Bitcoin (BTC), the pioneer of the cryptocurrency world, has recently experienced a significant price dump, shedding billions in market value. The sharp decline has been attributed to various factors, including macroeconomic uncertainties, regulatory concerns, and shifts in investor sentiment. As Bitcoin (BTC)’s price struggles, traders and investors are seeking new opportunities to mitigate losses and […]
Ethereum (ETH) has long been a cornerstone of the cryptocurrency landscape. As the second-largest cryptocurrency by market capitalization, Ethereum (ETH) is renowned for its smart contract functionality and robust platform for decentralized applications (dApps). Its pioneering role in blockchain technology has cemented its place as a key player in the digital asset world. The Challenges […]
Bitcoin (BTC), the leading cryptocurrency and a staple in digital asset investment, has recently encountered a significant downturn in its price. This decline has been exacerbated by geopolitical developments, particularly Iran’s growing influence on the global stage. As investors reevaluate their positions in light of these changes, Bitcoin (BTC)’s volatility raises questions about its future stability and performance. Iran’s Economic Moves and Bitcoin’s Market Reaction How Geopolitical Tensions Impact Crypto Prices Iran’s strategic advancements have injected new uncertainty into global markets, including the cryptocurrency space. The resulting turbulence has put Bitcoin (BTC) under pressure, leading to price instability. As investors react to these geopolitical shifts, Bitcoin (BTC)’s traditional role as a ‘safe haven’ is being tested, prompting a search for alternative investments. Why Mpeppe Is Gaining Traction Amid Bitcoin’s Decline Amid Bitcoin (BTC)’s price struggles, Mpeppe (MPEPE) has emerged as a noteworthy alternative. Currently priced at $0.00107, Mpeppe (MPEPE) is capturing the attention of investors looking for opportunities beyond Bitcoin (BTC)’s erratic performance. This new cryptocurrency combines the power of meme culture with cutting-edge blockchain technology, offering a fresh perspective in the crypto landscape. Drawing Inspiration from Pepecoin’s Success Mpeppe (MPEPE) is inspired by Pepecoin, a meme cryptocurrency that achieved remarkable success through community-driven initiatives and charitable causes. Pepecoin’s ability to effect real-world change through crowdfunding and positive social impact serves as a foundation for Mpeppe (MPEPE)’s mission. By building on this legacy, Mpeppe (MPEPE) aims to further enhance its value proposition. Beyond Financial Transactions: Building a Community Mpeppe (MPEPE) is more than just a digital asset; it’s a community-driven movement. With a focus on soccer and blockchain innovation, Mpeppe (MPEPE) seeks to unite global fans and create wealth through strategic community involvement. This approach distinguishes Mpeppe (MPEPE) from other cryptocurrencies and aligns with its broader vision of positive change and engagement. Navigating the Crypto Red Sea: Why MPEPE Could Be Your Best Bet Bitcoin’s Volatility and the Search for New Opportunities As Bitcoin (BTC) struggles with price instability and external pressures, investors are exploring alternative assets with higher growth potential. Mpeppe (MPEPE)’s unique blend of meme culture, De-Fi technology, and community focus makes it an attractive option for those looking to capitalize on Bitcoin (BTC)’s volatility. Why MPEPE Offers a Compelling Investment Opportunity For investors seeking to diversify their portfolios or enter the cryptocurrency market, Mpeppe (MPEPE) represents a promising opportunity. Its innovative features and community-driven approach provide a stark contrast to Bitcoin (BTC)’s current challenges, positioning Mpeppe (MPEPE) as a potential standout in the evolving crypto landscape. Conclusion: The Future of Crypto Investment As Bitcoin (BTC) navigates a period of significant price volatility and geopolitical uncertainty, new cryptocurrencies like Mpeppe (MPEPE) are stepping into the spotlight. With its foundation in meme culture, advanced De-Fi capabilities, and a focus on community impact, Mpeppe (MPEPE) offers a fresh and compelling alternative for investors seeking new avenues for growth. As the cryptocurrency market continues to evolve, Mpeppe (MPEPE)’s unique value proposition could well make it a key player in the quest for profitable digital assets. For more information on the Mpeppe (MPEPE) Presale: Visit Mpeppe (MPEPE) Join and become a community member: https://t.me/mpeppecoin https://x.com/mpeppecommunity?s=11&t=hQv3guBuxfglZI-0YOTGuQ
