Quick Take According to Farside data, the Bitcoin (BTC) exchange-traded funds (ETFs) saw the largest inflow since May 3, witnessing a $303 million inflow on May 15; all ETFs experienced positive inflows except for BlackRock IBIT and Hashdex DEFI Bitcoin ETF. Fidelity FBTC led the charge with an impressive inflow of $131.3 million, bringing its […]
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The post Bitcoin Spot ETF Volume Spikes Up: Will Grayscale & BlackRock Lift the BTC Price Rally? appeared first on Coinpedia Fintech News
Just a few hours ago, Bitcoin price displayed a bearish trade setup, with the possibility of falling by more than 12% and reaching levels below $60,000. However, recent price action appears to have squashed the bearish narrative, with the price poised to reach the next barrier at $68,000 during the next bullish wave. While multiple …
The price of XRP, the native token of Ripple, has been a topic of much debate lately. While some analysts predict a significant price jump this weekend, others remain cautious due to the coin’s recent struggles and the ongoing legal battle between Ripple and the SEC. Related Reading: Pepe Power! Meme Coin Surges On Back Of GameStop Nostalgia Stalled At The Starting Line: XRP’s Recent Performance XRP has been stuck in low gear, failing to break past the $0.54 resistance level for weeks. This sluggishness extends to the broader timeframes, with the coin experiencing a decline in the past month, week, and even the last 24 hours. At the time of writing, XRP was trading at $0.5185, down 3.8% in the last 24 hours, but managed a measly 0.4% uptick in the last week, data from Coingecko shows. Weekend Surge On The Horizon? Coincodex, a prominent crypto prediction platform, stands out from the crowd with a bullish forecast. They predict a substantial price increase for XRP, with the coin potentially reaching $0.648 by Tuesday, May 21st. This would represent a jump of over 32% from its current price. However, even Coincodex acknowledges the potential for a different scenario. The report mentions the possibility of consolidation around $0.4952 or even a price drop if profit-taking intensifies. Legal Clouds Dampen Enthusiasm Many experts believe the ongoing lawsuit between Ripple and the SEC is a significant factor behind XRP’s underperformance. The SEC alleges that XRP is a security, while Ripple argues it’s a currency. This legal battle has cast a shadow over the cryptocurrency, leading to investor hesitation. There is a glimmer of hope, however. The article reports that the lawsuit is nearing its conclusion, with a final judgment expected from Judge Analisa Torres this year. A definitive resolution, especially if it favors Ripple, could pave the way for a significant price increase in the future. Some analysts, as the report mentions, even predict XRP could surge to $47 during the next bull run. Weighing The Bullish And Bearish Signs The future of XRP remains uncertain. Coincodex’s prediction offers a ray of optimism for a near-term price jump. However, the recent price slump, ongoing legal battle, and cautious investor sentiment paint a more complex picture. Related Reading: Floki Inu Moment Of Glory: Analysts Forecast Explosive 200% Rally Looking Ahead: A Post-Lawsuit Future For XRP? The resolution of the SEC lawsuit could be a turning point for XRP. If Ripple prevails, it could remove a major obstacle to wider adoption and institutional investment. This, combined with a potential bull run in the broader cryptocurrency market, could propel XRP to new heights. However, even a favorable outcome wouldn’t guarantee smooth sailing. The cryptocurrency market remains volatile, and XRP faces competition from other established players. Featured image from Pexels, chart from TradingView
The post Bitcoin Soars to $66K as Retail Investors Drive $135M Buying Spree! appeared first on Coinpedia Fintech News
Bitcoin experienced a significant surge last night, rising nearly 8% and crossing the $66,000 mark. This impressive rally is fueled by retail investors, particularly those holding between 0.1 and 1 BTC, who have collectively purchased $135,700,000 worth of Bitcoin over the past 30 days. This inflow of retail investment underscores the growing confidence and participation …
BTC price action has its doubters after swiftly jumping to new May highs, but some see Bitcoin continuing upward momentum into price discovery.
