains under immense selling pressure. As of writing, the second most valuable coin is inside a narrow range, trending within the $2,100 on the lower end and $2,800 on the upper end. The local resistance level could mark the start of an impressive leg up, relieving the coin of the current sell grip from early August. Ethereum Whales Selling Although supporters are upbeat, expecting the coin to trend higher, breaking above local liquidation lines in a buy trend continuation formation, there are concerns. Looking at Ethereum price action, the coin could post even more losses. Related Reading: XRP Alert: Raoul Pal Advises Investors To Sell Now – Here’s Why One analyst, citing on-chain developments, notes that Ethereum whales, or addresses holding at least 10,000 ETH, have been actively selling over the past month. Overall, their decision to sell could suggest that these entities, who are often closely monitored, are not confident about what lies ahead. Therefore, others could follow suit by unloading their holdings, leading to a supply glut. Considering market forces, an uptick in supply could negatively impact prices, delaying the climb above the immediate roadblocks. Massive Outflows From Spot ETH ETFs Beyond this, analysts are also deflated by the current trends of spot Ethereum ETFs. In May, prices shot higher when the United SEC unexpectedly fast-tracked the approval of 19b-4 forms for applicants. The approval of the S-1 registration forms was also received positively, lifting prices above the $3,000 mark. However, days after the product began trading, there were more outflows, especially from Grayscale’s ETHE. Concurrently, demand has been lower than expected. Since its inception, over $247 million worth of ETH has been redeemed from ETHE. Subsequently, prices have been struggling and moving further away from March 2024 highs. Related Reading: Bitcoin Sees Surge in Demand: Are We At The Final Phase of Consolidation? According to Farside data, all spot Ethereum ETF issuers posted outflows of around $6.5 million on August 20. This is mostly thanks to the millions of dollars of redemption through ETHE. This has been a consistent trend since August 15. It suggests that though the smart contracts platform offers value, ETH’s immediate to medium-term outlook is bearish. Accordingly, investors are choosing to move their capital elsewhere. Feature image from DALLE, chart from TradingView
An analyst has predicted that XRP could see major price gains based on historical trends following Bitcoin halving events. Historically, XRP tends to experience a significant breakout approximately 228 days after a Bitcoin halving. According to Block Bull, this pattern was observed in both the 2016-2018 and 2020-2021 cycles, where XRP saw price increases following …
Bitcoin price remains steady above the $60,000 zone. BTC is now consolidating gains, and the bulls could aim for a move above the $62,000 resistance zone. Bitcoin started a consolidation phase above the $60,000 zone. The price is trading above $59,500 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support at $59,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might attempt a fresh increase if it clears the $61,500 resistance zone. Bitcoin Price Holds Gains Bitcoin price remained stable above the $58,500 pivot level. BTC formed a base and started a steady increase above the $60,000 resistance zone. The price climbed above the $60,200 and $60,500 resistance levels. The bulls were able to push the price above the 23.6% Fib retracement level of the downward move from the $61,800 swing high to the $59,805 low. The current price action is positive and seems like the bulls could aim for more gains above the $60,800 resistance zone. Bitcoin is now trading above $60,200 and the 100 hourly Simple moving average. The price is now consolidating near the 50% Fib retracement level of the downward move from the $61,800 swing high to the $59,805 low. On the upside, the price could face resistance near the $60,800 level. The first key resistance is near the $61,800 level. A clear move above the $61,800 resistance might send the price further higher in the coming sessions. The next key resistance could be $62,000. A close above the $62,000 resistance might spark more upsides. In the stated case, the price could rise and test the $63,500 resistance. Another Decline In BTC? If Bitcoin fails to rise above the $61,800 resistance zone, it could start a downside correction. Immediate support on the downside is near the $60,200 level. The first major support is $59,800. The next support is now near the $58,500 zone. Any more losses might send the price toward the $58,000 support zone or even $57,500 in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $60,200, followed by $59,800. Major Resistance Levels – $60,800, and $61,800.
The spot Bitcoin ETFs have witnessed their fifth consecutive day of positive flows, drawing in $39.42 million on Wednesday. Grayscale’s mini bitcoin trust reported $14.2 million in net inflows yesterday, and the spot bitcoin funds from Fidelity and Bitwise both recorded around $10 million in inflows. BlackRock’s IBIT saw $8.35 million in inflows, Franklin Templeton’s …
MATIC price trend shows a bullish breakout of a long-coming resistance trendline. The Polygon price has increased by 33% in 7 days. The breakout run in MATIC price eyes $1. As the bulls continue to struggle to hold Bitcoin at $60,000, the MATIC price has skyrocketed this week. With the altcoin market finding an additional …