In recent weeks, Bitcoin (BTC) has experienced a severe price drop, leading to the liquidation of over $1 billion worth of BTC. This dramatic downturn has caused significant distress among investors and traders who were heavily leveraged. The abrupt sell-off has not only impacted Bitcoin (BTC)’s price but also sent shockwaves through the broader cryptocurrency […]
In a striking shift in the cryptocurrency landscape, traditional investors in Bitcoin (BTC) and Ethereum (ETH) are increasingly reallocating their assets into newer, high-potential tokens. This article explores why investors are pivoting away from established giants like BTC and ETH and why Mpeppe (MPEPE) has emerged as a compelling alternative. The Shift from Bitcoin (BTC) and Ethereum (ETH) Traditional Titans Under Pressure Bitcoin (BTC) and Ethereum (ETH) have long been the cornerstones of the cryptocurrency world. Bitcoin (BTC), often referred to as “digital gold,” has established itself as a foundational asset, while Ethereum (ETH)’s smart contract capabilities have revolutionized decentralized applications. However, both Bitcoin (BTC) and Ethereum (ETH) are currently facing unique challenges that are prompting investors to seek new opportunities. Bitcoin (BTC)’s market saturation is one of the primary factors driving this shift. As Bitcoin (BTC)’s market capitalization has grown, its growth rate has slowed, making it less attractive for high-risk, high-reward strategies. Investors are now looking for assets with greater potential for rapid appreciation. Ethereum (ETH), on the other hand, has struggled with scaling issues. High transaction fees and network congestion have frustrated users and investors alike. Despite ongoing upgrades and the anticipated transition to Ethereum (ETH) 2.0, the pace of improvement has not met some investors’ expectations, leading them to explore alternative assets. Regain Profits With Mpeppe (MPEPE): Among the new entrants capturing investor interest is Mpeppe (MPEPE). Priced currently at $0.00107, Mpeppe (MPEPE) has gained attention due to its innovative features and community-driven approach. This cryptocurrency combines the viral appeal of meme culture with practical decentralized finance (De-Fi) functionalities. Meme Culture Appeal The token leverages the power of meme culture, resonating with a broad audience and capturing the enthusiasm of both casual and serious investors. This viral appeal has been a key factor in its growing popularity, drawing attention from those interested in the next big thing in the crypto world. Global Sports Community Mpeppe (MPEPE)’s focus on building a global community around sports and cryptocurrency adds to its attractiveness. By fostering a community that celebrates sports and embraces crypto innovations, Mpeppe (MPEPE) not only engages a wide audience but also creates a strong foundation for future growth. Implications for the Crypto Market Increased Volatility As investors shift their focus from Bitcoin (BTC) and Ethereum (ETH) to emerging cryptocurrencies like Mpeppe (MPEPE), the market is likely to experience increased volatility. This shift can lead to significant price swings. Market Diversification The move towards new cryptocurrencies reflects a broader trend of market diversification. Investors are looking beyond traditional assets to explore a wider range of opportunities. This trend is likely to drive innovation and competition within the crypto space, benefiting the industry as a whole. Opportunities for New Projects For emerging cryptocurrencies, this trend represents a significant opportunity. With established investors seeking fresh avenues for growth, new projects like Mpeppe (MPEPE) have the chance to capture market share and establish themselves as key players in the industry. Conclusion The trend of Bitcoin (BTC) and Ethereum (ETH) investors reallocating their assets into