In a recent analysis, James Coutts, Chief Crypto Analyst at Realvision, signaled a potential bullish turn in Bitcoin’s near future, attributing the forecasted change to shifts in global liquidity measures, specifically the Global Money Supply (M2) index which is widely seen as most important price catalyst. Coutts detailed this anticipation in a thread on X, where he examined the relationship between major economic indicators and Bitcoin’s price cycles. Global Money Supply And Its Correlation With Bitcoin Coutts’ analysis begins with the M2 money aggregates, which consist of cash, checking deposits, and easily convertible near money. He tracks these aggregates across the 12 largest economies, all adjusted to USD. This measure, he suggests, is central to understanding liquidity flows within the global fiat, credit-based financial system. According to Coutts, “The money stock often moves in one direction, with significant drops like those seen in 2022 being rare and typically brief.” Related Reading: Bitcoin Soaring Toward $84,000: Insights From Glassnode Co-Founders Currently, the Global M2 is neutral, but Coutts predicts imminent changes: “There is a sea of red across my macro & liquidity dashboard, but signs are emerging that this is about to change. Global M2 holds the key for the next leg of the cycle due to its high correlation with $BTC bull cycles.” The rate of change in M2 money supply is more critical than its nominal value. Coutts noted, “The chart confirms what our MSI performance table suggests: Bitcoin usually moves with shifts in M2 momentum.” He explained that despite the global money supply MSI indicator being in an uptrend, the momentum remains sluggish, maintaining a Neutral MSI. For a shift to a bullish MSI signal, an increase in momentum is necessary, requiring a combination of dollar depreciation, credit expansion, and increased government debt issuance. Coutts pointed out the crucial role of credit conditions, as evidenced by corporate bond spreads (BBB/Baa) compared to the US 10-year Treasury yield, which have historically aligned with significant inflections in Bitcoin’s cycle. “These spreads are currently narrowing, indicating that corporations are managing to issue and roll over debt despite the high interest rates resulting from the record hikes in 2022 and 2023,” he observed. Related Reading: $291 Billion Asset Manager Founder Predicts Bitcoin Will Hit $420,000 Using the chameleon trend indicator on the corporate spread index, Coutts suggests a strategy: “Long Bitcoin when the index shows a bearish trend (red) and stay alert for potential trend reversals (turning green).” The Role Of the Dollar And Future Outlook A key to this cycle, according to Coutts, is the behavior of the DXY (Dollar Index), which measures the US dollar against a basket of foreign currencies. “The Dollar is range-bound. A break below 101 would be rocket fuel for Bitcoin,” he asserted, emphasizing that market sentiment on liquidity is often reflected in real-time by DXY movements. Coutts also touched upon the US debt situation, suggesting that without a conservative shift in Congress advocating for fiscal responsibility, more deficit spending is likely on the horizon, which could further influence liquidity conditions favorable to Bitcoin. Coutts concluded with a note of caution mixed with optimism: “While my framework needs 2/3 MSI indicators to turn Bullish for macro headwinds to turn into tailwinds, Bitcoin price action will probably sniff out this inflection in the macro before most indicators react.” His analysis suggests that if Bitcoin breaks above its all-time highs, it would be unwise to bet against it, anticipating potential climbs towards $150,000 in this cycle. “The DXY holds the key to the Bitcoin cycle as it prices in mkt expectations on liquidity in real time. And liquidity is coming. Watch the 101/102 level on DXY If that breaks, then we should see ~$150k btc this cycle,” he remarked. At press time, BTC traded at $66,090. Featured image created with DALL·E, chart from TradingView.com
Increased transactions on the Shibarium blockchain will lead to a higher burn rate for the SHIB token, reducing its circulating supply.
The post QCP Predicts Bitcoin Surge to $74K Amid Strong Institutional Support appeared first on Coinpedia Fintech News
QCP, a leading trading desk, predicted Bitcoin (BTC) would rise to $74,000. Interestingly, Bitcoin rose 7.54% in 24 hours to $65K after the CPI data release, prompting this bullish forecast. This shows a strong institutional support call for BTC. The times are changing! Breakout Triggered by CPI Numbers In a Telegram broadcast, QCP noted that …
The break in Bitcoin’s daily downtrend and heightened demand from whales indicate Bitcoin’s price could jump, but analysts expected it to take a few weeks.
The CME is already the top bitcoin futures exchange by open interest, while the offshore, non-regulated Binance dominates the spot market.