new cryptocurrencies underscores a dynamic shift in the market. While BTC and ETH remain fundamental to the cryptocurrency ecosystem, the allure of emerging tokens like Mpeppe (MPEPE) highlights a growing desire for innovative technologies and high-risk, high-reward opportunities. As the cryptocurrency landscape continues to evolve, investors and industry participants will need to stay informed and agile to navigate these changes and seize new opportunities. For more information on the Mpeppe (MPEPE) Presale: Visit Mpeppe (MPEPE Join and become a community member: https://t.me/mpeppecoin https://x.com/mpeppecommunity?s=11&t=hQv3guBuxfglZI-0YOTGuQ
In a dramatic turn of events, Bitcoin (BTC) has witnessed a massive sell-off, resulting in the liquidation of over $1 billion worth of BTC. This unprecedented drop in value has shaken the cryptocurrency market, leading many investors to reassess their positions. As Bitcoin (BTC)’s price plunges, a growing number of these investors are turning their attention to emerging alternatives, with Mpeppe (MPEPE) emerging as a prominent contender. The Ripple Effect of Bitcoin’s Price Drop Understanding the Liquidation Impact The recent Bitcoin (BTC) price drop has had significant ripple effects throughout the crypto market. Investors who were heavily leveraged found themselves facing margin calls and forced liquidations, contributing to the massive sell-off. This liquidity crisis has not only impacted Bitcoin (BTC)’s price but has also created a broader market environment ripe for new investment opportunities. BTC Investors Shift Focus to New Opportunities As Bitcoin (BTC) struggles to stabilize, many investors are seeking refuge in new cryptocurrencies with promising prospects. Mpeppe (MPEPE) has emerged as a favored choice due to its innovative features and potential for growth. Investors are increasingly looking to Mpeppe (MPEPE) as a viable alternative to Bitcoin (BTC)’s current instability. The Power of De-Fi Integration Mpeppe (MPEPE) is making headlines as Bitcoin (BTC) investors pivot towards new opportunities. Priced at just $0.00107, Mpeppe (MPEPE) offers a fresh approach to cryptocurrency with its blend of meme culture, blockchain innovation, and De-Fi capabilities. This unique combination positions Mpeppe (MPEPE) as an attractive investment for those looking to capitalize on Bitcoin (BTC)’s volatility. One of Mpeppe (MPEPE)’s most compelling features is its integration of decentralized finance (De-Fi) protocols. This integration allows Mpeppe (MPEPE) to provide a wide range of financial services, including lending, borrowing, trading, and yield farming. By leveraging De-Fi, Mpeppe (MPEPE) enhances its functionality and value, creating new opportunities for users to engage with and benefit from the cryptocurrency. The Transformative Potential of MPEPE Revolutionizing Crypto with De-Fi Capabilities Mpeppe (MPEPE) stands out in the cryptocurrency landscape by incorporating advanced De-Fi features. These protocols enable users to participate in financial activities without relying on traditional intermediaries. This not only increases Mpeppe (MPEPE)’s utility but also contributes to the broader adoption of De-Fi technology, positioning Mpeppe (MPEPE) as a transformative force in crypto. Creating Value Through Community and Innovation Beyond its technical features, Mpeppe (MPEPE) is driven by a mission to foster a vibrant community and drive positive change. The cryptocurrency aims to build on the success of meme culture, drawing inspiration from the impact of Pepecoin. Mpeppe (MPEPE)’s focus on community-driven wealth creation and its innovative use cases further differentiate it from traditional cryptocurrencies like Bitcoin (BTC). Conclusion: Embrace the New Era of Crypto with MPEPE The recent Bitcoin (BTC) price drop and subsequent investor shift highlight the dynamic nature of the cryptocurrency market. As traditional assets like Bitcoin (BTC) face challenges, new cryptocurrencies like Mpeppe (MPEPE) offer exciting alternatives with significant growth potential. By embracing Mpeppe (MPEPE), investors have the opportunity to explore innovative financial solutions and capitalize on the evolving landscape of digital assets. For more information on the Mpeppe (MPEPE) Presale: Visit Mpeppe (MPEPE) Join and become a community member: https://t.me/mpeppecoin https://x.com/mpeppecommunity?s=11&t=hQv3guBuxfglZI-0YOTGuQ
Recently, Bitcoin (BTC) experienced a significant price drop, shaking the cryptocurrency market and sending shockwaves through various investment communities. This dramatic change in BTC’s performance has caused many investors to reevaluate their portfolios, particularly those holding Pepecoin (PEPE). The uncertainty and volatility have prompted PEPE holders to seek new opportunities for substantial gains. The Ripple Effect: How Bitcoin’s Decline Impacts Pepecoin (PEPE) Investors The fall in Bitcoin’s value has had a ripple effect across the cryptocurrency market, impacting investor confidence and prompting a reassessment of holdings. Pepecoin (PEPE) investors, known for their affinity with meme-driven assets, are particularly affected by this shift. As they face potential losses or diminished returns from Pepecoin (PEPE), many are turning to emerging alternatives that promise similar or greater potential for profit. Mpeppe (MPEPE)’s Emergence: Why It’s Catching the Eye of PEPE Holders In the wake of Bitcoin’s turbulence, Pepecoin (PEPE) holders are increasingly looking at Mpeppe (MPEPE) as a viable alternative. Mpeppe (MPEPE) is positioning itself as a strong contender in the meme coin space, offering features and benefits that align with the interests of those who have been successful with Pepecoin (PEPE). The transition to Mpeppe (MPEPE) is driven by its potential for massive gains and its innovative approach to integrating decentralized finance (De-Fi) protocols. Integrating De-Fi: How Mpeppe (MPEPE) Stands Out from PEPE One of the key reasons Pepecoin (PEPE) investors are flocking to Mpeppe (MPEPE) is its incorporation of advanced De-Fi features. Unlike PEPE, which primarily focuses on meme culture and community engagement, Mpeppe (MPEPE) offers a broader range of financial services. By integrating De-Fi protocols, Mpeppe (MPEPE) provides access to lending, borrowing, trading, and yield farming—all without traditional intermediaries. This additional functionality not only enhances the utility of Mpeppe (MPEPE) but also positions it as a more versatile and promising investment. Why PEPE Holders Are Switching to Mpeppe (MPEPE) The Quest for Greater Returns: Seeking New Opportunities With Bitcoin’s recent price drop creating uncertainty and Pepecoin (PEPE)’s growth potential facing challenges, many investors are turning their attention to Mpeppe (MPEPE). The prospect of substantial returns, coupled with Mpeppe (MPEPE)’s innovative features, offers a new avenue for profit that aligns with the high-risk, high-reward mindset of meme coin enthusiasts. Strategic Diversification: Mpeppe (MPEPE) as a Hedge Against BTC Volatility For Pepecoin (PEPE) holders, diversifying into Mpeppe (MPEPE) represents a strategic move to hedge against Bitcoin’s volatility. As Mpeppe (MPEPE) continues to develop and gain traction, its potential for significant growth makes it an attractive option for those looking to offset the impact of Bitcoin’s downturn. The blend of meme culture and De-Fi capabilities provides a unique investment opportunity that could potentially lead to major gains. Conclusion: Mpeppe (MPEPE) as a Strategic Investment For Pepecoin (PEPE) investors facing uncertainty due to Bitcoin’s price drop, Mpeppe (MPEPE) presents an exciting new opportunity. With its innovative De-Fi integrations and strong connection to meme culture, Mpeppe (MPEPE) offers the potential for substantial profits and strategic diversification. As the cryptocurrency market continues to evolve, Mpeppe (MPEPE) stands out as a promising contender in the quest for new and rewarding investment opportunities. For more information on the Mpeppe (MPEPE) Presale: Visit Mpeppe (MPEPE) Join and become a community member: https://t.me/mpeppecoin https://x.com/mpeppecommunity?s=11&t=hQv3guBuxfglZI-0YOTGuQ
Over the weekend, more than $1 billion in futures positions were liquidated from the crypto markets as fears of a looming recession intensified.
Global equity markets witnessed a massive sell-off, pulling Bitcoin and several major cryptocurrencies to unexpected lows.