The curtain fell on the first-quarter 13F filings with the US Securities and Exchange Commission (SEC) on Wednesday, and the reports revealed a seismic shift in institutional investment patterns toward spot Bitcoin exchange-traded funds (ETFs), with Millennium Management emerging as a frontrunner in this new asset class. Millennium Becomes The King Of Bitcoin ETFs Millennium […]
The post THORChain (RUNE) Price Hints At A Uptrend To $10 Amid Bull Market! appeared first on Coinpedia Fintech News
The cryptocurrency market has recorded a strong bullish reversal by adding 5.52% to its global valuation following the release of the US CPI report for the month of April. Moreover, the price of Bitcoin has successfully reclaimed the $65K mark after recording a jump of 6.87% in its portfolio. On the other hand, the THORChain …
The post Ripple Whales Accumulate 60 Million XRP appeared first on Coinpedia Fintech News
In May, Ripple whales, holding between 1 million and 10 million XRP accumulated 60 million tokens. This accumulation comes as XRP holders navigate the ongoing developments in the SEC vs. Ripple lawsuit. Notably, XRP has sustained a price of over $0.51 and is poised to test the $0.60 resistance level. Whale accumulation is typically a …
Coinbase is developing a service which will specifically target Australia' self-managed pensions sector, the exchange's Asia-Pacific Managing Director John O’Loghlen told Bloomberg.
International hedge fund Millennium Management has reported it holds $1.94 billion across five different spot Bitcoin ETF products.
The post Will Bitcoin (BTC) Price Hit New ATH by May End? appeared first on Coinpedia Fintech News
Bitcoin is trading above $64,000, showing a solid uptick of 4.3% in the last 24 hours and 3% in the past week. This surge hints at a potential end to Bitcoin’s recent corrective phase, sparking optimism among investors. Ethereum follows suit, up by 2% in the last 24 hours, though down by 2.36% over the …
The net percent of global central banks cutting rates is increasing in a positive sign for risk assets, including cryptocurrencies.
Recent 13F filings show that over 1500 investment firms have disclosed owning around $10.6 billion in Bitcoin ETF shares.
The post Q1 Bitcoin ETF holders: 1500 entries reported, Millennium leads with nearly $2 billion in holdings appeared first on Crypto Briefing.
Chinese law enforcement agencies have announced a breakthrough in their fight against illegal financial activities. They have dismantled a large underground banking gang allegedly involved in facilitating illegal transactions using Tether’s USDT stablecoin. The operation spans multiple provinces and is believed to have enabled over $2 billion worth of illicit USDT transactions. 193 Suspects Arrested […]
The post Fantom & Near Protocol Soar As Bitcoin Display Strength, Will FTM & NEAR Price Maintain a Bullish Streak? appeared first on Coinpedia Fintech News
Fantom (FTM) Price Analysis Fantom price volatility has been rising since the beginning of the fourth quarter of 2024. While many tokens failed to maintain the trend, FTM was able to trade above the gained levels, demonstrating the bulls’ strong grip on the rally. With the recent rebound, the price has certified a triple-bottom above …
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Trading activity in Bitcoin ETFs just hit a new peak. According to Santiment, the seven largest ETFs collectively reached $5.65 billion in volume, the most active day since late March. This surge suggests a change away from the usual large-scale on-chain accumulations by whales. Major Banks Enter the Bitcoin ETF Market Three days ago, American …
The post Crypto Market Records A Significant Inflow With The Price Of Bitcoin Recording A 24-Hour High Of $66,667.89! appeared first on Coinpedia Fintech News
Following the release of the US CPI report yesterday, inflation eased to 3.4% in April, meeting expectations. This resulted in the crypto market recording a positive price action with the global market cap recording a jump of 5.52% and a trading volume of $99.05 Billion (+37.02%). Furthermore, the market leader, BTC price, added 6.67% to …
Neel Somani, the founder and CEO of Eclipse Labs, stepped down after sexual assault allegations recently surfaced.