The long-held belief in the crypto market’s predictable four-year cycle, characterized by distinct phases of accumulation, uptrend, distribution, and downtrend, is being questioned by top-analyst Jordan Fish, better known as Cobie. He articulated an argument that challenges this traditional view, suggesting that the concept of a cyclic market may no longer hold true. Cobie ignited a debate on X (formerly Twitter) with his assertion, “Unironically [the bull run] has not even started yet.” This statement was met with incredulity by some, such as Maher Abdelsala, who remarked, “Brother people think you are serious lol.” Cobie clarified his stance, stating, “I am serious! Increasingly I like the argument that this is not even a ‘cycle’, really, but it’s more like 2019 with leverage and ETFs.” The End Of The Traditional Crypto Cycle? Cobie’s perspective hinges on the notion that the structural dynamics of the crypto market have fundamentally changed. He draws parallels to the market conditions of 2019, but with significant differences influenced by the proliferation of leverage and the introduction of spot Bitcoin and Ethereum Exchange-Traded Funds (ETFs). “Was 2019 a new ‘cycle’ or was it part of the bear market?” Cobie pondered. “Floated this idea to a few people in March but everyone told me I was an idiot, which I am, but still it was quite rude to say that to my face.” Related Reading: Crypto Market Liquidations Top $197 Million As Bitcoin Price Plunges Below $60,000 The introduction of ETFs and the increased use of leverage have brought new complexities to the market. These instruments have changed how capital flows into and out of the crypto ecosystem, creating a less predictable and more fragmented market landscape. Cobie emphasized, “Of course if we’re in 2019-looking-2024, it doesn’t mean 2020 plays out the same way, because structurally so much is different now with ETFs and high FDVs and shit, probably too difficult to pattern match too much stuff about the future.” Cobie’s analysis suggests that the current market exhibits a high degree of dispersion, where various assets behave differently rather than moving in unison as seen in previous cycles. This dispersion makes it challenging to identify a single driving force or pattern that governs the entire market. “I think this cycle is so unlike any other cycle it’s probably better to just stop thinking of cycles altogether,” Cobie stated. “It’s clear there is no one single thread pulling everything forward like it did before.” Related Reading: ‘Not All Hope Is Lost’: Crypto Analyst Weighs In On The Market’s Performance This view is reinforced by the performance of certain cryptocurrencies. For instance, Chainlink (LINK) and Dogecoin (DOGE) are cited by Cobie as examples where the traditional hype and subsequent price appreciation may no longer apply. He explained, “I think there’s a very strong likelihood stuff like that could potentially never make new highs again and LINK could just keep existing as a wildly successful oracle without the price appreciation.” The Echo Bubble Phenomenon In the context of market maturity, Cobie referenced the concept of the “echo bubble,” popularized by the renowned trader GCR (Global Coin Research). The echo bubble theory posits that a smaller bubble follows the burst of a larger one, as observed in 2019 following the massive rally in 2017. Cobie expressed surprise at GCR’s recent market behavior, noting, “I actually found it pretty weird GCR kept talking about the echo bubble when he was bullish at the picobottom but then when shit started getting silly he just bought the dogwithhat NFT and broke his hiatus to come and tell people not to sell.” Overall, Cobie believes that the market is currently in a “multi-month/quarter cool-off reaccumulation period” for Bitcoin. He expects Bitcoin to trade within a range of $45,000 to $70,000, with a possibility of a brief breakout to new highs. However, he is pessimistic about the future of many altcoins, particularly those that have survived multiple market cycles. “I def think all the sudden memecoin theses marked an intermediary top for overall risk appetite, and everyone has been conditioned to max long as soon as they think we’re ready to go for it again.” He anticipates that many of these older altcoins will “slowly bleed away and become irrelevant” as speculative investments. This outlook suggests that the market’s risk-on paradigm, characterized by rapid and extensive price increases, may not resume anytime soon. He concludes, “So long story short I think we need a lot more time before the (real) risk on paradigm starts again and I expect more downside to come before it happens.” At press time, Bitcoin traded at $51,104. Featured image from iStock, chart from TradingView.com
Bitcoin derivatives show traders’ morale is low, weakening the odds of a 20% rise from the $49,320 BTC bottom.
Jump Trading’s aggressive Ether sell-off, coinciding with Japan’s market crash, raises questions about its strategy and market exit.
Bitcoin, the flagship cryptocurrency has continued its bearish momentum, potentially heading to the $50,000 mark after failing to reach the $73,000 level once again. However, Doctor Profit, a well-known crypto expert and enthusiast considering the price movements has identified that Bitcoin is currently trading within a clear price range, suggesting a period of consolidation. Bitcoin […]
Economics adviser Gene Sperling joined Ripple’s board in 2015 after serving under Presidents Bill Clinton and Barack Obama.
DePIN enables the tokenization of machines, opening up RWA investments and spreading benefits to owners and users, says Leroy Hofer, CEO and co-founder of Teneo Protocol.
Bitcoin sellers run out of steam and BTC price strength returns at the Wall Street open as US stocks initially avoid copying the fate of their Asian counterparts.
The crypto world is gaining positive sentiment again as Bitcoin (BTC) pulls off an incredible 3.16% jump in just one hour though the market is showing brarish movements. At the time of pressing, Bitcoin stands at $54,600 which is a significant recovery from its earlier dip to $49,000. Let’s Explore the reasons causing this drive …
After a huge crash across the cryptocurrency market, top assets such as Bitcoin (BTC) and Ethereum (ETH) are looks recovering. This potential recovery is due to the investor’s interest as they continue buying the dip. Today on August 5, 2024, local blockchain media made a post on X (previously Twitter) that a wallet address “0x5ac” …
Galaxy’s head of research expects the funds to see inflows as investors buy the dip.
With the Bitcoin price crash over the weekend, the prices of other cryptocurrencies such as Shiba Inu have followed sharply. The result of this has been a double-digit price crash for Shiba Inu, alongside other altcoins. Naturally, the rapid decline has raised questions, with industry stakeholders wondering what is driving this massive crash. Shiba Inu Price Crash Is Following Bitcoin The Shiba Inu price crash being experienced today is not a result of a single event occurring for the meme coin. Rather, it is linked to a further market-wide crash that began with the Bitcoin price first falling below $60,000 and eventually breaking $50,000 on Monday. Therefore, to get the real reason behind the Shiba Inu price crash, we must look at the reason driving the Bitcoin crash. Related Reading: MATIC: Market Nosedive Leads To 30% Wipe In Value So far, Bitcoin, and the broader crypto market, has been responding to major events happening around the world. These are outline by pro trader Adam Khoo in an X (formerly Twitter) post, revealing a much deeper reason for the decline. One of these major events is the decline in the Japanese stock market, which is seeing its largest single-day decline since 1987. As Khoo outlined, traders on the Japanese stock exchange had borrowed the Japanese Yen at low interest rates to convert to United States Dollar, which is, in turn, used to buy US stocks for a larger gain. This strategy has worked for the trader as Yen’s interest rates remained low. However, the Japanese government raised interest rates, meaning that these traders were now dealing with massive losses as the Yen strengthened against the US dollar. The result of this is a large sell-off as traders scramble to pay back their loans while taking huge losses in the process. Naturally, this led to a decline in US stocks and the likes of Bitcoin and Shiba Inu have been reacting to this market decline. The sharp rise in the JPY/USD is causing a massive unwind of Yen carry trade positions and contributing to the sharp decline in US stocks. For those who do not understand how this works, a brief explanation 1) Many traders were borrowing Jap Yen (JPY) at low interest rates,… pic.twitter.com/sfi0Hva56M — Adam Khoo (@adamkhootrader) August 5, 2024 Not only this, other major events such as war escalation in the Middle East, as well as the US presidential elections having no clear winner yet, has driven prices down further. With fear and panic spreading, more investors are selling, causing an already deep decline to depend further. Related Reading: Dogecoin Price (DOGE) Slips Alongside Bitcoin and Ethereum: Market Analysis However, while investors in assets such as Shiba Inu panic, the crypto trader does not believe that it is all bad. According to him, this is a great time to “take advantage of temporary mis-pricing caused by short term crisis.” Presently, the Shiba Inu price is sitting at $0.00001111 – its lowest level in six months. Going by the trader’s sentiment, this could be a good time to get into coins such as Shiba Inu, as a rebound from here could lead to new all-time highs. Featured image created with Dall.E, chart from Tradingview.com
Major internet and retail giants like Google, Amazon, and Walmart are showing a lot of interest in participating in the current pilot program for India’s Central Bank Digital Currency (CBDC), also known as the e-rupee, according to the Reserve Bank of India (RBI). Related Reading: Dogecoin Payments On X: DOGE Lead Finally Speaks Out This […]
Introduced in May 2023, the Robinhood 24-hour market service allows customers to invest on their own schedule.