Solana started a fresh increase above the $150 resistance. SOL price is up nearly 15% and might continue to rise if it clears the $165 resistance. SOL price recovered higher and tested the $162 resistance against the US Dollar. The price is now trading above $150 and the 100-hourly simple moving average. There was a break above a key bearish trend line with resistance at $148 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could clear the $165 resistance unless it fails to stay above $158. Solana Price Starts Fresh Surge Solana price formed a support base near the $138 level and started a fresh increase. SOL outperformed Bitcoin and Ethereum and moved into a positive zone above the $150 level. There was a break above a key bearish trend line with resistance at $148 on the hourly chart of the SOL/USD pair. The pair even $155 resistance and spiked above $162. A new weekly high was formed at $163.76, and the price is now consolidating gains. It is holding the 23.6% Fib retracement level of the upward move from the $141 swing low to the $164 high. Solana is now trading above $160 and the 100 simple moving average (4 hours). Immediate resistance is near the $165 level. The next major resistance is near the $172 level. A successful close above the $172 resistance could set the pace for another major increase. The next key resistance is near $180. Any more gains might send the price toward the $188 level. Are Dips Supported in SOL? If SOL fails to rally above the $160 resistance, it could start a downside correction. Initial support on the downside is near the $158 level. The first major support is near the $152 level. The 50% Fib retracement level of the upward move from the $141 swing low to the $164 high is also at $152, below which the price could test $150. If there is a close below the $150 support, the price could decline toward the $138 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level. Major Support Levels – $158, and $152. Major Resistance Levels – $165, $172, and $180.
The post Aggressive Buyers Bring Trend Reversal In FTM Price, Eyes $1 appeared first on Coinpedia Fintech News
Bitcoin surged back to $65,000 with an overnight jump of 7.64%, bringing an altcoins sector recovery. Amidst the new bull run, the FTM price shows an amazing high-speed overnight move, leading to a trend reversal. As the uptrend in Fantom gains momentum, the altcoin offers a breakout entry opportunity for sideline traders. Is this the …
Eclipse’s chief growth officer Vijay Chetty was named CEO “effectively immediately” with the firm announcing that Neel Somani was departing.
Over half a million people are already on the waitlist for Humanity Protocol’s public testnet launch, expected to take place in the back half of 2024.
Data shows that Bitcoin selling pressure on the crypto exchange Coinbase is decreasing, which could be conducive to a short-term bounce. Bitcoin Coinbase Premium Gap Is Approaching Neutral Mark Again As analyst Maartunn explained in a post on X, the Coinbase Premium Gap has risen since plunging into negative territory yesterday. The “Coinbase Premium Gap” […]
XRP price is attempting a fresh increase above the $0.5050 resistance. The price could gain bullish momentum if it clears the $0.520 resistance. XRP is eyeing a steady move above the $0.520 level. The price is now trading above $0.5120 and the 100-hourly Simple Moving Average. There was a break above a short-term declining channel with resistance at $0.5025 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start another increase if there is a close above the $0.520 resistance. XRP Price Eyes Breakout Yesterday, we saw how XRP price started a recovery wave, like Bitcoin and Ethereum. The price was able to settle above the $0.4950 and $0.50 resistance levels. There was a break above a short-term declining channel with resistance at $0.5025 on the hourly chart of the XRP/USD pair. The pair even cleared the $0.5150 resistance level and settled above the 100-hourly Simple Moving Average. It traded as high as $0.5195 and is currently consolidating gains above the 23.6% Fib retracement level of the upward move from the $0.4980 swing low to the $0.5195 high. The price is also trading above $0.5120 and the 100-hourly Simple Moving Average. Immediate resistance is near the $0.5185 level. The first key resistance is near $0.5200. A close above the $0.5200 resistance zone could send the price higher. The next key resistance is near $0.5220. If the bulls remain in action above the $0.5220 resistance level, there could be a rally toward the $0.5350 resistance. Any more gains might send the price toward the $0.550 resistance. Another Decline? If XRP fails to clear the $0.520 resistance zone, it could start another decline. Initial support on the downside is near the $0.5145 level. The next major support is at $0.5120. If there is a downside break and a close below the $0.5120 level, the price might accelerate lower. In the stated case, the price could even drop below the $0.5050 support zone or the 61.8% Fib retracement level of the upward move from the $0.4980 swing low to the $0.5195 high. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.5120 and $0.5050. Major Resistance Levels – $0.5200 and $0.5220.
Salim Ramji wants to stick with Vanguard’s investment philosophy which excludes offering Bitcoin as it is too speculative an asset.