The cryptocurrency market is once again under pressure as key players and influencers express concerns over the current environment. In the past few weeks, the market has seen a significant downturn, with Ethereum and several other altcoins experiencing sharp declines. This situation has left many investors on edge, debating whether to buy the dip or …
A deluge of crypto-industry money may have helped achieve a very narrow Arizona congressional primary win this week for Yassamin Ansari, a crypto-cheering Phoenix City Council member who faced a candidate backed by Sen. Elizabeth Warren (D-Mass.)
Not just crypto but the Global Stock markets are plunging. Robinhood created waves in bearish crypto waters by hauling their 24 hour trading. This splits the community into two types of believers. There are some who are appreciating this move and the other who are calling it market manipulation. Let’s explore what exactly happened and …
After dropping his previous lawsuit in June, Elon Musk has stepped up his claims against OpenAI and CEO Sam Altman in his latest filing.
Sky Mavis' shift to a permissionless Ronin ecosystem could democratize game development, potentially leading to a surge in innovative blockchain games.
The post Sky Mavis co-founder eyes permissionless future for Ronin ecosystem appeared first on Crypto Briefing.
Leading DeFi platform Aave Protocol generated over $6 million in revenue during the current market downturn. On-chain data shows that Aave earned $802,000 from a $7.4 million wrapped Ether (WETH) liquidation, reflecting a surge in liquidation activity on the platform. Overall, Aave V3 saw $233 million in liquidations, the protocol’s highest single-day figure, according to […]
The post DeFi giant Aave achieves $6M revenue in volatile market conditions appeared first on CryptoSlate.
The Relative Strength Index (RSI) is an important indicator for any cryptocurrency, and Bitcoin is no different. Given that the pioneer cryptocurrency has been around the longest, the abundance of data makes it possible to use this indicator in an attempt to pinpoint where the price might be headed next. This time around, the indicator is turning bearish, which means that the Bitcoin price could be headed toward further decline from here. Analyst Says RSI Is Turning Bearish For Bitcoin Crypto analyst Alan Santana took to the TradingView website to share a bearish development for the Bitcoin price. The analysis, which focused on the Relative Strength Index (RSI), shows a continuation of the bearish trend as Bitcoin is poised to fall further. Related Reading: Ethereum Price Crashes Below $3,000 As Revenues Drop To New Lows The crypto analyst, using the Bitcoin weekly chart, shows that the RSI is actually flashing a 3-year long bearish divergence. This is backed up by the RSI chart which showed a continuous decline over the the year 2024 after reaching a local peak at the start of the year. Bitcoin’s RSI has declined around 42% since the year began, going from as high as 88 to 50.6 at the time of the analysis. However, Alan Santana uses a longer timeframe from 2021 to 2024, showing a bearish divergence in this indicator. This bearish divergence has emerged as the RSI indicator presented a lower high in 2024 compared to the 95 peak of 2021. According to the analyst, this means that the RSI indicator is now turning bearish for the first time since August 2023. This makes it the most bearish that the Bitcoin indicator has become in one year. How Low Will The BTC Price Drop? At the time of the analysis, the Bitcoin price had already seen a brutal drop from $70,000 to below $60,000 before a small recovery at the time of the writing. However, the crypto analyst does not believe this is the end and warns investors to expect further decline. Related Reading: Can XRP Rally 1,000X Despite The Drop Below $0.6? Going by the chart, Alan Santana expects that the Bitcoin price will fall over 20% from here once more. This would mean a price decline below $50,000. The crypto analyst puts the bottom of this decline at around $44,000. If this forecast were to materialize, it would mean the price would revisit the $40,000 level for the first time since January 2024. However, it is not all bad news as the crypto analyst explains that “This, and other signals, is telling us that there is room for lower prices; much lower, before we experience new highs and boom growth.” Featured image created with Dall.E, chart from Tradingview.com
Today, on August 5, 2024, the overall cryptocurrency market experienced a notable decline of over 18% in the last 24 hours. Amid this crash, Pepe (PEPE) the world’s third-biggest meme coin hit hard as it experienced a significant price decline of over 27% in the last 24 hours. PEPE traders liquidate $9.4 million Following this …